Announcement • Jun 18
Century Pacific Food Temporarily Suspends and Gradually Resumes Operations At Tuna and Coconut Facilities in General Santos After 7.8 Magnitude Earthquake Century Pacific Food, Inc. had a 7.8 magnitude earthquake affect General Santos City, where certain Company facilities are located, namely its tuna and coconut manufacturing facilities. During the earthquake, operations at the affected facilities were temporarily suspended as a precautionary measure to ensure the safety and well-being of employees and personnel. Evacuation protocols were successfully implemented. All employees and personnel were marked safe. Following structural safety assessments, the Company has begun resuming partial operations at its tuna and coconut facilities in General Santos, including logistics operations, a week after the earthquake. The Company expects to gradually restore operations over the next one to two weeks as further safety assessments are completed and necessary repairs are carried out. The Company has mobilized response efforts on the ground, including the provision of relief assistance to affected communities and financial assistance to employees impacted by the earthquake. The Company remains committed to supporting its employees, the affected communities, and ongoing recovery efforts in General Santos City. As part of the Company's business continuity planning, its facilities and inventory are covered by insurance. The Company also maintains sufficient inventory across its nationwide distribution network to continue serving customer requirements. Based on information currently available, the Company expects disruptions arising from the incident to be temporary and the overall impact on its business operations and financial condition to be limited. The Company will continue to monitor developments closely and provide further updates to the investing public as necessary. New Risk • May 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Filipino stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (dividend per share is over 9x cash flows per share). Share price has been volatile over the past 3 months (7.5% average weekly change). Recent Insider Transactions • Apr 29
EVP, CFO recently bought ₱1.3m worth of stock On the 28th of April, Richard Kristoffer Manapat bought around 43k shares on-market at roughly ₱30.20 per share. This transaction amounted to 32% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱4.2m. This was Richard Kristoffer's only on-market trade for the last 12 months. Recent Insider Transactions • Apr 23
Insider recently bought ₱4.2m worth of stock On the 17th of April, Teddy Kho bought around 133k shares on-market at roughly ₱31.33 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱4.2m more in shares than they have sold in the last 12 months. Reported Earnings • Apr 16
Full year 2025 earnings: EPS in line with analyst expectations despite revenue beat Full year 2025 results: EPS: ₱2.00 (up from ₱1.79 in FY 2024). Revenue: ₱83.3b (up 10% from FY 2024). Net income: ₱7.07b (up 12% from FY 2024). Profit margin: 8.5% (up from 8.4% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 8% per year. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₱32.00, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 15x in the Food industry in Asia. Total returns to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₱52.36 per share. Declared Dividend • Feb 18
Dividend of ₱0.60 announced Shareholders will receive a dividend of ₱0.60. Ex-date: 2nd March 2026 Payment date: 25th March 2026 Dividend yield will be 3.0%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is covered by earnings (28% earnings payout ratio) but not covered by cash flows (127% cash payout ratio). The dividend has increased by an average of 31% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 23% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 17
Century Pacific Food, Inc. announces Annual dividend, payable on March 25, 2026 Century Pacific Food, Inc. announced Annual dividend of PHP 0.6000 per share payable on March 25, 2026, ex-date on March 02, 2026 and record date on March 03, 2026. Announcement • Feb 16
Century Pacific Food, Inc., Annual General Meeting, Jun 30, 2026 Century Pacific Food, Inc., Annual General Meeting, Jun 30, 2026. Location: via videoconference, United States Buy Or Sell Opportunity • Jan 20
Now 21% undervalued Over the last 90 days, the stock has risen 9.2% to ₱39.35. The fair value is estimated to be ₱49.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 17% in 2 years. Earnings are forecast to grow by 25% in the next 2 years. Buy Or Sell Opportunity • Dec 15
Now 21% undervalued Over the last 90 days, the stock has risen 1.2% to ₱39.20. The fair value is estimated to be ₱49.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 17% in 2 years. Earnings are forecast to grow by 25% in the next 2 years. Buy Or Sell Opportunity • Nov 26
