CURRENT REPORT UNDER SECTION 17 OF THE SECURITIES REGULATION CODE AND SRC RULE 17.2(c) THEREUNDER
1. Date of Report (Date of earliest event reported)
May 9, 2023
2. SEC Identification Number
ASO95002283
3. BIR Tax Identification No.
004-703-376-000
4. Exact name of issuer as specified in its charter
DMCI HOLDINGS, INC.
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
3RD FLOOR DACON BLDG. 2281 CHINO ROCES AVENUE, MAKATI CITY Postal Code1231
8. Issuer's telephone number, including area code
(632) 8888 3000
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class
Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON
13,277,470,000
PREFERRED
960
11. Indicate the item numbers reported herein
ITEM NO. 9
The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.
DMCI Holdings, Inc.DMC
PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C) Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
DMCI Holdings nets P7.6B in Q1: down 32% on high base effect
Background/Description of the Disclosure
Diversified engineering conglomerate DMCI Holdings, Inc. recognized P7.6 billion in consolidated net income in the first quarter, a 32-percent drop from P11.3 billion largely due to high base effect of all-time high financial results.
Group revenues fell by 25 percent from P43.8 billion to P33 billion on lower commodity shipments, easing coal prices, reduced construction accomplishments, fewer real estate accounts that qualified for revenue recognition and higher real estate sales cancellations.
Quarter-over-quarter, consolidated bottom line more than doubled (120%) to P3.46 billion, and grew even faster (178%) compared to its pre-pandemic (2019) first-quarter net income of P2.74 billion.
“We anticipate some earnings slowdown this year since we’re coming off a very high base. Our construction and real estate businesses are also still recovering from the impacts of the pandemic,” said DMCI Holdings chairman and president Isidro A. Consunji.
“Overall, our results should still be better than our pre-pandemic level. We’re also expecting significant growth in our power businesses and Maynilad,” he added.
Core net income contribution from SMPC shrank by 40 percent from P8.5 billion to P5.1 billion mostly from high base effect as the company recorded all-time high quarterly earnings during the same period last year.
Coal contribution weakened on lower shipments and softening prices, but was offset by record-breaking power contribution on the back of higher plant availability, gross generation, sales volume and average selling prices. Attributable core earnings from DMCI Homes contracted by 22 percent from P1.4 billion to P1.1 billion due to revenue recognition slowdown and higher operating expenses, cushioned by higher other income.
Contribution from Maynilad surged by 64 percent from P319 million to P523 million on higher billed volume, better customer mix, improved average effective tariff and recovering profit margins.
DMCI Mining core net income contribution tapered by 5 percent from P499 million to P473 million due to the combined effect of lower shipments and better selling prices.
Contribution from DMCI decreased by 26 percent from P367 million to P273 million on lower construction accomplishment and fewer projects.
DMCI Power core net income contribution rose by 2 percent from P132 million to P134 million on higher electricity dispatch and better selling prices.
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Disclaimer: This press release contains forward-looking statements, which are subject to risks and uncertainties that may cause actual performance to differ materially from expected results or projections as of the date of this news release. No assurance can be given that the results anticipated by DMC, or indicated by any such forward looking statements, will be achieved.
DMCI Holdings, Inc.DMC