Publicly-listed Raslag Corp. reported a net income of PHP 48.3 million for the six months ended June 30, 2025, a 35.93% decrease from the PHP 75.4 million recorded in the same period last year. This decline is primarily attributed to a substantial increase in finance costs tied to RASLAG-4 financing.

The company, in a disclosure to the Philippine Stock Exchange, meanwhile said its revenues rose to PHP 300 million, 25.37 % higher than the PHP 239.0 million it made last year. The company said that the increase was driven by an additional of 22.8 million kilowatt-hours (kWh) of electricity sold, primarily from RASLAG-4’s operation. Average spot market prices during the period stood at PHP 3.41/kWh.

Despite the drop, RASLAG maintained its solid financial position. As of June 30, the company totaled PHP 4.8 billion assets, slightly up from the end of 2024. 

Through its subsidiary, Raslag Gerona, Inc, the company is developing RASLAG-6, a solar project with 58 megawatt peak (MWp) in Gerona Tarlac. The acquisition of the land is being funded by a PHP 250 million loan from the Bank of the Philippine Islands.

Raslag Liwayway, Inc., another subsidiary, planned two more large scale projects in Sta.Rosa, Nueva Ecija, the RASLAG 7 and RASLAG-8, with a combined MWp of 140.

The company said that its project will solely rely from internally generated cash and bank loans.

Raslag Corp. continues to expand and show its commitment to growing its solar power footprint in Luzon and contributing to the Philippines’ renewable energy targets.

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