Now 21% undervalued Over the last 90 days, the stock has risen 11% to ₱39.50. The fair value is estimated to be ₱49.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 17% in 2 years. Earnings are forecast to grow by 24% in the next 2 years. Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: ₱0.53 (vs ₱0.46 in 3Q 2024) Third quarter 2025 results: EPS: ₱0.53 (up from ₱0.46 in 3Q 2024). Revenue: ₱22.1b (up 15% from 3Q 2024). Net income: ₱1.89b (up 15% from 3Q 2024). Profit margin: 8.5% (in line with 3Q 2024). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Oct 27
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.6% to ₱34.55. The fair value is estimated to be ₱44.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.6% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to grow by 24% in the next 2 years. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: ₱0.56 (vs ₱0.54 in 2Q 2024) Second quarter 2025 results: EPS: ₱0.56 (up from ₱0.54 in 2Q 2024). Revenue: ₱19.8b (up 1.0% from 2Q 2024). Net income: ₱1.99b (up 4.3% from 2Q 2024). Profit margin: 10% (in line with 2Q 2024). Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Jul 22
Upcoming dividend of ₱0.55 per share Eligible shareholders must have bought the stock before 29 July 2025. Payment date: 15 August 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Filipino dividend payers (6.0%). Lower than average of industry peers (4.7%). Announcement • Jul 02
Century Pacific Food, Inc. Approves Declaration of Special Cash Dividend, Payable on August 15, 2025 The Board of Directors of Century Pacific Food, Inc. approved the declaration of special cash dividend of Fifty-Five Centavos (Php0.55) per share to all stockholders of record as of July 30, 2025 payable on August 15, 2025. Declared Dividend • Jul 02
Dividend increased to ₱0.55 Dividend of ₱0.55 is 15% higher than last year. Ex-date: 29th July 2025 Payment date: 15th August 2025 Dividend yield will be 2.7%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is covered by both earnings (30% earnings payout ratio) and cash flows (74% cash payout ratio). The dividend has increased by an average of 31% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • Apr 24
Insider recently bought ₱720k worth of stock On the 21st of April, Teddy Kho bought around 20k shares on-market at roughly ₱36.00 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱1.6m more in shares than they have sold in the last 12 months. Reported Earnings • Apr 17
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: ₱1.79 (up from ₱1.58 in FY 2023). Revenue: ₱75.5b (up 13% from FY 2023). Net income: ₱6.34b (up 14% from FY 2023). Profit margin: 8.4% (up from 8.3% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.0%. Revenue is forecast to grow 8.4% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 26
Century Pacific Food, Inc., Annual General Meeting, Jun 30, 2025 Century Pacific Food, Inc., Annual General Meeting, Jun 30, 2025, at 08:30 W. Australia Standard Time. Location: via videoconference, Philippines Upcoming Dividend • Feb 21
Upcoming dividend of ₱0.55 per share Eligible shareholders must have bought the stock before 28 February 2025. Payment date: 26 March 2025. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Filipino dividend payers (6.9%). Lower than average of industry peers (4.8%). Announcement • Feb 17
Century Pacific Food, Inc Approves Regular Cash Dividend, Payable on March 26, 2025 Century Pacific Food, Inc. announced that the Board of Directors has approved the declaration of regular cash dividend of 55 Centavos (PHP 0.55) per share to all stockholders of record as of March 3, 2025, payable on March 26, 2025. Date of Approval by Board of Directors: February 17, 2025. Buy Or Sell Opportunity • Feb 03
Now 31% overvalued Over the last 90 days, the stock has fallen 1.7% to ₱40.50. The fair value is estimated to be ₱31.01, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 10%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 29% in the next 2 years. Price Target Changed • Nov 25
Price target increased by 8.7% to ₱44.04 Up from ₱40.53, the current price target is an average from 7 analysts. New target price is 6.1% above last closing price of ₱41.50. Stock is up 37% over the past year. The company is forecast to post earnings per share of ₱1.82 for next year compared to ₱1.58 last year. Reported Earnings • Nov 07
Third quarter 2024 earnings released: EPS: ₱0.46 (vs ₱0.40 in 3Q 2023) Third quarter 2024 results: EPS: ₱0.46 (up from ₱0.40 in 3Q 2023). Revenue: ₱19.2b (up 13% from 3Q 2023). Net income: ₱1.64b (up 15% from 3Q 2023). Profit margin: 8.6% (up from 8.4% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Oct 25
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 20% to ₱40.90. The fair value is estimated to be ₱33.85, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 9.7%. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 28% in the next 2 years. Announcement • Sep 06
Century Pacific Food, Inc. (PSE:CNPF) acquired Coco Harvest Inc for $40 million. Century Pacific Food, Inc. (PSE:CNPF) acquired Coco Harvest Inc for $40 million on September 5, 2024. A cash consideration of $40 million will be paid by Century Pacific Food, Inc. As part of consideration, $40 million is paid towards common equity of Coco Harvest Inc. The transaction will be financed through Century Pacific Food, Inc of $40 million.
