Filinvest Development Corp., the listed holding company of the Gotianun group, reported Thursday that its attributable net income slipped 6 percent to P10.8 billion in the first nine months of the year, from P11.48 billion recorded in the same period last year. Despite the slight decline in bottom-line earnings, total revenues and other income rose 10 percent year-on-year to reach P99 billion, up from P81.18 billion a year earlier.
The group’s diversified portfolio delivered mixed yet generally steady results across key segments. Banking revenues led growth, rising 16 percent to P51.4 billion, followed by the power sector which grew 8 percent to P14.8 billion, and hospitality which edged up 2 percent to P3.0 billion. Real estate revenues held steady at P23.6 billion, unchanged from the previous year.
“Our diversified businesses drove the overall financial performance despite the challenging macroeconomic environment. We will capitalize on this strength as we continue to build the businesses and sustain growth in the years ahead,” said FDC president and CEO Rhoda A. Huang.
The group’s banking arm, EastWest Bank, delivered solid results with a standalone net income of P5 billion for the nine-month period. Net interest income climbed 22 percent to P36.2 billion while non-interest income rose 10 percent to P5.8 billion. Revenue growth outpaced the rise in expenses, lifting pre-provision operating profit by 24 percent to P22.4 billion. Consumer lending remained the bank’s core business, accounting for 85 percent of its total loan portfolio.
FDC’s real estate division — which includes Filinvest Land Inc., Filinvest Alabang Inc., and Filinvest REIT Corp. — posted steady revenues of P23.6 billion. Residential sales contributed P15.4 billion, supported by healthy take-up of ready-for-occupancy units and increased project completions across its developments. Rental and mall revenues also held firm, with modest improvements seen in occupancy levels and visitor foot traffic.
FDC Utilities Inc., the group’s power subsidiary, recorded total revenues of P14.8 billion, an 8 percent increase year-on-year, supported by more favorable prices at the Wholesale Electricity Spot Market. Hospitality operations meanwhile brought in P3 billion in revenues, up 2 percent, helped largely by stronger food and beverage earnings. Its leisure portfolio covers seven hotels with around 1,800 rooms in total, plus two 18-hole golf courses at Filinvest Mimosa Plus Leisure City in Clark, Pampanga, operating under four homegrown brands: Crimson, Quest, Timberland Highlands, and the upcoming Grafik.
The nine-month results underscore how FDC’s broad business mix helped sustain top-line growth even amid economic headwinds, with each core sector — from financial services and power supply to property development and leisure — playing a key role in keeping the conglomerate on a stable footing as it positions itself for longer-term expansion.
