Vivant Corporation posted strong revenue growth in the first half of 2026, supported by higher power sales, expanding water operations, and continued investments in renewable energy.
The Cebu-based company said consolidated revenue rose to 7.6 billion pesos from 5.4 billion pesos a year earlier, with power sales accounting for 83% of the total. Power sales increased 53%, helped by stronger revenue at six generation subsidiaries.
Consolidated core net income stood at 784 million pesos ($13.8 million) in the six months ended June, while net income attributable to shareholders was 757 million pesos. Earnings were lower from a year earlier due in part to unplanned downtime at some conventional power plants.
Vivant Chief Executive Officer Arlo Sarmiento said the diversified nature of the group’s portfolio helped cushion the impact of operational challenges, while several power generation assets continued to perform well.
The company’s energy business contributed 1.3 billion pesos to net income, with power generation accounting for 853 million pesos and electricity distribution contributing 553 million pesos.
Oil-fired plants remained the biggest contributor to generation earnings, generating 531 million pesos. Meridian Power, which operates a 70-megawatt facility in Cebu City, contributed 293 million pesos as energy sales volumes jumped 139%, largely on higher spot-market sales.
Coal-fired plants contributed 311 million pesos, while Vivant’s generation portfolio recorded total sales volumes of 2,132 GWh, up 7% from a year earlier.
Vivant’s 35%-owned distribution utility Visayan Electric Company contributed 553 million pesos, while electricity sales to captive customers increased 3% to 2,049 gigawatt-hours. Its retail electricity supplier Corenergy sold 181 GWh to 57 contestable customer accounts, with volumes rising 32% from a year earlier.
Water business posts strong growth
Vivant’s water business recorded an 86% increase in earnings contribution to 174 million pesos from 93 million pesos a year earlier, driven largely by its water concession assets.
The company is also accelerating the expansion of its renewable energy portfolio as it targets a 30% renewable energy share of attributable generating capacity by 2030.
In June, subsidiary Vivant Renewable Energy Corporation acquired Samar Philippines Renewable Corporation, which is developing a 200-MW wind farm in Northern Samar targeted for completion in 2028.
Another subsidiary, San Ildefonso Alternative Energy Corporation, began testing and commissioning a 22-MW solar plant in Bulacan in July. Vivant’s existing 49.2-MW Samal solar plant in Bataan contributed 23 million pesos to generation earnings in the first half.
Sarmiento said Vivant expects its renewable energy portfolio to expand further as new projects are completed, while contributions from the water business continue to improve. He added that the company’s utility-scale desalination plant began supplying the Metropolitan Cebu Water District with five million liters of potable water a day in early July.
Vivant had consolidated assets of 37.4 billion pesos at the end of June and equity attributable to the parent of 22.2 billion pesos, giving the group what management described as a strong balance sheet to support operations and expansion projects.
Business News Asia
