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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 Others. The Power segment involves the distribution, generation and supply of electricity. The Toll Operations segment covers the maintenance and operations of toll facilities. The Water segment represents the provision of water and sewerage services. The Rail segment consists of the maintenance and construction of rail transit. The Others segment comprises of the 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 2021 PHPUSD
Revenue43,561M883.68M
Gross Profit23,797M482.75M
Operating income13,877M281.51M
Income before tax-3,116M-63.21M
Net income5,029M102.01M
EBITDA21,148M429.01M
Diluted EPS0.180.00
Dividends Per Share0.100.00
Total Assets584,334M11,459.21M
Total liabilities347,469M6,814.11M
Total equity193,304M3,790.83M
Operating cash flow17,971M364.56M
Currency in PHPCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 62,512M 70,079M 49,276M 40,855M 43,561M
Gross Profit 32,128M 34,106M 29,014M 22,362M 23,797M
Operating income 21,012M 23,492M 18,338M 13,264M 13,877M
Income before tax 24,676M 16,044M -11,301M 3,208M -3,116M
Net income 13,151M 13,221M -4,782M 3,191M 5,029M
EBITDA 28,300M 32,533M 25,572M 20,012M 21,148M
Diluted EPS 0.41 0.44 -0.06 0.15 0.18
Dividends Per Share 0.11 0.11 0.11 0.08 0.10
Total Assets 503,751M 557,946M 611,778M 617,796M 584,334M
Total liabilities 288,072M 318,943M 365,733M 373,449M 347,469M
Total equity 161,244M 173,311M 190,962M 184,860M 193,304M
Operating cash flow 30,327M 32,347M 40,201M 20,474M 17,971M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 1,239.95M 1,330.20M 951.63M 823.68M 883.68M
Gross Profit 637.27M 647.38M 560.32M 450.84M 482.75M
Operating income 416.78M 445.91M 354.14M 267.41M 281.51M
Income before tax 489.46M 304.53M -218.24M 64.67M -63.21M
Net income 260.85M 250.95M -92.35M 64.33M 102.01M
EBITDA 561.34M 617.52M 493.85M 403.46M 429.01M
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 10,091.16M 10,610.36M 12,079.73M 12,864.45M 11,459.21M
Total liabilities 5,770.67M 6,065.28M 7,221.50M 7,776.38M 6,814.11M
Total equity 3,230.04M 3,295.82M 3,770.59M 3,849.36M 3,790.83M
Operating cash flow 601.55M 613.99M 776.37M 412.77M 364.56M

Valuation Measures

Dec 2021
PER21.45
ROA0.83%
ROE2.65%
Operating margin31.85%
Profit margin11.54%

Key executives

  • Chairman, President & Chief Executive Officer: Manuel Velez Pangilinan
  • CFO, Director & Chief Sustainability Officer: June Cheryl A. Cabal-Revilla
  • Secretary & VP-Legal & Compliance Officer: Ricardo M. Pilares
  • Treasury & Vice President: Nancy Kathleen S. Roxas
  • Vice President-Strategic Finance Subs & Affiliates: Maida B. Bruce

Shareholders

  • First Pacific Co. Ltd. (45.1%)
  • GT Capital Holdings, Inc. (16.7%)
  • Government Service Insurance System (2.9%)
  • Social Security System (1.7%)
  • The Vanguard Group, Inc. (1.4%)
  • Prusik Investment Management LLP (0.8%)
  • BlackRock Fund Advisors (0.8%)
  • Norges Bank Investment Management (0.5%)
  • BlackRock Advisors (UK) Ltd. (0.3%)
  • Dimensional Fund Advisors LP (0.2%)

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

  • Metro Pacific Tollways Vizmin Corp.
  • Metro Pacific Tollways Data Services, Inc.
  • Metro Pacific Health Tech Corp.
  • MPIC Infrastructure Holdings Ltd.
  • Metro Global Green Waste, Inc.
  • Fragrant Cedar Holdings, Inc.
  • Metro Pacific Resource Recovery Corp.
  • Metro Vantage Properties, Inc.
  • AIF Toll Roads Holdings (Thailand) Ltd
  • Surallah Biogas Ventures Corp.
  • MetPower Ventures Partners Holdings, Inc.
  • Maynilad Water Holding Co., Inc.
  • Metro Pacific Light Rail Corp.
  • Marikina Valley Medical Center
  • MetroPac Logistics Co., Inc.
  • Neo Oracle Holdings, Inc.
  • Metropac Water Investments Corp.
  • Metro Pacific Tollways Development Corp.
  • MPT Asia Corp.
  • Dr. Fe Del Mundo Medical Center Foundation Philippines, Inc.
  • Central Luzon Doctors' Hospital, Inc.
  • Bumrungrad International Philippines, Inc.
  • Riverside Medical Center, Inc. (Philippines)
  • Beacon Electric Asset Holdings, Inc.
  • Colinas Verdes Hospital Managers Corp.
  • Metro Pacific Tollways Corporation
  • De Los Santos Medical Center
  • Asian Hospital, Inc.
  • Landco Pacific Corp.
  • PT Nusantara Infrastructure Tbk

Competitors

  • Ayala Corp.
  • San Miguel Corp.
  • Aboitiz Equity Ventures Inc.
  • SM Investments Corporation
Last Updated on 4 Oct, 2022

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