C02554-2025

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)
Apr 21, 2025
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
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 9

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 Posts 25% Revenue Growth in 2024, Sustains Double-Digit Margin Performance
Background/Description of the Disclosure

2024 Highlights:
• Revenues grew to Php668 million in 2024, 25% higher than 2023 revenues of Php545 million.
• Gross profit margin stood at 52% in spite of continuing challenges from inflation;
• EBITDA rose to Php134 million in 2024, up 24% from Php109 million in 2023;
• Net income reached Php68 million in 2024, 16% higher than Php59 million in 2023.

Manila Philippines – Balai ni Fruitas Inc., listed on the Philippine Stock Exchange under the symbol “BALAI” a leading counter-service bakery operator in the Philippines, reported strong financial performance for the full year 2024. Revenues reached Php668 million, a 25% increase from Php535 million in 2023. The robust topline growth was driven by improved same-store sales and the strategic expansion of BALAI’s retail footprint. EBITDA increased by 24% to Php134 million, while net income reached Php68 million, which translates to a 10.2% net income margin, underscoring BALAI’s operational strength and disciplined cost management.

Based on the latest available public disclosures, BALAI once again outperformed all other foodservice companies listed on the Philippine Stock Exchange (PSE) in 2024, leading the sector in both revenue growth and retaining its position as one of only two companies in the sector with double-digit net income margin — mirroring its leadership position in 2023.

2024 marked a milestone year for BALAI, defined by strategic expansion, brand growth, and operational achievements. In April 2024, the Group completed the acquisition of the 40-year-old Sugarhouse brand, along with key operational assets, strengthening BALAI’s portfolio by expanding into the premium cake category and enhancing production capacity. This acquisition not only broadens BALAI’s product offerings but also unlocks synergies across its existing brands Balai Pandesal, Buko Ni Fruitas, and House of Desserts.

In the second half of the year, BALAI further expanded product offering by securing an exclusive distributorship agreement with D’ Famous Red Box Corporation, granting it the sole rights to distribute the well-loved Polland Hopia brand in Cebu and Zamboanga. This strategic partnership enables BALAI to tap into two key regional markets with strong consumer demand for traditional Filipino delicacies, particularly hopia — a beloved snack across generations. The Polland Hopia brand will be featured in Balai Pandesal stores, creating synergies with BALAI's existing product offerings, such as breads and juices, which resonate deeply with Filipino consumers.

Gross profit rose to Php345 million in 2024, representing a 26% increase from Php273 million in full-year 2023. The company also improved its gross profit margin to 51.6%, up by 60 basis points from 51.0% in the previous year, despite facing elevated costs of raw materials and other direct expenses. This margin expansion was driven by a carefully calibrated pricing strategy — featuring modest, targeted price adjustments — and, more significantly, by a deliberate shift in product mix toward higher-margin offerings. BALAI recorded an EBITDA margin of 20.1% in 2024.
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