First Pacific Company Stock Earnings Reports

First Pacific reported a strong first half of 2025: recurring profit hit a record (up ~11% to >USD 375m) with contribution growth led by MPIC, while turnover rose slightly. Gross asset value was about USD 5.6bn with three of four core holdings (Indofood, MPIC, PLDT) each >USD1bn; the Board approved an interim distribution of HKD 0.13 per share. Indofood delivered record sales though consumer-branded margins were squeezed by higher input costs while agribusiness performed well. PLDT continued to show record revenues and EBITDA; its fintech arm Maya (Maya Innovation Holdings) is scaling rapidly (millions of depositors and borrowers) and is now profitable, with management noting potential IPO/spin-off options in the medium term. PacificLight Power (PLP) delivered strong non-fuel margins and visibility from multiyear retail contracts; a planned 670 MW CCGT project (~USD 900m total capex) will require First Pacific’s equity share (c. USD 150m) spread over several years. Philex’s Padcal remains profitable and the higher-grade Silangan project targets Phase 1 commercial operations next year. Balance sheet metrics remain healthy: interest costs down, interest coverage ~4x, investment-grade ratings (S&P, Moody’s) with stable outlook, and manageable debt maturities (near-term refinancing in place). Management reiterated confidence in continued medium-term earnings growth and highlighted some dividend timing effects (one-off sequencing) affecting H1 dividend income comparisons.