Maynilad Water Services, Inc. (PSE:MYNLD) reported steady operational performance in 2025, anchored by a material reduction in non-revenue water (NRW) and sustained water service coverage across its West Zone concession area, based on its official recent disclosure to the Philippine Stock Exchange [1].
The disclosure formally documents operational progress previously outlined in the company’s previous media release [2], particularly on NRW reduction.
According to Maynilad’s regulatory filing, the company continued to expand water service connections in 2025 across both domestic and non-domestic customer segments.
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Residential accounts remained the dominant portion of the customer base.
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Water service coverage across the West Zone stayed high.
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Service continuity was sustained, with most customers receiving uninterrupted water supply.
The company did not report any material service disruptions or contraction in coverage during the year.
Billed Volumes Remain Stable
Maynilad disclosed that billed water volumes in 2025 remained stable across customer classes.
Residential customers continued to account for the largest share of demand, followed by semi-business, commercial, and industrial users. Variations in billed volume were attributed to normal seasonality and customer consumption behavior.
No abnormal shifts in demand composition were indicated in the disclosure.
Billing and Collection Performance
The company reported maintaining strong billing and collection performance for both water and sewerage services throughout 2025.
Collections were supported by established customer payment channels, with residential customers remaining the primary source of billings. The disclosure did not flag any deterioration in collection efficiency or payment behavior.
Non-Revenue Water Falls to 30.7%
The most significant operational development for 2025 was the reduction in non-revenue water.
Maynilad reported:
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Year-end NRW: 30.7%
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December 2024 NRW: 38.4%
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2025 average NRW: 34.9%
This reduction represents a 7.7-percentage-point improvement year-on-year.
In its January 26 release, Maynilad stated that the improvement translated to 256 million liters per day of recovered water, roughly equivalent to the output of a water treatment plant and sufficient to meet the daily needs of more than 1.6 million people.
The company attributed the NRW reduction to intensified operational measures, including leak detection and repair, pipeline rehabilitation, pressure management, and network optimization.
During 2025, Maynilad disclosed that it:
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Repaired over 70,000 small leaks
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Addressed 206 major pipe leaks in primary distribution lines
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Replaced 82 kilometers of aging pipelines in high-loss areas
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Deployed technology-enabled tools, including AI-assisted leak detection systems, to improve field efficiency
These initiatives form part of the company’s multi-year NRW reduction program.
Maynilad also reported continued expansion of its sewerage network in 2025, increasing service coverage within its concession area.
In addition, the company carried out septic tank desludging activities across multiple service areas in compliance with sanitation service obligations, supporting public health and environmental objectives.
The company reiterated that NRW reduction remains a core component of its business plan for the 2023–2027 rate rebasing period, with a stated target of reducing NRW to 25% by 2027.
Key Takeaways
Based on Maynilad’s official disclosures to regulators:
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Core water operations remained stable in 2025
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Service coverage and continuity were sustained
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Billing and collection performance held up
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NRW reduction showed measurable operational progress
The update underscores operational progress without altering the company’s strategic direction, concession structure, or regulatory commitments, with non-revenue water reduction emerging as the key execution result.
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