Aboitiz Power cited by Euromoney

MANILA, Philippines - AboitizPower Corp. (AboitizPower) has been recognized in Euromoney’s Asia’s Best Companies Awards 2010, landing in the top three among 16 companies nominated for the Most Convincing and Coherent Strategy - Philippines category.  Euromoney, a monthly magazine on the world’s financial markets, asked analysts in leading banks and research institutes to nominate their top companies in each of the Asian countries or sectors they covered, bearing in mind market strength, profitability, growth and potential and quality of management and earnings.

“We are extremely proud that such a discriminating group of market observers has recognized us for the coherence of our strategy. It is an undeniable fact that the results we are seeing for AboitizPower is the outcome of not only a well-formulated strategy, but more importantly, a well-executed one,” said AboitizPower president and CEO Erramon Aboitiz. “This honor belongs to the entire team who has turned the strategy into reality,” he added.

Companies from China, India, Singapore, Taiwan, Malaysia, Hong Kong, Korea, Thailand, Japan, and the Philippines, which made it to the Euromoney list, were mostly from the telecommunications and IT sectors. The results are published in the magazine’s January 2011 issue.

AboitizPower had a record year in terms of net income in 2010, shoring in net income of P25 billion as opposed to P5.7 billion in 2009. It was recognized by Asiamoney Magazine as the Philippines’ Large Cap Corporate of the Year for 2010 in its Asia’s Best-Managed Companies awards.

AboitizPower is the holding company for the Aboitiz Group’s investments in power generation, distribution, retail and power services. It is a major producer of Cleanergy, its brand for clean and renewable energy, in the Philippines with several hydroelectric and geothermal assets in its generation portfolio and also has non-renewable power plants located across the country. The company owns distribution utilities that operate in high-growth areas in Luzon, Visayas and Mindanao. For more details, visit: www.abotizpower.com and www.cleanergy.com.ph.