Aboitiz Equity Ventures nine-month earnings rise 2% to P17.8 billion
Power and banking gains lifted the conglomerate's January-to-September profit, though third-quarter net income fell to P4.1 billion from P8.9 billion a year earlier.
Aboitiz Equity Ventures Inc. (AEV) posted earnings of PHP 17.8 billion for the first nine months of 2026, a 2% increase from the same period last year, according to Mindanao Times. The growth came mainly from the group's power and banking units.
The picture was weaker for the third quarter alone. AEV's net income for July to September was PHP 4.1 billion, compared with PHP 8.9 billion in the same quarter of 2025.
Power accounted for 64% of the group's earnings. Banking and financial services made up 23%, and food and beverage 21%. Infrastructure reduced overall results by 8%.
AboitizPower's earnings rose 13% to PHP 26.2 billion. The report attributes the rise to higher electricity market prices, more power sold under supply contracts, and added capacity from the Caliraya-Botocan-Kalayaan hydroelectric complex and new solar plants. Lower coal plant availability pulled the unit's third-quarter net income down to PHP 7.8 billion from PHP 10.6 billion. In July, the company broke ground on a 60-megawatt battery storage facility in Cebu.
UnionBank's net income jumped 53% to PHP 9.9 billion, helped by income from lending, fees and wealth management. The bank reported PHP 1.2 trillion in assets as of September and more than 19.5 million customers.
The food and beverage businesses contributed PHP 4.7 billion, down from PHP 5.2 billion. Beverage sales volumes and several feed segments improved, but farms and meat production struggled with import competition and weaker local demand. Real estate earnings fell to PHP 7 million from PHP 1.7 billion, largely because no major land sale gains were booked this year.
In infrastructure, AEV's share of Aboitiz InfraCapital's losses narrowed to PHP 520 million from PHP 668 million. Higher airport passenger traffic and telecommunications tower expansion helped offset slower international travel and lower water volumes from Apo Agua due to El Niño. Including Republic Cement, total infrastructure losses attributable to AEV reached PHP 1.7 billion.
As of September 30, AEV had PHP 1 trillion in total assets and PHP 84.8 billion in cash. In May, Japan Credit Rating Agency gave the group an A- investment-grade rating with a stable outlook.
Why it matters for Davao
AEV runs power, banking, food and water businesses, including Apo Agua, whose volumes the company said dropped during El Niño. Its results give a sense of how these services are performing.
This article was written by the DavaoNews desk with AI assistance, using reporting by Mindanao Times. Facts come from the original report, which we credit and link below. Our editorial policy
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