Manila Water Company, Inc.: Utility Account Brief

Executive overview

Key findings

PHP 28.23 billion: group capital expenditure in FY2025, PHP 23.64 billion of it in the East Zone

PHP 15.60 billion: procurement spend released to 816 vendors in 2025 (PHP 25.58 billion and 775 vendors in 2023)

PHP 40.18 billion: consolidated revenue in FY2025, with EBITDA of PHP 28.98 billion

420 MLD: new treatment capacity at Kaysakat and East Bay Phase 2 with no announced start-up at 3 November 2026

Buyer relevance

Who the report is for

Treatment chemical, membrane and equipment suppliers

Prepare accreditation ahead of start-up at the 220 MLD Kaysakat plant and the 200 MLD East Bay Phase 2 reverse osmosis plant.

Civil, pipe and sewer contractors

Size the sewerage programme to the 2037 coverage deadline and see which consortia hold East Bay Phase 2 and Aglipay.

Banks and financial advisers

Review the PHP 129.90 billion of long-term debt, the US$500 million bonds due 2030 and the possible Kaliwa co-financing call.

Energy and solar providers

Assess demand from a utility with a 2.95% renewable share in FY2025 and a stated aim of 100%.

Decision scope

Questions answered

How does Manila Water buy?

All vendors go through accreditation and pre-qualification, and orders run on an Ariba platform; 816 vendors received PHP 15.60 billion of orders in 2025.

Who holds the East Bay Phase 2 contract?

An ACCIONA, Prime Metro BMD and Santa Clara International consortium holds the 200 MLD East Bay Phase 2 contract, announced on 17 July 2023.

Which large treatment phase is in preparation?

Wawa–Calawis Phase 3, at 218 MLD, was in pre-works at end-2025.

How much is it spending?

Group capital expenditure was PHP 28.23 billion in FY2025, PHP 23.64 billion of it in the East Zone, and PHP 6.80 billion in the first half of 2026.

Inside the report

Inside the complete report

1. The Account at a Glance

2. Organisation and Decision-Making

3. Financial Position

4. Priorities and Pressures

5. How Manila Water Company, Inc. Buys

6. Opportunity Register

7. Commercial Priorities: Where to Focus First

8. Watch List: What to Monitor and What to Do

Source Register

Public preview

What to watch next

Kaysakat and East Bay Phase 2 start-up

Triggers operating demand for chemicals, spares and services.

Seventh rate rebasing (from 2028)

Sets the capital plan and the tariffs that fund it, including Wawa costs.

Kaliwa Dam financing

A possible new call on Manila Water's balance sheet.

Third-quarter and full-year 2026 results

Show 2026 capital spending and debt.

Landscape report page with an opportunity register table listing Manila Water projects such as Kaysakat, East Bay Phase 2 and Wawa–Calawis Phase 3 with status labels and access routes. — Sample page · page 7 of 11
Opportunity Register: projects by status, stage, existing contractors, supplier categories and route in.

Included

What you receive

The complete PDF report: 11 pages, 9 sections, 6 tables and a register of 15 sources.

This edition

November 2026, First edition.

Evidence & method

Evidence and method

The brief draws on Manila Water's 2025 Integrated Report, including its audited financial statements and supply chain data, earlier financial statements, contractor announcements and Philippine press reports on projects, tariffs and financing published up to October 2026.

Sources

15 sources, listed in the report's source register. Evidence current to 3 November 2026. Principal data periods: FY2025 audited results and integrated report (year ended 31 December 2025); first-half 2026 results; tariffs in force in 2026. Project and procurement status checked against public sources on 3 November 2026. Currency is Philippine pesos (PHP) unless stated as US dollars (US$)..

Lead analyst

Robert C. Brears

Founder, Our Future Water Intelligence

Robert C. Brears is a water-security specialist and author whose work examines utility governance, infrastructure investment, climate resilience and long-term water-system change for executive and policy audiences.

Decision-focused utility intelligence
Published water-policy author
Evidence-grounded system analysis

Buyer FAQs

Before you purchase

Who can use the report?

Licensed for internal use within one purchasing organization. The PDF and its contents may be shared with colleagues within that organization. External redistribution, resale and public publication are prohibited without permission.

How is the report delivered?

The PDF is available to download immediately after confirmed payment, through our secure delivery system.

Can my organization buy wider access?

Institutional purchasing: For invoice enquiries, multi-organization licensing or broader access requirements, contact Our Future Water Intelligence.