“The steady increase in the levels of loans and securities
has increased the earning capacity of the Bank to almost
back to pre-pandemic levels.”
EastWest Bank
delivered a net income contribution to FDC of P4.4 billion
in 2022, higher than the P4.3 billion the previous year. Net
income surged by 42 percent excluding the one-time gain from
the sale of its hold-to-collect investments in 2021.
“One of Filinvest’s key engines of growth is its extensive
residential land bank of almost 1,900 hectares and
commercial land bank of 574 hectares.”
FDC’s
real estate business contributed P4.9 billion in net income
before tax to the group in 2022. Revenues from the
residential segment rose by 11 percent to P13.3 billion due
to accelerated construction progress. Reservation sales grew
by 13 percent to P18.0 billion as new projects were
launched. Revenues from malls and office rental improved by
15 percent to P6.7 billion. FLI launched seven new
residential projects in 2022, valued at P5.9 billion.
“FDC is also focusing on expanding and diversifying the
portfolio to strengthen the renewable energy offerings.”
FDCUI
contributed P2.2 billion to FDC’s net income in 2022,
growing by 6 percent from the previous year. The net income
growth was driven by the rise in revenues by 37 percent to
P12.9 billion on account of higher pass-through cost of
fuel.
New wins in 2022 include the 3.4-MW biomass
contract under the government’s Green Energy Auction
Program, in close coordination with the Cotabato sugar
plant.
“FDC remains committed to help build the tourism sector
driven by the belief that the Philippines has so much to
offer in natural beauty, experiences and hospitality.”
Hotel
operations saw a rebound in revenues of 60 percent to P1.9
billion in 2022 buoyed by the steady resurgence of tourism.
Average room rates increased across all the properties while
occupancy rates were higher for Crimson Boracay as well as
Quest in Cebu and Tagaytay.
“Our vision is to transform Clark Airport City - a complete
urban destination where people can work, eat, shop and stay
within a five-minute distance from the airport.”
FDC’s
ownership interest in LIPAD is 42.5 percent while the other
consortium members are JG Summit Holdings Inc., Philippine
Airport Ground Support Solutions Inc. and Changi Airports
Philippines (I) Pte. Ltd., a wholly owned subsidiary of
Changi Airports International. Together with FDC’s vast
experience in property development, the consortium members
bring their expertise in air transportation and airport
operations.
