EDC 2014 SR (UPDATED)

EDC 2014 Performance Report
Report of the
President and COO
Dear Stakeholders,
This year, I would like to discuss the company’s
performance in terms of building blocks that we
have laid as foundations for an even stronger future.
These building blocks include:
1. Our recurring net income attributable to EDC, which is
at an all-time high;
2. Our cash flows that are also at an all-time high and
stand ready to fund future growth;
3. Our platform for growth, built on expanding into
solar, wind, and geothermal locally and in geothermal
globally;
4. Our reputation with the capital markets, which is
beginning to turn a corner;
5. Our employees, among the most highly engaged in
the country;
6. Our structure focused on the business units, where
accountability and performance are tracked and led;
7. Our senior management team that is capably leading
the company.
However, despite these strong building blocks, there was
bad news in the business primarily caused by Typhoon
Glenda in July that affected our Bacman operations, and
Ruby and Seniang that impacted our operations in Leyte
in December. It is clear that we can no longer afford to
be defenseless against the intensifying changes in our
climate. Thus, we are implementing engineering solutions
to improve our resiliency, which I will describe in detail in
the succeeding pages.
₱9.2 billion
RNI attributable to EDC
40% increase from 2013
130MW Bacman
power plants’
return-to-service
49.4MW Nasulo
power plant’s
successful
commissioning
₱30.9 billion
Consolidated Revenues
20% increase from 2013
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This page contains the following GRI indicator(s):
G4-1