Cosco Capital (COSCO) Q1 2025 earnings summary

Executive summary

• Consolidated revenues for Q1 2025 reached P56.71 billion, up 11.52% year-over-year, with net income at P3.68 billion, a 7.6% increase from Q1 2024.

• Grocery retail remained the largest contributor, accounting for 92.4% of revenues and 71.8% of net income.

• Growth was supported by new store openings, higher same-store sales, and efficiency measures across segments.

• Store network expanded to 757 locations nationwide, including new Puregold, S&R, Puremart, and DiviMart outlets.

Financial highlights

• Gross profit for Q1 2025 was P11.7 billion, up 11.14% year-over-year, maintaining a margin of 20.63%.

• EBITDA rose to P6.56 billion, an increase of 9.9% year-over-year.

• Earnings per share improved to P0.3180 from P0.2911.

• Liquor distribution revenues grew 27.5% to P4.06 billion, with net profit up 14.3%.

• Operating income rose 8.81% to P4.97 billion, while operating expenses increased 14% to P7.66 billion.

Outlook and guidance

• Continued expansion in grocery retail and S&R warehouse network planned.

• Management expects strong liquidity and ability to fund expansion and strategic investments from internal cash flows and untapped credit facilities.

• Real estate segment targets new mall openings and high occupancy rates.

• No material events or uncertainties are expected to impact future operations or liquidity.