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    DISCLOSURE STATEMENT April 23 2020

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    Ivan Rivera
    EEI Corporation had an exceptional year in 2019 with revenues of P23.6 billion and net income of P1.16 billion, however the global pandemic poses challenges. To ensure liquidity during the anticipated recession, EEI is cancelling its P0.40 per share cash dividend. EEI paid wages for workers during lockdown to protect them and their families. EEI remains focused on establishing measures to strengthen efforts and liquidity to continue construction contracts and bid for new projects.

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    DISCLOSURE STATEMENT April 23 2020

    Uploaded by

    Ivan Rivera
    35 views1 page
    EEI Corporation had an exceptional year in 2019 with revenues of P23.6 billion and net income of P1.16 billion, however the global pandemic poses challenges. To ensure liquidity during the anticipated recession, EEI is cancelling its P0.40 per share cash dividend. EEI paid wages for workers during lockdown to protect them and their families. EEI remains focused on establishing measures to strengthen efforts and liquidity to continue construction contracts and bid for new projects.

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    EEI Corporation had an exceptional year in 2019 with revenues of P23.6 billion and net income of P1.16 billion, however the global pandemic poses challenges. To ensure liquidity during the anticipated recession, EEI is cancelling its P0.40 per share cash dividend. EEI paid wages for workers during lockdown to protect them and their families. EEI remains focused on establishing measures to strengthen efforts and liquidity to continue construction contracts and bid for new projects.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    35 views1 page

    DISCLOSURE STATEMENT April 23 2020

    Uploaded by

    Ivan Rivera
    EEI Corporation had an exceptional year in 2019 with revenues of P23.6 billion and net income of P1.16 billion, however the global pandemic poses challenges. To ensure liquidity during the anticipated recession, EEI is cancelling its P0.40 per share cash dividend. EEI paid wages for workers during lockdown to protect them and their families. EEI remains focused on establishing measures to strengthen efforts and liquidity to continue construction contracts and bid for new projects.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    DISCLOSURE STATEMENT

    --------------------------

    The year 2019 has been an exceptional year for EEI Corporation with revenues reaching
    P23.6 billion and a net income of P1.16 billion. The Company attributes this feat to its robust
    performance in both domestic and international operations, complemented by the Company’s
    internal system innovations and diversification programs.

    EEI was anticipating more projects in the coming years given the Construction Industry
    Roadmap 2020 to 2030, coupled with projects under the ‘Build, Build, Build’ program. However,
    the emergence of the global pandemic is an unforeseen international threat that will hamper
    operations and create setbacks and delays for all construction companies and the businesses of its
    clients. EEI unfortunately is not immune to this global pandemic.

    In this challenging and difficult time, EEI Corporation is responding decisively with
    calculated measures to protect the welfare and interests of all its stakeholders; leveraging on its
    strength and depth from its 89 years of experience and expertise.

    Primarily, EEI Corporation commits to protect its Shareholders. Thus, after careful
    assessment and evaluation, the Company is cancelling the cash dividend declaration made last
    March 13, 2020, in the amount of PhP0.40 per share to all common stockholders of record. This
    measure will help ensure the Company’s liquidity which will enable it to deal with the difficulties
    that the anticipated recession will bring.

    EEI's workers are its most valuable assets. During the lockdown days, EEI paid the wages
    of all its workers to protect them and their families so that they do not go hungry and become an
    added burden to our society that is already groaning from the dire effects of the Enhanced
    Community Quarantine. Their construction capability was used to rapidly build and deploy Covid-
    19 quarantine areas and other medical facilities in cooperation with government and other private
    entities. EEI's carpenters, painters, truck drivers, managers and supervisors were mobilized to help
    increase the available medical capacity of our country to deal with the pandemic.

    EEI Corporation remains focused to thrive. It remains motivated to carefully and


    continuously establish measures, strengthen efforts and have the liquidity to continue the execution
    of the construction contracts it has on hand and bid for new projects.

    We thank you for your understanding and support.

    For inquiries, kindly send an email to the following addresses:

    lrdecastrojr@eei.com.ph - Office of the Corporate Secretary


    grthipolito@eei.com.ph - Investor Relations Office
    cnetorres@eei.com.ph - Office of the Chief Financial Officer

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