ACEN Corp. on Monday reported a 60-percent plunge in 2025 net income to P3.80 billion, from P9.39 billion a year earlier, due to factors including lower power prices and inactive wind assets.
Revenues fell 14 percent to P32 billion, which the company attributed to softer electricity spot prices in the Philippines and Australia, weaker solar irradiation in key areas,offline wind assets in Northern Luzon and a net impairment related to a Vietnam asset.
“ACEN Corporation faced numerous macro and sectoral headwinds in 2025, reflecting the complexities of today’s energy landscape and the long-term energy transition,” President and CEO Eric Francia said.
“Despite these headwinds, our core business and long-term outlook remain resilient," he added.
"As we look ahead, we will continue to prioritize increasing our contracted capacity and accelerating investments in energy storage, while ensuring steady, continued progress on our pipeline projects,” he added.
ACEN said it still delivered 7,009 gigawatt-hours (GWh) of renewable energy output, up 24 percent year-on-year, supported primarily by contributions from new operating assets in Australia and Laos.
In the Philippines, renewables output rose two percent to 1,866 GWh, supported by wind turbine repairs in Ilocos Norte.
ACEN Renewable Energy Solutions, the company’s retail electricity business, continued to expand with contracted capacity of 482 MW across 753 customers.
Overseas renewable generation grew by 34 percent year-on-year to 5,143 GWh, supported by strong contributions from all markets and output from new operational plants.
“Notwithstanding softer financial performance, we continued to deliver solid generation growth,” ACEN Chief Financial Officer Jonathan Back said.
“In 2026, our focus will remain on precise execution, namely operational efficiency, balance sheet strength, and project delivery. This continued, disciplined approach will help us navigate market and macro uncertainties while sustaining our long-term growth trajectory.”
ACEN's share price went down by P0.11 to close at P2.44 per share on Monday.