Metro Pacific Investments Corp. (MPIC) reported a 15% rise in consolidated core net income for 2025 to P27.1 billion as its power, water, toll road and health care businesses contributed higher.
Contribution from operations reached P32.1 billion, a 13% increase, the infrastructure group said in a statement on Wednesday.
High power generation of Manila Electric Company (Meralco), Maynilad Water Services, Inc. Higher water charges, increases in traffic and toll rates, and the number of patients in the Metro Pacific hospital network drove the growth.
Power remained the group's largest contributor, accounting for P22.1 billion or 69% of total net operating income (NOI).
Meralco's core net income rose 12% to P50.6 billion. Revenue increased by 6% after retail power sales and availability of power generation.
The water segment, led by Maynilad, reported a 19% increase in core net income to P15.2 billion. Following an 8% tariff increase in January 2025, revenues increased by 9% to P36.6 billion. Non-revenue water reached 34.9%, compared to 39.9% in 2024.
Toll revenues of the Metro Pacific Tollways Corporation (MPTC) increased by 17% to P36.9 billion. Core net income for the segment rose 8%. After the reversal of contingent consideration related to acquisitions in 2024, reported net income was P6.2 billion, a decrease of 4%.
While core net income grew 15%, reported net income grew at a slower pace of 5%.
Management said the 2024 results included a “one-time gain from the subsidiary”, which created a high base for comparison despite “strong underlying performance” in 2025. At a fundamental level, MPIC reduced its net debt at the end of 2024 from P61.5 billion to P52.5 billion, while maintaining P7.9 billion of cash and cash equivalents.
MPIC Chairman, President and Chief Executive Officer Manuel V. Pangilinan said the group's results reflect stable demand for essential infrastructure services.
“Our results in 2025 reflect the steady demand for reliable infrastructure and the continued work of our teams across the group. Power, water, mobility and healthcare are essential services, and our focus has always been on improving how we deliver them to the communities we serve.”
He also cited external pressures affecting global markets.
“The global environment remains uncertain… At such times, our approach is to remain disciplined – managing our balance sheet carefully, focusing on operational efficiency and continuing to invest where the country needs infrastructure most. Looking ahead, our task is straightforward: growing responsibly while maintaining financial discipline. If we remain focused on execution and meeting the needs of the communities that depend on us, we believe the Group will remain resilient. End of the day In, our businesses exist to serve the country.”
MPIC is one of the three major Philippine units of Hong Kong-based First Pacific Co. Ltd., along with Philex Mining Corp. and PLDT Inc.
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