Century Pacific Food, Inc. (CNPF), a leading food company in the Philippines, remains cautiously optimistic in 2025 following a 12% year-on-year (YoY) growth in consolidated revenues to Php 75.5 billion, marking net profit after tax similarly impressed, reaching Php 6.3 billion—a 14% increase compared to FY2023.
“We’re already seeing signs of a better consumer environment. However, we remain mindful of lingering uncertainties in costs and shifts in the global trading landscape, CNPF’s Chief Financial Officer, Chad Manapat noted. “With our diverse and resilient portfolio, we are confident in navigating these challenges while continuing to deliver on our purpose of providing affordable nutrition.”
Manapat reflected on the company’s holistic approach, saying, “Consistent performance and value creation go hand in hand. From our consumers to our communities and shareholders, 2024 was a year of shared progress. We remain committed to fostering long-term, inclusive growth.”
This performance highlights the strength of CNPF’s diversified portfolio, with both its Original Equipment Manufacturing (OEM) Exports and Branded segments contributing to growth.
OEM Exports Drive Momentum
CNPF’s OEM Export business, comprising its Tuna and Coconut export operations, was the star performer for the year. Revenues in this segment skyrocketed by 36% YoY, driven by favorable commodity prices, a low base, and strong global demand for healthy and nutritious products.
Branded Segment Shines Despite Challenges
Despite a subdued consumer environment, the Branded segment posted a 7% YoY revenue increase, with a strong 10% growth in Q4 alone. This segment, which includes categories such as Marine, Meat, Milk, and emerging verticals, benefited from volume-led growth supported by its multi-tiered portfolio of brands, strategic promotional campaigns, and targeted brand-building efforts.
CNPF’s Chief Financial Officer, Chad Manapat, attributed the company’s robust performance to its diversified business model, stating, “Our 2024 results underscore the resilience and balance of our synergistic portfolio. Diversification enabled us to weather economic headwinds, with our exports benefiting from a favorable commodity cycle and global demand, lifting our performance amid a subdued domestic market.”
Solid Financial Foundations
Gross margins expanded by 210 basis points to 26.1%, reflecting improved input costs. The company strategically reinvested these gains into demand-generating activities, brand-building efforts, and sustainability initiatives, maintaining stable EBITDA and net profit margins at 12.7% and 8.4%, respectively.
Operating cash flows amounted to Php 8.1 billion, ensuring adequate funding for capacity expansions, dividend increases, and debt repayments. During the year, CNPF also completed the acquisition of Coco Harvest, Inc., a coconut processing facility that began operations in November 2024.
Commitment to Sustainability and Community Impact
CNPF made significant advancements in sustainability in 2024, reducing greenhouse gas emissions by 16% through the expansion of its solar and biomass capacity. The company also launched Sustenido Bulan, a sardine sustainability program aimed at promoting responsible fishing practices while supporting local fisherfolk. Through its feeding program, Kain Po, CNPF provided quality nutrition to underserved communities.
