Filinvest plans P24-B capex for 2025
Filinvest Development Corp. (FDC) will earmark P24 billion in capital expenditures this year to expand its businesses as the conglomerate expects to shatter its earnings record again.
FDC chief financial officer Ven Guce told reporters last week that this was a 20-percent increase from their P20-billion spending in 2024.
Of the total, 47 percent, or P11.28 billion, will go to the expansion of FDC’s real estate portfolio under Filinvest Land Inc. (FLI) and Filinvest Alabang, and 40 percent, or P9.6 billion, will be spent on its other segments, including hotel, renewables and the power business.
The remaining amount, or P3.12 billion, will be set aside for FDC’s digitalization efforts and “investments into the shared services organization, which is really going to drive the operational efficiencies group-wide,” Guce said.
Last year, the Gotianun-led company reported a 36-percent surge in its net income to an all-time high of P12.1 billion, buoyed by gains across its businesses.
FDC’s total revenues and other income likewise breached the P100-billion mark for the first time, jumping by 22 percent to P113.4 billion.
“We’ve experienced quite a broad-based portfolio growth,” Guce said during a media briefing.
The Filinvest Group used to be a real estate-focused company before eventually venturing into banking (EastWest Bank), power (FDC Utilities Inc.) and hospitality (Filinvest Hospitality Corp.).
Banking and financial services contributed 39 percent to the group’s bottom line. This was followed by power at 29 percent, property and hospitality at 27 percent, and other businesses at 5 percent.
FDC is expecting to maintain an average net income growth rate of 20 percent in the next four to five years on projections that the Philippine economy will continue to improve.
“Given the age and the demographics of the current environment, we will look at the consumption-led growth for the country,” FDC president and CEO Rhoda Huang said, adding that they were looking at booking record earnings again in 2025.
Huang also said that their real estate portfolio was shielded from the sector’s weakness in Metro Manila, as FLI saw strong demand nationwide.
