Independent Power and Renewable Electricity Producers
Company Overview of Global Business Power Corporation
Global Business Power Corporation operates as an independent power producer in the Philippines. The company primarily owns and operates coal, industrial fuel oil, and bunker fuel power stations. It has a combined total capacity of approximately 633 megawatts of power that is supplied to the Visayas region. The company is based in Makati, the Philippines. As of September 12, 2012, Global Business Power Corporation operates as a subsidiary of GT Capital Holdings Inc.
GT Tower International
6813 Ayala Avenue
Corner H.V. dela Costa Street
Key Executives for Global Business Power Corporation
Compensation as of Fiscal Year 2014.
Global Business Power Corporation Key Developments
Global Business Power Corporation Announces Earnings Results for the Half Year Ended June 2014
Aug 15 14
Global Business Power Corporation announced earnings results for the half year ended June 2014. For the period, the company reported revenues of PHP 9.3 billion, a 5.4% improvement from the PHP 8.8 billion reported in 2013. The company's net income totaled PHP 920.0 million versus the PHP 1.1 billion reached during the same period last year. Unscheduled downtime due to technical issues in GBPC's Sangi power plant in Toledo, Cebu and the effects of the massive destruction brought about by super Typhoon Yolanda (Haiyan) in the Visayas largely contributed to the decline.
Global Business Power Corporation Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Provides Capital Expenditure Guidance for 2014
May 15 14
Global Business Power Corporation announced consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported a net income of PHP 224.9 million from January to March 2014 as compared to the PHP 390.7 million posted in 2013. The decline resulted mainly from a prolonged regulatory cap implemented on Wholesale Electricity Spot Market (WESM) prices, lower electricity demand, and transmission constraints in the Visayas due to the effects of Super Typhoon Yolanda (Haiyan). GBPC's net fees for the period totaled PHP 4.0 billion from PHP 3.9 billion last year. Net income attributable to shareholders of the parent company, however, dropped by 42.4% from PHP 390.7 million in 2013 to PHP 224.9 million in 2014.
For 2014, the company expects capital expenditure of PHP 16.079 billion.
Global Business Power Corporation Announces Earnings Results for 2013
Apr 2 14
Global Business Power Corporation announced earnings results for 2013. For 2013, the company reported that it saw net income drop 13.6% to PHP 1.9 billion from PHP 2.2 billion mainly due to softer Wholesale Electricity Spot Market prices and extreme damage wreaked by Super Typhoon Yolanda (Haiyan) in the Visayas in November, with net fees falling 12% to PHP 16.9 billion from PHP 19.2 billion.
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