AboitizPower core earnings dip to P33.1 billion on GNPower costs

ABOITIZ POWER CORP. (AboitizPower) saw its core earnings decline 1.7% to P33.1 billion in 2025, due to depreciation and interest expenses from GNPower Dinginin Ltd. Co. (GNPD).

Excluding the financial impact of GNPD, AboitizPower’s earnings would have risen 2%, the company said in a disclosure on Thursday.

Reported net income fell 43% year on year to P19.5 billion, driven by one-time losses of P13.9 billion from the acquisition of GNPower Mariveles Energy Center Ltd.

Meanwhile, the company’s generation and retail supply business recorded a 21% increase in energy sales to 43,718 gigawatt-hours (GWh).

As a result, earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 11% year on year to P73.7 billion.

Energy sold from AboitizPower’s distribution business increased 4% to 6,927 GWh. Excluding one-off items, the EBITDA contribution from the distribution segment rose 2% to P8.9 billion.

AboitizPower remains the Philippines’ leading power producer, with a 23.86% market share in the national grid as of July 2025, according to the Energy Regulatory Commission. — Sheldeen Joy Talavera