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Financial Highlights FINANCIAL HIGHLIGHTS EEI CORPORATION ANNUAL REPORT 2016 1 FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS EEI CORPORATION AND SUBSIDIARIES In Million Pesos, except per share data FOR THE YEAR 2012 2013 2014 2015 2016 Revenues 14,217.48 11,331.57 17,580.98 18,402.16 13,590.05 Equity from Associates 431.12 529.10 423.80 (676.31) (1,316.13) EBITDA 1,716.11 1,622.23 1,814.84 1,096.30 112.93 CONTENTS Net Income (Loss) 978.82 915.69 918.27 202.73 (847.70) Earnings Per Share 0.9445 0.8835 0.8861 0.1956 -0.8180 01 FINANCIAL HIGHLIGHTS AT YEAR END Total Assets 12,401.83 13,600.96 18,352.37 22,471.73 20,203.09 02 A TRIBUTE TO OUR LATE CHAIRMAN Total Liabilities 7,387.95 7,817.84 11,692.92 15,690.49 14,359.37 Total Equity 5,013.88 5,783.12 6,659.46 6,781.24 5,843.72 06 MESSAGE TO SHAREHOLDERS Book Value Per Share 4.84 5.58 6.43 6.54 5.64 08 MANAGEMENT’S DISCUSSION AND ANALYSIS 2016 24 VISION AND MISSION NET INCOME ASSETS, LIABILITIES & EQUITY On Our Cover (Billions) 26 BUILDER OF A BETTER FUTURE We give tribute to our former Chairman, 1,500 25 Ambassador Alfonso T. Yuchengco, a true Total Equity 20.20 30 STEWARDSHIP AND 800 978.82 visionary, a man ahead of his time. EEI is 915.69 918.27 20 Total Liabilities COMMUNITY BUILDING Total Assets honored to have been instrumental in building 300 15 14.36 36 CORPORATE GOVERNANCE some of the structures of YGC companies such as the RCBC Plaza Towers, RCBC (200) 10 Savings Bank, Mapua Institute of Technology, 5.84 40 BOARD OF DIRECTORS (700) 05 Malayan Colleges, and the ETY Building, as (847.70) 42 OFFICERS well as structures which the late Ambassador (1,200) helped build like the De La Salle University 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 48 CORPORATE INFORMATION Don Enrique T. Yuchengco Hall. DEBT-EQUITY RATIO BACKLOG AND LOAN LEVEL 49 FINANCIAL SECTION Ambassador Yuchengco personifies our vision Backlog Loan Level of being a Builder of a Better Future. (Billions) (Billions) 5.12 4.45 3.0 60 Foreign Backlog 5.5 IB INVESTOR INFORMATION Domestic Backlog 2.46 11.77 2.5 2.31 50 Local Loan Level 4.5 3.79 3.25 2.0 1.76 40 3.5 1.47 1.5 1.35 30 2.5 1.15 1.0 20 1.5 0.5 10 45.73 1.0 0 0.5 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2 EEI CORPORATION ANNUAL REPORT 2016 EEI CORPORATION ANNUAL REPORT 2016 1 FINANCIAL HIGHLIGHTS A TRIBUTE TO OUR LATE CHAIRMAN He was a man of honor. A distinguished diplomat, a successful businessman, a passionate philanthropist, an ardent educator, Ambassador and a man of integrity. Alfonso T. Yuchengco (FEBRUARY 6, 1923-APRIL 15, 2017) Ambassador Alfonso T. Yuchengco, through his numerous the YGC such as education, handled by the Mapua Institute successes in business, foreign relations, and socio-civic of Technology and its subsidiaries, construction through organizations, made a significant imprint not only in the EEI Corporation, car dealerships with Honda and Isuzu, and various sectors and businesses he handled throughout his life, finally, property management. but also in the lives of millions of Filipinos. Being a passionate philanthropist, Alfonso T. Yuchengco also Ambassador Yuchengco, fondly called “AY” by his friends and put up the AY Foundation, YGC’s socio-civic arm whose colleagues, lived an exemplary life, reflective of a true man vision is to help uplift Filipino lives through various CSR of honor and a forward-thinking leader. He was the pivotal (corporate social responsibility) projects. Part of his mandate figure and founder of the Yuchengco Group of Companies for every YGC member is to give 1% of their profits to the AY (YGC), one of the country’s biggest conglomerates with an Foundation to sustain multiple humanitarian efforts. impressive business portfolio. The conglomerate stands solid on four major flagship corporations that mirror AY’s vision Alfonso T. Yuchengco’s natural ability to weave success in of putting up companies designed to help move the country all of his ventures was already evident in his earlier years. forward. Born in February 6, 1923 to Don Enrique Yuchengco and Maria Tiaoqui, the young Alfonso showed immense interest The RCBC Group stands at the helm of YGC. Alongside in commerce by venturing into his own small business. As a RCBC, one of the country’s major universal banks, is RCBC teenage entrepreneur, he bought wholesale soap products Savings Bank -- the retail banking arm of RCBC. The group from a soap factory owned by his father’s friend and started also includes RCBC Bankard, the bank’s credit card servicing a small buy-and-sell business that he ran independently and, entity. Following the RCBC Group is Malayan Group of later on, with the help of his other schoolmates. This early