ACEN bullish on growth despite 2025 profit drop

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March 10, 2026 | 12:00am

MANILA, Philippines — ACEN Corp., the Zobel family’s listed energy arm, delivered weaker financial results last year but remained optimistic about its long-term growth prospects.

In a stock exchange filing yesterday, the company reported a net income of P3.8 billion in 2025, down by 60 percent from P9.36 billion in 2024.

Statutory revenues likewise contracted, ending 14 percent lower year-on-year to P32 billion on lower spot market prices and reduced power output in core markets.

“ACEN faced numerous macro and sectoral headwinds in 2025, reflecting the complexities of today’s energy landscape and the long-term energy transition,” ACEN president and CEO Eric Francia said.

Despite headwinds, Francia noted that the company’s core business and long-term outlook “remain resilient.”

“As we look ahead, we will continue to prioritize increasing our contracted capacity and accelerating investments in energy storage, while ensuring steady, continued progress on our pipeline projects,” he added.

Amid unfavorable market conditions, ACEN still achieved a 24-percent increase in attributable renewable energy (RE) output to 7,009 gigawatt-hours (GWh), driven by new operating solar and wind assets in Australia and Laos.

Across international markets, RE generation heated up by 34 percent year-on-year to 5,143 GWh, thanks to solid contributions from new operational power plants.

Renewables output in the Philippines, meanwhile, edged up by two percent year-on-year to 1,866 GWh, supported by the completion of wind turbine repairs in Ilocos Norte.

“Notwithstanding softer financial performance, we continued to deliver solid generation growth,” ACEN chief finance officer and chief strategy officer Jonathan Back said.

“In 2026, our focus will remain on precise execution – operational efficiency, balance sheet strength and project delivery. This continued, disciplined approach will help us navigate market and macro uncertainties while sustaining our long-term growth trajectory,” Back said.