JUNE 2016 www.lopezlink.ph This Father’s Day, EL Center salutes the Best Dad Ever! http://www.facebook.com/lopezlinkonline www.twitter.com/lopezlinkph Details on page 5. NO to coal. FPH pushes forThis was the declaration made by Federico R. Lopez (FRL), chairman of First Philippine Holdings Cor- poration (FPH), before stockholders during the company’s annual meeting energy shift in Ortigas. Turn to page 6 Lopez Group 1Q Father power …page 12 financial performance …page 2 …page 4 Lopezlink June 2016 Lopezlink June 2016 Biz News Biz News JANUARY TO MARCH 2016 FINANCIAL RESULTS (UNAUDITED) Dispatch from Japan Lopez Holdings attributable Total consolidated revenues Net income attributable to equity ABS-CBN dominates holders of the parent company Last two voters in Tokyo hope for a better net income at P1.50B 2015 2016 % change 2015 2016 % change By Carla Paras-Sison Philippines May national TV ratings ABS-CBN P8.326B P9.795B +18 P667.7M P839.2M +26 THE Philippine embassy in By Kane Choa LOPEZ Holdings Corpora- ings Corporation (FPH) and Higher efficiencies accounted Lopez Holdings P25.252B P22.721B -10 P1.085B P1.350B +24 Tokyo recorded the last male tion reported P1.350 billion in ABS-CBN Corporation. for the gains with FPH costs EDC P8.498B P9.096B +7 P2.493B P3.254B +31 and female overseas voters ABS-CBN Corporation contin- net income attributable to eq- Unaudited consolidated rev- and expenses falling by a faster ued to register huge viewership on First Gen $500.0M $420.4M -16 $50.5M $60.8M +20 to have cast their votes for uity holders of the parent for the enues decreased by 11% year- 16% following an 11% decline in both television and online for the FPH P25.280B P22.745B -10 P1.661B P2.097B +26 the national elections shortly first quarter of 2015. This is 24% on-year to P22.721B from revenues. In the same vein, ABS- month of May, with a 44% audi- ROCK P1.828B P2.014B +10 P359.9M P340.1M -6 before 6 p.m. (5 p.m. Manila higher than the P1.085B in net P25.252B. CBN’s expenses grew by a slower time). Both voters expressed ence share compared to GMA income attributable to equity FPH posted a 26% increase in 14% compared to an 18% rise in The financial performance of listed companies that belong to the Lopez Group in the first quarter of 2016 hope for a better Philippines Network Inc. with only 32%. holders of the parent reported in net income attributable to equity revenues. improved year-on-year, with higher efficiencies and generally better margins achieved by both the energy and in the next administration. ABS-CBN remains in a league the first quarter of 2015, driven holders of the parent while ABS- As of March 31, 2016, Lopez communication groups Jazz singer Maria Eva of its own in the prime time by the steady performance of CBN registered a 34% increase Holdings owned 46% of FPH Livelo Yokohama, a perma- block with a 49% average audi- investees First Philippine Hold- in net income during the period. and 56% of ABS-CBN. nent resident who has lived in ence share that is 18 percentage EDC reports attributable recurring Japan for the last 35 years, is points higher than rival GMA’s a first-time overseas voter. She 31% average audience share dur- First Gen attributable net income up by 21% ing the same time block. net income of P2.63B, up by 7% said she read online news to Nine programs in Top 10 FIRST Gen Corporation re- $200-M term loan it obtained of 2016. Aside from higher know the candidates’ achieve- figures on the political events in voting experience. ENERGY Development Cor- Revenue results for the bal- growth projects late in 2015 to ported net income attributable in 2015 to fund growth projects, dispatch, lower operating, inter- ments, their plans and pro- the Philippines, but added that For the 2016 national Nine out of the 10 programs poration (EDC) reported a con- ance of the portfolio were par- instead refocus investments on to equity holders of the parent as well as First Gen Hydro Pow- est and tax expenses led to the grams, and whether they are not everything in social media elections, the Philippine in the Top 10 for the month of solidated recurring net income tially muted as some of the gains the existing asset base to boost of $61 million for the first quar- er Corporation’s lower earnings higher income. fit to hold public office. is true and correct. embassy in Tokyo imple- May belong to ABS-CBN, led attributable to equity holders of in sales volumes have been ne- overall output, reliability and ter-ended of 2016. This