CITICORE Energy REIT Corp. (CREIT) said Wednesday that net income in the first half had slid by 0.25 percent to P686.19 million from P687.89 million a year earlier, driven by an increase in operating expenses and lower interest income.
Revenues stood at P916 million, supported by built-in lease escalations across its solar land portfolio.
Gross profit amounted to P863.86 million, which translated to a gross profit margin of 94 percent.
Direct costs reached P52.59 million higher by P0.23 million than last year.
Earnings before interest, taxes, depreciation and amortization, meanwhile, stood at P895 million.
“Our first-half performance highlights the resilience of our portfolio, anchored on stability, consistency, and long-term value creation,” Citicore President and CEO Oliver Tan said.
"Because our underlying assets contribute to the essential backbone of the nation’s energy transition, we are uniquely insulated from market volatility compared to traditional REITs, allowing us to deliver reliable, sustainable returns to our shareholders," he added.
CREIT’s board of directors also declared a cash dividend of P0.049 per share for the second quarter, payable on Oct. 7, 2026, to stockholders on record as of Sept. 11.
"As CREC accelerates toward its ambitious target of 5 gigawatts in five years, CREIT stands directly in line to capture value from upcoming and potential additional pipeline asset infusions," the company said.
CREIT’s share price was unchanged at P3.38 apiece on Wednesday.
