DMCI Holdings Earns P5.1B in Q1 2025, Down 9%; Core Businesses Temper Impact of Energy Normalization and Cement Integration

​Diversified engineering conglomerate DMCI Holdings reported a net income of P5.1 billion in the first quarter of 2025, down 9% from P5.6 billion in the previous year. The results reflect a mix of stabilizing coal prices and the ongoing integration of its newly acquired cement business in December 2024.

​Stronger results from the real estate, water, nickel mining, and off-grid power helped cushion the impact and underscored the strength and balance of the Group’s diversified portfolio.

“Market conditions today are very different from five years ago, but our businesses have adapted well,” said DMCI Holdings Chairman and CEO Isidro A. Consunji. “We continue to pursue organic growth across the portfolio, while laying the groundwork for a successful transformation of our cement operations.”

Earnings Contribution Breakdown

Semirara Mining and Power Corporation’s contributed P2.5 billion, down 31% from P3.7 billion, due to stabilizing coal prices and a higher share of lower-grade coal shipments. Stronger on-grid power performance helped cushion the decline.

DMCI Homes posted a 56% increase in contribution to P1.4 billion, from P879 million, driven by newly-recognized accounts, higher income from forfeitures and rentals, and stronger finance income.

Associate Maynilad Water Services increased its contribution by 39% to P926 million, from P664 million, supported by higher average effective tariff and lower cash costs, despite a dip in billed volume.

DMCI Power contributed P270 million, up 2% from P264 million, on increased energy sales and the expansion of bunker-fired capacity in Palawan.

DMCI Mining’s swung from a P22 million net loss to a P409 million net income, fueled by strong operations and better selling prices. This followed the full activation of Zambales Chromite Mining Company (ZCMC), which expanded the number of active mines from one to two.

D.M. Consunji, Inc. recorded a lower contribution of P50 million, from P98 million, due to higher cash costs, project delays, and conservative revenue recognition practices.

Concreat Holdings Philippines posted a net loss contribution of P546 million due to reduced volumes and higher interest expense. The company also began its transition under the DMCI Group, with integration efforts underway to support future improvements.
 
DMCI Holdings (PSE ticker: DMC) is the only listed Philippine conglomerate with construction and engineering as its core competency. Since its listing in 1995, the company has strategically expanded into real estate, mining, power, water and cement. Its subsidiaries and associate are key players in industries vital to national development. With a focus on nation building, DMCI Holdings invests exclusively in the Philippines, with most of its operations located outside Metro Manila.