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May 05, 2015 5:28 PM ET

Company Overview of Boracay Island Water Company, Inc.

Company Overview

,  

Philippines

Key Executives for Boracay Island Water Company, Inc.

Boracay Island Water Company, Inc. does not have any Key Executives recorded.

Boracay Island Water Company, Inc. Key Developments

Boracay Island Water Company, Inc. Announces Unaudited Earnings and Operating Results for the First Quarter Ended March 31, 2014

Boracay Island Water Company, Inc. announced unaudited earnings and operating results for the first quarter ended March 31, 2014. For the quarter, the company reported net income of PHP 26,570,000 and EBITDA of PHP 51,616,000 on revenues of PHP 79,533,000 compared to net income of PHP 16,915,000 and EBITDA of PHP 35,443,000 on revenues of PHP 64,424,000 reported a year ago. The growth in billed volume coupled with higher average tariff led to a 23% improvement in total revenues. Net income grew by 57% despite higher depreciation, amortization and interest charges following its expansion. For the quarter, the company posted a 13% increase in billed volume to 1.0 million cubic meters from 0.9 million cubic meters in the same period last year on the back of a 6% increase in water service connections and 7% growth in tourist arrivals that totalled more than 383,000. With the continued improvement in network operations, the non-revenue water level improved by 4% to 13% in the first quarter of 2014 from 17% in the previous year. Number of water connections was 5,762 compared to 5,433 reported a year ago.

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