Alternergy delivers stronger operating performance as revenues increase 31% and EBITDA grows 39%

Alternergy

Sep 24

3 min read

Alternergy’s consolidated revenues grew 31% to P471.8 million and EBITDA increased 39% to P553.8 million.
Gross profit climbed 44% to P272.6 million and gross profit margin improved to 58%; consolidated net income was P168.2 million, broadly stable year-on-year.
Kirahon Solar, Palau Solar, Pililla Wind, and newly operating Balsik Solar made significant contributions.
Total asset base expanded 38% to P24.6 billion, reflecting investments in Alternergy’s two largest projects, Tanay Wind and Alabat Wind, which are nearing commercial operations and poised to drive revenue growth.
Parent company revenues rose 56% and net income more than doubled to P181.4 million.

Alternergy Holdings Corporation (PSE: “ALTER”), a Philippine pioneer in renewable power development, posted stronger operating results in fiscal year 2026 (FY2026: 1 July 2025 to 30 June 2026). Consolidated revenues increased 31% to P471.8 million and EBITDA (earnings before interest and taxes, depreciation, and amortization) rose 39% to P553.8 million, driven by contributions from its renewable energy portfolio, including the newly commissioned Balsik Solar Project.

Stronger financial momentum delivered by operating assets

For the year ended 30 June 2026, Alternergy’s consolidated gross profit climbed 44% to P272.6 million and gross profit margin improved to 58% from 53% in FY2025. Consolidated net income was P168.2 million, broadly stable from P165.0 million the previous year.

The Balsik Solar Project in Bataan generated P96.4 million in revenues and P71.2 million in gross profit, accounting for approximately 20% of consolidated revenues. The company’s two other solar assets—Kirahon and Palau continued to provide a substantial portion of revenues while the Pililla Wind Project recorded improved performance, supported by an increased tariff under the Feed-in-Tariff (FIT) program.

“FY2026 marks an important stage in Alternergy’s growth. We are beginning to realize the returns on our portfolio investments as we build the financial and operational foundation for the next phase of our development. The growth in revenues and EBITDA demonstrates the progress in our portfolio, while the substantial increase in our asset base shows the investments being made to bring our next wave of projects into operation,” said Gerry Magbanua, president of Alternergy Holdings Corporation.

Asset growth positions Alternergy for near-term revenue expansion

Investments in new projects expanded the company’s total asset base to P24.6 billion, up 38% from P17.9 billion the previous year. Non-current assets stood at P20.6 billion, with project costs accounting for 93% of the total.

“The significant expansion in our asset base reflectsthe scale of investments in our two largest projects to date, the 128 MW Tanay Wind and the 64 MW Alabat Wind, now 90% and 85% complete, respectively. As both projects are nearing commercial operations in a matter of months, we are approaching an important inflection point when these investments will begin contributing substantially to our operating revenues. Our focus is on executing well, bringing these projects into commercial operation, and translating our development pipeline into longterm operating assets that deliver sustainable value for the company and our stakeholders,” Gerry Magbanua also said.

At the parent level, Alternergy also recorded significant growth. Parent-company revenues rose 56% to P548.9 million, EBITDA grew 65% to P517.3 million, and net income more than doubled to P181.4 million, from P89.1 million in FY2025. Retained earnings likewise increased 92% to P178.9 million.

Scaling into one of the country’s fastest growing RE developers

With a growing share of the portfolio transitioning from development and construction toward operations, Alternergy expects the coming period to mark another important step in its evolution as a Triple Play renewable energy platform.

To date, the company has 119 MW of operating portfolio across the Philippines and the Republic of Palau. The company anticipates its operating capacity to increase to approximately 311 MW by end-2026, as its 128 MW Tanay Wind and 64 MW Alabat Wind projects advance toward commercial operations. Both projects were awarded under the DOE’s Green Energy Auction (GEA 2).

It also has a committed development pipeline with projects awarded under GEA 4, including Liberty Solar, Kalandagan Solar, Alegria Wind and Tayabas North Wind, with a combined potential capacity of approximately 762 MW.