Category: DMCI Homes

DMCI Holdings posts P10.3B in 2014

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Diversified engineering conglomerate DMCI Holdings, Inc. posted P10.3 billion in consolidated core income in 2014, a dip of 3% from the P10.6 billion posted last year. The drop in core income was attributable to the weakened operating results of its power and construction subsidiaries.

From P3.5 billion in 2013, net income contributions from power dropped 42% to P2 billion. Technical problems and commissioning delays forced the extended outage of Power Unit 2 of SEM-Calaca Power Corporation, which exposed the company to high Wholesale Electricity Spot Market (WESM) prices for its replacement power during the first half of the year.

Meanwhile, earnings from its construction subsidiary D.M. Consunji, Inc. were dragged down by cost overruns in its engineering, procurement, and construction (EPC) contract for a power plant, and the delayed implementation of major public infrastructure projects due to right-of-way and utility relocation issues.

Net income contributions from construction dropped 62% to P479 million compared to P1.3 billion the previous year.

The mining, real estate and water businesses posted strong results in 2014, which helped offset the income declines in the other segments.

The mining businesses rebounded from last year’s drop and showed significant growth in net income contributions due to the combined effect of higher sales volume and better average prices.

In particular, Semirara Mining and Power Corporation posted a 125% increase from P1 billion in 2013 to P2.3 billion the following year. Net income contributions from DMCI Mining Corporation surged 114% to P362 million, compared to P169 million in 2013.

Real estate subsidiary DMCI Homes continued to deliver remarkable growth, with a 22% increase in net income, mostly coming from gain realized on sale of lots. From P2.7 billion, net income contributions from real estate grew to P3.2 billion.

Continued improvement in the operational performance of affiliate Maynilad Water Services, Inc. pushed net earnings share from the water business to rise 6% to P2 billion compared to P1.9 billion the previous year.

“The resilience of our engineering diversification strategy was apparent in 2014. Despite the weaker-than-expected results of two business segments, we were able to stabilize the overall profitability of our investment portfolio,” said DMCI Holdings Chairman and President Isidro A. Consunji.

DMCI Holdings also reported a P173 million net loss in 2014, which represents its share in the net loss in initial operations of Private Infra Dev Corporation (PIDC), the project proponent and operator of the Tarlac-Pangasinan-La Union Toll Expressway (TPLEX).

Reported consolidated net income decreased by 43% year-on-year mainly due to the one-time gain on sale recognized in 2013. The one-time gain of P519 million in 2014 represents net gain on business combinations accounting for ENK Plc and Toledo Mining Corporation.

DMCI Holdings posts P10.3B in 2014

PRNEWS Admin Leave a comment

Diversified engineering conglomerate DMCI Holdings, Inc. posted P10.3 billion in consolidated core income in 2014, a dip of 3% from the P10.6 billion posted last year. The drop in core income was attributable to the weakened operating results of its power and construction subsidiaries.

From P3.5 billion in 2013, net income contributions from power dropped 42% to P2 billion. Technical problems and commissioning delays forced the extended outage of Power Unit 2 of SEM-Calaca Power Corporation, which exposed the company to high Wholesale Electricity Spot Market (WESM) prices for its replacement power during the first half of the year.

Meanwhile, earnings from its construction subsidiary D.M. Consunji, Inc. were dragged down by cost overruns in its engineering, procurement, and construction (EPC) contract for a power plant, and the delayed implementation of major public infrastructure projects due to right-of-way and utility relocation issues.

Net income contributions from construction dropped 62% to P479 million compared to P1.3 billion the previous year.

The mining, real estate and water businesses posted strong results in 2014, which helped offset the income declines in the other segments.

The mining businesses rebounded from last year’s drop and showed significant growth in net income contributions due to the combined effect of higher sales volume and better average prices.

In particular, Semirara Mining and Power Corporation posted a 125% increase from P1 billion in 2013 to P2.3 billion the following year. Net income contributions from DMCI Mining Corporation surged 114% to P362 million, compared to P169 million in 2013.

