ACEN Corp. on Wednesday said consolidated net income grew 84 percent to P3.29 billion in the first nine months of 2026 from P1.79 billion in the same period last year, driven by stronger generation contribution across its markets and higher contracted energy volumes.
In a disclosure, the Ayala-led energy producer said core attributable earnings before interest, taxes, depreciation and amortization (Ebitda) reached P21 billion, up from P15 billion in the same period last year.
The improved core earnings were attributed to stronger contributions from the Philippines and ACEN Investments, partly tempered by a weak spot market environment in Australia.
"We continue to grow as more projects come into operation, in turn expanding our renewable energy portfolio and generation,” ACEN Corp. President and CEO Eric Francia said.
“As we build on this growth, our focus is increasingly on execution, operational excellence, and profitability,” he added.
ACEN said its attributable renewables portfolio now stood at 7,484 megawatts (MW), with the addition of 1,660 megawatt-hours (MWh) of battery storage projects under construction in the Philippines.
But capacity in India was reduced after the company sold down 49 percent of its equity interests in certain projects under construction, reversing a portion of the capacity added in the first quarter when ACEN took full ownership of its India platform.
“After these movements, 59 percent of the portfolio is now operational, and approximately 81 percent of energy sold in the first nine months was contracted,” it added.
By market, renewable energy generation in the Philippines rose 13 percent year on year to 1,502 gigawatt-hours (GWh) in the first nine months, driven by higher availability of its Northern Luzon wind portfolio.
The Philippine business delivered P37.10 billion in attributable revenues and P8.80 billion in attributable earnings before interest taxes, depreciation and amortization (Ebitda), representing growth of 51 percent and 35 percent, respectively.
In Australia, the company said attributable output climbed 48 percent year on year to 1,303 GWh, thanks to reduced grid curtailment and stronger solar irradiance at New England Solar 1, together with the first full nine-month contribution from Stubbo Solar.
Attributable revenue here grew 73 percent to P3.10 billion, while attributable Ebitda rose 49 percent to P1.70 billion.
In India, attributable output grew 22 percent year on year to 672 GWh, enabled by contributions from the newly commissioned 153 MW Maharashtra hybrid project. Attributable revenues rose by the same margin to P1.30 billion, and attributable Ebitda went up by 22 percent to P1 billion.
In the Mekong, attributable output rose 23 percent year on year to 1,599 GWh, lifted by the first full nine months of Monsoon Wind in Laos and stronger solar and wind resources across the portfolio.
As a result, attributable revenues here increased 35 percent to P8.40 billion, while attributable Ebitda went up 32 percent to P7.10 billion.
ACEN said it delivered a total of 874 GWh in attributable generation on its other international market projects, 11 percent more than a year earlier.
The company’s shares on Wednesday shed P0.07, or 2.61 percent, to close at P2.61 apiece.
