FPH / First Philippine Holdings & Affiliates

[drbubb]

FPH / First Philippine Holdings & Affiliates

FPH : All: FPH-Tlt +> 2013: 2020: 6/'22: 10d / 2.14.23 : fgen-18.26, fph-62.75= Ratio: 29.1%.               > FP

2.14.23 : fgen-18.26, fph-62.75= Ratio: 29.1%.

2020: 6/'22:

FPH-etc> 2013:

FPH : All: vs-PSEI:

==== under LPZ / Lopez Holdings:

First Philippine Holdings Corporation (FPH) is a management and investment company whose major business is power generation and distribution, with strategic initiatives in manufacturing and property development. FPH is a member of the Lopez Group of Companies.

Its power generation subsidiary, First Gen Corporation (First Gen), is a renewable energy producer, with power plants that use geothermal, hydro, and natural gas for fuel. Today, it has a total installed capacity of 2,832.6 MW, or 18.2% of the country's total installed capacity. First Gen manages the world's second largest geothermal power producer, Energy Development Corporation, which searches for indigenous, low-carbon energy alternatives.

FPH's manufacturing subsidiary, First Philippine Electric Corporation (First Philec), operates the country's first large-scale silicon wafer-slicing facility called First Philec Solar Corporation (FPSC), which supplies some of the world's photovoltaic companies. FPSC is a joint venture of First Philec and SunPower Corporation, in the solar industry.

In property development, FPH expands its reach through Rockwell Land Corporation (Rockwell Land) and First Philippine Industrial Park (FPIP).

• Energy
  • FGEN / First Gen Corporation
  • Energy Development Corporation
  • FP Island Energy Corporation
• Property
  • ROCK / Rockwell Land Corporation
  • First Philippine Industrial Park
• Manufacturing
  • First Philippine Electric Corporation
• Construction and Energy
  • First Balfour, Inc.
• Education
  • FIRST Industrial Science and Technology School
• Healthcare
  • Asian Eye Institute
  • Pi Health, Inc.

Stock 2.14.23 BkVl: %BV : PER : Yield: ShOS : MCap: %fph DivsT : D-fp
LPZ : P3.70: 14.33: 25.8%: 4.90: 1.35% 4.54 B: 16.8B
FPH : 62.75: 239.2: 26.2%: 2.73: 3.51% 473 M: 29.7B 100.% 1.04 B: 209%
FGEN 18.28: 34.57: 52.9%: 5.38: 4.21% 3.61 B: 66.0B 67.8% 2.78B: 1.88B
ROCK: 1.37 : P3.81: 36.0%: 3.80: 3.92% 6.17 B: 8.45B 86.5% 331M: 287M
=====.                  FPH receives: 7.34% ====: 74.5B>50.B: 3.09B: 2.17B
Compare: AEV owns 52.0% AP
AEV: 54.75: 43.46: 126.%: 10.6: 2.86% 5.63 B: 308.B 100.% 8.82B: 62.9%
AP   : 39.85: 20.11 : 198.%: 11.9 : 3.64% 7.36 B: 293.B 52.0% 10.7B: 5.55B
=====.                 AEV receives: 1.80%  ====: ====>152B
====

[drbubb]

Compare .. Aboitiz Group (AEV) and Lopez Group (FPH)

FGEN, etc... from 1/'13 : 10yr: 5yr: 2yr: Ytd: 10d/ ap-x, aev-x, fgen-18.28, fph-62.75

FGEN : All:

