JUNE 2015 www.lopezlink.ph Sa ika-12 ng Hunyo, gunitain ang kanilang ipinaglaban. http://www.facebook.com/lopezlinkonline www.twitter.com/lopezlinkph Maligayang Araw ng Kalayaan, Pilipinas! #SKYat25: A celebration of ‘wow at saya’ AS a teen, Alex’s family had four channels on their TV, five on a good day. Residential landline phones were objects of wonder found in only a few homes, even in the 1990s. Comput- ers and cellphones were like extraterrestrials—one heard about them but didn’t actually see them. Turn to page 6 Samontes vs. Lopez Group 1Q financial Elizondos in Dad’s Day@Power results …page 2 …page 12 ‘Pasion’ …page 4 Plant Mall Lopezlink June 2015 Lopezlink June 2015 Biz News Biz News JANUARY TO MARCH 2015 FINANCIAL RESULTS (UNAUDITED) NET INCOME ATTRIBUTABLE TO Dispatch from Japan TOTAL CONSOLIDATED REVENUES EQUITY HOLDERS OF THE PARENT First Gen reports attributable COMPANY Embassy briefs vice mayors on PH-Japan relations 2014 2015 % change 2014 2015 % change net income up 18% at $50.5M FIRST Gen Corporation re- higher recurring net income The combined earnings of the P569.2M ABS-CBN P8.191B P8.391B +2 P538.1M +6 ported net income attributable contribution of the geothermal plants were $29.6M versus Lopez Holdings P23.535B P25.942B +10 P877M P1.095B +25 to equity holders of the parent and natural gas businesses. $27.6M in comparison to the EDC P7.138B P8.498B +19 P2.376B P2.493B +5 of $50.5 million for the first First Gen’s consolidated same quarter last year. First Gen $457.0M $500.0M +9 $42.9M $50.5M +18 quarter ended March 31, 2015. revenues from the sale of elec- The earnings contribution FPH P23.183B P25.567B +10 P1.029B P1.661B +61 This was a 17.7%, or $7.6M, tricity increased by $43.0M, of EDC and FG Hydro in Rockwell P1.423B P1.828B +28 P254.2M P359.9M +42 increase from the $42.9M reg- or by 9.4%, to $500.0M for the first quarter 2015 both in- First Gen board gets fresh mandate from stockholders Members of the board istered in the same period in the first quarter of 2015 from creased to $22.9M and $9.5M, The financial performance of listed companies that belong to the Lopez Group in the first quarter of 2015 of First Gen Corporation, led by chairman and CEO Federico R. Lopez (4th from left), pose for a group photo 2014. The growth was primar- $457.0M for the same quarter respectively. improved year-on-year, with all companies posting increases in attributable earnings ranging from 6% to right after they were reelected by stockholders during the company’s annual stockholders’ meeting on May 61%. Revenue gains ranged from 2% to 28% ily due to the higher earnings last year. The Santa Rita and “The year is off to a good 13, 2015. Also reelected were (l-r) Jaime Ayala; Richard Tantoco; president and COO Francis Giles Puno; booked by its geothermal sub- San Lorenzo natural gas-fired start. …San Gabriel’s con- AMML (8th from left) with members of the Vice Mayors’ League of the Philippines and key local chairman and CEO Federico R. Lopez; chairman emeritus Oscar M. Lopez; Elpidio Ibañez; Peter Garrucho; and sidiary Energy Development power plants accounted for struction is in progress. Our administration officials Tony Tan Caktiong. Eugenio Lopez III (not in photo) was likewise reelected. First Gen is the country’s leading Corporation (EDC) resulting $308.2M, or 61.6%, of the attention is now focused on clean and renewable energy company with 2,942 megawatts in installed capacity as of December 31, 2014. Lopez Holdings attributable from its higher revenues. First total consolidated revenues. bringing Avion to commercial THE Philippine embassy first batch, AMML stressed cooperation of the Philippines (Joel Gaborni) Gen Hydro Power Corpora- EDC’s revenues accounted for operation in the third quarter conducted briefings on Phil- the strong and vibrant rela- and Japan in efforts to ensure tion likewise posted higher $166.1M or 33.2%, while FG so that it can also contribute ippines-Japan relations for tions of the Philippines and maritime security, peace and net income at P1.095B revenues as revenues recorded Hydro’s revenues were $23.5M to our earnings. Moreover, we members of the Vice Mayors’ Japan. stability in the region, em- Lopez Holdings associates LOPEZ Holdings Corpora- primarily due to solid perfor- studio business of ABS-CBN normalized in the first quarter or 4.7%. eagerly anticipate the govern- League of the Philippines He noted that Japan is phasizing the importance of tion reported P1.095 billion mance of the business units Corporation is reflected in the of 2015. The natural gas-fired plants’ ment’s plan to bid out gas from who recently visited Japan as the top trading partner of the rule of law and the