Aboitiz Equity first half profit jumps 63% to P13.6B, cash hits P86.6B

​Sabin Aboitiz 

Aboitiz Equity Ventures Inc. president, CEO 

Insider Spotlight

• First-half net income climbs 63 percent to P13.6 billion.
• Power business remains the biggest earnings contributor with P10 billion.
• Cash reaches P86.6 billion, supporting continued investments across the portfolio.

Aboitiz Equity Ventures Inc., one of the country's largest conglomerates, posted a 63 percent increase in consolidated net income to P13.6 billion in the first half as stronger contributions from its power, banking and food businesses lifted earnings.

Second-quarter net income rose 40 percent to P7.3 billion, while core net income for the first half reached P13.7 billion, reflecting sustained operating performance across its strategic business units.

“Transformation is not defined by a single breakthrough, but by consistently making better decisions, executing with discipline, and staying focused on long-term goals.” said Sabin M. Aboitiz, president and CEO of the Aboitiz Group.

Power and banking fuel earnings

AboitizPower remained the group’s largest earnings contributor, delivering P10 billion in net income to AEV as new renewable energy assets, higher contracted capacity and the full first-half contribution from Chromite Gas Holdings Inc. boosted results. 

UnionBank contributed P3.4 billion after posting P6.9 billion in net income, supported by a growing customer base of 19.3 million, while the food and beverage business added P4 billion as demand improved across flour, animal feeds and beverage operations.

Expansion continues across businesses

The company continued expanding its renewable energy, airport, telecommunications, water, industrial estate and residential projects during the period while ending June with P1 trillion in assets, P86.6 billion in cash and cash equivalents, and a net debt-to-equity ratio of 0.9 times, providing flexibility to pursue further growth opportunities.

—Edited by Miguel R. Camus