The core net earnings of Alcantara-led firm Alsons Consolidated Resources Inc. (ACR) had been 29-percent higher to P871.16 million in January to June this year versus last year’s P672.97 million.
In the second quarter alone, the company specified that its financial outcome also improved with P492.39 million net earnings from year ago’s P362.49 million.
Given the Alcantara firm’s scale of profitability within the period, it declared that the net income attributable to its parent firm likewise climbed to P267.06 million, roughly double from last year’s P133.34 million; with the second quarter earnings turning in P174.18 million.
On the sphere of revenues, the company stated that this similarly inched up to P4.63 billion within January-June span this year from P4.40 billion in the same period in 2020.
Within the second quarter, revenues had likewise been heftier at P2.47 billion from P2.19 billion in the comparative financial review timeframe last year.
Alsons indicated that its two-unit Sarangani coal-fired plant with 210-megawatt capacity remained as its key revenue and income-driver in this year’s first semester.
That plant has been supplying electricity to key cities and municipalities in the Mindanao grid – including those in Sarangani province; General Santos; Cagayan de Oro, Iligan, Dipolog, Dapitan, Pagadian, Samal, Tagum, Kidapawan and Butuan.
And while reaping financial gain from its completed projects, Alsons reiterated its commitment to pursue succeeding pipelined projects – including the proposed 105MW San Ramon coal-fired power project in Zamboanga City; and the array of run-of-river hydropower projects that it has been advancing to commercial development phases.
The earliest capacity addition that it can integrate into its current portfolio of power generation assets will be its 14.5-megawatt Siguil hydropower facility that is eyed on commercial stream next year.
That venture commanded capital spend of P4.5 billion; and it will also serve as the Alcantara group’s investment jump-off point to renewables.
“For the long-term, the company is slated to focus on renewables with seven more hydroelectric plants in various stages of development,” the company said, adding that the next two projects will be the 22MW Siayan hydro in Zamboanga del Norte; and the 42MW Bago hydro in Negros Occidental.
Presently, Alsons has aggregate capacity of 468MW under its power generation business segment; and that is seen rising to more than 650MW when blueprinted projects will already be completed and set on commercial operations.