CIC’s 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:
Net Sales (Millions) & Gross Margin
(Unaudited)
Profit After Tax (millions)
(Unaudited)
Profit After Tax After Minority Interest (millions)
(Unaudited)
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 Operating expenses increased, albeit at a slower pace of 24%, to support sales growth and inventory provisions for outdated.models and parts.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 Unaudited |
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 Unaudited |
|---|
|
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% |
| Name of Stockholders | Number of Shares Held | Percentage of Shared Held |
|---|---|---|
| Name of Stockholders |
|---|
|
Number of Shares Held
Percentage of Shares Held
|
STOCK TRANSFER SERVICE, INC.
(through Ms. Maricor P. Biag)
Unit D 34th Floor, Rufino Plaza, Ayala Avenue, Makati City
Tel #: 5310-1343
The stockholder may transact through their broker or any other active broker members of Philippine Stock Exchange.
For the latest closing price of CIC stocks, please refer to the “Stock Information” section under Investor Relations of this website or through CIC’s PSE EDGE page.
For the latest Company Reports, please refer to the “Disclosures” section under Investor Relations of this website and “Reports, Policies, and Other Materials” section under Corporate Governance of this website, or through CIC’s PSE EDGE page.
CIC holds its Annual Stockholders’ Meeting every third Wednesday of July. You may regularly check the “Disclosures” section under Investor Relations of this website for the Notice of Stockholders’ Meeting for the details, such as specific date for the current year, record date, venue and other instructions.
You may send an e-mail on your concern through investorrelations@cic.ph.
Our Commitment to Shareholders
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.
Corporate Governance
Sustainability
