DMCI Holdings, Inc. reported a consolidated net income of P15.1 billion in 2025, down 20 percent from P19.0 billion a year earlier, as weaker contributions from its integrated energy segment and losses from its cement business weighed on its bottom line.
In a disclosure on Tuesday, the conglomerate said the decline was partly offset by stronger performance from its real estate, construction, water, nickel mining and off-grid power businesses.
For the fourth quarter, consolidated net income was P3.3 billion, down 14 percent from P3.8 billion a year before.
The earnings drop in the fourth quarter was said to be due to lower contributions from the integrated energy segment and cement operations and the dilution of DMCI Holdings’ effective attributable ownership in Maynilad Water Services, Inc. following the latter’s initial public offering in November.
Among its subsidiaries, Semirara Mining and Power Corp. remained the group’s largest earnings contributor with P7.3 billion, down 33 percent lower from the previous year’s P11.1 billion, amid softer energy prices, reduced shipments and higher production costs.
Maynilad contributed P3.7 billion, up 11 percent from P3.3 billion, supported by tariff adjustments, stable billed connections, and improved network efficiencies.
Property unit DMCI Homes contributed P3.3 billion, a 14 percent increase from P2.7 billion, driven by higher residential revenues, increased rental and finance income, and a one-time gain from the settlement of a claim related to a previous investment.
For its part, DMCI Power Corp. delivered a record contribution of P1.3 billion, up slightly from P1.2 billion, on strong energy sales and capacity expansions in Palawan and Antique.
Mining subsidiary DMCI Mining Corp. contributed P924 million, more than triple the P246 million of the previous year, as nickel prices recovered, coupled with a higher output from its Zambales operations and the start of operations at the Long Point mine.
Construction arm D.M. Consunji, Inc. contributed P284 million, slightly higher than 2024’s P247 million, on increased construction accomplishments from new projects.
On the other hand, cement subsidiary Concreat Holdings Philippines Inc. posted a net loss of P1.9 billion, said to be due to higher financing expenses and lower average selling prices.
For 2026, DMCI Holdings has allocated P24.6 billion in capital expenditures (capex) for its subsidiaries, up 11 percent from P22.2 billion in 2025.
DMCI Homes is expected to account for the largest share, with up to P15.5 billion allocated for ongoing and new residential developments and land banking activities.
DMCI Power plans to spend P3.3 billion to add 44 megawatts of new capacity in Palawan, Occidental Mindoro and Calapan, while Concreat Holdings would be setting aside P2.9 billion for plant capacity improvements and operational upgrades.
Semirara Mining, meanwhile, has earmarked P1.9 billion mainly for power plant maintenance.
The remaining capital expenditures are expected to support construction equipment upgrades at D.M. Consunji and mine development initiatives at DMCI Mining.
DMCI Holdings shares on Tuesday slipped P0.19 or 1.94 percent, to close at P9.61 each.
