Century Properties Group Inc. (CPG or the Company) reported consolidated net income after tax of ₱2.35 billion for the nine months ended September 30, 2026, up 11.4% from ₱2.11 billion in the same period of 2025. Earnings rose on higher EBITDA, stronger operating margins and a lower income-tax provision following the SEC-approved merger with PHirst Park Homes Inc. (PHirst). Consolidated EBITDA increased 2% to ₱4.06 billion from ₱3.99 billion, while EBITDA margin improved to 34% from 32%. Revenue totaled ₱12.03 billion, down 2% from ₱12.31 billion a year earlier. PHirst remained CPG’s principal growth driver. Its revenues grew 7% year-on-year and contributed 75% of consolidated revenues. Amid economic and political uncertainty, take-up remains steady, driven by the structural housing backlog and broader access to Pag-IBIG financing, both of which favor Phirst, the company’s affordable horizontal housing segment. Century Premium accounted for approximately 15% of consolidated revenues, while Commercial Leasing and Property Management Services contributed 6% and 4%, respectively, providing recurring and complementary support to the residential business. As of October 31, 2026, the Company has launched five projects. PHirst launched four, in Tayabas, Quezon; Calauan, Laguna; Lipa City, Batangas; and Baliuag, Bulacan, totaling 60 hectares and 5,575 units, while Century Premium launched one in General Trias, Cavite, covering 25 hectares and 1,235 units. “Our nine-month results reflect improved operating profitability, with higher EBITDA and stronger margins despite lower revenue,” said Marco Antonio, CPG President and Chief Operating Officer. “The SEC-approved merger with PHirst Park Homes is an important milestone in simplifying our corporate structure and realizing financial efficiencies.” The Securities and Exchange Commission approved the merger in September 2026. CPG absorbed PHirst Park Homes Inc. and is the surviving corporation. By bringing the businesses under a single legal and axable entity, the merger simplifies the corporate structure and allows CPG to realize certain deferred tax assets associated with eligible net operating loss carry-over (NOLCO). “The merger lets us apply eligible NOLCO deductions against taxable income in the surviving entity,” said Rodel V. Marqueses, Chief Financial Officer and Head of Investor Relations of CPG. “Recognizing the deferred tax assets supports reported net income, and the deductions can reduce current taxes and preserve cash, subject to applicable tax rules.” |