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Manila Water posts flat earnings in 9 months

MANILA, Philippines — Ayala-led and east zone concessionaire Manila Water Co. Inc. reported a nine-month net income of P4.9 billion, the same level as last year.

Total revenues went up three percent to P13.8 billion while EBITDA  (earnings before interest, taxes, depreciation and amortization) was also flat at P9.2 billion.

Total billed volume rose three percent to 554.4 million cubic meters (mcm) across all units — except for Kenh Dong Water which registered no increase.

Billed volume in its Metro Manila concession area inched up by two percent to 366.6 mcm while the billed volume of its Boracay Island Water grew 12 percent to 4.1 mcm.

The billed volume of Laguna Water and Clark Water increased 13 percent and nine percent, respectively.

Billed volume in Cebu Water also grew 17 percent, Estate Water (80 percent) and Thu Duc Water (0.3 percent).

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Meanwhile, total water service connections in the East Zone rose three percent to 955,000.

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