2007 ANNUAL REPORT Power Corporation - Aboitiz Equity Ventures
2007 ANNUAL REPORT Power Corporation - Aboitiz Equity Ventures 2007 ANNUAL REPORT Power Corporation - Aboitiz Equity Ventures
Contents Power Corporation Aboitiz Power Corporation (AP), a majority-owned subsidiary of Aboitiz Equity Ventures, is one of the leaders in the country’s renewable energy industry and the largest conventional hydropower operator in the country. It has a reputation of operating the most efficient electricity distribution utilities in the Philippines. The company provides its customers with quality service and reasonably-priced electricity. Since its incorporation in 1998, AP has accumulated interests in both hydroelectric power generation facilities and thermal plants, and expanded its distribution business. It is committed to expand its renewable energy capacity, driving innovation to power the Philippines. Financial Highlights 2 Report to Stockholders From your Chairman and President & CEO 4 EVP and SVP - Power Distribution Group 10 SVP - Power Generation Group 16 EVP - Strategy and Regulatory Affairs 20 Chief Financial Officer 22 Chief Compliance Officer 24 Features: Powering New Frontiers SN ABOITIZ POWER, INC. 34 Powering hydro capacity Magat Project Finance: Deal of the Year Equity Ventures Aboitiz Equity Ventures, Inc. (AEV) is a diversified conglomerate listed at the Philippine Stock Exchange that has interests in power generation and distribution, banking, transport and food manufacturing. Its mission is to create long-term value for all its stakeholders. The company has been recognized in international surveys as among the Philippines’ best managed companies. In 2007, it placed 9th overall as the Best Managed Company in Finance Asia’s Annual Best Companies in Asia poll. In the same poll, AEV ranked 8th as the Most Committed to Corporate Governance, and 7th in Best Investor Relations. Group Foundation Aboitiz Group Foundation, Inc. (AGFI) is a non-stock and non-profit corporate foundation registered with the Securities and Exchange Commission in 1989. It is the concrete manifestation of the Aboitiz Group’s strong commitment to corporate social responsibility. Guided by its mission, “helping people help themselves”, AGFI addresses the social and economic development needs of less privileged communities in areas where Aboitiz companies operate. The Foundation has helped improve the quality of life of its chosen beneficiaries under its major program components, namely education, enterprise development, primary health and childcare. HEDCOR, INC. 36 Powering growing markets with Cleanergy IN PREPARATION FOR OPEN ACCESS 38 Powering customer service ABOITIZ POWER ENERZONES 40 Powering industrial estates EAST ASIA UTILITIES CORPORATION 42 CEBU PRIVATE POWER CORPORATION Powering a tight market STEAG STATE POWER INC. 44 Powering Mindanao CORPORATE SOCIAL RESPONSIBILITY 46 Empowering communities LOCATION OF OPERATIONS 48 CORPORATE STRUCTURE BOARD OF DIRECTORS 49 CORPORATE OFFICERS 50 FINANCIAL STATEMENTS 52
P o w e r i n g New Frontiers ABOITIZ POWER CORPORATION ANNUAL REPORT 2007 •
- Page 1: Power Corporation Powering New Fron
- 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 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
P o w e r i n g<br />
New Frontiers<br />
ABOITIZ POWER CORPORATION <strong>ANNUAL</strong> <strong>REPORT</strong> <strong>2007</strong> •
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