Manila Water Co. Inc. · PSE:MWC
Manila Water — H1 2026 Earnings Presentation
17 slides from Manila Water's earnings presentation, Aug 7, 2026
Slide 1: 1H 2026 Analysts' Briefing
1H 2026 Analysts’ Briefing via Microsoft Teams Town Hall August 7, 2026
Slide 2: 1H 2026 Highlights
Sustained revenue growth Earnings and margin strength Net income growth remained resilient underpinned by stable contribution anchored on effective cost amid higher depreciation and interest from core business and management and operational expenses implementation tariff adjustments efficiency initi
Slide 3: Consolidated Financial Performance Highlights
Consolidated Financial Performance Highlights Operating fundamentals remained strong, with revenue and EBITDA growth supported by tariff adjustments and cost discipline despite investment-cycle headwinds. In Mn Php 1H 2026 1H 2025 % Change 2025 2024 2023 Billed Volume 328.0 326.5 ▲ 0.4% 652 649 632
Slide 4: 1H 2026 Capital Expenditures Update
1H 2026 Capital Expenditures Update Investments remained focused on ensuring water security and service reliability in compliance with service obligations East Zone (EZ): Php5.74 Bn • BNAQ7 & and other CPF project – Php0.9 Bn • San Mateo-Rodriguez Sewer Network – Php0.9 Bn • Wawa-Kaysakat – Php0.8 B
Slide 5: East Concession and Non-East Zone Capital Expenditures | Plant Update
East Concession and Non-East Zone Capital Expenditures | Plant Update (220 MLD) Wawa-Kaysakat (218 MLD) Wawa-Pasig (200 MLD) East Bay Phase 2 (16 MLD) Hinulugang Taktak 90% completed 7% completed (Ongoing Design and 90% completed System ― 96% completed (Ongoing Procurement) process proving) Legend (
Slide 6: Consolidated Balance Sheet Highlights
Consolidated Balance Sheet Highlights Strong balance sheet underpinning near-term priorities and long-term growth objectives Key Balance Sheet Items Debt Maturity Profile Jun. 2026 Dec. 2025 (in Millions Php) in Mn Php Assets 304,230 299,926 Parent Subsidiaries Liabilities 204,710 204,837 14% 44,372
Slide 7: Proactive Response to Key Risks
Proactive Response to Key Risks Disciplined and deliberate identification/mitigation of key business and operational risks Water Supply Risk (El Niño) Manila Water’s Key Mitigants Risk State: ▪ Weak to moderate El Niño conditions are present in the tropical Pacific ▪ Prolonged dry conditions may con
Slide 8: Parent Company
Parent Company (East Zone Concession and WawaJVCo)
Slide 9: Parent Company + WawaJVCo Operating & Financial Highlights
Parent Company + WawaJVCo Operating & Financial Highlights Earnings remained robust, as bottom line expanded by 9% driven by steady customer demand and tariff-related revenue growth, despite rising depreciation and interest expenses associated with continued infrastructure build-up and strategic inv
Slide 10: Water Security is Our Priority
Water Security is Our Priority Our infrastructure investments continue play a crucial role in safeguarding water supply and reinforcing service reliability across our concession area Dam Levels New Water Source as of August 7, 2026 Angat 158.12 m LT Water Dam High Water Level: 212 m ~1,900 MLD Minim
Slide 11: Non-East Zone Businesses
Non-East Zone Businesses
Slide 12: Non-East Zone Philippines Financial Performance Highlights
Non-East Zone Philippines Financial Performance Highlights NEZ PH earnings up by 15% supported by tariff adjustments, billed volume growth and higher supervision fees from key business units NEZ Philippines 1H 2026 1H 2025 % Change Operating Revenues 4,857 4,743 ▲ 2% ▲ COS and Operating Expense -2,2
Slide 13: Sustainability
Sustainability
Slide 14: Sustainability as Our Core Strategy
Sustainability as Our Core Strategy Sustainability remains at the center of Manila Water’s way of doing business Legend: N – New R – Recurring Protect the Environment Help Communities Thrive Build a Culture of Trust and Care Watershed protection, renewable energy transition, Expanded access to water
Slide 15: Key Highlights
Key Highlights 11% 13% Consolidated revenues up by 11% to EBITDA rose by 13% to Php16.4 Bn 6% NIAT grew by 6% to Php8.5 Bn, 6.8 CAPEX at Php6.8 Bn, on track Php22.2 Bn on stable contribution from sustained by effective cost controls resilient despite rising with disciplined project core business and
Slide 16: Thank you
Thank you
Slide 17: Slide 17