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Utilities

Aboitiz Power Corp.

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. Is an investment holding company, which engages in the provision of 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 covers 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 City, Philippines.

Financial Highlights

Dec 2021 PHPUSD
Revenue134,359.22M2,725.63M
Gross Profit37,531.60M761.37M
Operating income27,990.83M567.82M
Income before tax15,176.22M307.86M
Net income20,837.18M422.70M
EBITDA39,412.06M799.52M
Diluted EPS2.830.05
Dividends Per Share1.450.02
Total Assets427,415.61M8,381.93M
Total liabilities271,834.91M5,330.88M
Total equity147,951.08M2,901.42M
Operating cash flow35,226.33M714.60M
Currency in PHPCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 119,391.30M 131,572.08M 125,635.15M 110,376.64M 134,359.22M
Gross Profit 47,764.09M 51,050.62M 36,800.61M 35,419.06M 37,531.60M
Operating income 34,092.64M 36,336.92M 28,645.24M 26,755.69M 27,990.83M
Income before tax 26,846.82M 28,359.12M 19,583.31M 18,207.99M 15,176.22M
Net income 20,416.44M 21,707.60M 17,322.67M 12,577.67M 20,837.18M
EBITDA 41,769.99M 45,178.08M 38,751.56M 37,853.25M 39,412.06M
Diluted EPS 2.77 2.95 2.35 1.70 2.83
Dividends Per Share 1.39 1.47 1.18 0.85 1.45
Total Assets 361,476.99M 389,662.17M 410,469.35M 397,925.11M 427,415.61M
Total liabilities 237,498.53M 253,085.50M 276,826.34M 263,340.04M 271,834.91M
Total equity 115,396.37M 127,712.91M 125,542.99M 127,158.57M 147,951.08M
Operating cash flow 29,449.27M 34,160.70M 37,289.92M 25,642.31M 35,226.33M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 2,368.18M 2,497.43M 2,426.30M 2,225.31M 2,725.63M
Gross Profit 947.42M 969.01M 710.70M 714.08M 761.37M
Operating income 676.24M 689.73M 553.20M 539.42M 567.82M
Income before tax 532.52M 538.29M 378.19M 367.09M 307.86M
Net income 404.97M 412.04M 334.54M 253.57M 422.70M
EBITDA 828.52M 857.54M 748.38M 763.16M 799.52M
Diluted EPS 0.05 0.05 0.04 0.03 0.05
Dividends Per Share 0.02 0.02 0.02 0.01 0.02
Total Assets 7,241.12M 7,410.13M 8,104.83M 8,286.05M 8,381.93M
Total liabilities 4,757.58M 4,812.88M 5,466.01M 5,483.56M 5,330.88M
Total equity 2,311.62M 2,428.69M 2,478.88M 2,647.84M 2,901.42M
Operating cash flow 584.14M 648.42M 720.15M 516.97M 714.60M

Valuation Measures

Dec 2021
PER10.48
ROA5.04%
ROE15.14%
Operating margin20.83%
Profit margin15.50%

Key executives

  • President, CEO & Executive Director: Emmanuel V. Rubio
  • Chief Financial & Information Officer, Senior VP: Liza Luv Montelibano
  • Secretary & Compliance Officer: Manuel Alberto R. Colayco
  • Group Treasurer & Senior Vice President: Maria Veronica C. So
  • Chief Investment Officer: Robert McGregor

Shareholders

  • Aboitiz Equity Ventures, Inc. (51.9%)
  • Jera Asia Pte Ltd. (27%)
  • Ramon Aboitiz Foundation, Inc. (5.8%)
  • ABOITIZ FAMILY (1.9%)
  • The Vanguard Group, Inc. (0.6%)
  • ABOITIZ LUIS MIGUEL O (0.4%)
  • ABOITIZ MIKEL A (0.3%)
  • ABOITIZ ERRAMON ISIDRO (0.2%)
  • Dominus Capital, Inc. (0.1%)
  • Fmk Capital Partners, Inc. (0.1%)

Contact Details

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Competitors

  • First Gen Corporation
  • Electricity Generating Public Co., Ltd.
  • Korea Electric Power Corporation
  • San Miguel Corp.
  • ACEN Corporation
  • AES Corporation
  • Manila Electric Co.
  • DMCI Holdings Inc.
  • Basic Energy Corporation
Last Updated on 4 Oct, 2022

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