ACEN Corporation, which is the energy company owned by the Ayala Group, announced that it made ₱2.9 billion in profits during the first three months of 2026, according to their official filing with the Securities and Exchange Commission on May 12, 2026.

What Does ACEN Do?

ACEN is a company listed on the Philippine Stock Exchange (PSE:ACEN) that focuses on renewable energy – that’s energy from natural sources like the sun, wind, and heat from the earth that won’t run out. Think of it like using sunlight to power your calculator instead of batteries. The company operates not just in the Philippines, but also in other countries like Australia, India, Vietnam, and Lao PDR.

How Much Money Did They Make?

ACEN’s ₱2.9 billion profit in the first quarter of 2026 was 50 percent higher compared to the same time last year. That’s like if you saved ₱100 last year and this year you saved ₱150 – a big improvement!

However, it’s important to understand that this profit included some special, one-time money gains totaling ₱1.5 billion. These were like surprise bonuses that won’t happen every quarter. When you take out these special bonuses, the regular core profit was actually ₱1.4 billion, which was 27 percent lower than last year.

Where Did The Special Gains Come From?

The company received several one-time payments during the quarter:

• ₱1.75 billion – Recovery money from a previous contract with Meralco (this was related to a “Change in Circumstance” claim)
• ₱1.4 billion – Gain from consolidating their joint venture in India
• Minus ₱1.2 billion – Money set aside for potential issues with their Vietnam business, where they’re discussing possible tariff reductions with EVN (the electric company in Vietnam)

More Green Energy Being Produced

The good news is that ACEN produced much more renewable energy than before. They generated 2,230 gigawatt-hours (GWh) of renewable electricity – that’s 32 percent more than the same period last year. A gigawatt-hour is enough electricity to power about 700 Filipino homes for a whole year.

The company’s core EBITDA (which is a way to measure how much money a business makes before paying interest, taxes, and other costs) grew by 20 percent to ₱6.7 billion, showing that the business is getting stronger.

How Each Country Performed

Philippines Operations

In the Philippines, ACEN’s renewable energy plants generated 636 GWh of electricity, up 29 percent from last year. This growth happened mainly because their wind farms in Ilocos Norte (Pagudpud and Capa) were back to almost full operation after previous issues. The Philippine business earned ₱9.8 billion in revenue (up 14 percent) and ₱2.9 billion in EBITDA (up 28 percent).

ACEN’s retail electricity business (ACEN RES), which sells electricity directly to businesses and customers, is also growing well. They now have 508 megawatts of customers and hold 57 percent of the Green Energy Option Program (GEOP) market. New customers include Makati City government, Lawson convenience stores, and Serenitea.

Australia Operations

Australia had impressive growth with generation increasing 87 percent to 528 GWh. This happened because their solar farms had better sunlight and less interruptions, plus their Stubbo Solar facility was operating for the full three months. Revenue increased 76 percent to ₱1.45 billion and EBITDA grew 59 percent to ₱1 billion.

Other International Markets

In India, generation stayed flat at 231 GWh as they’re still building several new projects. In the Mekong region (Vietnam and Laos), generation rose 20 percent to 556 GWh, helped by the new Monsoon Wind farm in Lao PDR starting operations. Other markets like Indonesia produced 279 GWh, up 18 percent from last year.

Company’s Financial Position

As of the end of March 2026, ACEN had total assets worth ₱381.5 billion (up 5 percent from last year) and cash reserves of ₱16.0 billion. The company’s debt stood at ₱158.3 billion.

What The Leaders Said

Eric Francia, ACEN’s President and CEO, explained that despite global uncertainties, the company remains focused on energy security and renewable energy transition. He emphasized that their construction plans continue as scheduled.

Jonathan Back, ACEN’s Group CFO and Chief Strategy Officer, noted that while the quarter had several one-time transactions, these – combined with growing renewable energy generation – strengthen the company’s financial foundation. He said their priorities are maximizing output from existing plants, maintaining construction momentum, and managing costs carefully.

Sustainability Efforts

ACEN is also working on recycling and reusing old solar panels from their SaCaSol facility. Around 33,000 panels will be given to off-grid communities, schools, and barangay halls in Negros Occidental, helping provide clean energy to areas that need it.

About ACEN Corporation

ACEN currently has over 7 gigawatts of renewable energy capacity from projects that are either operating or being built. The company generates 100 percent renewable energy and aims to achieve Net Zero greenhouse gas emissions by 2050.

This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.