CEBU, Philippines — Cebu-based Vivant Corporation posted a 42 percent year-on-year increase in consolidated core net income to P318 million for the first quarter of 2025, propelled by robust earnings from its power generation and electricity distribution businesses.
The company also reported a 26 percent rise in net income attributable to equity holders, reaching P284 million, inclusive of non-recurring income adjustments.
The first-quarter performance highlights Vivant’s resilience amid sectoral shifts and its continued strategic push into essential infrastructure.
“We saw strong momentum across our energy assets, particularly from our conventional power plants operating in the reserve market. Our recent agreements in both energy and water signal continued growth and impact in vital utilities,” said Vivant CEO Arlo G. Sarmiento.
Vivant’s energy business remained the primary earnings engine, contributing a combined P505 million in net income.
The distribution segment, driven by a 35 percent stake in Visayan Electric Company (VECO), contributed P281 million—up four percent from the previous year—on the back of a four percent rise in energy sales to 934 GWh, led by an 8 percent uptick in residential consumption amid warmer temperatures.
Meanwhile, the power generation segment delivered P277 million, surging 94 percent t year-on-year. This was buoyed by increased participation of four conventional plants in the Reserve Market (RM), with nominated volumes reaching 346 GWh—more than fivefold compared to 1Q 2024. Notably, 1590 Energy Corporation recorded a 508 percent year-on-year increase in volume nominations.
However, the retail energy segment posted a P54 million loss, as gains from rooftop solar installations were offset by expired customer contracts in the retail electricity supply (RES) business.
Strategic Water Projects Advance
In the water sector, Vivant Hydrocore Holdings, Inc. (VHHI) signed a landmark 25-year joint venture with the Metropolitan Cebu Water District (MCWD) to deliver up to 20,000 cubic meters per day of treated water to Metro Cebu.
Although still in the investment phase, the segment reported a P9 million loss during the quarter. The company’s first large-scale seawater desalination plant is currently undergoing testing and commissioning.