Century Pacific’s Diverse Portfolio Delivers Sustained Double-digit Revenue and Profit Growth in 2024

Century Pacific Food, Inc. (CNPF), one of the leading food companies in the Philippines, reported unaudited financial results for the year ended December 31, 2024. Consolidated revenues reached P75.5 billion, reflecting a 12% growth versus FY23, delivered by the healthy performance of the group’s diverse portfolio. Net profit after tax landed at P6.3 billion, up by 14% YoY.

​CNPF sales growth was broad-based, with both its Original Equipment Manufacturing (OEM) Exports and Branded segment delivering positive performance.

OEM Exports – comprised of both Tuna and Coconut export businesses – propelled CNPF’s topline growth, with revenues surging 36% YoY. The commodity-linked segment benefited from a low base, favorable input costs, and robust global demand for healthy and nutritious products.

Meanwhile, in the face of a soft consumer environment, CNPF’s Branded segment saw FY24 revenues rise by 7% YoY. The segment accelerated in the fourth quarter, up by 10% compared to the same period last year. Branded, which accounts for the majority of the Company’s sales, is composed of Marine, Meat, Milk, and other emerging verticals. The segment’s performance was underpinned by volume-led growth, supported by a vast portfolio of brands across multiple price tiers and a strong focus on brand-building campaigns and promotional efforts.

According to CNPF’s Chief Financial Officer, Chad Manapat, the group’s sustained double-digit performance can be attributed to its diverse portfolio.

“Our results in 2024 highlight the resilience and balance of our synergistic portfolio,” Manapat said. “Diversification allowed us to navigate economic headwinds more effectively, with exports benefiting from a favorable commodity cycle and global demand—providing uplift amid a subdued domestic environment.”

He added, “We’re especially grateful for the sustained growth we’ve seen, despite continued pressure on Filipino households from inflation. Throughout, we stayed focused on delivering affordable nutrition—ensuring our products remain within reach. We also reinvested margin gains into brand-building, innovation, and promotions to support the consumer and stimulate demand.”

CNPF saw gross margins expand by 210 basis points (bps) to 26.1% due to improvements in input costs. Gains were reinvested into demand-generating activities and sustainability initiatives. As a result, earnings before interest, taxes, depreciation, and amortization (EBITDA) and net profit margin remained stable at 12.7% and 8.4%, respectively.

Century Pacific’s operational performance led to healthy cash generation. Operating cash flows amounted to P8.1 billion, adequately funding capacity expansion, increased dividends, and debt repayments. During the year, CNPF acquired Coco Harvest, Inc., a coconut processing facility which started operating in November 2024.

“We’ve always believed that delivering consistent performance goes hand-in-hand with creating value for all our stakeholders,” said Manapat. “From our consumers, customers, and employees to our communities and shareholders—2024 was a year of shared progress. The continued reinvestment in our brands, capabilities, and sustainability efforts is a reflection of our commitment to long-term, inclusive growth.”