Megawide Construction Corp. (Megawide), a leading engineering and construction conglomerate, today announced a robust financial performance for the first three months of 2025, demonstrating its resilience and strategic growth initiatives. The company posted a net income of PHP 210 million for the quarter, a significant 14% increase compared to the same period last year.
This positive performance comes on the heels of Megawide’s successful listing of PHP 5.3 billion worth of Series 6 Preferred Shares on the Philippine Stock Exchange. The proceeds from this listing will be utilized to refinance maturing obligations and provide partial funding for the Company’s promising growth pipeline.
Megawide reported consolidated revenues of PHP 4.20 billion for the first quarter of 2025, while its earnings before interest, taxes, depreciation, and amortization (EBITDA) reached PHP 1.11 billion.
“Our performance reflects our commitment to build on our early gains in 2024,” said Edgar Saavedra, Executive Committee Chairman of Megawide. “For instance, we have already recorded the initial net income contribution from our property development arm after our acquisition in 2023, which gave us a boost in the first quarter. We intend to sustain this momentum across all our business platforms in the coming periods as we progress with our existing contracts and projects.”
Breaking down the performance by segment, construction operations contributed PHP 3.67 billion in revenue. The company noted that this performance reflects the winding down phase of several projects, consistent with their S-Curve, which typically results in lower revenues but improved margins. Megawide’s order book remains strong at PHP 41.5 billion as of the end of March 2025, with new contracts amounting to PHP 2.0 billion secured from Towers 2 and 3 of PH1 World Developers, Inc.’s Modan Lofts Ortigas Hills.
The real estate operations segment delivered its strongest performance to date, generating PHP 397 million in revenue and achieving its first-ever net income during the quarter. This significant growth was driven by the success of projects such as My Enso Lofts, The Hive, Northscapes, Modan Lofts, and One Lancaster Park. With a healthy sales stock exceeding PHP 12 billion as of March 2025, the real estate arm is poised for continued strong revenue generation in the future.
Meanwhile, landport operations reported revenues of PHP 136 million, a notable 27% increase compared to the same period last year. This improvement was attributed to increased traffic in both office towers and commercial spaces within the terminal, benefiting from a surge in passenger volume. In the first three months of the year, the average daily foot traffic reached 156,570, with an average spending of PHP 33.2 per passenger.
Looking ahead, Megawide is actively pursuing more ventures into scalable and responsive business platforms, leveraging its core strengths in engineering and construction. The company is optimistic about sustaining its growth trajectory across all its business segments and delivering value to its stakeholders.
