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First Gen nets $245 M in 2024
The Philippine Star
|March 23, 2025
First Gen Corp. of the Lopez Group saw its earnings slide last year due to increased expenses, coupled with lower contributions from its green energy business.
The country's third-largest power producer reported an attributable recurring net income of $245 million (P14 billion) in 2024, down by 12 percent from $277 million (P15.4 billion) in 2023.
The decline was attributed to the combined impact of lower revenues and higher cash operating expenses of the geothermal business following its drilling operation program last year.
This story is from the March 23, 2025 edition of The Philippine Star.
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