The Alcantara family’s Alsons Consolidated Resources Inc. leaned on rising electricity demand in Mindanao to deliver stronger first quarter earnings despite growing geopolitical and economic uncertainty.
Net income rose 15 percent to P543 million while revenues climbed 12 percent to P3.36 billion, signaling that power demand in the southern Philippines remained resilient even as global volatility intensified.
Net income attributable to the parent company surged 64 percent to P223 million, highlighting improving profitability across the group’s core energy assets.
Management’s view
“The current geo-political tensions have caused major economic shifts not only for the Philippines, but in other economies around the world,” chief finance officer Roberto P. Ramos said in a statement.
“Yet amid this evolving landscape, our commitment to powering communities with care remains steadfast,” he added.
Shares of the company, listed under the symbol, have climbed about 68 percent this year to P0.79 apiece.
This was fueled by speculation over the Alcantara Group’s exposure to the Tampakan mining project and expectations that long-stalled development activities could regain momentum.
Retail power and spot market gains expand
Sarangani Energy Corp. remained the group’s biggest earnings driver as stable power generation continued supporting recurring revenues and margins.
Alsons also benefited from stronger participation in the Wholesale Electricity Spot Market and continued growth in its retail electricity supply business, which now supplies 118 megawatts to customers.
“Despite the challenging global environment and the shifting market conditions, we remain focused on reliable operations, disciplined execution, and prudent cost management,” Ramos said.
Solar pipeline grows
The Alcantara-led company is also accelerating renewable energy investments as it pushes ahead with two large-scale solar projects in Mindanao.
The expansion is expected to strengthen Alsons’ long-term power portfolio as electricity demand in Mindanao continues growing alongside industrial and commercial activity.
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