FILINVEST Development Corp. (FDC) said it will focus on implementing strategic transformations across its various businesses to achieve an annual earnings growth of at least 20% over the next five years.
“We are driven to continue this trajectory to grow earnings by an average of at least 20% annually. We must push for transformation across the group to drive quality and attain faster earnings growth to achieve this target in the next five years,” FDC President and Chief Executive Officer Rhoda A. Huang said during the company’s virtual annual stockholders meeting last week.
“This means a healthy balance sheet of higher return on invested capital and revenue growth. We believe we are positioned well to achieve this,” she added.
She also said that FDC will optimize its portfolio to support businesses in areas such as capital allocation, business development, and initiatives to accelerate value creation.
“We will drive synergies and management systems. As a cohesive group, our portfolio companies can leverage on key platforms that will drive operational excellence and improve ways of working so that our businesses can focus on business building,” she said.
“We will future-proof talent and the organization toward diverse, high-performing, and highly engaged employees ready to achieve our goals and face future challenges,” she added.
The conglomerate has earmarked between P20 billion and P25 billion for its capital expenditure budget this year, of which 60% would go to real estate, 15% to renewable energy, 15% to hospitality, and 10% to other businesses.
The conglomerate has business interests in the real estate sector through Filinvest Land, Inc. and Filinvest Alabang. It is also in the power and hospitality sectors through FDC Utilities, Inc. and Filinvest Hospitality Corp., respectively.
The holding company is also engaged in the banking sector through the East West Banking Corp., as well as in the sugar and infrastructure segments.
FDC recorded a 58% increase in its attributable net income to P8.9 billion in 2023 from P5.7 billion the previous year, led by higher revenues across its business segments.
The conglomerate saw a 31% jump in its total revenues and other income to P92.8 billion last year from P71.1 billion in 2022.
FDC shares were last traded on April 26 at P5.70 per share. — Revin Mikhael D. Ochave
