Stock Analysis 2010: EEI Corporation

INDUSTRIALS SECTOR | CONSTRUCTION & ENGINEERING INDUSTRY
EEI CORPORATION
(EEI:Philippines)

As of 12:01 AM 08/19/10 All times are local (Market data is delayed by at least 15 minutes).

SNAPSHOT OF EEI CORPORATION (EEI)

OPEN $3.90		PREVIOUS CLOSE $3.89
DAY HIGH $3.94		DAY LOW $3.88
52 WEEK HIGH 06/21/10 - $4.15		52 WEEK LOW 08/19/09 - $2.20
MARKET CAP 4.0B		AVERAGE VOLUME 10 D 1.5M
EPS TTM $0.54		SHARES OUTSTANDING 1.0B
EX-DATE 09/1/10		P/E TTM 7.2x
DIVIDEND $0.10		DIVIDEND YIELD 2.57%
K = Thousands  M = Millions  B = Billions

INDUSTRY ANALYSIS

Valuation	EEI	Industry Range
Price/Earnings	7.0x
Price/Sales	0.7x
Price/Book	1.2x
Price/Cash Flow	6.5x
TEV/Sales	0.2x
EEI

EEI DETAILS

EEI Corporation, together with its subsidiaries, operates as a construction company that provides general contracting and specialty construction services in the Philippines and internationally. The company engages in the installation, construction, and erection of power generating and transmission facilities; oil refineries; chemical production plants; cement plants; food and beverage manufacturing facilities; semiconductor assembly plants; road, rail, and bridge infrastructures; and high rise landmarks. It also engages in the trading of construction materials and equipment; maintenance and operations of industrial facilities; rental, repair, and maintenance of construction equipment; and fabrication and production of equipment systems for building. In addition, the company offers marine vessel building and repair services; light steel and other structural marine-related fabrication works services, as well as builds, rehabilitates, and operates diesel, gas turbine, steam power plants, and other power generating power plants. Further, EEI Corporation engages in property investment and development; trading industrial equipment and supplies; providing manpower supply and recruitment, service contracting and outsourcing, consultancy, and management services; and selling supplies and materials. It serves building and property development, infrastructure, mining and cement, communications, food processing, packaging products, and other manufacturing industries. The company was founded in 1931 and is based in Quezon City, the Philippines. EEI Corporation is a subsidiary of House of Investments, Inc.

Detailed EEI:PM Company Description...
www.eei.com.ph
16,557 Employees
Founded in 1931

EEI TOP COMPENSATED OFFICERS

No compensation data is available at this time for the top officers at this company.
Executives, Board Directors

KEY DEVELOPMENTS FOR EEI CORPORATION (EEI)

EEI Corp. expected to report Q2 2010 results on August 21, 2010. This event was calculated by Capital IQ (Created on August 14, 2010).
08/14/2010
EEI Corp. expected to report Q2 2010 results on August 21, 2010. This event was calculated by Capital IQ (Created on August 14, 2010).

EEI Corp. expected to report Fiscal Year 2010 results on March 19, 2011. This event was calculated by Capital IQ (Created on June 27, 2010).
06/27/2010
EEI Corp. expected to report Fiscal Year 2010 results on March 19, 2011. This event was calculated by Capital IQ (Created on June 27, 2010).

EEI Corp., Annual General Meetings, Jun 18, 2010
04/30/2010
EEI Corp., Annual General Meetings, Jun 18, 2010., at 02:06 GMT Time. Location: RCBC Plaza.

http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=EEI:PM

Stock News 2010: EEI income up 6% in 1st half

Image by Getty Images via @daylifeMANILA, Philippines - Construction giant EEI Corp. said its net income went up six percent in the first half this year largely due to cost-containment measures and the significant decrease in interest expense.
In a financial report submitted to securities regulators, EEI said its net earnings rose to P308.56 million even as consolidated revenues fell six percent to P3.12 billion. Revenues from services also dropped 53 percent from P1.19 billion to P560 million.
Equity in earnings of associate and joint venture likewise plunged 61 percent to P120.62 million, contributing to the decline in revenues.
However, the lower contribution was tempered by the increase in revenue from construction contracts, rising 19 percent to P2.35 billion. Merchandise sales improved 13 percent to P143.06 million while real estate sales more than doubled to P71.9 million.
Interest income amounted to P30.7 million, down 16 percent from P36.42 million, owing to lower interest rate on dollar money market placements.
The company was able to contain its expenses, declining 12 percent to P2.94 billion. However, costs related to construction contracts increased nine percent to P1.89 billion.
During the period under review, EEI won a manpower supply contract for the Singapore Parallel Train Olefins Recovery Project for Shaw Stone & Webster Asia Inc., additional contract for NAIA Expressway and its related road project, package 4C Phase I for Department of Public Works and Highways (DPWH), the construction of the RCBC Savings Bank and Corporate Center in Fort Bonifacio, the construction of the Sun Residences of SM Development Corp. in Quezon City, the construction of the Phoenix semiconductor plant in Clark, Pampanga, and the atmospheric storage facilities for Petron Corp.
In addition, under a joint venture with Korea’s Hanjin Heavy Industries & Construction Co. Ltd., EEI is currently undertaking the P2.84-billion construction of Berth 6 of the Manila International Container Terminal for global port operator International Container Terminal Services Inc. EEI has a 30 percent stake in the joint venture.
Among the company’s overseas projects are the Inco Goro nickel mining project in New Caledonia, involving the commissioning and additional works for the nickel mining plant, and the $12-million pipe erection works of the inlet facilities covering electro-mechanical works for utilities, offsite and off-plot areas for the Qatargas 3 and 4 Onshore project for GAMA Qatar Co. WLL under the Chiyoda-Technip joint venture. These are expected to be completed towards the end of the current year.
Meanwhile, orders backlog from projects represents the value of workable production from ongoing contracts. As of end-June this year, EEI’s total domestic backlog had a net selling price of P6.42 billion, including the backlog of subsidiaries worth P412.42 million.
The backlog provided by the company’s overseas joint venture company, Al Rushaid Construction Co. (ARCC), as of the end of the first semester stood at P12.54 billion.
EEI had total consolidated assets of P8.95 billion as of June 30, 2010, registering a nine-percent growth from the end-2009 level of P8.18 billion.
The company remains optimistic about its prospects for the rest of the year as it continues to pursue new prospects for both local and foreign-based projects.
Zinnia B. Dela Peña
August 19, 2010 12:00AM
http://www.philstar.com/Article.aspx?articleId=603943&publicationSubCategoryId=66

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