Filinvest Development Corp, the listed investment holding company of the Gotianun Group, saw first-quarter net income rise by 8 percent, driven mainly by strong real estate sales and resilient banking operations. The conglomerate said it expects to sustain growth through 2026 despite rising inflation, slowing economic growth, and weaker contributions from its power business.
Net income attributable to equity holders of the parent reached P3.9 billion in the January-to-March period, up from P3.6 billion a year earlier, while consolidated net income rose 7 percent to P4.8 billion. Consolidated revenues and other income climbed 5 percent to P30.8 billion.
“Business results were mixed,” FDC President and CEO Rhoda Huang said. “Real Estate and Hospitality showed resilience against macroeconomic pressure, while others posted flat or lower profits versus a year ago. We are facing these challenges with resolve to achieve revenue and profit growth in 2026 despite increasing inflation and weakening GDP growth.”
The conglomerate’s property business emerged as the main growth driver during the quarter. Revenues from real estate operations rose 16 percent to P7.9 billion, fueled by stronger residential and commercial lot sales. Residential sales jumped 28 percent, supported by ready-for-occupancy units and higher completion rates for ongoing projects.
Banking subsidiary EastWest Bank remained the group’s largest revenue contributor, accounting for 51 percent of total revenues and other income. The bank posted a 20 percent increase in net interest income to P11.1 billion as consumer lending expanded and funding costs were managed efficiently, lifting net interest margin to 8.6 percent.
The power business, however, faced headwinds. Revenues from FDC Utilities Inc. declined 28 percent to P3.6 billion due to weaker spot market sales and lower coal cost passthrough rates.
Hospitality revenues were largely steady as higher room rates and stronger food-and-beverage sales offset softer travel conditions. The group’s hotel portfolio includes the Crimson and Quest brands.
At the end of March, FDC’s total assets stood at P888 billion, with a debt-to-equity ratio of 0.60:1, giving the conglomerate room to pursue expansion while maintaining financial flexibility.
