Aboitiz Power Corp. reported a stronger third-quarter performance with net income after minority interests climbing 32% to PHP 10.6 billion, fueled by higher generation margins and improved hydro inflows, even as lower spot market prices tempered its nine-month EBITDA of PHP 56.3 billion, which was nearly flat year-on-year.

The company’s beneficial EBITDA rose to PHP 22.2 billion in Q3 2025, up 16% from Q2 and 12% higher than the same period last year—buoyed by additional capacity from new solar and gas assets.

For the first nine months, AboitizPower said the benefit from recent additions, including Chromite Gas Holdings and solar plants in Laoag (159 MWp), Armenia (45 MWp), and Calatrava (173 MWp), was offset by weaker spot market prices.

Operationally, total energy sold surged 19% year-on-year to 32,138 GWh in the first nine months of 2025, though EBITDA for the generation and retail supply segment inched up only 1% to PHP 50.9 billion.

Distribution EBITDA reached PHP 7.0 billion, a 2% gain, supported by a 5% rise in distribution sales to 5,166 GWh.

As of September 30, consolidated assets totaled PHP 584.3 billion (+13% vs. end-2024), with cash and short-term investments at PHP 62.6 billion and interest-bearing liabilities at PHP 304.0 billion. The company’s current ratio narrowed to 1.1x (from 1.6x), while net-debt-to-equity rose to 1.1x (from 0.8x).

What do you think AboitizPower’s Q3 results signal for power prices, renewable expansion, and investor confidence in the Philippine energy sector?

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