Century Pacific Food, Inc. (PSE:CNPF) completed the acquisition Coco Harvest Inc for $40 million on September 5, 2024. Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: ₱0.54 (vs ₱0.48 in 2Q 2023) Second quarter 2024 results: EPS: ₱0.54 (up from ₱0.48 in 2Q 2023). Revenue: ₱19.6b (up 10% from 2Q 2023). Net income: ₱1.91b (up 13% from 2Q 2023). Profit margin: 9.8% (in line with 2Q 2023). Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 10% per year and the company’s share price has also increased by 10% per year. Upcoming Dividend • Jul 23
Upcoming dividend of ₱0.48 per share Eligible shareholders must have bought the stock before 30 July 2024. Payment date: 16 August 2024. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Filipino dividend payers (6.2%). Lower than average of industry peers (4.1%). Announcement • Jul 01
Century Pacific Food, Inc. Approves Special Cash Dividend, Payable on August 16, 2024 Century Pacific Food, Inc. Board of Directors on July 1, 2024 approved the declaration of special cash dividend of PHP 0.48 per share to all stockholders of record as of July 31, 2024 payable on August 16, 2024. Recent Insider Transactions • May 18
VP of Finance recently bought ₱882k worth of stock On the 15th of May, Richard Kristoffer Manapat bought around 26k shares on-market at roughly ₱33.40 per share. This transaction amounted to 24% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱1.1m. Richard Kristoffer has been a buyer over the last 12 months, purchasing a net total of ₱1.9m worth in shares. Reported Earnings • May 09
First quarter 2024 earnings released: EPS: ₱0.49 (vs ₱0.42 in 1Q 2023) First quarter 2024 results: EPS: ₱0.49 (up from ₱0.42 in 1Q 2023). Revenue: ₱18.2b (up 16% from 1Q 2023). Net income: ₱1.72b (up 15% from 1Q 2023). Profit margin: 9.5% (in line with 1Q 2023). Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 16
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: ₱1.58 (up from ₱1.41 in FY 2022). Revenue: ₱67.1b (up 7.8% from FY 2022). Net income: ₱5.58b (up 12% from FY 2022). Profit margin: 8.3% (up from 8.0% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) exceeded analyst estimates by 3.9%. Revenue is forecast to grow 10.0% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 03
Century Pacific Food, Inc., Annual General Meeting, Jul 01, 2024 Century Pacific Food, Inc., Annual General Meeting, Jul 01, 2024, at 08:30 Singapore Standard Time. Agenda: To consider approval of the Minutes of the Stockholders' Meeting held on July 6, 2023; to consider Management's Report; to consider ratification of Acts of the Board of Directors and Management During the Previous Year; to consider election of Directors (including Independent Directors); to consider appointment of External Auditor; to consider other Matters; and to consider adjournment. Upcoming Dividend • Mar 13
Upcoming dividend of ₱0.48 per share Eligible shareholders must have bought the stock before 20 March 2024. Payment date: 19 April 2024. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Filipino dividend payers (5.9%). Lower than average of industry peers (3.4%). Recent Insider Transactions • Mar 02
Insider recently bought ₱1.1m worth of stock On the 29th of February, Teddy Kho bought around 32k shares on-market at roughly ₱34.40 per share. This transaction amounted to 4.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱7.7m more in shares than they have sold in the last 12 months. Declared Dividend • Feb 21
Dividend increased to ₱0.48 Dividend of ₱0.48 is 20% higher than last year. Ex-date: 20th March 2024 Payment date: 19th April 2024 Dividend yield will be 1.4%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is well covered by both earnings (13% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has increased by an average of 22% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 29% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 20
Century Pacific Food, Inc. Approves Regular Cash Dividend, Payable on April 19, 2024 Century Pacific Food, Inc. approved the declaration of a regular cash dividend of PHP 0.24 per share to all stockholders of record as of March 21, 2024, payable on April 19, 2024. Announcement • Feb 19
