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Manila Bulletin devider Business devider The Stock Market devider Higher demand, associate earnings drive MacroAsia's 15% income growth

Higher demand, associate earnings drive MacroAsia's 15% income growth

Published Aug 12, 2025 05:41 pm
The Lucio Tan Group’s MacroAsia Corp., a leading provider of aviation support services, reported a 15 percent growth in consolidated net income to ₱771.10 million in the first half of 2025 from ₱669.78 million excluding one-off revenue items in the same period last year.
The firm disclosed to the Philippine Stock Exchange that, including one-time gains in 2024, its ₱777.10 million profit for the first half of 2025 is eight percent lower than the ₱849.10 million earned in the same period last year.
“Our operations continue to deliver strong results, supported by sustained growth across aviation, food, and water segments, as well as higher earnings from associates,” said MacroAsia President and COO Eduardo T. Luy.
Consolidated revenues climbed nine percent to ₱4.81 billion in the first half of 2025, driven by higher demand across aviation services, institutional food accounts, and water concessions.
Second quarter revenues reached ₱2.46 billion, reflecting the company’s expansion beyond its traditional aviation base.
Share in net earnings from associates surged 75 percent to ₱611.0 million from ₱349.7 million in the prior year, led by Lufthansa Technik Philippines (LTP) with a first-half net income of ₱1.10 billion, with MacroAsia’s 49 percent share amounting to ₱537.8 million.
MacroAsia’s stake in Japan Airport Service Co., Ltd. yielded a net income share of ₱52.6 million, while Cebu Pacific Catering Services contributed ₱20.7 million in net income share to the company.
Revenues from water operations rose seven percent to ₱364.0 million, with non-aviation businesses contributing 23 percent of group revenues, supported by growth in institutional food service accounts and water concessions.
“MacroAsia enters the second half of 2025 with a strong balance sheet and diversified revenue base, supported by the anticipated growth in passenger volumes following NAIA privatization in September 2024, despite higher MIAA lease and fee structures,” the firm said.
It noted though that, “Ongoing negotiations for the renewal of MacroAsia’s PEZA ecozone lease in NAIA where LTP is a locator, which will likely result into higher rental costs for the ecozone and LTP.”
Meanwhile, the firm said the it will continue the expansion of its non-airline food services and water concessions for revenue resiliency.:
MacroAsia will more than double its commissary capacity with the ongoing facility construction in Muntinlupa which will be completed by 2027 through the SATS (Singapore) joint venture, positioning further growth in the food business for institutional clients outside of the airport.
It will also develop of major water projects in Bacolod, Poro Point (La Union), and one of the country’s largest desalination plants in Lapu-Lapu City, expected to start contributing revenues by late 2026.

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