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4-Traders Homepage  >  Equities  >  PHILIPPINE STOCK EXCHANGE, INC.  >  Ayala Corporation    AC   PHY0486V1154

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Ayala : AC Energy tapped to supply electricity to FBDC buildings

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06/22/2017 | 01:54pm CEST

FORT Bonifacio Development Corp. (FBDC), the developer of Bonifacio Global City (BGC), has tapped AC Energy Holdings Inc., the power arm of Ayala Corp., to supply electricity to its buildings.

A retail electricity supply (RES) agreement was signed between the two companies involving eight of FBDC's buildings in BGC.

The electricity supply will include Certified Emission Reductions (CER) certificates sourced from renewable-energy plants, to ensure that electricity purchased by FBDC is carbon neutral.

'This partnership with AC Energy is part of our commitment to maintain a progressive yet environmentally sustainable community. This is just the first eight buildings. We intend to do the same for our future developments and hope to encourage other BGC locators to follow suit,' BGC Head of Commercial Operations Manny Blas said.

AC Energy's goal is to grow its portfolio of conventional and renewable energy to 2,000 megawatts (MW) by 2020.

AC Energy President John Eric Francia earlier said the company is targeting to supply 50 MW in three years under its retail-energy business.

'We're not going to be big in the near term. This is just to get to know the business. We want to start serving some key customers. It will be on an opportunistic, case-to-case basis,' Francia said.

AC Energy will complement the existing RES firms of the Ayala Group under Ayala Land Inc.

Ayala Land's RES-Direct Power and Ecozone Power Management Inc. - focuses on its own captive market.

Francia said AC Energy's RES business will focus on the broader market outside the Ayala Group.

(c) 2017 Business Mirror Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ( PHP)
Sales 2017 227 526 M
EBIT 2017 44 284 M
Net income 2017 26 357 M
Debt 2017 231 737 M
Yield 2017 0,65%
P/E ratio 2017 19,90
P/E ratio 2018 17,20
EV / Sales 2017 3,31x
EV / Sales 2018 3,02x
Capitalization 522 341 M
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Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 929  PHP
Spread / Average Target 10%
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Managers
NameTitle
Jaime Augusto Zobel de Ayala Executive Chairman & Chief Executive Officer
Fernando Zobel de Ayala Vice Chairman, President & Chief Operating Officer
Jose Teodoro K. Limcaoco CFO, Chief Risk Officer, Group Head-Finance & MD
Delfin Lapus Lazaro Non-Executive Director
Xavier Pardo de Tavera Loinaz Independent Director
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