Aboitiz Infracapital delivers P1.4B income to AEV

SunStar Publishing Inc.

ABOITIZ InfraCapital Inc.’s income contribution to Aboitiz Equity Ventures in the first nine months of 2023 amounted to P1.4 billion, 17 percent higher than the P1.2 billion recorded in the same period in 2022.This growth was due to the robust lot sales of its economic estates and incremental contributions from the water and airport business units.

AEV’s share in Republic Cement & Building Materials Inc.’s loss in the first nine months of 2023 amounted to P592 million, a P640 million reversal from the P48 million income recorded in the first nine months of 2022.This was due to lower market demand for cement primarily due to higher inflation, delays in the rollout of government projects, and unfavorable weather conditions in the Visayas and Mindanao regions at the start of the year.

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