ACEN net income drops 78% to $30.6m in 9M

The decline was driven by a $46m impairment on two Vietnam wind projects.

ACEN posted a consolidated net income of $30.6m (PHP1.8b) for the first nine months of 2025 (9M 2025), down 78% year-on-year (YoY).

Excluding these, net income fell 18% to $73.1m (PHP4.3b), affected by lower spot electricity prices in the Philippines and Australia, weaker solar conditions in key markets, and temporary outages of wind turbines in Northern Luzon, which have since been resolved.

Renewable energy output increased 16% YoY to 4,843 gigawatt-hours (GWh), supported by new capacity from Stubbo Solar in Australia and Monsoon Wind in Lao PDR.

Nonetheless, ACEN’s attributable renewables output rose 16% YoY to 4,843 GWh, driven by new contributions from Stubbo Solar in Australia and Monsoon Wind in Lao PDR.

Revenue declined 18% to $391m (PHP23b), driven by lower spot market prices and reduced output in the Philippines and Australia, partly offset by growth in other international markets and Philippine retail electricity sales.

Despite the revenue decline, core attributable EBITDA rose 9% to $265m (PHP15.6b), driven by a strong third quarter which saw a 37% increase in CAE.

Total attributable renewables output for 9M 2025 amounted to 4,843 GWh, a 16% increase YoY.

International assets generated 3,539 GWh, a 26% increase YoY, due to additional operating capacity and strong contributions from all markets.

$1 = PHP58.82