DMCI Holdings Inc. posted stronger second-quarter earnings as record contributions from its nickel mining business and resilient results from its power, real estate and construction units more than offset a weaker contribution from Maynilad Water Services following the utility’s initial public offering.
For the first half of 2026, the Consunji-led conglomerate reported a 26 percent increase in consolidated net income to P11.4 billion from P9.0 billion a year earlier, reflecting the group’s increasingly diversified earnings base. Record nickel mining profits and a sharp turnaround in its cement business helped drive growth despite softer contributions from its water utility investment.
Integrated energy unit Semirara Mining and Power Corp. remained the group’s biggest earnings engine, contributing P2.7 billion in the second quarter, up 17 percent from P2.3 billion a year earlier. Stronger power generation more than compensated for weaker coal operations, with electricity accounting for 96 percent of SMPC’s earnings during the period.
DMCI Mining delivered its strongest quarterly performance on record, with earnings surging nearly fourfold to P1.3 billion from P344 million. The jump was fueled by record shipment volumes following the full-quarter contribution of the Long Point mine, which expanded the company’s operating mines to three.
Property developer DMCI Homes raised net income by 49 percent to P1.0 billion from P705 million, supported by higher residential revenues, fewer sales cancellations and stronger operating margins.
Maynilad’s contribution declined 17 percent to P810 million from P974 million, reflecting DMCI Holdings’ lower effective ownership after the water concessionaire’s stock market debut rather than weaker operating performance.
Elsewhere, DMCI Power increased earnings by 9 percent to P406 million as new generating capacity in Masbate and Antique lifted electricity sales to a record level.
Construction arm D.M. Consunji Inc. posted a marked recovery, contributing P195 million compared with just P18 million a year ago as project margins improved.
The group’s cement business, Concreat, came close to breaking even, trimming its attributable net loss to just P4 million from P682 million last year. The improvement reflected stronger cement sales, firmer selling prices and continuing operational efficiencies, suggesting the business may finally be emerging from a prolonged downturn.
