Cebu-based Vivant Corporation reported a consolidated core net income of P313 million in the first quarter of 2026, slightly lower than a year earlier, as losses from off-grid power assets weighed on the company’s earnings.
Net income attributable to equity holders of the parent company stood at P267 million, down 6% year-on-year, after accounting for non-core items including losses from an unplanned downtime at a subsidiary’s generating unit.
Vivant said consolidated revenues rose 9% to P2.6 billion, supported by higher power sales and finance income from its water concessions.
The company’s 35%-owned distribution utility, Visayan Electric Company, contributed P267 million to net income after selling 975 gigawatt-hours of electricity to captive customers during the quarter.
Vivant’s retail electricity supply arm, Corenergy, sold 91 GWh to contestable customers, up 43% from the same period last year.
The company’s power generation business contributed P233 million, while its water business posted a P75-million income contribution, reversing a P12-million loss in the previous year.
Vivant said its water segment benefited from finance income from the concessions of Isla Mactan Cordova Corporation and Puerto Princesa Wastewater Reclamation and Learning Center Inc.
The company also expanded further into water distribution after completing the acquisition of Bantayan Resource Management and Development Corporation in April. The company services more than 4,000 households in Bantayan, Cebu.
Vivant Water’s Bantayan Island Water Solutions Corporation also began commercial operations in April, serving about 1,000 households.
Vivant CEO Arlo Sarmiento said the company remained on track to meet its midterm goals, supported by its distribution utility business, on-grid generation assets, retail electricity operations, and growing water business.
Business News Asia
