Manila Water Company, Inc. (PSE: MWC)

Manila Water Company Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating Revenue	33,239	28,504	20,641	19,287	20,158	19,997
Other Revenue	1,796	2,135	2,113	1,148	1,178	1,516
Revenue	35,035	30,639	22,753	20,435	21,336	21,512
Revenue Growth (YoY)	19.87%	34.66%	11.35%	-4.22%	-0.82%	10.30%
Operations & Maintenance	971.61	964.66	1,147	744.27	627.26	924.76
Selling, General & Admin	1,791	1,516	1,561	817.66	712.97	860.13
Depreciation & Amortization	4,839	4,308	3,046	3,628	3,523	2,925
Provision for Bad Debts	204.27	217.17	-134.36	466.81	458.83	15.84
Other Operating Expenses	8,032	7,990	8,126	7,083	6,446	7,658
Total Operating Expenses	15,839	14,995	13,745	12,740	11,768	12,383
Operating Income	19,196	15,644	9,008	7,695	9,568	9,129
Interest Expense	-3,664	-3,759	-2,813	-2,466	-2,250	-2,059
Interest Income	367.96	301.23	121.76	70.55	211.22	401.96
Net Interest Expense	-3,296	-3,458	-2,692	-2,396	-2,039	-1,657
Income (Loss) on Equity Investments	-3,677	-3,561	520.07	569.46	213.84	653.5
Currency Exchange Gain (Loss)	338.32	54.05	662.48	-347.76	-510.11	-4.64
Other Non-Operating Income (Expenses)	418.49	307.83	659.29	-48.27	-226.76	25.39
EBT Excluding Unusual Items	12,981	8,987	8,158	5,473	7,005	8,146
Gain (Loss) on Sale of Investments	-	-	-	-130.32	-340.65	-74.33
Gain (Loss) on Sale of Assets	0.02	-10.78	3	-34.11	-1.13	-18.35
Other Unusual Items	-	-	-	-	-	18.33
Pretax Income	12,981	8,976	8,161	5,308	6,664	8,071
Income Tax Expense	4,144	3,105	2,013	1,539	1,749	2,375
Earnings From Continuing Ops.	8,837	5,871	6,148	3,769	4,915	5,696
Earnings From Discontinued Ops.	-1.43	-0.83	-6.36	-14.96	-369.06	-56.78
Net Income to Company	8,836	5,870	6,141	3,754	4,546	5,639
Minority Interest in Earnings	-401.6	-276.89	-218.63	-80.81	-45.33	-143.92
Net Income	8,434	5,594	5,923	3,673	4,500	5,496
Net Income to Common	8,434	5,594	5,923	3,673	4,500	5,496
Net Income Growth	-2.64%	-5.56%	61.24%	-18.38%	-18.11%	-15.76%
Shares Outstanding (Basic)	2,953	2,951	3,282	3,285	2,465	2,465
Shares Outstanding (Diluted)	2,953	2,951	3,282	3,285	2,465	2,465
Shares Change (YoY)	-10.06%	-10.09%	-0.09%	33.27%	-	-
EPS (Basic)	2.86	1.90	1.80	1.12	1.83	2.23
EPS (Diluted)	2.86	1.90	1.80	1.12	1.83	2.23
EPS Growth	8.25%	5.04%	61.37%	-38.75%	-18.11%	-15.76%
Free Cash Flow	977.34	2,564	-8,174	-1,540	-1,524	-1,236
Free Cash Flow Per Share	0.33	0.87	-2.49	-0.47	-0.62	-0.50
Dividend Per Share	1.129	1.129	0.999	0.531	-	0.910
Dividend Growth	82.39%	13.06%	88.06%	-	-	6.02%
Profit Margin	24.07%	18.26%	26.03%	17.98%	21.09%	25.55%
Free Cash Flow Margin	2.79%	8.37%	-35.92%	-7.53%	-7.14%	-5.75%
EBITDA	23,763	19,679	11,941	11,323	13,122	12,123
EBITDA Margin	67.83%	64.23%	52.48%	55.41%	61.50%	56.35%
D&A For EBITDA	4,566	4,035	2,934	3,628	3,554	2,994
EBIT	19,196	15,644	9,008	7,695	9,568	9,129
EBIT Margin	54.79%	51.06%	39.59%	37.66%	44.84%	42.44%
Effective Tax Rate	31.92%	34.59%	24.67%	29.00%	26.24%	29.43%
Revenue as Reported	35,113	30,710	22,799	20,530	-	21,647

Source: S&P Capital IQ. Utility template. Financial Sources.