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Finance

Metro Pacific Investments Corp.

  • 4.70 PHP
  • +0.06
  • +1.29%
  • Philippines
    Apr 20, 2018
  • Ticker
    PHS(MPI)
  • Prev. close
    4.64
  • Market cap (PHP)
    146,218M
  • Market cap (USD)
    2,806.63M
  • Shares
    31,512.60M

Company Background

Metro Pacific Investments (MPIC) is a major infrastructure developer in the Philippines. Majority share holder is Hong Kong-listed First Pacific, which is controlled by Indonesia's Salim Group. Metro Pacific owns Manila Electric, Maynilad Water Services, Metro Pacific Tollways, and eight other hospitals. Manila Electric is the Philippines' largest power distributor, serving metropolitan Manila and nearby provinces.

Maynilad, meanwhile, distributes water to more than a million Philippine households mainly in the capital. Metro Pacific Tollways controls the 84km North Luzon Expressway and 45km Manila-Cavite Expressway. MPT has offered to take over the concession of 94km Subic-Clark-Tarlac Expressway. In October 2014, the Philippine government awarded a contract to MPIC-controlled Light Rail Manila Consortium to expand and run Manila's longest overhead railway. The company has also expanded abroad, taking a stake of nearly 33% in Bangkok-based Don Muang Tollway Public Co. and 70% of a Singapore-based liquefied natural gas company.

The chairman is Wharton-educated Manuel V. Pangilinan, who came from a middle-class family. Pangilinan began his career as a banker in 1970s Hong Kong. It was during this time he met Anthoni Salim in a client call, and from there, the two set up First Pacific, which has become an investment powerhouse.

Business Summary

Metro Pacific Investments Corp. engages in real estate and infrastructure project investment. It operates through the following segments: Water Utilities, Toll Operations, Power Distribution, Hospital Operations, Rail, Logistics, and Others. The Water Utilities segment engages in the provision of water and sewerage services. The Toll Operations segment engages in the maintenance and operations of toll facilities. The Power Distribution segment involves in the distribution and supply of electricity. The Hospital Operations segment is into the operation and administration of hospitals, medical and chemical clinics, laboratories, and nursing and medical schools. The Logistics segment involves services in areas of logistics, warehousing, toll manufacturing, transportation, and distribution. The Others segment represents operations of subsidiaries involved in the provision of services, including real estate investments and operations. The company was founded on March 20, 2006 and is headquartered in Makati, Philippines.

Financial Highlights

Dec 2017 PHPUSD
Revenue62,512M1,239.95M
Gross Profit32,128M637.27M
Operating income21,012M416.78M
Income before tax24,676M489.46M
Net income13,151M260.85M
EBITDA28,300M561.34M
Diluted EPS0.410.00
Dividends Per Share0.110.00
Total Assets503,751M10,091.16M
Total liabilities288,072M5,770.67M
Total equity161,244M3,230.04M
Operating cash flow30,327M601.55M
Currency in PHPCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 30,877M 33,832M 37,239M 44,820M 62,512M
Gross Profit 18,373M 20,013M 22,495M 25,622M 32,128M
Operating income 6,461.10M 6,495M 14,905M 17,224.40M 21,012M
Income before tax 9,786M 10,615M 11,885M 14,129M 24,676M
Net income 7,209M 7,940M 9,546M 11,456M 13,151M
EBITDA 10,226.10M 10,502M 19,298M 22,237.40M 28,300M
Diluted EPS 0.27 0.30 0.34 0.38 0.41
Dividends Per Share 0.03 0.06 0.09 0.10 0.11
Total Assets 200,584M 234,012M 302,180M 351,602M 503,751M
Total liabilities 87,304M 104,440M 151,403M 163,521M 288,072M
Total equity 94,461M 103,695M 119,822M 152,032M 161,244M
Operating cash flow 12,199M 12,974M 17,601M 20,596M 30,327M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 727.03M 762.17M 817.84M 943.82M 1,239.95M
Gross Profit 432.61M 450.85M 494.03M 539.55M 637.27M
Operating income 152.13M 146.32M 327.34M 362.71M 416.78M
Income before tax 230.42M 239.13M 261.01M 297.53M 489.46M
Net income 169.74M 178.87M 209.65M 241.24M 260.85M
EBITDA 240.78M 236.59M 423.82M 468.27M 561.34M
Diluted EPS 0.00 0.00 0.00 0.00 0.00
Dividends Per Share 0.00 0.00 0.00 0.00 0.00
Total Assets 4,519.43M 5,231.36M 6,421.84M 7,072.70M 10,091.16M
Total liabilities 1,967.08M 2,334.76M 3,217.57M 3,289.33M 5,770.67M
Total equity 2,128.33M 2,318.11M 2,546.42M 3,058.22M 3,230.04M
Operating cash flow 287.24M 292.28M 386.55M 433.71M 601.55M

Valuation Measures

Dec 2017
PER16.42
ROA3.07%
ROE8.39%
Operating margin33.61%
Profit margin21.03%

Key executives

  • President, Chief Executive Officer & Director: Jose Maria K. Lim
  • Chief Financial Officer & Director: David John Nicol
  • Vice President & Group Controller: Maida B. Bruce
  • Chief Investment Officer: Joseph Lacson
  • Chief Risk Officer & Assistant Vice President: Santhea V. Delos Santos

Shareholders

  • First Pacific Co. Ltd. (41.9%)
  • GT Capital Holdings, Inc. (15.5%)
  • Cartica Management LLC (5.0%)
  • Norges Bank Investment Management (1.8%)
  • The Vanguard Group, Inc. (1.5%)
  • Pictet Asset Management SA (1.0%)
  • BlackRock Fund Advisors (0.8%)
  • Macquarie Funds Management Hong Kong Ltd. (0.5%)
  • BAMCO, Inc. (0.4%)
  • APG Asset Management NV (0.3%)

Contact Details

  • Website:http://www.mpic.com.ph
  • Address: 10/F Makati General Office Building, Legaspi corner Dela Rosa Street, Makati City, 0721, Philippines
  • Phone: +63.2.888.0888

Related Companies

  • PremierLogistics, Inc.
  • Marikina Valley Medical Center
  • MetroPac Movers, Inc.
  • Neo Oracle Holdings, Inc.
  • Metropac Water Investments Corp.
  • Metro Pacific Tollways Development Corp.
  • FPM Infrastructure Holdings Ltd.
  • Dr. Fe Del Mundo Medical Center Foundation Philippines, Inc.
  • Central Luzon Doctors' Hospital, Inc.
  • Bumrungrad International Philippines, Inc.
  • Cavitex Infrastructure Corp
  • Metro Pacific Management Services, Inc.
  • Riverside Medical Center, Inc. (Philippines)
  • Colinas Verdes Hospital Managers Corp.
  • Metro Pacific Tollways Corporation
  • NLEX Corp.
  • De Los Santos Medical Center
  • Asian Hospital, Inc.
  • Maynilad Water Services, Inc.

Competitors

  • Ayala Corp.
  • San Miguel Corp.
  • SM Investments Corporation
Last Updated on 20 Apr, 2018

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