Citicore Energy REIT Corp. (CREIT) closed its profit for the first half of the year up 12 percent to P694 million from P621 million last year.
Revenues grew 15 percent to P921 million from P800 million.
The sole renewable energy-related real estate investment trust (REIT) said the growth was driven by the full impact of the new parcels of land acquired last year.
Earnings before interest, tax, depreciation and amortization grew 14 percent.
“CREIT has sustained the delivery of attractive dividends each quarter, driven by growing lease revenues and strategic asset acquisitions aligned with Citicore Renewables’ project pipeline. This approach underscores the resilience of our REIT investment strategy, enabling the company to continually acquire value-accretive assets and closely align CREIT’s growth with that of its sponsor, CREC,” said Oliver Tan, CEO of CREIT.
