AboitizPower’s first-half profit dropped 4% to P17.1b on depreciation costs

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Aboitiz Power Corp. said Tuesday it recorded a 4-percent decline in its first-half net income to P17.1 billion from P17.8. billion a year ago due to the depreciation and interest for GNPower Dinginin Ltd. Co.

“Our financial performance in the first half of 2024 is a testament to our strategic focus on operational efficiency and adaptability to market conditions,” AboitizPower president and chief executive Danel Aboitiz said. This also resulted in 6-percent EBITDA growth in the second quarter to P19.9 billion from P18.7 billion in the same period in 2023.

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MlaStandard /  🏆 20. in PH

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