ACEN profit dips

Ayala-led ACEN Corp. reported a drop in its net income for the first half of 2025, primarily due to a onetime non-cash impairment of its two wind assets in Vietnam, along with lower electricity prices and higher operating costs.

- By GABRIELL CHRISTEL GALANG

In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, Aug. 5, ACEN said its consolidated net income saw an 88-percent decrease to P763 million in the first six months of the year, mostly driven by the P2.7-billion impairment from its Lac Hoa and Hoa Dong wind farms in Vietnam.

Its net income subsequently declined by 24 percent to P1.35 billion due to lower prices in the Wholesale Electricity Spot Market (WESM), along with increased depreciation.

ACEN’s markets in the Philippines and Australia faced challenges, including lower solar irradiance, higher plant-related costs like depreciation, and ongoing wind turbine repairs in the Philippines.

Eric Francia, ACEN president and chief executive officer (CEO), assured that the company is looking for strategies to raise its capacities and improve investments in energy storage.