Builder reports robust income growth in first half of 2025

Megawide Construction Corp. reported a consolidated net income of P436 million in the first six months of 2025, representing 81 percent of its 2024 net income.

Consolidated revenues for the period amounted to P8.6 billion as projects under construction reached their final stages. Earnings before interest, taxes, depreciation, and amortization (EBITDA) were P2.44 billion.

Megawide chairman and chief executive Edgar Saavedra said the company is on track to surpass its net income from the previous year.

"This is also partly driven by the increasing contribution from our real estate business, which is steadily emerging as a new growth driver," he said.

The company's construction operations contributed P7.3 billion, accounting for 85 percent of total consolidated revenues. The performance was attributed to the winding-down phase of several ongoing projects, which typically have lower revenues but higher margins.

Revenue from real estate operations amounted to P1.1 billion, or more than three times the amount from the same period in 2024.

This was from projects such as My Enso Lofts, The Hive, and One Lancaster Park. Healthy sales of P1.7 billion in the first half of the year brought unbooked revenues to P8.8 billion.

Landport operations delivered P217 million in revenues, a 6-percent increase from the previous year, contributing almost 3 percent to the total consolidated revenues. This segment benefited from a steady influx of passengers, averaging 164,800 by the end of June.

As of the end of June 2025, Megawide's construction order book stood at P37.7 billion pesos, with new contracts totaling P2.0 billion. These new contracts include projects for PH1 World Developers Inc.'s Modan Lofts Ortigas Hills and Citicore's Lucanin Solar Power Plant.

Megawide said it remains committed to scalable and socially responsive business platforms, such as the government’s Pambansang Pabahay Para sa Pilipino (4PH) housing program.

"Our foray into the 4PH is expected to help address the six million housing backlog and further harness synergies within the Group," Saavedra said.

"We broke ground for four new locations under the 4PH—two each in Bacoor and Dasmariñas. Together with our maiden project Avesta in Imus, PH1 is expected to deliver approximately 7,000 housing units from these projects in the next two to three years, in Cavite alone," he said.

The company also recently broke ground for the Caticlan Airport Terminal in July. Megawide is bidding for projects estimated at P20 billion, which are expected to boost its year-end order book to P50 billion.