DMCI HOLDINGS, Inc. executives said capital expenditures (capex) will remain unchanged despite higher oil prices linked to the Middle East conflict, although the corporate may review operating costs and project timelines.
“I believe the committed capex will just keep going, no change in plans,” Isidro Consunji, DMCI Holdings chairman and chief executive officer, said during a briefing on Tuesday.
DMCI earlier said it could increase its capex budget for its subsidiaries to P24.6 billion this 12 months, up 11% from P22.2 billion in 2025, to support residential construction, expand off-grid power capability, and upgrade cement operations.
DMCI Holdings Executive Vice-President and Chief Financial Officer Herbert Consunji, who also serves as president and chief executive officer of Concreat Holdings Philippines, said the capex budget has already been finalized and can be implemented as planned.
“[But] after all, the operating costs will now be revisited because the worth is different now,” he said, speaking for Concreat Holdings.
“It’s not only a matter of price, it’s a matter of availability. You’ll have money to purchase it, but it surely’s not available because other suppliers have downgraded,” Mr. Consunji added.
He said that as costs are reviewed, funding plans will even be reassessed. “All the pieces can be reset — parang ganon. But we’ll never know what’s going to occur.”
DMCI allocated P2.9 billion for Concreat Holdings Philippines this 12 months for plant capability improvements, operational upgrades, and preventive maintenance.
In 2025, Concreat Holdings Philippines posted a net lack of P1.9 billion because of higher financing expenses and lower average selling prices, although the corporate has implemented operational improvements to support recovery.
Meanwhile, DMCI Homes President Alfredo R. Austria said some project launches could also be delayed if current challenges persist.
“There can be a possible delay on the launches. Only the launch of the brand new projects is perhaps delayed. But for existing projects, we now have to push through since it’s already committed,” he said.
For 2026, DMCI Holdings will allocate P15.5 billion, or 65% of its capex, to its property arm DMCI Project Developers, Inc. (DMCI Homes).
DMCI Homes’ capex budget this 12 months will fund ongoing and latest project construction for 4 residential developments in Baguio, Laguna, Quezon City, and Taguig, covering premium, leisure, and mid-market segments, in addition to land banking, depending on market conditions.
Cristina Gotianun, DMCI Holdings vice-chairman and Semirara Mining and Power Corp. president, said the corporate has implemented fuel-saving programs on the Semirara power plant, particularly during startup.
“So we’re positioned thoroughly to cut back our fuel, in addition to on the mine site. We’ve at all times had this, because fuel is the only biggest cost of our operations. So we’ve at all times been very cautious and diligently putting all of the programs in place to conserve fuel,” she said.
DMCI allocated P1.9 billion for Semirara Mining and Power Corp. this 12 months, mainly for power plant maintenance. Last 12 months, Semirara Mining and Power Corp. remained the group’s largest contributor with P7.3 billion, down 33% from P11.1 billion, because of softer energy prices, reduced shipments, and better production costs.
Record coal production, power generation, and energy sales helped offset the impact of price normalization.
For 2026, DMCI has also earmarked about P3.3 billion for DMCI Power to fund 44 megawatts (MW) of latest capability in Palawan, Occidental Mindoro, and Calapan; P675 million for DMCI to re-fleet construction equipment and meet project requirements; and P300 million for DMCI Mining Corp.’s mine development initiatives.
On Tuesday, DMC shares rose by 1.05% to shut at P9.60 each. — Alexandria Grace C. Magno