Aboitiz Equity Ventures Inc. (AEV) said Friday it posted a 27-percent decline in first-half net income to P8.4 billion from P11.5 billion in the same period last year.
The company said in a disclosure to the Philippine Stock Exchange its second-quarter net income was P5 billion, a 65-percent increase from the P3.2 billion reported in the first quarter.
It said the quarter-on-quarter growth was largely driven by improved performance in the power and food and beverage segments.
Despite the second-quarter recovery, the results were not enough to offset a softer first quarter, leading to the year-on-year drop for the first half, the company said.
Power accounted for 64 percent of AEV’s total net income contributions from its strategic business units (SBUs) in the first half, while food and beverage accounted for 33 percent. Financial services contributed 15 percent, while real estate and infrastructure posted losses of 1 percent and 11 percent, respectively.
Aboitiz Power Corp.’s net income contribution to AEV was P6.9 billion, a 24-percent decrease from P9.1 billion a year ago.
AboitizPower’s core net income in the first half was P12.8 billion, compared with P17.1 billion in the first half of 2024. The company said this reflected the full impact of depreciation and interest expenses for GNPower Dinginin Ltd. Co., which began in March 2024, and lower spot market prices.
Including the impact of foreign exchange, AboitizPower’s reported net income in the first half of 2025 was P12.7 billion, down from P17.1 billion in 2024. Energy sold totaled 19,440 gigawatt-hours (GWh) in the first half of 2025, a 9-percent increase from 17,758 GWh in the same period a year earlier.
Net income contributions from Union Bank of the Philippines amounted to P1.6 billion in the first half, a 35-percent drop from P2.5 billion in the same period of 2024.
UnionBank’s net income declined by 36 percent year-on-year to P3.3 billion in the first half of 2025 on higher credit costs from new credit card customers and its subsidiaries. The bank also incurred one-time costs related to operational and financial resiliency enhancements.
Revenues reached P39.7 billion, a 9 percent year-on-year increase, driven by a 61 basis point expansion in its net interest margin to 6.4 percent, a result of continued growth in high-yielding consumer loans and low-cost current account/savings account (CASA).
Aboitiz Land Inc. and its subsidiaries reported a consolidated net loss of P51.8 million in the first half, reversing a P445-million net income in the same period of 2024. The loss was primarily due to lower sales, higher forfeitures and reduced construction activity as projects neared completion.
The food and beverage segment’s net income contribution was P3.6 billion in the first half of 2025, up 31 percent from P2.8 billion in the same period of 2024.
The increase was driven by profitability gains across all divisions of Aboitiz Foods and full, six-month contributions from Coca-Cola Europacific Aboitiz Philippines Inc., which financially closed on Feb. 23, 2024.
