2007 ANNUAL REPORT Power Corporation - Aboitiz Equity Ventures

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AP declared a cash dividend of 0.18 per share to shareholders on record as of February 21, 2008, paying out 1.3 billion on March 3, 2008. Your company is fortunate to be in a position, with both the human and financial capital required, to take advantage of all these opportunities. We will choose our opportunities carefully so as not to dilute our efforts and resources, focusing on projects wherein we believe we have the competitive edge and those that possess long-term strategic value. CORPORATE SOCIAL RESPONSIBILITY We in Aboitiz Power believe that our mission does not end with fulfilling the need of building power plants, operating utilities and selling electricity. We are committed to work with all our stakeholders to create a sustainable balance among our communities, our environment, our team members and the company. Our business units contribute a portion of their income to support infrastructure improvement as well as social development and environmental projects in our host communities. In partnership with the Department of Energy and our Local Governments, we also help bring electricity to barangays and homes that still do not have access to electric power. In partnership with the Aboitiz Group Foundation, Inc. (AGFI) AP and its subsidiaries are also involved in numerous education-related interventions, primary health and child care projects and enterprise development. CONCLUDING REMARKS While we look back to a fabulous year for AP, we can look forward with confidence to an even stronger performance in the future. We have never been as optimistic as we are today about the Philippine power industry in general and AP in particular. Although AP’s stock price ended 2007 below its listing price despite our good results, our hope is that as the investment environment normalizes, investors will discover the value proposition we see in AP and its future. To all our hardworking and dedicated team members across the Aboitiz Power group, thank you for your efforts and contributions for the exceptional performance in 2007. We, however, would like to remind you that our job is far from over. Let us remain focused on serving our customers and adding value wherever possible. To our business partners and suppliers, we thank you for your invaluable support and cooperation. Together, let us continue to drive innovation to power new frontiers in the Philippine electricity industry. And of course, to our valued shareholders and customers, we extend our sincerest gratitude for your continued trust and confidence. CASH DIVIDENDS Following its dividend policy of paying out one-third of its preceding year’s net income, AP declared a cash dividend of 0.18 per share to shareholders on record as of February 21, 2008, paying out 1.3 billion on March 3, 2008. Jon Ramon Aboitiz CHAIRMAN Erramon I. Aboitiz PRESIDENT & CHIEF EXECUTIVE OFFICER • ABOITIZ POWER CORPORATION ANNUAL REPORT 2007
Results of Operations POWER D I S T R I B U T I O N ABOITIZ POWER CORPORATION ANNUAL REPORT 2007 •
Page 1 and 2: Power Corporation Powering New Fron
Page 3 and 4: P o w e r i n g New Frontiers ABOIT
Page 5 and 6: FINANCIAL SUMMARY For the Year (In
Page 7 and 8: R E P O R T T O O U R S T O C K H O
Page 9: h Powering New Frontiers With deman
Page 13 and 14: R E S U L T S O F O P E R A T I O N
Page 15 and 16: A SFELAPCO crew does live line work
Page 17 and 18: Results of Operations POWER G E N E
Page 19 and 20: POWER G E N E R A T I O N Hedcor si
Page 21 and 22: STEAG State Power Inc. (SPI) contri
Page 23 and 24: We expect our distribution companie
Page 25 and 26: The strong and stable financial per
Page 27 and 28: DIRECTORS SPECIAL AND REGULAR BOARD
Page 29 and 30: Director and Senior Executive Compe
Page 31 and 32: The Office of the Chief Compliance
Page 33 and 34: Employee Relations In AP, people ar
Page 35 and 36: P o w e r i n g New Frontiers F E A
Page 37 and 38: The rest of its capacity is traded
Page 39 and 40: The annual energy requirement will
Page 41 and 42: Gone are the long queues at VECO’
Page 43 and 44: The three utilities aim to provide
Page 45 and 46: CPPC, meanwhile, is situated on a 1
Page 47 and 48: and reliable supply of electricity.
Page 49 and 50: The fulfillment of sharing the frui
Page 51 and 52: Board of Directors Jon Ramon M. Abo
Page 53: Corporate Officers Benjamin A. Cari

2007 ANNUAL REPORT Power Corporation - Aboitiz Equity Ventures

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