Maynilad Water Services Inc., the water concessionaire for the west zone of Metro Manila, said its consolidated net income climbed 19 percent to P15.2 billion in 2025, driven by tariff adjustments, stable billed connections and sustained operating efficiencies.
Revenues rose 9.4 percent to P36.6 billion from P33.5 billion a year earlier, the company said Tuesday in a disclosure to the stock exchange.
“FY 2025 marked strong consolidated financial performance alongside meaningful service improvements,” said Maynilad president and chief executive Ramoncito Fernandez. “We remain focused on disciplined capital allocation, operational efficiency, and long-term value creation while fulfilling our service obligations.”
Non-revenue water, or NRW, averaged 34.9 percent in 2025, down from 39.4 percent a year earlier, with year-end NRW at 30.8 percent.
The reduction translated to roughly 256 million liters per day of recovered water, equivalent to the output of more than one treatment plant. Water service coverage improved to 95 percent, while 24/7 supply at minimum pressure reached 91.9 percent. Sewer coverage expanded to 27 percent, bringing combined wastewater coverage to 96.2 percent.
The company declared cash dividends of P1.14 per share, equivalent to about P8.4 billion, payable March 18 to shareholders of record as of March 9.
In 2025, Maynilad spent a record P26.9 billion in capital expenditures. Investments were directed toward water source development, network resiliency, NRW management and wastewater expansion.
For 2026, Maynilad expects business to be supported by a projected 2 percent increase in billed volume, a single-digit tariff adjustment under its approved business plan, and continued efficiency gains from NRW reduction.
The water utility firm targets reducing NRW to 25 percent by 2027 and 20 percent by 2030, in line with international benchmarks.
Capital expenditures in 2026 are expected to exceed 2025 levels, with major projects including the Vanessa Lagoon Reservoir and the Cabuyao Wastewater Treatment Plant scheduled for completion this year. Management said project timelines vary, with large treatment facilities typically requiring four to five years from development to operations.
