The result marked its highest profit in years and reflected the success of its strategy to diversify revenue streams beyond core construction.
Total revenues climbed 18 percent to P22.1 billion, while earnings before interest, taxes, depreciation, and amortization (Ebitda) surged 67 percent to P4.7 billion.
Management’s view
“The broad-based growth achieved last year shows our ability to adapt to changing business landscapes, particularly in the office leasing and real estate markets, to sustain our momentum,” said Saavedra, the chair and CEO of Megawide.
“We complemented this with operational prudence to ensure that our topline gains will be preserved, as we navigate through global and local uncertainties,” he added.
Key figures
• Construction revenues rose 16 percent to P21 billion, making up 95 percent of total income.
• Pre-cast and construction solutions grew 28 percent to P5.22 billion, with 61 percent from external clients.
• Real estate revenues under PH1 World Developers hit P711 million, over 4x higher year-on-year.
• Project take-up reached P11 billion, driven by sales from My Enso Lofts, The Hive, and other developments.
Infra, real estate hold steady
Transport terminal operations at Parañaque Integrated Terminal Exchange (PITx) brought in P355 million. While 98 percent of commercial space was leased, office occupancy slipped to 60 percent after the Philippine Offshore Gaming Operator (POGO) ban took effect in December.
Operating income improved to P1.6 billion, with margins rising to 7 percent. Overhead expenses were managed tightly, rising just 14 percent despite broader operations.
Strong pipeline of projects
Megawide’s order book closed at P43.5 billion after securing P17.2 billion in new contracts. These include housing projects under the 4PH program in Cavite and the Cavite Bus Rapid Transit system connecting key cities to Metro Manila via PITx.