Century Pacific Food, Inc. Approves Special Cash Dividend, Payable on April 4, 2023 Century Pacific Food, Inc. approved the declaration of special cash dividend of PHP 0.24 share to all stockholders of record as of March 21, 2024 payable on April 19, 2024. Recent Insider Transactions • Feb 04
Insider recently bought ₱337k worth of stock On the 26th of January, Teddy Kho bought around 11k shares on-market at roughly ₱32.05 per share. This transaction amounted to 1.5% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱865k. Insiders have collectively bought ₱6.4m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Dec 22
VP of Finance recently bought ₱218k worth of stock On the 19th of December, Richard Kristoffer Manapat bought around 7k shares on-market at roughly ₱31.20 per share. This transaction amounted to 8.9% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱404k. This was Richard Kristoffer's only on-market trade for the last 12 months. Reported Earnings • Nov 09
Third quarter 2023 earnings released: EPS: ₱0.40 (vs ₱0.36 in 3Q 2022) Third quarter 2023 results: EPS: ₱0.40 (up from ₱0.36 in 3Q 2022). Revenue: ₱17.0b (up 7.3% from 3Q 2022). Net income: ₱1.43b (up 13% from 3Q 2022). Profit margin: 8.4% (up from 8.0% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Oct 20
Corporate Secretary recently bought ₱404k worth of stock On the 17th of October, Manuel Gonzalez bought around 14k shares on-market at roughly ₱29.48 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱4.6m more in shares than they have sold in the last 12 months. Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: ₱0.48 (vs ₱0.44 in 2Q 2022) Second quarter 2023 results: EPS: ₱0.48 (up from ₱0.44 in 2Q 2022). Revenue: ₱17.8b (up 8.8% from 2Q 2022). Net income: ₱1.70b (up 10% from 2Q 2022). Profit margin: 9.6% (in line with 2Q 2022). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Jul 21
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Steve Cuunjieng was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • May 30
Insider recently bought ₱3.3m worth of stock On the 25th of May, Teddy Kho bought around 147k shares on-market at roughly ₱22.50 per share. This transaction amounted to 27% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱4.3m more in shares than they have sold in the last 12 months. Announcement • May 23
Century Pacific Food, Inc. has completed a Follow-on Equity Offering in the amount of PHP 2.8044 billion. Century Pacific Food, Inc. has completed a Follow-on Equity Offering in the amount of PHP 2.8044 billion.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 114,000,000
Price\Range: PHP 24.6
Transaction Features: Regulation S; Subsequent Direct Listing Recent Insider Transactions • Apr 18
Insider recently bought ₱468k worth of stock On the 14th of April, Teddy Kho bought around 19k shares on-market at roughly ₱24.52 per share. This transaction amounted to 3.7% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱576k. Insiders have collectively bought ₱1.0m more in shares than they have sold in the last 12 months. Upcoming Dividend • Mar 08
Upcoming dividend of ₱0.40 per share at 1.4% yield Eligible shareholders must have bought the stock before 15 March 2023. Payment date: 04 April 2023. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Filipino dividend payers (5.4%). Lower than average of industry peers (2.8%). Recent Insider Transactions • Feb 02
Insider recently bought ₱576k worth of stock On the 30th of January, Teddy Kho bought around 24k shares on-market at roughly ₱23.88 per share. This transaction amounted to 4.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Independent Director Gina Lorenzana was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 04
Third quarter 2022 earnings: EPS misses analyst expectations Third quarter 2022 results: EPS: ₱0.36 (in line with 3Q 2021). Revenue: ₱15.9b (up 13% from 3Q 2021). Net income: ₱1.27b (flat on 3Q 2021). Profit margin: 8.0% (down from 9.0% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.6%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Food industry in Asia. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 16% per year. Announcement • Sep 01
