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Finance

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. 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 2019 PHPUSD
Revenue73,499M1,419.43M
Gross Profit37,408M722.43M
Operating income24,509M473.32M
Income before tax-6,171M-119.17M
Net income-2,844M-54.92M
EBITDA35,104M677.94M
Diluted EPS-0.06-0.00
Dividends Per Share0.110.00
Total Assets611,778M12,079.73M
Total liabilities365,733M7,221.50M
Total equity190,962M3,770.59M
Operating cash flow40,201M776.37M
Currency in PHPCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 37,239M 44,820M 62,512M 70,079M 73,499M
Gross Profit 22,495M 25,622M 32,128M 34,106M 37,408M
Operating income 14,905M 17,224.40M 21,012M 23,492M 24,509M
Income before tax 11,885M 14,129M 24,676M 16,044M -6,171M
Net income 9,546M 11,456M 13,151M 13,221M -2,844M
EBITDA 19,298M 22,237.40M 28,300M 32,533M 35,104M
Diluted EPS 0.34 0.38 0.41 0.44 -0.06
Dividends Per Share 0.09 0.10 0.11 0.11 0.11
Total Assets 302,180M 351,602M 503,751M 557,946M 611,778M
Total liabilities 151,403M 163,521M 288,072M 318,943M 365,733M
Total equity 119,822M 152,032M 161,244M 173,311M 190,962M
Operating cash flow 17,601M 20,596M 30,327M 32,347M 40,201M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 817.84M 943.82M 1,239.95M 1,330.20M 1,419.43M
Gross Profit 494.03M 539.55M 637.27M 647.38M 722.43M
Operating income 327.34M 362.71M 416.78M 445.91M 473.32M
Income before tax 261.01M 297.53M 489.46M 304.53M -119.17M
Net income 209.65M 241.24M 260.85M 250.95M -54.92M
EBITDA 423.82M 468.27M 561.34M 617.52M 677.94M
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 6,421.84M 7,072.70M 10,091.16M 10,610.36M 12,079.73M
Total liabilities 3,217.57M 3,289.33M 5,770.67M 6,065.28M 7,221.50M
Total equity 2,546.42M 3,058.22M 3,230.04M 3,295.82M 3,770.59M
Operating cash flow 386.55M 433.71M 601.55M 613.99M 776.37M

Valuation Measures

Dec 2019
PER--
ROA-0.48%
ROE-1.56%
Operating margin33.34%
Profit margin-3.86%

Key executives

  • President, Chief Executive Officer & Director: Jose Maria Kamantigue Lim
  • Chief Financial Officer, Director & Executive VP: David John Nicol
  • 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. (42.1%)
  • GT Capital Holdings, Inc. (15.6%)
  • The Vanguard Group, Inc. (1.6%)
  • Norges Bank Investment Management (1.4%)
  • Prusik Investment Management LLP (0.9%)
  • BlackRock Fund Advisors (0.7%)
  • M&G Investment Management Ltd. (0.4%)
  • Dimensional Fund Advisors LP (0.3%)
  • BlackRock Advisors (UK) Ltd. (0.2%)
  • KBI Global Investors Ltd. (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

  • 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.
  • 2GO Group, Inc.
  • Li & Fung Limited
  • Deutsche Post AG
  • Aboitiz Equity Ventures Inc.
  • Manila Water Co. Inc.
  • SM Investments Corporation
Last Updated on 3 Jul, 2020

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