FILINVEST Development Corp. (FDC) saw its attributable net income rose by 8 percent in the first quarter of 2026, driven mainly by stronger contributions from its real estate business.
In a disclosure on Thursday, the Gotianun-led conglomerate said net income attributable to equity holders of the parent reached P3.9 billion in the January-to-March period, up from P3.6 billion a year earlier.
Consolidated net income likewise increased by 7 percent to P4.8 billion from P4.5 billion previously, while total revenues and other income grew by 5 percent to P30.8 billion.
The banking segment remained the company’s biggest revenue contributor, accounting for 51 percent of the total, followed by real estate at 26 percent and power at 12 percent.
FDC President and CEO Rhoda Huang said the conglomerate delivered mixed business results amid macroeconomic pressures.
“Real estate and hospitality showed resilience against macroeconomic pressure while for others, profits were flat or experienced decreases versus a year ago,” Huang said.
“We are facing the challenges with resolve to achieve revenue and profit growth in 2026, despite increasing inflation and weakening GDP (gross domestic product) growth, through astute strategies and persistence of our organization,” she added.
FDC’s real estate business, composed of Filinvest Land Inc., Filinvest Alabang Inc. and Filinvest REIT Corp., posted a 16-percent increase in revenues to P7.9 billion on the back of stronger residential and commercial lot sales.
Residential sales jumped 28 percent, supported by sustained demand for ready-for-occupancy units and higher completion rates for ongoing projects. Mall and rental revenues also posted slight gains due to improved occupancy and foot traffic.
Banking subsidiary EastWest Bank recorded a 20-percent rise in net interest income to P11.1 billion, driven by higher loan volumes and lower funding costs.
Consumer lending accounted for 84 percent of the bank’s total loan portfolio, helping lift its net interest margin to 8.6 percent. Fee-based income also rose by 8 percent, partially offsetting weaker trading gains amid volatile market conditions.
Meanwhile, power unit FDC Utilities Inc. saw revenues decline by 28 percent to P3.6 billion due to lower spot market sales and reduced coal cost pass-through rates.
Hospitality arm Filinvest Hospitality Corp. kept revenues largely steady as higher room rates and stronger food and beverage sales offset broader economic headwinds.
The property group, which includes real estate and hospitality, contributed P1.6 billion or 36 percent of FDC’s net income during the quarter. Banking accounted for P1.4 billion or 32 percent, while power and sugar contributed 21 percent and 11 percent, respectively.
As of end-March 2026, FDC’s total assets stood at P888 billion, while its debt-to-equity ratio was at 0.60:1.
The company’s board also approved cash dividends amounting to P0.14027 per share, payable on May 22 to shareholders on record as of May 12.
Filinvest shares on Thursday were unchanged at P4.62 each.
