Manila Electric Co (OTCPK:MERVF)
$ 5.35 0 (0%) Market Cap: 9.19 Bil Enterprise Value: 9.41 Bil PE Ratio: 12.44 PB Ratio: 4.06 GF Score: 85/100
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Q2 2024 Manila Electric Co Earnings Call Transcript

Jul 29, 2024 / 07:30AM GMT
Release Date Price: $5.35
Operator

(technical difficulty) (inaudible) Froilan Savet, FVP and Head of Networks, and (inaudible) SVP and Head of Regulatory Affairs (inaudible) (technical difficulty) finally, we would conclude the presentation, a few words from our Chairman and CEO. At this point, I would like to turn the floor now to our Chief Finance Officer, Ms. Betty Siy-Yap for the financial results.

Betty Siy;Yap
Manila Electric Co - Chief Financial Officer, Senior Vice President, Chief Risk Officer

(inaudible) consolidated core net income or CCNI in the first six months of 2024 increased by 21% to PHP23.2 billion from PHP19.2 billion in the same period last year, driven by higher sales volume of the distribution utility, higher power, higher contributions from retail, electricity business and higher plant availability of power generation in the second quarter of the year.

Consolidated reported income meanwhile rose by 26% to PHP22.4 billion from PHP17.9 billion, while core EBITDA increased by 20% from PHP33.2 billion to PHP39.8 billion this year. The gap between

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