peace- continue with investment programs in net income attributable to associated with First Philip- 6% increase in equity in net On a recurring basis, net in- combined revenues were 4.3% Malampaya this year in order part of Building Capacities of the Philippines with exports ful settlement of maritime ASSOCIATES of Lopez able power generating assets. Salvador G. Tirona said the equity holders of the parent for pine Holdings Corporation earnings of associates, PDRs come attributable to the parent higher from the previous year’s to secure additional supply Local Leaders towards Good of construction materials and disputes. AMML encour- Holdings Corporation remain First Gen’s fast-track Avion company continues to provide the first quarter of 2015. (FPH). and joint venture. was higher by $4.2M, or 9.3%, $295.5M due to higher elec- for our growth projects,” First Governance: An Internation- wooden products, semicon- aged the vice mayors to learn in investment mode as operat- power plant is expected to begin support to associated compa- This is 25% higher than the Unaudited consolidated As of March 31, 2015, from $45.3M in 1Q 2014 to tricity generation, though par- Gen president Francis Giles al Benchmarking Program for ductors and integrated cir- from Japan’s local government ing units expand offerings to operations within 2015. nies as they “pursue sustainable P877 million in net income revenues increased by 10% Lopez Holdings held a 56% $49.5M in 1Q 2015 due to the tially offset by lower gas prices. Puno said. Local Government Officials. cuits and automotive electric programs especially on waste meet the demands of a grow- ABS-CBN is pioneering strategic initiatives aligned attributable to equity holders year-on-year to P25.942B economic interest in ABS- The vice mayors and key components, among other management and recycling. ing economy. Lopez Holdings digital terrestrial television with our mission to improve of the parent reported in the from P23.535B. The contin- CBN and 46% in FPH. (Carla local administration officials, products. He added that The ambassador was as- owns 46% of First Philippine services through its branded the lives of our fellow Filipi- first quarter of 2014. This was ued strength of the TV and Paras-Sison) EDC reports attributable recurring who were in two batches, Japan is the largest source sisted in the briefings by focused on Japan’s solid waste of official development as- deputy chief of mission Gil- Holdings Corporation (FPH) ABS-CBN TVplus. It is carv- nos.” management program. sistance and has provided berto Asuque, consul general and holds a 56% economic ing its own niche in the com- Lopez Holdings an- net income of P2.5B, up by 14% Ambassador Manuel M. technical and educational Joy Tirol-Ignacio, vice consul interest in ABS-CBN Corpo- petitive mobile phone market nounced a P0.10 per share cash FPH net income attributable ENERGY Development riod in 2014. The improvement “The first-quarter results Lopez (AMML) welcomed support for the peace process Dominic Imperial, labor at- ration. through its catch-up viewing dividend to be paid on June 27 Corporation (EDC) reported was principally driven by higher meet our expectations,” EDC the two batches of officials in Mindanao. taché Luz Talento and agri- FPH associates First Gen and exclusive original content to stockholders as of the record a consolidated recurring net revenue contribution of P0.5B president and chief operating who called on him at the In the meeting with the culture attaché Dr. Samuel Corporation and Energy De- on iWantv, made available date, June 15. Lopez Holdings to parent up by 61% income attributable to eq- from the operations of Bacman’s officer Richard Tantoco said. embassy in Roppongi, Tokyo. second batch of officials, Animas. (Excerpted from tokyo. velopment Corporation are through ABS-CBNmobile. began paying out annual divi- FIRST Philippine Holdings ed March 31, 2015, higher by First Balfour Inc. registered uity holders of the parent of Units 1, 2 and 3 power plants. “Q1’s reported operating During the dialogue with the AMML focused on the close philembassy.net) strengthening their portfolio of In his report to sharehold- dends in 2011. (Carla Paras- Corporation (FPH) posted a P330M or 17% than last year’s a net income of P208M, 89% P2.5 billion for the first three The Nasulo and Burgos Wind expenses, when annualized, are clean, indigenous and/or renew- ers, Lopez Holdings president Sison) consolidated net income attrib- P1.9B ($42.9M) (see related or P98M higher than last year’s months of 2015, 14% higher power plants, which were com- expected to be on the lower end utable to parent of P1.7 billion story on this page).