Real estate subsidiary DMCI Homes continued to deliver remarkable growth, with a 22% increase in net income, mostly coming from gain realized on sale of lots. From P2.7 billion, net income contributions from real estate grew to P3.2 billion.

Continued improvement in the operational performance of affiliate Maynilad Water Services, Inc. pushed net earnings share from the water business to rise 6% to P2 billion compared to P1.9 billion the previous year.

“The resilience of our engineering diversification strategy was apparent in 2014. Despite the weaker-than-expected results of two business segments, we were able to stabilize the overall profitability of our investment portfolio,” said DMCI Holdings Chairman and President Isidro A. Consunji.

DMCI Holdings also reported a P173 million net loss in 2014, which represents its share in the net loss in initial operations of Private Infra Dev Corporation (PIDC), the project proponent and operator of the Tarlac-Pangasinan-La Union Toll Expressway (TPLEX).

Reported consolidated net income decreased by 43% year-on-year mainly due to the one-time gain on sale recognized in 2013. The one-time gain of P519 million in 2014 represents net gain on business combinations accounting for ENK Plc and Toledo Mining Corporation.

Improving Customer Service with a new Customer Lounge

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Staying true to its corporate campaign on product and service quality, DMCI Homes has improved yet another facility for its clients. The Customer Lounge located at DMCI Homes Head Office, Brgy. Bangkal, Makati City is now ready to serve customer concerns with a bigger space, new facilities and improved systems.

 

With an expanded space, and an increased number of seats, the new Customer Lounge can hold a bigger number of clients in a more comfortable venue. Long queues will also be lessened as new windows for transactions were added, while customers wait within a well-lit, air-conditioned lounge area, complete with TV monitors for entertainment.

 

Customer Service Manager Ma. Isabel Ybañez shares the reason behind this upgrade saying, “We renovated with the idea of really making the clients comfortable.” Customer satisfaction is clearly one of the company’s shared goals.

 

DMCI Homes is continuously innovating to provide improvements on after-sales service. A new Customer Relationship Management (CRM) System is also being developed to make on-the-counter transactions much faster – a real testament to keeping with the company’s values.

DMCI Homes, EC Gas sign deal to introduce safer LPG tanks to homeowners

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DMCI Homes and liquefied petroleum gas (LPG) supplier Eastern Petroleum’s EC Gas have signed an agreement to promote the use of safer & lightweight LPG tanks among residents in the triple A property builder’s condominium communities as an added safety measure for homeowners.

DMCI Homes President Alfredo R. Austria and Fernando L. Martinez, chairman and chief operating officer of Eastern Petroleum, the mother company of EC Gas, signed the memorandum of agreement at the developer’s head office in Makati City on Jan. 14.

Under the agreement, DMCI Homes will endorse to thousands of DMCI Homes residents the use of EC Gas fiberglass LPG cylinders that will also carry the developer’s name. EC Gas will also offer a discount for the EC Gas cylinder to all DMCI Homes residents. For its part, EC Gas will supply the products and promote DMCI Homes as a user of the LPG brand.

Citing the “Iwas Sunog, Iwas Sabog” slogan of EC Gas, Martinez said the unique container can protect homeowners from LPG-related fire or explosion and accident.

“The safety of our homeowners is a big concern for us,” said Austria.

Aside from making DMCI Homes communities safer, Martinez said the fiberglass LPG tank promotes customer satisfaction because of its other innovative features. An EC Gas cylinder is half lighter than conventional steel LPG tanks, is translucent so the content level is visible to know when it is time to refill, and lasts longer, based on thousands of customers already using EC Gas.

“Our partnership with EC Gas also creates more convenience to give homeowners better value for their property investment,” Austria said.

“The partnership supports our tagline consistent with our goal of a high customer satisfaction among our customers,” DMCI Homes Senior Vice President for Sales Florante C. Ofrecio said of the agreement.

The EC Gas fiberglass cylinder is imported from Norway and consists of the explosion-proof fiberglass and an HDPE protective exterior casing. About 10 million such LPG containers are used in 40 countries with no single case of explosion, according to Martinez.

