Citicore Energy REIT Corp. (CREIT) delivered stable earnings in 2025, underscoring the resilience of its long-term lease model amid broader market volatility.
The country’s first and largest renewable energy real estate investment trust reported revenues of P1.88 billion, with earnings before interest, taxes, depreciation, and amortization (EBITDA) at P1.85 billion and net income reaching P1.43 billion.
The performance was largely anchored on guaranteed lease revenues of P1.67 billion, supplemented by P50.29 million in variable income tied to the upside of its tenants’ solar generation output.
CREIT’s structure—leasing land to solar operators under long-dated contracts—continues to provide predictable cash flows, with a weighted average lease expiry of 19.44 years and a 100 percent occupancy rate across its 7.1 million square meters of gross leasable area.
“Our 2025 performance reflects the strength and resilience of CREIT’s business model,” said president and CEO Oliver Tan, noting that the company is positioned to weather volatility better than traditional REITs due to its exposure to essential energy infrastructure.
The firm declared an annual dividend of P0.203 per share, equivalent to a 6.3 percent yield based on its recent share price. Notably, CREIT distributed 106 percent of its distributable income for the fourth consecutive year, exceeding the 90 percent minimum payout required under the REIT law.
The company’s asset base supports its sponsor’s broader expansion strategy, including a target to build 5 gigawatts of renewable capacity over five years, reinforcing CREIT’s role as a funding and asset platform.
Beyond earnings, CREIT maintained strong credit and governance credentials. It retained a PRS Aa+ issuer rating with a stable outlook from PhilRatings, while its ASEAN Green Bonds carry the same rating.
