Century Pacific Branded Business Up 9% H1 2025 on the back of double-digit volume growth; Outweighs softness in OEM Exports

Century Pacific Food, Inc. (PSE:CNPF), one of the leading food companies in the Philippines, released its unaudited financial results for the first half of 2025. Revenues amounted to P39.7 billion, growing by 5% on top of a high H124 base. CNPF’s topline performance was fueled by the resilient Branded business, which outweighed the softness in the company’s Original Equipment Manufacturing (OEM) Exports segment. Net income after tax (NIAT) rose by 7% YoY, amounting to P3.9 billion for the six-month period.

​Branded sales saw a year-on-year uplift of 9% in the first half and 6% in the second quarter, underpinned by double-digit volume growth in both periods. Composed of Marine, Meat, Milk, and other emerging segments, the Branded business continued to account for the majority of the Group’s topline.

Chad Manapat, CNPF’s Chief Financial Officer, shared, “Our double-digit volume growth in Branded reflects the Company’s deliberate and sustained efforts in brand building, pricing measures, and sales generation undertaken since last year. While easing inflation, particularly that of rice, provided some lift, consumers remain value-conscious, and demand for affordable offerings continues to be strong.”

In contrast, CNPF’s OEM Exports segment performance dipped, influenced by normalizing commodity movements and a tepid export market amidst geopolitical uncertainty. Consequently, cycling a period of outsized growth in 2024, H125 OEM export sales edged down by 10% year-on-year.

In terms of profitability, gross margin (GM) stood at 25.7%, slightly lower by 40 basis points compared to the same period last year, reflecting the normalization of input costs. This was tempered by a 60bps decrease in operating expenses as a percentage of sales, which improved to 13.9%. Thus, net profit margin clocked in a 20bps improvement to 9.8%.

Among the Group’s brand-building initiatives was its Protein Fit Campaign, featuring renowned Korean actor, Park Seo Joon. The full 360 campaign kickstarted in 1Q and culminated in a landmark on-ground activation in early July. Leveraging an international endorser and mounting a large-scale consumer event were a first for the group, effectively reinforcing CNPF’s market leadership in the category.

The period likewise saw CNPF’s renewal of its long-term contract with The Vita Coco Company, Inc. The contract is valued at approximately P14 billion, spanning five years. It is expected to commence in January 2026, supporting approximately 4,500 jobs in General Santos, Mindanao.

CNPF invested a total of P1.5 billion in capital expenditures, mostly for capacity expansion to support growth and sustainability initiatives, during the six-month period. The Company also declared special dividends amounting to P0.55 per share on top of the P0.55 regular dividends released earlier this year.

Manapat said, “We continue to invest in the business with a long-term perspective, mindful of creating sustainable growth while delivering healthy returns to our shareholders. Our ambition is to grow at approximately twice the pace of GDP each year, anchored on our mission to make affordable nutrition accessible to more consumers. In the nearer term, we are navigating the year with care as we prepare to accelerate in the second half. We are aiming to deliver high single to low double-digit topline and bottomline growth for 2025, supported by a resilient Branded business. By building and strengthening our diversified portfolio, we position the Group to create lasting value for our stakeholders and make a positive difference in communities we serve.”

Century Pacific Food, Inc. (PSE: CNPF) is one of the Philippines' leading branded food and beverage companies. It is primarily engaged in the manufacturing, marketing, and distribution of processed marine, meat, milk, coconut, plant-based, and pet products. With an established track record in brand-building spanning more than 40 years, it holds a roster of household names which include Century Tuna, Argentina, 555, Ligo, and Birch Tree. These brands of the Company hold market leading positions locally and are growing their presence abroad. Further, the Company also operates as one of the Philippines' leading providers of private label tuna and coconut products for export overseas.