Stock 2.14.23 BkVl: %BV : PER : Yield: ShOS : MCap: %fph DivsT : D-fp
LPZ : P3.70: 14.33: 25.8%: 4.90: 1.35% 4.54 B: 16.8B
FPH : 62.75: 239.2: 26.2%: 2.73: 3.51% 473 M: 29.7B 100.% 1.04 B: 209%
FGEN 18.28: 34.57: 52.9%: 5.38: 4.21% 3.61 B: 66.0B 67.8% 2.78B: 1.88B
ROCK: 1.37 : P3.81: 36.0%: 3.80: 3.92% 6.17 B: 8.45B 86.5% 331M: 287M
=====.                  FPH receives: 7.34% ====: 74.5B>50.B: 3.09B: 2.17B
Compare: AEV owns 52.0% AP
AEV : 54.75: 43.46: 126.%: 10.6: 2.86% 5.63 B: 308.B 100.% 8.82B: 62.9%
AP   : 39.85: 20.11 : 198.%: 11.9 : 3.64% 7.36 B: 293.B 52.0% 10.7B: 5.55B
=====.                  AEV receives: 1.80%  ====: ====>152B
=====.                 

FGEN: 3.395= 18.26/ 5.378, 4.22%= 0.77
FGEN: BkVal.: Earns / xPct = Divs.Paid, 2.30E= 4.38%
‘2023: 00.0E:  3.40E/23.5%E 0.80E: jun, .??? : dec, .???
’2022: 00.0E:  3.39E/ 22.7%: 0.770 : jun, 0.35: dec, 0.42
’2021: 00.00:   3.53  / 19.8%: 0.700: jun, 0.30 : nov., 0.40
‘2020: 00.00:  3.45  / 16.2%: 0.560: jun, 0.28 : dec, 0.28
’2019: 00.00:   3.92  / 14.0%: 0.550: may, .55 :
’2018: 00.00:   2.87.  / 13.2%: 0.380: oct. , .35 : +??

FPH  : 278.E : 23.01 = 62.75/ 2.727, 3.51%= 2.20
FPH  : BkVal. : Earns / xPct = Divs.Paid, 2.30E= 4.38%
‘2023: 278.E : 23.0E/ 10.0%E 2.30E: jun, .??? : nov, .???
’2022: 258.E : 22.0E / 10.0%  2.20E: jun,  1.10:  nov, ???
’2021: 239.19: 20.46 / 10.8%: 2.20 :  jun,  1.10 : nov, 1.10
‘2020: 214.88: 19.35 / 10.3%: 2.00 : jun,  1.00: nov, 1.00
’2019: 205.52: 24.53 / 8.15%: 2.00 : may, 1.00: nov, 1.00
’2018: 181.59 : 18.89./ 10.6%: 2.00 : may, 1.00: nov, 1.00

FPH is buying back shares: retiring debt fast

Yr.  OS Shares  ===== yr,E, Value : T.Borrowing:  
2022:  475.0E: - 12.3E -2.52%. 60.6, 0.75B:  
2021 :  487.32: - 17.23, -3.41%  70.1, 1.21 B: 128.0B:  - 6.8B: -8.0B
2020:  504.55: -  4.41, -0.87%.  77.0, 0.34B: 134.8B + 1.8B: +1.5B
2019:  508.96: - 20.14, -3.73%  69.0, 1.39B: 133.0B -17.7B: -19.1B
2018:  539.10 : - 15.11 , -2.73%  64.8, 0.98B: 150.7B  -6.4B: - 7.5B
2017:  554.21:   =================== : 157.1B. -30.0B -33.1B
FPH :  ’23 MktCap : 472.6M x  62.75= 29.66 B*

FGEN: ’23 MktCap : 3,596M x 18.26= 65.66 B*

ROCK: ’23 MktCap : 6,112M x P1.37=  8.37 B

Lopez Holdings Corp. Holds: 257.53M sh, FPH: 54.49%  x P62.75= P 16.16B

FPH - First Phil. Holdings Corp.: share buy-back transactions

Type of Securities: Common Details of Share Buy-Back Transaction(s): Date of Transaction: Dec 6, 2022 Number of Shares Purchased: 4,000,000 Price Per Share: 60.00 Effects on Number of Shares: Outstanding Shares BEFORE: 476,618,944 AFTER: 472,618,944 Treasury Shares BEFORE: 133,030,695 AFTER: 137,030,695 Cumulative Number of Shares Purchased to Date*: 137,030,695 Total Amount Appropriated for the Buy-Back Program: P11.750 Billion

Total Amount of Shares Repurchased: P9,154,991,356.00 * From the date when the share buy-back program commenced.

