Aboitiz Power Corp. said Wednesday it booked a core net income of P23.1 billion in the first three quarters of 2025, down 15.1 percent from P27.2 billion in the same period in 2024.
The company said the decline was largely due to full impact of depreciation and interest expenses for GNPower Dinginin Ltd. Co. (GNPD), which the company began recognizing in March 2024.
It said that including forex and derivative gains, the company’s net income in the first nine months of 2025 was P23.3 billion.
AboitizPower said its earnings before interest, taxes, depreciation and amortization or EBITDA stood flat in the first nine-months at P56.3 billion. It said fresh contributions from Chromite Gas Holdings Inc. and new solar plants—Laoag (159 megawatt-peak (MWp), Armenia (45 MWp) and Calatrava (173 MWp) were offset by lower spot market prices during the first nine months of 2025.
Net income in the third quarter rose 5 percent to P10.6 billion from P10.14 billion a year ago. Third-quarter EBITDA increased 12 percent to P22.2 billion from P19.8 billion reported in the same period last year.
Energy sold reached 32,138 gigawatt-hours (GWh) in the first nine months of 2025, up 19 percent from 26,910 GWh in the same period last year.
