26 April 2023 – Concepcion Industrial Corporation (CIC), the country’s leading provider of consumer lifestyle and building & industrial solutions, delivered strong growth in operating income, with its consolidated net income increasing by 204% to P93.2 million from the P30.6 million recorded in the same quarter a year ago despite a slow sales start for the quarter.
Reported net sales was at P2.9 billion, a 7% decline from the same period in 2022 as a result of the late onset of summer, phasing in of new models and the impact of inflationary pressures, slowed down market demand.
The Consumer segment generated net sales of P2.1 billion during the quarter, 8% lower against last year. This is primarily attributed to the lower retail demand in February and most of March, phasing in of new products and delayed orders resulting from the late onset of summer leading to end of the quarter sales
that could not be fulfilled.
The Consumer segment generated net sales of P2.1 billion during the quarter, 8% lower against last year. This is primarily attributed to the lower retail demand in February and most of March, phasing in of new products and delayed orders resulting from the late onset of summer leading to end of the quarter sales
that could not be fulfilled.
The Commercial business’ first quarter net sales declined by 2% to P0.8 billion. While Commercial HVAC (heating, ventilating and air conditioning) segment grew 26% for the quarter, the elevator and escalator new equipment segment was down 65% due to the completion of a large project last year.
Cost of sales and services decreased by 10% to P1.9 billion with lower logistic costs, cost negotiations, better factory absorption, and favorable foreign exchange.
CIC Chairman & CEO, Raul Joseph A. Concepcion, said, “We expect sales performance to improve for the rest of the year with new product introductions, as well as distribution expansion activities. We will continue to pursue cost efficiency measures in order to sustain profitable growth.”
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Concepcion Industrial Corporation
Concepcion Industrial Corporation received recognition from the Institute of Corporate Directors (ICD) at the ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Awards Night on January 20, 2023. The award recognizes the country’s top publicly listed companies that have “exhibited observable conformance with the Philippine Code of Corporate Governance and internationally recommended corporate governance practices as espoused by the ACGS.”
CIC’s corporate governance framework is rooted in the strict adherence to the highest ethical standards at all levels of the business and in ensuring transparency and accountability through timely disclosure of information such as annual reports and minutes of shareholders’ meetings, among others.
“CIC believes that public trust is key to long-term sustainability. With that in mind, our responsibility to protect the interest of our shareholders and investors is a commitment that drives us to consistently strengthen our corporate governance practices. We will continue to uphold the highest business standards so we can provide our shareholders, business partners and customers with products and services they can trust.” said Rafael C. Hechanova, Jr., EVP and Chief Communications Officer
This recognition affirms CIC’s withstanding commitment to the principles of good corporate governance. CIC is one with ICD in its advocacy to raise the overall standards of ASEAN publicly-listed companies to promote the ASEAN region as a wise investment destination.
(As published on BizNews Asia; September Issue)
Concepcion Industrial Corporation (CIC) has always been about building better lives. From its product solutions to lifestyle and service solutions, and to its engagement with its internal and external community, CIC has been a company that is centered in serving the Filipino people.
This time of the pandemic has brought on many difficulties and disruptions for every Filipino. No one was spared by COVID-19 as healthcare systems worked day in and out to stay operational for those afflicted, businesses struggled to continue providing goods, services and jobs, and individuals fought every day to survive for themselves and their loved ones.
A company aware of its responsibility toward its community, CIC activated its passion for innovation and commitment to the Filipino people. The organization recognized the critical role it plays in providing help that our nation needs and thus have accepted the responsibility and capability to give the needed support in our fight against COVID-19.
In early 2020, CIC’s commercial division, Alstra, launched the Carrier OptiClean in the Philippines. A product originally designed and manufactured by Carrier USA, the product is a negative-air machine that purifies airspaces and ensures cool and clean environments within enclosed areas such as hospitals and healthcare facilities.
The Carrier OptiClean can be used in two modes: Air Scribber, which filters air to remove possibly toxic particles and discharges cleaner air back into the room, and Negative Air Machine, which helps convert normal hospital rooms into negative-pressure airborne infections isolation rooms.
Additionally, in April 2021, Condura launched the Vax Safe, a medical refrigerator/freezer that has been developed as early as March 2020. It can store and preserve a range of COVID-19 vaccines at their required temperature and in optimal conditions. Affordable and accessible to authorities and institutions implementing vaccination programs, this new product will help in the efficient distribution of vaccines across the country, which may then pave way for the vaccination of the Filipino population.
