SEPTEMBER 2012 www.lopezlink.ph Are you ready? RUN, RIDE & ROLL for the Pasig River on September 30! See story on page 10. http://www.facebook.com/lopezlinkonline www.twitter.com/lopezlinkph At 70 centimeters in diameter, this Rafflesia schadenbergiana appears a giant compared to the little boy. A bud was hacked during a slash-and-burn operation in the area in the recently declared R. schadenbergiana Critical Habitat Site by the Department of Environment and Natural Resources For love of nature THREE Lopez Group companies organized a series of programs and activities related to the environment, along with disaster preparedness, as tribute to chairman emeritus Oscar M. Lopez (OML) and his lifelong environmental advocacies. The programs included the establishment by First Philippine Holdings Corporation (FPH) of the Oscar M. Lopez Center for Climate Change Adaptation and Disaster Turn to page 6 Values storming Bea, JLC celebrate The guy’s guide to with Lopez Group 10 years of shopping at Power execs …page 5 togetherness …page 4 Plant Mall …page 12 Lopezlink September 2012 BIZ NEWS NEWS Lopezlink September 2012 JANUARY TO JUNE 2012 FINANCIAL RESULTS (Unaudited, consolidated) Net income/loss attributable to Lopez Holdings attributable TOTAL REVENUES 01 midyear conference: ‘Learn equity holders of the parent company Dispatch from Japan net income at P5.451B 2011 2012 % change 2011 2012 % change PH embassy in Japan donates from the lessons of Wall Street’ LOPEZ Holdings Corporation January 2012. FPH also booked revenues. Its associate, SKYcable, ABS-CBN P13.955B P15.252B +9 P1.677B P927M -45 LOPEZ Group chairman review, AMML expressed More stable organiza- registered P5.451 billion in net an additional gain relating to its demonstrated operational strength Lopez Holdings P13.955B P15.252B +9 P815M P5.451B +569 and Philippine Ambassador confidence that Lopez Group tional structure income attributable to equity previous sale of Meralco shares, in absorbing Destiny Cable. EDC P11.736B P15.369B +31 (P2.331B) P4.618B +298 bazaar proceeds to NGOs to Japan Manuel M. Lopez leaders will exercise caution “One take-away we have holders of the parent for the with the assignment to the FPH FPH, in addition to a number First Gen $643.866M $776.665M +21 ($16.004M) $92.754M +680 (AMML) urged senior ex- and prudence, as well as be from the [hard] years is that first six months of 2012. This Group of Rockwell Land shares of extraordinary gains during FPH P31.488B P39.860B +27 (P402M) P10.776B* +2,781 ecutives of the Lopez Group to ready with the right response we can only grow the business is 569% higher than the P815 received as property dividends by the period, continued to harness Rock P2.539B P2.525B +1 P394.3M P439.7M +12 learn from the lessons of Wall for eventualities. if we have the people. We need million in net income attribut- buyer Beacon Electric. consistently stable performance Street and operate in “near- Razor-sharp risk manage- key competencies in place and able to equity holders of the Unaudited consolidated rev- from its generation assets. We are *Including P6.084 billion gain on sale of investment in equity securities and P1.834B gain related to busi- crisis mode” in order to sustain ment what happened before is that parent reported in 1H2011. enues increased by 9% YoY to optimistic this trend can be sus- ness combination (remeasurement of Rockwell shares) the growth trajectory of the “We need to be as slim as we were stretched way beyond This was primarily due to P15.252B from P13.955B as as- tained for the rest of the year,” said Group in the next five years. we can be but as effective as the competencies we had then. the 39x year-on-year (YoY) in- sociate ABS-CBN Corporation Lopez Holdings president, chief FPH consolidated revenues up 27% “The Philippine economy we have always been. We have We just didn’t have the people crease in equity in net earnings continued TV ratings supremacy operating officer and chief finance may seem immune to world to make sure that our risk to do it. We had no seasoned FIRST Philippine Holdings of associates to P4.914B from in 1H2012 and implemented officer Salvador G. Tirona. Revenues from contracts services accounts for 4% of to- economic turbulence but in the management is always razor veterans then. I believe we Corporation’s (FPH) consoli- an equity in net loss of associates higher advertising rates begin- As of December 31, 2011, and services went up by 43% tal revenues in 2012 and 2011. end, we are not, and we have sharp. We must make sure we have a much more stable or- dated revenues totaled P39.9 bil- of P127M, after associate First ning February 2012. Lopez Holdings held a 