First Gen Integrated Report 2023
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FINANCIAL CAPITALS

*In USD thousands except per share data

2023 2022 2021 2020 2019
Revenues 2,474,748 2,666,706 2,166,782 1,830,300 2,151,386
Consolidated Net Income 449,333 369,512 354,240 393,734 414,228
Net Income Attributable to Equity Holders of the Parent 312,204 261,390 258,253 275,695 296,208
Recurring Net Income Attributable to Equity Holders of the Parent 277,036 265,446 252,437 252,104 284,410
Total Assets 6,126,657 5,375,868 5,503,389 5,708,472 5,209,697
Total Liabilities 2,825,531 2,416,251 2,530,186 2,752,421 2,618,198
Equity Attributable to Equity Holders of the Parent 2,676,172 2,413,980 2,438,010 2,423,481 2,124,979
Non-Controlling Interests 624,954 545,637 535,193 532,570 466,520
Basic/Diluted Earnings Per Share for Net Income Attributable to Equity Holders of the Parent (in USD/share) 0.087 0.071 0.070 0.073 0.078


MANUFACTURED CAPITAL

3,474.2MW

installed capacity

21,604.5GWh

of power generated in 2023



INTELLECTUAL CAPITAL

100% subsidiaries

certified to ISO 9001, ISO 14001 and ISO 45001

USD59.9 thousand

investment in R&D for business model, strategy, planning, alternative materials, extraction process and projects related to circularity

No complaints

on breach with Data Privacy


USD10.2 million

investment on various initiatives addressing information security, technology risk, and data privacy

Reinforcement of a unified record management system

for a more secure and organized repository of documents



NATURAL CAPITAL

10,740,303.6 CO2e greenhouse gas (GHG)

emissions avoided vs. coal

127,608 hectares

of natural forest protected in geothermal reservations

0.32 tCO2e/MWh

emission intensity


10,140 hectares

of forest reforested

1,739,824.0tCO2e

carbon sequestered from natural forests in geothermal reservations



SOCIAL CAPITAL AND RELATIONSHIP CAPITAL

618 students

supported through scholarships


19 social enterprise and livelihood projects

supported to augment sources of income of host communities

30,438 students and teachers

provided with educational assistance

PHP15.5 million

income generated from livelihood projects and contracts for host communities

10,710 individuals

from host communities extended with medical services

94% availment

of Value Added Services

Very Satisfactory rating

based on Customer Satisfaction Survey



HUMAN CAPITAL

Net hire ratio of 2.0

indicates the workforce increased

75% of new hires

are ages 40 and below

78% increase

in total training hours from previous year

67% increase

in average training hours per employee from previous year

Main drivers of increased training hours:

  • Functional Training
  • Digital/technology Training
  • Environment, Safety, Health, and Security Training
  • People Manager Training
  • Capability Building-related Skills Training

Diversity, Equity, and Inclusion (DE&I)

  • Obtained a score of 54% (Achiever) in the initial assessment using the WEPs Gender Gap Analysis Tool. This is higher than the 2022 global and regional (Asia) averages of 32% and 35%, respectively

New Policies Promoting Wellbeing and Human Rights of Employees

  • Issuance of new policies that promote DE&I, namely:
    • ‘Breastfeeding Policy ’ - The policy promotes well-being and child- care for women
    • ‘Policy Against Forced Labor and Child Labor’ - Promotes and protects human and children ’ s rights by taking a strong stance against forced or child labor

Zero reported incidents

of child labor and forced labor

0.18 Total Recordable Incident Rate vs. 0.18 TRIR target

for employees and workers

Readiness for hybrid workforce

  • Hybrid work practices and programs are reviewed with business units through check-in sessions.
  • With the opening of the Rockwell Business Center (RBC) office, employees gained access to newly renovated hot desks, meeting rooms, and collaboration areas that advocate productivity, creativity, flexibility, and inclusivity.