A Filipino brand at the forefront of Filipino innovation, Condura has consistently created products that meet the unique challenges of the Philippines and its people. As the leading manufacturer of refrigerators and freezers in the country, Condura has designed and built this new product to ensure the vaccines reach even the far flung areas in our country, as a testament to our pledge to provide for the Filipino community, especially in times of crises and uncertainties.
According to Mr. Raul Joseph Concepcion, Chairman and CEO of the Concepcion Industrial Corporation, “The company mobilized its capabilities and expertise in R&D (research and development), testing facilities, manufacturing, after-sales support and nationwide distribution network.” This indeed follows the company’s agility and resilience. CIC continues to realize its vision of a happier tomorrow by going above and beyond.
(As published on https://www.bworldonline.com/concepcion-industrials-condura-creates-vaccine-refrigerator-vax-safe; April 16, 2021)
CONCEPCION Durables, Inc. (Condura), a wholly owned subsidiary of Concepcion Industrial Corp., designed and created a medical refrigerator/freezer for vaccines called Condura Vax Safe.
In a disclosure to the exchange on Thursday, Concepcion Industrial said the new product can store coronavirus disease 2019 (COVID-19) vaccines at “required temperature and in optimal conditions.”
Vax Safe will feature a fixed temperature lock, alert indicators, and an externally readable temperature data logger. The product is said to be 8 cubic feet in gross capacity, and will be able to store about 1,000 to 2,000 vaccine doses at a time.
“In the Condura Vax Safe development process, we consulted the Department of Health National Center for Disease Prevention and Control to comply with the stringent vaccine storage requirements,” Harold Thomas Pernikar, Jr., division president of consumer lifestyle solutions at Condura, told BusinessWorld via e-mail.
Vax Safe is manufactured at the Condura plant in Cabuyao, Laguna. Condura produces various air conditioners and refrigerator products.
Concepcion Industrial said it invested nearly P10 million on the research and development of Vax Safe, focusing on the following: speed to market, reliability, and affordability.
“The company mobilized its capabilities and expertise in R&D (research and development), testing facilities, manufacturing, after-sales support and nationwide distribution network,” Concepcion Industrial Chairman and Chief Executive Officer Raul Joseph A. Concepcion said via e-mail.
For Vax Safe, Concepcion Industrial said it is using “similar components” to what the company is currently using “to expedite the process and launch the product the soonest time possible.”
Condura Vax Safe will be sold for around P50,000 at retail, which the company said is “50% more affordable compared to similar bio-refs sourced from other countries.”
“We’re currently in talks with various groups such as medical distributors, hospitals, private companies and LGUs (local government units),” Mr. Concepcion said.
“We’re receiving more inquiries and reservation requests as of this writing,” he added.
Concepcion Industrial shares at the stock exchange improved by 2.33% or P0.50 on Thursday to close at P22 apiece. — Keren Concepcion G. Valmonte
Air conditioning and refrigeration firm Concepcion Industrial Corporation (CIC) has tapped Oracle Fusion Cloud Applications to consolidate its business operations.“The recent lockdowns demonstrated that we needed to urgently upgrade and unify our front and back office processes. Our traditional business model depended on our distribution partners, but more than 50% of them were not allowed to operate as a result of the pandemic,” CIC chairman and CEO Joseph Concepcion said in a virtual briefing.“With more consumers purchasing online, we knew a change in the way we operate was imminent. We selected Oracle Cloud Applications to provide us with one single platform that could unify across our front and back office operations and provide real-time insights,” he added.Established in 1962 with the exclusive license to distribute the Carrier air conditioning brand in the Philippines, CIC will consolidate its sales, service and commerce on Oracle Cloud Applications to adopt a “new service-oriented, direct-to-consumer business models” that will create new revenue streams and enhance the customer experience.“This includes feedback from consumer interactions, both online and via field service. Oracle gives us new possibilities to redesign our business operations,” Concepcion said.
Concepcion said the company also recognized the need to consolidate the online ordering process for customers and partners of its multiple brands.
In particular, Oracle Cloud Customer Experience (CX) will help drive more predictive service models and empower field service operators with real-time intelligence, enhancing customer data management capabilities to provide a better view of the customer.
Meanwhile, Oracle Fusion Cloud Supply Chain Management (SCM) will improve order fulfillment for the company’s e-commerce business, enabling a direct-to-consumer service.
Likewise, under Oracle Fusion Cloud Enterprise Resource Planning (ERP), CIC will have greater business visibility to improve decision-making, reduce costs and increase productivity.
