ABSTRACT
Fernando Zobel de Ayala, chairman of the board, and Antonino Aquino, president of the Manila Water company looked back with considerable satisfaction on what their management and staff had been able to accomplish in a short nine years. Manila Water Company was not only hitting all the growth milestones, it was also quite profitable (see Exhibit 5.3.1 for Manila Water’s income statement over the years). For 2006, Manila Water posted gross revenues of P6.8 billion (US $125 million) and a net income of more than P2.4 billion ($45 million). 1 Financial Highlights (in million pesos<xref ref-type="fn" rid="fntable_box5_3_1_1"> <sup>1</sup> </xref> except per-share data)
|
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
|
|---|---|---|---|---|---|---|
|
Operating Results |
||||||
|
Revenues |
1,664 |
2,683 |
3,778 |
4,291 |
5,763 |
6,785 |
|
EBITDA 2 |
304 |
930 |
1,814 |
2,023 |
2,955 |
3,507 |
|
Net Income |
161 |
558 |
1,151 |
1,332 |
2,011 |
2,394 |
|
Resources at Year End |
||||||
|
Total Assets |
5,967 |
7,846 |
9,683 |
12,743 |
17,929 |
24,263 |
|
Net Debt |
1,218 |
2,080 |
2,714 |
4,021 |
1,513 |
1,425 |
|
Stockholders’ Equity |
2,486 |
2,738 |
3,387 |
5,121 |
10,123 |
11,874 |
|
Stockholders’ Data |
||||||
|
Earnings per Share |
0.06 |
0.28 |
0.60 |
0.85 |
0.94 |
1.05 |
|
Cash Dividends Paid |
– |
– |
110 |
230 |
333 |
507 |
|
Cash Dividends per Share 3 |
– |
– |
0.06 |
0.10 |
0.14 |
0.21 |
The average exchange rate during the 2001–2006 timeframe was $1 = 55 pesos.
Earnings before interest, tax, depreciation and amortization
Adjusted for the effect of IPO shares Source: Manila Water 2005 Annual Report
