Concepcion Industrial Corp. (CIC), a leading manufacturer of air conditioners and refrigerators, reported growth exceeding the industry, highlighting the strong demand, strategic investments, and the push to diversify beyond weather-dependent consumer segments.
CEO Isias Ariel P. Fermin said the air-conditioning market grew nearly 19 percent in 2024, but CIC’s segment surged by 28 percent, underscoring its operational momentum. “Last year… the AC market grew by close to 19 percent… and we grew more than that,” Fermin said. He emphasized that while this year’s second quarter may not mirror last year’s heatwave-driven spike, year-on-year performance will still show improvement.
CIC is boosting its manufacturing operations in Laguna, a move chairman Raul Joseph A. Concepcion says is central to sustaining growth. “We continue to make the investments over time to expand our manufacturing facilities,” he said, citing evolving consumer behavior and persistent demand in traditional markets.
To further stabilize revenue across seasons, CIC is aggressively pivoting toward business-to-business (B2B) and non-refrigerant lines. This shift aims to reduce reliance on cyclical household appliance sales tied to climate variability. “We want to deseasonalize the business,” Concepcion said, citing growth opportunities in sectors like hospitality, wellness, and retail infrastructure.
Fermin added that refrigeration units—especially light commercial and beverage chillers—remain in high demand due to a rise in small-scale business activity.
CIC’s focus on efficiency, diversified product offerings, and long-term capacity expansion underscores its strategy to deliver bottom-line growth faster than revenue growth—positioning the company to outperform in a competitive and seasonally sensitive market.
