The group reported a 9-percent drop in first-quarter profit to P5.1 billion, down from P5.6 billion a year earlier.
Management’s view
“Market conditions today are very different from five years ago, but our businesses have adapted well,” said DMCI Holdings chair and CEO Isidro A. Consunji.
The main drag on DMCI’s earnings came from Semirara Mining and Power Corp., whose profit fell 31 percent due to weaker coal prices and a higher share of lower-grade shipments, partly cushioned by stronger power generation.
Consunji said Semirara will continue to outperform and weigh on growth, but other business units can pick up the slack.
“Market conditions today are very different from five years ago, but our businesses have adapted well,” he said.
”We continue to pursue organic growth across the portfolio, while laying the groundwork for a successful transformation of our cement operations,” he added.
Property rebound, water gains
DMCI Homes nearly doubled its earnings contribution to P1.4 billion, lifted by better rental income, forfeiture gains, and newly booked housing sales.
Maynilad Water Services also delivered a strong quarter, with profits rising 39 percent to P926 million, thanks to improved tariffs and cost savings, even as water usage dipped slightly.
Mining segment shines
DMCI Mining staged a strong turnaround, swinging from a P22-million loss to P409 million in profit, driven by improved operations and stronger selling prices.
The rebound came after fully activating its second mine under Zambales Chromite Mining Company, doubling its active sites. This expansion helped boost output and stabilize margins.
Construction dips, power steady
DMCI Power inched up 2 percent to P270 million, helped by higher electricity sales and additional capacity in Palawan.
In contrast, D.M. Consunji Inc. saw profits fall to P50 million, weighed down by project delays, higher costs, and cautious revenue booking.
