Meralco forecasts P50B earnings for 2025, up 10% YTD

Manila Electric Co. (Meralco) expects its earnings for 2025 to exceed last year's P45.1 billion, with a projected consolidated core net income of P50 billion, according to Chairman and CEO Manny Pangilinan.

In the first half of 2025, Meralco reported a 10% increase in earnings to reach P25.5 billion, surpassing the profit guidance from last year's P43 billion target.

Revenues grew by 6% to P470.4 billion due to higher distribution utility volumes and increased pass-through transmission charges, with the distribution business accounting for 54 percent of consolidated core net income at P13.7 billion.

Meralco’s power generation arm contributed significantly, increasing its share from 27% in 2024 to 37%, equivalent to P9.4 billion of the consolidated core net income.

Chairman Pangilinan expressed optimism about achieving key milestones that will enable Meralco to meet its full-year profit target and business goals, with a focus on expanding generation capacities starting from 2026.

Meralco serves over eight million customers in Metro Manila and nearby areas and recently received a 25-year franchise extension from President Ferdinand R. Marcos Jr., positioning the company for continued growth.