Filinvest Development Corp. (FDC) reported a 25 percent increase in net income to ₱3.6 billion in the first quarter of 2025, up from ₱2.9 billion in the same period last year, as all major business units—from banking to sugar milling—posted solid performance, the company said Wednesday.
Total revenue climbed 11 percent to ₱29.3 billion, underscoring a robust start to the year for one of the country’s largest and most diversified conglomerates.
“We started the year with a strong performance by all business units. We look forward to sustaining this momentum for the remainder of the year despite emerging challenges in some business segments,” said FDC president and CEO Rhoda A. Huang in a statement.
Banking, the largest revenue contributor, surged 18 percent year-on-year to ₱13.9 billion, driven by the performance of EastWest Bank. The lender recorded a 13 percent increase in net interest income to ₱9.3 billion, fueled by a 15 percent rise in consumer loans—highlighting continued credit demand in the post-pandemic recovery period.
The real estate segment, composed of Filinvest Land Inc., Filinvest Alabang, Inc., and Filinvest REIT Corp., posted a 13 percent revenue increase to ₱6.8 billion. This was led by a 9 percent rise in residential sales, particularly in southern Luzon, Visayas, and Mindanao, and a 19 percent boost in mall and rental income on the back of rising foot traffic and occupancy rates.
Meanwhile, hospitality revenues soared 21 percent to ₱1.2 billion, buoyed by higher occupancy rates, improved room pricing, and stronger food and beverage operations across Filinvest Hospitality Corp.’s seven-hotel portfolio. The group operates 1,800 rooms under homegrown brands Crimson, Quest, and Timberland Highlands, and manages two 18-hole golf courses.
Sugar operations posted a 7 percent increase in revenues to ₱2.4 billion, reflecting a stable demand environment.
FDC Utilities Inc. reported a 7 percent decline in power revenue to ₱5 billion, attributed to lower average prices and reduced volume amid a prolonged cooler season early in the year. However, this was partially offset by lower fuel costs, resulting in a net income contribution of ₱1.2 billion for the segment.
The strong performance across FDC’s diversified portfolio—spanning financial services, real estate, power, hospitality, and agriculture—underscores the group’s resilience and strategic positioning amid varying macroeconomic conditions. While some segments, such as power, are facing headwinds, the company expects continued momentum across its core businesses.
FDC’s strong first-quarter showing positions it well for 2025 as it leverages demand recovery across key sectors of the Philippine economy.
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