C05568-2024

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Aug 15, 2024
2. SEC Identification Number
CS200508386
3. BIR Tax Identification No.
237-383-045-000
4. Exact name of issuer as specified in its charter
BALAI NI FRUITAS INC.
5. Province, country or other jurisdiction of incorporation
QUEZON CITY, PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
68 DATA ST. BRGY. DON MANUEL QUEZON CITY Postal Code 1113
8. Issuer's telephone number, including area code
(02)8243-1741
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON 1,495,005,000
11. Indicate the item numbers reported herein
ITEM NO. 9 - OTHER EVENTS

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Balai Ni Fruitas Inc.BALAI

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Balai ni Fruitas achieves 27% revenue growth and 30% net income surge in 1H2024
Background/Description of the Disclosure

1H2024 Highlights:
•1H2024 revenue demonstrated a robust 27% growth, reaching Php315 million, up fromPhp249 million in 1H2023;
•1H2024 gross margin improved to 49.6%, reflecting a 160bps increase despite thechallenges posed by rising inflation;
•1H2024 EBITDA had a substantial increase, rising by 46% to Php68 million comparedto Php46 million in the same period of 2023;
The EBITDA margin for 1H2024 rose by 21.4% up from 18.6% in 1H2023;
•1H2024 net income grew to Php32 million, representing a 30% increase over thePhp25 million reported in the first half of 2023

Manila Philippines – Balai ni Fruitas Inc., listed on the Philippine Stock Exchange under the symbol “BALAI” and a leader in Philippine counter service bakery operators, has demonstrated robust financial performance in the first half of 2024. For the first six months of 2024, the company's revenues surged to Php315 million, reflecting a 27% increase from Php249 million during the same period in the previous year. This growth is attributed to the strategic expansion and enhanced performance of the store network of the Company.
1H2024 gross profit rose by 31%, reaching Php156 million compared to Php120 million in the first half of 2023. Despite ongoing inflationary pressures, the gross margin improved to 49.6% from 48.0% in the prior year. Additionally, net income increased from Php25 million in the first half of 2023 to Php32 million in 1H2024. The company’s strong financial results are primarily driven by higher-margin products, strategic expansion efforts, and operational efficiencies.

BALAI has skillfully maneuvered within the food service industry by securing several strategic external partnerships in 1H2024. Following its acquisition of Sugarhouse, the company achieved another significant milestone with the establishment of an exclusive distribution agreement with D’ Famous Red Box Corporation through its legacy brand, Polland Hopia. Polland Hopia, a cherished Filipino brand since 1966, is renowned for its authentic mung bean cakes, including popular varieties such as Mongo Special Hopia, Black Mongo Hopia, Chocolate Fudge Hopia, and Ube Hopia. This agreement grants BALAI exclusive rights to distribute Polland Hopia in Cebu and Zamboanga.
The Company concluded the first half of 2024 with a total of 127 stores nationwide, an increase of six new stores from the 121 stores reported at the end of the first quarter. Balai Pandesal, the flagship brand within the Company’s portfolio, achieved substantial same-store sales growth, driven by a series of innovative and highly sought-after product offerings.

“In the first half of the year, BALAI has demonstrated outstanding performance, achieving notable success in both financial results and operational efficiency. Our relentless focus on customer satisfaction and commitment to delivering superior-quality products continue to be our primary objectives. The recent establishment of strategic partnerships further illustrates our dedication to leveraging our core strengths. I am confident that these initiatives will reinforce our market presence and foster continued growth and success in the coming quarters,” remarked Mr. Lester C. Yu, BALAI President and Chief Executive Officer.
Other Relevant Information

Please refer to attached file for the full copy of Press Release with key financial indicators.
Filed on behalf by:
Name RALPH HECTOR ADRICULA
Designation COMPLIANCE OFFICER