New and existing renewable energy projects lifted the bottom line of Alternergy Holdings Corporation, chaired by former Energy chief Vicente Perez.
Alternergy achieved stronger results for its fiscal year ending June, with its net income reaching P165 million, a 28 percent increase from P130 million in 2024 and more than four times the P38 million it recorded in 2023.
According to a disclosure on Wednesday, its revenues jumped 31 percent to P360 million from P275 million last year and P171 million two years ago.
Earnings before interest, taxes, depreciation, and amortization (Ebitda) improved 29 percent to P399 million, against P310 million in 2024 and P180 million in 2023. ALTER observes a fiscal year running from July 1 to June 30.
“Our operating assets continue to contribute significant margins. We expect that once the ongoing construction of the four projects is completed by the end of 2025 and early 2026, there will be a substantial boost in ALTER’s financial standing,” ALTER President Gerry P. Magbanua said.
The company’s consolidated assets surged to P17.9 billion as of end-June, more than double the P8.7 billion reported a year earlier.
ALTER attributed the increase to the construction of its 4.6 megawatt (MW) Dupinga run-of-river hydro, 28 MW Solana Balsik solar, 128 MW Tanay wind, and 64 MW Alabat wind projects.
Cash holdings amounted to P6 billion, equivalent to 35 percent of total assets. The company said these funds are earmarked for project financing, with completion expected between the fourth quarter of this year and the first quarter of 2026.
