Alsons increased 2019 net income by 67% to P938m

Alsons Consolidated Resources Inc., the publicly-listed company of the Alcantara Group, posted a consolidated full-year net income of P938 million in 2019, up 67 percent from P563 million in 2018.

Alsons said net earnings attributable to the parent rose to P148 million in 2019 from P94 million in 2018.

Consolidated revenues in 2019 grew to P6.8 billion from P6.66 billion in the previous year, driven by the operation of the 210-megawatt coal-fired baseload power plant of Sarangani Energy Corp. in Maasim, Sarangani province.

The SEC plant began operating at full capacity with the start of operations of the plant’s second 105-MW Section in October 2019.

SEC currently delivers power to around six million people in Sarangani, General Santos City and other parts of Mindanao.

Alsons, the first private sector power generator in Mindanao currently has a portfolio of four power facilities with an aggregate capacity of 468 MW, serving over eight million people in 14 cities and 11 provinces, including key urban centers such as Cagayan de Oro, General Santos, Iligan and Zamboanga City

The company is building a P4.5-billion 14.5 MW, run-of -river hydro power plant at the Siguil River Basin in Maasim, Sarangani—Alsons’ first foray into the renewable energy sector.

The Siguil hydro power plant is expected to begin commercial operations in 2022 and will provide power to Sarangani, General Santos City and key municipalities of South Cotabato.

Alsons is also building the 105-MW baseload coal-fired power plant of San Ramon Power Inc. in Zamboanga City, which is scheduled to begin operations in 2023.

Apart from power generation, the company is engaged in property development. The company is in partnership with Ayala Land Inc. in the development of Azuela Cove, a 26-hectare township project in Davao City.

The first two Ayala Land Premier towers, successfully launched in 2018, are under construction.

Topics: Alsons Consolidated Resources Inc. , Alcantara Group , net income
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