Inflation to hit DMCI Holdings’ growth prospects in construction

DMCI Holdings (DMC) posted a record core net profit in 9M2022.

The Philippine-based DMCI Holdings’ near-term growth prospects may be hindered by inflationary pressures and rising interest rates, particularly in the construction and property sectors, CGS-CIMB said.

In a report, the broker said earnings in the fourth quarter of 2022 are expected to be driven by elevated coal benchmark prices, and there may be further earnings improvement from other business units as the economy reopens.

DMCI Holdings (DMC) posted a record core net profit in the first nine months of 2022, largely due to a significant increase in earnings contribution from Semirara (SCC).

SCC's core net profit contribution rose from 48% of total core net profit in the same period in 2021 to 74% in 9M22.

Risks to the company’s business outlook include price corrections in the coal and nickel markets, plant outages, slow rollout of construction projects and property launches, weather disturbances, and regulatory changes.

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