Citicore Energy REIT Corp. (CREIT), the first renewable energy real estate investment trust in the country, reported steady net income for 2025 as its portfolio of solar power land maintained full occupancy and yielded payouts that exceeded regulatory requirements.

In a filing with the Philippine Stock Exchange on Thursday, March 26, CREIT said it posted net income of ₱1.85 billion for the full year, supported by consistent lease income from property assets used by solar power plants that are either currently operating or under commissioning.

Revenue remained stable at ₱1.88 billion, while earnings before interest, taxes, depreciation, and amortization reached ₱1.43 billion.

The company’s revenue stream is primarily driven by guaranteed base leases, which totaled ₱1.67 billion in 2025. It also recorded variable lease revenue of ₱50.29 million.

Under its current structure, Citicore Energy REIT, known as CREIT, captures 50 percent of the incremental gross revenue earned by its lessees whenever performance exceeds agreed-upon base levels.

Oliver Tan, CREIT president and chief executive officer, said the company’s performance underscores a business model anchored on essential infrastructure, which he argued provides a buffer against the market volatility often seen in traditional commercial or office REITs.

The firm's portfolio currently spans 7.1 million square meters of gross leasable area, supporting the initial phases of its sponsor Citicore Renewable Energy Corp.’s goal to reach five gigawatts of capacity within five years.

The company maintained a 100 percent occupancy rate across its assets throughout the year. With a weighted average lease expiry of 19.44 years, the firm is positioning itself as a long-term yield play within the Philippine energy sector.

The 2025 performance allowed CREIT to declare an annual dividend of ₱0.203 per share, representing a 6.3 percent dividend yield based on its March 24, 2026, closing price of ₱3.22.

For the fourth consecutive year, CREIT distributed 106 percent of its distributable income to shareholders. This payout ratio remains significantly higher than the 90 percent minimum mandated by the Philippines' REIT Law.

The company’s credit profile also remained robust, with Philippine Rating Services Corp. maintaining its PRS Aa+ (corp.) issuer rating and a stable outlook. Its ASEAN Green Bonds similarly retained their PRS Aa+ rating, reflecting the company’s perceived capacity to meet financial commitments.