Vivant Reports Record High Core Net Income of P2.3 Billion in 2024

​Vivant Corporation (VVT) reported Consolidated Core Net Income (CCNI) of P2.3 billion in 2024, reflecting a significant 20% increase from the prior year.

​Considering non-recurring income from the recognition of the fair value of some of the Company’s investments, booked insurance proceeds by associates, one-time service fees of a subsidiary, and a reversal of prior year’s accrued charges, Net Income Attributable to Equity Holders of the Parent Company recorded at P2.4 billion, 3% higher.
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“The year 2024 was a record year for Vivant Corporation, led by its energy business which saw double digit growth in earnings. Meanwhile, our business development teams in both Energy and Water continued to lay the groundwork for the Company’s future growth,” according to Arlo G. Sarmiento, Vivant Corporation CEO.

Of the total net income from Vivant’s SBUs, power generation accounted for the majority, representing 64% or P2.2 billion. The DU accounted for 36% or P1.2 billion. Retail Electricity contributed P22.3 mn or 1%. The water business is still in its investment phase and is expected to meaningfully contribute in the medium term.

Power generation net income contribution grew by 15% driven by the participation of Vivant’s portfolio of plants in the Reserve Market (RM) and Wholesale Electricity Spot Market (WESM). In total, 4,965 GWh of energy was delivered to power generation customers in 2024. Meanwhile, net income contribution from DU VECO increased by 22% as energy sales hit 3,933 GWh, 11% higher.

Consolidated revenues reached P12.2 billion, 48% higher than 2023 primarily due to the combined effect of higher sales volumes from certain power generation assets, retail electricity supply (RES) and solar rooftop businesses.

Operating expenses increased by 59% to P1.6 billion primarily because of manpower additions, consultancy services engagements brought about by digital transformation and business expansion initiatives, and higher depreciation due to asset acquisitions.

Vivant’s consolidated assets stood at P32.0 billion while total equity attributable to parent was at P20.1 billion. Total interest-bearing notes amounted to P6.8 billion.

Vivant’s current ratio as of yearend stood at 2.40x versus 1.76x in 2023, while debt-to-equity ratio saw an improvement to 0.49x from 0.53x.

“Beyond 2024, we have established a pipeline of projects which will enable us to continue improving the lives of our fellow Filipinos. In Energy, we have planned a more balanced portfolio of conventional and renewable energy (RE) projects, designed to provide reliable and sustainable power to our customers. In Water, we have earmarked investments across the water value chain centered on desalination and wastewater treatment to address the needs of the communities we serve,” added Mr. Sarmiento