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Utilities

Metro Pacific Investments Corp.

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. is an investment holding company, which engages in real estate and infrastructure project investment. It operates through the following segments: Power, Toll Operations, Water, Rail, and Other Businesses. The Power segment involves in the distribution, generation and supply of electricity. The Toll Operations segment engages in the maintenance and operations of toll facilities. The Water segment engages in the provision of water and sewerage services. The Rail segment engages in maintenance and construction of rail transit. The Others Businesses 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 2020 PHPUSD
Revenue40,855M823.68M
Gross Profit22,362M450.84M
Operating income13,264M267.41M
Income before tax3,208M64.67M
Net income3,191M64.33M
EBITDA20,012M403.46M
Diluted EPS0.150.00
Dividends Per Share0.080.00
Total Assets617,796M12,864.45M
Total liabilities373,449M7,776.38M
Total equity184,860M3,849.36M
Operating cash flow20,474M412.77M
Currency in PHPCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 44,820M 62,512M 70,079M 49,276M 40,855M
Gross Profit 25,622M 32,128M 34,106M 29,014M 22,362M
Operating income 17,224.40M 21,012M 23,492M 18,338M 13,264M
Income before tax 14,129M 24,676M 16,044M -11,301M 3,208M
Net income 11,456M 13,151M 13,221M -4,782M 3,191M
EBITDA 22,237.40M 28,300M 32,533M 25,572M 20,012M
Diluted EPS 0.38 0.41 0.44 -0.06 0.15
Dividends Per Share 0.10 0.11 0.11 0.11 0.08
Total Assets 351,602M 503,751M 557,946M 611,778M 617,796M
Total liabilities 163,521M 288,072M 318,943M 365,733M 373,449M
Total equity 152,032M 161,244M 173,311M 190,962M 184,860M
Operating cash flow 20,596M 30,327M 32,347M 40,201M 20,474M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 943.82M 1,239.95M 1,330.20M 951.63M 823.68M
Gross Profit 539.55M 637.27M 647.38M 560.32M 450.84M
Operating income 362.71M 416.78M 445.91M 354.14M 267.41M
Income before tax 297.53M 489.46M 304.53M -218.24M 64.67M
Net income 241.24M 260.85M 250.95M -92.35M 64.33M
EBITDA 468.27M 561.34M 617.52M 493.85M 403.46M
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 7,072.70M 10,091.16M 10,610.36M 12,079.73M 12,864.45M
Total liabilities 3,289.33M 5,770.67M 6,065.28M 7,221.50M 7,776.38M
Total equity 3,058.22M 3,230.04M 3,295.82M 3,770.59M 3,849.36M
Operating cash flow 433.71M 601.55M 613.99M 776.37M 412.77M

Valuation Measures

Dec 2020
PER28.23
ROA0.51%
ROE1.69%
Operating margin32.46%
Profit margin7.81%

Key executives

  • President, Chief Executive Officer & Director: Jose Maria Kamantigue Lim
  • CFO, Director & Chief Sustainability Officer: June Cheryl A. Cabal-Revilla
  • Assistant VP-Information Technology: Edison R. Mateo
  • Vice President-Legal & Compliance Officer: Ricardo M. Pilares
  • Chief Investment Officer: Joseph J. Lacson

Shareholders

  • First Pacific Co. Ltd. (43.9%)
  • GT Capital Holdings, Inc. (16.2%)
  • Metro Pacific Investments Corp. (4.9%)
  • Government Service Insurance System (2.8%)
  • Social Security System (1.6%)
  • The Vanguard Group, Inc. (1.4%)
  • Norges Bank Investment Management (1.2%)
  • BlackRock Fund Advisors (0.8%)
  • Prusik Investment Management LLP (0.8%)
  • M&G Investment Management Ltd. (0.4%)

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

  • AIF Toll Roads Holdings (Thailand) Ltd
  • Pacific Plaza Towers Management Services, Inc.
  • Metro Pacific Light Rail Corp.
  • 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)
  • Beacon Electric Asset Holdings, Inc.
  • Colinas Verdes Hospital Managers Corp.
  • Metro Pacific Tollways Corporation
  • NLEX Corp.
  • De Los Santos Medical Center
  • Asian Hospital, Inc.
  • Maynilad Water Services, Inc.
  • PT Nusantara Infrastructure Tbk

Competitors

  • Ayala Corp.
  • San Miguel Corp.
  • Aboitiz Equity Ventures Inc.
  • SM Investments Corporation
Last Updated on 21 Oct, 2021

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