DMCI earmarks P70-B capex, over half set for Maynilad – BusinessWorld Online
DMCI HOLDINGS, INC. is increasing its capital expenditure (capex) budget to P70 billion for 2025, up 45% from P48.3 billion in 2024, with a significant allocation for its water business and expansion initiatives.
For this year, DMCI Holdings is allocating P41 billion for the west zone water concessionaire Maynilad Water Services, Inc., DMCI Chief Finance Officer Herbert M. Consunji told reporters on the sidelines of SharePhil’s general membership meeting on Wednesday.
Maynilad’s capex budget for this year is higher than the P25.7 billion in 2024, mainly for sewerage service expansion and water source projects.
DMCI and Metro Pacific Investments Corp. (MPIC) control Maynilad with 25% and 53% stakes, respectively. Marubeni Corp. holds 20%, while other investors own the remaining 2%.
About P17.9 billion is allocated for DMCI Homes, Inc.; P6.4 billion for Semirara Mining and Power Corp.; P1.6 billion for DMCI Power Corp. to fund its pipeline capacity expansion; P1.9 billion for Cemex Holdings Philippines, Inc.; and P500 million each for DMCI Mining Corp. and DMCI Holdings.
For 2024, DMCI Holdings’ core net income fell 21.5% to P18.78 billion from P23.93 billion in the comparable period a year ago.
The company cited weaker contributions from its energy, real estate, construction and nickel businesses.
Total revenue dropped 17% to P102.38 billion from P122.83 billion in 2023.
At the stock exchange on Thursday, shares in DMCI Holdings gained 32 centavos, or 2.78%, to close at P11.82 apiece. — Ashley Erika O. Jose