unMEAT Introduces Fish-Free Tuna, the Next Evolution in Plant-Based Food unMEAT announced the launch of its new fish-free tuna via online retailers and select supermarkets across the country. As the next evolution in plant-based foods, unMEAT’s fish-free tuna offers three varieties – Tuna in Sunflower Oil, Tuna in Water and Tuna Hot & Spicy – perfect for flexitarians, vegetarians, vegans or those just looking to add more plant-based foods in their diet. Canned tuna is the number one canned food in the United States, occupying four of the top 25 canned foods. However, today’s consumer is more knowledgeable about the risks of high mercury and metal levels in canned tuna from some of America’s most recognized food brands. These health concerns have opened up the tuna market for all diet options – from vegans to pescatarians and more. unMEAT Fish-Free Tuna is made with non-GMO ingredients and exceeds tuna in texture, nutrition and most importantly, taste. It is lower in fat and calories, contains zero mercury and zero trans-fat. Based on a taste test with MetrixLab, two in three consumers would select unMEAT Tuna over real tuna. In addition, unMEAT Tuna delivered a three-to-one preference in comparison to other plant-based tunas. unMEAT Fish-Free Tuna is available via online retailers, GTFO, It’s Vegan! and Weee!, along with select stores throughout the Midwest and East Coast. Additional national retailer availability is expected to roll out this fall. Reported Earnings • Aug 04
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: ₱0.44 (up from ₱0.40 in 2Q 2021). Revenue: ₱16.3b (up 20% from 2Q 2021). Net income: ₱1.54b (up 7.8% from 2Q 2021). Profit margin: 9.4% (down from 11% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 8.6%. Earnings per share (EPS) also surpassed analyst estimates by 121%. Over the next year, revenue is forecast to grow 8.6%, compared to a 16% growth forecast for the industry in Philippines. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 20% per year. Upcoming Dividend • Jul 19
Upcoming dividend of ₱0.36 per share Eligible shareholders must have bought the stock before 26 July 2022. Payment date: 15 August 2022. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Filipino dividend payers (5.1%). Lower than average of industry peers (3.1%). Announcement • Jul 09
Century Pacific Food, Inc. Makes Waves in Plant-Based Seafood Alternatives with unMEAT Fish-Free Tuna Century Pacific Food, Inc. released its latest innovation in plant-based alternatives, unMEAT Fish-free Tuna. In its efforts to double down on its plant-based meat alternatives business, CNPF has been expanding the `unMEAT' portfolio at full tilt. In 2021, the company rolled out its shelf-stable unMEAT luncheon meat line and unCHEESE, a plant-based dairy alternative. Earlier this year, a localized breakfast range was introduced to the Philippine domestic market. With the launch of new unMEAT Fish-free Tuna, CNPF leveraged its might in developing leading tuna products. The innovation boasts of a taste, texture, and appearance that is undeniably like tuna but is completely fish-free. It is made with 100% plant-based ingredients non-GMO soy, natural oils, and flavors. Within two months after its launch, unMEAT Fish-free Tuna has already gained distribution in over 500 retail outlets in the United States, Singapore, and United Arab Emirates, where it is carried in retail giant Carrefour. It is also available in specialty vegan e-commerce sites in the United States, GTFO and Vejii. According to Banzon, the Company is very confident about the product's performance and potential. In a recent survey conducted in the United States by a third party market research firm, unMEAT Fish-free Tuna significantly wins over leading plant-based tuna brands in the country. Seven out of ten respondents claim that unMEAT Fish-free Tuna is significantly superior to other brands in terms of taste. They also find that it most closely resembles tuna in terms of appearance and texture. CNPF launched `unMEAT' in 2020 in response to the expanding consumer preference for healthier, better-for-you, and better-for-the-planet food choices. The company goes by the philosophy that eating plant-based food should be easy, thus offerings are made and priced as close as possible to their real meat and seafood counterparts. unMEAT began with an institutional roll out domestically through Shakey's Pizza, which the CNPF immediately followed up with a retail launch across major supermarkets nationwide. The Company began the global rollout of unMEAT in 2021. At present, unMEAT is being distributed in the UAE, United States, China, Australia, and Singapore. Announcement • Jun 30
