DMCI Q1 earnings slid 2% to P4.9B
DMCI Holdings Inc. saw its consolidated net income slide slightly in the first quarter as weaker contributions from its utilities businesses offset gains from its property, mining and power units.
In a disclosure on Friday, the Consunji-led conglomerate said consolidated net income reached P4.9 billion in the January-to-March period. This meant a 2-percent decrease from P5 billion in the year-ago quarter.
Despite the softer earnings, the company declared regular cash dividends amounting to about P4 billion or P0.30 per share.
“Our diversified portfolio continued to provide stability despite uneven market conditions,” DMCI Holdings chair and president Isidro Consunji said.
“While some businesses are facing near-term pressures, we continue to see encouraging performance from our business units,” he added.
Semirara Mining and Power Corp. remained the group’s largest earnings contributor, generating P2.2 billion during the quarter.
However, this was 13-percent lower than the P2.5 billion recorded a year earlier due to weaker plant performance and lower coal shipments.
Property arm DMCI Homes posted a 3-percent rise in earnings, contributing P1.3 billion from P1.2 billion previously. This was thanks to stronger residential revenues, lower cancellations and higher rental income.
Meanwhile, Maynilad Water Services Inc. contributed P714 million, down 23 percent from P926 million last year.
Maynilad’s reduced effective ownership following the water utility’s initial public offering tempered improved operating performance.
Nickel producer DMCI Mining raised its contribution by 8 percent to P440 million. This was driven by higher shipment volumes after the Long Point mine started commercial operations in March. The opening of Long Point increased the company’s active mines to three.
Off-grid energy unit DMCI Power also delivered stronger results, with its earnings contribution climbing 12 percent of the total to P302 million. This was due to higher energy sales and capacity expansions in Palawan, Antique and Masbate.
Construction subsidiary DMCI posted P47 million in earnings contribution. This was down 6 percent from a year ago amid project delays and fewer ongoing projects.
Meanwhile, Concreat Holdings Philippines significantly narrowed its net loss by 63 percent to P203 million from P546 million previously. It benefited from higher sales volumes and improved operating efficiencies after completing its first full year under DMCI management.
The holding firm said the declared dividends represented 27 percent of its 2025 core net income of P14.9 billion. This was consistent with its policy of distributing at least 25 percent of prior year core earnings.
Shareholders on record as of May 21 will be entitled to receive the dividends, which will be paid on June 5.
