Citicore renewable sees 38% Profit Growth on Strong Power Sales

Citicore Renewable Energy Corp. (CREC) reported a net income after tax of %u20B1630 million in the first half of 2025, marking a 38-percent increase from %u20B1456 million in the same period last year, largely driven by higher electricity sales.

In a disclosure on Thursday, the renewable energy firm said revenues climbed 28 percent to %u20B12.66 billion from %u20B12.09 billion a year earlier. Earnings before interest, taxes, and depreciation rose 22 percent to %u20B1932 million from %u20B1765 million.

The gains came mainly from a 32-percent jump in electricity sales, which totaled %u20B12.29 billion from %u20B11.73 billion last year.

“CREC’s pure renewable energy platform remains an attractive choice for direct customers such as corporates and industrials,” said President and CEO Oliver Tan. “We continue to expand our customer base through our renewable energy portfolio and our commitment to providing tailored and efficient energy solutions.”

The company said it expects to complete its first additional gigawatt of renewable energy capacity by yearend, part of its goal to reach 5 gigawatts within five years.

Tan said this includes the completion of solar power plants with integrated battery energy storage systems, as well as the commissioning of its first hybrid solar facility combining AgroSolar technology and battery storage in the second half of the year.

Citicore Renewable shares inched down a centavo, or 0.24 percent, to close at %u20B14.19 on Thursday.