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Finance

Metro Pacific Investments Corp.

  • 4.87 PHP
  • -0.05
  • -1.02%
  • Philippines
    Mar 22, 2019
  • Ticker
    PHS(MPI)
  • Prev. close
    4.92
  • Market cap (PHP)
    155,053M
  • Market cap (USD)
    2,962.53M
  • Shares
    31,514.80M

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, Toll Operations, Power, Healthcare, Rail, Logistics, and Others. The Water 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 segment involves in the distribution, generation and supply of electricity. The Healthcare segment is into the operation and administration of hospitals, medical and chemical clinics, laboratories, and nursing and medical colleges. The Rail segment engages in maintenance and construction of rail transit. 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 2018 PHPUSD
Revenue83,029M1,576.01M
Gross Profit40,315M765.23M
Operating income25,343M481.04M
Income before tax29,185M553.97M
Net income14,130M268.20M
EBITDA----
Diluted EPS0.440.00
Dividends Per Share0.110.00
Total Assets557,946M10,610.36M
Total liabilities318,943M6,065.28M
Total equity173,311M3,295.82M
Operating cash flow----
Currency in PHPCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 33,832M 37,239M 44,820M 62,512M 83,029M
Gross Profit 20,013M 22,495M 25,622M 32,128M 40,315M
Operating income 6,495M 14,905M 17,224.40M 21,012M 25,343M
Income before tax 10,615M 11,885M 14,129M 24,676M 29,185M
Net income 7,940M 9,546M 11,456M 13,151M 14,130M
EBITDA 10,502M 19,298M 22,237.40M 28,300M --
Diluted EPS 0.30 0.34 0.38 0.41 0.44
Dividends Per Share 0.06 0.09 0.10 0.11 0.11
Total Assets 234,012M 302,180M 351,602M 503,751M 557,946M
Total liabilities 104,440M 151,403M 163,521M 288,072M 318,943M
Total equity 103,695M 119,822M 152,032M 161,244M 173,311M
Operating cash flow 12,974M 17,601M 20,596M 30,327M --
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 762.17M 817.84M 943.82M 1,239.95M 1,576.01M
Gross Profit 450.85M 494.03M 539.55M 637.27M 765.23M
Operating income 146.32M 327.34M 362.71M 416.78M 481.04M
Income before tax 239.13M 261.01M 297.53M 489.46M 553.97M
Net income 178.87M 209.65M 241.24M 260.85M 268.20M
EBITDA 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 5,231.36M 6,421.84M 7,072.70M 10,091.16M 10,610.36M
Total liabilities 2,334.76M 3,217.57M 3,289.33M 5,770.67M 6,065.28M
Total equity 2,318.11M 2,546.42M 3,058.22M 3,230.04M 3,295.82M
Operating cash flow 292.28M 386.55M 433.71M 601.55M --

Valuation Measures

Dec 2018
PER10.35
ROA2.66%
ROE8.44%
Operating margin30.52%
Profit margin17.01%

Key executives

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

Shareholders

  • First Pacific Co. Ltd. (41.9%)
  • GT Capital Holdings, Inc. (15.5%)
  • Norges Bank Investment Management (1.8%)
  • The Vanguard Group, Inc. (1.5%)
  • BlackRock Fund Advisors (1.0%)
  • Pictet Asset Management SA (0.9%)
  • Fidelity Management & Research Co. (0.5%)
  • BAMCO, Inc. (0.4%)
  • BlackRock Japan Co., Ltd. (0.4%)
  • Dimensional Fund Advisors LP (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

  • 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.
  • SM Investments Corporation
Last Updated on 22 Mar, 2019

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