MACROASIA Corp. on Wednesday reported a 29.67-percent decline in first-half consolidated net income to P546.5 million, from P777.1 million a year earlier, despite a 9-percent revenue increase to P5.26 billion.
Profit was said to have been weighed down by higher costs and weaker contributions from associates led by Lufthansa Technik Philippines.
Attributable net income, meanwhile, amounted to P449.6 million, a 34.7
percent drop from P679.7 million last year.
The company's unaudited consolidated revenues climbed to P5.26 billion
from P4.81 billion, supported by continued growth in food services, ground handling, aviation support and water operations.
“MacroAsia continued to generate revenue growth across its key operating businesses during the first half of 2026, notwithstanding higher operating costs and the impact of lower associate earnings on first-half profitability," President and COO Eduardo Luis Luy said.
Luy said the company's priorities were to improve margins through cost recovery and operating efficiencies, strengthen cash conversion, and maintain disciplined execution of growth investments.
The company's direct costs increased by 13 percent to P4.22 billion, although consolidated gross profit fell by 2 percent to P1.05 billion.
Operating expenses rose by 13 percent to P852.0 million because of higher business volumes and increased manpower, lease and other operating requirements.
The company's share in net earnings of associates totaled P456.1 million, a decline of 25 percent from P611.0 million.
Lufthansa Technik Philippines remained the largest associate contributor at P411.2 million, which was lower than the P537.8 million seen in the first half of 2025.
The decline was said to reflect higher lease costs and expenses associated with the discontinuance of line maintenance operations.
MacroAsia’s share price was unchanged at P3.81 each on Wednesday.
