Manila Water income up 6% in 9 months

MANILA, Philippines – Ayala-led Manila Water Co. Inc. reported a six percent increase in net income in the first nine months of the year to P4.87 billion owing to higher revenues.

The company’s revenues went up five percent to P13.35 billion while its earnings before interest, taxes, depreciation and amortization (EBITDA) also increased five percent to P9.23 billion.

Manila Water saw its total billed volume rise four percent to 538.2 million cubic meters (mcm).

The billed volume in its East Zone concession area rose four percent to 360.3 mcm while the billed volume of its Boracay Island Water grew 13 percent to 3.7 mcm.

The billed volume of Laguna Water and Clark Water increased 12 percent and four percent, respectively.

On the other hand,  Vietnam units Thu Duc Water and Kenh Dong Water saw a one percent and three percent hike in their billed volumes, respectively.

 Total domestic water service connections of Manila Water improved by three percent to a little over one million. This covers the East Zone concession area, Boracay Island Water, Clark Water and Laguna Water.

The East Zone which encompasses parts of Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig, Marikina, most parts of Quezon City, portions of Manila, as well as several towns in Rizal.

It operates three other subsidiaries – the Laguna AAA Water Corp., Boracay Island Water Corp. and Clark Water Corp.

The company is a joint venture among Ayala Corp., United Utilities Pacific Holdings BV and Mitsubishi Corp. until it became a subsidiary of Ayala Corp. in 2010.