Filinvest aims for 20% annual earnings growth in next 5 years
FILINVEST Development Corp. (FDC) of the Gotianun Group said Friday it is aiming to grow its earnings by an average of at least 20 percent annually over the next five years.
FDC president and chief executive Rhoda Huang said during the company’s annual stockholders meeting Friday the sustained growth of its core property, hospitality, banking and power generation businesses support the group’s plan.
“We believe we are well positioned to achieve our target given our strong performance in 2023. We will push for transformation across the group to attain faster earnings growth with a healthy balance of higher return on invested capital and revenue growth,” said Huang.
Huang said the company would also shape and optimize its portfolio to achieve this goal and support its subsidiaries in areas such as capital allocation, business development and initiatives to accelerate value creation.
It will also drive stronger synergies among business units to foster operational excellence and build a highperforming organization.
FDC is bullish on its industrial leasing portfolio amid growing manufacturing, warehousing and logistics businesses.
It is also looking for opportunities to grow its power generation business. The company recently started construction of its 20-megawatt solar project in Misamis Oriental.
It also expects its real estate leasing income to be more diversified, as the share of leasing earnings from retail and industrial estates increase over time from their sustained growth trajectory, while office leasing continues to improve occupancy.
Meanwhile, FDC declared a 58-percent increase in dividend per share, underscoring robust growth.
The company declared cash dividend equivalent to P0.10346 per share to shareholders. This is a 1.93-percent yield based on FDC’s end-December 2023 share price.
FDC registered a net income attributable to equity holders of the parent company of P8.9 billion in 2023, or 58 percent higher than P5.7 billion in 2022.