Cosco Capital (COSCO) Q3 2025 earnings summary

Executive summary

• Consolidated revenue for the nine months ended September 30, 2025, reached P182.88 billion, up 11.47% year-over-year, driven by strong performance in grocery retail and liquor distribution.

• Net income for the period was P10.70 billion, a 6.57% increase from P10.04 billion in 2024, with net income attributable to equity holders at P6.39 billion, up 6.90%.

• All major business segments contributed to growth, with grocery retail and liquor distribution leading, while commercial real estate saw modest gains and energy/minerals posted mixed results.

Financial highlights

• Gross profit rose to P36.03 billion (19.7% margin), up from P31.94 billion (19.5%) year-over-year.

• Operating income increased to P14.62 billion, up 8.58% from the prior year.

• EBITDA to interest expense ratio was 30.47:1, slightly down from 32.80:1 in 2024.

• Basic/diluted EPS for equity holders was P0.9394, up from P0.8728.

Outlook and guidance

• Management expects continued strong consumer demand in retail and liquor segments, with seasonal peaks anticipated in Q4.

• No material events or uncertainties are expected to impact liquidity or operations in the near term.