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Manila Bulletin devider Business devider The Stock Market devider Phinma's earnings fall as property, materials units weigh

Phinma's earnings fall as property, materials units weigh

Published May 12, 2026 12:06 pm

Del Rosario-led PHINMA Corp. reported a 27.6-percent drop in attributable net income to ₱407.43 million in the first quarter of 2026 from the ₱562.62 million earned during the same period last year due to losses from its property and construction materials businesses.

In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, May 12, the firm said consolidated revenues declined by 17.4 percent to ₱5.45 billion during the period under review from ₱6.6 billion in the comparative quarter last year.

PHINMA Education Holdings Inc.’s strong performance, as well as higher earnings from PHINMA Solar Energy Corp. (PSEC) and PHINMA’s hospitality segment, shaped the company’s first-quarter results.

Across the group, PHINMA said its businesses also improved sales execution, drove cost reductions, and maintained disciplined capital management.

“Our strategic business units continue to focus on execution, stronger revenue generation, cost management, and the strategic use of capital,” said Chito B. Salazar, PHINMA president and chief operating officer (COO).

He added that, “These initiatives across the group will further bolster our financial position and support our long-term growth plans, allowing us to better create sustainable impacts in the communities that we seek to uplift and the markets we serve.”

PHINMA Education reported a 12-percent increase in enrollment figures for the second semester of school year (SY) 2025-2026, which led to consolidated revenues of ₱2.34 billion from ₱2.1 billion and consolidated net income of ₱1.13 billion from ₱907 million.

PHINMA’s construction materials segment—comprised of Union Galvasteel Corp. (UGC), Philcement Corp., Union Insulated Panel Corp. (UIPC), and PSEC—reported combined revenues of ₱2.56 billion, down from ₱3 billion, and a lower net loss of ₱23.78 million from a loss of ₱69.71 million last year.

With the persistent slowdown in Metro Manila’s real estate market, PHINMA Property Holdings Corp. (PHINMA Properties) recorded lower revenues of ₱337.52 million from ₱411.96 million and a higher net loss of ₱230.04 million from ₱100.61 million.

PHINMA’s hospitality segment, which includes Coral Way City Hotel Corp., PHINMA Hospitality Inc., PHINMA Hospitality Management Corp., and PHINMA Microtel Hotels Inc., reported improved revenues of ₱144.06 million from ₱136.34 million and a combined net income of ₱12.80 million, up from ₱5.23 million.

Occupancy and room rates improved across several hotel properties due to increased domestic business and leisure activity. - James A. Loyola

Related Tags

PHINMA Corporation Chito B. Salazar PHINMA Education Holdings Inc.
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