Infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) posted a 15 percent increase in consolidated core net income to P27.1 billion in 2025, up from P23.6 billion in 2024, on the back of stronger contributions from its power and water businesses.
Contribution from operations rose 13 percent to P32.1 billion, driven by improved financial and operational performance across its portfolio.
The growth was supported by robust expansion in the power generation business of Manila Electric Co. (Meralco), the implementation of higher tariffs at Maynilad Water Services Inc. and higher patient volumes across the Metro Pacific Hospitals network.
MPIC chairman, president and chief executive Manuel Pangilinan said in a statement that the company would remain focused on financial discipline and operational efficiency amid global uncertainties.
“The global environment remains uncertain, with ongoing geopolitical conflict in the Middle East and other external pressures affecting energy markets and investor sentiment. In times like this, our approach is to stay disciplined — manage our balance sheet carefully, focus on operational efficiency, and continue investing where the country needs infrastructure the most,” Pangilinan said.
Among MPIC’s core businesses, the power segment remained the largest contributor, accounting for P22.1 billion, or 69 percent of net operating income. The water and toll roads units contributed P7.2 billion and P6.1 billion, respectively.
Despite the strong operating performance, reported net income grew at a slower pace of 5 percent, as the previous year’s results included a one-time gain from a subsidiary that tempered year-on-year comparisons.
Manila Electric Co. booked consolidated core net income of P50.6 billion, up 12 percent year over year, supported by stronger contributions from both power generation and distribution businesses.
Maynilad Water Services Inc. saw its core net income increase 19 percent to P15.2 billion, driven by higher revenues and improved network efficiency.
Toll road operator Metro Pacific Tollways Corp. (MPTC) reported a 4 percent decline in net income to P6.2 billion, as the previous year included the reversal of contingent considerations related to the Jakarta-Cikampek Elevated Toll Road acquisition.
Toll revenues rose 17 percent to P36.9 billion, supported by toll rate adjustments and traffic growth across its expressway network.
Average daily vehicle entries increased 2 percent in the Philippines to 719,396 and 1 percent in Indonesia to 1.65 million, while traffic in Vietnam declined 7 percent to 70,850.