was a contribution due to lower aver- FG Hydro’s revenues were Application developer Mi- They received their ballots mented the automated elec- by “FPJ’s Ang Probinsyano,” with ANC anchor Cathy Yang (left) with ABS-CBN chairman Eugenio Lopez the parent of P2.63 billion for gated by lower spot prices. The cash generation. We are already 21%, or a $10M, increase from age spot market prices. slightly lower by $2M for the chael Henry Pasco Pantaleon by mail but decided to per- tion system, allowing the an average national TV rating of III who visited the #halalan2016 marathon coverage with the youngest the first quarter of 2016, or 7% increased revenues from plants seeing some of the gains come the $50M it cleared for the First Gen’s consolidated rev- first quarter of 2016 at $21M has worked in Tokyo for more sonally appear at the embassy 20,363 registered overseas 41.1%, followed by the return- election observers in the ABS-CBN studios, his grandchildren higher than the P2.46B posted with largely contracted capaci- in,” Tantoco added. same period in 2015. enues from the sale of electricity as a result of lower average spot than a year now and is also a for them to experience feed- voters to cast their votes ing “The Voice Kids,” which got a during the same period last year. ties—Burgos Wind, Unified Inclusive of nonrecurring First Gen’s 1,500-MW Santa decreased to $420M for the first market prices. Its earnings con- first-time overseas voter. He ing their ballots into the vote either by postal or personal 36.1% rating, and “Dolce Amore” of 47% against the 33% of GMA; Consolidated revenues Leyte and Palinpinon/Ton- items, consolidated net income Rita and San Lorenzo natural quarter of 2016 compared to tribution was flat at $9M. said he used social media as one counting machine. Both ex- voting. (Excerpted from to- with 32.9%. They are joined in Visayas where it scored 54% PromosBy Dino Quizon & offers reached P9.10B in 1Q 2016, gonan—were partly offset by attributable to equity holders gas-fired plants (the First Gas $500M last year. The First Gas “The delivery of the 97-MW of his sources to get facts and pressed satisfaction with their kyo.philembassy.net) the Top 10 by “Pilipinas Got Tal- against the 24% of the rival net- Plants) and Energy Develop- Plants accounted for $229M or Avion and the 414-MW San up by P0.60B or 7%, from the lower reported revenues from of the parent stood at P3.25B, ent” (32.8%), “Maalaala Mo Kaya” work; and in Mindanao where it ment Corporation (EDC) con- 54% of First Gen’s total consoli- Gabriel power plants is im- P8.50B in 1Q 2015. plant capacities exposed to the 31% higher than the P2.49B in (30.1%), “TV Patrol” (29.5%), garnered 54% against the 27% of Super Saver tributed to the higher earnings. dated revenues. Their revenues minent. They have been com- Increased core income and spot markets, as in the Bacman 2015. The increase was primar- “Wansapanataym” (28.9%), “Home the Kapuso station. Plan 3Mbps: On a recurring basis, First were 26% lower in comparison missioning since the early part revenues resulted primarily and Nasulo power plants. ily driven by higher revenues Sweetie Home” (23.7%) and “Rat- ‘Halalan 016’ Gen’s attributable net income to their contribution of $308M of 2016 and have been able to from higher energy sales be- “The effects of low electricity of about P0.60B mainly from ed K” (21.2%). Additionally, ABS-CBN’s Unlimited ing reported by EDC’s Bur- spot price, while significant, are Burgos Wind and higher forex Hawaii explores possible for the first quarter of 2016 was in the first quarter of 2015 as serve the tightness in the mar- Meanwhile, “Be My Lady” Halalan 2016 special coverage slightly higher at $51M from a result of lower fuel prices, ket, especially during mid-merit gos Wind Project. For the being addressed by the com- gains amounting to P0.48B (17.4%) is still the most- got 10.2% national TV rating internet and a $49M previously. Recurring net though partially offset by the to peaking hours. We remain first quarter of 2016, Burgos pany,” Richard Tantoco, EDC following the realignment of watched daytime program versus 8% of GMA’s Eleksyon lot more! Wind’s core income increased president and COO, said. the US dollar-denominated collaboration with EDC With SKY’s Super Saver Plan income improved due to the higher combined dispatch of the committed to provide clean, while “It’s Showtime” (18.5%) 2016 on the morning of election First Gas Plants’ and EDC’s gas plants at 84% versus 78%.