DOUBLEDRAGON Corp. (DD) is targeting global consolidated annual revenues of P500 billion and net income in excess of P50 billion by 2035 on the back of ongoing expansion plans.
Chairman Edgar Sia II expressed confidence that the company’s two strategic goals — to achieve the full maturation of its Philippine portfolio by optimizing revenue generation and second, to establish a significant offshore presence — would be completed by 2025.
He told stakeholders during the company’s annual stockholders’ meeting on Friday that DoubleDragon intended to establish a presence in all 82 provinces in the Philippines and expand its Hotel101 Global brand to 100 countries worldwide.
“These two specific and straightforward goals have been our focused obsession over the past year, and with one more year to go, I can confidently say we are on track to fully achieve them,” Sia said.
“I can confidently say, as we have announced a few years ago, from where DD stands today, DD will fully achieve that previously set goal of becoming a completely mature company by next year, 2025,” he added.
Central to the firm’s goals in the next 10 years is cementing DoubleDragon’s credentials as a major global player.
“Once we achieve these goals, DoubleDragon will stand as a major multi-currency inflow generator for the country,” Sia said.
Another objective is to become a fully debt-free company by then and generate more than P12 billion in annual cash dividends.
He described these goals as vital steps for DoubleDragon to contribute significantly to the Philippine economy, particularly by generating recurring foreign currency inflows that would bolster the country’s finances and economic position.
“All these five straightforward vital tasks we have set out can only be done by the whole DD team with solid support from all of you,” Sia said.
“Rest assured [that] myself and our whole DD team will put these five priority goals for 2035 to heart,” he added. “Your whole DD team will live and breathe these goals as we go forward toward 2035.”
For the first nine months of 2024, DoubleDragon reported a consolidated net income of P2.3 billion, with total assets of P192.43 billion and total equity of P94.9 billion as of end-September.
DoubleDragon shares on Friday closed up 10 centavos, or 0.96 percent, at P10.56 apiece amid a 0.37-percent downturn for the benchmark Philippine Stock Exchange index.
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