Aboitiz Equity Ventures Inc. · PSE:AEV
Aboitiz Equity Ventures — Investor Presentation (September 2025)
39 slides from Aboitiz Equity Ventures's investor presentation, September 2025
Slide 1: Investor Presentation
Investor Presentation Sep 2025 Aboitiz Equity Ventures
Slide 2: Aboitiz Group at a glance
Aboitiz Group at a glance HOLDING COMPANY Listed 53% 50% 100% POWER BANKING FOOD AND BEVERAGE INFRASTRUCTURE PROPERTY Listed Listed 100% DEVELOPMENT 100% FY24 Equity Investment FY24 Equity Investment FY24 Equity Investment FY24 Equity Investment PHP 32b PHP 49b PHP 14b PHP 108b 45% FY24 Equity Inves
Slide 3: Key milestones and acquisitions
Key milestones and acquisitions Sep 2021 Jul 2014 Sep 2018 AEV and ACO sold 25% AboitizFoods acquired Dec 2016 AboitizFoods and 2% of their stakes Dec 2022 70% of Vinh Hoan Feeds AP acquired 66% of acquired 75% of in AP to JERA for AIC acquired MCIA for PHP25b (1st off shore investment) GMEC and 40%
Slide 4: Key milestones and acquisitions
Key milestones and acquisitions Feb 2024 Sep 2024 Jul 2025 Acquired 40% of CCEAP for AIC was awarded the 30- Thunder Consortium was the ~PHP40b year Laguindingan Airport highest bidder for CBK. Concession Mar 2024 2024 2025 Jul 2025 AP announced plans to acquire 40% of GIP announces plans to Chromit
Slide 5: Diversification strategy
Diversification strategy The Aboitiz Group targets to raise beneficial EBITDA contributions from its non-power subsidiaries to 50% by 2030. 2020 2024 2030 Real Estate, 2% Real Estate, 1% Infra, Infra, 5% 7% Food, 12% Food and Beverage, Banking , 22% Power, Non- Power, 14% Power, Power, 50% 50% 60% 6
Slide 6: Snapshot of AEV’s businesses
Snapshot of AEV’s businesses • NIAT contribution to • NIAT contribution to • AboitizFoods’ and • AEV’s share in AIC’s • AEV’s share in AEV fell to PHP6.9b in AEV declined to CCEAP’s combined loss reached PHP5m Alands’s loss 1H25, from PHP9.1b in PHP1.6b in 1H25, NIAT contribution to in 1H25. Its EBI
Slide 7: AEV has a strong financial track record
AEV has a strong financial track record The Group’s dynamic but well-balanced portfolio of assets enable AEV to deliver stable beneficial EBITDA and core NIAT despite changes Beneficial EBITDA Core NIAT 64,492 58,671 49,228 48,907 44,275 26,782 25,512 20,475 22,120 30,211 15,911 8,481 FY20 FY21 FY22
Slide 8: Balance sheet remains primed for expansions
Balance sheet remains primed for expansions Growth in consolidated asset base is attributable to ongoing expansions in Power and the full transfer of ownership of MCIA in October 2024. PHPm CONSOLIDATED PHPm PARENT LEVEL 31 Dec 2024 30 Jun 2025 31 Dec 2024 30 Jun 2025 Cash and Cash Equivalents 81,79
Slide 9: Parent level debt is predominantly PHP-denominated, fully fixed and long-term in nature
Parent level debt is predominantly PHP-denominated, fully fixed and long-term in nature AEV’s disciplined management of balance sheet and debt puts it in a strategic position to pursue opportunistic expansion plans and M&A. Parent-level Debt maturity profile PHPb Interest rate 23.1 profile 11.6 14.6
Slide 10: Consistent dividend payout
Consistent dividend payout Our strong core operations enabled us to pay out a higher dividend of PHP1.54/sh, which translates to a dividend yield of 4.6%. Dividends per share 1.80 5.00% 4.64% PHP/sh 1.60 4.50% 4.00% 1.40 3.50% 1.20 2.86% 2.63% 2.72% 3.00% 1.00 2.13% 2.50% 0.80 1.62 1.54 1.47 1.40 2.
