The company reported consolidated revenues of ₱75.5 billion, reflecting a 12-percent increase year-on-year. Net income grew by 14 percent to ₱6.3 billion, as both its branded products and export-oriented businesses contributed positively despite a soft consumer environment and elevated domestic inflation.
Sales growth was broad-based, with its Original Equipment Manufacturing (OEM) Exports segment leading the way. The export business—consisting of tuna and coconut products—registered a 36-percent YoY growth, fueled by favorable input costs, a low base, and strong global demand for healthy and nutritious food.
Diversified portfolio
Meanwhile, the company’s branded segment, which includes its marine, meat, milk, and other emerging categories, grew 7 percent YoY. This segment accelerated in the fourth quarter, up by 10 percent compared to the same period in the previous year. Volume-led growth, strategic promotions, and strong brand-building efforts helped offset domestic headwinds.
CNPF chief financial officer Chad Manapat credited the group’s resilience to its diversified portfolio.
“Our results in 2024 highlight the balance of our synergistic portfolio. Exports helped cushion a subdued domestic environment, while our brands continued to deliver affordable nutrition despite inflationary pressures,” he said.
Capacity expansion
Gross margins improved by 210 basis points to 26.1 percent, thanks to better input costs. These gains were reinvested into brand campaigns, innovation, and sustainability initiatives. Ebitda (earnings before interest, taxes, depreciation, and amortization)and net profit margins held steady at 12.7 percent and 8.4 percent, respectively.
The company generated strong operating cash flows of ₱8.1 billion, which supported capacity expansion, dividend payouts, and debt repayment. Notably, CNPF completed the acquisition of Coco Harvest Inc., a new coconut processing facility that began operations in November 2024.
Sustainability efforts
CNPF also deepened its sustainability efforts, reducing greenhouse gas emissions by 16 percent and launching its “Sustenido Bulan” sardine sustainability program in Sorsogon. The initiative supports local fisherfolk and contributes to community feeding efforts via the “Kain Po” program.
Looking ahead, Manapat said the company remains cautiously optimistic about 2025, noting early signs of recovery in consumer sentiment while remaining alert to global uncertainties. — Ed: Corrie S. Narisma
