AIRCRAFT MAINTENANCE service provider MacroAsia Corp. more than tripled its second-quarter (Q2) attributable net income to P431.67 million, up from P134.7 million a year ago, mainly driven by increased revenue and growth across its business units.
For the second quarter, MacroAsia’s combined revenue surged by 32.8% to P2.55 billion, compared with P1.92 billion previously, the company’s financial statement showed.
This second-quarter revenue represents MacroAsia’s highest quarterly top line, the company said, adding that the revenue growth was driven by strong performance across all its business units.
Lufthansa Technik Philippines, the company’s aircraft maintenance, repair, and overhaul associate, generated quarterly income of P529.33 million, with MacroAsia’s 49% share amounting to P290.24 million, the company said in a media release.
Lufthansa Technik is planning an expansion in Clark, Pampanga, to address the increasing demand for heavy repair services for wide-body aircraft from its clients.
For the first half of the year, the company’s attributable net income more than doubled to P691.59 million, compared with P285.77 million in the same period last year.
Gross revenue expanded to P4.77 billion, up by 28.6% for the January-to-June period, compared with P3.71 billion in the same period last year.
Broken down, ground handling and aviation revenue increased to P2.19 billion, marking a 47% rise from P1.49 billion previously. In-flight and other catering revenue also grew to P2.15 billion, compared with P1.88 billion last year.
Additionally, water distribution revenue reached P327.1 million, connectivity and technology services revenue was P43.6 million, aviation training fees amounted to P36.3 million, and administrative fees totaled P26.9 million.
For the first half, gross expenses rose by 22.4% to P4.04 billion, compared with P3.3 billion in the previous year.
Additionally, MacroAsia stated that its food segment is expanding its facility outside the airport. The five-year-old facility in Muntinlupa City is now reaching full capacity due to increasing clients.
At the local bourse on Wednesday, shares in the company gained 51 centavos or 11.62% to end at P4.90 apiece. — Ashley Erika O. Jose
