Century Pacific Food, Inc. · PSE:CNPF
Century Pacific Food — Q1 2025 Earnings Presentation
25 slides from Century Pacific Food's earnings presentation, May 7, 2025
Slide 1: Nourishing Lives, Investing in the Future
Nourishing Lives, Investing in the Future CNPF 1Q25 RESULTS PRESENTATION MAY 2025
Slide 2: Latest Financial Performance
LATEST FINANCIAL PERFORMANCE
Slide 3: 1Q 2025 Financial Results Highlights
1Q 2025 FINANCIAL RESULTS HIGHLIGHTS BRANDED OEM GROSS REVENUE NET INCOME REVENUE REVENUE MARGIN 1Q +10% +13% -2% +10 +11% Growth year- bps on-year 1Q24: +16% 1Q24: +10% 1Q24: +49% 1Q24: +250bps 1Q24: +15% Reported Results 19.9B PHP 16.1B PHP 3.8B PHP 26.2% 1.9B PHP 3
Slide 4: Topline Supported by Multi-Cycle Business Model, Branded Offsetting OEM Exports
TOPLINE SUPPORTED BY MULTI-CYCLE BUSINESS MODEL, WITH BRANDED OFFSETTING OEM EXPORTS IN 1Q25 Revenue Growth Split 1Q25 Revenue Breakdown Quarterly Revenue Trend In PHP B In PHP B 10% YoY 1Q25 vs 1Q24 Branded OEM 8% QoQ 1Q25 vs 4Q24 1.8 (0.1) 19.9 18.2 22% 19% 19.6 19.9 +13% YoY -2% YoY Trailing 19.2
Slide 5: Branded Segment Accelerated on Easing Inflation, Brand-Building Programs
BRANDED SEGMENT ACCELERATED ON EASING INFLATION, BRAND-BUILDING PROGRAMS Branded YoY Revenue Trend Branded Quarterly Revenue Trend Factors Supporting Demand In PHP B In PHP B 7% QoQ 1Q25 vs 4Q24 Improving consumer 13% YoY Trailing environment as 1Q25 vs 1Q24 1Q 2025 inflation eases 10% YoY 1Q24 vs 1
Slide 6: OEM Topline Largely Sustained Despite Upward Trend in Commodities & High Base
OEM TOPLINE LARGELY SUSTAINED DESPITE UPWARD TREND IN COMMODITIES & HIGH BASE OEM YoY Revenue Trend Skipjack Tuna Price Trend OEM Quarterly Revenue Trend In PHP B In PHP B 2% YoY 2% YoY 1Q25 vs 1Q24 2024 2025 1Q25 vs 1Q24 49% YoY 1Q24 vs 1Q23 10% QoQ 1Q25 vs 4Q24 3.9 3.8 4.5 4.3 2024 Average 3.9 3.8
Slide 7: Sustained Profit Growth Due to Favorable Carryover Inventories and Disciplined Spending
SUSTAINED PROFIT GROWTH DUE TO FAVORABLE CARRYOVER INVENTORIES AND DISCIPLINED SPENDING Positive Profit Growth Momentum Margins Reflecting CNPF’s Disciplined Approach to Spending In PHP M Gross Margin 26.2% 26.1% Gross margins modestly improves YoY +10bps due to carryover input costs from the prior
Slide 8: Healthy Cash Position and Operating Cashflow Funded Capacity Expansion and Higher Dividends
HEALTHY CASH POSITION AND OPERATING CASHFLOW FUNDED CAPACITY EXPANSION AND HIGHER DIVIDENDS 1Q 2025 Cash Flows In PHP M 2,792 (351) Dividends of 4,975 Php0.55 per (694) share 700m net availment of (697) debt, interest 3,228 Increase in receivables and Capacity 538 2,868 inventory offset expansion in
Slide 9: Business Highlights & FY 2024 Outlook
BUSINESS HIGHLIGHTS & FY 2024 OUTLOOK
Slide 10: Steadfast in Our Strategic Growth Pillars
STEADFAST IN OUR STRATEGIC GROWTH PILLARS PROSPER FUTURE- SUSTAINABLY STRENGTHEN REINFORCE PROOF OUR BRANDS
Slide 11: Brand Building Activities & Sustainable Sourcing Support Marine Growth Performance
BRAND BUILDING ACTIVITIES & SUSTAINABLE SOURCNG SUPPORT THE GROWTH PERFORMANCE OF MARINE Strengthened Communications for Flagship and Value Tuna Brands Brand Activations and Supply Sourcing for Sardines #1 82%* -120 bps vs Dec ’24 (MAT) #2 Century Tuna Campaign with Park Seo Joon Fresca Campaign 555
Slide 12: Driving Value and Launching Innovations Spur Meat Growth Delivery
DRIVING VALUE AND LAUNCHING INNOVATIONS SPUR MEAT GROWTH DELIVERY Encouraging meat consumption to grow the category * +10 bps vs Dec ’24 (MAT) #1 53% Regional Activations & Pricing Action Wow Meaty and Meatloaf Variants • Price adjustments to reflect value for money proposition of brands • Targeted
