FDC profit hits P15 billion, up 24% on segment gains

FILINVEST Development Corp. (FDC) said its 2025 attributable net income reached P15.01 billion, a 23.7% increase from the P12.13 billion recorded in 2024.

In a disclosure on Thursday, the company attributed this performance to broad-based growth across its key business segments, specifically citing that “banking, real estate and power subsidiaries boosting FDC’s 2025 results.”

The Gotianun-led conglomerate said that the 2025 result “was the highest profit recorded by the Filinvest Group in its history.”

Consolidated net income for the period rose by 20.2% to P18.88 billion from P15.70 billion in 2024. Total revenues and other income (gross revenue) grew 6.3% to P120.57 billion from P113.45 billion in the preceding year.

The banking and financial services segment remained the primary contributor, providing P7 billion or 40% of the group’s bottom line.

Standing alone, EastWest Bank (EW) achieved a record net income of P9.2 billion, which was “driven by steady growth in consumer loans and strong deposit generation.”

The bank’s “consumer lending portfolio, which yields high returns, increased by 15% and contributed 84% of the total loan base,” while net interest income rose 21% to P40.6 billion.

The power subsidiary, FDC Utilities, Inc., contributed P4.9 billion to the group’s net income, a 14% increase year on year.

The company noted that while segment revenues declined by 27% to P17.9 billion “due to reduced spot market activity and lower coal cost pass-through rates, this impact was mitigated by a reduction in operational expenses.”

The real estate business, including Filinvest Land, Inc. and Filinvest REIT Corp., generated P4.6 billion, up 21% from the P3.8 billion earned in 2024.

The residential segment saw a 15% revenue increase to P20.2 billion “due to higher project completion of mid-rise condominiums and housing developments, along with a larger number of accounts now recognized as revenue.”

Hotel operations under Filinvest Hospitality Corp. contributed P264 million in net income, supported by P3.8 billion in revenues.

The company noted that “stable domestic tourism strengthened occupancy rates and drove increases in average room rates across its seven properties.”

FDC’s portfolio currently encompasses approximately 1,800 rooms under the Crimson, Quest, and Timberland Highlands brands.

FDC President and Chief Executive Officer Rhoda A. Huang said: “FDC delivered another year of strong results. As we commemorated our 70^th anniversary in 2025, this record performance underscores our capacity to adapt to changing environments and capitalize on opportunities as they arise.”

The group’s total costs and expenses for 2025 reached P96.33 billion, a 3.7% increase from P92.89 billion in 2024.

A significant cost reduction was seen in power operations, which fell 42.2% to P9.65 billion from P16.69 billion.

Conversely, banking and financial services expenses rose 20.9% to P39.71 billion.

As of Dec. 31, 2025, FDC’s total assets grew by 7.2% to P872.09 billion. 

The company maintained a “healthy balance sheet” with a debt-to-equity ratio of 0.59:1 and a net debt-to-equity ratio of 0.36:1.

FDC shares went down by 0.71% to P4.20 per share on Thursday. — Alexandria Grace C. Magno