MANILA, Philippines — Semirara Mining and Power Corp. (SMPC) saw its net income plunge by 33 percent in 2025, as a downtrend in global coal benchmarks and softer domestic electricity prices outweighed record-breaking production levels.
The Consunji-led energy giant reported a net profit of P13.1 billion for the year, down from P19.6 billion in 2024. The company attributed the decline to a combination of “softer” market prices, reduced export shipments, and rising production expenses.
Despite the profit dip, SMPC achieved significant operational milestones. Coal output surged 24 percent to an all-time high of 19.9 million metric tons, while electricity sales reached a record 5,296 gigawatt hours (GWh). However, these gains were eroded by a 22-percent drop in the Newcastle Index—the regional benchmark for thermal coal—and an 8-percent slide in spot market electricity prices.
“Our operations still delivered record coal production and electricity sales,” said Maria Cristina Gotianun, president and COO of SMPC. “We are working to broaden our markets while keeping our mines and power plants running well.”
The company is currently navigating a pivotal transition period. Its 50-year government contract for the Semirara coal mine is set to expire in July 2027. Following the Department of Justice’s rejection of a 13-year extension plea, the government has placed the Semirara area and other coal blocks on the auction block.
SMPC remains confident, however, setting its sights on winning the upcoming coal bid rounds to secure its long-term operations and potentially expand into new reserves in Cagayan and Isabela provinces.
