Alsons Consolidated Resources Inc. (ACR), the listed energy company of the Alcantara Group, reported a 15 percent increase in first-quarter net income to P543 million from P472 million a year earlier.
The company said on Friday that strong electricity demand in Mindanao and improved performance across its power businesses drove the growth, despite volatility in the global business environment.
Net income attributable to the parent company climbed 64 percent to P223 million from P137 million in the same period a year ago, while consolidated revenues rose 12 percent to P3.36 billion from P2.99 billion.
“The current geo-political tensions have caused major economic shifts not only for the Philippines, but in other economies around the world. Yet amid this evolving landscape, our commitment to powering communities with care remains steadfast,” ACR Chief Finance Officer Roberto P. Ramos said.
ACR said Sarangani Energy Corp. remained the key driver of revenues and earnings during the quarter, supported by sustained electricity demand in Mindanao.
The company’s Retail Electricity Supply unit also contributed to growth, with supply now reaching 118 megawatts to customers. Improved participation in the Wholesale Electricity Spot Market further boosted earnings during the period.
“Despite the challenging global environment and the shifting market conditions, we remain focused on reliable operations, disciplined execution, and prudent cost management to ensure that we continue delivering value to our customers and stakeholders,” Ramos added.
To strengthen its power portfolio amid rising Mindanao energy demand, ACR is advancing two large-scale solar projects currently under development in the region.