COVER SHEET
D
M C I
A S O 9 5 0 0 2 2 8 3
SEC Registration Number
H O L D I N G S , I N C .
(Company's Full Name)
3
R D
F L R .
D A C O N
B L D G .
2 2 8 1
C
H I N O
R O C E S
A V E . M A K A T I
C I T Y
(Business Address: No., Street City / Town / Province)
HERBERT M. CONSUNJI
Contact Person
8888-3000
Company Telephone Number
1 2 3 1
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SEC 17-C | 0 | 5 | 2 | 1 | ||
FORM TYPE | Month | Day |
Annual Meeting
N.A.
Secondary License Type, If Applicable
Amended Articles Number / Section
Total Amount of Borrowings
Total No. of Stockholders
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Foreign
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SECURITIES AND EXCHANGE COMMISSION
SEC FORM 17-C
CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER
1. May 7, 2024
Date of Report (Date of earliest event reported)
2. SEC Identification Number ASO95-002283 | 3. BIR Tax Identification No. 004-703-376 |
4. DMCI Holdings, Inc.
Exact name of issuer as specified in its charter
5. | Philippines | 6. | (SEC Use Only) | ||
Province, country or other jurisdiction of | Industry Classification Code: | ||||
incorporation | |||||
7. | 3/F Dacon Building, 2281 Don Chino Roces Avenue, Makati City | 1231 | |||
Address of principal office | Postal Code | ||||
8. | (632) 8888-3000 | ||||
Issuer's telephone number, including area code | |||||
9. | Not applicable | ||||
Former name or former address, if changed since last report |
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class | No. of Shares Outstanding | Amount |
Common Shares | 13,277,470,000 | Php13,277,470,000.00 |
Preferred Shares | 960 | 960.00 |
TOTAL | 13,277,470,960 | Php13,277,470,960.00 |
11. Indicate the item numbers reported herein: Item 9
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This is to inform the investing public of the following press release:
DMCI Holdings Q1 net income drops 25% to P5.6B
due to stabilizing commodity prices
Diversified engineering conglomerate DMCI Holdings, Inc. saw its first quarter consolidated net income decline by 25 percent to P5.6 billion from P7.5 billion on lower contributions from most of its businesses.
Quarter-over-quarter, group net earnings rose by 19% from P4.7 billion and almost doubled (93%) compared to its pre-pandemic net income of P2.9 billion recorded in the first quarter of 2019.
From January to March, consolidated revenue fell by 17 percent from P33.0 billion to P27.4 billion due to stabilizing coal, nickel and electricity prices, along with lower construction accomplishments, fewer real estate accounts that qualified for revenue recognition and higher real estate sales cancellations.
"Market prices pose a significant challenge for us this year. We do not expect coal, nickel and electricity prices to recover to the highs of the past two years due to shifts in demand-supply dynamics," said DMCI Holdings chairman and president Isidro A. Consunji.
"To mitigate these external challenges, we will focus on improving operational efficiency and refining our marketing strategies to enhance the value of our products and services," he added.
Contribution Breakdown
Net income contribution from Semirara Mining and Power Corporation (SMPC) dropped by 27 percent from P5.1 billion to P3.7 billion as weaker market prices muted the impact of higher coal shipments and electricity dispatch.
DMCI Homes contributed P879 million, a 12-percent drop from P994 million primarily due to revenue recognition slowdown from ongoing and new accounts.
Contribution from affiliate Maynilad increased by 28 percent from P519 million to P664 million owing to higher billed volume, better customer mix and improved average effective tariff.
DMCI Power nearly doubled (97%) its contribution from P134 million to P264 million, driven by increased generation capacity and electricity demand, coupled with lower fuel expenses.
D.M. Consunji, Inc. contributed P98 million, a 64-percent drop from P273 million due to project delays and fewer ongoing projects.
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DMCI Mining experienced a sharp reversal, shifting from a P473 million net income to a P22 million net loss due to decreased shipments, lower nickel grades and weaker selling prices.
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Disclaimer: This press release may contain 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.
SIGNATURES
Pursuant to the requirements of the Securities Regulation Code, the issuer has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
DMCI Holdings, Inc.
Issuer
May 7, 2024
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DMCI Holdings Inc. published this content on 07 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 May 2024 09:50:03 UTC.