Q1 order book at P27B, down 10% yr-on-yr
DM Consunji, Inc. (DMCI), the construction arm of DMCI Holdings, Inc., said on Tuesday it was awarded P9.5 billion worth of projects on infrastructure, energy, buildings, utilities and plants for the first quarter of 2017, bringing its total order book to P27 billion, down 10 percent from a year earlier.
In a disclosure to the Philippine Stock Exchange (PSE), DMCI said among its newly-signed projects are the Cavite-Laguna Expressway project of MPCALA Holdings, Inc., the Bued Viaduct and Roadway project of Private Infra Dev Corporation, the LRT 2 East (Masinag) stations under the Department of Transportation (DoTr), and the thermal power plant of JGC Philippines.
“We foresee modest growth this year, which will come mostly from building and infrastructure contracts,” DMCI President Jorge Consunji said.
“The real game-changer would be the rollout of infrastructure projects by the government. If these projects push through as scheduled, then Filipino contractors stand to gain from the construction activities,” he added.
It said among its major ongoing projects are Sections 1 and 2 of the Metro Manila Skyway Stage 3 project of Citra Central Expressway Corporation, Citygate’s mixed-use development in Makati, The Royalton and Imperium luxury condominiums of Ortigas & Co., The Areté of Ateneo de Manila University and NCCC Mall of LTS Malls, Inc.
Three major infrastructure projects— the NAIA Expressway, LRT 2 East (Masinag) Viaduct and The Runway connecting NAIA Terminal 3 to Resorts World Manila—were all substantially completed in 2016, DMCI said.
On a stand-alone basis, DMCI recorded a net income P259 million for the first three months of 2017, up 19 percent from P219 million in the same quarter last year.
Last week, its parent company DMCI Holdings reported net profit of P3.7 billion the first quarter, up 22 percent from the previous year, backed by the strong performance of its 56-percent owned subsidiary Semirara Mining and Power Corp. (SMPC).
Core net income rose 26 percent, excluding a one-time gain of P111 million in 2016 for the partial sale of its stake in Subic Water.
DMCI Holdings holds the Consunjis’ businesses and investments in construction (DM Consunji), power and mining (DMCI Power Inc., Semirara Mining and Power Corp., DMCI Mining), property development (DMCI Homes, DMCI Project Developers Inc.), and water utilities (Maynilad Water Services Inc.)