Aboitiz Group President and CEO Sabin M. Aboitiz affirmed the commitment to long-term value creation and highlighted operational achievements and disciplined capital deployment across key business units during Aboitiz Equity Ventures’ (AEV) annual shareholders’ meeting held last April 28.

“We are building a future that is bold, inclusive, and transformative,” SMA said in his President’s Report. “And as the Philippine economy shows resilience and renewed strength, AEV is well-positioned to drive meaningful progress for our stakeholders and our nation.”

The company's robust financial results in 2024 show marked resilience despite headwinds in select sectors:

• Core net income increased by 15% to PHP25.5 billion
• Consolidated EBITDA rose by 3% to PHP83.6 billion, driven by strong performances in power, banking, food, and infrastructure.
• Group net income of PHP18.1 billion even with a PHP7.5-billion impairment in its cement business
• Shareholder returns also reflected continued growth as AEV declared a regular cash dividend of PHP1.54/share

In 2024, the Group deployed PHP76.5 billion in capital expenditures, signaling sustained confidence in long-term, sustainable growth. strong financial position With total consolidated assets growing to PHP893 billion, and a steady net debt-to-equity ratio of 0.8x.

SMA also highlighted key BU activities:

• AboitizPower contributed PHP18 billion in income, with over 1,000MW in development across wind, solar, hydro, geothermal, and energy storage
• UnionBank, now fully integrated with Citi’s consumer portfolio, recorded a 32% increase in income
• Aboitiz Foods and CCEAP delivered exceptional results with PHP5.9 billion in combined contributions, fueled by strategic pricing and improved formulations
• Aboitiz Land remains agile, focusing on high-demand regions outside Metro Manila and sustaining momentum despite lower asset monetization gains
• Our 40% stake in Coca-Cola Euro-Pacific Aboitiz Philippines and entry into the LNG sector through a 40% investment in Chromite Gas Holdings
• Aboitiz InfraCapital secured long-term concessions for Laguindingan and Bohol airports and had full commercial launch of Apo Agua

Moving forward with our year of Being the Philippines’ first techglomerate, Aboitiz Data Innovation is harnessing artificial intelligence and data science to unlock value and enable smarter business decisions while we strengthen enterprise risk culture through a new risk management microsite and capability-building programs.

With AEV’s diversification strategy on track, Aboitiz expressed excitement about the Group’s growing footprint in the consumer goods, banking and infrastructure.

“Looking to 2025, we see even more opportunities to create value for our shareholders and contribute to national development,” he said.

In closing, SMA thanked Justo Ortiz, outgoing AEV Director and former UnionBank Chairman, and welcomed Miguel Aboitiz as new AEV Director. In addition to various leadership roles in the Aboitiz Group, Miguel also previously served in the AboitizPower Board.

Following the ASM, AEV moves ahead with a PHP105 billion capex plan for 2025, of which as substantial portion—PHP78 billion—is being allocated to Power and reinforcing expansion of our renewable energy pipeline. This aligns with the company’s long-term vision of accelerating the country’s transition to clean and sustainable energy sources.

Infrastructure is next with a PHP16 billion to fund major projects such as the expansion of Aboitiz InfraCapital’s Economic Estates and ongoing telecommunications tower acquisitions. These investments aim to bolster industrial growth, improve connectivity, and create more opportunities for businesses and communities.

The balance of the budget goes to key initiatives across the Group, including enhancements to UnionBank’s digital infrastructure to strengthen financial inclusion and banking efficiency. Aboitiz Foods segment will also see investments in refurbishing swine farms and developing greenfield R&D farms to drive innovation and ensure food security. Additionally, a portion of the capex will be used for business maintenance and operational improvements across various sectors.

“This capex investment reflects our strong confidence in the Philippine economy and our unwavering commitment to nation-building,” said Aboitiz Group President and CEO Sabin Aboitiz. “By strategically allocating resources to energy, infrastructure, financial services, and food security, we are laying the foundation for sustainable progress and long-term value creation.”

As AEV looks ahead to 2025, its aggressive investment strategy reinforces its role as a key driver of the country’s economic transformation, ensuring that industries, businesses, and communities continue to thrive in a rapidly evolving landscape.

Learn more about the Group's 2024 operational and financial performance in the 2024 Aboitiz Integrated Report. Download here or click the image below.