A surge in demand and a growing customer base propelled a significant financial upswing for the water provider, with first-quarter profits climbing 10.3% to reach P4 billion. This impressive growth signals a period of robust performance, fueled by increased water consumption and a steady expansion of its service network.
Revenues mirrored this positive trend, rising 6.2% to P9.1 billion compared to the previous year’s P8.6 billion. This increase demonstrates the company’s ability to effectively translate increased volume and customer connections into substantial financial gains.
Underlying the revenue growth was a strong operational performance, reflected in a 7.6% increase in earnings before interest, taxes, depreciation, and amortization, reaching P6.5 billion. A healthier margin of 43.9% further underscored the company’s improved efficiency and profitability.
The number of billed connections expanded by 1.5% to 1.68 million within the first three months, while the total water volume billed rose by an even more substantial 2.3% to 136.1 million cubic meters. This growth was largely driven by increased demand from residential customers, which saw a 3% increase.
Beyond expansion, the company made significant strides in resource management, dramatically reducing water losses. Non-revenue water – water lost through leaks, theft, or inaccuracies – decreased from 36.2% to 30.7% during the same period, representing a substantial improvement in efficiency.
This commitment to improvement wasn’t just about fixing leaks; it was backed by significant investment. Capital expenditures reached P5.4 billion, an 11.6% increase from the previous year’s P4.9 billion, demonstrating a dedication to infrastructure upgrades and long-term sustainability.
Company leadership attributed the positive results to ongoing strategic investments and operational enhancements. They emphasized a continued focus on bolstering the system’s reliability and ensuring consistent water availability for a growing population.
The core mission remains clear: to minimize losses, strengthen infrastructure, and translate these investments into tangible benefits for customers. This dedication to service improvement is central to the company’s long-term vision.
Serving 11 cities within Metro Manila, with partial coverage in three others, and extending into parts of Cavite province, the company is a vital lifeline for a large and expanding urban population. Its reach and responsibility are considerable.
The company operates as a key component within a larger investment portfolio, backed by significant stakeholders committed to long-term growth and development within the Philippines.
