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Aboitiz Power Corp. said Monday it posted a 4-percent net income growth in the first quarter to P7.9 billion from P7.5 billion in the same period last year on higher power generation.
“AboitizPower continued its strong performance in the first quarter of 2024, building on its successful 2023. This momentum reflects the effectiveness of our investments and growth strategies, which further reinforces our dedication to providing reliable, affordable, and sustainable power while driving the nation’s development,” said AboitizPower president and chief executive Emmanuel Rubio.
The segments had earnings before interest, taxes, depreciation and amortization of P13.8 billion in the first quarter, higher than P13.1 billion in the same period last year.Its distribution business increased its energy sales by 9 percent to 1,526 GWh from 1,404 GWh on higher demand driven by the effect of the El Niño phenomenon.
“Looking ahead, we’re excited about the new growth drivers emerging this quarter. By leveraging these opportunities, we remain confident in our ability to unlock shared success for all our stakeholders,” Rubio said.
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