AEV braces for business recovery, readies employees

·2 min read

THE Aboitiz Group has remained confident in gearing towards returning to pre-pandemic levels and stressed that its business units are focusing on getting their teams ready for the future of a “better normal.”

Aboitiz Group president and chief executive officer Sabin Aboitiz said they see many delays because of so many unexpected things that are happening due to the Covid-19 pandemic.

“We hope to close this year to where we were as far as profitability is concerned, and hopefully, next year, we surpass it. That’s the target,” he said during the Aboitiz Equity Ventures (AEV) annual stockholders’ meeting press conference, Monday, April 26, 2021.

Aboitiz said amid the delays caused by the Covid-19 pandemic since last year, the group will continue its investments as it marches on the road to recovery.

For 2021, AEV said it will once again adopt “a prudent approach to its balance sheet.” It announced that it is allocating P48 billion to fund the various projects of its business units.

Of the total capital expenditure, some P23 billion will be used to fund power projects; P15 billion will be allocated to infrastructure; P4 billion to be utilized by the food group; P3.1 billion for the group’s real estate projects and landbanking; and P2 billion for its banking unit.

But as far as the headwinds are concerned, Aboitiz noted the biggest headwind is going to be their team adapting to what is called the better normal.

“We don’t know, in three to five years, we don’t know how the world will work and will be and what talent and skills we’re going to need,” he said.

Because of that, he said they remain committed to the core value of the company.

“It’s always been about people so we are focused on our team and helping them adapt with the new skills that are necessary,” he said.

He added they are also focused on identifying what those new skills are to be able to work in the new generation and the new way of working in the next three to five years.

“(We are) making sure our teams are ready,” he said. (JOB)