Manila Water Company

The company which was awarded the concession for the eastern half of Manila in 1997. The international part of the consortium was United Utilities/North West Water of the UK (other partners were Bechtel, Ayala and Mitsubishi). Manila Water Company's operations have suffered from a severe drought created by the El Nino weather phenomenon (UU AR98, p. 16)

IWL (Bechtel) withdrew its minority stake from Manila in August 2003, selling to Ayala and United Utilities.

Manila Water requested a price increase of almost 100%, which was not endorsed by local authorities. It therefore resorted to international arbitration in August 1999.
(see News for details)

In June 2004 IFC announced it would take a 9.2% stake, diluting other shareholders' holdings, in the run-up to a planned 2005 IPO.

Year end Currency Employee cost Number of employees Profit Profit per employee ROCE (percent) Revenue (in millions) Revenue in euros (millions) Revenue per employee
2010-12-31 PHP 687 1589 3755 3294 14.87% 18202 310 11455
2009-12-31 PHP 3014 340 2662 12457 13.17% 13735 206 40398
Employees: 
1589

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