CONSTRUCTION firm DM Consunji, Inc. secured almost P4 billion worth of new contracts in the first quarter of 2019, coming from a mix of infrastructure and building projects.
DM Consunji said its newly signed projects include the track works and electromechanical system (EMS) for the Light Rail Transit (LRT) Line 2 East extension, which is being undertaken alongside consortium partner Marubeni Corp.
The LRT-2 East extension is scheduled to be completed within 18 months.
“Hopefully, the LRT-2 EMS contract is just the start of more infrastructure projects for DM Consunji. We want to focus on helping the government implement its Build, Build, Build program,” DM Consunji President and Chief Executive Officer Jorge A. Consunji said in a statement.
The company also bagged the contract to build the Presidential Security Group Station Hospital, and the University of the Philippines College of Medicine Sciences Building.
DM Consunji’s order book stood at P25.8 billion by the end of the first quarter, eight percent lower from the same period a year ago.
Existing projects include the Metro Manila Skyway Stage 3 (SS3), the SS3 Nagtahan Ramp, LRT Line 2 East Extension Project’s viaduct and stations, Tarlac-Pangasinan-La Union Expressway, and the Cavite-Laguna Expressway.
“The projects for completion is Skyway, but it won’t be completely finished yet. We will be able to finish a down ramp and up ramp by June in the Philippine Columbian (Association) area. At least those two will relieve traffic,” DM Consunji Business Strategy and Development Senior Vice President Rebecca E. Civil told reporters in Makati last week.
Ms. Civil, however, noted that the entire Skyway project won’t be completed until 2020.
DM Consunji grew its bottom line by 12% in the first quarter of 2019, on the back of a 24% uptick in revenues to P4.2 billion.
The company attributed the positive performance to a 74% surge in infrastructure project revenues to P1.5 billion. This offset the 36% decline to P1.1 billion in revenues from building contracts as most of its projects are already near completion.
Revenues from energy projects soared 202% to P602 million, while plants and utilities projects generated P404 million, 29% higher year on year. DM Consunji’s ready-mix business and other project support activities, meanwhile, jumped by 122% to P540 million.
DM Consunji is the construction arm of listed infrastructure and engineering conglomerate DMCI Holdings, Inc., which also has core investments in coal mining, water, off-grid power generation, and property development. — Arra B. Francia