Metro Pacific Reports P23.6 Billion Income with Double-Digit Growth in Core Businesses

Metro Pacific Investments Corporation, under the leadership of Manny V. Pangilinan, remains optimistic about its future prospects as the majority of its operations are focused on essential industries. In 2024, the conglomerate saw significant growth in its core businesses, particularly in utilities and toll roads, with double-digit increases in revenue.

The consolidated net income of Metro Pacific Investments Corporation reached a record high of P23.6 billion in 2024, marking a 21% rise from the previous year. The company’s Chief Finance, Risk, and Sustainability Officer, Chaye Cabal-Revilla, highlighted that power and water were the primary drivers behind this growth. Meralco, a subsidiary of MPIC, experienced a 6% increase in revenues, reaching P470.4 billion, while its core net income grew by 22% to P45.1 billion. The rise in energy consumption, particularly in the commercial and residential sectors, played a significant role in Meralco’s performance.

On the other hand, Maynilad, MPIC’s water subsidiary, saw a 23% growth in revenues to P33.5 billion, with core net income surging by 40% to P12.8 billion. This increase was attributed to higher billed volumes and a tariff adjustment in early 2024. Additionally, Metro Pacific Tollways Corporation reported a 16% rise in toll revenues to P31.6 billion, supported by toll rate adjustments and traffic growth.

Looking ahead to 2025, Metro Pacific Investments Corporation plans to increase its capital expenditures by 15% following a successful year in 2024. The company remains committed to investing in its core businesses, with a focus on expansion and improvement of service quality. Meralco will continue to invest in its solar plant facilities, while Maynilad aims to enhance its service offerings. The conglomerate is optimistic about the future, as its operations are centered around essential services that are crucial regardless of the economic environment.

In conclusion, Metro Pacific Investments Corporation’s strong performance in 2024 underscores its resilience and potential for growth in the coming years. With a strategic focus on essential sectors and ongoing investments in infrastructure, the company is well-positioned to capitalize on future opportunities and deliver continued value to its stakeholders.