Power and water utilities propelled a 17 percent growth in Metro Pacific Investments Corporation’s first quarter core net income to ₱6.6 billion in 2025 from ₱5.6 billion in 2024.
Energy, water units power MPIC's Q1 earnings growth
Published May 7, 2025 06:08 pm
The firm said that, “Improved financial and operational performance across MPIC’s portfolio led to a 16percent rise in contribution from operations to ₱7.9 billion, driven primarily by the strong growth in power generation at Meralco, higher tariffs at Maynilad, and growing patient volumes at Metro Pacific Hospitals.
Among the Company’s core businesses, Power still contributed the largest share at ₱4.9 billion or 62 percent of Net Operating Income (NOI). In comparison, Water and Toll Roads contributed ₱1.9 billion and ₱1.4 billion, respectively, representing 42 percent of NOI.
Reported net income surged 48 percent to ₱9.1 billion from ₱6.1 billion, driven by a gain from the sale of MPIC’s oil storage company, Philippine Coastal Storage and Pipeline Corporation.
Manila Electric Company posted an 11 percent hike in consolidated core net income to ₱11.2 billion, driven by higher contributions from power generation and the distribution utility while reported net income improved by 9% to ₱10.4 billion.
Maynilad Water Services Inc. reported that its core net income rose 17 percent to ₱3.6 billion, driven by lower operating expenses and higher interest income.
Metro Pacific Tollways Corporation’s core net income posted a slight decline, primarily due to increased interest expenses on borrowings to help finance the PT Jasamarga Transjawa Tol acquisition and ongoing capital expenditures.
Reported net income declined 15 percent to ₱1.5 billion, as the prior year benefited from the reversal of contingent considerations related to the Japex acquisition.
“We are pleased with our strong start to 2025, marked by solid performance across our core businesses and improved earnings momentum. These results reflect the steady execution of our strategy and the strength of our foothold in power, water, toll roads, and healthcare,” said MPIC Chairman, President, and CEO Manuel V. Pangilinan.
He added that, “Looking ahead, we remain focused on sustaining this growth trajectory. We are accelerating investments in power generation and expanding our presence in agribusiness—both critical to supporting national development and ensuring long-term value creation.’