Lopez Holdings

 

Lopez Holdings 9M2012 attributable net income at P6.185 billion

Lopez Holdings Corporation registered P6.185 billion in net income attributable to equity holders of the Parent for the first nine months of 2012. This is 76% higher than the P3.513 million in net income attributable to equity holders of the Parent reported in the 9M2011.

This was primarily due to the 16x year-on-year (YoY) increase in equity in net earnings of associates to P5.307 billion from P305 million, after associate First Philippine Holdings Corporation (FPH) sold a 2.66% stake (30 million shares) in Meralco in January 2012. FPH also booked an additional gain relating to its previous sale of Meralco shares, with the assignment to the FPH group of Rockwell Land shares received as property dividends by buyer Beacon Electric.


Unaudited consolidated revenues increased by 13% YoY to P24.017 billion from P21.229 billion, as associate ABS-CBN Corporation (ABS-CBN) logged in stable numbers in 9M2012, after implementing higher advertising rates beginning February 2012.

On November 5, 2012, Globe Telecom, Inc. announced a tender offer for debt held by Lopez Holdings associate Bayan Telecommunications, Inc. (Bayan), which has been under Court-assisted rehabilitation since 2004.

“While unable to participate in the highly lucrative mobile phone space, Bayan continues to perform well in the data services arena. Its superior customer service quality and targeted managed service offerings make it a preferred player in the very competitive business process outsource sector. It is providing valuable and much-needed services to the market. Although the tender offer only involves Bayan debt, collaborative efforts between Globe Telecom and Bayan bode well for the Philippine telco industry,” said Lopez Holdings president, chief operating officer and chief finance officer Salvador G. Tirona.

As of December 31, 2011, Lopez Holdings held a 60.3% economic interest in ABS-CBN, 46.6% in FPH, and 47.3% of Bayan Telecommunications Holdings Corp., which owns 97% of Bayan.

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Lopez Holdings Corporation 
16/F North Tower, Rockwell Business Center Sheridan, Sheridan St. corner United St., 1550 Bgy. Highway Hills, Mandaluyong City, Philippines

  • Trunkline: (632) 8878 0000
  • Fax: (632) 8878 0000 ext 2009
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