Conglomerate Aboitiz Equity Ventures Inc. (AEV) nearly doubled its first-quarter profit to P6.3 billion in 2026, from P3.2 billion a year ago, driven mainly by strong power and banking earnings.
Aboitiz Power accounted for the bulk of contributions, reinforcing its role as the group’s earnings engine. Banking kept the strong momentum going while food, beverage and infrastructure added support, lifting overall earnings despite continued weakness in real estate.
Group to purchase shares in parent, power and banking units
AEV is now backing that momentum with a high-conviction capital move.
After its meeting on April 28, the group said it is extending its plan to buy back its own shares and pick up more shares in Aboitiz Power and UnionBank, reviving a strategy used in past market downturns.
This comes as AEV shares are down about 16 percent over the past year, UnionBank has fallen 21 percent, while AboitizPower has gained 13.3 percent, highlighting valuation gaps across the group.
The conglomerate’s last disclosed buyback was in January 2025.
President and CEO Sabin M. Aboitiz will decide when and where to deploy the cash, the company said in a stock exchange filing.
Key figures
Back to operations, Aboitiz Power contributed P4.4 billion on stronger margins and new capacity.
Banking followed, as UnionBank’s net income jumped 167 percent to P3.8 billion, while food and beverage added P2.1 billion, up 43 percent on solid volumes and Coca-Cola operations.
Infrastructure turned profitable on higher airport traffic and tower expansion, offsetting a P48 million loss in real estate.
AEV ended the quarter with P102 billion in cash and stable balance sheet ratios, giving it room to fund growth while navigating market volatility.
—Edited by Miguel R. Camus
