Business Review

Megawide’s healthy financial results translate to efficient wealth distribution, helping our country grow and enabling us to share material and indirect economic impacts to our local communities as well. In 2022, Megawide accelerated the thrust towards infrastructure, delving into transport-related projects that promote mobility and commercial activity.

Construction

Precast and Construction Solutions

In 2022, Megawide reintroduced our Precast and Construction Solutions (PCS) business unit, synergizing with our construction and engineering services to accelerate our turnaround times and keep up with our growing project portfolio. PCS has seen steady growth over the years, tripling its revenues in 2022 compared with 2019 and increasing its share from less than 3% to around 7% as of end last year.

Airport

In a bid to further strengthen the Company’s business and financial portfolio, Megawide and its partner GMR Airports International BV (GAIBV) executed a Share Subscription and Transfer Agreement with Aboitiz InfraCapital. Inc. (AIC), for the latter to acquire shares in GMR-Megawide Cebu Airport Corporation (GMCAC). The developer and operator of the award-winning Mactan Cebu International Airport (MCIA).

The agreement closed on December 2022.

Landport

The Parañaque Integrated Terminal Exchange (PITX) continued to exceed pre-Covid levels and averaged 107,000 passengers daily in 2022, with the peak at 147.000 passengers in December. With the healthy foot traffic, monthly commercial sales likewise reached a record high in December 2022, amounting to Php 110 million, with average daily passenger spend recorded at Php 25 per passenger. This was attributed to new retail and food offerings at the terminal catering to the thousands of daily visitors at PITX.

Public Market

The modernization of the Carbon District in Cebu City continued in 2022, involving progress on the public market building and redevelopment of key public spaces surrounding the area. Megawide leveraged its engineering excellence and collaboration with our stakeholders. completing the construction of the new Sto. Niño Chapel, a multilevel open-plan interim market building, and mechanical parking.