2015 Annual Report

Business Review

Key Financial Figures (in PHP Millions)


Revenues increased by PHP260.0 million to PHP1,885.7 million mainly a result of higher dispatch, as well as the absence of a PHP249.6 million revenue adjustment in 2014 from the recomputation of spot prices for the November and December 2013 billings as ordered by the Energy Regulatory Commission (ERC). However, net income was relatively flat at PHP543.2 million in 2015 from PHP540.1 million in 2014 due to the expiration of FG Hydro’s Income Tax Holiday in April 2014.

FG Bukidnon’s revenues for the year 2015 decreased by PHP9.6 million, or 21.5 percent due to lower plant generation and sales volume billed to Cagayan Electric Power and Light Company, Inc. (CEPALCO).

As a result, operating income decreased by PHP8.5 million, or 62.3 percent mainly due to lower electricity sales though partially offset by slightly lower administrative expenses for the year.

FG Bukidnon posted a net income of PHP4.6 million, which was PHP7.6 million or 62.1 percent lower than the previous year’s PHP12.2 million.

 

Operating Statistics

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Key Financial Figures (in PHP Millions)


Revenues increased by PHP260.0 million to PHP1,885.7 million mainly a result of higher dispatch, as well as the absence of a PHP249.6 million revenue adjustment in 2014 from the recomputation of spot prices for the November and December 2013 billings as ordered by the Energy Regulatory Commission (ERC). However, net income was relatively flat at PHP543.2 million in 2015 from PHP540.1 million in 2014 due to the expiration of FG Hydro’s Income Tax Holiday in April 2014.

FG Bukidnon’s revenues for the year 2015 decreased by PHP9.6 million, or 21.5 percent due to lower plant generation and sales volume billed to Cagayan Electric Power and Light Company, Inc. (CEPALCO).

As a result, operating income decreased by PHP8.5 million, or 62.3 percent mainly due to lower electricity sales though partially offset by slightly lower administrative expenses for the year.

FG Bukidnon posted a net income of PHP4.6 million, which was PHP7.6 million or 62.1 percent lower than the previous year’s PHP12.2 million.

 

Operating Statistics

Pages: 1 2 3 4