Aboitiz Equity Ventures Inc. said it will pursue acquisitions in line with its strategy to diversify its portfolio and increase the contribution of non-power businesses.
EBITDA is an alternate measure of profitability to net income and primarily represents the cash profit generated from operations. The group also allotted P153 billion for 2024 capital expenditures, nearly double the P65 billion it spent in 2023.Hilado said bulk of this year’s spending or P73 billion would be set aside for its power business, while P40 billion would be spent by the parent firm for the acquisition of 40-percent stake in Coca-Cola Beverages Philippines Inc. .
AEV has been aggressive with its acquisitions in the past two years in bid to tap the growing consumer market.
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