Aboitiz Equity Ventures 1Q income jumps 68% to P1.07 BMay 10, 2007
Aboitiz Equity Ventures (AEV) ended the first quarter of 2007 with a net income of P1.076 billion, a 68% jump from its earnings in the same period last year. This translates to an earnings per share (EPS) of P0.19. Earnings before interest, taxes, depreciation and amortization (EBITDA) for the period increased by 34% to P1.8 billion. The company had a sharp drop in interest expense due to lower borrowing costs.
Aboitiz Power acquires stake in two power plantsApril 20, 2007
Aboitiz Power Corporation (APC), a wholly owned subsidiary of Aboitiz Equity Ventures, Inc., acquired 50,000,000 common shares representing 50% of the outstanding capital stock of East Asia Utilities Corporation (EAUC) from El Paso Philippines Energy Company, Inc. (EPPECI) for approximately P131 million and an assumption of P878 million of intercompany debt owed to EAUC. APC also acquired 3,600,000 common shares of EAUC’s wholly owned subsidiary, Cebu Private Power Corporation (CPPC), representing approximately 48% of the total outstanding shares of CPPC for approximately P176 million. These assets were part of the Philippine electricity generation assets acquired by the Avenue Capital Group, the ultimate owner of EPPECI, from Globeleq Asia Holdings Limited after Globeleq bought out the generation assets of Texas-based El Paso Global Power in India, Indonesia and the Philippines.
Aboitiz Announces New Trunkline of its Makati OfficeMarch 26, 2007
Aboitiz announces the new trunkline of its Makati Office : 793-2800 effective March 27, 2007 at 8:30 A.M.
AEV 2006 income jumps 19% to P3.75 billionFebruary 28, 2007
Aboitiz Equity Ventures, Inc. (AEV) ended 2006 with a net income of P3.754 billion, a 19% increase from its 2005 net income. This translates to earnings per share (EPS) of P0.76. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 5% to P6.87 billion.
AEV raises P6.1 billion from treasury shares saleJanuary 29, 2007
Aboitiz Equity Ventures, Inc. (AEV) has successfully placed its entire treasury shareholdings representing 742,511,938 shares at a price of P8.20 per share. The transaction raised approximately P6.1 billion, equivalent to US$124 million. The price represents a 5.7 percent discount from the share price close of P8.70 on January 26, 2007.
AEV undertaking a marketed placement of its treasury salesJanuary 22, 2007
Aboitiz Equity Ventures, Inc. (AEV) is undertaking a marketed placement of up to 743 million of its treasury shares for domestic and international investors. Bookbuilding is expected to start on January 22, 2007 and is expected to run until January 26, 2007. Pricing of the shares is expected to be decided after the close of the bookbuilding on January 26, 2007. Allocations and pricing of the treasury shares is expected to be communicated to the market on January 29, 2007.
AEV announces IPO of power subsidiaryJanuary 12, 2007
The board of Aboitiz Equity Ventures, Inc (AEV), the publicly listed company of the Aboitiz Group, on January 11 approved the initial public offering (IPO) of its 100%-owned subsidiary, Aboitiz Power Corp (APC), subject to the approval of the Philippine Stock Exchange (PSE), Securities and Exchange Commission (SEC), the Bureau of Internal Revenue and all other required regulatory authorities.
Aboitiz JV awarded 360-MW Magat Hydro PlantJanuary 12, 2007
The Power Sector Assets and Liabilities Management Corporation (PSALM) recently issued the notice of award for the 360-megawatt (MW) Magat Hydroelectric Power Plant to SN Aboitiz Power, Inc., a joint venture between Aboitiz Power Corporation (Aboitiz Power) and SN Power of Norway (SN Power).
AEV earns P2.4 billion in Jan-Sept 2006November 7, 2006
Aboitiz Equity Ventures Inc. (AEV) ended the first nine months of this year with P2.4 billion in net income to common shareholders, a 6.3% decline from the restated net income in the first nine months of 2005. This is equivalent to P0.49 in earnings per share (EPS). In the third quarter (ending September 2006) alone, AEV posted a net income of P845 million, a 6.4% decrease from the same quarter last year.
AEV earns P1.56 billion in 1st half 2006August 1, 2006
Aboitiz Equity Ventures Inc. (AEV) ended the first six months of this year with P1.56 billion in net income to common shareholders, a 6% decline from the restated net income in the first semester of 2005. This is equivalent to P0.32 in earnings per share (EPS). Earnings before interest, taxes, depreciation and amortization (EBITDA) went down by 8% to P3.13 billion.