Aboitiz Group leaders are taking on the responsibility of bringing the team forward into a modern and transformative future. Focusing on “high-potential growth initiatives,” a “renewed entrepreneurial mindset,” and continuous investment in the “hypergrowth” of its team members in an enabling and inclusive work environment, the 100-year-old conglomerate is gearing up to thrive in a new business landscape.
At the 2022 Aboitiz Leaders Conference (LeadCon) held last February 10, Aboitiz Group President and Chief Executive Officer (CEO) Sabin M. Aboitiz emphasized that the way forward for the Group is through a “Great Transformation,” highlighting the value of Responsibility that is nurtured among all of its team members and being open-minded to more possibilities.
“As leaders, we have a responsibility to our team members and the entire organization to transform the way we think in order to transform the company into a greater one,” said Aboitiz. He stressed that reinvigorated people management is the key to ensuring the Great Transformation.
“The success of our individual team members is as, if not more, important than the success of the company—because the former ensures the latter and the latter encourages the former. This is the way to ensure that our evolution and transformation endures,” he explained. The Aboitiz Group President also encouraged leaders to build on the momentum brought by the Group’s strategic partnerships (such as the recent partnership with Japanese power company JERA) and the continued expansion with new projects, product lines, and service locations.
During the Aboitiz LeadCon, heads of the Group’s various business units presented their performance updates and directions, and zeroed in on their respective Transformation initiatives.
AboitizPower will continue to grow its renewable energy portfolio to 4,600 MW by 2030, aligning its energy transition with the Philippines’ economic recovery and growth aspirations. This year, AboitizPower will operationalize Aboitiz Renewable Inc to accelerate its Cleanergy portfolio. In fact, over 600 MW of renewable energy projects are on track to commence construction. AboitizPower will drive more to reach its 10-year pipeline projects for solar, wind, hydro, geothermal, and Battery Energy Storage Systems. Through the strategic partnership with JERA, AboitizPower looks to explore new pathways to decarbonization and the potential joint development of LNG-to-Power projects.
Banking and Financial Services
2021 was the strongest year for Union Bank of the Philippines in terms of financial targets and hitting major points in its digital strategy. UnionBank onboarded another 2.5 million customers last year and had a major landmark by being the winning bidder to acquire the consumer banking business of banking giant Citi in the Philippines. Its digital bank, UnionDigital, is prevued to be operational by mid-2022, after being granted one of only six digital banking licenses by the Bangko Sentral.
Aboitiz InfraCapital follows up its solid 2021 performance with expansion and operation projects this year. The next phase of expansion for its Economic Estates in Lipa-Malvar, Batangas, and Balamban, Cebu will add 239 hectares of property in total and spur economic activity in its areas. Its water businesses, which include Apo Agua Infrastructura, Inc. and LIMA Water Corporation, are working towards data-driven, innovative, and “green” solutions such as utilizing a water-energy nexus concept and creating a Smart Water Network that integrates water facilities into intelligent systems. Aboitiz InfraCapital also continues the growth of its common tower joint venture with Partners Group, Unity Digital Infrastructure.
Pilmico and Gold Coin aim to continue its expansions and acquisitions of facilities not just in the Philippines but across the entire Asian region, spanning China, Indonesia, Malaysia, and Vietnam. With the goal of becoming a leading integrated agribusiness and food company, Pilmico will increase its presence in fast-growing market segments like aquaculture, pet food, and specialty nutrition, and grow its business-to-consumer brands such as The Good Meat, Maxime, Woofy, and Tommy.
AboitizLand thrived in 2021 and achieved its best sales performance in the company’s 27-year history. For 2022 and beyond, AboitizLand is looking at exponential transformation powered by its investments in technology, data science and artificial intelligence, as well as strategic partnerships with future-forward companies. AboitizLand also plans to grow its customer base by positioning itself as the premier residential choice in new growth cities, as more and more Filipinos appreciate bigger living spaces and open areas.
Aboitiz Construction implemented its “Big Shift” strategy last year which pushed them to adapt to the changing market dynamics, resulting in improved financial performance. Coming into 2022 with a more diversified client base, a better-balanced project portfolio, and a new brand image, Aboitiz Construction is ready to aggressively grow its presence in markets such as heavy and light industries, infrastructures, and services.
Summing it up, Aboitiz emphasized that “a transformed organization is one that is clear-minded about the need to constantly change and pivot without being told to do so, because that transformational value is already instilled in you. We have to believe in it in order to instill it. When everyone thinks the same, then you have a fully and holistically transformed organization.”