Rappler
Metro Pacific books P23.6B income as core businesses post double-digit growth
Metro Pacific Investments Corp. (MPIC) achieved a record-high core earnings of P23.6 billion in 2024, a 21 percent increase from P19.5 billion in 2023, driven by its utility units.
MPIC's net income saw a substantial surge of 41 percent, reaching P28.2 billion due to strong volumes and tariff adjustments.
Manila Electric Co. (Meralco) was the primary contributor to MPIC's growth, with revenues increasing by 6 percent to P470.4 billion.
Meralco's consolidated core net income grew 22% to P45.1 billion, surpassing the previous summary's P45.9 billion.
People and businesses in Meralco's coverage area consumed more energy in the past year, with a 6% volume growth to 54,325 gigawatt hours (GWh).
Metro Pacific Tollways Corp. experienced a 16 percent revenue increase to P31.6 billion, attributed to toll rate hikes and increased domestic traffic.
Maynilad Water Services Inc. reported a 23 percent revenue growth to P33.5 billion, boosted by higher billed volumes and a tariff adjustment implemented in January 2024.
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