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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 2019 PHPUSD
Revenue125,635.15M2,426.30M
Gross Profit36,800.61M710.70M
Operating income28,645.24M553.20M
Income before tax19,583.31M378.19M
Net income17,322.67M334.54M
EBITDA38,751.56M748.38M
Diluted EPS2.350.04
Dividends Per Share1.180.02
Total Assets410,469.35M8,104.83M
Total liabilities276,826.34M5,466.01M
Total equity125,542.99M2,478.88M
Operating cash flow37,289.92M720.15M
Currency in PHPCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 85,173.95M 89,163.26M 119,391.30M 131,572.08M 125,635.15M
Gross Profit 34,323.18M 36,796.05M 47,764.09M 51,050.62M 36,800.61M
Operating income 24,584.05M 26,212.87M 34,092.64M 36,336.92M 28,645.24M
Income before tax 18,562.37M 25,000.24M 26,846.82M 28,359.12M 19,583.31M
Net income 17,603.79M 20,002.58M 20,416.44M 21,707.60M 17,322.67M
EBITDA 29,569.33M 32,353.82M 41,769.99M 45,178.08M 38,751.56M
Diluted EPS 2.39 2.72 2.77 2.95 2.35
Dividends Per Share 1.20 1.36 1.39 1.47 1.18
Total Assets 242,489.24M 357,006.89M 361,476.99M 389,662.17M 410,469.35M
Total liabilities 140,875.67M 244,797.67M 237,498.53M 253,085.50M 276,826.34M
Total equity 97,568.52M 105,114.41M 115,396.37M 127,712.91M 125,542.99M
Operating cash flow 27,920.43M 35,762.18M 29,449.27M 34,160.70M 37,289.92M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 1,870.59M 1,877.61M 2,368.18M 2,497.43M 2,426.30M
Gross Profit 753.80M 774.85M 947.42M 969.01M 710.70M
Operating income 539.91M 551.99M 676.24M 689.73M 553.20M
Income before tax 407.66M 526.45M 532.52M 538.29M 378.19M
Net income 386.61M 421.21M 404.97M 412.04M 334.54M
EBITDA 649.40M 681.31M 828.52M 857.54M 748.38M
Diluted EPS 0.05 0.05 0.05 0.05 0.04
Dividends Per Share 0.02 0.02 0.02 0.02 0.02
Total Assets 5,153.31M 7,181.43M 7,241.12M 7,410.13M 8,104.83M
Total liabilities 2,993.85M 4,924.26M 4,757.58M 4,812.88M 5,466.01M
Total equity 2,073.49M 2,114.44M 2,311.62M 2,428.69M 2,478.88M
Operating cash flow 613.19M 753.08M 584.14M 648.42M 720.15M

Valuation Measures

Dec 2019
PER14.52
ROA4.32%
ROE13.67%
Operating margin22.80%
Profit margin13.78%

Key executives

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

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 (0.5%)
  • ABOITIZ MIKEL A (0.3%)
  • ABOITIZ LUIS MIGUEL O (0.2%)
  • Hawk View Capital, Inc. (0.1%)
  • Portola Investors, Inc. (0.1%)
  • ABOITIZ JAIME JOSE Y (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

  • First Gen Corporation
  • Ormat Technologies, Inc.
  • PT Barito Pacific Tbk
  • Basic Energy Corporation
Last Updated on 3 Jul, 2020

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