VIVANT Corp. on Friday reported a consolidated core net income of P2.70 billion for 2025, up 21 percent from the previous year's P2.30 billion and attributed to strong results from its power generation business.
"This was driven by the strong performance of Vivant Energy’s portfolio of generation assets, particularly our oil plants, and the steady contribution of our electricity distribution business," Vivant Corp. CEO Arlo Sarmiento said in a statement.
Power generation accounted for 69 percent of total net income and contributed P2.5 billion, the company said.
Adding non-core items such as gains from a share purchase and losses from an unplanned generating unit outage, net income attributable to the parent firm was also P2.7 billion, up 15 percent from 2024.
Consolidated revenues for the year of 2025 rose two percent to P12.40 billion from P12.20 billion, mostly due power and the finance income recognized from a concession asset.
Operating expenses, meanwhile, grew by 10 percent to P1.8 billion as the company added employees, paid more for professional fees and services, and dealt with depreciation and amortization costs from fixed asset acquisitions and capital expenditures.
The distribution business was said to have contributed P1.1 billion to net income but the retail energy segment posted a P160-million loss due to higher power prices.
The company said that its portfolio of plants delivered 4,441 gigawatt-hours last year, down 11 percent year on year. Earnings, however, were said to have been sustained by profits from the reserve market.
The water business, meanwhile, contributed P218 million, rebounding from a P9-million loss in 2024.
"...Vivant Water is slowly pivoting from an investment-heavy phase to a revenue-generating one, as it starts to recognize the value of our concessions," Sarmiento said.
"Looking ahead, we remain committed to achieving our aspirational goals considering the strides we have made thus far," he added.
"We are focused on reaching our 2030 targets through four key pillars, which are expanding our retail energy footprint, reinforcing our leadership in small power utilities groups, scaling our renewable generation capacity, and providing essential water services in the areas we have a presence in."
Vivant shares were untraded on Friday. They last closed at P19.76 apiece on Tuesday. THE MANILA TIMES