FGen H1 profit inches up

Lopez-led First Gen Corp. (FGen) reported a marginal net income growth of two percent year-on-year in the first half of 2025, with weaker performance from its geothermal and natural gas businesses offsetting gains.

- By GABRIELL CHRISTEL GALANG

In a disclosure filed with the Philippine Stock Exchange (PSE) on Tuesday, Aug.12, FGen said its net income slightly increased to P8.6 billion in the first six months of the year from P8.4 billion in the same period last year.

FGen President and Chief Operating Officer (COO) Francis Giles Puno said the slower growth is attributed to “slight headwinds” faced by the company.

“First Gen’s steady performance in the first half of 2025 was an achievement as the industry was affected by a softer increase in power demand, as well as lower electricity prices,” Puno stated. “We, however, continue to see challenging market conditions with the local economy not performing as strong as expected in 2025.”