2005 - 2006 - Pinsent Masons Water Yearbook 2012

PHILIPPINES PART 3 (iii): COMPANY ANALYSIS: NEW ENTRIES (REST OF THE WORLD)
Philippines
Metro Manila
In 1997, United Utilities (18.0% stake) gained Metro Manila, the operating company for the 25 year
concession contract for the eastern zone of Manila’s Metro Manila Water and Sewerage System
(MWSS) together with Alaya of the Philippines (51.1% stake), and Mitsubishi (11.35%), BPI Capital
(11.35%) and employees (6.3%). The IPO of Manila Water resulted in UU’s stake decreasing to 12%.
Manila Water Co, profit & loss account
Y/E 31/12 (Ps million) 2002 2003 2004
Water 2,111.0 3,062.3 3,413.8
Environmental Charges 209.5 305.9 339.9
Sewerage 121.3 198.6 213.6
Interconnection 41.9 1.2 0.0
Interest 66.1 89.9 127.2
Other 132.7 120.0 111.1
Total revenues 2,682.5 3,777.9 4,205.6
Operating profits 929.8 1,813.5 2,029.2
Net profits 558.4 1,150.5 1,335.5
Earnings per share (Ps) 0.28 0.60 0.73
Water supplied (MLD) 1,622 1,577 1,517
Billed water – commercial & industrial (MLD) 90 88 96
Billed water – residential (MLD) 179 185 194
Non revenue water (%) 54.0% 52.0% 47.5%
People served (million) 4.3 4.7 5.1
Service connections (000) 370 397 426
Household connections (000) 470 515 556
A number of service quality targets have been set. Sewerage and sewage treatment have made
limited progress to date, but Manila Water is set to achieve its goal of universal 24 hour water
availability by 2007 against 26% availability in 1996 (availability was 89% by 2004) and to reduce non
revenue water from its 63% level in 1997 to 43% by 2007. Household connected have increased from
325,000 in 1997 to 556,000 by 2005, an increase in 2 million people being served. Sewerage
coverage has increased from 5% in 1997 to 7% by 2005.
Contact Details:
Name: The Manila Water Company Inc
Address: 489 Katipunan Road,
Quezon City, 1105 Philippines
Tel: (632) 926 7999
Web: www.manilawater.com
Antionio Aquino (Chairman)
Femando Zobel de Ayala (President)
362 Pinsent Masons Water Yearbook 2005 – 2006