From January to September, net income fell to P15.1 billion from P19.6 billion, driven by weaker results in energy, real estate, and nickel operations.
What happened?
However, gains from the water utility, off-grid power, and construction segments helped offset some of the decline.
Despite the drop, the nine-month income is still 62 percent above pre-pandemic levels and 12 percent higher than pre-energy crisis figures from 2021.
In the third quarter, DMCI saw a 3-percent net income increase to P4 billion, thanks to strong results in water, power, construction, and nickel businesses, mitigating weaker coal and real estate performance.
Management’s view
"Each of our businesses has been affected differently by the new normal in an increasingly complex environment,” DMCI chair and president Isidro A. Consunji said in a statement.
“We are working hard to strengthen our group's ecosystem, enhance operational efficiency to address macroeconomic challenges and weaker commodity prices, and effectively protect our margins," he added.
Business segments
In the third quarter, Semirara Mining and Power Corp.’s net income contribution fell 5 percent to P1.8 billion, affected by lower coal prices despite stronger power generation and coal shipments.
Maynilad Water Services’ income surged 55 percent to P921 million, driven by higher billed volume and tariffs. DMCI Homes’ contribution dropped 36 percent to P768 million due to lower real estate revenues but was partially cushioned by joint venture gains and rental income.
DMCI Power’s income rose 23 percent to P328 million, benefiting from higher energy sales and prices.
D.M. Consunji Inc. posted a 174-percent jump to P129 million, aided by cost reductions and higher finance income. DMCI Mining recovered to a P48-million contribution from a P154-million loss, boosted by stronger shipments and higher nickel grades.
