Century Pacific Food, Inc.CNPF

CNPF 9M26 Revenues Grow 14%, Core Net Income Rises 10%
Healthy Operating Performance Tempered by One-Off Earthquake Impacts

▪ 9M26 unaudited revenues grew 14% year-on-year (YoY), with 3Q26 up 12% versus the same period last year.
▪ The Company’s dual-engine portfolio drove the growth, with Branded remaining resilient at 12% and OEM Exports sustaining its recovery at 21% versus the same nine-month period last year.
▪ 9M26 gross margin expanded by 10 basis points (bps) to 25.6%, while operating expenses as a percentage of sales decreased by 30 bps, lifting core operating income by 20%.
▪ Non-recurring earthquake-related losses amounting to Php 1.2 billion were recognized during the nine-month period. These are subject to insurance recoveries that are expected to be recognized in future periods.
▪ 9M26 headline net income after tax (NIAT) declined by 11% YoY. Excluding the impact of the earthquake, core NIAT improved by 10% YoY, tempered by higher effective tax rates and finance costs.

Century Pacific Food, Inc. (PSE:CNPF), one of the leading food companies in the Philippines, kept its growth on track for the first nine months of 2026. Unaudited consolidated revenues amounted to Php 70.5 billion during the period, growing by 14% YoY amid persistent headwinds. This performance was supported by its diversified portfolio spanning Branded and OEM Exports segments. Consolidated sales in the third quarter increased by 12% YoY and 8% quarter-on-quarter.

DUAL-ENGINE PORTFOLIO DELIVERING STEADY GROWTH
The Branded segment, which caters predominantly to the domestic market, forms the majority of CNPF’s sales. Within the nine-month period, Branded remained resilient, delivering a volume-led growth rate of 12% on the back of the Company’s portfolio of affordable and value-for-money pantry essentials. All subsegments, Marine, Meat, Milk, Coconut, and other emerging segments, contributed to the performance.

Meanwhile, CNPF’s Original Equipment Manufacturer (OEM) Exports business maintained its recovery during the period. Export sales increased by 21% from a low base, supported by long-term contracts and continued demand in key markets. With its dollar-denominated revenues, OEM Exports serves as a natural hedge against the Company’s imported inputs, mitigating the impact of a weaker peso.

HEALTHY OPERATING PERFORMANCE TEMPERED BY EARTHQUAKE IMPACTS
For the first nine months, CNPF posted improvements in gross margin and operating efficiency, driven by measured pricing action and tighter spending. Gross margin inched up by 10 bps to 25.6%, and operating expenses as a percentage of sales fell by 30 bps to 13.9%. These improvements supported the 20% YoY growth in operating income before non-recurring earthquake losses.

In June, a 7.8-magnitude earthquake struck General Santos, where CNPF operates key production facilities. Operations fully resumed by the start of the third quarter, with no permanent impairment to the Company’s production capabilities. These facilities and inventory are covered by insurance.

Non-recurring earthquake-related losses amounting to Php 1.2 billion were recognized during the period, tempering headline operating income growth to 4% YoY. Insurance recoveries are expected to be recognized in future periods.

Below the operating line, CNPF recorded higher effective tax rates and finance costs, due to the expiration of tax incentives and a moderate increase in leverage. Together with earthquake-related one-offs, these brought headline NIAT to Php 5.2 billion, reflecting a decline of 11% versus the same period last year. Nonetheless, core NIAT continued to grow by 10% YoY.

BALANCING NEAR- AND LONG-TERM PRIORITIES
Chad Manapat, CNPF Chief Financial Officer, said, “This year has been an uphill climb, marked by geopolitical uncertainties, inflationary pressures, subdued consumer sentiment, and natural calamities. All things considered, we remain grateful for the results we have achieved thus far. Our diverse portfolio and healthy balance sheet have kept us resilient, allowing us to maneuver through headwinds while continuing to invest in our long-term growth.”

This year, CNPF is accelerating investments in capacity expansion. The Company has allocated approximately Php 8 billion in capital expenditures for 2026, of which Php 5 billion had been deployed as of end-September. These are primarily earmarked for expanding its coconut facilities and building new facilities for its dairy and pet food segments, supporting the Company’s ambitions to further scale these fast-growing businesses.

Manapat shared, “While much uncertainty remains, we aspire to close the year with our double-digit growth trajectory intact for our topline, with core bottomline growth trailing. This is anchored on our disciplined focus on delivering value to consumers through our portfolio of pantry essentials, with relevant promotions and innovations, and keeping a tight grip on costs. In parallel, preparations are underway to help mitigate the impacts of El Niño and safeguard supply continuity.”

“As 2027 approaches, we plan to build on this year’s progress. With additional capacity coming online and continued investments in our brands and operations, we remain cautiously optimistic about our growth prospects. Ultimately, we aim to sustain this momentum, all in service of our mission to deliver affordable nutrition to Filipino families,” he concluded.


Disclaimer: This press release includes forward-looking statements. Such forward-looking statements are management’s present expectations of future events and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The reader is cautioned not to rely on such forward-looking statements, which speak only as of the date they were made. All subsequent forward-looking statements attributable to the Company, its affiliates or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements referred to in this press release.

About CNPF: Century Pacific Food, Inc. (PSE: CNPF) is one of the Philippines' leading branded food and beverage companies. It is primarily engaged in the manufacturing, marketing, and distribution of processed marine, meat, milk, coconut, plant-based, and pet products. With an established track record in brand-building spanning more than 40 years, it holds a roster of household names which include Century Tuna, Argentina, 555, Ligo, and Birch Tree. These brands of the Company hold market leading positions locally and are growing their presence abroad. Further, the Company also operates as one of the Philippines' leading providers of private label tuna and coconut products for export overseas.