Housing sales lift CPG earnings

Century Properties Group Inc. (CPG) posted a 16 percent increase in net income to P473 million in the first quarter of 2025, up from P410 million a year ago, driven by strong residential sales and improved operational efficiency.

In a stock exchange disclosure on Wednesday, the listed developer said consolidated revenues grew 4 percent to P3.724 billion from P3.579 billion.

The First-Home Residential Developments (PHirst) segment led revenue contributions at P2.237 billion or 60 percent, followed by Premium Residential Developments at P1.175 billion or 32 percent.

Commercial Leasing and Property Management contributed P181 million (5 percent) and P130 million (3 percent), respectively.

“Our first quarter performance reflects the successful completion of key residential projects, strong sales take-up across our developments, and continued gains in operational efficiency.

We also benefited from improved financial discipline and debt management, allowing us to reduce interest expenses and enhance profitability,” CPG President and CEO Marco R. Antonio said.

EBITDA rose 14 percent to P988 million from P865 million, supported by a 46 percent gross profit margin, strong PHirst contributions, and lower borrowing costs.

As of the end of March, CPG’s total assets stood at P57.736 billion, up P1.886 billion year-on-year. Liabilities totaled P35.233 billion, while stockholders’ equity reached P22.503 billion.

CPG launched several projects in the first quarter, including a mid-rise development at Azure North in San Fernando, Pampanga. Its second phase will include a waterpark, four additional mid-rise buildings, and 49 town villas. The first tower, Mykonos, was launched in February and is slated for completion by 2027.

The company also unveiled Century PHirst Centrale Batulao in March, a 142-hectare mixed-use estate in Batangas designed around the “15-minute city” concept.