GROSS revenues of the Bases Conversion and Development Authority (BCDA) in 2023 amounted to P7.4 billion, up by 13.7 percent from P6.5 billion in 2022, according to its annual report.
The public-private partnership development corporation attributed its income boost to the following factors: P1.94 billion in toll revenues from the Subic-Clark-Tarlac Expressway; P675 million in dividends from the Fort Bonifacio Development Corp.; P768 million in interest income; P285 million in gross floor area sales; and from the Clark International Airport, revenues of P270 million, a 116-percent jump from P125 million a year earlier.
“Despite facing unprecedented challenges, we have persevered and made significant strides toward our goals,” BCDA Chairman Delfin Lorenzana said.
BCDA Chairman Delfin Lorenzana. Photos by Rio Deluvio
The BCDA’s 2023 financial performance also registered a modest increase of 0.22 percent in total assets of P205.06 billion.
Liabilities down by 6.67 percent
Total liabilities, meanwhile, went down by 6.67 percent at P34.85 billion with the repayment of loans from the Japan International Cooperation Agency.
Total equity was at P170.2 billion, up by 1.75 percent.
Despite a 6.29-percent increase in operating expenses, the BCDA logged a total comprehensive income of P3.29 billion, down from P7.11 billion due to contributions to its beneficiary projects such as the Armed Forces of the Philippines (AFP) Modernization Program.
“Throughout the year, we remained focused on delivering value to our business locators earning funds for our major stakeholder, the AFP; maintaining financial stability; and upholding our commitment to sustainability and corporate responsibility,” Lorenzana said.
From its establishment as a government-owned and controlled corporation in March 1992 to its latest annual report in December 2023, the BCDA’s total proceeds from its asset disposition program have totaled P141.01 billion.
The AFP remains its biggest beneficiary, receiving P59.71 billion or 42 percent of total disposition proceeds generated over the years. Janine Alexis Miguel
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