A Power Plant Christmas
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Dec. 2010 - Jan. 2011 Available online at www.Lopezlink.ph A Power Plant Christmas THE feeling envelops you as soon as you enter: the scent of pine gen- poinsettias are ranged along the corridors; here and there, Christmas tly caresses your nostrils and the slightly nippy temperature makes trees and snowmen nod a greeting. As carols tinkle softly in the you wrap your light jacket around yourself just a little tighter. background, you look up to see red and green orbs and pale gold As you venture inside, your eyes light up and your heart skips a Turn to page 8 Q3 financial results bit at the enchanting sight that greets you. Planters of lush fresh ABS-CBN profits hit P2.9B...p.2 ‘Undaunted: The Lopez Legacies’ launched...p.7 Looking back at Makati pipeline incident: A timeline 2010...p.5 THE following is a chronology July 12 • FPIC immediately mobilized the Emer- of events regarding the First • At 10 a.m., station police alerted FPIC of gency Response Team (ERT) including Philippine Industrial Corpora- seepage from West Tower equipment for excavation tion (FPIC) pipeline incident, as • FPIC immediately responded and checked • 10 p.m.: Excavation directly in front of West presented to the Senate Com- the Basement 2 of West Tower and saw the Tower was done by FPIC but tested negative mittees on Environment and seepage July 12-15 Health. At present, FPIC is on • FPIC immediately installed air eductors to • Pipeline was shut down voluntarily to do its environmental cleanup phase siphon out fumes the excavations and has engaged CH2M Hill, a • Emergency shutdown procedures for the • A total of 15 excavations were done. All US remediation company, to help pipeline was immediately activated and excavations were negative for petroleum leak them. completed at 4:45 p.m. Turn to page 2 2 3 Lopezlink Dec. 2010-Jan. 2011 Lopezlink Dec. 2010-Jan. 2011 January 2010-September 2010 financial results Net income/(loss) attributable to ABS-CBN’s 9-month profits TOTAL REVENUES equity holders of the parent Lopez Group chair PHL envoy to Japan % change 2009 2010 % change 2009 2010 LOPEZ Group chairman MML was chosen by reach P2.9B on record revenues Manuel M. Lopez (MML) was President Benigno Aquino +35 P1.349B P2.901B +115 ABS-CBN Corporation gener- nonrecurring political advertising tions of SKYCable and ABS- ABS-CBN P18.344B P24.742B appointed as Ambassador Ex- III to foster greater coop- +19 ated net income of P2.9 billion revenues, the contribution share CBN Global. Lopez Holdings P18.343B P24.742B +35 P10.916B P13.035B traordinary and Plenipotentiary eration and friendship be- for the first nine months of of consumer sales would be 35%. Reported EBITDA (earnings EDC P15.987B P19.321B +21 P1.273B P7.126B +460 to Japan by President Aquino tween Japan and the Phil- 2010, as it sustained into the Consolidated advertising before interest, taxes, depreciation First Gen $771.9M $980.1M +27 $7.0M $66.5M +849 on October 31, 2010. The ap- ippines, as well as increase third quarter the strong growth revenues across all platforms and amortization) hit a record FPHC P43.464B P50.924B +17 P7.848B P21.456B +224 pointment was among those opportunities for business, momentum in regular advertis- and subsidiaries reached P16.9B, high of P6.9B, 33% or P1.7B confirmed by the bicameral educational and cultural ex- ing revenues in the first semester. P6.2B or 58% higher than the higher than reported EBITDA First Gen attributable net income up 849% Commission on Appointments change. This profit level is more than P10.7B for the same period in in the first nine months of 2009. in a plenary session on Novem- “I thank President Aqui- FIRST Gen Corporation re- Equity in net earnings from 2009. This was, however, offset (L-R) Fr. Jose Cecilio Magadia, SJ, provincial superior of the Philippine double the net income of P1.3B 2009. Advertising revenues from With strong advertising ber 17. no for his trust. I am hon- ported sharply higher attributable associates jumped significantly by higher administrative ex- Province of the Society of Jesus; Fr. Bienvenido Nebres, SJ, Ateneo presi- in the first nine months of 2009. regular advertisers grew by P3.9B revenue inflows and continuing ored to serve under his ad- net income to parent of $66.5M by 599% to $58.8M for the pe- penses due to various develop- dent; Dr. Lopez; Edward Go, chairman of the Ateneo board of trustees; Consolidated revenues for or 37% to P14.6B. Nonrecurring financial discipline, the com- ministration, guided by the in the first three quarters, up by riod ended September 30, 2010, ment and refinancing activities. Jose