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Utilities

Aboitiz Power

Company Background

Aboitiz Power is the electricity generation arm of the Aboitiz Group, a conglomerate founded by the Aboitiz family of the central Philippine island of Cebu. About two-thirds of the company is owned by Aboitiz Equity Ventures, the family's publicly listed holding company. Aboitiz Power is one of the country's leading utilities, with a capacity of 2,975 megawatts as of the end of September 2014. It has hydroelectric, geothermal and coal-fired power plants across the country.

 

The company is adding more capacity to its portfolio, building a number of hydropower plants that will provide an additional 82MW and three coal-fired plants that will have a total capacity of 1,020MW. At the end of 2013, about 83% of Aboitiz Power's net profit was derived from power generation while the rest was from electricity distribution. The company's chief executive is Erramon Aboitiz. He graduated with a bachelor's degree in business administration, majoring in accounting and finance, from Gonzaga University in the U.S. state of Washington.

Business Summary

Aboitiz Power Corp. operates as an investment holding company, which engaegs in the power generation and distribution. It operates through the following segments: Power Generation, Power Distribution, and Parent Company and Others. The Power Generation segment handles the generation and supply of power to customers under power supply contracts, ancillary service procurement agreements, and trading. The Power Distribution segment deals with the distribution and sale of electricity to the end-users. The Parent Company and Other segment involves in the operations of the company and electricity-related services of the group such as installation of electrical equipment. The company was founded on February 13, 1998 and is headquartered in Taguig, Philippines.

Financial Highlights

Dec 2018 PHPUSD
Revenue131,572.08M2,497.43M
Gross Profit51,050.62M969.01M
Operating income36,336.92M689.73M
Income before tax28,359.12M538.29M
Net income21,707.60M412.04M
EBITDA45,178.08M857.54M
Diluted EPS2.950.05
Dividends Per Share1.470.02
Total Assets389,662.17M7,410.13M
Total liabilities253,085.50M4,812.88M
Total equity127,712.91M2,428.69M
Operating cash flow34,160.70M648.42M
Currency in PHPCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 86,759.38M 85,173.95M 89,163.26M 119,391.30M 131,572.08M
Gross Profit 29,198.32M 34,323.18M 36,796.05M 47,764.09M 51,050.62M
Operating income 22,226.86M 24,584.05M 26,212.87M 34,092.64M 36,336.92M
Income before tax 17,420.50M 18,562.37M 25,000.24M 26,846.82M 28,359.12M
Net income 16,705.18M 17,603.79M 20,002.58M 20,416.44M 21,707.60M
EBITDA 26,994.05M 29,569.33M 32,353.82M 41,769.99M 45,178.08M
Diluted EPS 2.27 2.39 2.72 2.77 2.95
Dividends Per Share 1.14 1.20 1.36 1.39 1.47
Total Assets 216,761.02M 242,489.24M 357,006.89M 361,476.99M 389,662.17M
Total liabilities 120,680.58M 140,875.67M 244,797.67M 237,498.53M 253,085.50M
Total equity 91,962.09M 97,568.52M 105,114.41M 115,396.37M 127,712.91M
Operating cash flow 27,079.91M 27,920.43M 35,762.18M 29,449.27M 34,160.70M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 1,954.54M 1,870.59M 1,877.61M 2,368.18M 2,497.43M
Gross Profit 657.78M 753.80M 774.85M 947.42M 969.01M
Operating income 500.73M 539.91M 551.99M 676.24M 689.73M
Income before tax 392.45M 407.66M 526.45M 532.52M 538.29M
Net income 376.33M 386.61M 421.21M 404.97M 412.04M
EBITDA 608.13M 649.40M 681.31M 828.52M 857.54M
Diluted EPS 0.05 0.05 0.05 0.05 0.05
Dividends Per Share 0.02 0.02 0.02 0.02 0.02
Total Assets 4,845.71M 5,153.31M 7,181.43M 7,241.12M 7,410.13M
Total liabilities 2,697.82M 2,993.85M 4,924.26M 4,757.58M 4,812.88M
Total equity 2,055.82M 2,073.49M 2,114.44M 2,311.62M 2,428.69M
Operating cash flow 610.06M 613.19M 753.08M 584.14M 648.42M

Valuation Measures

Dec 2018
PER11.89
ROA5.77%
ROE17.85%
Operating margin27.61%
Profit margin16.49%

Key executives

  • Chief Executive & Operating Officer: Emmanuel V. Rubio
  • President & Director: Erramon Isidro Aboitiz
  • Chief Financial & Information Officer, Senior VP: Liza Luv Montelibano
  • First VP, General Counsel & Compliance Officer: Joseph Trillana T. Gonzales
  • Executive Vice President: Rodger C. Velasco

Shareholders

  • Aboitiz Equity Ventures, Inc. (76.9%)
  • ABOITIZ FAMILY (1.9%)
  • ABOITIZ ERRAMON ISIDRO (1.1%)
  • The Vanguard Group, Inc. (0.7%)
  • BlackRock Fund Advisors (0.6%)
  • ABOITIZ MIKEL A (0.3%)
  • MORAZA ANTONIO ROIG (0.2%)
  • Hawk View Capital, Inc. (0.1%)
  • Portola Investors, Inc. (0.1%)
  • BlackRock Advisors (UK) Ltd. (0.1%)

Contact Details

Related Companies

  • AboitizPower International Pte Ltd.
  • Hedcor Benguet, Inc.
  • Therma Power-Visayas, Inc.
  • Prism Energy, Inc.
  • Therma South, Inc.
  • Therma Mobile, Inc.
  • Therma Visayas, Inc.
  • AdventEnergy, Inc.
  • Therma Luzon, Inc.
  • Aboitiz Renewables, Inc.
  • Therma Power, Inc.
  • AP Renewables, Inc.
  • SN Aboitiz Power-Benguet, Inc.
  • Aboitiz Energy Solutions, Inc.
  • SN Aboitiz Power-Magat, Inc.
  • Lima Utilities Corp.
  • Hedcor, Inc.
  • Balamban Enerzone Corp.
  • Cebu Private Power Corp.
  • Davao Light & Power Co., Inc.

Competitors

  • PT Barito Pacific Tbk
  • Ormat Technologies, Inc.
  • Basic Energy Corporation
Last Updated on 6 Dec, 2019

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