Mla Water reports P5.81-B profit in 2014

MANILA, Philippines - Ayala-led Manila Water Co. Inc. (MWCI) registered a marginal increase in its net income in 2014.

In an exchange filing yesterday, the company reported a net income of P5.81 billion, up one percent from P5.75 in 2013.

Revenues rose three percent to P16.36 billion from P15.93 billion in 2013.

Earnings Before Interest, Taxes, Depreciation and Amortization (EBIDTA) fell by a percent to P11.56 billion from P11.65 billion in 2013.

The total billed water volume covering all its concession areas in 2014 rose 12 percent to 671.2 million cubic meters (mcm) from 599.4 mcm in 2013.

Increases in the billed water volume were seen in all its contract areas, except for the service area covered by Thu Duc Water in Vietnam which fell by one percent to 119.7 mcm from 120.4 mcm in 2013.

Total water service connections in the East Zone service area, contract area of Boracay Water and Laguna Water, all registered increases of three percent, eight percent, and 35 percent, respectively.

A negligible number of new service connections were noted in the service area of Clark Water.

Manila Water is actively scouting for expansion opportunities in cities nationwide with viable population for providing efficient water service.

It also continues to explore expansion opportunities in neighboring Southeast Asian countries of Vietnam and Myanmar.

Outside its main concession area in Metro Manila, the company already has a strong presence in Boracay Island, Laguna, and Clark Freeport Zone.

The company, however, still derives most of its income from its Metro Manila East Zone concession area that covers parts of Quezon City and Makati, the southeastern parts of Manila, Taguig, Pateros, Marikina, Pasig, San Juan, Mandaluyong, and Rizal province.