Reported Earnings • Apr 23
Full year 2025 earnings released: ₱0.082 loss per share (vs ₱0.032 loss in FY 2024) Full year 2025 results: ₱0.082 loss per share (further deteriorated from ₱0.032 loss in FY 2024). Revenue: ₱1.56b (up 30% from FY 2024). Net loss: ₱4.10b (loss widened 156% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Mar 27
SP New Energy Corporation, Annual General Meeting, May 25, 2026 SP New Energy Corporation, Annual General Meeting, May 25, 2026, at 16:30 W. Australia Standard Time. Announcement • Feb 02
SP New Energy Corporation Announces Resignation of Anthony Vergel B. Velasco as Chief Audit Executive, Effective January 30, 2026 SP New Energy Corporation announced that Mr. Anthony Vergel B. Velasco, the Chief Audit Executive of SP New Energy Corporation, resigned from the Company. His resignation took effect on January 30, 2026. The resignation was due to personal reasons. Announcement • Jan 23
SP New Energy Corporation Announces Resignation of Leandro Antonio L. Leviste as A Member of the Board of Directors Effective January 23, 2026 SP New Energy Corporation announced resignation of Mr. Leandro Antonio L. Leviste as a member of the Board of Directors effective January 23, 2026. New Risk • Nov 18
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 1.5% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 18
Third quarter 2025 earnings released: ₱0.003 loss per share (vs ₱0.005 loss in 3Q 2024) Third quarter 2025 results: ₱0.003 loss per share (improved from ₱0.005 loss in 3Q 2024). Revenue: ₱232.5m (down 13% from 3Q 2024). Net loss: ₱169.8m (loss narrowed 33% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 16
Second quarter 2025 earnings released: ₱0.004 loss per share (vs ₱0.002 profit in 2Q 2024) Second quarter 2025 results: ₱0.004 loss per share (down from ₱0.002 profit in 2Q 2024). Revenue: ₱377.6m (up 1.2% from 2Q 2024). Net loss: ₱241.9m (down 429% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 30
Full year 2024 earnings released: ₱0.032 loss per share (vs ₱0.24 profit in FY 2023) Full year 2024 results: ₱0.032 loss per share (down from ₱0.24 profit in FY 2023). Revenue: ₱1.20b (up 89% from FY 2023). Net loss: ₱1.60b (down 128% from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Apr 14
SP New Energy Corporation, Annual General Meeting, May 26, 2025 SP New Energy Corporation, Annual General Meeting, May 26, 2025, at 16:00 W. Australia Standard Time. Announcement • Feb 04
SP New Energy Corporation Announces Executive Changes SP New Energy Corporation announced that the resignation of Alicia G. Brion as Controller effective February 03, 2025. The company also announced that the resignation of Amanda Roselle A. Bengson as Chief Compliance Officer effective January 24, 2025. These resignations are due to reorganization. The company approved the appointment of the following individuals to the following positions in the Company, effective on February 3, 2025. Minette O. Co as Controller, Mary Ann D. Ballesteros as Chief Compliance Officer and Data Privacy Officer. New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 46% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 17
Third quarter 2024 earnings released: ₱0.005 loss per share (vs ₱0.001 loss in 3Q 2023) Third quarter 2024 results: ₱0.005 loss per share (further deteriorated from ₱0.001 loss in 3Q 2023). Revenue: ₱268.2m (flat on 3Q 2023). Net loss: ₱252.3m (loss widened 407% from 3Q 2023). Announcement • Sep 05
Meralco PowerGen Corporation acquired 11.60% stake in SP New Energy Corporation (PSE:SPNEC) from Solar Philippines Power Project Holdings, Inc. for PHP 7.5 billion. Meralco PowerGen Corporation acquired 11.60% stake in SP New Energy Corporation (PSE:SPNEC) from Solar Philippines Power Project Holdings, Inc. for PHP 7.5 billion on September 3, 2024. A cash consideration of PHP 7.5 billion will be paid by Meralco PowerGen Corporation. As part of consideration, PHP 7.5 billion is paid towards common equity of SP New Energy Corporation.
