-
MacroAsia Corp. saw a 3% decline in consolidated net income to P1.16 billion for the first nine months of the year from the P1.2 billion in the same period last year
-
Excluding 2024 one-off items, net income went up 14% anchored on strong performance across MacroAsia’s core businesses
-
For the third quarter of 2025, stronger aviation services, continued recovery in airline catering, and stable contributions from water operators boosted MacroAsia’s consolidated net income to P384.3 million
-
MacroAsia said it is entering the final quarter of 2025 with a stronger balance sheet and a diversified revenue base
MacroAsia Corp. saw a 3% decline in consolidated net income to P1.16 billion for the first nine months of the year from P1.2 billion in the same period last year.
Excluding 2024 one-off items, net income went up 14% anchored on strong performance across MacroAsia’s core businesses — airline catering, ground handling, and water services — all of which continued to register higher volumes and sustained revenue expansion amid steady recovery in travel demand and increased institutional accounts, the company said in a statement.
From January to September this year, aviation-related businesses continue to account for roughly 78% of total revenues, “reaffirming MacroAsia’s strategic position as a key service provider to the Philippine aviation industry,” the company said.
Revenue grew 6% year-on-year to P7.41 billion. On a normalized basis, excluding prior-year non-recurring items, the 2025 topline grew by 10% compared to P6.7 billion as normalized revenues in 2024.
For the third quarter of 2025, stronger aviation services, continued recovery in airline catering, and stable contributions from water operators boosted MacroAsia’s consolidated net income to P384.3 million,a 9% increase year-on-year.
Consolidated revenue for the third quarter rose 17% to P2.59 billion, reflecting steady volume gains across MacroAsia’s core business segments:
- Ground handling and aviation services revenue grew 16% to P1.04 billion, driven by higher flight handling volumes and operational recovery at major airports nationwide.
- In-flight and other catering revenues increased 8% to P1.20 billion, supported by growing passenger traffic and the expansion of institutional catering contracts.
- Water distribution revenues edged up 1% to P174.9 million, as new service connections complemented stable consumption in existing concession areas.
- Administrative fees jumped to P159.8 million from P13.5 million last year, reflecting the recognition of lease and service arrangements during the quarter.
Total direct costs and expenses rose 22% to P2.11 billion, mainly due to increased business activity and external cost factors such as higher material costs, mandated labor rate adjustments, and updated lease and fee structures at the Ninoy Aquino International Airport (NAIA).
Despite these pressures, MacroAsia said it maintained a solid gross margin of 19%, even as operating expenses increased to P408.4 million.
READ: MacroAsia reports 15% higher first-half income
MacroAsia said it enters the final quarter of 2025 with a stronger balance sheet and a diversified revenue base.
The group expects to sustain growth momentum through the peak holiday travel season, supporting higher airline catering and ground handling volumes, and expansion of institutional catering contracts and the onboarding of new foreign airline clients in its inflight kitchens by the fourth quarter.
The ongoing food commissary expansion in Muntinlupa City, which will more than double production capacity by end-2026, and the geographical growth through a joint venture in Cebu that will enhance presence in the Visayas are also seen to sustain growth momentum.
Moreover, the new water treatment facilities in Bacolod City, Poro Point, and Olango Island (Cebu), are scheduled to begin contributing revenues no later than the first quarter of next year.
MacroAsia said it also continues to navigate structural developments in the aviation sector, including increased passenger volumes following the September 2024 privatization of NAIA operations, offset by higher lease and fee structures as per Manila International Airport Authority directive, and new operational standards that may require additional investments in ground support equipment.
Ongoing negotiations for the renewal of the Philippine Economic Zone Authority economic zone lease within the NAIA complex, where MacroAsia associate Lufthansa Technik Philippines is a locator, is also expected to result in higher rental costs.
Inflation, foreign exchange volatility, and logistical constraints due to weather disturbances remain as current watch points.
MacroAsia said it expects no major movement in full-year profitability, with expected headwinds for some business units and ongoing negotiations for key accounts offset by the resilient demand and disciplined cost management driven by the organization’s efforts.
