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Pandemic hits Aboitiz group’s first-half profit

ABOITIZ Equity Ventures, Inc.’s (AEV) net income in the first semester plunged by more than half as the global coronavirus pandemic continues to batter its businesses.

AEV income falls 42%

ABOITIZ Equity Ventures, Inc. (AEV) on Thursday reported that its net income plunged by nearly a half in the first quarter as the income share from its power arm declined.

AEV slashes year’s budget by 36% to P47 billion as quarantine...

ABOITIZ Equity Ventures, Inc. (AEV) is slashing its 2020 capital expenditures (capex) by about 36% to P47 billion in a bid to cut spending as it factors in the impact of the coronavirus disease 2019 (COVID-19) pandemic.

AboitizPower targets Bataan power plant’s commercial run in early 2021

ABOITIZ POWER Corp. said it is eyeing to finish the preparation for a 668 megawatts (MW) power plant unit in Bataan this year before it can commercially run in the first quarter of 2021.

AEV signs P10-billion loan with Metrobank 

Aboitiz Equity Ventures, Inc. (AEV) has signed a P10-billion loan with Metropolitan Bank & Trust Corp. (Metrobank) to pay maturing bonds and support capital expenditures.

AEV income slips as power business segment falters

ABOITIZ Equity Ventures, Inc. (AEV) reported on Tuesday a 1% dip in net income to P22 billion for 2019, as its top contributing power business recorded a double-digit profit decline after last year’s power outages.

Aboitiz taps BlueVoyant for cybersecurity services

ABOITIZ Equity Ventures, Inc. (AEV) on Wednesday said it tapped global analytics-driven cybersecurity firm BlueVoyant as its managed security services provider.

SEC approves AEV shelf registration for P30-B worth of bonds

ABOITIZ Equity Ventures, Inc. (AEV) has obtained approval from the Securities and Exchange Commission (SEC) to offer to the public P30 billion worth of fixed-rate bonds.

AEV profit drops 27% in Q1

ABOITIZ Equity Ventures, Inc. (AEV) posted a 27% decline in first-quarter consolidated net income to P3.5 billion from P4.8 billion a year ago, due in part to non-recurring losses, the company told the stock exchange on Thursday.

AEV to issue P30-B retail bonds

ABOITIZ Equity Ventures, Inc. (AEV) will be issuing up to P30 billion worth of retail bonds to raise money that would finance future acquisitions and investments.

Aboitiz unit hopes to start operating two airports by end-2019

THE infrastructure unit of Aboitiz Equity Ventures, Inc. (AEV) hopes to start operating two regional airports by the end of 2019, including the P42.7-billion Laguindingan Airport in Misamis Oriental.

Sabin Aboitiz to take helm at AEV in 2020

ABOITIZ Equity Ventures, Inc. (AEV) President and Chief Executive Officer Erramon I. Aboitiz will step down from his post in January 2020, to be replaced by his brother and incumbent chief operating officer Sabin M. Aboitiz.

AEV subsidiary obtains P9-B loan for bulk water project

ABOITIZ EQUITY Ventures, Inc. (AEV) on Monday said it is borrowing P9 billion from several banks for its bulk water project in Davao City.

AEV to start Davao City bulk water project in Oct.

ABOITIZ Equity Ventures, Inc. (AEV) expects to start constructing its P14-billion Apo Agua bulk water supply project in Davao City by next month, after having secured all the necessary permits.

AEV, Ayala submit unsolicited proposal for national ID system

A CONSORTIUM which includes the Ayala and Aboitiz groups submitted to the government an unsolicited proposal for the design and development of the national identification (ID) system.

AEV’s first-half net income slips on forex losses

ABOITIZ EQUITY Ventures, Inc. (AEV) reported a first-half net income of P10.1 billion, lower by 2% compared with the P10.3 billion it recorded a year ago as the holding firm continued to suffer non-recurring foreign exchange losses on its dollar-denominated debt.

AEV earnings slip 2% in first half

Aboitiz Equity Ventures, Inc. (AEV) reported a 2% drop in earnings for the first six months of 2018, dragged by net forex losses coming...

AEV preparing for leadership transition

By Krista A.M. Montealegre, National Correspondent THE leadership transition at Aboitiz Equity Ventures, Inc. (AEV) is on course to be completed next year, with the...

Republic Cement sees profit rebounding this year

Republic Cement and Building Materials, Inc. expects profits to recover this year after higher input costs and intense competition put pressure on margins last...

AEV first-quarter profit inches up by 3%

Aboitiz Equity Ventures, Inc. (AEV) grew its first quarter consolidated net income by 3% to P4.8 billion from P4.7 billion last year due to...

AEV’s 2017 net income falls 4%

Aboitiz Equity Ventures, Inc. (AEV) saw its earnings dip in 2017, after incurring higher losses from the operations and refinancing of costs for its...

AEV submits P148-billion unsolicited proposal to revamp regional airports

The infrastructure unit of the Aboitiz Group submitted an unsolicited proposal to modernize four major regional airports for close to P150 billion. Aboitiz Equity Ventures,...

AEV consolidates banking units under UnionBank

By Krista A. M. Montealegre, National Correspondent ABOITIZ EQUITY Ventures, Inc. (AEV) transferred its ownership in PETNET, Inc. to the subsidiaries of UnionBank of the Philippines...

AEV pins hopes on gov’t projects to lift cement sales

By Arra B. Francia, Reporter ABOITIZ EQUITY Ventures, Inc. (AEV) is banking on the implementation of the government’s infrastructure projects to boost its cement business...

AboitizPower unit inks $800-M notes facility

ABOITIZ POWER Corp. on Wednesday said its unit GNPower Mariveles Coal Plant Ltd. Co. (GMCP) signed a notes facility agreement amounting to $800 million ...

Aboitiz Group preparing fifth generation for key leadership positions

THE Aboitiz group is preparing 11 fifth-generation family members as its next set of leaders within the next two years when a number of...