60.3% (P486M) to P1.6B, mainly due Share in project revenue of to be prepared for anything. do not suffer again as we did ganizational structure now. lion for the first semester ended Philippine Holdings Corpora- “ABS-CBN consumer sales economic interest in ABS- to the revenues on construction joint ventures amounted to P20M Let us not be blindsided by all during the last Asian crisis. Junior executives are feeding June 30, 2012. This is higher by tion (FPH) sold a 2.66% stake showed strength, growing 17% CBN and 46.6% in FPH. and drilling contracts of First in 2012 which is equivalent to the favorable reviews of our We must learn the hard les- the pipeline,” EL3 said. 27% or P8.4B compared to the (30 million shares) in Meralco in compared to 5% for advertising (Carla Paras-Sison) Balfour and its wholly-owned the two-month period in which economy and forget that good sons that experience taught us. The vice chairman reminded previous year’s P31.5B. subsidiary ThermaPrime Well Rockwell Land was consolidated as our economy may seem to We must make sure no detail is executives to continue develop- Sale of electricity accounted Services Inc. This account also under the parent company. be, we still have to operate in neglected in our business plans ing people “with discipline and for 76% of FPH’s total revenues First Gen reports net income includes the revenues from FPH’s consolidated costs a world where two of the most that would make us vulnerable focus.” With the Lopez Group during the first half of 2012 and commercial leasing of Rockwell and expenses totaled P32.4B for important economies are in in any crisis that may affect poised to double its market value 88% for the same period in 2011. Land amounting to P147M for the first semester ended June 30, Maritess Lopez (5th from right) visits the Batis Center for Women to turn over part of the PH share of the serious trouble,” AMML said, our economy, our currency and in the next five years, EL3 sees attributable to parent of $92.8M Equity in net earnings of associ- the two-month period in which 2012. This is higher by 13% or proceeds from the ALFS charity bazaar referring to Europe and the our businesses. We must have ample opportunity for top per- FIRST Gen Corporation re- the 49-MW Northern Negros higher than the earnings made ates, including Energy Develop- Rockwell Land was consolidat- P3.8B compared to the P28.6B US. our ears on the ground and formers to help the Group grow ported net income attributable geothermal plant for the same for the same period in 2011. ment Corporation, Rockwell consolidated costs and expenses ed under the parent company. THE Philippine Embassy in Asia-Pacific Ladies Friend- At the DAWN office Speaking at the start of the detect dangers like the bubbles “beyond normal growth, not to parent of $92.8 million for period last year. First Gen issued P12.0 billion Land and First Gen Hydro for the same period in 2011. Revenue from contracts and Japan, led by Maria Teresa ship Society (ALFS) char- on Taft Avenue, Manila, 2012 midyear performance that destroyed the American just to maximize shareholder the period ended June 30, 2012. In May 2012, First Gen Series G preferred shares at a Power Corporation, amounted L. Lopez, spouse of Am- ity bazaar held in Tokyo in Lopez met former migrant economy in recent years,” the value, but to keep top perform- This was a turnaround from the purchased the BG Group’s 40% rate of 7.7808% in May to par- to P3.0B for the first semester of bassador Manuel M. Lopez, April. Lopez chaired the workers in Japan who are chairman said. ers within the Group.” $16.0M attributable net loss it stake in the Santa Rita and San tially fund the purchase of the 2012, a reversal from equity in Bayan Business donated a total of P400,000 ALFS, a Tokyo-based orga- now engaged in weaving, Lopez Group vice chair- EL3 said, “As our chairman registered for the same period in Lorenzo natural gas-fired com- stake. net losses of P1.2B for the same ABS-CBN nets P927M to two nongovernment nization bringing together sewing and cosmetology man and ABS-CBN Broad- (AMML) said, ‘We have to be 2011. First Gen’s consolidated bined cycle power plants, or the “The purchase of BG’s 40% period last year. ABS-CBN Corporation SKYcable continues to be fortifies presence organizations committed women from 26 Asia-Pacific under the DAWN’s alterna- casting Corporation chairman clear on how to grow our busi- revenues rose by $132.8M, or First Gas plants, becoming the stake in the First Gas plants Sale of merchandise contrib- reported a consolidated net a major driver of growth with to assist Filipino migrant countries, from mid-2011 to tive livelihood program.