Vivant Corp. kept first-quarter core earnings largely steady as resilient on-grid power assets and a growing water business helped offset weaker performance from its off-grid operations.
The listed energy and water infrastructure firm reported consolidated core net income (CCNI) of P313 million in the first quarter of 2026, down slightly by 2 percent from a year earlier.
Net income attributable to equity holders of the parent slipped 6 percent to P267 million after accounting for non-core items, including losses tied to an unplanned outage in one of its off-grid generation facilities.
Despite the softer bottom line, the company said its long-term growth strategy remains intact, supported by stable utility earnings, stronger electricity market participation, and expanding infrastructure investments.
Vivant said earnings from its stake in Visayan Electric Co. or VECO remained the group’s largest contributor at P267 million. The utility recorded electricity sales of 975 gigawatt-hours during the quarter, providing a steady revenue base for the company.
Its on-grid generation portfolio also posted improved results, benefiting from stronger participation in the Wholesale Electricity Spot Market (WESM). Higher spot market sales boosted contributions from the company’s coal and oil-fired assets in Cebu and Mindanao.
Meanwhile, retail electricity supplier Corenergy posted a 43 percent increase in energy sales volume as it expanded its customer base in the contestable market.
Water operations likewise emerged as a major growth driver, with Vivant Water contributing P75 million in earnings from desalination and wastewater projects. The company also expanded into water distribution through new acquisitions and operational facilities in Bantayan Island.
Vivant executives said continued investments in renewable energy, retail power, and water infrastructure would support sustained medium-term growth despite global market uncertainties.