Slide 11: Subsidiary Level Updates
SUBSIDIARY LEVEL UPDATES itiz | sta} et2028
Slide 12: Group beneficial EBITDA up by 4% YoY
CONSOLIDATED Group beneficial EBITDA up by 4% YoY Higher contributions from the Food and Beverage and Infrastructure segments, driven by improving scale, softer commodity prices, and the full contribution of MCIA, drove EBITDA higher. Beneficial EBITDA PHPb Power accounted for 61% of AEV’s beneficia
Slide 13: NIAT declined by 27% YoY
CONSOLIDATED NIAT declined by 27% YoY Higher depreciation and interest expense from the Power and Infra segments and provisions dragged 1H25 NIAT. NIAT PHPm 50,000 43,223 45,000 45,000 9,405 39,925 11,314 40,000 40,000 35,000 35,000 7,380 30,000 30,000 8,608 15,039 25,000 25,000 11,522 20,000 20,000
Slide 14: UnionBank’s financial highlights
UNIONBANK Strictly private and confidential UnionBank’s financial highlights Strong presence in the retail segment drives net interest income growth. Net interest income NIAT Includes PHP14b in provisions, which mostly are from UBP’s exposure to a specific corporate account. 58.0 52.0 38.9 29.8 31.3
Slide 15: Strong revenue underpinned by customer growth & NIM expansion
UNIONBANK Strictly private and confidential Strong revenue underpinned by customer growth & NIM expansion Customer Growth Net Interest Margin (in #, Mn) 18.0 6.4% 17.3 6.0% C AGR 16.5 5.5% 5.7% yr 2 5% 4 13.9 4.8% 61 4.5% 4.6% 11.8 9% 4.4% bps Industry * 8.9 7.1 2020 2021 2022 2023 2024 1H24 1H25 20
Slide 16: 1H25 net income reached PHP3.3b
UNIONBANK Strictly private and confidential 1H25 net income reached PHP3.3b UnionBank’s strong focus on the consumer segment continues to drive strong topline growth Net income is down 36% YoY, mainly due to a one-time, tax-related write-off and other front-loaded costs Excluding the impact of these
Slide 17: Net interest income rose by 14%, driven by wider margins
UNIONBANK Strictly private and confidential Net interest income rose by 14%, driven by wider margins Net Interest Income (in PHP, Bn) Net Interest Margin YoY Cost NIM Yield 14% YoY 31.3 8.5% 8.6% 8.6% 8.6% 8.5% 6bps 27.5 5.7% 5.9% 6.0% 6.3% 6.4% 61bps 2.8% 2.8% 2.6% 2.2% 2.1% 67bps 3% QoQ 1H24 9M24
Slide 18: Loan growth is driven by credit cards and personal loans
UNIONBANK Strictly private and confidential Loan growth is driven by credit cards and personal loans Gross Loans, OSB Loan Mix (in PHP, Bn) Industry’s Consumer Loans ~ 21% Based on Q1-25 BSP Data Institutional Retail (Parent) CSB, UD, Other Subs Cards, 22% 528 527 532 3% 519 521 Institutional Consum
Slide 19: Steady Growth in CASA
UNIONBANK Strictly private and confidential Steady Growth in CASA Total Deposits (Consolidated), OSB CASA Deposits (Consolidated), OSB (in PHP, Bn) (in PHP, Bn) CASA CASA to Deposit CASA High-Cost YoY 684 683 700 66% 66% 70% 666 676 2% 64% 64% 65% 653 600 60% 230 238 - 500 229 238 233 4% YoY 50% 447
Slide 20: Growth in OPEX due to volume and continued infrastructure Investments
UNIONBANK Strictly private and confidential Growth in OPEX due to volume and continued infrastructure Investments Operating Expense Cost-to-income Ratio (in PHP, Bn) 8% 23.4 21.3 3% QoQ 59% 59% 59% 59% 57% 11.5 11.5 11.8 11.2 10.5 2Q24 3Q24 4Q24 1Q25 2Q25 1H24 1H25 1H24 9M24 FY24 3M25 1H25 Quarter-t
Slide 21: Credit cost rose year-on-year but is expected to normalize
UNIONBANK Strictly private and confidential Credit cost rose year-on-year but is expected to normalize Parent Others Parent Consumer CSB & Other Subs UnionDigital 94bps 4.3% 0.4% 3.6% 3.4% 0.5% 1.0% 0.2% 3.0% 2.0% 0.4% 0.2% FY24 1H25 FY25E Projected 21
Slide 22: Sufficient Capital Ratios to Support Growth
UNIONBANK Strictly private and confidential Sufficient Capital Ratios to Support Growth Capital Adequacy Ratio Group Common Equity Tier 1 Capital Ratio Common Equity Tier 1 Capital Ratio (CAR) Group (CET1) Parent (CET1) 17.3% 16.8% 16.6% 15.6% 15.8% 15.6% 15.1% 14.9% 14.9% 15.5% 14.8% 14.7% 14.6% 14
Slide 23: AboitizFoods’ financial highlights
AboitizFoods AboitizFoods’ financial highlights Earnings recovery is mainly driven by softening commodity prices. EBITDA NIAT EBITDA, at segment level PHPb FY20 FY21 FY22 FY23 FY24 1H25 7.8 Agribusiness 4.7 3.2 3.6 3.8 5.8 2.8 Food & Nutrition 1.3 1.6 0.7 -0.1 1.7 1.3 Others 0.0 0.2 0.3 737 0.3 0.2
Slide 24: Brand
Brand Divisions Producer Brand Categories Category/ Product Brands AboitizFoods AboitizFoods SS i qbaga piliico GS ES FREER putiico mitico FARMS BRAND Livestoric Livestoric Feed Safety Dog Food Hard Wheat Live Hogs Poultry Poultry Immunity Cat Food Soft Wheat Carcass Aqua Aqua Digestibility Treats S
Slide 25: Farms, Trading, and Agribusiness fuel 1H25 volume growth
AboitizFoods Farms, Trading, and Agribusiness fuel 1H25 volume growth Volume grew by 9% YoY in 1H25. This was led by Farms, Trading, and Agribusiness, which benefitted from strong demand across all markets, except in Malaysia. Despite the volume growth, consolidated revenue rose a modest 2% YoY, ref
