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Cebu-based Vivant Corp. weathered economic headwinds, posting a 24 percent rise in net income for the first nine months of the year.
In a disclosure to the Philippine Stock Exchange on Thursday, Nov. 13, the company said that its consolidated core net income (CCNI) grew to ₱1.9 billion in January to September, driven by larger financial contributions from its power generation and distribution utilities (DU) segments.
The energy business contributed ₱2.5 billion to the overall income. The majority of this was spearheaded by the power generation segment, which accounted for a ₱1.7 billion share.
Despite the 15 percent decline in overall energy volumes, the company’s participation in the reserve market, the Wholesale Electricity Spot Market (WESM), and Ancillary Service Procurement Agreement (ASPA) contracts provided enough gains to boost the energy unit’s income contribution by 12 percent.
The DU business generated ₱1.7 billion. However, the retail electricity unit recorded a ₱79 million loss due to a lower average selling price from its retail electricity supply sales.
Vivant noted that the Visayan Electric Company (VECO) maintained a steady net income share of ₱879 million, aided by a three percent increase in DU sales. Residential consumer sales marginally rose by four percent.
Meanwhile, Vivant’s water segment posted an income of ₱184 million, a significant rebound from an ₱11 million loss in the previous year. This turnaround began when the segment started recognizing finance income from its joint venture with the Metropolitan Cebu Water District to supply water to Metro Cebu.
Arlo G. Sarmiento, Vivant's Chief Executive Officer, expressed optimism, noting that the company “continued to show strong results despite the slower than expected GDP [gross domestic product] growth in the first nine months of the year," proving it managed to power through economic challenges from January to September.
“As we head to the fourth quarter of 2025, we expect to close the year strong,” Sarmiento added. “The recent acquisition of a minority stake in Samal Solar Renewable Energy Corp. (SSREC) which operates a solar power plant in Bataan will bring immediate value to the bottom-line while we expect the upcoming completion of our other business development initiatives to spur future growth.”
In September, Vivant Energy secured a 40 percent equity stake in SSREC, giving it an interest in the 53.14-megawatt (MW) Samal solar power project in Bataan. The energy firm said that the solar facility's 3.95 MW expansion is set to finish by next year.
