PHINMA Corporation reported an 18 percent drop in consolidated net income to P1.5 billion last year due to higher raw materials costs driven by global supply chain disruptions, a strong US Dollar, and increased education costs due to a revision in school opening schedules. In a disclosure to the Philippine Stock Exchange, the firm said it continued its strong topline growth, closing 2022 with consolidated revenue of P17.7 billion, up 10 percent from 2021. "PHINMA's 2022 results highlight our successes in providing quality, accessible services for Filipino families through our education, construction materials, property development, and hospitality businesses,” said PHINMA President and COO Chito B. Salazar. He added that, “As our businesses grow and maintain their upward momentum, we remain steadfast to our mission of improving access to the essentials of a dignified life for families in the communities we serve.” PHINMA Education Holdings, Inc. became the country’s largest private education network as it welcomed 124,501 students for SY 2022-23, marking a 30 percent increase in annual enrollment. It owns 9 colleges and universities nationwide. This resulted in consolidated revenue of P4.1 billion in 2022, an increase of 11 percent over the previous year. Net income during the period, however, was P633 million, a decrease from P839 million for the previous year, due to a revision in the school opening schedules, reflecting 9 months of regular semester for 2022 as compared to eleven months in 2021. PHINMA Construction Materials Group (CMG), composed of Union Galvasteel Corporation (UGC), Philcement Corporation, and PHINMA Solar Corporation (PHINMA Solar), achieved an increase of 9 percent in revenue over the previous year with combined revenues of P13.2 billion for 2022. Net income for the construction group of P494.9 million for 2022 was, however, lower than the P902 million posted in the previous year due to abnormally higher input costs amidst global supply chain issues and a strong US Dollar. From affiliates PHINMA Property Holdings Corp. (PHINMA Properties) and Coral Way City Hotel Corporation (Coral Way), PHN equitized net income of P58 million in 2022, an increase over P32.9 million equitized in the previous year. PHINMA Corporation declared regular cash dividends equivalent to P0.60 per share payable on April 5, 2023 to shareholders on record as of March 22, 2023. “When we say we want to make lives better, we mean it. These numbers not only show a healthy company with a robust growth trajectory but also translate into impact that we make in the communities we serve as well as on a growing number of Filipino families whose lives we’ve made better,” said PHINMA Chairman and CEO Ramon R. del Rosario, Jr. He noted that, “Add to this the impressive turnout of our scholarships and other strategic outreach programs such as Brigada Eskwela and 1PHINMA Reaches Out, and we are even prouder of what we have accomplished in 2022.”