The last quarter of 2018 has bought more prosperity to Manila Electric Co. (Meralco). By the end of 2018, the firm reported an 18% jump on its core income or P5.72 Billion in figures. During the last three quarters of the year, it generated P4.48 Billion core income which is considerably lower than what it has on the 4th quarter. Meralco also hit P4.81 Billion income with reported one-time gains and it’s 7.8% higher than the 2017’s P4.46 Billion posted in the same quarter. So, what triggers the increase of these figures?
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If we take a look at 2018’s full year increase, Meralco is at P22.41 Billion core income, 10.9% higher than the P20.21 Billion yield last 2017. Meanwhile, the net income moved by 13 % from P20.38 Billion to P23.02 Billion. When it comes to energy sales, it is up by 5.3% or equivalent to 44,313 gigawatt-hours (GWh), combined with the sales from its subsidiary in Clark, Pampanga, as what Mr. Oscar S. Reyes, the President and CEO of the firm disclosed. By the end of year, the firm’s consumers expanded to 6.61 Million which is 4.6% higher and its gross revenue by 8% or P304.5 Billion.
According to the firm, the jump in core and net income is majorly because of the higher power consumption not only on the last quarter of 2018 but throughout the whole year. Apart from this, the combined distribution across the company’s customer sectors, the increase in OFW remittances, the rise of power consumption among Philippine gaming operators, and the stability of business process outsourcing in the country have impacted the success of the company on 2018.
Meralco is optimistic about its 2019 performance. According to company, there are good financial indicators, the volume is great, and customer account is continuously increasing and stabilizing. 2018 is considered as an achievement by the firm and a yield for its investors. 2019 might be the year for you to invest more on this company as it is becoming more and more active in the investment market.