Building Strong Partnerships
Building Strong Partnerships
CICâs Investor Relations (CIC IR) embarks on bringing the CIC story to its stakeholders. CIC IR ensures transparent and timely disclosures on all relevant and material information about the Company.It engages with and addresses various information requirements of the investing public through various channels:
Financial Highlights
- +109.0%
- +2.3%
- 19.6%
- +37.4%
Net Sales (Millions) & Gross Margin
- 284.6%
- +0.6%
- +10.3%
- +110.4%
Profit After Tax (millions)
- +231.0%
- -2.4%
- +21.7%
- +89.3%
Profit After Tax After Minority Interest (millions)
Q1 2024 RESULTS
CIC ended Q1 of 2024 with consolidated earnings of Php186 million, twice as much as the previous year. Growth was driven by higher volume due to improved retail presence and distribution channels, wider product portfolio, and impact of hot weather.
Net sales, including its associate Concepcion Midea, Inc., reached Php5 billion, a 34% growth. The Consumer business recorded Php2.8 billion in net sales, a 33% year-on-year increase. With notable growth in air conditioning, and refrigeration product sales.
The Commercial business achieved Php981 million in net sales, a 31% growth versus prior year, driven by increased sales of HVAC equipment and aftermarket services.
Gross profit increased to Php1.3 billion, up 31% from the corresponding period due to higher sales across all business segments. Operating expenses increased, albeit at a slower pace of 24%, to support sales growth and inventory provisions for outdated.models and parts.
| In Millions php | 2Q24 | 2Q23 | % Change |
|---|---|---|---|
|
Net Sales |
P5,979 |
P4,352 |
37% |
|
Gross Profit GP Margin |
P2,016 33.7% |
P1,272 29.2% |
58% 4.5 pts |
|
OpEX % of Sales |
-1,231 -20.6% |
-940 -21.6% |
-31% 1.0 pts |
|
Profit Before Tax Return on Sales (%) |
797 13.3% |
344 7.9% |
132% 5.4 pts |
|
Profit After Tax PAT (%) |
541 9.0% |
257 5.9% |
110% 3.1 pts |
|
Net Income Attributable to Shareholders |
308 |
163 |
89% |
|
Financial Position |
30-Jun-24 |
31-Dec-23 |
|
|
Consolidated Cash Balance |
2,271 |
2,373 |
-4.3% |
|
Total Assets |
14,378 |
12,243 |
17.4% |
|
Total Liabilities |
7,379 |
5,314 |
38.9% |
| In Millions php |
|---|
|
Net Sales 2Q24 P5,979 2Q23 P4,352 % Change 37% |
|
Gross Profit GP Margin 2Q24 P2,016 33.7% 2Q23 P1,272 29.2% % Change 58% 4.5 pts |
|
OpEX % of Sales 2Q24 -1,231 -20.6% 2Q23 -940 -21.6% % Change -31% 1.0 pts |
|
Profit Before Tax Return on Sales (%) 2Q24 797 13.3% 2Q23 344 7.9% % Change 132% 5.4 pts |
|
Profit After Tax PAT (%) 2Q24 541 9.0% 2Q23 257 5.9% % Change 110% 3.1 pts |
|
Net Income Attributable to Shareholders 2Q24 308 2Q23 163 % Change 89% |
|
Financial Position 2Q24 30-Jun-24 2Q23 31-Dec-23 % Change |
|
Consolidated Cash Balance 2Q24 2,271 2Q23 2,373 % Change -4.3% |
|
Total Assets 2Q24 14,378 2Q23 12,243 % Change 17.4% |
|
Total Liabilities 2Q24 7,379 2Q23 5,314 % Change 38.9% |
Top Stockholders
| Name of Stockholders | Number of Shares Held | Percentage of Shared Held |
|---|---|---|
| Name of Stockholders |
|---|
|
Number of Shares Held
Percentage of Shares Held
|
Shareholder Services and Assistance
For inquiries regarding dividend payments, change of address and account status, lost or damaged stock certificates, please contact our stock transfer agent:
STOCK TRANSFER SERVICE, INC.
(through Ms. Maricor P. Biag)
Unit D 34th Floor, Rufino Plaza, Ayala Avenue, Makati City
Tel #: 5310-1343
I want to sell my shares. How do I go about this?
The stockholder may transact through their broker or any other active broker members of Philippine Stock Exchange.
What is the market price of my shares of stocks?
For the latest closing price of CIC stocks, please refer to the âStock Informationâ section under Investor Relations of this website or through CICâs PSE EDGE page.
Where can I find copies of Company Reports and Policies?
For the latest Company Reports, please refer to the âDisclosuresâ section under Investor Relations of this website and âReports, Policies, and Other Materialsâ section under Corporate Governance of this website, or through CICâs PSE EDGE page.
When is CICâs Annual Stockholdersâ Meeting?
CIC holds its Annual Stockholdersâ Meeting every third Wednesday of July. You may regularly check the âDisclosuresâ section under Investor Relations of this website for the Notice of Stockholdersâ Meeting for the details, such as specific date for the current year, record date, venue and other instructions.
How can I inquire about other investor relations matters?
You may send an e-mail on your concern through investorrelations@cic.ph.
For inquiries regarding dividend payments, change of address and account status, lost or damaged stock certificates, please contact our stock transfer agent:
STOCK TRANSFER SERVICE, INC.
(through Ms. Maricor P. Biag)
Unit D 34th Floor, Rufino Plaza, Ayala Avenue, Makati City
Tel #: 5310-1343
I want to sell my shares. How do I go about this?
The stockholder may transact through their broker or any other active broker members of Philippine Stock Exchange.
What is the market price of my shares of stocks?
For the latest closing price of CIC stocks, please refer to the âStock Informationâ section under Investor Relations of this website or through CICâs PSE EDGE page.
Where can I find copies of Company Reports and Policies?
For the latest Company Reports, please refer to the âDisclosuresâ section under Investor Relations of this website and âReports, Policies, and Other Materialsâ section under Corporate Governance of this website, or through CICâs PSE EDGE page.
When is CICâs Annual Stockholdersâ Meeting?
CIC holds its Annual Stockholdersâ Meeting every third Wednesday of July. You may regularly check the âDisclosuresâ section under Investor Relations of this website for the Notice of Stockholdersâ Meeting for the details, such as specific date for the current year, record date, venue and other instructions.
How can I inquire about other investor relations matters?
You may send an e-mail on your concern through investorrelations@cic.ph.
Our Commitment to Shareholders
CIC IR understands the significance of consistent communication with its shareholders, investors, and stakeholders. One of the communication methods utilized by CIC is the Annual Stockholdersâ Meeting, which offers shareholders the opportunity to ask questions and gain insights into the companyâs performance and future business strategies.
2022 Annual Report
In 2022, Concepcion Industrial Corporation (CIC) achieved promising results, aligned with our commitment to bringing happy spaces to life. We prioritized business recovery, adapting to the new normal, and enhancing our culture and capabilities. Despite significant progress, challenges like escalating costs and adverse foreign exchange rates persisted, making for a demanding year. However, our resilience enabled us to adapt and pivot when necessary swiftly, showcasing our ability to overcome obstacles, as highlighted in the 2022 Annual Report.
Download Latest Report
Corporate Governance
Sustainability