July 08, 2021 – D&L Industries is currently participating in a vaccination drive initiated by Mayor Joy Belmonte and the Quezon City Local Government Unit (LGU). The objective is to hasten the vaccination of more Filipinos at the soonest possible time. The partnership featured the Quezon City LGU supplying the vaccines and supervision at the venue provided by Ever Gotesco, while D&L contributed the medical team. The partnership has conducted three weekend vaccination drives so far and eyes organizing further vaccination schedules in the coming weeks, as additional vaccines become available.
“We fully support this initiative by Mayor Joy Belmonte and the local government of Quezon City. We find the partnership highly innovative and responsive to the needs of our people during this pandemic. We’d like to extend our deep appreciation to Mayor Joy and the Quezon City government for giving us the opportunity to be of service to the public. We’d also like to thank Ever Gotesco for providing the venue and staff support. By working together, we can have more people vaccinated at the soonest possible time.“ remarked D&L CEO Alvin Lao.
With D&L’s crucial role in the Philippine manufacturing industry, supplying essential food and sanitation chemicals, its employees, who have been regularly reporting to work ever since the pandemic started, are considered as economic frontliners and were among those who were inoculated during the vaccination drive. A limited number of economic frontliners from D&L and Ever Gotesco were accommodated during the morning sessions of the drive while the afternoon sessions were entirely devoted to priority groups from the communities in Quezon City.
“We put serious efforts on educating our employees about the benefits of getting vaccinated. As a result, an overwhelming majority of them are now inclined to take the vaccine. With an increasing number of our employees being vaccinated, we hope to develop herd immunity, at least within the company, over the next couple of months, subject to vaccine availability. We see this as taking an active role in helping end the pandemic,” Lao added.
While the pandemic is still ongoing, D&L believes that it is now in a far better position to thrive in an adverse environment and a potentially protracted economic recovery period. As the majority of the products that the company manufactures cater to basic essential industries such as food, oleochemicals, plastics and cleaning chemicals, the company sees continued strong demand ahead. With all of the company’s business segments posting significant recovery YoY in 1Q21, recurring net income for the period increased by 35% YoY to P695mn. Including a one-time gain of P29 million related to the retroactive implementation of the CREATE Act in the year 2020, total net income for the quarter stood at P724 mn, up 41% YoY. Assuming that 1Q21 income holds steady in the next couple of quarters, the company is set to at least reach its net income level in 2019.
D&L Industries is a Filipino company engaged in product customization and specialization for the food, chemicals, plastics and consumer products ODM industries. The company’s principal business activities include manufacturing of customized food ingredients, specialty raw materials for plastics, and oleochemicals for personal and home care use. Established in 1963, D&L has the largest market share in each of the industries it serves, as well as long-standing customer relationships with the Philippines’ leading consumer and manufacturing companies. It was listed on the Philippine Stock Exchange in December 2012. For more information, please visit //dnl.com.ph/investors/.
This press release may contain some “forward-looking statements” which are subject to a number of risks and uncertainties that could affect D&L’s business and results of operations. Although D&L believes that expectations reflected in any forward-looking statements are reasonable, D&L does not guarantee future performance, action or events.