Manila Water reported strong financial and operating results for the first quarter, driven by higher water tariffs, efficient operations, and disciplined cost management.
The company’s consolidated revenues rose 11 percent to P10.6 billion, while EBITDA increased 14 percent to P7.9 billion, resulting in a 74 percent EBITDA margin. Net income climbed 24 percent to P4.4 billion, with net income margins improving to 42 percent.
Manila Water said the strong performance came despite higher depreciation and interest expenses linked to ongoing infrastructure projects.
Its core East Zone Concession business posted an 11 percent increase in revenues to P8.5 billion, supported by approved tariff adjustments. EBITDA grew 13 percent to P6.5 billion, while net income jumped 28 percent to P4.1 billion.
The company’s Non-East Zone Philippines (NEZ PH) operations also recorded growth, with net income increasing 56 percent. This was driven by tariff adjustments in Clark, South Luzon, and Boracay, as well as higher supervision fees from Laguna Water and Estate Water projects.
During the quarter, Manila Water spent P2.8 billion on capital expenditures to expand capacity, improve system efficiency, and strengthen water supply reliability.
The company also ramped up preparations for the expected El Niño later this year. Measures include diversifying water sources, increasing treatment and distribution capacity, and preparing contingency systems such as deep wells and mobile water delivery units.
Manila Water president and CEO Roberto R. Locsin said the company’s strong earnings reflect resilient operations despite inflation and other challenges, adding that continued infrastructure investments are helping improve long-term reliability and growth.
