AEV signs underwriting agreement for issuance of preferred sharesAugust 25, 2005
Aboitiz Equity Ventures, Inc. (AEV) signed last November 17 an underwriting agreement with First Metro Investment Corporation (FMIC) as issue manager, and BPI Capital Corporation (BPI Capital), PCI Capital Corporation (PCI Capital), Union Bank of the Philippines (UBP), United Coconut Planters Bank (UBP), Multinational Investment Bancorporation (MIB) and RCBC Capital Corporation (RCBC Capital) as underwriters, for the issuance of 150,000,000 non-voting, nonparticipating, non-convertible, cumulative, reissuable and redeemable preferred shares at the offer price of P10.00 per share.
AEV income up 40% to P1.72 billionJuly 28, 2005
Aboitiz Equity Ventures Inc. (AEV) ended the first six months of this year with P1.72 billion in net income to common shareholders, a 40% increase over the first semester of 2004. This is equivalent to P0.36 in earnings per share (EPS). Earnings before interest, taxes, depreciation and amortization (EBITDA) improved by 20%, to P3.38 billion.
AEV consolidates hydro businessesJune 27, 2005
Aboitiz Equity Ventures, Inc. (AEV) has consolidated its hydropower generating subsidiaries into a single operating corporation to streamline operations and optimize use of resources. Benguet Hydropower Corporation (BHC), Hydro-Electric Development Corporation (Hedcor) and Northern Mini Hydro Corporation (NMHC) have signed an agreement to merge under Hedcor, Inc. This move positions AEV for growth in an increasingly competitive energy environment.
AEV earns P626 million in 1st quarter, up 42%May 13, 2005Aboitiz Equity Ventures, Inc. (AEV) posted a net income to common shareholders of P626 million in the 1st quarter of 2005, 42% up over the same period last year. This translates to earnings per share (EPS) of P0.13.
Aboitiz Equity Ventures, Inc. (AEV) posted a net income to common shareholders of P626 million in the 1st quarter of 2005, 42% up over the same period last year. This translates to earnings per share (EPS) of P0.13.Earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter amounted to P1.4 billion, 19% higher than in the same quarter of 2004.AEV’s power group posted the largest contribution to 2005’s 1st quarter income, with a combined contribution of P569 million, up 160%.
AEVís 2004 audited income jumps 18% to P2.33 billionMarch 9, 2005
Aboitiz Equity Ventures, Inc. (AEV) posted a P2.33 billion net income in 2004, up 18% from its 2003 restated earnings of P1.97 billion. This represents earnings per share (EPS) of P0.48. The company’s 2003 earnings were restated to consider the retroactive effect of adopting new accounting standards on leases and income taxes.
Aboitiz, Veco and Cebu City govít team up to donate school buildingMarch 1, 2005The Aboitiz Group Foundation, Inc., (AGFI), Aboitiz Equity Ventures (AEV), the Visayan Electric Company (VECO), and the Cebu City local government have joined forces to construct a three-story, three-classroom building for the Banilad Elementary School. This donation is in line with the Aboitiz Group’s commitment to assist the government in improving the quality of education in our public school system. As the social development arm of the Aboitiz Group, AGFI allocates more than half of its annual budget to education projects. These include infrastructure building, equipment donations, scholarship grants and skills training.
AEV, UBP rank among Asiaís best companies in 2002 Euromoney, Asiamoney pollsFebruary 25, 2005
Aboitiz Equity Ventures, Inc. (AEV) and its banking subsidiary UnionBank of the Philippines (UBP) have been voted as among the best companies in Asia in the latest polls of leading finance journals Euromoney and Asiamoney.
AEV sets secondary public offering; declares P0.12 cash dividendFebruary 17, 2005
The AEV Board of Directors has approved a secondary public offering of approximately 890 million common shares, which after the offer, will represent 15.6% of AEV’s outstanding stock. The offering, to be made within the year, will involve shares held in treasury as well as those held by AEV subsidiaries.
AEV and Norwegian company bid for hydro projectsJanuary 18, 2005
Aboitiz Equity Ventures, Inc. (AEV) and Norwegian company SN Power Invest AS (SN Power) have agreed to jointly bid for and develop hydroelectric power projects in the Philippines. The partnership will leverage on the local hydro experience of AEV and the international operating experience of SN Power. It will also allow the companies to share resources and bid for more than one of the assets being privatized by the Power Sector Assets and Liabilities Management Corporation (PSALM).
AEV earns P1.23 billion in the first half, up 4%December 12, 2004
Aboitiz Equity Ventures (AEV) earned a P1.23 billion net income after preferred dividends in the first six months of 2004, an increase of 4% over the same period last year.
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 1.7% to P2.8 billion in the first half of this year. Earnings per share was up by 4% to P0.25.