What it does:
Generates and distributes energy across the Philippines, owning a portfolio of hydro, solar, geothermal and coal power plants.
The Aboitiz Group as a whole recently earned 31 billion pesos in net income, an increase of 6.7% above the previous year, with net assets totalling 554 billion. The company sees continual improvements in operating profit and revenue each year. Shareholders recently enjoyed a 2.9% increase in earnings per share, but their return on equity has gradually been falling in recent years. Overall the company appears to still be growing and meets quarterly targets.
Conscientious company with an eye on sustainability. High performance culture.
The not so good:
Difficult to get promoted. Limited career options.
Hiring grads with degrees in:
Accounting and finance
The company began in 1918 as a 20% equity stake in Visayan Electric Company, owned by the Aboitiz family. The family assisted in its operation up until 1930, when it purchased the Ormoc Electric Light company, the first power company managed by them, which was then followed by partnering with another power company. Soon enough, the utilities began stacking up, with further purchases in 1935 and another in 1946 of both the Cotabato and Davao Light and Power Companies respectively.
Progress continued as the decades wore on, with the founding of the Hydro Electric Development Corporation in 1978. In just twenty-two years the corporation grew to encompass 14 different plants. By 2007 it was listed on the Philippine stock exchange. Aboitiz kept winning bids and acquisitions, allowing them to branch into nearly all known modes of power generation. They’re still expanding to this day.
Capped salary increases and slow promotions are unfortunately a part of life at Aboitiz. Nevertheless, working here is an opportunity to break into the power distribution sector. Engineers with an interest in renewable energy will enjoy their work, but graduates with an eye on management are advised to look elsewhere.
Accounting and finance graduates will find plenty of opportunities here, with ample roles in business analysis too. It’s a reputable company with a competitive environment, making it a solid career launchpad. But staying for too long is ill-advised.
Graduates who are more comfortable with predefined processes rather than total freedom will enjoy their time here. Senior management set strict policies on conduct. If you prefer setting your own direction, Aboitiz may not be to your liking.
Aboitiz can be fascinating for graduates with an interest in technology. You’ll likely be in a culture of enthusiasts seeking to improve. While the hours can be long, passion is a big part of enjoying work here, because the work is often challenging.
Your peers will often be eager to help you out and offer advice where needed, but senior management can sometimes be firm in their ways. Regardless, high performance is a crucial element of the Aboitiz culture. If you’re able to adjust, you could find yourself achieving more than you first thought.
Aboitiz holds five core values, which they try to remember in everything they accomplish.
They achieve this via the ‘power of balance’, an idea that nothing they do should be excessive, be it too heavy a reliance on one element of their portfolio to not being too reliant on any given power station. ‘Reliable, reasonable and responsible’ is the trilemma they see for the Philippines. In remaining balanced, they hope to embody their core values and continue powering their home for decades to come.