Aboitiz Power Corporation Q2 2026 Earnings Recap

AboitizPower delivered largely in line with expectations, with a flat market reaction reflecting balanced operational growth and offsetting pressures. While generation EBITDA and revenues showed solid increases, modest margin headwinds and one-off expenses in the distribution segment weighed on overall sentiment.

Key Takeaways

• Beneficial EBITDA grew 27% year-on-year to PHP 43.3 billion, driven primarily by a 30% increase in Generation EBITDA supported by higher contracted volumes, better market prices, and recent capacity additions.
• Total beneficial revenue rose 28% to PHP 110 billion, benefiting from contributions from new solar assets and higher average bilateral and spot market prices.
• Distribution segment’s energy sales increased 6%, but EBITDA declined 3% to PHP 4.3 billion due to one-off costs offsetting volume gains.
• Renewable energy maintained a 27% market share with ongoing project developments and expansions in the green energy pipeline.
• Net debt improved slightly to PHP 258.5 billion with a reduced net debt-to-equity ratio of 1.17x, reflecting conservative balance sheet management.