Slide 13: Continued Market Share Gain in Dairy as We Double Down on Value
CONTINUED MARKET SHARE GAIN IN DAIRY AS WE DOUBLE DOWN ON VALUE Building a range of accessible dairy products to drive milk consumption in the country #2 * Competitor 1 29% +70 bps vs Dec ’24 (MAT) Limited Edition Angel x BINI Cans Competitor 2 Building brand credibility & Birch Tree Advance Dec-23
Slide 14: Investing in Emerging Segments to Fuel Growth and Drive Innovations
INVESTING IN EMERGING SEGMENTS TO FUEL GROWTH AND DRIVE INNOVATIONS Scaling up emerging verticals to deliver long-term growth Building capacity to support Winning in key channels Expanding global presence of unMEAT Rising demand for Branded Coconut with value and innovations • Coconut, Pet Food, and
Slide 15: 2025 Outlook
2025 OUTLOOK 2025 Outlook 2025 Growth Drivers Topline 10%- 15% growth • Execute growth strategy with diversified portfolio • Improving consumer outlook supported by easing inflation • Margin pressures from higher input costs to be offset by managed opex spending to deliver bottomline growth in locks
Slide 16: Key Takeaways
KEY TAKEAWAYS ON TRACK TO DELIVER 10% to 15% GROWTH ANCHORED ON OUR MISSION TO PROVIDE AFFORDABLE NUTRITION Remain agile and Multi-cycle portfolio to Sustained profit responsive amidst drive sales, growth with gross volatility in macro with upbeat margin pressures environment Branded segment mitigat
Slide 17: Nourishing Lives, Investing in the Future
Nourishing Lives, Investing in the Future CNPF 1Q25 RESULTS PRESENTATION MAY 2025
Slide 18: Annex
ANNEX
Slide 19: Other Financials
OTHER FINANCIALS
Slide 20: 1Q 2025 Summarized P&L
1Q 2025 SUMMARIZED P&L In PHP Mill 1Q 2024 1Q 2025 Change YoY Net Revenues 18,152 19,936 10% • Revenues grew 10% mainly driven by healthy Cost of Sales 13,414 14,719 10% growth in branded business Gross Profit 4,738 5,217 10% • Branded up 13%, accelerating due to easing Operating Expenses 2,769 2,89
Slide 21: 1Q 2025 Summarized Balance Sheet
1Q 2025 SUMMARIZED BALANCE SHEET In PHP Mill Dec 2024 Mar 2025 In PHP Mill Dec 2024 Mar 2025 Cash 3,228 2,868 Trade and Other Payables 13,787 13,893 Receivables 10,718 11,624 Inventory 18,594 18,891 Notes Payable - Current 224 924 Current Assets 35,985 36,744 Long-Term Loan 3,100 3,100 PPE 10,023 10
Slide 22: 1Q 2025 Summarized Cash Flow
1Q 2025 SUMMARIZED CASH FLOW In PHP Mill 1Q 2024 1Q 2025 • Increase in working capital as higher Profit before Tax 2,037 2,256 receivables and inventories offset higher Depreciation & trade and other payables Amortization 441 469 Working Capital Change (145) (697) • Strong cash generation supported
Slide 23: CCC Stable vs YE 2024
*Working capital days CCC STABLE VS YE 2024 Working Capital Receivables Inventory Payables & Cash Conversion Cycle & Receivable Days & Inventory Days & Payable Days* 84 87 52 55 122 121 90 89 15,525 16,623 10,718 11,624 18,594 18,891 13,787 13,893 FY24 1Q25 FY24 1Q25 FY24 1Q25 FY24 1Q25 • Cash conve
Slide 24: Financial Ratios
FINANCIAL RATIOS 0.11 0.09 • Increase in gearing ratio due to increase in short-term debt, Gearing (x) comfortable levels maintained FY24 - 1Q25 0.03 • Slightly higher net gearing ratio driven Net Gearing (x) by short-term debt 0.00 FY24 - 1Q25 2.47 2.34 • Current ratio decreased vs YE figure Curren
Slide 25: Ortigas Center, Pasig City, Philippines
Ortigas Center, Pasig City, Philippines investorrelations@centurypacific.com.ph +632 8633 8555 www.centurypacific.com.ph http://edge.pse.com.ph www.linkedin.com/company/century-pacific-food-inc-/ www.facebook.com/CenturyPacificFoodInc This document is highly confidential and being given solely for y