Semirara Mining stock: Power earnings lift nine-month profit

Semirara Mining and Power reported net income of 11.02 billion Philippine pesos for the first nine months of 2026, up from 9.89 billion pesos a year earlier. The result reflects stronger power earnings that more than offset a weaker contribution from coal, according to The Manila Times.

Power offsets weaker coal

Revenue increased to 46.66 billion pesos from 43.26 billion pesos. In the third quarter, power revenue rose to 7.29 billion pesos from 5.54 billion pesos, while gross generation increased to 1,480 gigawatt-hours from 1,442 gigawatt-hours.

The average electricity selling price climbed to 5.27 pesos per kilowatt-hour from 4.17 pesos. Semirara said higher prices and sales supported the power business, while it plans to balance contracted electricity sales with exposure to the spot market and expand retail supply contracts.

Coal production faces pressure

Coal revenue declined to 7.61 billion pesos in the third quarter from 8.04 billion pesos. Production fell to 3.6 million metric tons from 3.8 million metric tons, while shipments dropped to 2.7 million metric tons from 3.6 million metric tons.

The company attributed the production decline to stripping work at the mature Narra mine and limited activity at Acacia, where operations were restricted to areas with controlled water seepage. Export sales also weakened because demand for available lower-grade coal softened and the product mix did not match buyer requirements.

Capital spending shifts to power

Capital expenditure fell to 1.10 billion pesos in the first nine months from 5.30 billion pesos a year earlier. Semirara expects full-year capital spending of about 1.70 billion pesos, with 76 percent earmarked for power and the remainder for coal.

For investors, the results underline the growing importance of the electricity business as coal volumes weaken. Management expects international coal prices to remain sensitive to liquefied natural gas availability, weather and the recovery of coal supply, while electricity prices could ease next year as new generation and battery storage capacity enters the market.

Integrated Philippine energy operator

Semirara Mining and Power is based in the Philippines and combines coal production with baseload power generation through Sem-Calaca Power Corporation and Southwest Luzon Power Generation Corporation. The company says it is the Philippines' largest coal producer, while its power subsidiaries supply the national grid.

Its position differs from diversified power producers such as AboitizPower, which has the largest share of Philippine power generation, and Meralco PowerGen, which is expanding its generation portfolio. Semirara remains more specialized in the coal-to-power chain, making coal production and plant performance central to its earnings profile.

Semirara Mining and Power is listed on the Philippine Stock Exchange under ticker SCC. Its investor-relations page provides company information and shareholder disclosures.

Further company information is available from Semirara Mining and Power investor relations.