Maynilad bullish on growth after P15-B profit

Pangilinan-led Maynilad Water Services, Inc. is setting the pace for the next phase of expansion after posting a robust 2025, with consolidated net income surging 19 percent to P15.2 billion from P12.8 billion in 2024. 

At a media briefing on Tuesday, Maynilad President and CEO Ramoncito S. Fernandez said the company will sustain growth through infrastructure spending, efficiency gains, and disciplined capital allocation.

“2025 marked strong consolidated financial performance alongside meaningful service improvements,” Fernandez said. 

“We remain focused on disciplined capital allocation, operational efficiency, and long-term value creation while fulfilling our service obligations,” he added. 

Based on the company’s full-year financial report, revenues climbed 9.4 percent to P36.6 billion, boosted by approved tariff adjustments and steady billed connections. 

EBITDA, another profit measurement, jumped 14.9 percent to P25.3 billion, with margins rising to 69 percent, even as cash operating expenses crept up only 1.5 percent due to non-revenue water (NRW) reduction initiatives that recovered 256 million liters per day.

Adjusted net income, which adds back depreciation and amortization, hit P19.0 billion.

Operational metrics reinforce the financial momentum. Average NRW fell to 34.9 percent from 39.9 percent in 2024, with year-end NRW at 30.7 percent. 

Service coverage remains high, with 24/7 water access at 91.9 percent and sewer expansion reaching 26.5 percent.

Record capital expenditures of P26.9 billion strengthened water supply, network, and sewer infrastructure, lifting Maynilad’s Interim 

Cash Position to P163.9 billion, 63 percent higher than the P100.4 billion Opening Cash Position recognized by the MWSS-Regulatory Office.

The board declared a cash dividend of P1.14 per share, totaling roughly P8.44 billion, surpassing the company’s minimum payout policy.