2007 ANNUAL REPORT Power Corporation - Aboitiz Equity Ventures

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POWER D I S T R I B U T I O N To improve system reliability, SFELAPCO constructed a new 10-MVA substation in Floridablanca to replace its existing 8 MVA substation at the Basa Airbase. We expect healthy organic growth from our existing business with potential incremental opportunities coming from the improvement of operational efficiency of our existing assets as well as acquisitions of other utilities. Mactan EnerZone Corporation and Balamban EnerZone Corporation (MEZ/BEZ) contributed 64 million to AP’s 2007 income. The two utilities served a total of 85 locators and reached a combined electricity sales of 116 GwH for seven months ended December 31, 2007. Peak demand for MEZ was 22 MW while that of BEZ was 14 MW. At year-end 2007, system losses stood at 3% and 0.6% for MEZ and BEZ, respectively. The future looks bright for your company. We expect healthy organic growth from our existing business with potential incremental opportunities coming from the improvement of operational efficiency of our existing assets as well as acquisitions of other utilities. Luis Alfonso Y. Aboitiz EXECUTIVE VICE PRESIDENT POWER DISTRIBUTION GROUP Jaime Jose Aboitiz SENIOR VICE PRESIDENT POWER DISTRIBUTION GROUP Balamban EnerZone provides power to the shipbuilding facilities of Tsuneishi Heavy Industries and FBMA Marine. 14 • ABOITIZ POWER CORPORATION ANNUAL REPORT 2007
Results of Operations POWER G E N E R A T I O N ABOITIZ POWER CORPORATION ANNUAL REPORT 2007 • 15
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 and 10: h Powering New Frontiers With deman
Page 11 and 12: Results of Operations POWER D I S T
Page 13 and 14: R E S U L T S O F O P E R A T I O N
Page 15: A SFELAPCO crew does live line work
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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