Filinvest Development Q2 profit surges 44%
GOTIANUN-LED Filinvest Development Corp. (FDC) reported a 44% year-on-year increase in second-quarter (Q2) attributable net income to P3.78 billion, driven by gains across its banking, real estate, power, hospitality, and sugar operations.
Total revenue and other income for the second quarter increased by 1% to P29.21 billion from P29.04 billion a year ago, FDC said in a regulatory filing on Thursday.
First-half attributable net income grew by 34% to P7.43 billion from P5.54 billion the prior year. Total revenue and other income improved by 5.5% to P58.5 billion.
“The growth was broad-based with banking, real estate, power, hospitality and sugar posting double-digit profit increases,” FDC said.
Banking contributed 38% or P3.2 billion of FDC’s net income, followed by power at 32% or P2.7 billion, property at 19% or P1.7 billion, and sugar at 11% or P997 million.
“We sustained our strong growth momentum in 2024 to the first half of 2025. All our business units contributed to this performance despite several challenges,” FDC President and Chief Executive Officer Rhoda A. Huang said.
“We are striving to deliver strong results for the entire year. We are harnessing the energy of the organization to continuously grow the business despite some headwinds,” she added.
For the banking segment, East West Banking Corp. saw a 15% increase in net interest income to P19.2 billion due to higher consumer loans.
Consumer lending remained the bank’s core product, accounting for 84% of the total loan book. Non-interest income went up by 29% to P3.5 billion.
The power business led by FDC Utilities, Inc. posted lower revenue and other income at P9.6 billion due to lower spot market activity and decline in coal cost pass-through rates in the period.
The real estate segment led by subsidiaries Filinvest Land, Inc., Filinvest Alabang, Inc., and Filinvest REIT Corp. recorded a 9% increase in revenue to P13.8 billion on higher residential sales and mall rental.
Residential sales climbed by 6% on stronger demand from the low-affordable and the high-end segments. Mall and rental revenues rose by 11% to P4.5 billion on higher occupancy and foot traffic.
Hotel operations under Filinvest Hospitality Corp. recorded a 7% revenue growth to P2.2 billion on better occupancy, higher volume and spend per guest, as well as improved contributions from the food and beverage segment.
The sugar business through Pacific Sugar Holdings Corp. saw a 23% increase in revenue and other income to P4.6 billion on higher milling and raw sugar sales.
FDC shares fell by 0.21% or one centavo to P4.75 per share on Thursday. — Revin Mikhael D. Ochave