Meralco PowerGen Corporation completed the acquisition of 11.60% stake in SP New Energy Corporation (PSE:SPNEC) from Solar Philippines Power Project Holdings, Inc. on September 3, 2024. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₱1.28, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 11x in the Renewable Energy industry in Philippines. Recent Insider Transactions • Jul 27
President recently bought ₱2.1m worth of stock On the 22nd of July, Emmanuel Rubio bought around 2m shares on-market at roughly ₱1.04 per share. This transaction increased Emmanuel's direct individual holding by 2000000x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Emmanuel's only on-market trade for the last 12 months. Announcement • Jun 13
SP New Energy Corporation Announces the Resignation of Pedro Emilio O. Roxas as Independent Director SP New Energy Corporation at its board of directors meeting held on June 10, 2024, accepted the resignation of Mr. Pedro Emilio O. Roxas as Independent Director. Announcement • May 11
SP New Energy Corporation Announces Board and Committee Appointments SP New Energy Corporation at its AGM held on May 10, 2024, approved the appointment of Mr. Lance Y. Gokongwei, Mr. Ryan Jerome T. Chua and Ms. Lydia B. Echauz as members of the Board of Directors for the term 2024-2025. At the Organizational Meeting held immediately after the Annual Meeting of the Stockholders, the Board of Directors elected the following: Manuel V. Pangilinan Chairman/President/Chief Executive Officer, Leandro Antonio L. Leviste - Vice-Chairman, Dominador M. Camu, Jr. - Chief Operations Officer, Rochel Donato R. Gloria - Treasurer/Chief Financial Officer, Jo Marianni P. Ocampo-Jalbuena - Corporate Secretary, Doris S. Te - Assistant Corporate Secretary, Amanda Roselle A. Bengson - Compliance Officer, Lydia B. Echauz - Lead Independent Director, Alicia G. Brion - Head of Controllership. Board Committee Membership:- Lydia B. Echauz (ID), Leandro Antonio L. Leviste, Benjamin I. Espiritu (ID), Pedro O. Roxas (ID), Ryan Jerome T. Chua. to Audit Committee. Pedro O. Roxas (ID), Leandro Antonio L. Leviste, Benjamin I. Espiritu (ID), Ryan Jerome T. Chua, Lydia B. Echauz (ID) to Corporate Governance Committee. Benjamin I. Espiritu (ID), Leandro Antonio L. Leviste, Pedro O. Roxas (ID), Lydia B. Echauz (ID), Ryan Jerome T. Chua. to Related Party Transactions Committee. Recent Insider Transactions • Apr 30
Director recently bought ₱3.0m worth of stock On the 23rd of April, Hazel Iris Lafuente bought around 3m shares on-market at roughly ₱1.00 per share. This transaction increased Hazel Iris' direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱5.0m more in shares than they have sold in the last 12 months. Announcement • Mar 09
SP New Energy Corporation, Annual General Meeting, May 10, 2024 SP New Energy Corporation, Annual General Meeting, May 10, 2024. Announcement • Dec 21
SP New Energy Corporation Announces Board Changes SP New Energy Corporation announced that the Board of Directors of the Company approved on 11 December 2023 the election of the Company's recently elected Treasurer and Chief Finance Officer, Rochel Donato R. Gloria, as a member of the Board of Directors effective 11 December 2023. Mr. Gloria shall serve the remainder of the term of Mr. Carlos Jose P. Gatmaitan. The Board of Directors of the Company thanked Mr. Carlos Jose P. Gatmaitan, who has graciously given way for this election of a new director, and for his invaluable contributions to the Company. Mr. Gloria serves as the CFO of Meralco PowerGen Corporation (MGen). Concurrently, he serves as the CFO of Global Business Power Corporation (GBP), a wholly-owned subsidiary of MGen. He is a seasoned executive bringing in 37 years of leadership experience in corporate finance, business development, and marketing from various industries, including energy, telecommunications, and private equity, among others. Prior to joining GBP, he served as Vice President and Head of Business Development and Corporate Planning for First Philec Inc. He also served as First Vice President and Head for Energy Trading and Sales for Aboitiz Power Corporation. He holds a Master of BusinessAdministration from the Ateneo de Manila University Graduate School of Business. He graduated with a Bachelor of science, majoring in Industrial Management and minor in Mechanical Engineering from De La Salle University. Announcement • Dec 14
