Aboitiz Equity Ventures Inc. (AEV) kept its earnings largely steady in 2025, posting a reported net income of P18.3 billion, up only 1 percent from P18.1 billion a year earlier despite a P7.2 billion impairment booked by its power unit.
The conglomerate said in a Friday stock exchange report that consolidated core net income reached P25.5 billion for the full year, unchanged from 2024.
Non-recurring charge
The non-recurring charge was largely related to the partial impairment of the GNPower Mariveles Energy Center booked by power arm Aboitiz Power Corp.
AboitizPower remained the largest contributor to AEV’s earnings, accounting for 46 percent of total net income contributions from the group’s strategic business units.
The food and beverage segment followed with 33 percent, while banking and financial services contributed 22 percent.
AboitizPower generated P79.6 billion in EBITDA in 2025, up 9 percent from P73.3 billion a year earlier, driven by fresh contributions from Chromite Gas Holdings Inc. and new renewable energy facilities, including solar plants in Laoag, Armenia and Calatrava.
Power firm’s core net income
For the full year, the power firm recorded P33.1 billion in core net income, while reported net income reached P19.5 billion after accounting for impairments and other non-recurring items. The business contributed P10.4 billion in net income to AEV.
Banking unit Union Bank of the Philippines reported a net income of P10 billion in 2025 while total revenues rose 7 percent year-on-year to P83.2 billion, supported by higher net interest income and continued growth in its loan portfolio.
As of end-2025, UnionBank’s total assets reached P1.2 trillion, with loans amounting to P537.7 billion. The bank contributed P5 billion in net income to AEV.
The food and beverage segment posted a net income contribution of P7.6 billion, up 28 percent from P5.9 billion in 2024, driven by strong volumes and margins from Aboitiz Foods across its flour, farms, livestock and trading businesses.
Coca-Cola’s full year contribution
The segment’s performance was also supported by the full-year contribution of Coca-Cola Europacific Aboitiz Philippines Inc. following its financial close on 23 February 2024.