ABOITIZ Power Corp. (AboitizPower), the power distribution, generation and retail electricity services arm of Aboitiz Equity Ventures (AEV), said net income in the first nine months grew 13 percent to P26.2 billion from P23.3 billion a year earlier, driven by higher margins in its generation segment.
Net income in the third quarter, however, declined 26 percent to P7.8 billion from P10.6 billion in the same quarter last year and was also lower than the P10.5 billion profit recorded in the preceding quarter.
AboitizPower said beneficial earnings before interest and taxes, depreciation, and amortization (Ebitda) in the first nine months rose 13 percent to P63.7 billion from P56.3 billion previously, thanks to stronger energy market prices, higher contracted capacity, and additional capacity from the Caliraya-Botocan-Kalayaan hydroelectric power plant complex.
The delivery of new solar power plants, which more than offset lower coal plant availability during the period, also helped boost Ebitda in the period, it said.
However, beneficial Ebitda in the third quarter dropped eight percent year on year to P20.4 billion from P22.2 billion and was also down 11 percent from P23.0 billion in the second quarter of 2026, largely due to lower coal plant availability.
Core net income grew 11 percent to P25.5 billion in the first nine months from P23.1 billion last year, while total energy sold during the period increased nine percent to 35,105 gigawatt-hours (GWh).
The distribution segment delivered a steady performance, with Ebitda edging up one percent to P7.1 billion in the first nine months from P7.0 billion last year.
Distribution sales volume expanded by eight percent to 5,576 GWh from 5,167 GWh in 2025, driven by higher overall demand.
As of end-September 2026, AboitizPower said total consolidated assets stood at P647.8 billion, a four percent increase from P622.8 billion as of end-December 2025.
Total cash and cash equivalents reached P60.2 billion, while consolidated interest-bearing liabilities totaled P331.2 billion, bringing equity attributable to holders of the parent to P216.0 billion. The company maintained a current ratio of 0.8x and a net debt-to-equity ratio of 1.2x.
AboitizPower shares on Thursday slipped P1.25, or 2.71 percent, to close at P44.80 each.
