ACEN Corp. on Tuesday said its attributable net income in the first quarter of this year rose to P2.92 billion from P1.95 billion of the same period of last year.
Revenues also climbed to P11.032 billion from P7.76 billion year on year.
The increase in attributable net income and revenues was said to have been driven by the impact of one-off transactions across the Philippines, India, and Vietnam, increased generation from both domestic and international operations, and the continued growth of its Philippine retail electricity business.
“While the first quarter of 2026 carried several one-time transactions, their net effect, together with the continued expansion of our renewables generation base further strengthens our financial foundation,” ACEN CFO and Chief Strategy Officer Jonathan Back said.
“Looking ahead, our priorities remain clear, which is maximizing output from operating assets, maintaining momentum across our construction pipeline, and managing costs with discipline,” he added.
ACEN President and CEO Eric Francia said that the current geopolitical crisis reinforced the company’s core belief that energy security and the transition to renewables are inseparable.
“Our capital program remains intact, our pipeline continues to advance and our focus on execution will help ensure delivery of long-term, sustainable returns for our shareholders,” Francia added.
Total attributable renewable energy output reached 2,230 gigawatt-hours (GWh), up 32 percent, due to contributions from newly operationalized international assets in 2025, and restoration of the company’s wind assets in Ilocos Norte.
ACEN’s renewable energy plants also generated 636 GWh, up 29 percent year-on-year, driven mainly by operations in Ilocos Norte, which saw higher energy resources.
Businesses in the Philippines delivered attributable revenue of P9.8 billion, up 14 percent year-on-year, and an attributable earnings before interest, taxes, depreciation, and amortization (Ebitda) of P2.90 billion.
Meanwhile, the firm’s power generation business in Australia increased 87 percent to 528 GWh, supported by improved solar irradiance and reduced grid curtailment at New England Solar, as well as contributions from Stubbo Solar’s operations.
In India, attributable output was flat at 231 GWh while attributable output from the Mekong portfolio rose 20 percent year-over-year to 556 GWh.
Meanwhile, the rest of ACEN’s overseas markets produced 279 GWh of attributable generation in the first quarter, up 18 percent from last year.
ACEN’s share price fell by 5 centavos to close at P3.34 each on Tuesday.
