2019- Which Index Company Is 52 Week New High? With Share Buybacks? Less than 10X P/E and Grew 50% Income?
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https://www.firstgen.com.ph/our-business/our-power-plants/
FGEN’s Power Assets Portfolio :
All slides from FGEN’s 2017 Earnings Presentation found in PSE Edge.
- Natural Gas : 1000MW Sta Rita; 500MW San Lorenzo, 420MW San Gabriel, 97 MW Avion
- Hydro: 132 MW Pantabangan Masiway; 1.6MW Bukidnon
- Wind and Solar: 3.63 MW Gaisano Solar Rooftop, 6.82 Burgos Solar Power, 150 MW Burgos Wind Power
- Geothermal: 140 MW Bacon Manito, 588.4 MW Unified Leyte, 123 MW Tongonan ; 172.5 MW Palinpinon 1 and 2, 49.4 MW Nasulo Geothermal
March 12, 2018 — Power Supply Agreement between First NatGas Power Corp. and the Manila Electric Company
Dec 21, 2018- Filing of an application for a Notice to Proceed with the Department of Energy for the FGEN Batangas LNG Terminal Project
Dec 5, 2018 — Execution of a Joint Development Agreement between First Gen Corporation and Tokyo Gas Co., Ltd.
Note that they had worked on the LNG Terminal since 2017. Slide below is as early as FY17 results or April 3 2018.
Share Buy Back Transaction Filings
FGEN has bought in the most recent reported filing last Dec 21, 2018 a total of P269.64 Mil worth or 17.981M shares at an average cost of 15.01, the company has authorized up to 300Mil of the company’s common shares to be bought back from the market.
Nov 15 2018 — Strong 9M18 Earnings Results from Natural Gas Portfolio Net Income +50% increase versus 2017
May 10 2018–1Q18 Results show strong numbers 34% with the company providing outlook of FY income a little less than $200M ; also providing numbers about a planned LNG facility where they’d allocate $20M and $15M capex for San Gabriel Natural gas plant.
Sept 20 2018 — Cash Dividend Declaration
Deleveraging by Redemption of Prior Preferred Shares
Report by Owner of More Than Five Percent:
Please see attached Amended SEC Form 18-A sent to First Gen Corporation by Eastspring Investments (Singapore) Limited
Related Categories: FPH,FGEN,LPZ
As of December 31, 2017, First Philippine Holdings Corporation directly and indirectly owns 66.52% of the common shares of FGEN and 100% of FGEN’s voting preferred shares. Lopez, Inc. is the ultimate parent company of FGEN.
Company Description: First Gen Corporation (FGEN) was incorporated and registered with the Securities and Exchange Commission on December 22, 1998. FGEN and its subsidiaries are involved in the power generation business. FGEN is the largest clean and renewable Independent Power Producer in the Philippines, with a total installed capacity of 3,490 MW as of December 31, 2017.
The Company owns power plants which utilize natural gas, geothermal, wind, hydro and solar power, all of which are operational and majority-owned and controlled by the Company through its subsidiaries. These subsidiaries include First Gas Power Corporation, FGP Corp., First NatGas Power Corp., Prime Meridian Powergen Corporation, FG Bukidnon Power Corporation, and Energy Development Corporation.
