AboitizPower posts 6% income growth to P21.7-B in 2018

For 2018, AboitizPower recorded a net income of P21.7 billion, six percent higher than the P20.4 billion recorded in the previous year.

Non-recurring losses of P2.1 billion were recognized, without which, core net income for 2018 was P23.8 billion, two percent higher YoY (yearon-year). AboitizPower recorded consolidated earnings before interest, tax, depreciation, and amortization (EBITDA) of P51.5 billion for 2018, eight percent higher compared to the P47.7 billion recorded in 2017.

“We were able to sustain our growth with the entry of new capacities from our baseload power plant in Pagbilao, as well as our hydro plant in Manolo Fortich, Bukidnon and our efforts to continuously improve the availability and reliability of our generation assets,” Emmanuel V. Rubio, AboitizPower Chief Operating Officer, said.

Generation and Retail Electricity Supply AboitizPower’s generation and retail electricity supply business recorded a consolidated EBITDA of P43 billion in 2018, eight percent higher than the P39.7 billion recorded in the previous year. Performance was primarily driven by the fresh contributions from Pagbilao Energy Corporation (PEC) and Hedcor Bukidnon, Inc.

Capacity sold during the year was flat YoY, from 3,167 megawatts (MW) in 2017 to 3,152 MW in 2018.

That is why I am very committed in rehabilitating the wetlands of Candaba because I personally know its benefits to nature and the tourism industry in the area,” Marcos said during a press briefing in the City of San Fernando on February 12.