Link: https://links.sgx.com/1.0.0/corporate-announcements/2K52F2POL6DXMKFJ/f6890e9950533863d0ce94603a79d1a9770330fe9b3ce36d10bf114669a2e6d2

Summary:

• Group revenue dropped 16% year-on-year to ₱27.3 billion for nine months ended 30 September 2025, with power operations and slower JV contributions as main drag.

• Net income attributable to equity holders slumped 58% to ₱4.24 billion; total net income fell to ₱4.99 billion (from ₱13.53 billion).

• EPS and bottom-line pressured by higher impairment losses (₱3.87 billion), lower power revenue, and increased finance expenses.

• Cash and cash equivalents declined to ₱18.95 billion (from ₱27.77 billion at December 2024), impacted by significant investments and financing activities.

• Net cash from operating activities fell 50% to ₱5.21 billion; group continues to invest heavily, with ₱17.53 billion spent on asset and project build-outs.

• Total assets grew to ₱414.4 billion; noncurrent asset expansion offset by tighter liquidity in the short-term.

• Liabilities rose to ₱226.7 billion amid higher borrowings and short-term loans.

• Equity position stable at ₱187.7 billion; gearing remains manageable and supports balance sheet strength for expansion.

• Management maintains cautious outlook given power sector volatility, but highlights discipline on asset deployment and ability to tap equity for growth.