Megawide Construction Corp. closed the first half of the year with a reported net income of P436.41 million, slightly down by 0.27 percent from P437.58 million last year.
The construction and diversified services company, in a statement, said that revenues hit P8.6 billion, down 24.62 percent from P11.41 billion last year, as projects under construction enter the tail-end of the life cycle.
“Based on our performance in the first six months of the year, we are on track to outpace our net income from the previous year,”said Edgar Saavedra, Megawide chairman and chief executive officer (CEO). “This is also partly driven by the increasing contribution from our real estate business, which is steadily emerging as a new growth driver. Other business segments are expected to complement our consolidated overall performance as we replenish our orderbook for EPC and Precast and Construction Solutions (PCS) from both external and internal clients.”
In terms of segment, construction operations contributed P7.3 billion and accounted for 85 percent of total consolidated revenues.
“The performance was traced to the winding down phase for a number of ongoing projects, which generally churn in lower revenues based on the S-Curve but deliver higher margins,” the company said.
Megawide meanwhile said that revenue from real estate operations hit P1.1 billion – more than 3x from the comparative period in 2024 – coming from ongoing projects, such as My Enso Lofts, The Hive, Northscapes, Modan Lofts, One Lancaster Park and Lykke Condo.
“With healthy sales at P1.7 billion for the first half – 64 percent higher year on year – this brought unbooked revenues to a healthy level of P8.8 billion,” it said.
Landport operations, meanwhile, posted P217 million in revenues, 6 percent higher than last year’s P204.72 million.
“The segment benefitted from the steady influx of passengers in the terminal, which averaged 164.8 thousand by end June and translated to a higher spend per passenger at P34.7,” the company said.“Commercial occupancy remained healthy at 98 percent while signed contracts for office spaces were at 47 percent.” As of end June 2025, Megawide had a construction order book of P37.7 billion. New contracts amounted to P2 billion from Towers 2 and 3 of PH1 World Developers Inc.’s (PH1) Modan Lofts Ortigas Hills and Citicore’s Lucanin Solar Power Plant, together with Battery Energy
Storage Systems for Bolbok and Lumbangan solar plants.
“Megawide is currently bidding for high-value projects estimated at P20 billion, which will shore up its year-end order book to P50 billion,” Saavedra revealed.
Megawide recently broke ground for the Caticlan Airport Terminal last July, which it hopes to serve as springboard for other transport infrastructure projects in the future.
