AEV Marks 25th Listing Anniversary At PSE
Franz de la Fuente | November 22, 2019
AEV celebrated its 25th year on the Philippine Stock Exchange (PSE), marking 25 years of advancing business and communities through its various BUs.
At the special ceremony held on November 22 at the PSE Tower in Bonifacio Global City, AEV leaders joined PSE in ringing the opening bell to signal the start of market trades for the day. They also received a commemorative plaque from the PSE executives.
As businessmen, there is no doubt we seek profits and a return on our capital. But as Filipinos, we are equally guided by a sense of purpose to find meaningful ways of contributing to our communities across the country. This symbiotic relationship of profit and contributing to society is our secret sauce to true sustainability, allowing the Aboitiz Group to drive change for a better world by advancing business and communities.
– Erramon I. Aboitiz, President and CEO, AEV
On November 16, 1994, AEV listed on the PSE following an Initial Public Offering (IPO) that raised $184 million for future investments and growth.
As of the third quarter of 2019, AEV total assets have grown 66 times from 1994 to about PHP576 billion. Consolidated earnings before interest, taxes, depreciation, and amortization grew about 90 times to PHP60 billion, while consolidated net income grew 42 times to about PHP21 billion as of the last 12 months ending the third quarter this year.
Aside from its profitable ventures one of the things that the PSE as a regulator appreciates about [the company] is its governance and sustainability programs. In the last five years of the PSE Bell Awards, AEV [has been] a consistent finalist. It also bagged the prestigious Bell Awards three times during the five-year period…It is commendable that the company is proactive in ensuring that its business not only benefits its shareholders and customers but the bigger community as well.
– Jose Pardo, Chairman and Independent Director, Philippine Stock Exchange
Business Unit Growth
Since 1994, AEV’s BUs have expanded in line with the country’s growth trajectory.
From being an emerging player, AboitizPower has built a robust and diversified portfolio of generating assets with national reach, while from traditional retail, UnionBank is now transforming itself into a digital bank.
From its beginnings in flour, Pilmico has grown to become an integrated food company in Southeast Asia. Meanwhile, from its initial projects in Cebu, AboitizLand is now an emerging real estate player nationally.
Meanwhile, the Aboitiz Group is now firmly in the infrastructure sector through Aboitiz InfraCapital and Republic Cement.