Insurance Companies led by Malayan Insurance Company, start proved the incontestable fact that the young Alfonso Inc. currently the leading non-life insurer in the country, was born to lead and groomed to face every challenge with Bankers Assurance Corporation (BAC), and First Nationwide head held high, and with one thing in mind: success. Assurance Corporation (FNAC). The third pillar of YGC is Grepalife (Great Pacific Life Assurance Corp.); one of the After his father passed, Alfonso took on the mantle as head pioneer life insurance companies in the country, now Sunlife of the family business in 1953. It was then that he began to Grepa Financial. Completing YGC’s flagship companies is show his strong business acumen. He assumed management House of Investments (HI), the first investment house in of China Insurance and Surety Co., owned and founded by his the country which encompasses the other industries under father Don Enrique Yuchengco. 2 EEI CORPORATION ANNUAL REPORT 2016 EEI CORPORATION ANNUAL REPORT 2016 3 A TRIBUTE TO OUR LATE CHAIRMAN FINANCIAL A TRIBUTE HIGHLIGHTS TO ATY After being shuttered due to the ravages of World War I, Alfonso’s ventures expanded with the birth of Grepalife, one China Insurance was rebuilt from the ground up. Alfonso of the earlier top life insurance companies in the country in was a firsthand witness of how Don Enrique’s stewardship terms of assets and premium income. In 1959, he established allowed China Insurance to honor war claims ex-gratia, HI which delved into other ventures such as education. This though these were not within the scope of the conditions spurred the birth of iPeople which focuses on the academe, of the policy. Alfonso inherited from his father the firm having Mapua Institute and its subsidiaries as members. In belief that Filipinos needed an insurance company that they 1993, another venture was added to HI’s roster, EEI Corpora- could count on for fair dealings and speedy settlement of tion, formerly Engineering Equipment, Inc., a thriving con- just and valid claims. To support the social thrust to build struction, machinery, and foundry corporation. a Malay race identity in the Philippines, the business was “This is the legacy that Ambassador Alfonso T. Yuchengco infused with fresh capital and became Malayan Insurance Years after, RDB (Rizal Development Bank) was born and was Company, Inc. Under the stewardship of AY, Malayan grew renamed Rizal Commercial Banking Corporation (RCBC) will always be remembered for—one that is founded on from a humble Binondo enterprise into a more thriving when it became a commercial bank in 1963. To date, RCBC Malayan Group of Insurance Companies, the leading remains one of the major universal banks in the Philippines. leadership, built with integrity, and anchored on service.” provider of non-life insurance products and services in the Thanks to the Ambassador’s trailblazing thinking, he also Philippines. By this time, Alfonso T. Yuchengco had already pioneered the introduction of Diner’s Card in 1958, the first become a beacon of innovative thinking, having been one credit card in the country. The coming years saw the imminent of the first industrialists to delve into joint ventures with success of Alfonso T. Yuchengco’s dreams as YGC continued local and international corporations. to grow into the iconic conglomerate it is known today. Going beyond the confines of his country, Alfonso T. Yuchengco also gained recognition in the international arena. He was Ambassador to China (1986-1988) and Japan (1995- 1998), Presidential Special Envoy to Greater China, Japan and Korea (2001), and Philippine Permanent Representative to the United Nations (2001-2002). After two years, he was ap- pointed Presidential Adviser on Foreign Relations. His active role in business and foreign relations earned him international recognition, several honorary doctorate degrees from re- nowned universities, honorary professorships, and several Hall of Fame awards. Up to this day, Alfonso T. Yuchengco’s name stands tall, mirroring what it means to be a true man of honor. A bigger feather on his cap though, is his remarkable way of touching the lives of others. Through his AY Foundation, he was able to mount numerous socio development-focused programs such as scholarships, medical missions, community service awards, child welfare assistance, and national discipline programs. AY Foundation was Ambassador Yuchengco’s answer to his vision of uplifting the country, driven to pursue the road to greatness. Through the years, Alfonso T. Yuchengco has built his name with ideals that will never falter, no matter what kind of changes, challenges, and opportunities would come.
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