Manila Water net income up 14% in Q1 2025

Manila Water Company Inc. saw its net income grow to P3.6 billion in the first quarter of 2025, up 14% year-on-year, on the back of continued strength in its east zone concession and non-east zone (NEZ) businesses.

In a news release on Friday, Manila Water said its consolidated revenues hit P9.5 billion, up 8% "driven by implemented tariff adjustments in the east zone concession and several NEZ Philippine businesses."

The company said its east zone concession saw an 8% growth in revenues to P7.6 billion, "driven primarily by the implementation of the third tranche of the Rate Rebasing tariff adjustment in January 2025."

Meanwhile, Manila Water's NEZ Philippine posted revenues of P2.2 billion, up 16% year-on-year.

The water utility added that its international business saw its equity share in net income increase to P124 million.

Manila Water said its group-wide capital expenditures hit P4.8 billion for the first quarter of 2025, with the east zone concession accounting for 83% of total at P4 billion. 

"These investments involve projects to augment water supply, ensure reliable service, and continue expansion of wastewater treatment capacity and coverage," it said. — VDV, GMA Integrated News