2007 ANNUAL REPORT Power Corporation - Aboitiz Equity Ventures
2007 ANNUAL REPORT Power Corporation - Aboitiz Equity Ventures 2007 ANNUAL REPORT Power Corporation - Aboitiz Equity Ventures
FINANCIAL HIGHLIGHTS (In Million Pesos) Revenues Earnings per share (in pesos) Total Assets 07 11,312 07 0.66 07 36,163 06 8,681 06 0.37 06 12,345 EBITDA Cash and Cash Equivalents Stockholders’ Equity 07 06 2,883 5,531 07 06 1,494 13,288 07 06 8,672 27,023 Net Income to Common 07 06 1,850 4,138 Investments in and Advances to Associates 07 14,888 06 4,270 7.00 AP Stock Price vs. PSE Index From July 16, 2007 to March 17, 2008 AP Stock Price High Low July 2007 to March 2008 5.80 3.90 Outstanding as of March 31, 2008 7,358,604,307 6.00 5.00 4.00 3.00 2.00 7/16/2007 8/15/2007 9/14/2007 10/16/2007 11/16/2007 12/17/2007 01/18/2008 02/15/2008 03/17/2008 Aboitiz Power PSE • ABOITIZ POWER CORPORATION ANNUAL REPORT 2007
FINANCIAL SUMMARY For the Year (In Million Pesos) 2006 * 2007 % change ‘07 vs ‘06 Revenues 8,681 11,312 30% Operating profit Operating proift from ordinary activities 1,252 1,952 56% Equity in net earnings of associates 1,062 2,790 163% Interest expense - net (147) 152 -203% Other income 108 (11) -110% Income before income tax 2,275 4,882 115% Provision for income tax 405 634 57% Income before minority interest 1,870 4,248 127% Minority interest 21 109 429% Net income to common 1,850 4,138 124% Percentage Contribution Per Business Segment for 2007 DISTRIBUTION 37% 1,512 Others 1% 29 Generation 62% 2,597 (Figures In Million Pesos) At year end Total Assets 12,345 36,163 193% Total Liabilities 3,582 8,521 138% Minority Interest 91 619 583% Equity Attributable to Equity Holders of the Parent 8,672 27,023 212% Market Capitalization -- 38,095 n.a. Income Breakdown Per Business Segment (In Million Pesos) 2,597 213% 1,512 52% EBITDA 2,883 5,531 92% Per Share (in pesos) Earnings 0.37 0.66 78% Book Value 1.75 3.76 115% Cash Dividends (Common) -- 0.18 n.a. 829 995 Financial Ratios Current Ratio 3.27 2.54 Debt-to-Equity Ratio 0.41 0.31 Net Debt-to-Equity Ratio (0.24) (0.29) * Pro-forma 06 07 06 07 Generation Distribution ABOITIZ POWER CORPORATION ANNUAL REPORT 2007 •
- Page 1 and 2: Power Corporation Powering New Fron
- Page 3: P o w e r i n g New Frontiers ABOIT
- 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
- Page 53: Corporate Officers Benjamin A. Cari
FINANCIAL SUMMARY<br />
For the Year (In Million Pesos)<br />
2006 * <strong>2007</strong><br />
% change<br />
‘07 vs ‘06<br />
Revenues 8,681 11,312 30%<br />
Operating profit<br />
Operating proift from ordinary activities 1,252 1,952 56%<br />
<strong>Equity</strong> in net earnings of associates 1,062 2,790 163%<br />
Interest expense - net (147) 152 -203%<br />
Other income 108 (11) -110%<br />
Income before income tax 2,275 4,882 115%<br />
Provision for income tax 405 634 57%<br />
Income before minority interest 1,870 4,248 127%<br />
Minority interest 21 109 429%<br />
Net income to common 1,850 4,138 124%<br />
Percentage Contribution<br />
Per Business Segment for <strong>2007</strong><br />
DISTRIBUTION<br />
37%<br />
1,512<br />
Others<br />
1%<br />
29<br />
Generation<br />
62%<br />
2,597<br />
(Figures In Million Pesos)<br />
At year end<br />
Total Assets 12,345 36,163 193%<br />
Total Liabilities 3,582 8,521 138%<br />
Minority Interest 91 619 583%<br />
<strong>Equity</strong> Attributable to <strong>Equity</strong> Holders<br />
of the Parent<br />
8,672 27,023 212%<br />
Market Capitalization -- 38,095 n.a.<br />
Income Breakdown<br />
Per Business Segment<br />
(In Million Pesos)<br />
2,597<br />
213%<br />
1,512<br />
52%<br />
EBITDA 2,883 5,531 92%<br />
Per Share (in pesos)<br />
Earnings 0.37 0.66 78%<br />
Book Value 1.75 3.76 115%<br />
Cash Dividends (Common) -- 0.18 n.a.<br />
829<br />
995<br />
Financial Ratios<br />
Current Ratio 3.27 2.54<br />
Debt-to-<strong>Equity</strong> Ratio 0.41 0.31<br />
Net Debt-to-<strong>Equity</strong> Ratio (0.24) (0.29)<br />
* Pro-forma<br />
06 07 06 07<br />
Generation<br />
Distribution<br />
ABOITIZ POWER CORPORATION <strong>ANNUAL</strong> <strong>REPORT</strong> <strong>2007</strong> •
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