Manila Water Co. Inc. · PSE:MWC
Manila Water — H1 2025 Earnings Presentation
20 slides from Manila Water's earnings presentation, Aug 8, 2025
Slide 1: 1H 2025 Analysts' Briefing
1H 2025 Analysts’ Briefing Aug 08, 2025
Slide 2: For questions and comments, send us an e-mail
For questions and comments, you may send us an e-mail at: invrel@manilawater.com
Slide 3: 1H 2025 Financial and Operating Highlights
1H 2025 Financial and Operating Highlights Billed Consolidated EBITDA NIAT CAPEX Volume Revenues +15% +15% Php11.0 Bn NIAT margin +1% +9% EBITDA Margin +2 ppts EZ: Php9.2 Bn NEZ PH: Php1.8 Bn +4 ppts • Consolidated revenues were up by 9%, primarily driven by implemented tariff adjustments in the EZ
Slide 4: Consolidated Financial Performance
Consolidated Financial Performance (in Million Php) 1H 2025 1H 2024 % Change NIAT grows by 15% with strong topline performance Billed Volume 326.5 323.4 1% and effective cost management Operating Revenues 19,996 18,354 9% COS and Operating Expenses (5,728) (5,875) (3%) • Consolidated revenues up by
Slide 5: Consolidated Financial Performance: Net income contribution per SBU
Consolidated Financial Performance Net income contribution per SBU (in million Php) 7,958 7,172 6,914 6,027 852 762 46 40 Parent NEZ - Philippines NEZ - International Conso 1H 2025 1H 2024 • Parent Company: Higher revenues from implemented tariff increases push NIAT up by 19% to Php7.2 billion • NEZ
Slide 6: Capital Expenditures
Capital Expenditures 1H 2025 1H 2024 CAPEX Highlights 1H 2025 NEZ-PH NEZ-PH East Zone: Php9.3 billion Php1,769 million Php809 million (14%) (8%) • East Bay 2 – Php2.7 billion • Wawa Ph2 - Kaysakat– Php3.5 billion • Manda West– Php0.9 billion • LTE 3 – Php0.4 billion Php11.0 billion Php10.1 billion •
Slide 7: Capital Expenditures: East Zone
Capital Expenditures: East Zone (80 MLD) Wawa-Calawis Ph1 Done with process proving (25 MLD) San Mateo – Rodriguez System Wastewater Water Treatment Plants 33% Completed Treatment Plants Wawa Ph2 - Kaysakat Wawa Ph2 -Pasig 70% Completed (220 MLD package) On-going pre works (218 MLD package) (60 MLD)
Slide 8: Capital Expenditures: NEZ – Philippines
Capital Expenditures: NEZ – Philippines Water Treatment Plant, Ilagan Water Wastewater Water Treatment Plants 90% Completed (project design reassessment ongoing) (20 MLD) BNR STP Upgrade, Clark Water Treatment Plants 99% Completed (9 MLD) Alviera STP, Estate Water Cresendo Estate Commercial Cistern
Slide 9: Balance Sheet Highlights
Balance Sheet Highlights 1H 2025 FY 2024 ASSETS LIABILITIES AND EQUITY Key Balance Sheet Items 234,108 227,943 234,108 227,943 (in million Php) 6,223 7,437 25,940 26,736 Cash & Cash Equivalents 6,223 7,437 80,980 77,334 Cash and Cash CAPEX 11,023 26,277 Equivalents Equity Bank Debt 109,319 106,432 O
Slide 10: Parent Company (East Zone Concession)
Parent Company (East Zone Concession)
Slide 11: Parent Company: Operating Highlights
Parent Company: Operating Highlights • BV declined by 1% with lower consumption from 1H 2025 1H 2024 % Change residential segment and lower cross border volume Billed Volume (in MCM) 261.7 263.4 1% • Average tariff increased by 12% with implementation of 3rd Domestic 173.0 174.6 1% tranche of RR tar
Slide 12: Parent Company: Financial Highlights
Parent Company: Financial Highlights NIAT at Php7.2 billion driven by strong topline (in Million Php) 1H 2025 1H 2024 % Change performance coupled with lower direct costs Operating Revenues 15,977 14,450 11% COS and Operating Expenses (3,928) (3,909) - • Higher revenues driven by tariff adjustments
Slide 13: Non-East Zone Businesses
Non-East Zone Businesses
Slide 14: NEZ Businesses: Financial Highlights
NEZ Businesses: Financial Highlights NEZ PH: NIAT grew 12% vs LY with solid contributions (in Million Php) 1H 2025 1H 2024 % Change from business units Operating Revenues 4,743 4,255 11% COS and Operating Expenses (2,340) (2,061) 14% • Revenues up by 11% driven largely by implemented tariff adjustme
Slide 15: Sustainability + ESG Highlights
Sustainability + ESG Highlights Q2 2025 Protect the Environment Help Communities Thrive Build a Culture of Care and Trust Energy Efficiency + Cost Reduction Resource Efficiency + Reliability Partnership thru Shared Learning Clark Water maintained NRW Boracay Water, Laguna Water at ~5% for 1st 5 mont
Slide 16: Summary
Summary • Consolidated revenues were up by 9%, primarily driven by implemented tariff adjustments in the EZ and several key NEZ PH businesses • EBITDA rose by 15% to Php14.6 billion. Topline momentum and cost efficiencies helped mitigate expenditures related to new facilities and technology platform
Slide 17: Recent Developments
” J c eb) = 2. 2 i) > 5) Q Recent
Slide 18: Overview of WawaJVCo and the Bulk Water Supply Project
Overview of WawaJVCo and the Bulk Water Supply Project [xxx] Established to develop, operate, and maintain the Wawa Bulk Purpose Water Supply Project, a critical infrastructure to augment Metro Manila’s raw water supply Location Antipolo & Rodriguez, Rizal 1. Tayabasan Weir (operational since Octobe
Slide 19: Strategic and Financial Value of WawaJVCo Integration
Strategic and Financial Value of WawaJVCo Integration 1. FINANCIALLY ACCRETIVE o MWC East Zone Concession bulk water payments will be eliminated in consolidation and replaced with internal margin capture—leading to net income accretion at the group level o While MWC has access to the water through a
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