MANILA -- AboitizPower posted a net income of PHP16.7 billion in the January to September period this year, constituting a 6-percent growth from the PHP15.7 billion in the same period in 2017.
The Aboitiz Group’s power generation, distribution, and retail electricity services arm also announced Wednesday that its consolidated earnings before interest, depreciation, taxes, and amortization (EBITDA) rose 11 percent to PHP39.1 billion in the first nine months of the year from PHP35.4 billion last year.
AboitizPower Chief Operating Officer Emmanuel Rubio said the firm’s strong performance over the period was supported by rising demand for reliable, affordable, and sustainable power supply.
“We were able to take advantage of this demand by growing our capacity and balanced mix portfolio of renewable and thermal assets. We aim to be a supplier of choice by optimizing our facilities to maximize efficiency and reliability and ensure that we can fully support the energy requirements of our customers,” Rubio said.
The company recorded PHP33 billion in consolidated Earnings before interest, tax, depreciation and amortization or EBITDA in its generation and retail electricity supply businesses, up by 11 percent this year from PHP29.8 billion last year, with significant contributions from Pagbilao Energy Corp. and Hedcor Bukidnon, Inc.
Total capacity sold in the first nine months of the year reached 3,162 megawatts (MW) from 3,158 MW in 2017.
Its power distribution business likewise grew by 11 percent to PHP6.2 billion in January to September this year from PHP5.6 billion in the same period last year.
Consumption across all customer segments increased, bringing energy sales at 4,136 gigawatt-hours (GWh) this year from 3,924 GWh in the previous year, a 5-percent increment.
“We hope to sustain this steady growth momentum as we march to our 4,000-MW net attributable target in 2020, allowing us to continue advancing business and communities by providing power supply that is reliable, reasonably priced, and responsibly produced,” Rubio noted. (PNA)
