Filinvest Development Corporation (FDC) announced a strong start to 2025, reporting a net income attributable to equity holders of the parent company of ₱3.6 billion in the first quarter, a 25% increase from the ₱2.9 billion earned during the same period last year. Consolidated net income also rose by 21% to ₱4.5 billion, fueled by broad-based growth across all business segments—Banking, Power, Real Estate, Hospitality, and Sugar—all posting double-digit improvements.
“We started the year with a strong performance by all business units. We look forward to sustaining this momentum for the remainder of the year despite emerging challenges in some business segments,” said FDC President and CEO Rhoda A. Huang.
FDC’s total revenues and other income for the first quarter of 2025 climbed by 11% year-on-year to ₱29.3 billion, reflecting solid growth across key business lines:
- Banking revenues surged 18% to ₱13.9 billion, driven by increased consumer loans and higher banking transactions.
- Real Estate saw a 13% revenue rise to ₱6.8 billion, boosted by higher residential sales and mall rentals.
- Sugar business recorded a 7% increase to ₱2.4 billion.
- Hospitality revenues expanded by 21% to ₱1.2 billion, supported by strong occupancy rates and improved room pricing.
- The Power segment registered ₱5.0 billion in revenues, down 7% due to lower average prices and lower volume sold amid an extended colder season early in the year.
Business Unit Highlights
EastWest Bank (EW), FDC’s banking arm, experienced a 15% growth in consumer loans, leading to a 13% rise in net interest income to ₱9.3 billion. Consumer lending remained the bank’s core focus, accounting for 84% of its total loan book, pushing net interest margins to 8.1%. Meanwhile, non-interest income jumped 25% to ₱2.3 billion, reflecting an uptick in banking transactions.
FDC Utilities, Inc. (FDCUI), the conglomerate’s Power subsidiary, generated ₱5.0 billion in revenues, with a net income contribution of ₱1.2 billion. Although revenue declined due to weather-related factors, lower costs helped offset these challenges.
FDC’s Real Estate division, composed of subsidiaries Filinvest Land Inc. (FLI), Filinvest Alabang Inc. (FAI), and Filinvest REIT Corp. (FILRT), reported a 13% revenue increase in the first quarter, spurred by growing demand in residential sales and higher mall occupancy rates.
The Hospitality business under Filinvest Hospitality Corporation (FHC) experienced a 21% revenue jump, with improvements in occupancy rates and contributions from food & beverage operations. Notably, Crimson Resort and Spa Mactan was selected for the Michelin Guide, making it the only Cebu-based hotel in the prestigious listing.
With ₱832 billion in total assets as of March 2025, FDC maintains a solid balance sheet with a debt-to-equity ratio of 0.77:1, ensuring financial flexibility for expansion and growth. Recently, FDC’s Board of Directors approved a cash dividend of ₱0.14027 per share, reflecting a 36% increase, payable on June 10, 2025.
