MacroAsia 9M net income falls 42.3% to P669.6M

MacroAsia Corp. reported a 42.3% decline in consolidated net income to P669.6 million in the first nine months of 2026, as higher operating costs and weaker earnings contributions from associates offset growth in its food services, ground handling and water businesses.

Consolidated net revenues increased 4.7% to P7.76 billion from P7.41 billion a year earlier. However, direct costs climbed 8.6% to P6.36 billion, narrowing gross profit by 10% to P1.4 billion.

Net income attributable to the parent company fell 45.2% to P560.4 million from P1.02 billion.

MacroAsia president and chief operating officer Eduardo Luis T. Luy said its core businesses remained resilient despite cost pressures and restructuring expenses at Lufthansa Technik Philippines.

“While cost pressures remain, we are confident that our diversified businesses, ongoing efficiency measures, and strategic investments will position MacroAsia for progressive margin recovery and stronger long-term earnings,” Luy said.

Food services revenue rose 9% to P3.87 billion, supported by a 19% increase in meal volume to 23.33 million. Ground handling and aviation services revenue grew 5% to P3.28 billion, while water operations revenue increased 6% to P569.7 million.

The company’s share in net earnings of associates declined 29.8% to P680.9 million, mainly due to lower contributions from Lufthansa Technik Philippines and Japan Airport Service.

MacroAsia is expanding its capacity through projects including a 20-million-liter-per-day desalination plant in Cebu, a P2-billion water facility in Iloilo and a P1.2-billion commissary expansion in Muntinlupa.

Luy said the company remains focused on protecting profitability, maintaining financial discipline and creating sustainable value for shareholders.