Aboitiz Power Corp., the holding company for all energy-related investments of the AboitizGroup, is poised to surpass analysts’ expectations for its financial and operational performance this year, according to company president and CEO Danel C. Aboitiz.

Speaking to reporters, Aboitiz expressed confidence in the company’s trajectory, citing significant progress across its business segments.

“I think we’ll meet our targets. And I think we’ll exceed the consensus of the analysts. I don’t know if I can say more than that,” Aboitiz said.

Despite being tight-lipped about specific investment figures, Aboitiz cited the company’s overall performance, emphasizing improvements across various areas, including capacity expansion, distribution business growth, and infrastructure enhancements.

Small things add up

“General performance all across. We’ve got immense availability, more capacity coming online, growth in our distribution business, improvements in our infrastructure — so many, many small things all adding up,” he noted.

AboitizPower reported a net income of P27.3 billion for the first nine months of the year, a 2 percent increase from P26.7 billion during the same period last year, driven by a higher generation portfolio margin.

Core net income, excluding forex and derivative gains, rose 3 percent to P27.2 billion.

Notably, AboitizPower contributed the highest share in its parent company’s earnings during the period.

From January to September, the company sold 26,910 gigawatt-hours (GWh) of energy. The distribution segment saw an 8 percent increase in energy sales, reaching 4,939 GWh, spurred by higher demand from the El Niño phenomenon. Sales from residential, commercial, and industrial customers grew by 14 percent and 5 percent, respectively.

As of September, AboitizPower’s consolidated assets totaled P497.3 billion, a 2 percent increase from P487 billion at the end of 2023.

The company held P59.2 billion in cash, with interest-bearing liabilities at P240.1 billion. Equity attributable to the parent stood at P193.7 billion. The current ratio and net debt-to-equity ratio remained steady at 1.8x and 0.9x, respectively.