Diversified engineering conglomerate DMCI Holdings Inc. is increasing its capital expenditure (capex) budget by 11 percent this year to ₱24.6 billion from ₱22.2 billion in 2025, mainly for the expansion of its residential and off-grid power businesses and strategic improvements in cement operations.

In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, March 17, the Consunji holding firm said DMCI Homes is expected to account for 65 percent of aggregate capex, with up to ₱15.5 billion allocated for ongoing and new project construction and land banking, depending on market conditions.

Meanwhile, DMCI Power plans to spend ₱3.3 billion to fund 44 megawatts (MW) of new capacity in Palawan, Occidental Mindoro, and Calapan City, Oriental Mindoro.

Concreat Holdings Philippines has set aside ₱2.9 billion for plant capacity improvements, operational upgrades, and preventive maintenance, while Semirara Mining and Power Corp. (SMPC) has allocated ₱1.9 billion largely for power plant maintenance.

The remaining capex will support the re-fleeting of construction equipment and project requirements at D.M. Consunji Inc. worth ₱675 million, and DMCI Mining’s mine development initiatives worth ₱300 million.

DMCI also reported a 20-percent drop in consolidated net income to ₱15.1 billion in 2025 from ₱19 billion in 2024, mainly reflecting normalizing contributions from the integrated energy business and losses stemming from the integration of the cement segment.

Stronger performance from the real estate, construction, water, nickel mining, and off-grid power businesses helped partly offset the decline.

For the fourth quarter of 2025, consolidated net income declined 14 percent to ₱3.3 billion from ₱3.8 billion a year ago, as lower contributions from the integrated energy business and cement operations weighed on results.

Also contributing to the drop was the dilution of the group’s effective attributable ownership in Maynilad Water Services Inc. following its initial public offering (IPO) last November.

For the full year, SMPC remained the group’s largest contributor with ₱7.3 billion, down 33 percent from ₱11.1 billion in 2024, following softer energy prices, reduced shipments, and higher production costs.

Record coal production, power generation, and energy sales helped temper the impact of normalizing prices.

Maynilad contributed ₱3.7 billion, up 11 percent from ₱3.3 billion, driven by approved tariff adjustments, stable billed connections, and improved network efficiencies.

DMCI Homes posted ₱3.3 billion in contributions, up 14 percent from ₱2.7 billion, supported by higher residential revenues, increased rental and finance income, and a one-off gain from the settlement of a claim involving a previous investment.

DMCI Power delivered a record contribution of ₱1.3 billion, up from ₱1.2 billion, supported by record energy sales and capacity expansions in Palawan and Antique provinces.

DMCI Mining contributed ₱924 million, a 276-percent increase from ₱246 million, driven by nickel price recovery, higher output from its Zambales operations, and initial operations of Long Point mine. The company also achieved record nickel ore production of two million wet metric tons (WMT) during the year.

D.M. Consunji Inc. reported ₱284 million in contributions, slightly higher than the ₱247 million in 2024, driven by higher construction accomplishments from new projects, partly offset by increased costs related to project delays.

Meanwhile, Concreat Holdings Philippines posted a net loss contribution of ₱1.9 billion due to higher financing expenses and lower average selling prices. The company has implemented operational improvements to strengthen its position for recovery.