Semirara lays off 996 workers as Acacia risk tests Semirara stock

Published on 10/05/2026 at 07:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

H1 net income reached PHP 8.6 billion, up 2 percent year over year. Maybank rates Semirara stock Neutral at a PHP 24.75 average target.

Semirara, PHY7628G1124, Illustration mit AI erstellt.

Semirara Mining and Power (PHY7628G1124) is laying off 996 workers as seawater inflows restrict its Acacia coal mine. Philstar.com reported on October 3, 2026, that the company had suspended part of its stripping work after seawater inflows reached 30,000 cubic meters per hour. The development puts the mine's 2027 production contribution under pressure.

Acacia cuts production flexibility

The redundancy program follows an earlier reduction affecting 462 mine-site employees. Semirara retains a 2026 coal production target of 12 million metric tons, compared with record output of 19.9 million metric tons in 2025, according to Philstar.com.

The numerical gap is material: the 2026 target is 7.9 million metric tons below the 2025 record, a 39.70 percent difference calculated against the prior output. The existing coal contract is due to expire in July 2027, adding a regulatory deadline to the operational challenge, as Philstar.com reported.

Power now carries earnings

Semirara's first-half 2026 results show why the power business is central to the investment case. Net income reached PHP 8.6 billion, up 2 percent from the first half of 2025, while power contributed 70 percent of earnings, according to Quartr.

Second-quarter revenue rose 25 percent year over year to PHP 18.6 billion, while net income increased 17 percent to PHP 4.8 billion. The comparison is uneven across segments: power contribution nearly doubled to PHP 4.57 billion, but coal contribution fell 90 percent to PHP 191 million, Quartr said.

October 30 sets next checkpoint

Semirara's next earnings report is scheduled for October 30, 2026, giving investors a defined date to assess whether the power segment can offset the mine disruption. Quartr lists the release as the company's third-quarter 2026 earnings event.