VIVANT Corp. is banking on renewable energy and water ventures to sustain earnings growth in the second half of 2025, following an 11 percent rise in core net income in the first six months of the year.
The Cebu-based listed company said its development teams in energy and water are working to roll out new projects that align with government priorities on energy security and sustainability.
Vivant is preparing to participate in the Department of Energy’s fourth round of the Green Energy Auction (GEA-4), where it aims to expand its renewable energy capacity as part of its “30 percent by 30” target to achieve a 30 percent renewable portfolio by 2030. The company also expects its 22-megwatt (MW) solar project in San Ildefonso, Bulacan, to begin commercial operations by the fourth quarter, while testing and commissioning of its seawater desalination facility under Isla Mactan Cordova Corp. (IMCC) is nearing completion.
For the first half of 2025, Vivant posted a core net income of P962 million, up 11 percent year on year, while net income attributable to equity holders stood at P959 million, nine percent higher than the same period in 2024. Chief executive officer and president Arlo G. Sarmiento credited the earnings growth to strong performance from the power generation business, particularly its participation in the reserve market, which offset lower electricity spot prices.
Power generation contributed P908 million, or 63 percent of the group’s income, as Vivant’s plants delivered 1,972 GWh. Distribution contributed P589 million through Visayan Electric Co., though earnings were flat due to higher costs and a one-time refund despite a three percent increase in sales volumes. The water business reversed last year’s losses, contributing P93 million on improved wastewater operations in Palawan and finance income from IMCC’s bulk water concession.
Consolidated revenues slipped three percent to P5.4 billion on lower sales from generation assets, while operating expenses jumped 33 percent to P860 million due to expansion-driven costs. Consolidated assets stood at P32 billion, with equity at P20.4 billion and debt-to-equity ratio at 0.46x.
Vivant emphasized that its forward strategy will continue to combine traditional energy operations with investments in renewables and water infrastructure. “We are optimistic about the second half as we focus on projects that deliver sustainable solutions for communities and industries,” the company said. (KOC)