DMCI Holdings Inc. of the Consunji family reported strong growth in its residential, mining, and water businesses in the first quarter of 2025, but this was offset by its coal, construction, and cement units.

In a disclosure to the Philippine Stock Exchange, the firm reported a net income of ₱5.1 billion in the first quarter of 2025, down nine percent from ₱5.6 billion in the same period last year.

“The results reflect a mix of stabilizing coal prices and the ongoing integration of its newly acquired cement business in December 2024,” the diversified engineering conglomerate said.

Stronger results from the real estate, water, nickel mining, and off-grid power helped cushion the impact and underscored the strength and balance of the Group’s diversified portfolio.

“Market conditions today are very different from five years ago, but our businesses have adapted well,” said DMCI Holdings Chairman and CEO Isidro A. Consunji.

He noted that, “We continue to pursue organic growth across the portfolio, while laying the groundwork for a successful transformation of our cement operations.”

Semirara Mining and Power Corporation contributed ₱2.5 billion, down 31 percent from ₱3.7 billion in the first quarter last year, due to stabilizing coal prices and a higher share of lower-grade coal shipments. Stronger on-grid power performance helped cushion the decline.

DMCI Homes posted a 56 percent increase in contribution to ₱1.4 billion, from ₱879 million, driven by newly-recognized accounts, higher income from forfeitures and rentals, and stronger finance income.

Associate Maynilad Water Services increased its contribution by 39 percent to ₱926 million, from ₱664 million, supported by higher average effective tariff and lower cash costs, despite a dip in billed volume.

DMCI Power contributed ₱270 million, up two percent from ₱264 million, on increased energy sales and the expansion of bunker-fired capacity in Palawan.

Meanwhile, DMCI Mining swung from a ₱22 million net loss to a ₱409 million net income, fueled by strong operations and better selling prices. This followed the full activation of Zambales Chromite Mining Company (ZCMC), which expanded the number of active mines from one to two.

Construction firm D.M. Consunji, Inc. recorded a lower contribution of ₱50 million, from ₱98 million, due to higher cash costs, project delays, and conservative revenue recognition practices.

Concreat Holdings Philippines posted a net loss contribution of ₱546 million due to reduced volumes and higher interest expense. The company also began its transition under the DMCI Group, with integration efforts underway to support future improvements.