DMCI Holdings Inc., an investment holding company, reported a 21 percent drop in 2024 net income to P19.0 billion, hurt by weaker commodity and electricity prices, lower construction accomplishments, and a sluggish real estate market.
However, record-high contributions from DMCI Holdings’ water utility and off-grid power segments, along with all-time high coal shipments and power generation, helped mitigate the overall downturn in its earnings.
Excluding non-recurring items, the company’s core net income stood at P18.8 billion, reflecting a similar 21 percent decrease compared to P23.9 billion in 2023.
“While some of our key businesses continue to face headwinds, our diversified portfolio helped mitigate the impact of challenging market conditions. 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,” said Isidro A. Consunji, chairman and president of DMCI Holdings.
In the fourth quarter of 2024, net income fell 14 percent year-on-year to P3.8 billion, primarily due to weaker performance from the energy, real estate, and construction sectors. However, stronger contributions from the water utility and nickel mining segments partially offset the decline.
Notable segment contributions included Semirara Mining and Power Corporation, which saw a 30 percent drop to P2.1 billion, largely due to weaker coal earnings. Maynilad Water Services saw its contribution more than double to P991 million, driven by higher billed volumes and tariffs. Real estate and construction also faced pressures, with DMCI Homes’ contribution dropping 34 percent to P278 million.
Looking ahead, DMCI aims to build on its diversified model, adapting to market dynamics in 2025.
