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A pioneer in construction and engineering

Photo from DMCI Holdings, Inc. Annual Report 2021

The past years saw steady progress in the Philippine infrastructure. This has been possible with hardworking players in various industries, one of which is the diversified engineering conglomerate DMCI Holdings, Inc., currently headed by this year’s “MAP Management Man of the Year,” Filipino-Chinese businessman Isidro A. Consunji.

With a solid foundation in construction, DMCI Holdings expanded to real estate, energy, mining, and water industries. The company now works through five major subsidiaries: D.M. Consunji, Inc., or simply DMCI (construction services); DMCI Project Developers, Inc., more known as DMCI Homes (real estate development); Semirara and Mining Power Corp. (coal mining); DMCI Power Corp. (power generation); DMCI Mining Corp. (nickel mining); and an affiliation with Maynilad Water Services Inc. (water services).

DMCI Holding’s construction services are known for their building of landmarks and other big and complex infrastructure in the Philippines. It has accomplished over a thousand projects locally and internationally. Among the projects that DMCI embarked on include the Cultural Center of the Philippines, the Church of the Holy Sacrifice, and the Philippine International Convention Center.

The conglomerate’s real estate services, meanwhile, offer mid-income residential developments created to foster high-quality lifestyles. DMCI Homes has become a pioneer in building resort-like condominiums with large-sized pools, landscapes, and premium amenities.

The coal mining services explore, supply, and develop local coal resources and provide reliable power to its consumers in Semirara Island, while Acoje Mining and Berong Nickel Corp. are the industrial nickel suppliers.

DMCI Holding’s power generation front provides power and electrical services to small and remote islands that are not included in the main power infrastructure, using technology to provide reliable and sustainable electricity in the area. The water services, meanwhile, focus on providing water needs in the West Zone of Metro Manila, Olongapo City, and Subic Bay Freeport.

Other related companies of the holdings company include: DMCI Masbate Power Corp., DMC Construction Equipment Resources, Inc., DMCI Power Corp., Zambales Diversified Metals Corp., Wire Rope Corp. of the Philippines, and ENK Limited.

On March 8, 1995, DMCI Holdings, Inc. was founded and established by Engr. David M. Consunji, also known as the “Grandfather of the Philippine Construction Industry,” who also founded DMCI, the construction company. On April 27, 1995, the company was registered with the Securities and Exchange Commission.

Driven by entrepreneurial passion in construction and building, DMCI grew and became one of the Philippines’ biggest and most resilient engineering conglomerates. The following success of the private construction firm led to the expansion of the business organization engaging with subsidiaries that offer construction, residential development, mining power, and water services.

The company became one of the highest dividend-paying stocks with 26% in the Philippines, succeeded with a high score in the ASEAN Corporate Governance Scorecard (ACGS) in 2015, and became recognized as one of the Top ASEAN Asset Class Publicly Listed Companies at the 2019 ACGS Awards. Additionally, it was included in Bloomberg Gender-Equality Index (GEI) because of its commitment to gender equality in the workforce.

As BusinessWorld reported last March, DMCI Holdings’ profit achieved its highest peak at P17.4 billion, rising up to 164% in 2021. The growth of coal, power, and real estate operations contributed to the third-quarter core net income from P4.01 billion to P7.37 billion.

“Nearly all of our subsidiaries grew triple digits in 2021 because of higher productivity and what we believe is the start of a commodities super cycle,” Isidro A. Consunji was quoted as saying.

According to the DMCI Holdings’ annual report in 2021, there was an increased net income surge from P5.9 billion to P18.4 billion, despite the decrease in real estate projects in 2020. The net income has also increased from P2 billion to P5 billion during the fourth quarter of 2021.

Semirara Mining and Power Corp. made a big contribution with P9.2 billion last year, rising to P2 billion due to the increase in coal sales of 16%, average coal of 71%, and average electricity of 49%. With the 40% increase in average nickel selling prices and two million exports, DMCI Mining expected a 150% increase in contribution to P1.2 billion. Meanwhile, the positive outcomes of the real estate project in 2021 led to the company’s net profit surge from 127% to 4.4 billion. Whereas, DMCI Power recorded up to eight percent to P580 million due to higher power sales and lower fuel costs brought by the company’s 15-megawatt Masbate thermal plant operations.

D.M. Consunji, Inc., meanwhile, boosted its contributions by more than three times, with a growth of 247%, rising up to P378 million. This was attributed to an increased rate of construction accomplishments and marginal pandemic-related expenses.

DMCI Homes, Inc. reported an increased net income of 127% to P4.4 billion, reaching a higher revenue from its successful construction projects despite the COVID-19 pandemic outcomes. More recently, this year, DMCI Homes is working on upscale projects like Fortis Residence in Makati City and Satori Residences in Santolan, Pasig City.

In recognition of its most recent achievements, DMCI Holdings is listed as one of the outstanding Philippine firms in Asiamoney 2022 Asia’s Outstanding Companies Poll. The recognition was based on the corporation’s financial performance, management team excellence, investor relations, and corporate social responsibility initiatives.

“We are honored to receive these recognitions because they reflect the hard work of our people and the strong support of our capital market stakeholders,” Mr. Consunji was quoted as saying in a statement responding to the recognition.

In its 27 years of service, DMCI Holdings has developed into a diverse engineering conglomerate that invests in different sectors that are significant to the growth of the country. — Angela Kiara S. Brillantes

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