Meralco posts ₱50.6B profit in 2025, up 12%

Power distribution firm Manila Electric Company (Meralco) reported a double-digit growth in its consolidated core net income (CCNI) for 2025.

At a briefing in Makati City on Wednesday, Meralco executives, led by Chairman and CEO Manuel Pangilinan, said the power company booked a CCNI of P50.6 billion, up 12% from P45.1 billion in 2024.

Meralco’s distribution utility business accounted for the lion’s share at 58%, or P29.6 billion, while the power generation segment contributed P16.8 billion.

The company’s retail electricity supply and non-electricity businesses added a combined 9%, or P4.2 billion.

“Meralco had another record year in 2025—marked by double-digit growth in our CCNI and a full-year profit that surpassed our target," Pangilinan said.

"These results were driven by the steady performance of the core distribution business and solid growth in power generation, supported by disciplined financial management," he added.

Pangilinan said that the company’s strategy of maintaining a balanced mix of regulated and unregulated operations had "served (it) well."

In 2025, Meralco’s capital expenditures totaled P108.9 billion, with 73% (P80 billion) allocated to MGen’s 3,500-megawatt MTerra Solar and other renewable energy plants.

Meanwhile, P38.5 billion was spent on distribution, including new connections, asset renewals, load growth, and pole relocation to support government infrastructure projects.

As of year-end 2025, Meralco’s consolidated customer base reached 8.2 million, up 2% year-on-year.—MCG, GMA Integrated News