CREIT posts P1.25 billion net income in 2022


Posted at Mar 29 2023 09:43 AM

MANILA - Listed renewable energy real estate investment trust Citicore Energy REIT Corp (CREIT) said on Wednesday its net income in 2022 grew over 5 times to P1.25 billion.

Revenues also rose by more than 4 times to P1.37 billion, buoyed by its land portfolio, CREIT said in a disclosure to the stock exchange.

"The higher income we generated as a renewable energy REIT allows us to share a bigger pie with our investors and other stakeholders," said CREIT President and CEO Oliver Tan. 

"Our commitment to shared prosperity extends beyond the financial aspect as we also continue to strengthen our Agro-solar and sustainability initiatives, expanding the use of the land as we share our farmer community stakeholders," he added.

Tan said the company remains committed to build its green asset portfolio and pursue its 5GW pipeline project growth roadmap. 

It declared a total dividend of P0.183 per share.

CREIT is the first renewable energy-themed real estate investment trust to list in the stock exchange.


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