AboitizPower earnings up 6% to P20.4B in 2018
Aboitiz Power Corp. said its net income rose six percent to P20.4 billion.
Excluding non-recurring losses of P2.1 billion, AboitizPower’s core net earnings inched up by two percent to P23.8 billion.
The company’s generation and retail supply business saw earnings expand by eight percent to P43 billion, driven by the fresh contributions from Pagbilao Energy Corp. and Hedcor Bukidnon.
AboitizPower’s distribution business likewise grew its EBITDA by six percent to P8.2 billion. Energy sales went up five percent to 5,540 gigawatt- hours (GWh) due to increased consumption levels across all customer segments.