Aboitiz Equity booked Q1 net profit of P3.5b

Aboitiz Equity Ventures Inc. registered a consolidated net income of ₱3.5 billion in the first quarter of 2019, down 27 percent from ₱4.8 billion year-on-year, due to the lower contribution of business units. 

“Despite challenges, our long-term fundamentals remain intact. Our growth platform has expanded to 10 other countries across the Asia Pacific, providing us natural listening posts for expansion opportunities,” said AEV president and chief executive officer Erramon Aboitiz.

AEV recorded consolidated earnings before interest, tax, depreciation and amortization of ₱12.4 billion, 11 percent lower from ₱13.9 billion on year.

Power accounted for 71 percent of the total income contributions, followed by banking and financial services (27 percent).

Topics: Aboitiz Equity Ventures Inc. , net profit , net income
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.
AdvertisementSpeaker GMA