Century Peak Holdings Corp., controlled by businessman Willy Keng, plunged to a ₱269.8 million net loss in the first half of 2026 after its mining business generated zero sales and its remaining revenue source—the cement business—struggled to cover costs.
The latest financial results paint a worsening picture for the listed company, with consolidated revenue collapsing by more than half while losses accelerated sharply.
Century Peak reported ₱599.36 million in gross revenue for the six months ended June 30, 2026, down 50.6% from ₱1.214 billion in the same period last year. The company swung from a ₱13.65 million profit in the first half of 2025 to a ₱269.81 million loss this year.
Mining Sales Vanish
The biggest problem: one of Century Peak’s key business segments failed to generate revenue during the first half.
According to the company’s financial disclosures, only the cement business generated sales during the period, while the mining segment recorded no revenue.
Century Peak’s mining operations include nickel projects in the Philippines, including projects in Dinagat Islands. While exploration activities continued at the Casiguran Nickel Project, commercial sales remained absent from the first-half revenue picture.
The company said drilling continued at Casiguran, with 82 out of 178 proposed drill holes completed as of June 30, covering approximately 1,230 meters. Results are expected to contribute to an updated mineral resource estimate.
Its Rapid City Project, meanwhile, had no exploration activity during the second quarter.
Cement Was the Only Revenue Source—But It Was Still Losing Money
The more troubling development for Century Peak is that even its sole revenue generator struggled to make money.
The cement business accounted for nearly all of the group’s first-half sales, but costs overtook revenue.
Century Peak generated approximately ₱599 million in first-half revenue, while gross expenses reached ₱839.19 million, according to its official quarterly report.
In the second quarter alone, revenue dropped to ₱344.08 million from ₱611.17 million a year earlier, a decline of nearly 44%.
Yet the company’s expenses did not fall at the same pace.
Century Peak posted a ₱155.09 million net loss in the second quarter, compared with a ₱70.04 million profit in the same period last year.
The result highlights the growing pressure on the company’s operating model: revenue is shrinking faster than costs.
Losses Pile Up, Deficit Widens
Century Peak’s financial position also weakened during the first half.
Its retained deficit widened to ₱922.46 million as of June 30, 2026, from ₱654.32 million at the end of 2025.
Total stockholders’ equity declined to ₱1.86 billion from ₱2.13 billion, while total liabilities increased to ₱8.11 billion from ₱7.94 billion over the same period.
The company’s current liabilities also stood substantially above current assets, underscoring the importance of continued funding support.
Shareholder Funding Keeps Century Peak Moving
Century Peak has increasingly relied on shareholder and related-party funding as losses mount and operations remain under pressure.
Amounts due to a related party climbed to around ₱1.18 billion, from approximately ₱171.1 million at the end of 2025, while the company’s cash flow disclosures showed more than ₱1 billion in advances from stockholders during the first half.
The company said its majority shareholder had committed to continue providing working capital to support the group’s operations.
Century Peak also carried around ₱5 billion in deposits for future stock subscriptions, representing a significant portion of its total liabilities.
From Profit to Mounting Losses
The latest quarter extends Century Peak’s deteriorating earnings trend.
In the first quarter of 2026, the company already posted a ₱114.72 million net loss, more than double the ₱55.25 million loss recorded a year earlier.
By the second quarter, the situation had worsened: Century Peak shifted from a ₱70 million quarterly profit in 2025 to a ₱155 million loss in 2026.
The official PSE filing shows the company’s year-to-date net loss reached ₱269.81 million, a deterioration of more than ₱283 million compared with the first half of last year.
What Happens Next?
Century Peak now faces a difficult balancing act.
Its mining operations need to move beyond exploration and restore revenue generation, while its cement business must improve margins after becoming the group’s only meaningful source of sales.
For now, the numbers tell a stark story: revenue has been cut nearly in half, mining sales have disappeared, the cement business remains under pressure, and shareholder funding has become increasingly important to sustaining operations.
The next big question for investors is whether Century Peak can turn its exploration assets into productive businesses and reverse the losses—or whether the financial pressure will continue to deepen in the months ahead.
WWC ONE MEDIA J.M.S
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