Highlights:
In a statement issued March 27, 2025, the Gokongwei-led conglomerate said its consolidated revenues grew 11 percent year-on-year to P379.7 billion, supported by strong performance across travel, food, and real estate, as well as the brief resumption of operations of its petrochemical plant.
A P7.9-billion merger gain from the BPI transaction helped offset headwinds in certain business units.
“We have successfully navigated 2024 with mixed results coming from our different units and investments,” president and CEO Lance Gokongwei said. “Coming into 2025, our key priority will be to accelerate the overall topline growth of our business units given the expected rebound in consumer sentiment as inflation eases.”
Despite challenges in the petrochemicals segment and higher costs from airline fleet investments, net income including non-core items rose 10 percent to P22 billion.
The group maintained a healthy financial position, with debt-to-equity and net gearing ratios at 0.67 and 0.54, respectively. Parent company dividends rose 10 percent to P17.3 billion in 2024.
Gokongwei highlighted several initiatives that are expected to gain traction in 2025: Value-for-money products at Universal Robina Corp. (URC), new aircraft at Cebu Pacific, and completed projects at Robinsons Land Corp. (RLC). He also cited momentum in the group’s ecosystem plays, including digital banking arm GoTyme and logistics venture DHL Summit Solutions.
Meanwhile, JG Summit Olefins Corp. (JGSOC), the group’s petrochemical unit, posted wider losses due to persistent margin pressures. Its plants remain under commercial shutdown since January 2025.
A P17.1-billion capital infusion into JGSOC was made in late 2024 to meet debt obligations and support operations.
