Aboitiz Equity Ventures’ profit nearly doubles to ₱6.3B

Power, banking, and food lift earnings while property and infrastructure drag.

Aboitiz Equity Ventures reported a near doubling of first-quarter net income to ₱6.3 billion, up 96.88% from ₱3.2 billion last year, driven by stronger performances across its core businesses even as some units remained under pressure.

Power continued to anchor earnings at ₱4.4 billion or 56% of contributions, supported by higher margins, improved plant availability, and additional output from new solar projects. This steady supply backbone underscores how generation performance continues to shape both reliability and cost dynamics for users and businesses.

UnionBank delivered ₱3.8 billion in net income, surging 167%, as loan growth and lower funding costs strengthened margins while credit costs eased.

Food and beverage contributed ₱2.1 billion, rising 43%, helped by strong volumes in agribusiness, trading, flour, and sustained demand for beverages, reflecting steady consumer activity.

However, real estate and infrastructure weighed on overall results, with losses reflecting weaker real estate contributions, timing shifts in revenue recognition, and continued pressure on cement-linked operations. 

This came even as select segments saw support from airports, water services, and digital infrastructure, but not enough to offset broader softness in construction-linked exposure.