Maynilad earns 10 percent more in Q1

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April 30, 2026 | 12:00am

MANILA, Philippines — Maynilad Water Services Inc. kept its income flowing in the first quarter as higher billed volume and an expanding customer base boosted its revenue stream.

The West Zone water concessionaire said its income reached P4 billion for the three-month period, up by 10.3 percent from P3.6 billion in the same period a year ago.

The company’s revenue rose by 6.2 percent to P9.1 billion from P8.6 billion the previous year.

“Our first quarter results reflect steady progress in improving service reliability while continuing investments to strengthen our system. These efforts are part of our long-term commitment to deliver more consistent and dependable water service, while expanding also, together with that, our wastewater and sanitation services,” Maynilad president and CEO Ramoncito Fernandez said in a briefing.

He added that the company remains focused on sustaining improvements and ensuring that its investments result in better services.

Earnings before interest, taxes, depreciation and amortization (EBITDA) went up by 7.6 percent P6.5 billion, with EBITDA margins reaching 71.4 percent due to continued operational efficiency.

Maynilad said the growth of billed volumes and connections during the quarter were driven by the domestic segment, which saw a three percent increase in volume.

The company reported that total billed volumes increased by 2.3 percent to 136.1 million cubic meters, while billed connections went up by 1.5 percent to 1.58 million.

It added that water service performance improved during the period, with service coverage rising to 94.9 percent, 24-hour water availability at 97.9 percent, and supply at a minimum seven pounds per square inch  at 91.4 percent.

In the first quarter, Maynilad reduced its non-revenue water (NRW) to an average of 32 percent, with period-end losses at 30.7 percent.

Maynilad COO Christopher Lichauco said that the decline in NRW was mainly due to the company’s sustained implementation of leak detection, pipe replacement, and network optimization initiatives.

He added that Maynilad is looking to reduce NRW levels to 27 percent by the end of the year.

“First quarter performance alone is proof that we are building on the momentum from last year. We are confident we will hit our targets,” Lichauco told reporters.

The company added that capital expenditure reached P5.4 billion, mainly on water treatment expansions, water source development, NRW management, operation and customer service enhancements. Maynilad had allocated P30 billion for capex this year.