Gotianun-led Filinvest Development Corp. (FDC) posted a net income of P3.6 billion in the first quarter of 2025, up 25 percent from P2.9 billion in the same period last year as all core business registered double-digit growth.
FDC has investments in banking, power, real estate, hospitality, and sugar.
“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 chief executive Rhoda Huang in a statement to the stock exchange Thursday.
Total revenues and other income increased by 11 percent to P29.3 billion in the first quarter.
Banking was the top revenue contributor for the group in the first quarter, accounting for 48 percent of total revenues. Real estate and power followed with 23 percent and 17 percent, respectively. Hospitality contributed 4 percent.
EastWest Bank, FDC’s banking arm, recorded a 13 percent increase in net interest income to P9.3 billion.
This was driven by a 15 percent rise in consumer loans, which made up 84 percent of the bank’s loan portfolio. Non-interest income also rose by 25 percent to P2.3 billion.
The power segment, operated by FDC Utilities, Inc., generated P5 billion in revenues and P1.2 billion in net income.
Revenues, however, declined by 7 percent due to lower average prices and colder weather.
FDC’s real estate business, which includes Filinvest Land, Filinvest Alabang, and Filinvest REIT, saw revenues grow by 13 percent. The growth came from higher residential sales, especially in CALABARZON, Visayas, and Mindanao, as well as improved mall rental income.
The hospitality business, under Filinvest Hospitality Corp., reported a 21 percent increase in revenues. Higher occupancy rates, better room pricing, and improved food and beverage sales boosted the segment’s performance.
The share price of FDC rose 2.71 percent to P4.54 apiece on Thursday.
