First Gen Corp. saw its earnings edge higher in the first nine months of 2025 despite weaker power demand and prices.
In a disclosure Tuesday, the group said its attributable recurring net income went up by 3 percent to P12.1 billion from P11.6 billion a year ago.
Its topline, however, dipped 3 percent to P102 billion from P104.6 billion, amid lower power sales and the decline in spot market prices recorded by its natural gas and geothermal businesses.
Contributions from the company’s hydro business, on the other hand, soared by 65 percent to P1.31 billion.
FGen LNG, meanwhile, booked a recurring profit of P1.8 billion.
‘As a whole, we were happy to see First Gen’s net income steadily increase this year. This was despite industry dynamics of lower electricity prices and softer demand,’ First Gen president and chief operating officer Francis Giles Puno said.