 

[drbubb]

FPH : All: FPH-etc> 2013: 2020: 6/'22: 10d / 2.14.23 : fgen-18.26, fph-62.75= Ratio: 29.1%

[drbubb]

FGEN - First Gen Corporation

C08512: First Gen press release - 9 mos. Income

"First Gen 9 Months Attributable Recurring Net Income at US$194 Million" vs. US??

First Gen Corporation (First Gen), the Lopez Group's clean and renewable energy provider, reported increased revenues from the sale of electricity in the first nine months of 2022 at US$1,996 million (Php105.2 billion), a 24% positive change of US$390 million (Php27.1 billion) from US$1,606 million (Php78.1 billion) in the previous year. The higher revenues are derived from electricity sales attributed to elevated fuel and Wholesale Electricity Spot Market (WESM) prices.

The natural gas portfolio accounted for 65% of First Gen's total consolidated revenues, while 31% came from Energy Development Corporation's (EDC) geothermal, wind, and solar plants. The remaining 4% balance comes from the hydro plants. The company, however, reported an 8% reduction in recurring net income in the three quarters of 2022 to US$194 million (Php10.2 billion) in comparison to US$211 million (Php10.2 billion) in 2021. The natural gas platform suffered from reduced income as the natural gas plants were affected by higher taxes, interest expenses, and various operational issues at the 420 MW San Gabriel Power Plant and 97 MW Avion Power Plant. It is important to note, however, that on a translated Philippine Peso basis, the US Dollar books of First Gen have benefited from foreign exchange translation gains with the depreciation of the local currency as evidenced by the translated Philippine Peso figures. As a result, First Gen's recurring net income was flat at Ph10.2 billion. "First Gen's third quarter earnings saw EDC make a recovery from higher spot market prices and inflation-adjusted prices for its power purchase agreements. The natural gas platform, however, continues to be beset by fuel supply curtailment from Malampaya that required us to use more costly liquid fuel. The expected commercial operations of our LNG terminal in the second half of 2023 will help address fuel supply security issues." First Gen President and COO Francis Giles B. Puno stated.

 

2nd Shareholder's tender, 2021

Singapore-based group to increase stake in First Gen

Power Philippines News. on September 1, 2021

Philippines Clean Energy Holding Inc. (PCEHI), a subsidiary of Singapore-based Valorous Asia Holdings Pte. Ltd., offered to acquire up to 5.7% of First Gen Corporation’s outstanding common shares at Php33 per share, or a total of Php6.765 billion.

In a disclosure to the Philippine Stock Exchange on Tuesday, First Gen said it received from PCEHI a tender offer report to acquire via a secondary sale from existing shareholders a minimum of 107.9 million issued and outstanding common shares representing three percent.

First Gen also received an offer to buy up to 205 million issued and outstanding common shares, which represents a maximum of 5.7% of its total issued and outstanding common shares at Php33 apiece.

“The bidder is acquiring the tender offer shares for investment purposes. The bidder intends to continuously review its investment,” the tender offer report read.

Valorous, which currently owns 12.59% of First Gen, is led by KKR Asia Pacific Infrastructure Holdings Pte. Ltd. KKR has invested more than $1 billion in the Philippines since 2018.

Based on the company’s pubic ownership report as of June 30, the Lopezes’ First Philippine Holdings Corporation owns majority of First Gen at 67.8%. Public ownership is at 18.74%, while company officers and directors own 0.86%.

The tender offer is expected to commence this Wednesday (September 1) and will run until 12NN on September 29. The offer will allow First Gen shareholders to sell their common shares and cash in on their investments.

Valorous, through PCEHI, is expected to own at most 657.9 million common shares, or around 18.29% of First Gen’s issued and outstanding common shares upon the tender offer’s completion.

