Megawide Construction Corp. (Megawide) booked a consolidated net income of P436 million in the first six months of 2025, equivalent to 81 percent of its full-year 2024 earnings.
Consolidated revenues during the period reached P8.6 billion, as several projects neared completion. Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at P2.44 billion.
“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. This is also partly driven by the increasing contribution from our real estate business, which is steadily emerging as a new growth driver,” Megawide Chairman and CEO Edgar Saavedra said.
Saavedra said that other business segments are expected to complement the company’s consolidated overall performance as we replenish our order book for EPC and Precast and Construction Solutions (PCS) from both external and internal clients
Segment performance
Construction operations contributed P7.3 billion, or 85 percent of consolidated revenues. The company attributed the figure to the winding down of ongoing projects, which typically generate lower revenues but higher margins at this stage of their cycle.
Real estate operations surged, with revenues of P1.1 billion—more than triple from the same period last year—driven by projects such as My Enso Lofts, The Hive, Northscapes, Modan Lofts, One Lancaster Park, and Lykke Condo. Sales reached P1.7 billion in the first half, up 64 percent year on year, pushing unbooked revenues to P8.8 billion.
Landport operations delivered P217 million in revenues, a 6-percent increase from last year, contributing about 3 percent to the total. The segment benefited from a steady passenger influx averaging 164,800 by end-June, which translated to higher passenger spending of P34.70. Commercial occupancy remained strong at 98 percent, while signed office contracts stood at 47 percent.
Order book and projects
Megawide’s order book as of June 2025 stood at P37.7 billion. New contracts worth P2 billion were added, including Towers 2 and 3 of PH1 World Developers Inc.’s Modan Lofts Ortigas Hills, Citicore’s Lucanin Solar Power Plant, and battery energy storage systems for the Bolbok and Lumbangan solar plants.
The company said it remains committed to pursuing scalable and socially responsive platforms such as the government’s flagship Pambansang Pabahay Para sa Pilipino (4PH) program.
“Our foray into the 4PH is expected to help address the six million housing backlog and further harness synergies within the Group, by boosting the order book for both EPC and PCS from the internal front,” Saavedra said.
“Specifically, we broke ground for four new locations under the 4PH – two each in Bacoor and Dasmarinas. Together with our maiden project Avesta in Imus, PH1 is expected to deliver approximately 7,000 housing units from these projects in the next 2-3 years, in Cavite alone,” he added.
In July, Megawide broke ground for the Caticlan Airport Terminal, which the firm hopes will serve as a springboard for other transport infrastructure projects. The company is also bidding for projects worth P20 billion, which could expand its year-end order book to P50 billion.
