Century Properties (CPG) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 rose 4.05% year-over-year to ₱3.72B, driven by higher real estate sales and property management services, offset by a 48.7% drop in leasing revenue.

• Net income increased 15.57% to ₱473.28M, with gross profit up 7.69% and net margin improving to 12.7%.

• The company maintained strong liquidity and reduced debt, with a current ratio of 2.2x and debt-to-equity ratio down to 0.7x.

Financial highlights

• Real estate revenue grew 6.96% year-over-year, while leasing revenue declined due to higher vacancy and lower rates.

• Gross profit margin improved to 46% from 44% last year.

• General, administrative, and selling expenses rose 6.82% to ₱909.3M, reflecting support for the expanding first homes segment.

• Interest and other income increased 33.07% due to higher forfeited collections.

• Interest and financing charges fell 9.2% from lower blended borrowing rates.

• Earnings per share (basic/diluted) at ₱0.038, up from ₱0.035.

Outlook and guidance

• No new projects or investments in other business lines were announced for Q1 2025.

• Management expects continued growth in the first homes segment and stable liquidity.

• No material trends or uncertainties are expected to impact sales or income, aside from ongoing pandemic effects.