Manila Water Co. Inc. · PSE:MWC
Manila Water — FY2024 Earnings Presentation
20 slides from Manila Water's earnings presentation, Feb 24, 2025
Slide 1: FY 2024 Analysts' Briefing
FY 2024 Analysts’ Briefing February 24, 2025
Slide 2: FY 2024 Analysts' Briefing
FY 2024 Analysts’ Briefing February 24, 2025
Slide 3: 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 4: FY 2024 Financial and Operating Highlights
FY 2024 Financial and Operating Highlights Billed Consolidated EBITDA NIAT CAPEX Volume Revenues +26% +88% Php26.3 Bn NIAT margin +3% +19% EBITDA Margin +11 ppts EZ: Php23.6 Bn NEZ PH: Php2.7 Bn +4 ppts • Consolidated revenues up by 19% driven by sustained billed volume growth and implemented tariff
Slide 5: Consolidated Financial Performance
Consolidated Financial Performance (in Million Php) FY 2024 FY 2023 % Change NIAT surged by 88% with strong topline Operating Revenues 36,647 30,710 19% performance and effective cost management COS and Operating Expenses (11,788) (10,794) 9% Other Income (Expenses) – Net 996 598 67% • Consolidated
Slide 6: Consolidated Financial Performance: Net income contribution per SBU
Consolidated Financial Performance Net income contribution per SBU (in million Php) 12,408 FY 2024 FY 2023 10,500 8,809 5,593 2,261 750 (3,991) (3,961) Parent a NEZ - Philippines b NEZ - International b Conso a) East Zone NIAT – presented above is before impairment provision for MWAP investment. Eas
Slide 7: Capital Expenditures
Capital Expenditures FY 2024 FY 2023 CAPEX Highlights FY 2024 NEZ-PH NEZ-PH East Zone: Php23.6 billion Php 2.7 billion Php2.4 billion (10%) (11%) • East Bay 2 (w/ LTE 3) – Php7.6 Bn • Wawa-Calawais Ph2 – Php5.6 Bn • Manda West– Php1.5 Bn • Hinulugang Taktak and San Mateo – Php1.2 Bn Php26.3 billion
Slide 8: Capital Expenditures: East Zone
Capital Expenditures: East Zone (80 MLD) Wawa-Calawis Ph1 Ongoing Facility Hand-over San Mateo – Rodriguez Sewerage System 37% Completed Wastewater Water Treatment Plants (restructured work packages) Treatment Plants (438 MLD) Wawa-Calawis Ph 2 43% Completed (220 MLD package) (60 MLD) Manda West – S
Slide 9: Capital Expenditures: NEZ – Philippines
Capital Expenditures: NEZ – Philippines Water Treatment Plant, Ilagan Water Wastewater Water Treatment Plants 90% Completed (project design reassessment) (20 MLD) BNR STP Upgrade, Clark Water Treatment Plants 88% Completed (9 MLD) Alviera STP, Estate Water Cresendo Estate Commercial Cistern Project,
Slide 10: Balance Sheet Highlights
Balance Sheet Highlights ASSETS LIABILITIES AND EQUITY FY 2024 FY 2023 227,943 209,688 227,943 209,688 7,437 Key Balance Sheet Items 26,736 10,753 (in million Php) 27,609 77,336 Cash and Cash 70,119 Cash & Cash Equivalents 7,437 10,753 Equivalents CAPEX 26,373 21,585 Other assets Equity Bank Debt 10
Slide 11: Parent Company (East Zone Concession)
Parent Company (East Zone Concession)
Slide 12: Parent Company: Operating Highlights
Parent Company: Operating Highlights • Continued recovery of consumption across domestic and industrial segments, with industrial accounts leading the way in line with increased economic activity FY 2024 FY 2023 % Change • Average tariff increased by 19% with implementation of 2nd Billed Volume (in
Slide 13: Parent Company: Financial Highlights
Parent Company: Financial Highlights Parent Core NIAT at Php12.4 billion driven by (in Million Php) FY 2024 FY 2023 % Change higher tariff and steady billed volume growth Operating Revenues 28,846 24,106 20% COS and Operating Expenses (8,138) (7,165) 14% • Higher revenues driven by tariff adjustment
Slide 14: Non-East Zone Philippines
Non-East Zone Philippines
Slide 15: NEZ PH: Consolidated Financial Highlights
NEZ PH: Consolidated Financial Highlights (in Million Php) FY 2024 FY 2023 % Change Operating Revenues 9,008 6,990 29% NEZ PH 2024 NIAT more than 3x vs LY with solid COS and Operating Expenses (4,494) (3,848) 17% contributions from business units Other Income (expenses) – net 34 (4) 950% • Revenues
Slide 16: Non-East Zone International
Non-East Zone International
Slide 17: NEZ INTL: Operating & Financial Highlights
NEZ INTL: Operating & Financial Highlights NEZ INTL experienced lower contribution from Thailand investment and Vietnam businesses during the period (in Million Php) FY 2024 FY 2023 % Change Equity share in net income of 867 502 73% • Equity share in net income at Php867 million with gain in associa
Slide 18: Sustainability + ESG Highlights
Sustainability + ESG Highlights Q4 2024 Protect the Environment Help Communities Thrive Build a Culture of Care and Trust Wastewater Enhancements Community Empowerment Excellence in Gender Equality 6 km sewer lines built using East Ave STP upgrades BNR to advanced techniques aim to Manila Water wins
Slide 19: Summary
Summary • Consolidated revenues up by 19% driven by sustained billed volume growth and implemented tariff adjustments in the EZ and several key NEZ PH businesses. • EBITDA set a new record-high of Php25.9 billion with robust revenues outpacing costs. EBITDA margin improved by 4 ppts to 71%. • Core N
Slide 20: Thank you
Thank you For more information, please contact Manila Water Investor Relations via email invrel@manilawater.com Or visit www.manilawater.com/investor