Manila Water posts flat revenue in 3 quarters

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.

In a regulatory filing, the company said revenues went up seven percent to P14.4 billion while earnings before interest, taxes, depreciation and amortization inched up three percent to P9.4 billion amid higher billed volume and additional service connections.

Total billed volume rose four percent to 619.8 million cubic meters (mcm) driven by the strong top-line of the Manila concession and expansion of its international operating subsidiaries.

Billed volume in its Metro Manila concession area grew three percent to 377.8 mcm following increase in billed connections to over 981,000 and an uptake in per capita consumption.

The east zone 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.

The number of service connections of Laguna Water inched up two percent, while those of Estate Water and Clark Water went up five percent and three percent, respectively.

Boracay Water service connections dropped by 10 percent.