“Changing customer demands are driving companies to reconsider traditional business models and how they serve their customers,” said Oracle Cloud CX in ASEAN head Siva Ganeshanandan. — BM, GMA NewsAs published on GMA News Online, October 1, 2020, by Ted Cordero
Reference: https://www.gmanetwork.com/news/money/companies/758089/concepcion-industrial-taps-oracle-for-consolidation-of-business-operations/story/
Concepcion Industrial Corporation (CIC), one of the country’s most trusted and leading providers of air conditioners and home appliances will soon introduce an innovative product line designed to make one’s home smarter and easier to manage through its technology innovation division, Cortex Technologies Corporation (Cortex).
As one of the country’s leading digital innovators, Cortex will soon be launching CNX for Home which offers everything you will need for a smart home. CNX for Home allows consumers to be safer, more productive and keep their home efficient, particularly as more families stay in their homes due to the current situation.
Helping Filipino households to adapt to the new normal, CNX for Home paves the way for smarter living by allowing consumers to control all their smart devices and appliances by way of one single mobile app, as well as integrating your lifestyle and home services into the smart home experience.
CNX for Home not only offers a brand new and smarter home experience for consumers but also empowers them with savings in both time and energy, and the peace of mind that comes with an “always-connected” smart home.
From motion sensors to smart sockets, CNX for Home will also offer a curated range of affordable smart products to get consumers started on their journey to a smarter home, in categories such as home security, safety, health and lifestyle. Everything in the CNX for Home ecosystem is tested to make sure they suit the Filipino home environment, and is backed up by Cortex’s reputable, expert local support.
Worried about security? You can now create your own Smart Home Security Network with easy to install door, window and motion sensors that will immediately notify the homeowner whenever someone or something is moving around the house, as well as, triggering sirens and strobe lights.
Used together with a Smart IP camera, you can monitor your household real-time. The camera uses a 1080HD camera and can record video whenever motion is detected. It also supports night vision, and two-way audio. This simple combination allows you to keep an eye on loved ones, whether it’s your children or perhaps older parents, which is critical at a time of lockdowns and restricted travel.
What about fire? The Smart Smoke Sensor will sound the alarm if it detects smoke in the house and will provide alerts via the phone app in real time. It has a low-power consumption feature and is very easy to install.
Not all appliances are created “smart” so with the Smart Plug, you can remotely control other appliances such as lamps via your smartphone, and with CNX for Home, you can use Google Home and Alexa to activate voice control.
What makes CNX for Home stand out from the crowd, besides having everything you need for a smarter home in one single app, is its unique and powerful SMSConnex feature, which allows you to add other contacts that can be notified by SMS whenever a smart device is triggered. This means you can alert family, friends or your local emergency services without them needing access to your CNX For Home account.
The promise of a safe, secure, and convenient home is coming very soon. Backed by a reputable and known brand of Concepcion Industrial Corporation, for Filipinos by Filipinos. To know more about how to start your journey to a smarter home you can visit www.facebook.com/cnx.ph or check out their Instagram @cnxforhome.
(As published on https://www.abs-cbn.com/newsroom/news-releases/2020/5/29/abs-cbn-wecare-pantawid-pagibig-ppes-frontliner?lang=en; May 29, 2020)
As the fight against COVID-19 persists in the country, so is the need for a continuous supply of personal protective equipment (PPEs) for the healthcare workers risking their lives in the frontline.ABS-CBN and ABS-CBN Foundation remain on a mission to help fulfill this need, and has found a new partner in finding and providing the much-needed support that our medical frontliners need during this pandemic.
The network and the foundation have joined forces with WeCARE (We Connect, Act and Respond to Emergencies), a free-to-use community-based emergency response platform that connects individuals or groups willing to support communities requiring assistance during a crisis.
Developed by Cortex Technologies Inc. (Cortex), a subsidiary of Concepcion Industrial Corporation (CIC), WeCARE will work with ABS-CBN and the ABS-CBN Foundation to provide a quicker and more efficient response to hospitals and other COVID-19 support facilities in need of PPEs. These institutions only need to register on www.wecare.ph and declare the assistance they need.
