COVER SHEET
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I L l o l P l e l z l ! e l u l 1 ! L l o l 1 ! N ! G I , l o ! R l r l I I G ! A l s l ! A l v l e l N ! u l e l , I I l e ! R ! G l v l l u !G ! o ! N!G I , I P !A j s l 1 !G I ! c l 1 ! r lv l I I I I I I I I I I(Business Address : No. Street City I Town / Province)
ATTY. WILLIAM S. PAMINTUAN 632-8014
Contact Person Company Telephone Number
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SECURITIESAND EXCHANGE COMMISSION SEC FORM 11·C
CURRENT REPORT UNDER SEmlN11 If THE SECURfflES REIUIITIIN CIDE DD SIC RILE 11.21clTHEREUNDERDate of Report: August 3, 2017
SEC dentification Number: PW-102
BIR Tax dentification Code: 000-101-528-000
Name of ssuer as specified in its Charter: Manila Electric Company
Country of ncorporation: Philippines
ndustry Classification: {SEC use only)
Address of principal office: Lopez Building, Ortigas Avenue, Barangay Ugong, Pasig City
ssuer's telephone numbers: 6328014 Area Code: 1605
Former name or former address: Not Applicable
Securities registered pursuant to Sections 18 and 12 of the SRC or Sections 4 and 8 of the RSA:
Number of Shares of
Common Stock Outstanding
1,127,098,705
(As of June 30, 2017)
Debt Securities: Php 18.5 Billion Bonds
Item Number reported: Item 9 (Other Events)
The Company's Board of Directors, in its regular meeting held today, August 3, 2017, approved the following matters:
The Company's Financial and Operating Results for the first half ended June 30, 2017 with comparatives for 2016 (refer to the attached Press release); and
The declaration of total cash dividends of Pesos 8.925 per share to all shareholders of record as at August 30,2017, payable on September 22, 2017. This consists of (i) an interim regular cash dividend of Pesos 4.489 per share or 50% of the first half 2017 CCNI, in line with the Company's dividend policy; and (ii) Pesos 4.436 per share representing special dividends out of retained earnings available for declaration.
SIINITIREConsolidated Core Net Income for the first half of 2017 at Pesos 10.1 billion, 3% lower than in the first half of 2016
Consolidated Reported Net Income for the first semester of 2017 at Pesos 10.5 billion, 2% lower year-on-year
Consolidated revenues of Pesos 141.0 billion for the first six (6) months of 2017, 9% higher year-on-year
Consolidated volume of energy sold for the first half of 2017 was 20,338 GWh, 3% higher than the 19,717 GWh sold in the same period in 2016
Total number of billed customers rose to 6.2 million as at June 30, 2017, reflecting a year-on year growth of more than 4%
Consolidated costs and expenses at Pesos 127.5 billion for the six (6) months ended June 30, 2017, 11% higher compared with Pesos 114.8 billion in 2016
Consolidated EBITDA amounted to Pesos 17.2 billion, down 5% year-on-year, with EBITDA margin at 12% of consolidated revenues
Core earnings per share at Pesos 8.977, Pesos 0.240 lower than in the first half of 2016
Reported earnings per share at Pesos 9.317 compared with Pesos 9.554 in 2016
Interim regular cash dividend of Pesos 4.489 per share and a special dividend of Pesos 4.436 per share, for a total of Pesos 8.925 payable on September 22, 2017
Pursuant to the requirements of the Securities Regulation Code,the issuer has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
MANILA ELECTRIC COMPANY
Issuer
First Vice President
Assistant Corporate Secretary &
Information Disclosure Officer
Date: August 3, 2017
Cc: Disclosure Department Listings and Disclosure Group Philippine Stock Exchange
Issuer Compliance and Disclosure Department Philippine Dealing & Exchange Corp.
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AIERALCO
PRESS RELEASE MANILA ELECTRIC COMPANY
1 H2017 FINANCIAL AND OPERATING RESULTS WITH COMPARATIVES vs. 2016
HIGHLIGHTS
MANILA, PHILIPPINES, 3rd AUGUST 2017 - Manila Electric Company ("Meralco" or the "Company") (PSE: MER) today announced its unaudited financial and operating results for the six months ended June 30, 2017. Consolidated Core Net Income ("CCNI"), which excludes one time, exceptional gains and charges, amounted to Pesos 10.1 billion, 3% lower than Pesos 10.4 billion registered for the first half of 2016. Core Earnings Per Share ("EPS") was Pesos 8.977 while Reported EPS was Pesos 9.317.
Meralco - Manila Electric Company published this content on 03 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 03 August 2017 07:58:06 UTC.
Original documenthttp://www.meralco.com.ph/files/view/08032017_SEC17-C_Results_of_Board_Meeting.pdf
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