SP New Energy Corporation (PSE:SPNEC) acquired unknown stake in Terra Solar Philippines, Inc. from Prime Infrastructure Capital, Inc. for PHP 6 billion. SP New Energy Corporation (PSE:SPNEC) acquired unknown stake in Terra Solar Philippines, Inc. from Prime Infrastructure Capital, Inc. for PHP 6 billion on December 11, 2023. Together with shares in Terra Solar acquired from SP New Energy's parent company Solar Philippines Power Project Holdings Inc. (SPPPHI), SP New Energy is now the owner of 100 percent of Terra Solar following the transaction. Board of Directors of SP New Energy approved the transaction on December 11 2023.SP New Energy Corporation (PSE:SPNEC) completed the acquisition of unknown stake in Terra Solar Philippines, Inc. from Prime Infrastructure Capital, Inc. on December 11, 2023. Announcement • Dec 13
SP New Energy Corporation Elects Rochel Donato R. Gloria as A Member of the Board of Directors SP New Energy Corporation at its Meeting of the Board of Directors on December 11, 2023 approved Election of its recently elected Treasurer and Chief Finance Officer, Rochel Donato R. Gloria, as a member of the Board of Directors effective December 11, 2023. Board Change • Dec 01
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Carlos Jose Gatmaitan was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Oct 13
SP New Energy Corporation announced that it expects to receive PHP 15.9 billion in funding from MGen Renewable Energy, Inc. SP New Energy Corporation announced a private placement of 15,700,000,000 common shares and 19,400,000,000 non-convertible redeemable preferred voting shares for the gross proceeds of PHP 15,900,000,000 on October 12, 2023. The transaction will include participation from new investor MGen Renewable Energy, Inc. Announcement • Aug 02
Solar Philippines Power Project Holdings, Inc. acquired additional 70.90847% stake in SP New Energy Corporation (PSE:SPNEC) for PHP 2.4 billion. Solar Philippines Power Project Holdings, Inc. acquired additional 70.90847% stake in SP New Energy Corporation (PSE:SPNEC) for PHP 2.4 billion on June 1, 2023.
Solar Philippines Power Project Holdings, Inc. completed the acquisition of additional 70.90847% stake in SP New Energy Corporation (PSE:SPNEC) on June 1, 2023. New Risk • Jun 14
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 323% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₱939m free cash flow). Earnings have declined by 57% per year over the past 5 years. Shareholders have been substantially diluted in the past year (323% increase in shares outstanding). Revenue is less than US$1m. Announcement • May 18
Solar Philippines Tarlac Corporation entered into an agreement to acquire 17 companies of SPPPHI. Solar Philippines Tarlac Corporation entered into an agreement to acquire 17 companies of SPPPHI on May 15, 2023. Announcement • May 09
Metro Pacific Investments Corporation (PSE:MPI) completed the acquisition of 16% stake in SP New Energy Corporation (PSE:SPNEC). Metro Pacific Investments Corporation (PSE:MPI) agreed to acquire 16% stake in SP New Energy Corporation (PSE:SPNEC) for PHP2 billion on March 27, 2023. Upon the Closing of the transaction, Mr. Pangilinan will become Chairman of the Board of SPNEC. MPIC will be funding the initial acquisition through internally generated cash. The deal is subject to regulatory approval and acquirer board approval. As of March 27, 2023 acquirer board approved the deal. UBS acted as the financial advisor on the transaction.