Century Pacific Food, Inc. Approves Regular Cash Dividend, Payable on August 15, 2022 Century Pacific Food, Inc. approved the declaration of regular cash dividend of Eighteen Centavos (Php0.18) per share to all stockholders of record as of July 29, 2022 payable on August 15, 2022. Announcement • Jun 29
Century Pacific Food, Inc. Promotes Edwin C. Africa as Executive Vice President - Corporate General Manager and Group Business Unit Head, Effective July 1, 2022 Century Pacific Food, Inc. announced the promotion of Edwin C. Africa from Senior Vice President and General Manager to Executive Vice President - Corporate General Manager and Group Business Unit Head, effective July 1, 2022. Reported Earnings • May 05
First quarter 2022 earnings: EPS misses analyst expectations First quarter 2022 results: EPS: ₱0.40 (up from ₱0.36 in 1Q 2021). Revenue: ₱14.7b (up 10% from 1Q 2021). Net income: ₱1.41b (up 9.9% from 1Q 2021). Profit margin: 9.6% (in line with 1Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.1%. Over the next year, revenue is forecast to grow 12%, compared to a 14% growth forecast for the industry in Philippines. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 15% per year. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Independent Director Gina Lorenzana was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 19
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: ₱1.32 (up from ₱1.10 in FY 2020). Revenue: ₱54.7b (up 13% from FY 2020). Net income: ₱4.67b (up 21% from FY 2020). Profit margin: 8.5% (up from 8.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.1%. Over the next year, revenue is forecast to grow 10%, compared to a 13% growth forecast for the industry in Philippines. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Apr 04
Century Pacific Food, Inc., Annual General Meeting, Jun 30, 2022 Century Pacific Food, Inc., Annual General Meeting, Jun 30, 2022, at 08:30 Singapore Standard Time. Agenda: To consider Management's Report; to consider the ratification of Acts of the Board of Directors and Management During the Previous Year; to consider the election of Directors (including Independent Directors); to consider the appointment of External Auditor; and to consider other matters. Board Change • Apr 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Independent Director Gina Lorenzana was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 21% share price decline to ₱19.98, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 17x in the Food industry in Asia. Total returns to shareholders of 36% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₱28.69 per share. Buying Opportunity • Mar 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be ₱28.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% per annum over the last 3 years. Earnings per share has grown by 18% per annum over the last 3 years. Reported Earnings • Nov 04
Third quarter 2021 earnings released: EPS ₱0.36 (vs ₱0.29 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₱14.1b (up 21% from 3Q 2020). Net income: ₱1.26b (up 22% from 3Q 2020). Profit margin: 9.0% (up from 8.8% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Sep 28
Founder & Chairman Emeritus recently sold ₱4.7m worth of stock On the 24th of September, Ricardo Po sold around 160k shares on-market at roughly ₱29.40 per share. This was the largest sale by an insider in the last 3 months. This was Ricardo's only on-market trade for the last 12 months. Announcement • Sep 23
Century Pacific Food, Inc. Launches 'unMEAT' 100% Meat-Free Menu At 7-Eleven Century Pacific Food, Inc. launches the `unMEAT' 100% meat-free menu at 7-Eleven. 7-Eleven is the first convenience store chain in the country with 100% meat-free menu offerings. The `unMEAT' brand is CNPF's entry into the nascent yet fast-growing plant-based food alternatives market to address the burgeoning consumer demand for healthier, better-for-you, and better-for-the-planet products. 7-Eleven is the large convenience store chain in the Philippines with over three thousand outlets nationwide. It is the first convenience store chain in the Philippines to launch a 100% meat-free menu, which consists of the unMEAT Burger and Burger Steak Rice Meal, all made with 100% plant-based patties that look, taste, and feel like real meat. 7-Eleven's initial roll out of `unMEAT' covers key cities in Metro Manila, Batangas, and Pampanga. The menu is available in over 1,900 outlets. Prices start at PHP 89. Reported Earnings • Aug 05
