Megawide Construction Corp. reported a 26 percent year-on-year increase in first-quarter consolidated net income to ₱265 million, the listed engineering and construction firm said in a Philippine Stock Exchange (PSE) disclosure on Thursday, as a sharply stronger real-estate segment and an aggressive paydown of short-term debt offset a near-flat landport business.
Revenues from operations grew 14 percent to ₱4.81 billion (against gross revenue of ₱5.04 billion, up 16.4 percent on the broader line). Construction remained the dominant contributor at ₱3.84 billion, up 5 percent, while real estate more than doubled its top-line contribution to ₱831 million. Landport operations held steady at ₱138 million but posted a slight loss at the segment-earnings line. Construction contributed ₱262 million to the company’s bottom line and real estate brought in ₱14 million, with landport offsetting marginally.
The company’s consolidated gross margin widened to 24 percent from 22 percent a year earlier, and net margin ticked up to 6 percent from 5 percent. The most material balance-sheet shift was a roughly ₱6 billion cut in short-term debt during the quarter, taking the bank debt-to-equity ratio to 1.1 times at end-March from 1.54 times at end-December 2025, with the net debt-to-equity ratio likewise breaking the one-times mark at 0.8 times against 1.1 times. The reduction is expected to unlock an estimated ₱250 million to ₱300 million in annual interest savings going forward, with Chief Financial Officer Jez dela Cruz committing to a further ₱2.5–3.0 billion in short-term debt paydown over the balance of the year.
“Our results in the first three months is consistent with our back-ended target for the year,” Megawide chief executive Edgar Saavedra said in the disclosure. The construction order book stood at ₱48.7 billion as of end-March, the operational base for the back-loaded full-year delivery Saavedra cited.
Megawide trades on the PSE under the ticker MWIDE. The next major financial marker is the half-year filing, typically expected in August, when the company will mark whether the back-loaded earnings target is on pace.
