Aboitiz Equity Ventures, Inc. (AEV), the portfolio manager of the Aboitiz Group, posted a consolidated net income of P3.2 billion for the first quarter of 2025, a 35 percent decline from the P4.9 billion reported in the first quarter of 2024.
AEV said in a statement Wednesday this marks a temporary decline from the previous year and the group’s strategic investments in renewable energy and infrastructure expansion underscore its long-term vision for growth, resilience, and nation-building.
Power accounted for 62 percent of the total net income contributions from AEV’s strategic business units (SBU) for the first quarter while food and beverage accounted for 35 percent.
Net income contributions from the financial services, real estate, and infrastructure SBUs were at 17 percent, -1 percent, and -13 percent, respectively,
“Looking to 2025, we see even more opportunities to create value for our shareholders and contribute to national development,” said AEV president and chief executive Sabin Aboitiz.
“While revenues slightly dipped due to lower power selling prices, this reflects favorable cost trends — particularly in fuel and supply. Our focus remains on the quality of earnings, not just topline growth.”
AEV’s power business, AboitizPower, contributed 62 percent of the group’s net income during the period.
AboitizPower’s net income contribution to AEV for the first quarter amounted to P2.5 billion, 39 percent lower than the P4.2 billion recorded in the same period in 2024.
The company advanced its clean energy strategy with the successful energization of new solar projects in Laoag (159 MWpeak), Armenia (45 MWp), and Calatrava (173 MWp).
These additions helped offset the impact of scheduled plant outages and market pricing challenges, reinforcing the Group’s commitment to a more diversified and sustainable energy portfolio.
“With more renewable capacity coming online, AEV is shaping a future where clean and reliable energy powers Philippine development,” Aboitiz said.
Net income contribution from Union Bank of the Philippines amounted to P702.3 million for the first quarter, 28 percent lower than the P978.3 million recorded in the same period in 2024.
UnionBank posted an 8 percent year-on-year revenue increase supported by strong consumer lending growth and improved margins.
Aboitiz InfraCapital, Inc. ’s income contribution to AEV for the first quarter amounted to a loss of P207 million, a reversal from the P71.8 million profit recorded in the same period in 2024.
This was mainly the result of higher interest expense from its increased debt availments for its expansion which AEV views as a necessary step toward building a future-proof infrastructure platform.
AIC continued its aggressive expansion across nearly all segments, including transformative developments in the airport sector. These projects are expected to boost regional connectivity, tourism, and local economies, aligning with the national infrastructure agenda.
AEV’s food and beverage segment delivered strong results with a 54 percent increase in net income to P1.4 billion driven by improved margins in flour and agribusiness of Aboitiz Foods, and the full contribution from Coca-Cola Europacific Aboitiz Philippines (CCEAP), highlighting the benefits of operational scale and synergy.
AEV closed the quarter with P926.9 billion in assets, up 4 percent from year-end 2024. It maintained a strong financial position with a current ratio of 1.0x and sound leverage levels.
“As the Aboitiz Group’s portfolio manager, AEV is leading our bold transformation into the Philippines’ first techglomerate,” Aboitiz said.
“Our mission goes beyond profit — we are committed to building a nation that thrives on innovation, sustainability, and inclusive progress.”