DMCI Holdings Inc. said Friday it booked a P4-billion net income in the third quarter of 2024, up 3 percent from P3.87 billion in the same quarter last year.
The increase was driven by stronger contributions from the water utility, power generation, construction and nickel businesses, mitigating the impact of weaker results from coal mining and real estate, DMCI said in a disclosure to the stock exchange.
“Each of our businesses has been affected differently by the new normal in an increasingly complex environment. We are working hard to strengthen our group’s ecosystem, enhance operational efficiency to address macroeconomic challenges and weaker commodity prices, and effectively protect our margins,” said DMCI Holdings chairman and president Isidro Consunji.
Semirara Mining and Power Corp.’s attributable net income contribution in the third quarter declined 5 percent to P1.8 billion from P1.9 billion last year, mainly due to weaker coal selling prices.
Improved power generation contribution and higher coal shipments helped partially offset the impact of the stabilizing energy market.
Maynilad Water Services contributed P921 million in net income, up 55 percent from P596 million, on the back of higher billed volume, increased average effective tariff and lower cash costs.
DMCI Homes reported a contribution of P768 million, down by 36 percent on lower real estate revenues.
The decline was partially tempered by increased contributions from joint venture construction revenues, rentals and forfeitures and finance income.
DMCI Power’s net income contribution rose 23 percent to P328 million due to the uptick in energy sales and average selling prices, along with reduced cash costs.
D.M. Consunji, Inc. saw a 174-percent increase in contribution to P129 million, largely due to lower cash and noncash costs, as well as higher finance income.
DMCI Mining’s contribution recovered to P48 million from a P154-million loss last year, boosted by increased shipments and improved selling prices amid higher average nickel grade sold.
Nine-month net income declined 23 percent to P15.1 billion from P19.6 billion on the back of weaker contributions from the integrated energy, real estate, and nickel businesses.
Stronger contributions from the water utility, off-grid power generation and construction segments partially offset the decline.
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