Santos, vice president for finance and treasurer. the first nine months reached a political advertising revenues car- pany generated net income of philosophy of prompt and 849% from $7.0M posted in in comparison to last year’s loss First Gen’s consolidated net record level of P24.7B, posting ried over from the first semester P2.9B for the first nine months Lopez honest service, ang daang the same period last year. The of $11.8M. income in the first three quarters a 35% growth from a year ago. amounted to P2.3B. of the year, 115% or nearly matuwid. This is congruent increased earnings were driven by The First Gen P5.0B bond increased by $31.6M or 43% to Ateneo confers MML (rightmost) in the Senate for the Commission on Appointments confirmation, Advertising revenues accounted Consumer sales reached P1.6B more than last year, and with the values of integrity the strong operating performance was fully paid on July 30, 2010. $104.9M compared to the net with (from left) son Beaver, Senator Juan Ponce Enrile, and wife Maritess for 68% of consolidated revenues, P7.8B, posting an increase of raising net profit margin by Holdings and nationalism held dear of the First Gas Group, First Gen In addition, the low-interest income of $73.3M in the first while consumer sales accounted P160 million or 2% from a year five percentage points to 12%. by generations of Lopezes who Hydro Power Corporation and rate environment helped boost three quarters of 2009. The honorary PhD ficiency and transformed the duty. for the remaining 32%. Net of ago, mainly from the contribu- (Charles Gamo) have served the country in their EDC. First Gen’s consolidated earnings by lowering its interest company’s net income attribut- trims 107-year-old company into Other members of the Lopez own times,” said MML. revenues likewise jumped by expenses by $4.2M, or 5% to able to the parent company of a professional, profitable and family served government driven on OML As president of Meralco competitive organization. He by a strong commitment to serve $208.2M, or 27% to $980.1M in $80.1M as of September 2010 $66.5M is net of minority inter- deficit to from 1986 to June 2001 and instilled a culture of malasakit the Filipino people. The most EDC net income rises 446% 2010 from last year’s $771.9M. from $84.3M as of September ests. (Estela de la Paz) LOPEZ Group chairman emeritus Oscar M. Lopez (OML) ENERGY Development Cor- down of approximately P3.0B in Inc. reported a net loss of received his second honorary doctor of humanities degree of chief executive officer until or uncommon concern among prominent of them was MML’s poration (EDC) posted a net deferred tax assets in 2009 further P270.1M in contrast to First Lopez Holdings attributable income 19% better the year on November 18, 2010, this time from his alma mater P100M June 2010, MML propelled the Meralco employees, inspiring late uncle, Fernando Lopez, a income of P7.58B for the first to the implementation of the Re- Gen Hydro Power Corpora- on Katipunan. country’s largest electric utility them to provide service be- former senator and three-term LOPEZ Holdings Corporation expenses following the signing P18.343B posted in 9M2009, and three quarters of 2010, up by newable Energy Act and P1.7B tion’s P1.141B net income OML enrolled at the Ateneo twice, for two years in the 1930s LOPEZ Holdings Corpora- to its highest operational ef- yond the ordinary and beyond vice president of the country. reported P13.035B in net income of a restructuring agreement reflects the strong performance of 446% from the year-ago level of in other income reported in 2010 for the period. in between stints at the former Iloilo Normal School (now West tion has received the green light attributable to equity holders of the with Union Bank of the Philip- associate ABS-CBN Corporation. P1.39B. EDC president and chief with the recovery of an impair- The geothermal leader also Visayas State University) and Markynoll in Baguio, and then for from corporate regulators to parent for the first nine months. pines in September 2010. The “Without the gain on sale, operating officer Richard Tantoco ment provision on EDC’s input reported a 26.8% increase in several months as a high school senior after World War II. undertake a quasi-reorganiza- The amount is 19% higher than restructuring resulted in the FPHC’s recurring net income attributed the income boost to a VAT (value added tax) claims. its core net income to P6.44B In his acknowledgment speech, the chairman emeritus de- tion as it maneuvers to clean up the P10.916B net income at- reclassification of P1B in parent attributable to parent would SKYBroadband boosts number of nonrecurring items.