Megawide Construction Corp. reported a slight decline in net income for the first half of 2025, down to ₱436.41 million from ₱437.58 million a year ago, as several major construction projects neared completion. This translated to a 23 percent drop in consolidated revenue, which fell to ₱8.77 billion from ₱11.49 billion, the company said on Wednesday.
The downturn was more pronounced in the second quarter, where net income dropped 10 percent to ₱227.19 million, while revenue declined 28 percent year-on-year to ₱4.45 billion. The construction segment, still Megawide’s core business, generated ₱7.3 billion in revenues—85 percent of the total—but reflected the typical late-cycle revenue tapering of ongoing projects.
Despite the earnings dip, chairman and CEO Edgar Saavedra highlighted positive momentum from Megawide’s real estate business, which posted ₱1.1 billion in revenue—more than triple the previous year—driven by strong sales from vertical residential developments like My Enso Lofts and The Hive. Real estate sales bookings hit ₱1.7 billion, up 64 percent, boosting unbooked revenue to ₱8.8 billion.
Other segments also showed modest growth. Landport operations rose 6 percent to ₱217 million, supported by a consistent passenger flow and strong commercial occupancy at 98 percent.
Megawide’s construction order book stood at ₱37.7 billion by end-June, bolstered by new contracts worth ₱2 billion, including the Modan Lofts Ortigas Hills and Citicore’s solar and battery energy storage projects. The firm is targeting a year-end order book of ₱50 billion, with ₱20 billion worth of high-value bids in the pipeline.
Strategically, Megawide is repositioning toward more scalable, socially responsive ventures, notably its entry into the government’s 4PH public housing program. The company broke ground on four 4PH projects in Cavite, expected to deliver 7,000 units in 2–3 years, and aims to harness internal synergies across its EPC and precast units.
In addition, the Caticlan Airport Terminal project, launched last July, signals Megawide’s intent to expand into transport infrastructure, aligning with its long-term diversification goals.
Saavedra remains optimistic, stating, “We are on track to outpace last year’s net income, as new growth drivers like real estate and public housing begin to offset the cyclical slowdown in construction.”
