Cebu-based Vivant Corp. said its core net income rose 21% in 2025 to P2.7 billion, driven mainly by stronger earnings from its power generation business and a turnaround in its water unit, as the listed utility and infrastructure firm expands its energy and water footprint in the Visayas and beyond.
Net income attributable to equity holders of the parent also reached P2.7 billion, up 15% from 2024, after accounting for non-core items that included a gain from a share purchase transaction and losses linked to an unplanned plant outage.
“Vivant Corporation recorded a double-digit expansion in earnings in 2025 with our CCNI reaching Php 2.7 bn, 21% higher than the prior year,” Chief Executive Officer Arlo G. Sarmiento said in the company’s results statement.
He said the performance was driven by the strong showing of Vivant Energy’s generation assets, particularly its oil plants, as well as steady contribution from the electricity distribution business.
Vivant Energy contributed P3.4 billion to total net income, with power generation accounting for P2.5 billion, or the bulk of segment earnings. The company said this was supported by gains from the reserve market, where nominations across four conventional plants jumped more than 1.7 times to 1,647 gigawatt-hours, generating combined revenues of P2.5 billion.
Its 35%-owned distribution utility Visayan Electric Co., which serves the Cebu area, contributed P1.1 billion, down 13% from a year earlier. Vivant said growth in electricity volumes was offset by an Energy Regulatory Commission-mandated one-time refund for unutilized regulatory costs and a one-time loss related to Typhoon Tinio. VECO’s sales volume still rose 3% to 4,033 GWh in 2025.
The water business posted a P218-million income contribution, reversing a P9-million loss in 2024. Vivant said this was helped by finance income recognized from its concession asset tied to a 25-year joint venture agreement signed in April 2025 between Vivant Hydrocore Holdings and the Metropolitan Cebu Water District to supply Metro Cebu with potable water from the 20-million-liter-per-day seawater desalination plant of Isla Mactan Cordova Corp.
Sarmiento said Vivant Water is “slowly pivoting from an investment-heavy phase to a revenue-generating one, as it starts to recognize the value of our concessions.”
Vivant also pointed to expansion projects across the Visayas. In November 2025, its unit won the notice of award for a 17.5-megawatt solar project in Bohol under the government’s Green Energy Auction Program, while another wholly owned subsidiary signed a 15-year power supply agreement with the Province of Siquijor Electric Cooperative for 11 MW of capacity, with delivery set to begin in the second half of 2026.
Looking ahead, Sarmiento said the company remains focused on its 2030 targets through four priorities: expanding its retail energy footprint, strengthening its small power utilities business, scaling renewable generation capacity, and providing essential water services in areas where it operates.
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