Manila Water Company Income Statement

Financials in millions PHP. Fiscal year is January - December.

Millions PHP. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	37,104	34,855	28,504	20,641	19,287	20,158
Other Revenue	1,942	1,685	2,135	2,113	1,148	1,178
Revenue	39,046	36,540	30,639	22,753	20,435	21,336
Revenue Growth (YoY)	11.45%	19.26%	34.66%	11.35%	-4.22%	-0.82%
Operations & Maintenance	1,003	959.02	964.66	1,147	744.27	627.26
Selling, General & Admin	2,035	1,939	1,516	1,561	817.66	712.97
Depreciation & Amortization	5,525	5,348	4,308	3,046	3,628	3,523
Provision for Bad Debts	186.62	166.83	217.17	-134.36	466.81	458.83
Other Operating Expenses	8,560	8,692	7,990	8,126	7,083	6,446
Total Operating Expenses	17,309	17,104	14,995	13,745	12,740	11,768
Operating Income	21,737	19,435	15,644	9,008	7,695	9,568
Interest Expense	-3,307	-3,543	-3,759	-2,813	-2,466	-2,250
Interest Income	267.61	374.91	301.23	121.76	70.55	211.22
Net Interest Expense	-3,039	-3,168	-3,458	-2,692	-2,396	-2,039
Income (Loss) on Equity Investments	-3,511	-3,594	-3,561	520.07	569.46	213.84
Currency Exchange Gain (Loss)	850.23	1,127	54.05	662.48	-347.76	-510.11
Other Non-Operating Income (Expenses)	254.36	291.68	307.83	659.29	-48.27	-226.76
EBT Excluding Unusual Items	16,292	14,092	8,987	8,158	5,473	7,005
Gain (Loss) on Sale of Investments	1,069	-	-	-	-130.32	-340.65
Gain (Loss) on Sale of Assets	1,019	1,014	-10.78	3	-34.11	-1.13
Pretax Income	18,379	15,106	8,976	8,161	5,308	6,664
Income Tax Expense	4,750	4,134	3,105	2,013	1,539	1,749
Earnings From Continuing Ops.	13,629	10,971	5,871	6,148	3,769	4,915
Earnings From Discontinued Ops.	-0.19	-1.01	-0.83	-6.36	-14.96	-369.06
Net Income to Company	13,629	10,970	5,870	6,141	3,754	4,546
Minority Interest in Earnings	-565.1	-470.73	-276.89	-218.63	-80.81	-45.33
Net Income	13,064	10,500	5,594	5,923	3,673	4,500
Net Income to Common	13,064	10,500	5,594	5,923	3,673	4,500
Net Income Growth	54.89%	87.71%	-5.56%	61.24%	-18.38%	-18.11%
Shares Outstanding (Basic)	2,958	2,953	2,951	3,282	3,285	2,465
Shares Outstanding (Diluted)	2,958	2,953	2,951	3,282	3,285	2,465
Shares Change (YoY)	0.15%	0.08%	-10.09%	-0.08%	33.27%	-
EPS (Basic)	4.42	3.56	1.90	1.80	1.12	1.83
EPS (Diluted)	4.42	3.56	1.90	1.80	1.12	1.83
EPS Growth	54.66%	87.56%	5.04%	61.38%	-38.75%	-18.11%
Free Cash Flow	-398.97	-168.86	2,564	-8,174	-1,540	-1,524
Free Cash Flow Per Share	-0.14	-0.06	0.87	-2.49	-0.47	-0.62
Dividend Per Share	1.674	1.674	1.129	0.999	0.531	-
Dividend Growth	48.27%	48.27%	13.06%	88.06%	-	-
Profit Margin	33.46%	28.73%	18.26%	26.03%	17.98%	21.09%
Free Cash Flow Margin	-1.02%	-0.46%	8.37%	-35.92%	-7.53%	-7.14%
EBITDA	27,014	24,534	19,679	12,054	11,323	13,122
EBITDA Margin	69.18%	67.14%	64.23%	52.98%	55.41%	61.50%
D&A For EBITDA	5,276	5,099	4,035	3,046	3,628	3,554
EBIT	21,737	19,435	15,644	9,008	7,695	9,568
EBIT Margin	55.67%	53.19%	51.06%	39.59%	37.66%	44.84%
Effective Tax Rate	25.85%	27.37%	34.59%	24.67%	29.00%	26.24%
Revenue as Reported	39,153	36,647	30,710	22,799	20,530	-

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.