This effort is part of ABS-CBN and ABS-CBN Foundation’s “Pantawid ng Pag-ibig” umbrella campaign to help Filipinos during this COVID-19 crisis. The multi-sectoral initiative, which is entering its second phase, has already helped an estimated 780,000 families by delivering food items and basic necessities to local government units for distribution to families affected by the community quarantine. It has also delivered 172,000 surgical masks, 56,374 N95 masks, 2,000 cloth masks, 31,500 gloves, 19,600 hygiene kits, 15,277 goggles, 3,500 face shields, 2,400 alchohol, 1,000 body suits, 1,000 head caps, 1,000 shoe covers, as well as food, drinks, and flowers to 84 hospitals and two frontline organizations as of May 27.
Currently, there are around 150 hospitals from all over the country registered on www.wecare.ph in need of around 519,000 items of medical supplies and gears. Through the cash and in-kind donations of donors and partners from all over the world, ABS-CBN and ABS-CBN Foundation hope to contribute in purchasing and delivering the needed PPEs for the institutions in WeCARE.
ABS-CBN Integrated Public Service head Jun Dungo explained the importance of PPEs in this global health crisis. “The COVID-19 virus is a very vicious virus. It is highly contagious and transmissible between humans. Our frontliners, especially our healthcare workers are highly vulnerable to contract the virus and also to transmit it. We need to protect them and the patients they are taking care of,” he said.
ABS-CBN Foundation managing director Susan Afan added, “While our frontliners are out there caring for our sick, the PPEs should really be least of their concerns. It is important that we come together to help them during this public health emergency.”
“In emergency situations like the COVID-19 pandemic, it is important to understand the real situation and the specific requirements of those in need. With WeCARE, we can extend the appropriate help to the right people, to where and when it’s needed,” said CIC Chairman & CEO Raul Joseph Concepcion.
Together with WeCARE, ABS-CBN and ABS-CBN Foundation aim to boost their PPE drive further, especially as many parts of the nation remain under community quarantine with new COVID-19 cases still being recorded every day. According to the Department of Health (DOH), there are already 15,049 cases of COVID-19 in the Philippines as of May 27, 16 percent (2,452) of which are healthcare workers. So far, 1,228 of them have already recovered, while 31 have died.
To know more about WeCARE, visit www.wecare.ph. To help, you may donate via ABS-CBN LingkodKapamilya Foundation Inc. bank accounts:
BPI Account Number: 4221-0000-27 with Swift Code: BOPIPHMM
BDO Account Number: 0039300-78214 with Swift Code: BNORPHMM
The COVID-19 pandemic has been causing uncertainty and anxiety among us, Filipinos. With the exponential spread of the virus and the growing number of cases each day, we are all undoubtedly faced with even greater distress.
In our country, the shortage of medical gear and other supplies to protect our frontline – the doctors, nurses and health staff directly exposed to the virus, is just one of the many critical concerns we want addressed immediately. Many individuals would like to help, but there’s no means of properly reaching out to know the specific needs of those who urgently need support. As a result, resources are not equally distributed and worse, resources are immensely wasted due to unmatched allocation and actual needs.
In response to these challenges, Cortex Technologies Inc.(Cortex), a subsidiary of Concepcion Industrial Corporation (CIC), developed a nonprofit emergency response platform, WeCARE (We Connect, Act and Respond to Emergencies) as part of their joint corporate social responsibility initiative.
True to the spirit of “bayanihan”, CIC felt the need to utilize available resources to quickly buil a centralized community platform that gathers the urgent demands of our country’s health services and emergency support organizations, while also bringing together individuals or groups who are able and willing to help by donating what’s needed to where it’s needed.
WeCARE (We Connect, Act and Respond to Emergencies) as part of their joint corporate social responsibility initiative.
In emergency situations like this, it is important to understand the real situation and the specific needs of the organizations or individuals asking for help. This way, we can extend the appropriate help to the right people, considering their actual needs. These days, we cannot afford to waste time, all the more waste resources that could have been given to those most in need.
JOJO CONCEPCION
The very essence of WeCARE is to ensure that emergency response such as volunteers, food, equipment and other supplies are easily accessed and deployed on time to where they are needed. WeCARE was initially launched yesterday, March 24, giving medical institutions and emergency service organizations the opportunity to register their needs before the platform is officially introduced to a broader audience.
WeCARE is now open for registration and ready to secure pledges. To know more about WeCARE and to learn how it works, please visit www.wecare.ph.
MANILA, Philippines, Nov. 28, 2018 – Cortex Technologies Corporation, a wholly owned subsidiary of Concepcion Industrial Corporation focused on technology research and development, today announced the majority acquisition of Teko Solutions Asia Inc., a technology startup formed in 2017 to apply web, mobile and cloud technology to the appliance service and repair business in the Philippines.
