Maynilad Water Services Inc. increased its net income by 10 percent to P12.6 billion in the first nine months of 2026, as higher billed water volume, improved network efficiency, and lower financing costs supported earnings despite elevated operating costs and inflationary pressures.
The West Zone concessionaire invested P19.5 billion in capital expenditures during the January-to-September period, up 5.1 percent from P18.6 billion a year earlier, to expand water and wastewater infrastructure, improve network reliability, upgrade production facilities, and strengthen customer services.
Revenues grew 3.5 percent to P28.6 billion from P27.7 billion, supported by a 2.8 percent increase in billed volume to 423.3 million cubic meters, an approved 2.85 percent rate adjustment, and continued customer growth.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 5.1 percent to P20.1 billion, while EBITDA margin improved to 70.3 percent from 69.2 percent, reflecting lower non-revenue water (NRW) and cost-efficiency measures despite higher oil prices.
Maynilad said its service coverage reached 95.2 percent as of September, while 24-hour water availability at a pressure of seven pounds per square inch covered 94.5 percent of its concession area.
The company also reduced NRW, or water lost through leaks, pilferage, and other distribution inefficiencies, to 29.3 percent from 32.8 percent a year earlier.
Wastewater coverage improved to 95.7 percent from 90.4 percent, with sewerage coverage rising to 27.7 percent from 25.9 percent and sanitation coverage reaching 68 percent from 64.5 percent.
Billed connections increased 1.5 percent to 1.59 million, reflecting continued customer expansion.
“While water supply risks and elevated inflation continue to shape the operating environment, we remain focused on strengthening our water supply resilience and improving network reliability,” Maynilad President and CEO Ramoncito S. Fernandez said.
“Our sustained investments in infrastructure and operational efficiency are intended to support growing demand, improve service delivery, and create long-term value for our customers and stakeholders,” he added.
