MVP-led Metro Pacific Investments grows first half 2024 profit by 27%

Strong contributions from electricity, expressways, and water drove a 27 percent increase in core earnings for Manuel V. Pangilinan-led Metro Pacific Investments Corp., reaching P12.5 billion in the first half of the year.

These segments contributed P10.1 billion or 68 percent of net operating income. Overall, reported net income increased by 23 percent, reaching P12.5 billion compared to P10.2 billion in the same period in 2023.

Management’s view 

“Our power, toll roads, and water business continued to deliver double-digit growth in earnings

on the back of strong volumes and the impact of long overdue tariff adjustments,” said Pangilinan, the chair, president and CEO of Metro Pacific. 

 “With MPIC continuing to maintain a low cost of capital in a rising interest rate environment, the company is poised to maintain its strong growth trajectory for the rest of the year,” he added. 

Manuel V. Pangilinan 
Metro Pacific Investments Chair, President & CEO 

Power and toll roads 

Manila Electric Co. revenues increased by 6 percent to P237.5 billion, driven by a 9 percent rise in energy sales, which resulted in a 21 percent boost in core net income to P23.2 billion. 

Metro Pacific Tollways saw an 18 percent rise in toll revenues to P15.4 billion, fueled by toll rate hikes and increased traffic, leading to a 25 percent increase in core net income to P3.4 billion.

Water contributions increase  

Meanwhile, Maynilad’s revenues grew by 23 percent to P16.4 billion, thanks to a 4 percent increase in billed volumes and higher tariffs, which drove a 29 percent rise in core net income to P5.6 billion.

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