AboitizPower full-year core profit down by 1.7%

Aboitiz Power Corp. saw its core profit dip in 2025 despite better energy sales as it continued to bear the impact of depreciation and interest expenses from GNPower Dinginin Ltd. Co. (GNPD).

In a disclosure on Thursday, AboitizPower said its core net income totaled P33.1 billion, down by 1.7 percent from P33.7 billion a year earlier.

Excluding the financial impact of the GNPD, the figure should have been higher by 2 percent.

The firm’s reported net income also dropped sharply by 43 percent to P19.5 billion from P33.9 billion. This was mainly due to one-time losses of P13.9 billion related to its investment in GNPower Mariveles Energy Center Ltd. Co.

The group’s beneficial Ebitda (earnings before interest, taxes, depreciation and amortization) improved by 9 percent to P79.6 billion from P73.3 billion.

On the other hand, the company’s generation and retail electricity units booked stronger power sales, reaching 43,718 gigawatt-hours (GWh).

This meant an increase of 21 percent from 36,004 GWh in 2024.

Distribution segment

AboitizPower’s distribution business likewise saw better sales volume at 6,927 GWh in 2025. That was up 4 percent from 6,631 GWh.

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Although AboitizPower saw lower spot market prices, the firm still managed to soften the impact, thanks to fresh contributions from Chromite Gas Holdings Inc.; the activation of three solar parks with a combined capacity of 377 megawatt peak; and the increase in contracted capacity in the second semester.

The company ended 2025 with total consolidated assets of P622.8 billion.

AboitizPower has operations in power generation, power distribution, retail electricity services and distributed energy.

Its power generation portfolio includes both renewable and nonrenewable generation plants. By 2030, the group hopes to have 4,600 MW of renewable capacity.