JG Summit Holdings Inc., the investment holding company of the Gokongwei Group, saw recurring earnings rise in 2025 on the back of resilient consumer demand and a recovery in travel, cushioning the impact of a massive write-down in its petrochemical business that pulled overall results into a loss.
Even as it navigates the fallout from its petrochemical exit, the company said it has begun exploring options for its Batangas facility. “We have also started discussions with potential buyers of the mothballed asset and are determining the best use of the Batangas complex,” said President and CEO Lance Y. Gokongwei, underscoring a strategic pivot away from the sector.
Gokongwei said the group is taking a cautious stance for 2026 amid heightened global uncertainty. “We are taking a prudent and disciplined approach—prioritizing cash flow protection, balance sheet strength, and operational efficiency,” he said, while maintaining a focus on long-term value creation.
Recurring net income from continuing operations rose 3 percent year on year to P31.9 billion, while consolidated revenues climbed 9 percent to P368.6 billion, reflecting broad-based strength across core businesses.
Among key units, Universal Robina Corp. posted a 4 percent increase in revenues to P168.0 billion, driven by strong volumes in its branded consumer foods business, sugar and renewables, and its Malaysia unit, partly offset by softer sales in animal nutrition and Indochina.
Robinsons Land Corp. reported a 13 percent rise in revenues to P48.4 billion, led by malls and hotels benefiting from the recovery in consumer spending and tourism.
Cebu Air Inc., which operates Cebu Pacific, saw revenues grow 14 percent to P119.9 billion after flying a record 26.9 million passengers, up 10 percent year on year, supported by steady load factors and higher cargo volumes.
Meantime, equity income from its investment in Manila Electric Co. rose 12 percent to P13.3 billion.
However, headline figures were weighed down by a P114.3 billion impairment in its petrochemical unit, resulting in a net loss of P87.9 billion for the year. Despite this, JG Summit maintained a solid balance sheet, with a debt-to-equity ratio of 0.73 and record dividends of P21.6 billion.
