Aboitiz Power Corp., the holding company for all energy-related investments of the AboitizGroup, saw net income plunge 43 percent to P19.5 billion in 2025 from P33.9 billion a year ago, dragged down by one-off losses even as its core operations gained momentum.

The company said in a Thursday disclosure that beneficial EBITDA rose 9 percent to P79.6 billion from P73.3 billion, helped by Chromite Gas Holdings, the rollout of solar projects in Laoag, Armenia, and Calatrava, and stronger second-half contracted capacity that offset weaker spot market prices.

"The growth was driven by higher margins in the Company’s Generation segment, primarily attributable to an increase in the Company’s contracted capacity," the company disclosure read.

Core net income, stripping out non-recurring items, dipped slightly to P33.1 billion from P33.7 billion. 

Excluding depreciation and interest from GNPower Dinginin Ltd. Co., which began being recognized in March 2024, earnings would have risen 2 percent.

Energy sales climbed 21 percent to 43,718 gigawatt-hours (GWh) from 36,004 GWh, pushing generation and retail EBITDA up 11 percent to P73.7 billion. 

Distribution sales also rose, with energy delivered up 4 percent to 6,927 GWh and EBITDA contribution edging 2 percent higher to P8.9 billion.

AboitizPower operates a nationwide portfolio of renewable and thermal power assets and is pursuing a major expansion of its clean energy capacity by 2030 through Abotiz Renewables, Inc.