Second quarter 2021 earnings released: EPS ₱0.40 (vs ₱0.34 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₱13.6b (up 4.7% from 2Q 2020). Net income: ₱1.43b (up 19% from 2Q 2020). Profit margin: 11% (up from 9.3% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year and the company’s share price has also increased by 17% per year. Price Target Changed • Jun 30
Price target increased to ₱26.63 Up from ₱24.19, the current price target is an average from 8 analysts. New target price is 14% above last closing price of ₱23.40. Stock is up 58% over the past year. Price Target Changed • May 26
Price target increased to ₱25.04 Up from ₱22.67, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of ₱23.90. Stock is up 58% over the past year. Price Target Changed • May 13
Price target increased to ₱24.19 Up from ₱22.10, the current price target is an average from 7 analysts. New target price is 7.5% above last closing price of ₱22.50. Stock is up 47% over the past year. Reported Earnings • May 06
First quarter 2021 earnings released: EPS ₱0.36 (vs ₱0.29 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₱13.4b (up 11% from 1Q 2020). Net income: ₱1.28b (up 24% from 1Q 2020). Profit margin: 9.6% (up from 8.6% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Apr 30
Insider recently sold ₱3.2m worth of stock On the 27th of April, Ronald Agoncillo sold around 165k shares on-market at roughly ₱19.64 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₱3.2m more than they bought in the last 12 months. Reported Earnings • Apr 20
Full year 2020 earnings released: EPS ₱1.10 (vs ₱0.89 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₱48.3b (up 19% from FY 2019). Net income: ₱3.88b (up 23% from FY 2019). Profit margin: 8.0% (up from 7.8% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 30
Upcoming dividend of ₱0.36 per share Eligible shareholders must have bought the stock before 06 April 2021. Payment date: 06 May 2021. Trailing yield: 2.1%. Lower than top quartile of Filipino dividend payers (4.3%). Lower than average of industry peers (2.5%). Announcement • Mar 25
Century Pacific Food, Inc. Declares Special Cash Dividend, Payable on May 6, 2021 The Board of Directors of Century Pacific Food, Inc. approved the declaration of special cash dividend of PHP 0.18 per share for a total of per share of PHP 0.36 to all stockholders of record as of April 12, 2021 payable on May 6, 2021. Announcement • Mar 19
Century Pacific Food, Inc. Elects Gina Lorenzana as Independent Director and Chairman of the Board Risk Oversight Committee The Board of Directors of Century Pacific Food, Inc., at its special meeting held March 18, 2021, elected Gina Lorenzana as Independent Director and as Chairman of the Board Risk Oversight Committee. Lorenzana replaces Eileen Grace Araneta who resigned effective March 15, 2021. Ms. Lorenzana is the immediate-past Global Vice President at Unilever's Global HomeCare Division, effective March 18, 2021. Announcement • Mar 15
Century Pacific Food, Inc. Announces Resignation of Eileen Grace Z. Araneta as Director Century Pacific Food, Inc. announced that Eileen Grace Z. Araneta has tendered her resignation as the Director of CNPF effective March 15, 2021. Executive Departure • Mar 15
Independent Director has left the company On the 15th of March, Eileen Zshornack-Araneta's tenure as Independent Director ended after 2.0 years in the role. As of December 2020, Eileen personally held only 100.00 shares (₱1.8k worth at the time). A total of 4 executives have left over the last 12 months. Announcement • Mar 02
Century Pacific Food, Inc., Annual General Meeting, Jun 30, 2021 Century Pacific Food, Inc., Annual General Meeting, Jun 30, 2021, at 08:30 Singapore Standard Time. Agenda: To consider Management's Report; to consider the ratification of Acts of the Board of Directors and Management During the Previous Year; to consider the election of Directors (including Independent Directors); to consider the appointment of External Auditor; and to consider other matters. Announcement • Feb 24
