DoubleDragon Corporation (the “Company” or “DoubleDragon”) reports Consolidated Net Income +10.83% to ₱520.09 Million for the quarter ending March 31, 2023 as compared to the same period the prior year. Consolidated Revenues +0.06% at ₱1.72 Billion for the quarter ending March 31, 2023 as compared to the same period the prior year.

Total Assets +3.26% in the first three months of the year to ₱161.91 Billion as of March 31, 2023. Total Equity +0.44% in the first three months of the year to ₱81.96 Billion as of March 31, 2023. DoubleDragon’s net Debt-to-Equity ratio stood at a low 0.64x as of March 31, 2022. The Company’s unutilized Debt Capacity stood at ₱129.10 Billion as of March 31, 2022.

“Indeed the series of economic crises which we have had to experience in the last three years have affected businesses around the world and continue to linger up to now. But despite that, our team has worked doubly hard to put the DoubleDragon Group on stable footing, with strong cash position as of March 31, 2023 at ₱9.03 Billion.

DoubleDragon continues to strengthen its position in preparation for the upcoming shift of tide to a fresh new cycle of economic boom years that should naturally follow after a major economic crisis.

We believe that companies who demonstrate that they are able to navigate very well the series of major economic crises, such as what we have all experienced, will be in a unique position to capture the extraordinary opportunities that will present itself after all the chaos and once the fire has cleared and the smoke has settled,” said DoubleDragon Corporation Chairman Edgar “Injap” Sia II.