Lopez Holdings chairman Amb. Manuel M. LopezAmbassador Manuel M. Lopez (AMML), chairman and chief executive officer of Lopez Holdings Corporation, assured shareholders that investees First Philippine Holdings Corporation (FPH) and ABS-CBN Corporation will “pursue strategies to help build the nation in better ways” as the commercial sector continues to drive energy demand.
At the Lopez Holdings annual stockholders’ meeting, AMML noted that FPH tries to strike a balance between providing the country’s energy requirements and conserving its natural resources; at the same time, it also seeks to empower the people who provide manpower for its endeavors.
ABS-CBN, on the other hand, is making waves in the digital space, further strengthening ties with audiences through its easily accessible content.
“Through our associated companies, we will continue to search for better ways to deliver our commitments to customers. We will choose sustainable ways to produce power; connect with loved ones across our many islands and overseas; and inspire with top quality content that will bring out the best in every Filipino, young or old alike,” AMML said.
Meanwhile, in his report to shareholders, Lopez Holdings president Salvador G. Tirona said the company benefited from the performance of FPH and ABS-CBN, which bucked challenging industry dynamics marked by increased competition and regulation.
Lopez Holdings in 2016 registered P6.557 billion in net income attributable to equity holders of the parent, 6% higher than the P6.191 billion in net income attributable to equity holders of the parent reported in 2015.
According to Tirona, the steady performance of FPH and ABSCBN accounted for the results.
“Lopez Holdings’ total consolidated assets grew to P366.250 billion in 2016 from P358.584 billion in 2015. This figure mainly includes assets of FPH. Debtto-equity ratio slightly improved at 3.07x in 2016 versus 3.53x in 2015. Also, book value per share was up at P13.06 a share at the end of 2016 from a value of P11.88 a share in 2015, "Tirona added.