| THE AYALA WAY

Vol 6 No 22

"ACEN continues to progress toward our goals, notwithstanding the global headwinds impacting the energy transition. The company remains committed to scale up renewables in the Philippines and around the region."

ERIC T. FRANCIA
ACEN President and CEO

FULL-YEAR EARNINGS

ACEN’s 2024 Net Income Grows 27% to P9.36B

ACEN has reported that it concluded 2024 with P9.36 billion in net income, growing 27 percent year over year. Attributable renewables output of 5,596 GWh was 25 percent higher than in 2023, buoyed by generation from plants energized throughout the year, which in turn contributed 37 percent of core attributable EBITDA. In the Philippines, this new capacity also supported the expansion of the company’s net seller position to 1,131 GWh, a 57 percent increase year on year.

The company's full-year financial performance was underpinned by fresh generation from new renewable energy plants operationalized within 2024, with core attributable EBITDA, which excludes nonrecurring income from asset sales, growing 25 percent to P19.3 billion. Consolidated net income after tax attributable to the parent stood at P9.36 billion, which included P2.8 billion in gains from value realization throughout 2024.

ACEN now carries attributable renewables capacity of 7.0 GW, comprising 3.3 GW in operation, 2.3 GW under construction, and 1.4 GW of projects that have been approved by the company’s board and expected to begin construction within the next 12 to 18 months.

ACEN ended 2024 with total assets of P329.5 billion, an increase of 16 percent from 2023. The company’s cash reserves stood at P25.2 billion. Attributable net debt grew to P161.8 billion as funds continued to be deployed into ongoing projects. resulting in a net debt to equity ratio of 0.69, up from 0.23 the year before.

Read the full disclosure and press statement on the company website or PSE Edge.