Pangilinan-led Metro Pacific Investments Corp. (MPIC) sustained its strong growth momentum in the first nine months of 2025, with consolidated core net income rising 14 percent to ₱23.6 billion from ₱20.8 billion for the same period last year.

The firm said improved financial and operational performance across its portfolio drove a 12-percent increase in contribution from operations to ₱27.2 billion.

This was fueled by robust growth in Manila Electric Co.’s (Meralco) power generation business, the implementation of higher tariffs at Maynilad Water Services Inc., and rising patient volumes across the Metro Pacific Hospitals network.

Among MPIC’s core businesses, power continued to contribute the largest share at ₱17.6 billion or 65 percent of net operating income (NOI). In comparison, water and toll roads contributed ₱5.8 billion and ₱4.4 billion, respectively, together totaling 37 percent of NOI.

Reported income posted slower growth at seven percent, as the prior year included a one-time gain from a subsidiary, thereby tempering year-on-year results despite strong underlying performance.

Meralco’s consolidated core net income grew 14 percent to ₱40 billion, supported by stronger contributions from both the power generation and distribution utility (DU) businesses.

Maynilad’s core net income rose 18 percent to ₱11.4 billion, driven by higher revenues and slower growth in operating expenses (opex).

Metro Pacific Tollways Corp.’s (MPTC) core net income was lower by two percent at ₱4.8 billion, weighed down by higher financing costs related to the JTT acquisition in Indonesia and end of interest capitalization as new toll roads commenced operations.

Toll revenues rose 17 percent to ₱27 billion due to a combination of toll rate increases and traffic growth in the Philippines.

“Our performance in the first nine months of the year underscores the resilience of our core businesses,” said MPIC Chairman, President, and Chief Executive Officer (CEO) Manuel V. Pangilinan.

He added that, “power and water continued to post strong results, while toll roads managed near-term challenges stemming from higher financing costs and are expected to regain momentum as the newer roads mature.

“The listing of Maynilad presents an opportunity to unlock greater value and reinvest in improving water supply and access. As we move forward, we remain committed to creating long-term value across our portfolio—particularly in areas critical to national progress such as energy, water, and food security.”