WILCON Depot Inc. on Monday reported a 2025 net income of P2.446 billion, down 3.3 percent or P83 million compared to the previous year despite higher net sales as increased operating expenses weighed on earnings.
In a disclosure, the home improvement and construction supplies retailer said net sales rose 3.7 percent to P35.444 billion, thanks mainly to new stores opened during the year.
Same-store sales growth remained flattish, although smaller-format stores posted double-digit gains while higher-margin in-house brands continued to account for more than half of total sales.
Gross profit for the year reached P13.677 billion, up 2.5 percent. Gross profit margin was 38.6 percent, supported by increased sales of higher margin in-house and exclusive brands.
But operating expenses, including lease-related expense, increased to P10.854 billion, up by 3.7 percent or P389 million year-on-year and attributed to higher depreciation and amortization, manpower expenses and repairs and maintenance.
Fourth-quarter performance showed stronger momentum with net income rising 41.3 percent to P580 million on net sales of P9.107 billion, driven by improved same-store sales and contributions from new outlets.
“We are happy to announce that we were able to maintain positive same-store sales growth in the fourth quarter, which resulted in a second half net income increase of 26.0 percent,” Wilcon President and CEO Lorraine Belo-Cincochan said.
She said the company implemented operational and marketing adjustments to reverse earlier performance declines.
The company ended 2025 with 104 operating stores after opening six new depots during the year while closing two smaller-format stores and reopening a previously damaged branch.
Wilcon added that expansion plans were continuing, with eight new store openings targeted for 2026, three already completed.
The company’s board also approved a cash dividend of P0.40 per share, amounting to a total payout of P1.64 billion, up 11.1 percent from the previous year’s P0.36 per share.
Wilcon said it remained focused on improving store operations and expanding its footprint to support long-term growth.
Its shares fell P0.15, or 2.44 percent, to close at P6.00 each on Monday, outpacing a 1.73-percent drop for the benchmark Philippine Stock Exchange index.
