Aboitiz Equity Ventures Inc. (AEV), the listed holding firm of the Aboitiz group, said U.S. tariff policies under US President Donald Trump have yet to impact its operations—but the company is treading cautiously amid mounting global uncertainty.
Jose Emmanuel U. Hilado, AEV chief financial officer, said the group remains focused on the domestic market, which has so far insulated it from direct fallout from trade tensions. “The Philippines is not really an exporting country, so we don’t expect much direct impact,” Hilado said.
Still, he acknowledged that global developments remain relevant. “Everything is globally related,” Hilado noted, adding that continued tension could indirectly affect the company through shifts in commodity prices, disruptions in supply chains, or volatility in foreign exchange rates. “We continue to monitor these developments to assess the potential risk,” he added.
AEV 2024 revenue generation stood at P302.82 billion, of which 74 percent derived from the domestic market—mainly from its power business. Only about 26 percent or P86.11 billion came from investments across Asia, limiting its exposure to U.S.-driven trade shifts.
Despite a 23 percent decline in net income to P18.1 billion in 2024—largely due to lower spot prices in the power sector—AEV is pushing ahead with an aggressive capital expenditure plan. The group has earmarked P105 billion for 2025, a 37 percent increase from last year’s P76.5 billion. A significant portion of this will go to Aboitiz Power Corp. to fuel its renewable energy initiatives and strengthen its power distribution infrastructure.
The next largest capex share is headed to Aboitiz InfraCapital for its expansion in economic estates and telecom tower acquisitions, followed by digital infrastructure spending by UnionBank and agricultural investments in Aboitiz Foods.
AEV plans to finance the capex through a mix of loans and bonds, while also addressing maturing bond obligations of P5 billion and callable bonds of about P9 billion. “We haven’t really decided the allocation…we’ll maximize whatever is cheapest for us now, whether it’s bonds or loans,” Hilado said, citing uncertainties around interest rate movements.
While cautious about global trends—including Trump-era trade policies—the Aboitiz group appears focused on domestic resilience and long-term strategic investments, particularly in clean energy and digital transformation.
