Business Review

Manila Water’s Net Income stood at Php4.5 Billion in 2020, lower by 18 percent against the previous year mainly driven by the lower contribution from the domestic subsidiaries due to the impact of COVID-19, as well as one-off recognition of additional estimates for various exposures across the Group.

The Parent Company, which houses the East Zone Concession, recovered from the water crisis in 2019, sustaining near 100 percent water availability to its customers despite the challenges posed by the pandemic. The favorable water levels and the Company’s resilient service performance helped bolster growth. However, total revenues were affected as the new normal led to a shift in customer mix, in favor of the residential segment. Meanwhile, performance of the Non-East Zone businesses was highly affected by the restrictions brought about by the health crisis, accounting policies affecting income, as well as provisions for various exposures recognized in 2020.

12.1B

Capital Expenditure

Capital Expenditure Contribution:

81%

East Zone

19%

Domestic Subsidiaries

Revenues (in billion Php)

^* Restated to exclude discontinued operations in accordance with PFRS 5.

Net Income (in billion Php)