Filinvest posts record income in 2024

MANILA, Philippines — Earnings of the Gotianun family’s Filinvest Development Corp. (FDC) soared to a record high level last year following a double-digit improvement across all business segments.

FDC booked a net income attributable to equity holders of the parent company of P12.1 billion in 2024, 36 percent higher than the P8.9 billion posted in the previous year.

Consolidated net income, on the other hand, climbed by 29 percent year-on-year to P15.7 billion.

FDC said the higher profit for the year was fueled by a 22-percent jump in total revenues and other income to P113.4 billion from P92.8 billion in 2023.

FDC president and CEO Rhoda Huang said that 2024 was by far the strongest year for the group.

“As we celebrate our 70th anniversary, this record performance anchors our growth plans and gives us confidence in our continued growth in the years ahead. It is a testament to our ability to adapt to changes over the decades and take advantage of opportunities when they arise,” Huang said.

From a small financing business, which started in 1955, FDC has since expanded into diverse industries and has remained committed to its purpose of enabling Filipinos to achieve their dreams.

In 2024, the company’s banking and financial services delivered a net income contribution to the group of P5.8 billion, equivalent to 39 percent of FDC’s bottom line.

The power subsidiary contributed P4.3 billion in net income or 29 percent of total, while the property business, composed of the real estate and hospitality segments, delivered a combined P4.1 billion or 27 percent of total.