Diversified conglomerate DMCI Holdings Inc. saw its nine-month net income drop 22 percent to P11.8 billion from P15.1 billion last year, dragged by weaker energy and construction earnings and integration costs from its new cement business.
For the third quarter alone, profit slumped 33 percent to P2.7 billion, as soft coal and electricity prices, weather disruptions in mining, and higher costs weighed on performance.
The group’s flagship Semirara Mining and Power Corp. remained its biggest contributor, earning P5.8 billion, but that was 34 percent lower year on year amid lower market prices and rising production costs. Stronger shipment volumes helped cushion the decline.
Real estate arm DMCI Homes posted an 11 percent increase in profit to P2.7 billion, lifted by higher residential revenues, rentals, and financing income. Off-grid power unit DMCI Power hit a record P985 million, up 4 percent, supported by new plants in Palawan and Antique.
DMCI Mining swung to a P726 million profit from a P17 million loss last year on robust nickel prices and the ramp-up of its new Zambales mine.
Meanwhile, D.M. Consunji Inc. saw earnings fall to P187 million from P467 million due to project delays and rising costs. Newly acquired Concreat Holdings Philippines booked a P1.6 billion net loss amid higher financing expenses and softer demand, though integration efforts are underway to streamline operations.
Equity earnings from affiliates and the parent firm rose 23 percent to P3.1 billion, partly offsetting the decline in its main units.
The results highlight DMCI’s exposure to cyclical sectors but also the stabilizing effect of its diversified portfolio.
