Daily Tribune (Philippines)

DMCI net income jumps 164%, earns P17B

- BY MARIA ROMERO @tribunephl_mbr

Diversifie­d engineerin­g conglomera­te DMCI Holdings Inc. powered through the global health crisis last year as it booked a triple-digit growth in its net income — the highest in its history.

The company disclosed to the bourse on Tuesday that its core net income for 2021 reached P17.4 billion, which soared 164 percent from P6.6 billion last year.

For the fourth quarter alone, DMCI Holdings posted a 145-percent rise in core earnings from P2 billion to P5 billion. Meanwhile, net income climbed even higher at 152 percent from P1.9 billion to P4.9 billion.

DMCI Holdings attributed the surge in its bottom line to higher prices, recovering electricit­y rates, and higher constructi­on accomplish­ments.

Robust growth for units

“Nearly all of our subsidiari­es grew triple digits in 2021 because of higher productivi­ty and what we believe is the start of a commoditie­s supercycle,” said DMCI Holdings chairperso­n and president Isidro Consunji said.

However, Consunji noted that the company expects “extreme volatility in coal and nickel prices because of the ongoing crisis in Ukraine, economic sanctions on Russian and possible policy interventi­ons of China and Indonesia.”

Commoditie­s, or raw materials such as coal and nickel, are said to be in a super cycle when their prices trade above their long-term price over a prolonged period.

In 2021, Newcastle coal prices reached an all-time high of $269.50 in October while LME nickel hit a ten-year high of $22,145 in September.

Meanwhile, the company noted that income from its parent and others recovered by 122 percent from a P51-million net loss to a net income of P11 million in the absence of expenses related to Covid-19.

 ?? PHOTOGRAPH COURTESY OF PSE ?? Gender ringer Bourse operator Philippine Stock Exchange Inc.'s (PSE) board and management together with the women leaders of the company opened trading on Internatio­nal Women’s Day yesterday with a bell ringing event in support of the global Ring the Bell for Gender Equality program. On the trading floor are (from left, by row) Capital Markets Integrity Corporatio­n president Daisy Arce and Securities Clearing Corporatio­n of the Philippine­s COO Renee Rubio; PSE General Counsel Veronica del Rosario; PSE Treasurer Omelita Tiangco, PSE President and CEO Ramon Monzon, PSE Corporate Secretary Aissa Encarnacio­n and PSE Issuer Regulation Division Head Marigel Garcia; PSE Technology Division Head Philip Driz, PSE Capital Markets Developmen­t Division Head Mark Frederick Visda and PSE COO Roel Refran.
PHOTOGRAPH COURTESY OF PSE Gender ringer Bourse operator Philippine Stock Exchange Inc.'s (PSE) board and management together with the women leaders of the company opened trading on Internatio­nal Women’s Day yesterday with a bell ringing event in support of the global Ring the Bell for Gender Equality program. On the trading floor are (from left, by row) Capital Markets Integrity Corporatio­n president Daisy Arce and Securities Clearing Corporatio­n of the Philippine­s COO Renee Rubio; PSE General Counsel Veronica del Rosario; PSE Treasurer Omelita Tiangco, PSE President and CEO Ramon Monzon, PSE Corporate Secretary Aissa Encarnacio­n and PSE Issuer Regulation Division Head Marigel Garcia; PSE Technology Division Head Philip Driz, PSE Capital Markets Developmen­t Division Head Mark Frederick Visda and PSE COO Roel Refran.

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