JG Summit Holdings Inc (JGS) reported a net loss of P87.9 billion in 2025 following a P114.3-billion impairment charge related to the discontinuation of its petrochemical operations.
The company’S board approved the write-down of assets for JG Summit Olefins Corporation, which manages a $2-billion manufacturing complex in Batangas.
JGS said it decided to exit the sector on persistent unfavorable global market conditions.
JG Summit president and chief executive Lance Gokongwei said the conglomerate has entered discussions with potential buyers for the mothballed facility.
While the impairment led to a heavy bottom-line loss, recurring net income from continuing operations rose 3 percent to P31.9 billion.
The growth was supported by robust consumer spending and increased demand for travel and leisure. However, net income from continuing operations fell 7 percent to P36.1 billion.
Consolidated revenues from ongoing businesses climbed 9 percent to P368.6 billion. The increase was led by double-digit growth in the airline and real estate divisions, as well as volume-led expansion in the food and beverage segment.
These gains helped the group mitigate the impact of high coffee costs and increased interest expenses at the parent level.
“Our 2025 performance reflects the resilience of our portfolio, supported by sustained consumer demand and continued strength in our leisure-related businesses,” Gokongwei said.
Looking toward 2026, the company plans to prioritize cash flow protection and operational efficiency amid global economic uncertainty.
“As we look ahead to 2026 amid heightened global uncertainty, we are taking a prudent and disciplined approach—prioritizing cash flow protection, balance sheet strength, and operational efficiency,” Gokongwei said.
He said the group remains focused on long-term value creation through a transformation of the parent company and refined investment guardrails for its business units.
