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Manila Bulletin devider Business devider The Stock Market devider Century Properties earnings dip on higher interest payments, lower revenues

Century Properties earnings dip on higher interest payments, lower revenues

Published May 19, 2026 04:07 pm

Century Properties Group Inc. (CPG) reported a six-percent dip in net income to ₱446 million in the first quarter of 2026 from ₱473 million in the comparable period last year due to higher interest expenses and taxes, as well as lower revenues.

In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, May 19, the firm said its earnings before interest, taxes, depreciation, and amortization (EBITDA) improved by five percent to ₱1.04 billion in January to March this year from ₱988 million in the same period last year.

This was driven by disciplined cost management and improved operating efficiency, reflected in its gross profit margin, which improved to 48 percent from 46 percent a year ago.

Consolidated revenues for the period amounted to ₱3.58 billion, slightly lower than the ₱3.72 billion posted a year ago. The first-home residential developments (PHirst Park Homes Inc.) segment remained the largest contributor, generating ₱2.48 billion or 68 percent of total revenues.

Premium residential developments contributed ₱682 million, or 19 percent of total revenues, while commercial leasing and property management contributed ₱297 million and ₱151 million, respectively.

“Our first-quarter performance reflects the resilience of our core businesses and the benefits of disciplined execution across the organization,” said CPG President and Chief Executive Officer (CEO) Marco R. Antonio.

He noted that, “Amid a dynamic operating environment, we remain focused on margin protection, prudent cost management, and calibrating new project launches in line with prevailing market demand.”

The company’s net debt-to-equity ratio remained stable at 0.9 times as of end-March, underscoring its continued focus on maintaining a prudent capital structure and preserving financial flexibility.

“While we remain mindful of short-term headwinds, we continue to be optimistic about the long-term fundamentals of the business. Demand for quality housing across key segments remains supported by structural market needs, and we believe the company is well positioned to pursue opportunities as conditions stabilize,” Antonio said. — James A. Loyola

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