EC Gas became the exclusive distributor of the patented LPG cylinder technology last year because the company also wants to take on the challenge of reducing if not eliminating the more than 100 fires & explosion that occur in the country every year with corresponding casualties. With the agreement, Martinez said DMCI Homes will help EC Gas in its campaign.

“When you buy a house, it’s a serious investment and it pains us that what you have invested in may be gone in just a few hours because of an LPG explosion,” Martinez said. “Of course, the safety of your family is also at stake.”

Martinez added that EC Gas is fitted with a safety flow limiter that automatically stops the flow of LPG in case of accidental disconnection or rupture. EC Gas also received many testimonials where EC Gas users noted a longer lasting LPG, an increase of around 25% when cooking.

“You will be surprised when you try EC Gas. If before your full LPG tank lasts for one month, it will now last for one week more. That’s how it is very economical,” he said.

Martinez also said that homeowners are assured of correct amount of LPG content with EC Gas’ transparent casing.

Mandaluyong City cites DMCI Homes as one of its top 10 taxpayers

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The Mandaluyong City government has awarded DMCI Homes as one of its top 10 taxpayers and thanked the residential resort builder for contributing to the increased investments in the so-called Tiger City.

Mayor Benhur Abalos presented the award to Jan Venturanza, head of the DMCI Homes Marketing and Customer Care, and April Bernal, project development manager, during the celebration of the Mandaluyong City’s 21st founding anniversary and 70th Liberation Day commemoration dubbed Liberation Ball at the Wack-Wack Golf and Country Club on Feb. 8, 2015.

Abalos thanked DMCI Homes and the other top 10 taxpayer awardees for enabling the city government to earn P154 billion in revenues from the business sector and P155 billion in total investment last year.

“The city council, our taxpayers and our Ulirang Mandalenyo have shaped what our city is right now,” said Abalos. “We thank each and every one of you, all the industry players and investors, for all of the achievements that we have had.”

Venturanza said DMCI Homes is just doing its job as a good corporate citizen.

“It is our duty and privilege to try to support the City of Mandaluyong,” he said after receiving the award on behalf of DMCI Homes.

“DMCI Homes will continue to support the city of Mandaluyong by paying the right tax,” Bernal said.

Among the DMCI Homes’ residential condominium developments in Mandaluyong City are Flair Towers, Tivoli Garden Residences and Dansalan Gardens. It is also constructing the Sheridan Towers and the company has other residential projects lined up for the city, according to Bernal.

Said Venturanza, “We believe that Mandaluyong still has a lot of underserved customers. We are doing our best to serve that need.”

Abalos also thanked property developers for complying with the city’s Green Building Ordinance, which requires new residential, office and school buildings to have features that reduce energy use and recycle water. The ordinance is the first of its kind from a local government unit in the country.

Venturanza said that DMCI Homes has no problems complying with the ordinance because even before the Mandaluyong City Council passed the regulation one year ago, the company’s projects already have their inherent green building features. He mentioned the Lumiventt reduced building footprints, landscaped roof deck slabs and medium-density planning for its residential developments.

The Lumiventt is a proprietary design technology of DMCI Homes that allows building interiors to be naturally ventilated and lighted. The Lumiventt design includes the so-called Sky Patios or three-floor high openings at the front and back of the building as well as central atriums and breezeways every five floors.

DMCI Homes was also one of the top 10 companies that paid at least P1 billion in taxes to the Bureau of Internal Revenue (BIR) in 2013. The feat won for the company the BIR’s Billionaires’ Club Award last year.

DMCI Homes and other top 10 BIR taxpayers paid P755.23 billion in taxes in 2013. The figure is 15.98 percent higher than that collected from the largest taxpayers in 2012 and represented more than 60 percent of the BIR’s total 2013 tax collection target of P1.217 trillion.

DMCI Homes surpassed other older real estate companies when it came to paying the largest amount of tax to the BIR as it became a member of the BIR’s Billionaires Club in only its 15th year in existence. The premiere developer of innovative resort-themed residential condominium communities also was the only real estate company among the Billionaires’ Club awardees.