Aboitiz Equity Ventures Inc. is confident about posting growth this year on the integration of past acquisitions.
Jose Emmanuel Hilado, Aboitiz Equity Ventures Inc., chief finance officer, said the company is on track to raise the contribution of non-power business to 50 percent of earnings before interest tax depreciation and amortization as it integrates the consumer loans business of lender Citibank, the operations of the Mactan International Airport, and of Coca-Cola Bottlers Philippines Inc. where it owns 40 percent.
Aboitiz acquired the local bottling operation for the New York Stock Exchange-listed snacks group in partnership with Europe’s Coca-Cola Europacific Partners Plc.
Hilado said Aboitiz can benefit from consolidation of Coca-Cola operations by providing financing facilities to distributors of Coca-Cola bottlers though UnionBank.
“This allows them to access lower financing costs and therefore, the ability to expand the inventory and distribution capabilities,” he said.
Hilado said Aboitiz sees opportunities in the consumer market “because we have a young population and hence strong consumer consumption. This will continue to anchor economic growth in the Philippines.”
Aboitiz earlier said capital spending this year will hit P153 billion, “more than double” what was allocated last year.
