Diversified engineering conglomerate DMCI Holdings reported a 27 percent drop in second-quarter net income to P4.0 billion from P5.5 billion a year ago, as weaker results from its coal, real estate, and construction units offset gains in other segments.
The decline was attributed to softer energy markets, higher construction costs, and the ongoing integration of its newly acquired cement business under Concreat Holdings.
From January to June, consolidated net income fell 18 percent to P9.1 billion, compared to P11.1 billion in the first half of 2024.
Semirara Mining and Power Corp., the group’s biggest contributor, posted a 32 percent earnings decline to P2.3 billion, due to lower energy selling prices despite record-high coal shipments.
DMCI Homes delivered P678 million, down 8 percent, amid higher costs.
Maynilad Water Services, an associate, grew its contribution by 33 percent to P973 million, supported by tariff increases and cost controls. DMCI Power’s income rose 5 percent to P374 million, aided by new power capacities in Palawan and Antique.
DMCI Mining reversed a loss, earning P344 million, driven by stronger prices and full operations at Zambales Chromite Mining Company. However, construction arm D.M. Consunji, Inc. saw profits plunge to P18 million due to delays and cost pressures.
Meanwhile, Concreat Holdings posted a P682 million loss as it continues to restructure.
Chairman and chief executive officer Isidro Consunji said the Group remains resilient, highlighting that ongoing improvements will deliver long-term stakeholder value. DMCI ended June with a solid financial position, including a 22 percent net gearing ratio.
