Maynilad nets P4B in Q1 2026, up 10.3%

Maynilad Water Services Inc. saw its net income climb by 10% to P4 billion in the first quarter of 2026 from P3.6 billion in the same period last year.

“Our first quarter results reflect steady execution across both our operations and investment programs. We continue to see improvements in service reliability and water availability while sustaining strong financial performance. As we move forward, our focus remains on strengthening the system, reducing losses, and ensuring that our investments translate into better service for our customers,” said Maynilad president and CEO Ramoncito Fernandez.

In a statement on Wednesday, Maynilad reported revenues of P9.1 billion, up 6.2% from P8.6 billion year-on-year, driven by higher billed volume and an expanding customer base.

Maynilad's total billed connections rose to 1.58 million, up 1.5%, while total billed volume grew by 2.3% to 136.1 million cubic meters.

The company said its service coverage also increased to 94.9% from 94.7%, with 24-hour water availability improving to 97.9% from 96.8%.

Moreover, supply at a minimum pressure of seven PSI (pounds per square inch) rose to 91.5% from 90.1%.

Maynilad added its non-revenue water (NRW) declined further to 30.7% as of March 31, 2026, while the first quarter average stood at 32% compared to the previous year’s levels of 36.2% (period-end) and 37.8% (first quarter average), “reflecting sustained implementation of leak detection, pipe replacement, and network optimization initiatives.”

The water distributor said it also continued to expand its wastewater and sanitation services, with sewerage coverage increasing to 26% from 25% and sanitation coverage improving to 58% from 55%.

Accounts offered sanitation services rose 15% to 28,264 from 24,576, while septic tanks emptied increased by 48.3% to 1.3 million from 877,286.

“These improvements support the company’s environmental commitments and compliance with wastewater service obligations,” Maynilad said.

The company’s capital expenditures during the period amounted to P5.4 billion, up 11.6% from P4.9 billion a year ago.

Broken down, Maynilad’s capex went to wastewater treatment expansion at P2.1 billion, water source development at P1.1 billion, NRW management at P985.8 million, and operations support and system upgrades as well as customer service and IT enhancements.

Maynilad said that these investments align with its long-term strategy to enhance service reliability and system resilience. —VBL, GMA News