MACROASIA Corp. reported a 20.78% year-on-year increase in its first-quarter (Q1) attributable net income, reaching P313.91 million, driven by strong performance in its aviation services and food units.
For the January-to-March period, the company posted combined revenues of P2.35 billion, a 5.86% increase from P2.22 billion during the same period last year.
The majority of the company’s revenue, P1.15 billion, came from in-flight and other catering services, reflecting an 8.49% growth from P1.06 billion in the previous year.
This increase was driven by a 13% rise in meal count, which reached 6.25 million from 5.53 million, the company said.
Ground handling and aviation services generated P1.02 billion in revenues, a 2% increase from P998 million in the prior period. Water distribution revenues reached P171.6 million, an 11.36% increase from P154.1 million last year, while revenues from other services grew by 38.38% to P13.7 million from P9.9 million in Q1 2024.
Despite the growth in revenues, MacroAsia noted that the slight increase in ground handling and aviation services revenue was attributed to a decrease in the number of flights handled, which dropped to 47,546 from 48,085 in the same period last year.
The company’s total expenses rose by 11.34% to P2.16 billion, up from P1.94 billion in the first quarter of 2024.
MacroAsia further highlighted that passenger load and flight frequency continue to drive growth in its aviation services.
“[The] privatization of NAIA operations is expected to lead to increased flight volumes and passenger traffic as airport facilities expand and operational efficiency improves,” it said, adding that it anticipates costs at the airport to rise as the country’s primary gateway is now managed by a private operator.
The company is also exploring the expansion of its food catering services outside Metro Manila to increase production capacity at its Muntinlupa commissary. Contracts are being secured for the construction of facilities within MacroAsia-owned property.
“The Food Group’s strategy to diversify its revenue base beyond aviation catering has yielded positive results, with several major accounts already secured and being served,” the company said.
On the local stock exchange, shares of MacroAsia closed at P3.85 apiece, down by two centavos or 0.52%, on Wednesday. — Ashley Erika O. Jose
