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CIC President and CEO Ariel FerminConcepcion Industrial Corporation (CIC), the country’s leading provider of consumer lifestyle and enterprise solutions, reported a 55 percent jump in consolidated earnings to ₱287.4 million for the first quarter of the year.
In a disclosure to the Philippine Stock Exchange, the firm said its solid performance was underpinned by robust sales growth, disciplined cost management, and higher equity earnings from associate, Concepcion Midea Inc. (CMI).
“This quarter’s performance reaffirms the strength of our strategy in navigating an increasingly dynamic market landscape,” said CIC President and CEO Ariel Fermin.
He noted that, “Leveraging our strong product portfolio, operational efficiencies, and strategic market positioning, we are committed to innovation, operational resilience, and reinforcing our market leadership — while continuing to deliver greater value and service to our customers.”
CIC Chief Finance and Operating Officer Rajan Komarasu“This growth highlights our resilience and ability to capitalize on market opportunities despite seasonal fluctuations in demand,” said CIC Chief Finance and Operating Officer Rajan Komarasu.
He added that, “Our topline momentum was matched by disciplined cost management, with operating expenses growing at a slower pace than sales. We remain focused on strengthening productivity and driving sustainable earnings growth.”
CIC posted consolidated net sales of ₱4.8 billion, a 27 percent increase from the same period last year. Including contributions from CMI, total group sales rose 30 percent to ₱6.5 billion.
The consumer segment generated ₱3.5 billion in sales, reflecting 23 percent growth across all product categories. This was driven by improved store presence, effective sales initiatives, and competitively priced product offerings.
Meanwhile, the commercial segment delivered ₱1.3 billion in sales, up 38 percent year- over-year, supported by strong performance in HVAC equipment alongside continued growth in elevator and escalator installations and services.
