-
MacroAsia Corp. reported a consolidated net income of P771.10 million in the first half of 2025, up 15% from the P669.78 million year-on-year excluding one-off revenue items in the same period last year
-
Consolidated revenues climbed 9% year-on-year to P4.81 billion, driven by higher demand across aviation services, institutional food accounts, and water concessions
-
MacroAsia said it enters the second half of 2025 with a strong balance sheet and diversified revenue base
MacroAsia Corp. reported a consolidated net income of P771.10 million in the first half of 2025, up 15% from the P669.78 million net income excluding one-off revenue items in the same period last year.
The latest figure, is, however, lower than the comparable results in 2024 amounting to P849.10 million, with last year’s first half boosted by revenue items pertaining to prior period transactions, the aviation support services provider said in a statement.
“Our operations continue to deliver strong results, supported by sustained growth across aviation, food, and water segments, as well as higher earnings from associates,” MacroAsia president and chief operating officer Eduardo T. Luy said.
Consolidated revenues climbed 9% year-on-year to P4.81 billion in the first half of 2025, driven by higher demand across aviation services, institutional food accounts, and water concessions. For the second quarter alone, revenues reached P2.46 billion, reflecting the company’s expansion beyond its traditional aviation base.
Share in net earnings from associates surged 75% to P611.0 million from P349.7 million in the prior year.
This was led by Lufthansa Technik Philippines’ (LTP) net income of P1.10 billion, with MacroAsia’s 49% share amounting to P537.8 million; Japan Airport Service Co., Ltd.’s P52.6 million net income share; and Cebu Pacific Catering Services’ P20.7 million net income share.
Revenues from water operations rose 7% to P364.0 million, with non-aviation businesses contributing 23% of group revenues, supported by growth in institutional food service accounts and water concessions.
As of June 2025, MacroAsia’s total assets amounted to P15.36 billion, up 15% from P13.42 billion as of December 2024, driven by higher operating cash flows and capital expenditures for expansion.
Total liabilities, meanwhile, reached P7.18 billion, up 23% due to long-term borrowings for the Seawater Desalination Plant Project in Lapu-Lapu City via CSWater Lapu-Lapu, Inc., as well as ground handling equipment and land acquisitions to support business growth in major airports in the Philippines.
Currently, MacroAsia’s groundhandling unit operates in 22 airports.
MacroAsia said it enters the second half of 2025 with a strong balance sheet and diversified revenue base, supported by anticipated growth in passenger volumes following Ninoy Aquino International Airport’s privatization in September 2024, despite higher lease and fee structures at the airport.
Negotiations are also ongoing for the renewal of MacroAsia’s Philippine Economic Zone Authority economic zone lease in NAIA where LTP is a locator, which will likely result in higher rental costs for the ecozone and LTP.
MacroAsia also aims for continued expansion of non-airline food services and water concessions for revenue resiliency. It looks to more than doubling of commissary capacity with the ongoing facility construction in Muntinlupa that will be completed by 2027 through the SATS (Singapore) joint venture, positioning further growth in the food business for institutional clients outside of the airport.
The company’s major water projects in Bacolod, Poro Point (La Union), and one of the country’s largest desalination plants in Lapu-Lapu City, are expected to start contributing revenues by late 2026.
