Aboitiz Equity Ventures, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 15, 2023 at 06:00 am IST
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Aboitiz Equity Ventures, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was PHP 73,937.35 million compared to PHP 80,858.19 million a year ago. Net income was PHP 7,564.94 million compared to PHP 9,616.22 million a year ago. Basic earnings per share from continuing operations was PHP 1.34 compared to PHP 1.69 a year ago. Diluted earnings per share from continuing operations was PHP 1.34 compared to PHP 1.69 a year ago.
For the nine months, sales was PHP 232,551.68 million compared to PHP 216,656.94 million a year ago. Net income was PHP 18,033.66 million compared to PHP 21,364.91 million a year ago. Basic earnings per share from continuing operations was PHP 3.2 compared to PHP 3.79 a year ago. Diluted earnings per share from continuing operations was PHP 3.2 compared to PHP 3.79 a year ago.
Aboitiz Equity Ventures, Inc. is a holding and management company. The Company and its subsidiaries are engaged in various business activities mainly in the Philippines, including power generation, retail electricity supply and power distribution, food manufacturing, banking and financial services, real estate development, and infrastructure. Its segments include power segment, which is engaged in power generation and sale of electricity; financial services segment, which is engaged in banking and money remittance operations; food manufacturing segment, which is engaged in the production of flour and feeds and swine breeding; real estate segment, which is engaged in real property development for sale and lease; infrastructure segment, which is engaged in the production of cement and other building materials and in the supply of treated bulk water; and the parent company and others include the operations of the Company and the service provider subsidiaries that cater to the Group.