Full Year 2019 Manila Electric Co Earnings Call Transcript
(technical difficulty)
A briefing on the 2019 full year financial and operating results. This will be the order of presentation: the financial results by our CFO, Ms. Betty Siy-Yap; Operations by President and CEO, Mr. Ray C. Espinosa; joined by our Head for Networks, Mr. Ron Aperocho; our Head for Customer Retail Services and Corporate Communications, Mr. Victor Genuino; and a report on our sustainability initiatives by Mr. Raymond Ravelo; and a report by Meralco PowerGen from SVP and President and CEO of MGen, Mr. Rogelio Singson.
Please, Ms. Siy-Yap?
Good afternoon, ladies and gentlemen. I'll be presenting the financial highlights for the full year ended December 31, 2019. Our gross revenues grew to PHP 318.3 billion, 5% more than the PHP 304.5 billion in 2018, as a result of higher energy sales volume and higher pass-through generation charges brought about by the increased fuel prices, a weaker peso and
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