METRO Pacific Agriventures Inc. (MPAV) eyes to become a P20 billion company in the medium term as it ramps up its businesses.
Juan Victor Hernandez, MPAV president, expressed confidence in achieving the target, with the food production arm of the Metro Pacific Group optimistic of generating at least P1 billion in revenues in the next two years.
Early this month, Hernandez revealed the company’s plans to diversify its exposure to include protein and dairy.
In particular, MPAV is looking at egg production as well as carabao milk as it works to bring its other businesses to profitability, he said.
“Protein could either be meat, eggs or aquaculture. All of those are very interesting,” Hernandez said, noting egg production as “a very interesting area.”
The potential venture complements the company’s core strategy of taking into account the “Filipino plate,” he added.
Hernandez said the carabao milk venture will be a big boost to local farmers while giving MPAV other sources for its materials to process cheese. He said the company is looking at ventures where it can add value to process.
“As long as when we use technology, we can increase quality and yield, we’ll venture into it,” he said.
Hernandez also said earlier the agri venture is now “doing well” from a revenue standpoint, with all metrics up.
The company is working on its earnings before interest, taxes, depreciation and amortization (EBITDA) and core income, he said.
“If we look at the different components, we’re happy to announce on the ice cream side, we’re already positive EBITDA and making net income on ice cream. We have to work on the dairy side because that’s also lower margin from a business perspective. We’re able to grow the volumes there. We’re confident we’ll be able to have positive EBITDA by next year as a total dairy business,” he added.
