Udenna Corporation President’s Report (1Q2022)

May 28, 2022

We live in unprecedented times, surviving a challenging landscape as we continuously learn from the pandemic and its effects on the economy. While the future is uncertain, we remain steadfast in pursuing our vision to be the indispensable partner in nation-building. 

2022 marks our 20th year, a testament to the dedication of our team and UDENNA’s essential role in uplifting our communities. Throughout the past two decades, we have never stopped working and providing viable solutions through sustainable business investments.

Our growth is founded on our commitment to our shareholders, maximizing shareholder value through strong partnerships with strategic investors, and maintaining core assets that provide maximum synergies with the other companies within the UDENNA Group. 

UDENNA strives to build enduring businesses, ensuring that it remains competitive and quick to adapt especially in the face of adversity. 

We have seen the return of investor confidence. We are hopeful about recovery as we have seen inroads in our investments. Investments that will drive the Group’s future prospects and position it to grow for years to come. 

I am proud and grateful to all our team members for their unwavering commitment and passion to serve our customers and help our communities with dedication, integrity and excellence. Maraming maraming salamat.

Here is a look at what we have achieved as a Group in the first quarter of 2022:


The CAPEX light expansion enabled us to expand our retail presence into key Metro Manila locations during the pandemic. PNX has consistent double-digit volume growth and is a solid #3 in market share. 

Phoenix LPG Philippines, Inc.’s volume has doubled in the last five years underpinned by the company’s expansion in Luzon, which now accounts for 32% of the total volume from a mere 5% since Phoenix acquired the business. Sales volume in VisMin, meanwhile, is getting a boost from its emerging canister business. The expansion into new markets and product innovation, alongside strong business fundamentals, contributed to the notable growth of LPG doubling its market share to 8% in less than five years.

Chelsea Logistics

2022 is better for Chelsea with higher revenue. The freight segment maintained its steady growth with its revenues growing 23% YOY. The passage segment reported a strong YOY recovery with passage revenues up 124% with the easing of travel protocols, leading to a robust increase in passenger volumes. Despite the challenges of higher fuel prices, we have managed to improve our margins with the growth in revenues outpacing the growth in costs. 


DITO Telecommunity

Since its commercial launch, DITO Tel has been steadily growing its subscriber base, now with over 8 million subscribers, and is poised to cover more than 70% of the population. 

LUNA Academy

Earlier this year, LUNA celebrated its 1st anniversary with 400+ courses, 100+ online industry and certification programs, 50+ partners, and over 4000 learners on the platform.  This 2022, we are bringing in more courses and will be focusing on being the first to market a Filipino-based platform with the big four tech learning providers.


Total system sales in our restaurant businesses Conti's and Wendy’s enjoyed 29% and 72% growth vs 2021 respectively in Q1 of 2022. Dine-in has started to pick up as the pandemic restriction loosens to Alert Level 1.

PH Resorts

A term sheet was signed with strong gaming operator Bloomberry Resorts Corp which is looking to invest in Emerald Bay and The Base, allowing PHR to concentrate on tourism.


Enderun Colleges introduced their newest undergraduate degree program, the Bachelor of Multimedia Arts. With a vision anchored in “Command, Shift, Design,” the program prepares students for global competence in the thriving field of multimedia arts. 

Udenna Infrastructure

UIC will expand and diversify the capability and portfolio into managing telco services, to support and potentially add to the Php1.5B 2022 YE gross revenue targets.

The existing portfolio of tower builds and fiber optic laying will be strengthened and expanded.

Udenna Land

CarVal Investors’ ADPI direct investment in West Aeropark is a testament to the resurgence of investor confidence in Clark. As the economy continues to show signs of recovery, we look forward to further developing Clark Global City into a global destination outside of Metro Manila, in support of the government's efforts to promote economic growth throughout the country.


As we continue to explore more ways to fulfill our vision to make Malampaya sustain its capability to meet the urgent energy security needs of the country, we remain fully committed to safe, secure, sustainable energy for Filipinos by Filipinos.

Udenna Foundation

The Udenna Foundation spearheaded the Typhoon Odette Relief Operations of the Udenna Group by utilizing the resources and synergy of all the business units and the help of like-minded individuals and organizations. As one of the first responders, the Foundation, in cooperation with the Philippine Air Force Civil-Military Operations Group (PAFCMOG), donated relief aid to affected areas by swiftly mobilizing its teams through its U Care, U Share initiative, harnessing the synergies of the Udenna Group. 

We also partnered with Operation Smile, Hands on Manila, Worklink Services, Inc., UC38, and DITO Tel to help transport aid, educational kits and SIM cards for victims of Typhoon Odette. These are just some of the efforts of the team to heed the call to help where and when needed.

UDENNA’s push has always been and remains to be a better future for the Filipino. Since the beginning, our aim is to positively contribute to our country’s economy and uplift the lives of our countrymen.

Our investments are risks we are willing to take, risks for the Filipino.

As we always say in Udenna, Success is not complete without U, our customers, partners, and team members. We are humbled and grateful for your unwavering support, dedication and trust. 

Maraming maraming salamat.


Raymundo Martin M. Escalona


Udenna Corporation

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