MANILA — Engineering conglomerate DMCI Holdings said its net income fell by 23 percent to P15.1 billion because of weaker contributions from its energy, real estate, and nickel businesses.

The company noted, however, that stronger contributions from the water utility, off-grid power generation, and construction units partially offset the decline.

DMCI Holdings has investments in water concessionaire Maynilad, construction, nickel mining and power.

In a statement, the firm said net income climbed to P4 billion in the third quarter alone, higher by 3 percent from last year's figures.

In the third quarter, Semirara Mining and Power Corp.’s net income contribution fell by 5 percent to P1.8 billion because of weaker coal selling prices.

Semirara net income falls from January to September

DMCI Homes also contributed of P768 million, 36 percent less than the P1.2 billion it semt last year because of lower real estate revenues.

But construction arm D.M. Consunji, Inc.more than doubled its contribution from P47 million to P129 million, due to lower cash and noncash costs and higher finance income.

Maynilad Water Services also contributed P921 million in net income, up 55 percent from last year's numbers, on the back of higher billed volume and increased average effective tariff.

DMCI Power posted also increased its contribution by 23 percent to P328 million, because of more energy sales and higher average selling prices, and reduced cash costs.

DMCI Mining’s contribution recovered to P48 million — from a P154-million loss last year—because of increased shipments and higher selling prices.

The engineering giant also reported a 20 percent downturn in its 2023 net income. 

DMCI net income down 20 pct in 2023

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