Slide 26: EBITDA growth driven by margin improvement
AboitizFoods EBITDA growth driven by margin improvement EBITDA rose by 23% YoY to PHP4.3B in 1H25 due to a 173bps improvement in margins. This was largely due to the significant YoY decline in key raw material prices, such as wheat, soybean meal, and corn. Notably, the Meats segment turned a profit
Slide 27: NIAT growth backed by improved operations and lower financing costs
AboitizFoods NIAT growth backed by improved operations and lower financing costs The EBITDA growth, combined with a 27% drop in interest expense, translated to a 55% YoY increase in NIAT to PHP2.1B in 1H25. All divisions contributed to the uplift, with Farms and Trading turning profitable after loss
Slide 28: AboitizLand’s financial highlights
AboitizLand AboitizLand’s financial highlights Aland is strategically moderating its expansion in response to the domestic residential sector’s downcycle, positioning itself for stronger growth once market conditions improve. 2.6 EBITDA NIAT 2.1 1.4 1.1 1.0 1.0 0.9 0.9 0.7 0.3 0.1 FY20 FY21 FY22 FY2
Slide 29: Revenue impacted by strategic clean-up and project maturity
AboitizLand Revenue impacted by strategic clean-up and project maturity Revenue recognition was impacted by (i) higher forfeitures driven by the removal of non-performing accounts; (ii) natural inventory tapering as projects mature, (iii) fewer upfront payment sales, and (iv) lower construction-base
Slide 30: Revenue decline translated to a net loss in 1H25
AboitizLand Revenue decline translated to a net loss in 1H25 Revenues generated in 1H25 were insufficient to cover costs, resulting in a net loss. Profitability is expected to improve in the second half of the year as sales and construction activity start to contribute more meaningfully to revenue.
Slide 31: Inventory tapering as projects conclude amid strategic shift
AboitizLand Inventory tapering as projects conclude amid strategic shift 1H25 reservation sales declined as a result of the strategic shift to higher-quality sales and the natural tapering of inventory in mid-market and high-end segments, with projects nearing completion and fewer units available Yo
Slide 32: Leveraging on AIC’s economic estates for next wave of residential development
AboitizLand Leveraging on AIC’s economic estates for next wave of residential development With inventory in ongoing projects tapering, focus shifts to launching new residential developments within and around existing Economic Estates where land is already secured. 9 ONGOING PROJECTS Central Luzon So
Slide 33: Aboitiz InfraCapital’s financial highlights
Aboitiz InfraCapital Aboitiz InfraCapital’s financial highlights Beneficial Growth is driven by economic estates and airport segments. EBITDA NIAT EBITDA, at segment level PHPb FY22 FY23 FY24 1H25 Economic Estates 1.8 2.7 2.4 0.4 Airports -0.8 2.1 2.5 1.4 Digital Infra 0.0 0.2 0.8 0.4 Water 0.1 0.1
Slide 34: AIC continues to grow across key infrastructure sectors
AIC continues to grow across key infrastructure sectors 330k Jun’25 Households served Land Area Jobs Created Locators 8.2 MLD 250+ 300 MLD Demand 2,000 has 100K+ 250 +1% YoY Customers Includes locators, commercial accounts, Peak Distribution +9% YoY 90 as of Jun’25 as of Jun’25 as of Jun’25 and bulk
Slide 35: All segments delivered operational growth
Aboitiz InfraCapital All segments delivered operational growth Revenue grew by 79% YoY in 1H25, marked by growths across the Airports, Water, Digital Infrastructure, and Economic Estate (EE) segments. Revenue PHPm 1H24 1H25 YoY Remarks PHPm AIC assumed full ownership of MCIA on Oct 2024 (from 33% pr
Slide 36: Beneficial EBITDA reached PHP2.4b in 1H25
Aboitiz InfraCapital Beneficial EBITDA reached PHP2.4b in 1H25 EBITDA growth aligned with revenue momentum, with Airports serving as the primary growth driver. Uplift due to full EBITDA growth operations of Apo EBITDA Agua which started attributed to ongoing tower PHPm only in Feb 2024, expansion Re
Slide 37: Increased debt availments for investments
Aboitiz InfraCapital Increased debt availments for investments Revenue and EBITDA growth offset by higher financing costs from capital structure optimization. NIAT Reflects higher PHPm interest expense from increased debt as of 1H25 vs as of 1H24 200 150 41 100 86 59 100 50 -65 - - -50 Economic Econ
Slide 38: Coca Cola Europacific Aboitiz Philippines
CCEAP Coca Cola Europacific Aboitiz Philippines CCEAP’s domestic market leadership, strong product pipeline and established distribution channels continue to fuel growth. 75% market share non-alcoholic sparkling beverage segment • AEV financially closed the acquisition of its 40% stake in CCEAP on F
Slide 39: aboitiz |.) er2025
aboitiz |.) er2025 Together we are building the Philippines’ first techglomerate
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