Metro Pacific Investments Corporation (PSE:MPI) completed the acquisition of 16% stake in SP New Energy Corporation (PSE:SPNEC) on May 8, 2023. Recent Insider Transactions • Dec 30
Director & Head of Controllership recently bought ₱1.2m worth of stock On the 27th of December, Aresty Lapitan bought around 1m shares on-market at roughly ₱1.21 per share. This transaction increased Aresty's direct individual holding by 1000000x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱4.3m more in shares than they have sold in the last 12 months. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Carlos Jose Gatmaitan was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Recent Insider Transactions • Nov 05
CIO, Chief Project Officer recently bought ₱1.2m worth of stock On the 3rd of November, Hazel Iris Lafuente bought around 1m shares on-market at roughly ₱1.17 per share. This transaction increased Hazel Iris' direct individual holding by 3x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱2.2m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Sep 23
CFO, Director & Treasurer recently bought ₱296k worth of stock On the 15th of September, Jesusa Loreto Arellano bought around 197k shares on-market at roughly ₱1.50 per share. This transaction increased Jesusa Loreto's direct individual holding by 22x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Jesusa Loreto's only on-market trade for the last 12 months. Announcement • May 02
Solar Philippines Nueva Ecija Corporation, Annual General Meeting, Aug 30, 2022 Solar Philippines Nueva Ecija Corporation, Annual General Meeting, Aug 30, 2022, at 09:00 Singapore Standard Time. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Carlos Jose Gatmaitan was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Feb 15
Solar Philippines Nueva Ecija Corporation Announces Executive Changes Solar Philippines Nueva Ecija Corporation at the SBM, the board has approved appointment of Atty. Gabriel A. Dee as Corporate Secretary and Ms. Hazel Iris P. Lafuente as Assistant Corporate Secretary. Announcement • Dec 28
Solar Philippines Nueva Ecija Corporation Begins Construction of the First Phase of Nueva Ecija Plant Solar Philippines Nueva Ecija Corporation announced that it has begun construction of the first phase of what is According to the company's prospectus, the use of proceeds from its PHP 2.7 billion IPO are to construct the first 50 MW and the interconnection facilities for the full 500 MW, and to acquire land to expand the project beyond 500 MW. The first 50 MW is targeted to begin delivering power to the grid by the end of 2022, paving the way for SPNEC to reach profitability and construct the rest of the project by 2023. The project is designed for the full 500 MW, using land that SPNEC has been developing since 2016. Once the first 50 MW begins delivering power to the grid, SPNEC plans to install solar panels for the next 175 MW over half a year, and be ready to install solar panels for the rest of the 500 MW over a year, given the relative ease of adding capacity to an already operating solar farm. This approach is made possible by Solar Philippines' in-house Engineering, Procurement, Construction (EPC) team, the largest solar EPC team in the Philippines, which implemented the company's now operational solar farms in Calatagan, Batangas and Concepcion, Tarlac. Located in Peñaranda, a 4th class municipality in Nueva Ecija, the project is expected to create over 5000 jobs during construction and over 500 jobs during operations. The company is investing in training locals in solar panel installation, given the expected scale of projects in this area over the coming years. SPNEC earlier announced that it is using the rest of its IPO proceeds to develop a 1000-hectare expansion for a joint venture with a partner who can help turn this plan into a reality. The company has noted that partnering with the country's leading companies is key to accelerate the transition to renewable energy. The co-location of the first 500 MW and the 1000-hectare expansion in the same area will support the development of new transmission and bring economies of scale to solar in the Philippines, with these two projects being larger than all the solar projects to date in the Philippines combined. Announcement • Dec 18
Solar Philippines Nueva Ecija Corporation has completed an IPO in the amount of PHP 2.7 billion. Solar Philippines Nueva Ecija Corporation has completed an IPO in the amount of PHP 2.7 billion.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 2,700,000,000
Price\Range: PHP 1