ACEN H1 net income spikes to P3.9B

MANILA, Philippines — ACEN Corp., the listed power arm of the Ayala Group, saw its earnings in the first semester soar by over fivefold fueled by robust generation growth and energy sales.

On Tuesday, the renewable energy producer said its first-half consolidated profit surged by 411 percent to P3.9 billion from P763 million a year ago.

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It added that revenues from sale of electricity also significantly rose to P22.51 billion from P15.3 billion in the same period last year.

The group’s attributable earnings before interest, taxes, depreciation, and amortization stood at P14.7 billion, a 40-percent improvement from the first half of 2025.

Driving its net income, ACEN said its Philippine operations, the firm’s core market, generated 1,091 gigawatt hours (GWh), up 17 percent, following the better performance of its wind assets in Ilocos Norte. This was complemented with a 29-percent increase in local spot market prices, hitting P4.90 per kilowatt hour.

“ACEN’s performance in the first half of 2026 underscores our recovery from the challenges of the previous year while reflecting the company’s transition into a phase of measured growth,” Eric Francia, ACEN president and CEO, said in a statement.

“Amid a continually uncertain environment, our priorities remain clear – protecting our balance sheet, growing our contracted energy sales, and expanding our energy storage asset base,” he added.

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Its business in Australia, meanwhile, booked a 56-percent generation growth reaching 862 GWh. In India, ACEN’s attributable output was stable at 476 GWh.

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Attributable output from the rest of its operations abroad rose to 196 GWh. Aside from the Philippines, Australia and India, ACEN has footprints in Vietnam, Lao PDR, and Indonesia.

“The growing global emphasis on indigenous renewable energy presents significant opportunities for ACEN,” said Jonathan Back, ACEN CFO and chief strategy officer.

“We intend to benefit from this growth while maintaining a prudent, financially disciplined path forward, including continued focus on cost management across all our businesses,” Back said. /pai