Manila Water Co. Inc. · PSE:MWC
Manila Water — FY2025 Earnings Presentation
20 slides from Manila Water's earnings presentation, Feb 27, 2026
Slide 1: FY 2025 Analysts' Briefing
FY 2025 Analysts’ Briefing February 27, 2026
Slide 2: For questions and comments, e-mail invrel@manilawater.com
For questions and comments, you may send us an e-mail at: invrel@manilawater.com
Slide 3: FY 2025 Financial and Operating Highlights
FY 2025 Financial and Operating Highlights Sustained growth through operational efficiency, prudent cost management and disciplined portfolio management Billed Consolidated EBITDA NIAT CAPEX Volume Revenues ↑ 12% ↑ 51% Php28.2 Bn ↑ 0.5% ↑ 10% EBITDA Margin: ↑ 1 ppt NIAT Margin: ↑ 10 ppts EZ. : Php23
Slide 4: Consolidated Financial Performance
Consolidated Financial Performance NIAT surged by 51% with strong topline performance and effective cost management ▪ Consolidated revenues up 10% driven by tariff increases across the (in Million Php) FY 2025 FY 2024 % Change enterprise, supported by favorable customer mix (EZ) and sustained growth
Slide 5: Consolidated Financial Performance: Net Income Contribution per SBU
Consolidated Financial Performance SBUs sustain strong business performance Net Income Contribution per SBU (in Million Php) 15,808 13,546 12,408 10,500 1,580 2,261 803 279 - (3,991) EZ NEZ PH IB WJC Consolidated FY 2025 FY 2024 • East Zone (EZ) (Parent Company): Higher revenues from implemented tar
Slide 6: Consolidated Financial Performance: CAPEX
Consolidated Financial Performance CAPEX growth with steady EZ execution and continued project roll-out in NEZ PH FY 2025 FY 2024 WJC CAPEX Highlights NEZ PH Php1.55 NEZ PHBn Php2.68 Bn Php1.7Bn 5.5% East Zone: Php23.6 Bn 10.2% (10%) • Wawa-Calawis Phase 2 (Kaysakat) – Php5.5 Bn • East Bay 2 – Php4.
Slide 7: Capital Expenditure: East Zone Concession
Capital Expenditure: East Zone Concession (80 MLD) Wawa-Calawis Ph1 Done with Process Proving (16 MLD) Hinulugang Taktak System 95% Completed (220 MLD) Wawa-Calawis Ph2 (218 MLD) Wawa-Calawis Ph 3 85% Completed Ongoing Pre-Works (60 MLD) Manda West – SJ South – QC South 83% Completed (50 MLD) East B
Slide 8: Capital Expenditure: Non-East Zone Business
Capital Expenditure: Non-East Zone Business DMI Water Treatment Plant, Ilagan Water 100% Completed (20 MLD) BNR STP Upgrade, Clark Water Physically Completed Functionality tests ongoing Cresendo Estate Commercial Cistern Project, Estate Water 100% Completed (9 MLD) Alviera STP, Estate Water 100% Phy
Slide 9: Balance Sheet
Balance Sheet Key Balance Sheet Items FY 2025 FY 2024 ASSETS (in Million Php) (in Million Php) Cash and Cash Equivalents 6,924 7,437 299,926 CAPEX 28,228 26,277 227,943 235,498 Bank Debt, Bonds 131,794 106,432 193,770 Debt Profile Average Cost of Debt 6.09% 6.30% 57,504 26,736 Peso to Foreign Loans
Slide 10: Parent Company (East Zone Concession)
Parent Company (East Zone Concession)
Slide 11: Parent Company (East Zone Concession): Operating Highlights
Parent Company (East Zone Concession) Operating Highlights NRW maintained at optimal level on the back of operational (in Million Php) FY 2025 FY 2024 % Change efficiencies and improvements in facilities and network Billed Volume (in MCM) 522.6 523.7 ▼ 0.2% • BV slightly down by 0.2% with lower cons
Slide 12: Parent Company (East Zone Concession): Financial Highlights
Parent Company (East Zone Concession) Financial Highlights NIAT at Php13.5 billion driven by sustained positive (in Million Php) FY 2025 FY 2024 % Change topline performance and cost management 31,959 28,846 ▲ 11% Operating Revenues • Higher revenues driven by tariff adjustments and shift in custome
Slide 13: Non-East Zone Businesses
Non-East Zone Businesses
Slide 14: Non-East Zone (NEZ) Businesses: Financial Highlights
Non-East Zone (NEZ) Businesses Financial Highlights NEZ PH (in Million Php) FY 2025 FY 2024 % Change NIAT down 30% vs LY as recognition of one-off gain on divestment Operating Revenues 9,552 9,008 ▲ 6% translated to a higher base COS and Operating Expenses (4,687) (4,494) ▲ 4% • Revenues up by 6% dr
Slide 15: Sustainability
Sustainability
Slide 16: Sustainability Agenda Highlights
Sustainability Agenda Highlights Legend: N – New R – Recurring Sustainability remains at the core of Manila Water’s way of doing business Protect the Environment Help Communities Thrive Build a Culture of Care and Trust Advancing Environmental Stewardship through Supporting Community Resilience thru
Slide 17: Key Highlights
Key Highlights 10% 12% 51% 28.2 Consolidated EBITDA grew by 12% NIAT increased by 51% to CAPEX at Php28.2 revenues up by 10% to Php29.0 billion, supported reach Php15.8 billion, with billion for the period, in driven by implemented by disciplined cost strong business line with prudent tariff increas
Slide 18: Recent Developments
Recent Developments
Slide 19: Recent Developments: Cash Dividends
Recent Developments Cash Dividends to Common and Participating Preferred Shares (PPS) • The Board has approved the declaration of the following cash dividends for outstanding Common Shares and Participating Preferred Shares (PPS) for 2026: PER SHARE Dividend Payout Common Php 2.026 PPS Php 0.202 Rel
Slide 20: Thank you!
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