Megawide Construction Corp. posted a consolidated net income of P265 million in the first three months of 2026, an increase of 26 percent from the year-earlier period amid the onset of the Middle East crisis. By segment, construction delivered P262 million, real estate contributed P14.0 million, and Landport posted a slight loss.
Consolidated revenues rose 14 percent to P4.81 billion, driven by broad-based improvements across the portfolio. Construction remained the largest contributor at P3.84 billion (up 5 percent), real estate surged to P831 million (more than double last year), and Landport held steady at P138 million. Margin-wise, consolidated gross margin increased to 24 percent from 22 percent, net margin inched up to 6 percent from 5 percent, while EBITDA margin stayed nearly flat at 25 percent.
“Our first-quarter results are consistent with our back-ended target for the year. While performance remains healthy, the impact of the Middle East War and a replenished construction order book is still being assessed. We are actively evaluating developments to stay on track with our goals,” said Edgar Saavedra, Megawide’s chairman and chief executive officer.
The Company has strengthened its financial position, cutting almost P6.0 billion in short-term debt in the first quarter alone, translating to estimated interest savings of at least P250 million for the year.
“For the remainder of the year, we plan to pay down another P2.5–3.0 billion in short-term obligations, boosting liquidity and creating more debt headroom for long-term growth,” added Group CFO Jez dela Cruz.
Megawide’s construction order book stands at P48.7 billion as of end-March 2026. Projects underway include 11,000 socialized housing units under the 4PH program, Carbon Market Redevelopment, and major transport hubs such as the Baguio City Integrated Terminal, South Luzon Integrated Terminal Exchange, and Cavite Bus Rapid Transit System.
