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Richmond Mercurio - The Philippine Star
May 15, 2026 | 12:00am
FDC delivered a net income attributable to equity holders of the parent company of P3.9 billion for the quarter, up by eight percent from P3.6 billion in the same period last year.
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MANILA, Philippines — Conglomerate Filinvest Development Corp. (FDC) of the Gotianun family booked higher earnings in the first quarter, with real estate serving as the group’s main driver of growth.
FDC delivered a net income attributable to equity holders of the parent company of P3.9 billion for the quarter, up by eight percent from P3.6 billion in the same period last year.
Net income for the period also grew by seven percent to P4.8 billion from last year’s P4.5 billion, as revenues and other income improved by five percent year-on-year to P30.8 billion.
FDC president and CEO Rhoda Huang said business results were mixed, with real estate and hospitality showing resilience amid macroeconomic pressure, while profits were flat or declined year-over-year for the others.
“We are facing the challenges with resolve to achieve revenue and profit growth in 2026, despite increasing inflation and weakening GDP growth, through astute strategies and persistence of our organization,” Huang said.
The banking segment was the largest contributor to revenue and other income in the first quarter, accounting for 51 percent of the conglomerate’s total.
This was followed by real estate and power, which contributed 26 percent and 12 percent, respectively.
FDC said EastWest Bank’s topline growth of 12 percent to P15.6 billion was driven by increased loan volumes and effective management of funding costs, resulting in a 20-percent rise in net interest income to P11.1 billion.
Its real estate business, composed of subsidiaries Filinvest Land Inc., Filinvest Alabang Inc. and Filinvest REIT Corp., recorded a 16-percent increase in revenue to P7.9 billion, driven by stronger residential and commercial lot sales.
Power subsidiary FDC Utilities Inc. reported subdued business performance, with total revenues and other income plunging by 28 percent to P3.6 billion due to a notable decrease in spot market sales and lower coal cost passthrough rates.
Revenues from hotel operations under Filinvest Hospitality Corp. remained stable at P1.2 billion, supported by higher average room rates and enhanced contributions from the food and beverage segment across its portfolio.
