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Manila Bulletin devider Business devider The Stock Market devider CREIT keeps profit steady as long-term leases support earnings

CREIT keeps profit steady as long-term leases support earnings

Published Aug 17, 2026 12:00 am  |  Updated Aug 15, 2026 04:13 pm

Citicore Energy REIT Corp. (CREIT), the Philippines’ first renewable energy (RE) real estate investment trust (REIT), reported that its net income was relatively steady at ₱686 million in the first half of 2026 compared with ₱688 million in the same period last year.

In a disclosure to the Philippine Stock Exchange (PSE) last week, CREIT said gross revenues were also stable at ₱916 million for the first half of the year, supported by built-in lease escalations across its solar land portfolio, which helped sustain strong, high-margin earnings.

“Our first-half performance highlights the resilience of our portfolio, anchored on stability, consistency, and long-term value creation,” said CREIT President and Chief Executive Officer (CEO) Oliver Y. Tan.

He noted, “Because our underlying assets contribute to the essential backbone of the nation’s energy transition, we are uniquely insulated from market volatility compared to traditional REITs, allowing us to deliver reliable, sustainable returns to our shareholders.”

Reflecting its continued earnings performance, CREIT’s board of directors declared a cash dividend of ₱0.049 per share for the second quarter of 2026 on Aug. 11, 2026.

Based on its June 30, 2026, closing price of ₱3.50 per share, this represents an attractive annualized yield of 5.6 percent. The dividend will be payable on Oct. 7, 2026, to stockholders of record as of Sept. 11, 2026.

CREIT’s outlook is further strengthened by the continued expansion of its sponsor, Citicore Renewable Energy Corp. (CREC), which achieved a major milestone in 2026 by reaching its first gigawatt (GW) of installed capacity.

As CREC accelerates toward its ambitious target of five GW in five years, CREIT stands directly in line to capture value from upcoming and potential additional pipeline asset infusions.

Backed by 100-percent portfolio occupancy and an industry-leading weighted average lease expiry (WALE) of 19 years, CREIT continues to provide a durable foundation for recurring income.

As CREC scales its RE platform, CREIT can build on this track record to create lasting value for shareholders. - James A. Loyola

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Citicore Energy REIT Corporation Oliver Y. Tan
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