DMCI Homes posted a P2.8 billion net income in 2024, a 31 percent decline from P4 billion in 2023, as slower sales and fewer project launches impacted revenue.
Core net income dropped 35 percent to P2.5 billion, excluding one-time land sales. “2024 was a challenging year, but we strengthened our financial position and prepared for future launches,” said DMCI Homes president Alfredo R. Austria.
Residential demand remained weak, leading to a 22 percent drop in unit sales, though average selling prices rose by 18 percent. DMCI Homes completed 11 buildings, increasing ready-for-occupancy inventory, with 22 percent leased through its Rent-to-Own program.
As of Dec. 31, 2024, the company reported P9.7 billion in cash and cash equivalents, with an improved 73 percent net gearing ratio. Total assets reached P96.8 billion, while total equity grew four percent to P34.7 billion.
Looking ahead, DMCI Homes has seven upcoming projects worth P35 billion and plans to expand flexible payment options and Rent-to-Own offerings to boost sales and leasing. / KOC