CEBU-BASED listed firm Vivant Corp. remains on track to achieve its midterm goals despite challenges in the first quarter, buoyed by the steady performance of its power distribution and on-grid generation assets, expanding retail electricity supply business, and growing water operations.
The firm reported a consolidated core net income (CCNI) of P313 million in the first quarter of 2026, slightly lower by two percent year-on-year. Net income attributable to equity holders of the parent reached P267 million, down 6 percent after accounting for non-core items, including losses from an unplanned plant outage and foreign exchange gains.
“The P313 million CCNI posted in the first quarter of 2026 was supported by the steady contribution of our distribution utility (DU) business, reliable performance of our On Grid generation assets, improving results from our RES arm, and the positive contribution of our growing water business,” Vivant chief executive officer Arlo G. Sarmiento said.
Consolidated revenues rose nine percent to P2.6 billion, driven by higher electricity sales and finance income from water concessions. Vivant’s energy business contributed P476 million to net income during the quarter, led by distribution utility Visayan Electric Company (Visayan Electric), which accounted for P267 million or 56 percent of the segment’s earnings. Visayan Electric sold 975 gigawatt-hours of electricity to captive customers during the period.
The company’s on-grid coal and oil plants also delivered strong results, supported by higher Wholesale Electricity Spot Market sales. Vivant’s first renewable energy facility, the 49.2-megawatt Samal Solar Renewable Energy Corp. plant in Bataan, contributed P9 million to earnings and delivered 18 gigawatt-hours of energy during the quarter. Its retail electricity supply arm, Corenergy, sold 91 gigawatt-hours of energy to contestable customers, up 43 percent from last year as it expanded its customer base.
Meanwhile, Vivant’s water business posted a positive P75-million contribution, reversing a P12-million loss a year earlier. The turnaround was driven by finance income from its desalination and wastewater concessions in Cebu and Puerto Princesa. The company also expanded its footprint in water distribution through the acquisition of Bantayan Resource Management and Development Corp. and the start of commercial operations of Bantayan Island Water Solutions Corp., which together are expected to serve over 5,000 households in Cebu.
Vivant said it continues to pursue opportunities in off-grid power generation and on-grid renewable energy while strengthening its risk management measures amid uncertainties in the global environment.
