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ABOITIZ POWER Corp. (AboitizPower) reported a 5% year-on-year increase in attributable net income to P10.6 billion for the third quarter, driven by improved margins in its power generation business. In a stock exchange disclosure on Wednesday, the company said the higher contribution from the generation segment was due to reduced exposure to the spot market and increased water inflow at its hydro plants. Beneficial earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 12% to P22.2 billion from P19.8 billion a year earlier. For the nine months ending September, AboitizPower’s core net income dropped 15% to P23.1 billion, reflecting the full impact of depreciation and interest expenses from GNPower Dinginin Ltd. Co. (GNPD). Including foreign exchange and derivative gains, net income reached P23.3 billion. Beneficial EBITDA for the nine-month period was nearly unchanged at P56.3 billion, compared with P56.1 billion last year. The company said this was supported by new contributions from Chromite Gas Holdings, Inc. and newly commissioned solar plants, offset by lower spot market prices. AboitizPower recently energized several solar facilities — including the 159-megawatt (MW) Laoag, 45-MW Armenia, and 173-MW Calatrava plants — as part of its ongoing renewable energy expansion. Energy sales for the three-quarter period climbed 19% to 32,138 gigawatt-hours (GWh). The EBITDA of its generation and retail supply business rose 1% to P50.9 billion, while the distribution segment’s EBITDA increased 2% to P7 billion, supported by a 5% rise in energy sold to 5,166 GWh. For 2025, AboitizPower has allocated P78 billion in capital expenditures, primarily for its renewable energy portfolio. The company, the Aboitiz Group’s power arm, targets to expand its total attributable net sellable capacity to 9.2 gigawatts by 2030, with a 50:50 mix of renewable and thermal energy. Shares in AboitizPower fell 0.49%, or two centavos, to P41 each on Wednesday. — Sheldeen Joy Talavera
