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Manila Bulletin devider Business devider Trade & Industry devider Yuchengco's PetroEnergy posts ₱498-million profit as clean power boosts revenue

Yuchengco's PetroEnergy posts ₱498-million profit as clean power boosts revenue

Published Aug 14, 2026 03:53 pm
Yuchengco-led PetroEnergy Resources Corp. (PERC) posted a 7.3  percent increase in consolidated net income for the first half of the year, bolstered by expanding renewable energy capacity and higher crude oil revenues.
In a disclosure to the Philippine Stock Exchange on Friday, Aug. 14, PERC said consolidated net income rose to ₱498 million in the six months of the year from ₱464 million in the same period a year earlier.
The growth was driven by an 8.1 percent gain in consolidated revenues, which reached ₱2.16 billion compared with the prior-year period.
Electricity generation remained the primary engine of top-line growth. Electricity sales rose 11.8 percent to ₱1.78 billion as new clean energy assets joined the grid. Key project additions included extra wind turbines at the company’s Nabas-2 project, the second phase of the Limbauan Solar Power Project, and initial contributions from the Bugallon Solar Power Project.
The company's upstream segment also contributed positively to first-half performance. Higher global crude oil benchmarks lifted oil revenues by 23.3 percent to ₱303 million.
Operational momentum accelerated sharply in the second quarter. Consolidated net income for the April-to-June period surged 40.4 percent year-on-year to ₱257 million, propelled by robust quarterly revenues. Net income attributable to the parent company expanded 74.6 percent to ₱188 million for the quarter.
Higher earnings came despite mounting debt service costs tied to aggressive capital expenditure. Interest expenses climbed 17.8 percent to ₱355 million during the six-month period as PetroEnergy secured new borrowings for project development against a backdrop of elevated market interest rates. Meanwhile, cost of sales edged up 1.2 percent to ₱1.13 billion, helped by favorable crude oil inventory movements.
PetroEnergy’s balance sheet expanded alongside its operational footprint. Total consolidated assets grew 6.7 percent year-on-year to ₱25.76 billion as of June 30, underscoring ongoing capital investment in renewable power installations. Equity attributable to parent shareholders rose 3.9 percent to ₱8.64 billion, lifting book value per share to ₱15.20 from ₱14.63 a year earlier.
Management reiterated its strategy to pursue disciplined expansion across its clean energy and upstream portfolios, focusing on integrating wind, solar, and battery energy storage assets to drive long-term earnings growth. (Gabriell Christel Galang)

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PetroEnergy Resources Corp. (PERC)
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