Manila Water Co Inc (PHS:MWC)
₱ 27.15 0.15 (0.56%) Market Cap: 80.19 Bil Enterprise Value: 177.49 Bil PE Ratio: 9.14 PB Ratio: 1.07 GF Score: 84/100
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Q2 2022 Manila Water Company Inc Earnings Call Transcript

Aug 12, 2022 / 05:30AM GMT
Release Date Price: ₱16.62 (+10.07%)
Gigi Iluminada T. Miguel
Manila Water Company, Inc. - CFO, Treasurer, Chief Risk Officer and Group Director of Corp. Fin. & Strategy

Good afternoon, everyone, and thank you for joining us today. We begin today's briefing with the highlights of the company's performance in the first half of 2022.

On your screen are promising indicators of the business performance in the first 6 months of 2022. Customer demand shows signs of recovery as commercial and industrial accounts improve with the easing of quarantine restrictions. Top line recovery driven by higher water revenues, connection fees and cross-border charges in the East Zone. And for the Non-East Zone Philippines, recovery was driven by higher revenues in the MWTS and Estate Water, as well as by higher tariff rates in several business units. Costs still outpaced revenues as the business continues to comply with service obligations.

Despite the challenges, EBITDA shows improvement, which is 1% higher from last year, even amidst the prevailing parent freeze, which is -- which now amounts to PHP 2.4 billion in foregone revenues in

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