Manila Water Delivers Solid First Half 2026 Performance with Double-Digit Revenue and EBITDA Growth 

Manila Water Company, Inc. (Manila Water) sustained its strong financial and operating performance for the first six months of the year, reflecting the positive impact of approved tariff adjustments, stable demand, and continued cost discipline despite investment-cycle headwinds and a more complex operating environment.

For the first half of 2026, Manila Water’s consolidated revenues increased by 11% to Php22.2 billion, underpinned by stable contributions from its core business along with the implementation of tariff adjustments across key operating units. This topline growth was complemented by effective cost management and operational efficiency initiatives, which supported a 13% increase in EBITDA to Php16.4 billion. EBITDA margin further strengthened to 74% which reflected the company’s continued emphasis on efficiency improvements and disciplined cost controls across the organization. Net income likewise grew by 6% to Php8.5 billion, demonstrating Manila Water’s resilient earnings capability despite higher depreciation and interest expenses. This underscores the company’s ability to balance near-term financial performance with the requirements of a continuing investment cycle.

For Manila Water’s East Zone Concession, business performance remained robust as revenues grew by 12% to Php17.9 billion on the back of steady customer demand and tariff adjustments. EBITDA also increased by 13% to Php13.7 billion which resulted to a net income improvement of 9% to Php7.8 billion, reflecting the continued strength of the core business, notwithstanding higher depreciation and interest expenses arising from strategic infrastructure investments.

Beyond Manila Water’s East Zone Concession, Non-East Zone Philippines (NEZ PH) business units similarly delivered solid growth. NEZ PH revenues saw growth of 2%, while EBITDA rose by 7%, largely driven by tariff adjustments in key operations in Clark, South Luzon, and Boracay. This was further complemented by higher supervision fees from projects under the company’s Laguna Water and Estate Water businesses, reflecting the increasing contribution of Manila Water’s portfolio beyond its East Zone Concession and its respective ability to capture growth opportunities.

Manila Water continues to focus on critical infrastructure that supports capacity expansion, service reliability, and long-term water security. Capital expenditures during the period were at Php6.8 billion, in compliance with the company’s service obligations. 

Manila Water remains proactive in managing external risks, including the prevailing El Niño conditions and market disruptions related to the Middle East crisis. The company continues to implement a disciplined and deliberate approach to cost management, operational resilience, and water supply augmentation.

“Our first half results show that even in uncertain times, our company can still deliver strong performance, provide reliable service, and create lasting value for our stakeholders. While geopolitical concerns and El Niño present real challenges for our sector, we are confident in our ability to navigate these conditions by improving the way we operate, optimizing resources, and strengthening service delivery. In doing so, we can translate operational gains into meaningful financial results, while continuing to provide reliable and essential water service to our customers.” Manila Water President and CEO, Mr. Roberto R. Locsin said.