[drbubb]

First Pacific Group vs. FPH, etc

FPAFY-etc ... All: 10yr: 5yr / / PSEI-6.788 = FPAFY-$1.74 (x54=xx, xx%), FPH-62.90 (0.93%)

xx

First Pacific’s investment portfolio is centered on our core industries and markets in PT Indofood Sukses Makmur Tbk (“Indofood”), PLDT Inc. (“PLDT”) and Metro Pacific Investments Corporation (“MPIC”). Indofood is the largest vertically integrated food company in Indonesia and producer of the global instant noodle brand Indomie while PLDT is the dominant integrated telecommunications and digital services provider in the Philippines with the largest fixed broadband network and the largest and most modern wireless network in the country. MPIC is a leading infrastructure investment management and holding company in the Philippines, with holdings in the country’s largest electricity distributor, toll road operator, water distributor, and hospital group. MPIC also holds investment in the storage of petroleum products, real estate and dairy.

First Pacific also holds investments in PacificLight Power Pte. Ltd. (“PLP”), Philex Mining Corporation (“Philex”), PXP Energy Corporation (“PXP”) and Roxas Holdings, Inc. (“RHI”). PLP is the operator of one of Singapore’s most efficient gas-fired power plants. Philex is one of the largest metal mining companies in the Philippines, producing gold, copper and silver. PXP is an upstream oil and gas company with a number of service contracts in the Philippines, and RHI produces sugar and bioethanol in the Philippines.

Listed in Hong Kong, First Pacific’s shares are also available for trading in the United States through American Depositary Receipts.

As at 30 August 2022, First Pacific’s economic interest in Indofood is 50.1%, in PLDT 25.6%, in MPIC 45.2%, in FPM Power Holdings Limited (“FPM Power”) 68.6%⁽¹⁾ , in Philex 31.2%⁽²⁾, in PXP 35.7%⁽²⁾⁽³⁾,  and in FP Natural Resources Limited (“FP Natural Resources”) 80.8%⁽⁴⁾.

> source

[drbubb]

FPH showing good metrics... PER:2.05x. BkValue: 22.4% of 280.89, Div. 2.20, Yield: 3.49%

FPH (63.00) vs. 10.09% of PSEI (6,242), 320% of FGEN (19.66)

From 9/2013: 10yr: 5yr: 2yr: Ytd: 10d

FPH. 2000 : 2000:

yrE :

BkV :

Psei

 

[drbubb]

ROCK EXPANDING

LPZ - Rock : xx

 

C04633: Rockwell Land press release - 1

"ROCKWELL LAND EXPANDS FOOTPRINT IN 3 CITIES WITH 200 HECTARES OF DEVELOPMENT"

Rockwell Land Corporation (PSE: ROCK), at its Annual Stockholders' Meeting held on June 14, 2023, announced its expansion plans of almost 200 hectares of development in Cebu, Bulacan and Batangas. The company is set to launch IPI Center by Rockwell, its third project in Cebu this year. It is a 2.85-hectare mixed use community featuring Rockwell Workspaces and a unique retail concept.

"We are looking forward to our newest Cebu project with the Wong and Castillo families of International Pharmaceuticals Inc., which is located in the heart of the city. We'll first offer residential units through Lincoln, inspired by the well-received Proscenium tower in Makati, and will soon be complemented by a retail area that we envision will excite the market," says Rockwell Land Chairman and CEO, Nestor Padilla.

Making its mark in a new thriving city, Rockwell will develop a new horizontal neighborhood in San Jose, Bulacan. The 100-hectare project in Bulacan will be designed to build a hillside escape and wellness retreat for its future residents. The company will also develop a future project in Lian, Batangas poised to be its first premium horizontal beach community in the area. "We are excited about our new vast 85-hectare beach property. It has 700 meters of coastline and clear waters, spread across 2 natural coves," adds Padilla. In 2024, Rockwell expects to launch its first phase of residential lots.

Rockwell reported an increase in its Net Income After Tax (NIAT) to Parent of 40% in 2022 compared to previous year, and expects to reach pre-pandemic NIAT levels by year end.