results of operations - Aboitiz

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ABOITIZ GROUP FOUNDATION, INC. In 2006, the enhanced scholarship program of the Aboitiz Group Foundation supported 747 scholars in all levels through financial assistance and scholarship grants. CORPORATE SOCIAL RESPONSIBILITY 48 ABOITIZ EQUITY VENTURES ANNUAL REPORT 2006
ABOITIZ GROUP FOUNDATION, INC. Enhancing programs to serve more beneficiaries In 2006, Aboitiz companies were given more opportunities to implement corporate social responsibility (CSR) programs. In partnership with the Aboitiz Group Foundation, Inc. (AGFI), these companies implemented projects in the areas of education, primary health and childcare, and enterprise development. Their passion to serve was evident in the way they helped conceptualize and put into action social initiatives for communities in their respective areas of operations. Last year was a banner year for AGFI in terms of fund allocation and projects implemented for the welfare and development of its beneficiaries. It appropriated π54 million for projects conceptualized by the Group companies. The companies themselves also directly implemented various social development initiatives totaling π90 million. Together with personal and restricted donations of π34 million, the Aboitiz Group’s total for CSR projects amounted to π178 million. Education remains at the heart of the Foundation’s efforts to alleviate poverty, with more than 50% of its budget allocated for education-related projects. It has so far built a total of 142 classrooms now being used by about 15,000 public high school students nationwide. It has also donated 616 new computers with licenses and printers to various public schools, and refurbished 46 computer laboratories. In addition, 16 day-care centers have been built to prepare pre-school children for formal education. In 2006, the Foundation’s enhanced scholarship program supported 747 scholars in all levels through financial assistance and scholarship grants. AGFI and its member-companies also support organized groups in their livelihood activities and capital build-up requirements through microfinancing. Since the start of the microfinance program, the Foundation has released 120 loan packages valued at π21 million. The success and growth of the financing program is attributed to the credible projects being financed and the enviable track record of on-time payments by borrowers. Nine cooperative training centers have been constructed to serve the needs of these diligent payors. The Foundation has identified microfinance as an intervention it intends to grow over the years. AGFI continues to pursue its primary health and childcare programs to promote good health and well-being in its communities. So AGFI builds day-care centers to prepare pre-school children for formal education. far, it has allocated funds for the construction of 16 Level 3 water systems and 12 health centers in various areas benefiting over 2,000 households. Moving forward, the Foundation commits to further expand its programs and projects to serve more beneficiaries. It also commits to enhance its processes to gain the greatest value from donations and projects implemented not only by the Foundation but also by companies across the Aboitiz Group. AGFI remains driven by passion to serve communities where Aboitiz businesses are located. ABOITIZ EQUITY VENTURES ANNUAL REPORT 2006 49
Page 2 and 3: CONTENTS Financial Highlights 2 Rep
Page 4 and 5: FINANCIAL HIGHLIGHTS 06 05 04 Reven
Page 6 and 7: REPORT TO OUR STOCKHOLDERS FROM YOU
Page 8 and 9: We intend to list Aboitiz Power Cor
Page 10 and 11: Market Capitalization (in billion p
Page 12 and 13: RESULTS OF OPERATIONS FROM YOUR CHI
Page 14 and 15: RESULTS OF OPERATIONS VECO extended
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Page 28 and 29: RESULTS OF OPERATIONS The increase
Page 30 and 31: REPORT TO OUR STOCKHOLDERS FROM YOU
Page 32 and 33: REPORT TO OUR STOCKHOLDERS Growth P
Page 34 and 35: SN ABOITIZ POWER, INC. With four ge
Page 36 and 37: HEDCOR, INC. A Hedcor engineer uses
Page 38 and 39: DAVAO LIGHT AND POWER COMPANY Davao
Page 40 and 41: VISAYAN ELECTRIC COMPANY VECO linem
Page 42 and 43: UNIONBANK OF THE PHILIPPINES UnionB
Page 44 and 45: CITY SAVINGS BANK Moving forward, C
Page 46 and 47: PILMICO FOODS CORPORATION Living up
Page 48 and 49: ABOITIZ TRANSPORT SYSTEM The entry
Page 52 and 53: CHRISTMAS OUTREACH PROJECT Expressi
Page 54 and 55: ABOITIZ FUTURE LEADERS’ BUSINESS
Page 56 and 57: ABOITIZ EQUITY VENTURES LOCATION OF
Page 58 and 59: CORPORATE OFFICERS Stephen G. Parad
Page 60 and 61: Independent Auditors’ Report The
Page 62 and 63: ABOITIZ EQUITY VENTURES, INC. AND S
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ABOITIZ EQUITY VENTURES, INC. AND S
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