Financials and Operations

Key Figures

Net Income Attributable to MWC

EBITDA

Key Figures 3

Consolidated Revenue

Capex

Key Figures 2

Revenue by Business

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Revenue by Segment

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Financial Highlights

Manila Water - Consolidated

(in Million Php) FY 2020* FY 2019* FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010
Revenues  21,125 21,647 19,836 18,516 17,712 16,936 16,357 15,926 14,553 12,004 11,013
EBITDA 11,943 12,663 12,639 11,696 11,971 11,670 11,561 11,647 10,718 8,190 7,608
Net Income attributable to MWC 4,500 5,496 6,524 6,147 6,065 5,958 5,813 5,752 5,490 4,266 3,979
Total Assets 156,527 134,602 122,533 102,482 85,479 80,608 74,860 72,858 67,127 60,897 48,621
Long-Term Debt 73,532 56,356 37,526 35,110 25,331 19,961 22,975 24,361 19,806 23,268 14,134
Equity 60,163 55,991 53,621 48,561 44,382 39,719 35,102 30,477 26,488 22,812 19,978

*For both FY 2020 and 2019 periods, the Group has presented as a single amount in its consolidated statements of income representing the post-tax net loss of its discontinued operations in Zamboanga Water and the Healthy Family business division of MWTS. PFRS 5 defines a discontinued operation as a component of an entity that has been disposed of or is classified as held for sale. The termination of Zamboanga Water’s NRWRSA and the closure of the Healthy Family business division falls under this definition.

 

East Zone Concession

(in Million Php) FY 2020* FY 2019 FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010
Revenues 17,104 16,842 16,234 15,072 14,980 14,910 14,882 14,794 13,648 11,703 10,799
EBITDA 10,145 10,527 11,617 10,876 10,837 10,199 10,454 10,671 9,806 5,878 5,689
Net Income 4,666 5,061 6,521 5,923 5,570 4,963 5,149 5,103 5,131 4,217 3,950

*Beginning 2020, the Company reports the financial results of the Parent Company which houses the East Zone Concession

 

Manila Water Philippine Ventures (MWPV) - Consolidated

(in Million Php) FY 2020** FY 2019** FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010
Revenues 4,224 4,686 3,295 3,120 2,454 1,708          
EBITDA 1,319 1,822 2,289 895 1,214 841          
Net Income (480) 450 195 287 564 290          

*Manila Water Philippine Ventures started operations in April 2014

***For both FY 2020 and 2019 periods, the Group has presented as a single amount in its consolidated statements of income representing the post-tax net loss of its discontinued operations in Zamboanga Water and the Healthy Family business division of MWTS. PFRS 5 defines a discontinued operation as a component of an entity that has been disposed of or is classified as held for sale. The termination of Zamboanga Water’s NRWRSA and the closure of the Healthy Family business division falls under this definition.

 

Boracay Water - 80%

(in Million Php) FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010
Revenues 304 675 454 600 514 401 327 267 223 183 149
EBITDA 38 328 167 317 280 181 187 155 115 38 24
Net Income (117) 79 6 142 122 70 96 73 33 21 26

Clark Water - 100%

(in Million Php) FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010
Revenues 428 464 455 459 415 400 383 336 319 278 236
EBITDA 66 189 199 209 200 193 185 168 169 141 114
Net Income (80) 43 80 94 81 117 100 86 86 71 64

Laguna Water - 70%

(in Million Php) FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010
Revenues 1,894 1,703 1,360 1,213 987 828 677 332 190 96 72
EBITDA 1,105 913 636 (13) 495 445 354 200 100 41 23
Net Income 481 409 308 (301) 248 203 165 108 56 21 17

Estate Water - 100%

(in Million Php) FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010
Revenues 753 1,338 724 637 452            
EBITDA

162

 651 230 362 311            
Net Income (76) 355 121 255 217            

*Estate Water started operations in January 2016

 

 

