Double-digit growth of most of its subsidiaries resulted in a strong first quartee performance of the Gotianun family’s investment holding firm Filinvest Development Corporation (FDC).

In a disclosure to the Philippine Stock Exchange, the firm said its consolidated attributable net income rose by 25 percent to ₱3.6 billion in the first three months of 2025from the ₱2.9 billion generated in the same period last year.

Consolidated net income rose by 21 percent to ₱4.5 billion from ₱3.7 billion in the same period in 2024. "The growth was broad-based with all segments - Banking, Power, Real Estate, Hospitality and Sugar - posting double-digit improvements," the company said.

“We started the year with a strong performance by all business units. We look forward to sustaining this momentum for the remainder of the year despite emerging challenges in some business segments,” said FDC President and CEO Rhoda A. Huang.

Total revenues and other income in the first quarter of 2025 improved by 11 percent versus the same period in 2024 to ₱29.3 billion.

The increases in revenues and other income by business segment were as follows: Banking, 18 percent to ₱13.9 billion; Real estate, 13 percent to ₱6.8 billion; Sugar, seven percent to ₱2.4 billion; and Hospitality, 21 percent to ₱1.2 billion. The revenues and other income of Power declined by seven percent to ₱5.0 billion.

EastWest Bank’s (EW) top-line growth was driven by a 15 percent increase in consumer loans leading to a 13 percent rise in net interest income (NII) to ₱9.3 billion in the first quarter of 2025.

Power subsidiary, FDC Utilities, Inc. (FDCUI), reported revenues of ₱5.0 billion in the first three months of 2025 and a net income contribution of ₱1.2 billion.

The lower average prices and lower volume sold in the period due to the extended colder season in the first two months of the year caused lower revenues versus year ago but these were offset by the reduced cost and expenses from lower fuel costs.

FDC's Real Estate business, composed of subsidiaries Filinvest Land, Inc. (FLI), Filinvest Alabang, Inc. (FAI), and Filinvest REIT Corp. (FILRT), generated 13 percent higher revenues in the first quarter of 2025 versus the same period last year from higher residential sales and mall rentals.

Revenues from hotel operations under Filinvest Hospitality Corporation (FHC) widened by 21 percent in the first three months of 2025 compared to the same period last year due to higher occupancy and better room rates, as well as improved contributions from the food and beverage (F&B) segment.

The Banking segment made the biggest contribution to revenues in the first quarter of 2025, accounting for 48 percent of the conglomerate’s total.

This was followed by Real Estate and Power with 23 percent and 17 percent, respectively. Hospitality accounted for 4 percent of the revenues, while the balance was distributed among other businesses.

The healthy revenue growth rates realized during the first three months of 2025 translated to the following bottom-line contributions: Banking contributed ₱1.4 billion accounting for 34 percent of FDC’s net income.

This was followed by Power with ₱1.2 billion contribution or 29 percent; Property business, composed of the Real Estate and Hospitality segments, added ₱970 million equivalent to 23 percent; and Sugar, ₱580 million for 14 percent.