ACEN Corp. on Tuesday said that consolidated net income in the first half had surged to P3.90 billion from P763.04 million a year earlier, led by higher output across its markets, retail business expansion, and an increase in contracted energy volumes.
In a disclosure, the listed energy platform of the Ayala Group said the record net income was also achieved following recognition of several material one-off items and lower Vietnam-related provisions during the period.
Revenues from the sale of electricity jumped to P22.51 billion from P15.29 billion in the first, supported by the continued expansion of the retail electricity supply business.
"ACEN's performance in the first half of 2026 underscores our recovery from the challenges of the previous year while reflecting the company's transition into a phase of measured growth,” President and CEO Eric Francia said.
“Amid a continually uncertain environment, our priorities remain clear, which is protecting our balance sheet, growing our contracted energy sales, and expanding our energy storage asset base," he said.
Attributable generation from its renewable energy portfolio grew 21 percent to 4,024 gigawatt-hours (GWh), driven by contributions from newly operational assets.
ACEN said its attributable renewables portfolio stood at 7,517 megawatts (MW) as of end-June, with its local RE portfolio generating 1,091 GWh, up 17 percent year on year and backed by improved performance of its Pagudpud and Capa 2 wind assets in Ilocos Norte.
For the international segment, ACEN Australia delivered 862 GWh, 56 percent higher from the previous year amid full operational contributions from Stubbo Solar and reduced grid curtailment at New England Solar 1.
In India, attributable output remained stable at 476 GWh, reflecting contributions from the commissioning of the 153-MW Maharashtra hybrid project.
ACEN’s Mekong operations delivered 996 GWh of attributable output, up 19 percent from a year ago, while output from the remainder of its international market reached a combined 196 GWh, an increase of 69 percent.
"The growing global emphasis on indigenous renewable energy presents significant opportunities for us," CFO and Chief Strategy Officer Jonathan Back said.
"We intend to benefit from this growth while maintaining a prudent, financially disciplined path forward, including continued focus on cost management across all our businesses."
ACEN ended the first half with total assets of P395.0 billion, up 9 percent from year-end 2025, with a cash position of P20.2 billion.
“As funding continued to be deployed to projects under construction, statutory net debt rose to P168.4 billion, resulting in a net debt to equity ratio of 1.03, up from 0.90 at the end of last year,” the company said.
ACEN shares on Tuesday declined by P0.06, or 1.97 percent, to close at P2.99 per share.
