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ACEN income up 49% in 6 months
The Philippine Star
|August 09, 2024
Earnings of Ayala-led ACEN Corp. jumped by 49 percent to P6.3 billion in the first half from P4.2 billion a year ago, powered by a strong renewable output.
Attributable renewable energy (RE) generation grew by 42 percent during the period due to new operating capacity, which also enabled ACEN to strengthen its net selling position in the power spot market.
Revenues, on the other hand, dipped by 5.9 percent to P19.3 billion from P20.5 billion as electricity sales and rental income declined, while costs and expenses narrowed by 25 percent to P13 billion from P17.3 billion.
"We have strong momentum on the back of a robust increase in operating earnings and steady progress with our project pipeline," ACEN president and CEO Eric Francia said in a statement yesterday.
Dit verhaal komt uit de August 09, 2024-editie van The Philippine Star.
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