DMCI Reports Slight Drop in Q1 Net Income, Key Units Fall Short
Although several companies within DMCI’s portfolio reported income growth, others, such as Semirara Mining and Power Corporation, did not experience the same upward trend.
The Consunji family’s DMCI Holdings reported that its net income for Q1 2025 dropped by 9% to PHP 5.1 billion. The net income in the same period last year was PHP 5.6 billion.
The drop in net income has been attributed to lower numbers from DMCI’s coal, construction, and cement units.
The conglomerate claims that the results reflect “a mix of stabilizing coal prices and the ongoing integration of its newly acquired cement business in December 2024,” according to a report by the Manila Bulletin.
DMCI Holdings Chairman and CEO Isidro A. Consunji commented on DMCI’s performance for Q1 2025, saying, “Market conditions today are very different from five years ago, but our businesses have adapted well.”
“We continue to pursue organic growth across the portfolio, while laying the groundwork for a successful transformation of our cement operations,” he added.
Losses That Impacted DMCI’s Q1 Income
The first quarter of 2025 proved challenging for some companies within DMCI’s portfolio, negatively impacting the conglomerate’s overall earnings.
Among these companies is Semirara Mining and Power Corporation. Semirara’s earnings dropped by 31% to ₱2.5 billion, which has been attributed to a higher share of lower-grade coal shipments and lower coal prices.
D.M. Consunji, Inc., DMCI’s construction unit, saw its earnings drop to PHP 50 million, which has been attributed to project delays and higher construction costs, among other reasons. Concreat Holdings Philippines recorded a net loss of PHP 546 million due to lower volume and higher interest expense. Formerly known as Cemex Philippines, the company was acquired by DMCI last year.
Other Companies Increase Contributions
While certain companies experienced losses for Q1 2025, the rest have been able to positively contribute to DMCI’s net income.
DMCI Homes, for example, increased its contribution by 56% to PHP 1.4 billion due to higher forfeiture and rental income. DMCI Mining returned to profitability with a PHP 409 million net income. Last year, the company had a net loss of PHP 22 million.
DMCI Power also posted a positive contribution this year, increasing by 2% to reach PHP 270 million. Lastly, Maynilad Water Services contributed PHP 926 million, a 39% increase from last year’s PHP 664 million. DMCI holds a 27% stake in Maynilad.
Photo Courtesy of DMCI
