As there are lots of signs of a weakening Philippine economy connected with higher fuel prices and accelerating inflation, Filinvest Development Corporation (FDC) achieved growth in the first quarter this year with its net income reaching P3.9 billion, according to a news report by the Manila Bulletin.
To put things in perspective, posted below is an excerpt from the Manila Bulletin report. Some parts in boldface…
Filinvest Development Corp., the holding company of the Gotianun family, reported an eight percent increase in attributable net income to ₱3.9 billion for the first quarter, as robust performances in its banking and real estate divisions mitigated the sharp downturn in its power business.
The firm reported to the Philippine Stock Exchange that its consolidated net income grew by seven percent to ₱4.8 billion from ₱4.5 billion in the first quarter of 2025.
Total revenues and other income for the first quarter of 2026 rose by five percent versus the same period in 2025 to ₱30.8 billion.
The increases in revenues and other income by business segment were: Banking, 12 percent to ₱15.6 billion; Real estate, 16 percent to ₱7.9 billion; and Hospitality, 0.8 percent to ₱1.2 billion. Power declined by 28 percent to ₱3.6 billion.
“Business results were mixed: Real Estate and Hospitality showed resilience against macroeconomic pressure while for others, profits were flat or experienced decreases versus a year ago,” said FDC President and CEO Rhoda A. Huang.
She noted that, “We are facing the challenges with resolve to achieve revenue and profit growth in 2026, despite increasing inflation and weakening GDP growth, through astute strategies and persistence of our organization.”
Banking unit EastWest Bank’s (EW) top-line growth was driven by increased loan volumes and effective management of funding costs, resulting in a 20 percent rise in net interest income (NII) to ₱11.1 billion.
Non-interest income was affected by trading performance amid volatile market conditions, but this was partially offset by an eight percent growth in fee-based income.
FDC’s Real Estate business, composed of Filinvest Land, Inc. (FLI), Filinvest Alabang, Inc. (FAI), and Filinvest REIT Corp. (FILRT), recorded a 16 percent revenue increase to ₱7.9 billion due to stronger residential and commercial lot sales.
Residential sales increased by 28 percent, driven by sustained sales of ready-for-occupancy units and a higher percentage of completion for various residential projects. Mall and rental revenues remained steady with slight gains in occupancy and foot traffic.
The Power subsidiary, FDC Utilities, Inc. (FDCUI), reported total revenues and other income of ₱3.6 billion for the first quarter of 2025 due to a notable decrease in spot market sales and lower coal cost passthrough rates. This was mitigated by reduced costs resulting from lower sales volume.
Revenues from hotel operations under Filinvest Hospitality Corporation (FHC) remained consistent with the previous year’s level, supported by higher average room rates and enhanced contributions from the Food and Beverage (F&B) segment across its portfolio.
The Banking segment was the largest contributor to revenue and other income for the first quarter of 2026, representing 51 percent of the conglomerate’s total.
Real Estate and Power followed with contributions of 26 percent and 12 percent, respectively. The Hospitality segment accounted for four percent of revenues, while the remainder was attributed to other business units.
Let me end this post by asking you readers: What is your reaction to this recent development? Considering the current state of the economy of the Philippines today, how do you think Filinvest Development Corporation will be able to perform financially in this current quarter and the next quarter?
You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.
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