Meralco 2025 profit grows 12% to P50.6 billion

PANGILINAN-LED Manila Electric Co. (Meralco) achieved its P50-billion profit target for 2025, driven by power generation growth and contributions from its distribution business.

- Sheldeen Joy Talavera

(PHILIPPINE STAR FILE PHOTO)

The company’s 2025 consolidated core net income (CCNI), which excludes nonrecurring items to reflect underlying performance, rose 12% to P50.6 billion from P45.1 billion in the previous year, Meralco Chief Finance Officer Betty C. Siy-Yap said during a briefing on Tuesday.

Meanwhile, the company’s reported net income, which represents total profit including onetime gains and losses, climbed 11% to P51 billion from P45.9 billion in 2024.

Consolidated revenues grew 6% year on year to P497.3 billion, supported by higher distribution charges, increased power generation revenues, and higher volumes sold by the retail electricity supply (RES) business.

“Meralco had another record year in 2025 — marked by a double-digit growth in our CCNI and full-year profit that surpassed our target,” Meralco Chairman and Chief Executive Officer (CEO) Manuel V. Pangilinan said.

“These results were driven by the steady performance of the core distribution business and solid growth of the power generation business, supported by disciplined financial management,” he said. “Our strategy of maintaining a balanced mix of regulated and unregulated operations has served us well.”