Bringing Happy Spaces to Life
Bringing Happy Spaces to Life
Concepcion Industrial Corporation (CIC) has been delivering technology that uplifts the Filipino’s way of life — making their lives easier, comfier, and better — for over 50 years and counting.
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Happier
With world-leading consumer appliance brands and industrial solutions, CIC brings happiness to Filipino homes and buisnesses.
Our Pledge to Innovate
With the future in mind, we are at the forefront of creating new solutions through innovation, staying true to our commitment to serve our customers with quality products and services to create happier spaces for all.
Discover our Story
61
Years of Innovation
2000
Licensed Technicians
230
Offices Nationwide 123123123
61
Years of Innovation
2000
Licensed Technicians
230
Offices Nationwide 123123123
Our Brands
Home and Business Solutions for Every Filipino
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Investor Highlights
We embark on bringing the CIC story to our stakeholders, and building strong partnerships with our investors.
CIC benefitted from the extreme summer season resulting in 2Q23 net sales growth of 19.6% versus the same period last year, led higher by the 35.6% sales growth in air conditioning business. This was partly hampered by the decline in elevator and refrigerator sales. The Company’s performance was also supported by lower losses from foreign exchange. The impact of higher sales volume was partly offset by lower margins due to aggressive promotions and higher OPEX.
Consumer Business generated sales of P3.2 billion, an increase of 11.3% against the same period last year. This was primarily attributed to the increase in demand for window room air conditioner inverter models in 2Q, thereby reversing the sales decline in 1Q. Commercial equipment sales reached P1.1 billion during the quarter, a 50.1% increase versus the comparable period in 2022. This was mainly due to higher project deliveries on VRF ranges and commercial systems.
Performance Spotlight
CIC’s Growth Momentum Accelerates in 2023
In 2023, CIC concluded the year with ₱14.7 billion in net sales and ₱667.3 million in consolidated earnings, an 11% and 86% growth, respectively. Including CMI (Associate), the group reached 15% growth to ₱18.2 billion net sales. Growth was driven by solid sales performance, higher margins, lower foreign exchange loss and share in CMI’s income .
n in net sales, an increase of 3% year over year, primarily attributed to strong performance of residential air conditioning products, laundry equipment and no frost refrigerators. Commercial business achieved net sales of ₱4.6 billion, 36% growth compared to prior year, mainly from air conditioning and elevator equipment sales as well as aftermarket service sales for both product categories.
₱13.17M
2022 Total Sales test
₱358M
Gross Report test
26.75%
Sales Growth in Business test
19.69%
Overall Income Growth test
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 View All ReportsGlobal Synergies, Local Excellence
We are a diversified corporation forming strategic alliances with global industry leaders in order to provide leading products and services for the Philippine market.
COVID-19 Response
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Volunteerism
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Emergency Response
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Environmentalism
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Connecting Communities
CIC’s Sustainability Framework of creating happy spaces for the Filipino people and businesses continues to expand its meaning as we go beyond customers and clients and serve the larger community.
See SustainabilityGlobal Synergies, Local Excellence
We are a diversified corporation forming strategic alliances with global industry leaders in order to provide leading products and services for the Philippine market.
Environmental
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See InitiativesSocial
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See InitiativesEconomic Governance
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Corporate Governance
A Commitment Beyond Compliance
We believe that the key to long-term sustainability and success largely depends on having a good name and solid reputation in the market place.
Learn MoreElevating Excellence, Sustainable Success
We are a diversified corporation forming strategic alliances with global industry leaders in order to provide leading products and services for the Philippine market.
What’s New at CIC
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Latest News
March 04, 2024
Dev Concepcion About Test Article
March 04, 2024
Concepcion Industrial Corporation wins Golden Arrow Award for Corporate Governance
March 04, 2024
Concepcion Industrial Corporation Joins Movement Towards Plastic Responsibility
February 19, 2024
Governance Spotlight: CIC’s Framework for Corporate Integrity Concepcion
Careers
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We seek out talented and likeminded people who are committed to contributing to our vision of creating happier spaces for all. We seek out talented an
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