Manila Water income up 3%
In a regulatory filing, the company said revenues went up four percent to P9.1 billion while EBITDA (earnings before interest, taxes, depreciation and amortization) was flat at P6.1 billion. File
MANILA, Philippines - Ayala-led and east zone concessionaire Manila Water Co. Inc. reported a three percent increase in net income in the first half to P3.2 billion owing to higher revenues and growth in billing volume in most of its concession areas.
In a regulatory filing, the company said revenues went up four percent to P9.1 billion while EBITDA (earnings before interest, taxes, depreciation and amortization) was flat at P6.1 billion.
Billed volume rose three percent to 367 million cubic meters (mcm) across all units — except for Kenh Dong Water which registered a two percent decline to 28.4 mcm.
Billed volume in its Metro Manila concession area inched up by a minimal one percent to 242.2 mcm while the billed volume of its Boracay Island Water grew 10 percent to 2.7 mcm.
The billed volume of Laguna Water and Clark Water increased 19 percent, and seven percent, respectively.
Billed volume in Cebu Water also grew 24 percent, Estate Water (360 percent) and Thu Duc Water (two percent).
Meanwhile, total water service connections in the east zone rose three percent to 946,000.
The number of service connections of Laguna Water increased nine percent while those of Estate Water and Clark Water jumped 127 percent and one percent, respectively. Boracay Water service connections slightly dropped.
The east zone which encompasses parts of Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig, Marikina, most parts of Quezon City, portions of Manila, as well as several towns in Rizal.
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