Manila Water Asia Pacific (MWAP) - Consolidated

(in Million Php) FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010
Equity Share in Net Income of Associates 214 654 699 457 369 404 140        
EBITDA (212) 415 421 331 278            
Net Income (371) 172 286 332 278            

*Manila Water Asia Pacific started operations in April 2014

 

Thu Duc Water - 49%

(in Billion VND) FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010
Revenues 360  337  335 330 320 312 331 324 313    
EBITDA 239 220 223 219 212 206 230 226 222    
Net Income 132 109 105 104 100 97 117 112 94    
PFRS (In Million Php) -
Net Income @ 49%		 267 245 255 242 229 215 218 216 165  
 

*Thu Duc Water was acquired in December 2011

 

Kenh Dong Water - 47.35%

(in Billion VND) FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010
Revenues 295 246 221 217 217 204 203 75      
EBITDA 172 131 148 148 149 144 151 56      
Net Income 98 59 74 78 65 50 47 (1)      
PFRS (In Million Php) -
Net Income @ 47%		 164 131 153 148 127 119 112 77      

*Kenh Dong Water started operations in July 2013

 

 

 

Operating Highlights

East Zone Concession

  FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010
Billed Volume (in mcm) 506.4 493.9 503.3 488.4 478.9 461.4 449.0 433.6 427.3 411.6 409.8
Non-Revenue Water 15.5% 10.4% 11.4% 11.6% 10.8% 11.2% 11.3% 11.2% 12.2% 11.2% 11.0%
Billed Connections 1,017,639 1,002,380 986,756 961,663 930,089 976,321 949,230 921,898 896,148 857,981 813,942

 

Manila Water Philippine Ventures (MWPV) - Consolidated

  FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010
Billed Volume (in mcm) 105 97 86 82 71 61          
Billed Connections 209,988  189,068  133,898 116,526 111,741 115,605          

*Manila Water Philippine Ventures started operations in April 2015

 

Boracay Water

  FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010
Billed Volume (in mcm) 3.2 4.8 3.9 5.5 4.9 4.3 4.0 3.6 3.1 2.5 2.1
Non-Revenue Water 21% 9% 14% 23% 13% 21% 17% 14% 14% 23% 29%
Billed Connections 5,351 5,796 5,749 6,267 6,475 6,379 6,125 5,647 5,288 4,736 4,174

Clark Water

  FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010
Billed Volume (in mcm) 13.4 14.5 14.1 14.5 13.4 12.8 11.6 9.8 9.0 7.8 0.8
Non-Revenue Water 6% 7% 6% 4% 5% 4% 5% 8% 12.0% 14.9% 14.4%
Billed Connections 2,067 2,082 2,061 2,050 1,979 1,963 1,978 1,975 1,913 1,886 1,825

Laguna Water

  FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010
Billed Volume (in mcm) 45 44 42 44 39 36 31 11 8 4.9 3.9
Non-Revenue Water 18% 18% 17% 18% 21% 11% 12% 18% 25% 38% 45%
Billed Connections 112,696 111,726 96,534 98,056 96,534 107,263 90,016 66,433 42,343 29,235 18,581

Estate Water

  FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010
Billed Volume (in mcm) 10.5 10.5 8.9 4.5 2.1            
Billed Connections 14,153 11,527 10,866 10,153 6,753            

*Estate Water started operations in January 2016

 

 

Manila Water Asia Pacific (MWAP) - Consolidated

  FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010
Billed Volume (in mcm) 628 654 573 169 167 165 175        

*Manila Water Asia Pacific started operations in April 2014

 

Thu Duc Water

  FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010
Billed Volume (in mcm) 109.8 110.5 110.2 110.9 110.2 110.0 119.7 120.4 132.1    

*Thu Duc Water was acquired in December 2011

 

Kenh Dong Water

  FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010
Billed Volume (in mcm) 64.9 61.8 57.0 57.8 56.7 55.1 55.2 20.6      

*Kenh Dong Water started commercial operations in July 2013