Asia300

Manila Electric Co.

Philippines

  • 1m
  • 3m
  • 6m
  • 1y
  • 2y
  • 5y
May 29, 2017
Prev close: 272.8
May 29, 2017
Market cap:
Market cap(USD):
307,472.53M
6,171.66M
Shares: 1,127.09M

Currency in PHP

Company profile

Market(Ticker): PHS(MER)
Sector:
Industry:
Utilities
Electric Utilities
Full time employees: --

Business summary

Manila Electric Co. engages in the generation and distribution of electricity. It operates through the following segments: Power and Other Services. The Power segment consists of electricity distribution, power generation, and retail electricity supply. The Services and Others segment involves primarily in electricity-related services such as electro-mechanical engineering, construction, consulting, and related manpower as well as light rail-related maintenance services, electronic transaction and bills collection, insurance and electronic business development and energy systems management. The company was founded in 1903 and is headquartered in Pasig, Philippines.

Company background

Manila Electric is the Philippines' largest power distributor, serving more than 5 million customers and covering a quarter of the Philippine population. Its franchise area extends to over 100 cities and municipalities on the main Philippine island of Luzon, where Manila is located. Aside from electricity distribution, the company has also ventured into power generation through its wholly owned subsidiary,

Meralco PowerGen. Meralco PowerGen has stakes in local power generators Global Business Power and Redondo Peninsula Energy as well as in Singapore-based PacificLight Power.

The company is a subsidiary of Metro Pacific Investments, the local unit of Hong Kong-listed, but Indonesia's Salim-controlled, First Pacific. In October 2008, the Philippine Energy Regulatory Commission granted Meralco a consolidated Certificate of Public Convenience and Necessity for the operation of electric service within its franchise coverage, effective until June 2028, to coincide with its congressional franchise.

In the news

Financial highlights

Dec 2016

  • Local currency
  • US Dollar
Revenue 257,181M
Gross profit 39,230M
Operating income 35,086M
Income before tax 28,370M
Net income 19,176M
EBITDA 42,393M
Diluted EPS 17.02
Dividends per share 8.68
Total assets 296,037M
Total liabilities 220,891M
Total equity 74,417M
Operating cash flow 35,417M

Currency in PHP

Revenue 5,415.76M
Gross profit 826.11M
Operating income 738.84M
Income before tax 597.42M
Net income 403.81M
EBITDA 892.71M
Diluted EPS 0.35
Dividends per share 0.18
Total assets 5,954.98M
Total liabilities 4,443.36M
Total equity 1,496.94M
Operating cash flow 745.81M

Currency in USD

Valuation measures

Dec 2016

PER 15.56
ROA 6.63%
ROE 24.79%
Operating margin 13.64%
Profit margin 7.45%

Key executive

  • President, CEO & Non-Executive Director: Oscar S. Reyes
  • Chief Financial Officer & Senior Vice President: Betty C. Siy-Yap
  • Chief Information Officer & Vice President: Marthyn S. Cuan
  • Senior Vice President: Roberto R. Almazora
  • SVP, Head-Human Resources & Corporate Services: Ramon B. Segismundo

Share holders

  • Beacon Electric Asset Holdings, Inc.(34.9%)
  • JG Summit Holdings, Inc.(27.1%)
  • Metro Pacific Investments Corp.(15%)
  • First Philippine Holdings Corp.(3.9%)
  • The Vanguard Group, Inc.(0.6%)
  • Newton Investment Management Ltd.(0.4%)
  • LOPEZ MANUEL M(0.2%)
  • Schroder Investment Management (Singapore) Ltd.(0.1%)
  • Dimensional Fund Advisors LP(0.1%)
  • Parametric Portfolio Associates LLC(0.1%)

Address

  • Website: http://www.meralco.com.ph
  • Address: Lopez Building, Ortigas Avenue, Pasig, 0300, Philippines
  • Phone: +63.2.631.2222

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