Century Pacific Food, Inc. Rolls Out Unmeat Plant-Based Products Century Pacific Food, Inc. moves further into the meat-free market rolling out its `unMEAT' brand of plant-based products to retail markets in the Philippines and abroad. The launch of the new plant-based range is in response to the expanding consumer preference for a healthier diet, partly
triggered by the pandemic when people aimed to eat healthy to boost their immune system. The unMEAT brand was first introduced in the Philippines through Shakey's Pizza's newest offering, the Goood Burger. Since then, it has earned positive reviews for its meat-like look, flavor, and texture. Following its successful initial rollout,
CNPF is now making unMEAT available directly to consumers. The brand is being launched in the Philippines and in international markets such as the USA, Singapore, China and the Middle East giving consumers in many parts of the world access to tasty, healthy, and affordable 100% plant-based meat alternative. CNPF also aims to take advantage of the rapidly expanding market by riding on its network of customers in
80 countries in both the branded and OEM space. The unMEAT product line consists of meat-free burger patties, Hungarian sausages, nuggets, and minced meat, more commonly known locally as `giniling'. All products are great sources of fiber and protein, and are free of cholesterol,
transfat, egg, and dairy. Also, amid the rise in commodity prices, unMEAT products are affordably priced from Php 120 to
PHP 135 (USD 2.5/pack), which is a small difference from the current cost of real meat. Executive Departure • Feb 03
CFO, Chief Information Officer & Chief Risk Officer has left the company On the 1st of February, Oscar Pobre's tenure as CFO, Chief Information Officer & Chief Risk Officer ended after 7.3 years in the role. As of September 2020, Oscar personally held 275.80k shares (₱4.7m worth at the time). A total of 3 executives have left over the last 12 months. Is New 90 Day High Low • Jan 05
New 90-day high: ₱18.14 The company is up 3.0% from its price of ₱17.60 on 08 October 2020. The Filipino market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₱7.04 per share. Announcement • Dec 02
Century Pacific Food, Inc. Announces Management Changes Century Pacific Food, Inc. announced that Mr. Emerson C. Villarante will retire as Vice President-Human Resources and Corporate Affairs of CNPF effective December 31, 2020. CNPF also announced the appointment of George Leander Qua Hiansen Wang III as Vice President of Human Resources and Corporate Affairs and the promotion of Richard S. Manapat as Vice President of Finance. Messrs Wang and Manapat will assume their respective roles effective January 1, 2021. Mr. Wang joins CNPF from 2Go Logistics where he was most recently the VP HR. Previous to this, Mr. Wang also headed up the Organization Effectiveness for Philip Morris as well as the Head of HR for Jollibee Philippines and Greenwich Pizza. Through his 25-year career, he has been a keen HR strategic partner with different business groups and a key builder of Organizations and People. Recent Insider Transactions • Nov 26
Insider recently bought ₱70k worth of stock On the 24th of November, Teddy Kho bought around 4k shares on-market at roughly ₱17.52 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Nov 16
Century Pacific Food, Inc. Launches Unmeat Brand Century Pacific Food, Inc. has made its biggest move yet into the meat-free market launching its `unMeat' brand - the first vegan meat alternative brand in the Philippines. `unMeat', currently sold to institutional customers only, serves as a healthy meat alternative made with non- GMO plant-based ingredients, with zero cholesterol and trans-fat, while remaining a good source of protein and fiber. At the same time, it maintains the taste of real meat - becoming a viable food option, not only for vegans and vegetarians, but for meat lovers as well. Currently, it serves as the patty of sister company Shakey's Pizza Asia Ventures' (PSE: PIZZA) "Goood Burger" available in all Shakey's outlets across the Philippines. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS ₱0.29 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₱11.7b (up 8.6% from 3Q 2019). Net income: ₱1.03b (up 15% from 3Q 2019). Profit margin: 8.8% (up from 8.4% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. 