Maynilad Water Services, Inc. capped 2025 with a 19 percent jump in consolidated net income to P15.2 billion, proving that steady tariffs and tighter pipes can be a profitable mix.
Revenues rose 9.4 percent to P36.6 billion, buoyed by approved tariff adjustments and stable billed connections. But the real story was efficiency. EBITDA climbed 14.9 percent to P25.3 billion, pushing margins to a hefty 69 percent. Cash operating expenses inched up just 1.5 percent, thanks largely to aggressive network upgrades and non-revenue water reduction.
Average NRW improved sharply to 34.9 percent from 39.9 percent a year earlier, with year-end levels down to 30.7 percent. The company said it recovered about 256 million liters per day of water through leak repairs and system improvements. Around-the-clock water service now reaches 91.9 percent of customers, while sewer coverage expanded to 26.5 percent.
Investors are getting a splash of the gains. On February 23, the board approved a P1.14 per share cash dividend, or roughly P8.44 billion in total, payable March 18 to shareholders of record as of March 9.
The payout exceeds the minimum under its amended dividend policy, which guarantees at least half of prior year net income or 40 percent of adjusted net income. Adjusted net income hit P19.0 billion.
Capital expenditures reached a record P26.9 billion in 2025, funding new water supply facilities, network upgrades, and sewer infrastructure.
These investments lifted Maynilad’s Interim Cash Position to P163.9 billion at the start of 2026, strengthening its regulated asset base under its concession agreement.
“FY 2025 marked strong consolidated financial performance alongside meaningful service improvements,” said President and CEO Ramoncito S. Fernandez, signaling that the utility intends to keep balancing shareholder returns with service reliability.
