ALTERNERGY Holdings Corp. posted a 1.82-percent increase in consolidated net income to P168.2 million from P165 million for the fiscal year ended June 2026, driven by its strong renewable energy portfolio.
In a disclosure on Thursday, the company said total revenues grew to P471.85 million from P359.93 million while earnings before interest and taxes, depreciation and amortization (Ebitda) rose 39 percent to P553.8 million from P339.2 million.
Revenue growth was driven by contribution from its renewable energy portfolio, including the newly commissioned Balsik Solar Project in Bataan. Consolidated gross profit climbed 44 percent to P272.6 million, with gross profit margin improving to 58 percent from 53 percent.
The Balsik Solar Project generated P96.4 million in revenues and P71.2 million in gross profit, accounting for approximately 20 percent of consolidated revenues.
The company’s two other solar assets — Kirahon and Palau — continued to provide a substantial portion of revenues, while the Pililla Wind Project recorded improved performance, supported by an increased tariff under the Feed-in-Tariff program.
“FY2026 marks an important stage in Alternergy’s growth. We are beginning to realize the returns on our portfolio investments as we build the financial and operational foundation for the next phase of our development,” said Alternergy President Gerry Magbanua.
“The growth in revenues and Ebitda demonstrates the progress in our portfolio, while the substantial increase in our asset base shows the investments being made to bring our next wave of projects into operation,” he added.
Consolidated assets grew to P24.60 billion from P17.72 billion last year, driven by the company’s two largest projects, the 128-megawatt (MW) Tanay Wind and 64-MW Alabat Wind projects.
Noncurrent assets stood at P20.6 billion, with project costs accounting for 93 percent of the total.
“The significant expansion in our asset base reflects the scale of investments in our two largest projects to date, the 128 MW Tanay Wind and the 64 MW Alabat Wind, now 90 percent and 85 percent complete, respectively,” Magbanua said.
“As both projects are nearing commercial operations in a matter of months, we are approaching an important inflection point when these investments will begin contributing substantially to our operating revenues,” he added.
Alternergy shares on Thursday slipped P0.02, or 2.99 percent, to close at P0.65 each amid a 1.12-percent drop for the benchmark Philippine Stock Exchange index.
