The Gotianun Group’s holding company Filinvest Development Corp. (FDC) reported a one-percent decline in attributable net income to ₱7.36 billion for the first six months of 2026 from the ₱7.43 billion recorded in the same period last year due to lower earnings of its power and banking units.

In a disclosure to the Philippine Stock Exchange (PSE) on Thursday, Aug. 13, FDC said its consolidated net income was lower by two percent at ₱9 billion in the first half of 2026 from ₱9.18 billion in the same period last year, with banking, real estate, and power remaining the group’s main contributors during the reporting period.

Net income from real estate and hospitality rose strongly by 53 percent and 35 percent, respectively, but these gains were offset by a 23-percent decrease in banking’s profit, caused by higher loan loss provisions versus a year ago.

Total revenues and other income in the first half of 2026 rose by 10 percent year-on-year to ₱64.3 billion, with banking up 18 percent to ₱33.5 billion; real estate higher by 13 percent to ₱15.5 billion; and hospitality, 1.5-percent better at ₱2.2 billion. Power revenues declined by five percent to ₱9.1 billion.

“Filinvest Group’s diversified portfolio enabled us to generate healthy revenue growth and steady profit performance despite very challenging economic conditions,” said FDC President and Chief Executive Officer (CEO) Rhoda A. Huang.

She added, “We expect steady performance to continue in the months ahead, despite persistent macroeconomic challenges, and remain confident in a strong medium- to long-term recovery.”

East West Banking Corp.’s (EastWest Bank) top-line growth was tempered by higher provisions for probable losses amid continued macroeconomic and geopolitical uncertainties, resulting in a reported standalone net income of ₱3.4 billion for the first half of 2026.

FDC’s real estate business, comprising Filinvest Land Inc. (FLI), Filinvest Alabang Inc. (FAI), and Filinvest REIT Corp. (FILRT), posted a 16-percent increase in revenues to ₱14.7 billion, driven by commercial lot and residential sales.

Residential sales rose 23 percent, supported by sustained sales of ready-for-occupancy (RFO) units and higher completion across various residential projects. Mall and rental revenues remained steady, with slight gains in occupancy and foot traffic.

FDC Utilities Inc. (FDCUI), the group’s power subsidiary, reported total revenues and other income of ₱9.1 billion for the first six months of 2026. The subdued performance was mainly due to expiring bilateral contracts and lower contracted demand, partly offset by favorable Wholesale Electricity Spot Market (WESM) prices.

Revenues from hotel operations under Filinvest Hospitality Corp. (FHC) remained consistent with the previous year’s level, supported by higher average room rates and stronger contributions from the food and beverage (F&B) segment.

The banking segment accounted for the largest share of revenues and other income in the first half of 2026 at 52 percent of the conglomerate’s total. Real estate and power followed with contributions of 24 percent and 14 percent, respectively, while hospitality accounted for three percent. The balance came from other business units.

Revenue growth in the first six months of 2026 translated into the following net income contributions: the property group, comprising real estate and hospitality, contributed ₱2.9 billion, or 33 percent of FDC’s net income; power contributed ₱2.6 billion, or 30 percent; banking contributed ₱2.5 billion, or 29 percent; and sugar contributed ₱682 million, or the remaining eight percent. - James A. Loyola