Semirara Mining and Power (SCC) investor relations material

Executive summary

• Net income for Q2 2026 rose 17% year-over-year to PHP 4.8 billion, driven by record power segment performance that offset a 90% plunge in coal contribution.

• H1 2026 net income reached PHP 8.6 billion, up 2% year-over-year, with power contributing 70% of earnings and coal contribution down 38%.

• Power segment accounted for 96% of Q2 and 70% of H1 group earnings, reflecting a shift in earnings mix.

• Strong balance sheet with net cash position of PHP 12.8 billion and debt-to-equity ratio at 0.25x.

• Total revenues for Q2 2026 increased 25% to PHP 18.6 billion, and H1 revenues grew 9% to PHP 34.0 billion, mainly from higher coal and electricity prices.

Financial highlights

• Q2 2026 revenues grew 25% year-over-year to PHP 18.6 billion; H1 revenues up 9% to PHP 34.0 billion.

• Core EBITDA for Q2 up 12% to PHP 7.27 billion; H1 core EBITDA up 3% to PHP 13.6 billion.

• Q2 net income margin at 26%, EBITDA margin at 39%; H1 ROE at 14%.

• Coal segment Q2 contribution fell 90% to PHP 191 million; power segment Q2 contribution nearly doubled to PHP 4.57 billion.

• Cash and cash equivalents surged to PHP 18.3 billion from PHP 4.36 billion at year-end 2025.

Outlook and guidance

• Coal production target for 2026 revised to 12–13 million metric tons, contingent on resolving water seepage at Acacia and expanding safe mining access.

• 2026 coal shipment target at 14 MMT (59% domestic, 41% export); power segment targeting 79–96% plant availability, with 52% of 860 MW capacity contracted as of June 30, 2026.

• Coal prices expected to remain supported through year-end, stabilizing in 2027, with market influenced by supply, policy, and competing fuel prices.

• Management confident in securing new power contracts by Q4 2026, supporting stable revenue through 2028.

• 2026 capex expected to decline to PHP 1.9 billion, reflecting deferred coal investments pending COC bidding results.