AboitizPower’s net income up 6% in 2018

AboitizPower IPO

AboitizPower reported a six percent increase of net income, from 2017’s P20.42 billion to P21.71 billion in 2018

The increase was mainly attributed to the rise of operating revenues which was at P131.57 billion from P119.39 billion in 2017.

This was driven by fresh contributions from PEC and Hedcor Bukidnon; and higher sales at TLI, as well as higher electricity sales during 2018 but the company’s largest distribution utilities.

Despite the increase, consolidated liabilities also rose by seven percent from P237.50 billion at the end of 2017 to P253.09 at the end of 2018.

Total systems loss stands at 8.46 percent as of December 2018.