Full Year 2020 Manila Electric Co Earnings Call Transcript
(technical difficulty)
was at PHP 275.3 billion in -- for the year, 14% lower than 2019. Electricity revenues dropped 7% to PHP 267.9 billion, reflecting both the reduction in volume as well as the lower purchased power cost. Distribution revenues is at 8% lower at PHP 60.6 billion compared with 2019.
Our total costs and expenses for 2020 amounted to PHP 254.3 billion, 11% lower than 2019. Purchased power cost, which is the largest component in total cost and expenses, was 15% lower, reflecting also the movement in past due charge. OpEx is at PHP 25.8 billion, 5% lower than 2019. CapEx for the year totaled PHP 20.8 billion, 3% higher than 2019 despite the challenges from quarantine restrictions.
Our total interest-bearing debt is at PHP 40.1 billion, 3% lower compared with the PHP 41.3 billion in 2019. Our subsidiaries contributed to our bottom line with the biggest amount coming from Meralco PowerGen with San Buenaventura. Their contribution [improved to 500%].
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
