House of Investments 2024 profit up to P2.68B
May 5, 2025
HOUSE of Investments Inc. reported a net income of P2.68 billion in 2024, more than four-fold its 2023 earnings of P615.60 million.
This was attributed to the full-year contribution of subsidiaries acquired in December 2023, particularly in the financial services sector.
In a quarterly report filed last Friday, the company noted that “the parent company reported a significant improvement in financial performance, reflecting the first full recognition of operational results from subsidiaries acquired in December 2023.”
New businesses “contributed materially to both revenue and net income growth and now serve as the primary drivers of the Company’s consolidated results.”
Consolidated revenues surged by 225 percent to P36.10 billion from P11.09 billion.
“The improvement was driven primarily by the financial services sector, which contributed P1.77 billion in net income,” the company said. The rest of the growth was “largely attributable to the education sector.”
Revenues from the leasing business improved by 11 percent while vehicle sales rose by 8 percent.
The education segment also performed well, posting an 18-percent increase due to “higher enrollment and discontinuation of discounts offered during the pandemic period.”
Consolidated cost of sales and services, and general and administrative expenses were attributed to new subsidiaries, with minimal increase from existing operations.
Other factors affected the bottom line, including a dip in equity earnings from associates, which fell to P81.48 million from P116.72 million due to a remeasurement loss by the energy sector, noting that this was due “to the direct acquisition of 20% interest of EEI Power Corp. in PetroWind Energy Inc.”
“The Group continues to maintain a strong capital base to support its ongoing operations and future expansion initiatives,” it concluded.
House of Investments’ share priced rose by 7 centavos to P3.49 apiece last Friday.