Infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) saw its first quarter reported net income surge by 48 percent to P9.1 billion from P6.15 billion on the back of robust performance of power and water businesses.
First quarter performance was also boosted by a gain from the sale of MPIC’s oil storage company, Philippine Coastal Storage and Pipeline Corp.
Core net income, which excludes one-time gain, increased 17 percent to P6.6 billion versus P5.6 billion in 2024
Among the company’s core businesses, power still contributed the largest share at P4.9 billion or 62 percent of net operating income. Water and toll roads contributed P1.9 billion and P1.4 billion, respectively.
Operating revenues had increased by 9.5 percent to P19.28 billion.
“We are pleased with our strong start to 2025, marked by solid performance across our core businesses and improved earnings momentum. These results reflect the steady execution of our strategy and the strength of our foothold in power, water, toll roads, and healthcare,” said MPIC chairman, president, and chief executive Manuel Pangilinan.
Meralco’s consolidated core net income increased 11 percent to P11.2 billion during the period while revenues rose 10 percent to P114.5 billion.
Maynilad Water Services Inc. also saw a 17 percent increase in core net income to P3.6 billion while revenues went up 6 percent P8.6 billion, helped by an 8 percent increase tariff adjustment.
Metro Pacific Tollways Corp. (MPTC) posted a 16 percent rise in toll revenues to P8.7 billion, backed by toll hikes and traffic growth in the Philippines and Indonesia.
However, its reported net income declined 15 percent due to higher interest expenses and a one-time gain last year.
MPTC completed its P5.5 billion purchase of the remaining 55.4 percent stake in Egis Investment Partners Philippines, Inc. in March. The deal increased its ownership in NLEX Corporation from 78 percent to 83.8 percent.
“Looking ahead, we remain focused on sustaining this growth trajectory. We are accelerating investments in power generation and expanding our presence in agribusiness—both critical to supporting national development and ensuring long-term value creation,” Pangilinan said.
