Lower energy prices, cement unit’s losses cut DMCI profit

DMCI Holdings Inc., the holding firm of the Consunji Group, on Tuesday said its net income last year fell 20 percent to P15.1 billion from P19 billion in 2024 due to “normalizing contributions” from the integrated energy business and losses of its cement segment.

- BY VG CABUAG

The strong performance of the real estate, construction, water, nickel mining and off-grid power businesses helped partly offset the decline, the company said.

For the fourth quarter, consolidated net income reached P3.3 billion, down 14 percent from P3.8 billion, as lower contributions from the integrated energy business and cement operations weighed on results, alongside the dilution of the group's effective attributable ownership in Maynilad Water Services Inc., following its successful initial public offering in November.

For the full year, Semirara Mining and Power Corp. (SMPC) remained the group’s largest contributor with P7.3 billion, down 33 percent from P11.1 billion last year, on softer energy prices, reduced shipments and higher production costs.

Record coal production, power generation, and energy sales helped temper the impact of normalizing prices.