Aboitiz Power Corp. said Monday its net income last year increased 32 percent year-on-year to P27.5 billion, which would have been higher if not for the damage sustained from Typhoon Odette.
The power firm said net income would have increased 52 percent if it excluded the impact of the typhoon that ravaged parts of the Visayas, liquidated damages, and business interruption claims that the company collected in 2022 and 2021.
AboitizPower said capacity sold last year increased by 7 percent year-on-year to 4,034 megawatts while energy sold rose 16 percent to 30,251 gigawatt-hours. Meantime, distribution revenue climbed 6 percent to P8 billion.
“We have achieved another strong year in 2022, despite the challenges posed by the ongoing pandemic. Our pursuit of delivering reliable and sustainable power to our customers and our strategic investments in renewable energy have enabled us to remain resilient and adapt to changing market conditions,” said AboitizPower president and chief executive officer Emmanuel V. Rubio.
“As we move forward, we will continue to focus on expanding our renewable energy portfolio and leveraging digital technologies to enhance our operations and customer service. We remain optimistic about the future and are confident in delivering long-term value to all our stakeholders,” he added.
