DEL ROSARIO-LED conglomerate PHINMA Corp. is allocating P3.8 billion for capital expenditure (capex) this year, lower than the P4.5 billion set in 2024, as it expects continued growth in its education and property businesses.
“The PHINMA Group has set a capex of P3.8 billion for 2025 to better support its business initiatives to uplift underserved families and communities,” PHINMA Chairman and Chief Executive Officer Ramon R. del Rosario, Jr. said in a statement on Tuesday.
“We are optimistic for sustained growth with the expected higher enrollment for education, the accelerated implementation and completion of PHINMA Property Holdings Corp.’s (PHINMA Properties) projects, the strategic launch of our community housing business unit, and the continued implementation of our growth initiatives,” he added.
PHINMA Chief Financial Officer EJ A. Qua Hiansen said in a Viber message that P3.1 billion will be allocated to PHINMA Education, while P460 million will be allotted to PHINMA Properties.
He added that the remaining capex will be allocated to PHINMA’s other business units and to fund potential business initiatives.
For the first quarter, PHINMA recorded a 27% increase in consolidated net income to P562.62 million, led by improved sales across its business units. Attributable net income for the period stood at P191.27 million.
January-to-March consolidated revenue rose by 21% to P6.6 billion from P5.45 billion in the same period last year.
“The first-quarter results demonstrate the effectiveness of PHINMA’s strategic direction and the benefits of a diversified portfolio, with revenues increasing by 21% and net income growing by 27%. Our strong balance sheet and commitment to operational excellence position us favorably to seize opportunities and provide innovative solutions,” Mr. Hiansen said.
PHINMA Education posted P907.35 million in net income and P2.1 billion in revenue. Second-semester enrollment for school year 2024-2025 grew by 5% to 137,498 students, while the retention rate reached 89%.
The conglomerate’s Construction Materials Group (CMG) recorded a net loss of P69.71 million due to higher operational costs and interest expenses to support sales volume growth and future expansion. Revenue reached P3.87 billion, driven by higher sales volumes and efforts to expand market share.
To boost margins, PHINMA CMG continues to optimize its facilities while negotiating better terms with suppliers.
PHINMA Properties reported a P100.61-million net loss and P411.96 million in revenue during the period. The company’s performance reflected new sales and carryover sales from last year. Unbooked revenues from these developments will be recognized as construction progresses.
The hospitality segment, led by Coral Way City Hotel Corp., PHINMA Hospitality, Inc., and PHINMA Microtel Hotels, Inc., posted combined revenues of P136.34 million and a combined net income of P5.23 million for the quarter.
The business sustained chain-wide occupancy and higher average room rates. Hotel and venue bookings were mainly from the leisure, corporate, and events segments.
PHINMA shares were last traded on May 9, closing unchanged at P18.90 apiece. — Revin Mikhael D. Ochave
