• Net income of P501 million puts the company almost at its full-year 2024 level
• Revenue rises to P12.3 billion on construction strength and faster real estate gains
• Short-term debt trimmed by P3.5 billion as leverage continues to ease
Megawide is closing in on its full-year profitability goal as nine-month net income reached P501 million which is already nearly the company’s profit for the entire year 2024.
The result reflects firm demand across its core operations and signals a likely outperformance versus the prior year.
The company drew P12.3 billion in revenue driven by its construction arm with deeper support from real estate and consistent landport operations.
“Our long-term growth roadmap is already gaining ground as we close the year. From a profitability standpoint we are on track to exceed our previous year’s performance while we plant the seeds for future growth and gear up for a more resilient sustainable and stable shareholder value creation,” said Megawide president and CEO Edgar Saavedra.
What is driving the top line
Construction operations remained the backbone of the business with P10.4 billion in revenue which made up 85 percent of consolidated sales.
Real estate revenue surged to P1.52 billion which is more than triple the previous year.
Project completions quickened the pace of recognition while sales doubled to P3.38 billion.
Fresh interest came from launches such as Lykke Condo and additional towers of One Lancaster Park which expanded the pipeline for future revenue.
Landport operations added P358 million helped by a steady passenger flow averaging over 168,000 daily through the end of September.
What management is signaling ahead
Megawide also focused on balance sheet repair. It retired P3.5 billion in short-term debt using proceeds from Citicore Holdings Investment Inc. as partial settlement of advances.
Group chief financial officer Jez dela Cruz said “The other half of our value creation strategy is to strengthen our financial position by retiring a significant portion of our debt over the next 12 months. Specifically we intend to pare down P10 billion worth of our outstanding short-term debt to improve leverage boost liquidity and enhance our profitability.”
The company’s debt to equity ratio improved to 1.86 times from 2.06 times on a consolidated basis. At the parent level leverage eased to 1.42 times compared with 1.69 times in December 2024.
—Edited by Miguel R. Camus
