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:
Financial Highlights
- 4%
- -15%
- +15%
- +22%
Net Sales (Millions) & Gross Margin
- -33%
- -104%
- +370%
- +309%
Profit After Tax (millions)
- -49%
- -110%
- -179%
- +272%
Profit After Tax After Minority Interest (millions)
Q3 2023 RESULTS
CIC delivered solid results in 3Q23 with net sales of P3.6 billion exceeding pre-pandemic levels mainly driven by the air conditioning and elevator and escalator categories.
Consumer business generated P2.3 billion in net sales, a 6% increase year on year, largely from air conditioning product sales at 19% growth. While refrigeration sales were down 8% due to direct cool refrigerators, no frost refrigerators sales increased 25% due to introduction of new models. Other appliances continued growth momentum at 27% primarily from laundry products.
Commercial business exhibited strong performance with sales of P1.3 billion or 63% growth versus prior year. The air conditioning business grew 61% while sales in the elevator & escalator business increased by 66% due to higher project deliveries during the quarter.
Earnings quadrupled to P139 million compared to the same period last year owing to sustained sales growth performance, better operational efficiency and lower foreign currency loss.
| In Millions php | Q2 2023 | Q2 2022 | % Change |
|---|---|---|---|
|
Net Sales |
P3,626 |
P2,973 |
22% |
|
Gross Profit Gross Margin (%) |
P1,130 31.2% |
P939 31.6% |
20.3% |
|
OPEX % of Sales |
-924 -25.5% |
-831 -28.0% |
-11.2% 0.96% |
|
Profit Before Tax Return on Sales (%) |
194 5.4% |
38 9.3% |
412% 408.2% |
|
Profit After Tax PAT (%) |
139 |
34 |
309.5% |
|
Net Income Attributable to Shareholders |
72 |
19 |
272.4% |
|
Financial Position |
30-Sep-23 |
31-Dec-22 |
|
|
Consolidated Cash Balance |
2276 |
1336 |
70.4% |
|
Total Assets |
12,375 |
11,771 |
5.1% |
|
Total Liabilities |
5,602 |
5,072 |
10.5% |
| In Millions php |
|---|
|
Net Sales Q2 2023 P3,626 Q2 2022 P2,973 % Change 22% |
|
Gross Profit Gross Margin (%) Q2 2023 P1,130 31.2% Q2 2022 P939 31.6% % Change 20.3% |
|
OPEX % of Sales Q2 2023 -924 -25.5% Q2 2022 -831 -28.0% % Change -11.2% 0.96% |
|
Profit Before Tax Return on Sales (%) Q2 2023 194 5.4% Q2 2022 38 9.3% % Change 412% 408.2% |
|
Profit After Tax PAT (%) Q2 2023 139 Q2 2022 34 % Change 309.5% |
|
Net Income Attributable to Shareholders Q2 2023 72 Q2 2022 19 % Change 272.4% |
|
Financial Position Q2 2023 30-Sep-23 Q2 2022 31-Dec-22 % Change |
|
Consolidated Cash Balance Q2 2023 2276 Q2 2022 1336 % Change 70.4% |
|
Total Assets Q2 2023 12,375 Q2 2022 11,771 % Change 5.1% |
|
Total Liabilities Q2 2023 5,602 Q2 2022 5,072 % Change 10.5% |
Top Stockholders
| Name of Stockholders | Number of Shares Held | Percentage of Shared Held |
|---|---|---|
| Name of Stockholders |
|---|
|
Number of Shares Held
Percentage of Shares Held
|
Shareholder Services and Assistance
For inquiries regarding dividend payments, change of address and account status, lost or damaged stock certificates, please contact our stock transfer agent:
STOCK TRANSFER SERVICE, INC.
(through Ms. Maricor P. Biag)
Unit D 34th Floor, Rufino Plaza, Ayala Avenue, Makati City
Tel #: 5310-1343
I want to sell my shares. How do I go about this?
The stockholder may transact through their broker or any other active broker members of Philippine Stock Exchange.
What is the market price of my shares of stocks?
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.
Where can I find copies of Company Reports and Policies?
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.
When is CIC’s Annual Stockholders’ Meeting?
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.
How can I inquire about other investor relations matters?
You may send an e-mail on your concern through investorrelations@cic.ph.
For inquiries regarding dividend payments, change of address and account status, lost or damaged stock certificates, please contact our stock transfer agent:
STOCK TRANSFER SERVICE, INC.
(through Ms. Maricor P. Biag)
Unit D 34th Floor, Rufino Plaza, Ayala Avenue, Makati City
Tel #: 5310-1343
I want to sell my shares. How do I go about this?
The stockholder may transact through their broker or any other active broker members of Philippine Stock Exchange.
What is the market price of my shares of stocks?
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.
Where can I find copies of Company Reports and Policies?
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.
When is CIC’s Annual Stockholders’ Meeting?
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.
How can I inquire about other investor relations matters?
You may send an e-mail on your concern through investorrelations@cic.ph.
Our Commitment to Shareholders
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Annual Stockholders’ Meeting
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Board of Directors
Special Stockholders’ Meeting
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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.
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