Despite these challenges, record-high contributions from water utilities and off-grid power, along with peak coal shipments and power generation, helped soften the decline.
Core net income, which strips out nonrecurring items, also fell 21 percent to P18.8 billion, but the company’s diverse portfolio provided some stability.
Management’s view
“While some of our key businesses continue to face headwinds, our diversified portfolio helped mitigate the impact of challenging market conditions,” said DMCI Holdings chair and president Isidro A. Consunji.
“In 2025, we remain focused on strengthening our group ecosystem with the addition of the cement segment, enhancing operational efficiencies and deploying targeted sales approaches to adapt to evolving market dynamics," he added.
How different segments performed
• Energy: Semirara Mining and Power Corp.’s net income contribution dropped 30 percent to P2.1 billion, as coal earnings weakened, though power remained stable.
• Water Utility: Maynilad Water Services delivered a 140 percent surge in contributions to P991 million, helped by higher billed volume and rate adjustments.
• Real Estate: DMCI Homes’ net income declined 34 percent to P278 million, as weak sales and higher costs offset joint venture and rental revenues.
• Construction: D.M. Consunji, Inc. swung to a P220 million net loss, from a P114 million profit last year, due to project delays.
• Mining: DMCI Mining’s net income more than tripled to P263 million, benefiting from stronger selling prices and better nickel grades.
