Aboitiz Power Corp. reported a slight decline in its core earnings for 2025 as one-off accounting costs tied to a major power project weighed on results, even as electricity sales grew.
In a disclosure to the Philippine Stock Exchange, the company said its core net income slipped 1.8 percent to P33.1 billion in 2025, from P33.7 billion in 2024.
The company explained that earnings were dragged down by depreciation and interest expenses from GNPower Dinginin Ltd. Co., which it began recognizing in its books only in March 2024. Excluding these costs, Aboitiz Power said its core profit could have grown by about 2 percent year-on-year.
The impact was more visible in the company’s reported net income, which fell 43 percent to P19.5 billion, compared with P33.9 billion in the previous year.
Despite the profit decline, the company’s operating performance improved. Its power generation and retail electricity supply units sold 43,718 gigawatt-hours (GWh) of electricity in 2025, up 21 percent from 36,004 GWh in 2024.
Energy sales from its distribution utilities also rose 4 percent to 6,927 GWh, from 6,631 GWh a year earlier.
Looking ahead, Aboitiz Power is expanding its energy portfolio with a focus on renewables. The company aims to add 3,600 megawatts (MW) of new renewable energy capacity by 2030, bringing its total renewable capacity to 4,600 MW. This will complement its thermal power plants to help meet the country’s baseload and peak power demand and support a total capacity target of 9,200 MW by 2030.
The group is also engaged in power distribution through Davao Light and Power Co. Inc. and Visayan Electric Co..
