Company Overview of Bac-Man Geothermal Inc.
Bac-Man Geothermal Inc. owns and operates the 150-megawatt (MW) Bacon-Manito geothermal power plant which engages in power generation and transmission. The company is based in Philippines. Bac-Man Geothermal Inc. operates as a subsidiary of First Luzon Geothermal Energy Corporation.
Energy Center, Merritt Road, Fort Bonifacio
Key Executives for Bac-Man Geothermal Inc.
Bac-Man Geothermal Inc. does not have any Key Executives recorded.
Bac-Man Geothermal Inc. Key Developments
Bac-Man Geothermal Inc. Announces Unaudited Earnings Results for the First Quarter Ended March 31, 2016
May 16 16
Bac-Man Geothermal Inc. announced unaudited earnings results for the first quarter ended March 31, 2016. For the quarter, the company announced revenue of PHP 707.7 million compared to PHP 952.9 million for the same period a year ago. Income before income tax was PHP 4.4 million compared to PHP 343.4 million for the same period a year ago. Net income was PHP 4.6 million compared to PHP 343.4 million for the same period a year ago. The decrease in revenue was primarily due to decrease in WESM prices and expiration of some bilateral contracts.
Bac-Man Geothermal Inc. Completes the Execution of Separate Loan Agreement with Bank of the Philippines Island, BDO Unibank, Inc. and Security Bank Corporation
Sep 10 15
Energy Development Corporation's subsidiary Bac-Man Geothermal Inc. completed the execution of separate loan agreement with Bank of the Philippines Island, BDO Unibank Inc. and Security Bank Corporation for the total amount of PHP 5.0 billion.
Bac-Man Geothermal Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
May 15 15
Bac-Man Geothermal Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the period, the company's revenues increased by 110.2% or PHP 499.5 million due to the commercial operations of Bac-Man Units 3, 1 and 2 in 2015 while only Bac-Man Units 3 and 1 operated in 2014. Cost of sales correspondingly increased by 22.8% or PHP 105.4 million. Operating income was PHP 343.4 million against loss of PHP 37.8 million a year ago. Net income was PHP 343.4 million against loss of PHP 37.8 million a year ago.
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