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Manila Bulletin devider Business devider The Stock Market devider Asset impairment drags on Alsons bottom line despite 19% sales surge

Asset impairment drags on Alsons bottom line despite 19% sales surge

Published Mar 27, 2026 09:50 am
Alsons Consolidated Resources Inc., the publicly listed power arm of the Alcantara Group, reported a slight decline in full-year net income for last year as the company’s push into renewable energy was tempered by impairment losses from its fossil-fueled power plants.
In a statement, the energy producer said it posted a net income of ₱2.4 billion for the year ending Dec. 31, 2025, a marginal decrease from the ₱2.5 billion recorded in the previous year.
The company attributed the bottom-line performance primarily to the recognition of an impairment loss related to its traditional generating assets, a move that reflects the shifting valuation of fossil-fuel infrastructure amid a broader transition toward cleaner energy sources.
Despite the impact of the impairment, Alsons’ top-line performance showed significant momentum. Consolidated revenues surged 19 percent to ₱14.9 billion in 2025 from ₱12.544 billion in 2024.
Management credited the revenue expansion to a combination of factors, including robust sales from its Retail Electricity Supply business and increased trading volumes on the Wholesale Electricity Spot Market. The commencement of operations at its Bohol power facility also provided a crucial boost to the company’s generating capacity and overall billings.
On a purely organic basis, the earnings attributable to the parent company provided a brighter spot for shareholders. Net income attributable to the parent rose 10 percent to ₱800 million, compared with ₱722 million in 2024, signaling that the company’s core ownership interest remains resilient despite the non-cash charges taken on its broader asset portfolio.
The 2025 results come as Alsons aggressively pivots its long-term strategy toward renewable energy. The company is currently advancing the Southern Philippines Power Corp. solar project, which recently secured a capacity allocation under the Department of Energy’s Green Energy Auction Program.
Additionally, its Bawing Solar Power Project was granted a Green Lane Certification by the Board of Investments, a designation intended to bypass bureaucratic bottlenecks and accelerate the procurement of necessary permits.
“We are committed to delivering stable and reliable electricity to every Filipino,” Roberto P. Ramos, Alsons chief financial officer, said in the statement.
Ramos noted that the company is actively mitigating risks associated with geopolitical volatility and is exploring alternative sourcing strategies to ensure operational continuity.
The company’s green energy pipeline includes the 14.5-megawatt Siguil Hydro plant in Sarangani and a 37.8-megawatt hybrid solar and run-of-river hydro facility in Zamboanga del Norte. These projects form the backbone of the firm’s plan to balance its portfolio as it navigates the regulatory and economic complexities of the Philippine energy market. (Gabriell Christel Galang)

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Alsons Consolidated Resources Inc. (ACR) Renewable energy
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