AboitizPower Q1 earnings surged 71%

Aboitiz Power Corp. started 2026 with a profit surge of 71 percent thanks to strong capacity buildout.

The company said in a disclosure on Tuesday its net income rose to P7.9 billion from P4.6 billion a year earlier.

The firm’s beneficial earnings before interest, taxes, depreciation and amortization also jumped by 35 percent to P20.3 billion from P15 billion.

AboitizPower also realized earnings from Chromite Gas Holdings Inc.

This led to a core net income of P7.6 billion, soaring 61 percent from the year-ago P4.7 billion.

The robust financial performance was attributed to its generation segment, particularly the higher contracted capacity and the availability of its coal plants.

The group also fired up new solar power plants, namely the 221-megawatt-peak (MWp) Olongapo, 47-MWp Armenia and 93-MWp San Manuel.

AboitizPower’s generation and retail electricity supply business saw energy sales reach 11,243 gigawatt hours (GWh) for the said period. This meant a 30-percent boost from the 8,650 GWh logged last year.

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Electricity sold through the distribution segment, meanwhile, went up by 6 percent to 1,707 GWh from 1,606 GWh.

The firm’s total consolidated assets stood at P632.2 billion as of end-March.

For 2026, AboitizPower intends to spend P62 billion in capital expenditures to roll out more renewable energy projects and battery energy storage systems (BESS).

“We continue to deploy capital strategically to accelerate our portfolio transition while maintaining grid reliability through our transition and distribution business groups,” AboitizPower president and CEO Danel Aboitiz said in a statement.