ACEN reports profit soars 411% to P3.9B in six months

ACEN Corp., the listed energy platform of conglomerate Ayala Corp., reported first-half net profit surged more than fivefold to P3.9 billion, driven by new plant contributions, higher contracted sales and stronger domestic wholesale power prices.

Consolidated revenues jumped 47% to P23.13 billion, the company said in a stock exchange filing.

Attributable earnings before interest, taxes, depreciation and amortization increased 40% toP 14.7 billion, aided by a 21% rise in renewable energy generation to 4,024 gigawatt-hours.

The results marked a sharp rebound from 2025, when ACEN’s operations were affected by grid curtailment and adverse weather conditions. The company has also been expanding contracted power sales and battery storage as it grows its renewable energy portfolio.

“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,” president and CEO Eric Francia said.

In the Philippines, generation rose 17% to 1,091 gigawatt-hours, helped by improved availability at wind farms in Ilocos Norte.

Domestic revenue rose 41% to P23.6 billion, buoyed by a 29% increase in spot market prices to P4.90 per kilowatt-hour amid higher summer demand and fossil fuel plant outages.

Earnings were also supported by ACEN’s retail electricity supply business and the full implementation of a 160-megawatt supply contract with Manila Electric Co.

In Australia, generation rose 56% to 862 gigawatt-hours on full contributions from Stubbo Solar and reduced grid curtailment at New England Solar, lifting EBITDA 35% to P1.2 billion.

Generation across the Mekong region climbed 19% to 996 gigawatt-hours, driven by a full six-month contribution from the Monsoon Wind project in Laos. EBITDA jumped 35% to P4.2 billion.

In India, EBITDA increased 31% to P764.4 million on steady generation and lower operating costs.

ACEN’s attributable renewable energy portfolio stood at 7,517 megawatts at the end of June, with 57% operational.

The company also broke ground on 775 megawatts of battery storage projects in the Philippines during the period, while reducing its equity interests in some projects under construction in India.