Manila Water reports P10.97B net income, up 87%

Manila Water Co., Inc., led by Razon, reported an attributable net income of P10.97 billion for 2024, marking an 87% increase from the previous year.

The company attributed this growth to higher revenues in its East Zone concession and significant contributions from non-East Zone businesses, with total revenues rising by 19% to P36.65 billion.

Manila Water's president, Jose Victor Emmanuel 'Jocot' A. de Dios, highlighted the substantial growth of Non-East Zone businesses, which more than tripled earnings to exceed P2 billion.

The company provides water supply and sanitation services to over 7.3 million customers in Metro Manila and Rizal province, as well as operations in Laguna, Clark, Boracay, and Estate Water.

Despite the strong local performance, Manila Water's international business saw lower contributions from minority investments in Thailand and Vietnam while continuing to assess its portfolio for future opportunities.

The firm spent P26.3 billion in capital expenditures last year, complementing these revenue gains with ongoing cost management and operational efficiency initiatives.