DMCI raises capex to P70B for Maynilad, others
DMCI Holdings, Inc. has increased its capital expenditure (capex) budget for 2025 by 45% to P70 billion from P48.3 billion in 2024.
The majority of the capex will be allocated to Maynilad Water Services, Inc., with a budget of P41 billion, up from P25.7 billion last year.
DMCI Holdings' CFO, Herbert M. Consunji, disclosed this information during SharePhil's general membership meeting on Wednesday.
The additional funds for Maynilad are primarily to expand sewerage services and develop new water sources.
Other allocations include P17.9 billion for DMCI Homes, Inc., P6.4 billion for Semirara Mining and Power Corp., and smaller amounts for other subsidiaries.
Despite the higher capex budget, DMCI Holdings reported a 21.5% decline in core net income to P18.78 billion in 2024 from P23.93 billion in 2023 due to weaker performance across several business units.
This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.
Topics in this story
Explore more stories about these topics