Infra and utilities conglomerate Metro Pacific Investments Corp. (MPIC) intends to continue investing in infrastructure despite uncertainties and challenges posed by the war in the Middle East, laying the groundwork for more growth after sustaining record performance last year.

“The global environment remains uncertain, with ongoing geopolitical conflict in the Middle East and other external pressures affecting energy markets and investor sentiment,” said MPIC Chairman, President, and Chief Executive Officer (CEO) Manuel V. Pangilinan.

He noted that, “In times like this, our approach is to stay disciplined—manage our balance sheet carefully, focus on operational efficiency, and continue investing where the country needs infrastructure the most.”

Pangilinan added that, “If we stay focused on execution and on serving the needs of the communities that depend on us, we believe the group will remain resilient. At the end of the day, our businesses exist to serve the country. If we do that well—quietly and consistently—the results will follow.”

MPIC sustained its strong growth momentum in 2025, posting record high core net income for the fourth consecutive year from 2022 to 2025. Consolidated core net income increased 15 percent to ₱27.1 billion last year, compared with ₱23.6 billion in 2024.

Improved financial and operational performance across MPIC’s portfolio drove a 13-percent increase in contribution from operations to ₱32.1 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 Health hospitals network.

“Our results in 2025 reflect the steady demand for reliable infrastructure and the consistent work of our teams across the group. Power, water, mobility, and healthcare are essential services, and our focus has always been on improving how we deliver them to the communities we serve,” said Pangilinan.

Among MPIC’s core businesses, power continued to contribute the largest share at ₱22.1 billion, or 69 percent of net operating income (NOI). Water and toll roads contributed ₱7.2 billion and ₱6.1 billion, respectively, together totaling 42 percent of NOI.

Reported net income grew at a slower pace of five percent, as the prior year included a one-time gain from a subsidiary, tempering year-on-year comparisons despite strong underlying performance.

Meralco’s revenue increased six percent, reflecting higher pass-through charges, increased retail electricity sales, and improved power generation revenues from the reserve market, supported by enhanced plant availability.

Consolidated core net income grew 12 percent to ₱50.6 billion, supported by stronger contributions from both the power generation and distribution utility (DU) businesses.

Maynilad grew revenues nine percent to ₱36.6 billion, reflecting the impact of an eight-percent tariff increase implemented in early January 2025 and stable billed connections. Core net income rose 19 percent to ₱15.2 billion, driven by higher revenues and improved network efficiency.

Metro Pacific Tollways Corp. (MPTC) reported toll revenues grew 17 percent to ₱36.9 billion due to a combination of toll rate increases and traffic growth across its tollway network in the Philippines.

Core net income increased eight percent, benefiting from higher shareholding in NLEX Corp. and continued cost discipline, but reported net income declined four percent to ₱6.2 billion, as the prior year included the reversal of contingent considerations related to the Jakarta-Cikampek elevated toll road acquisition.