C04392-2022

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Jun 15, 2022
2. SEC Identification Number
CS201308147
3. BIR Tax Identification No.
008-521-690
4. Exact name of issuer as specified in its charter
RASLAG CORP.
5. Province, country or other jurisdiction of incorporation
Metro Manila, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
1905 Robinsons Equitable Tower, ADB Ave. cor. Poveda St., Ortigas Center, Pasig City Postal Code 1605
8. Issuer's telephone number, including area code
(02) 8636-6488
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares 1,500,000,000
11. Indicate the item numbers reported herein
9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Raslag Corp.ASLAG

PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Raslag Corp.’s unaudited interim financial results for the three (3) months ended March 31, 2022
Background/Description of the Disclosure

The highlights of Raslag Corp.’s unaudited interim financial results for the three (3) months ended March 31, 2022 are as follows:

1. 1Q2022 revenues increased to Php78.9 million on the back of better energy sales, up 15% from the same period in 2021;
2. Cost of electricity sold decreased by 9% from the same period in 2021 due to lower O&M fees;
3. Gross profit up 30% to Php54.4 million driven by higher revenues and lower cost of electricity sold;
4. Net income reached Php26.1 million, a 2% increase from the same period in 2021;
5. Excluding one-off and IPO-related expenses, recurring net income jumped by 51% to Php38.5 million; and
6. Noncurrent assets hit Php2,394.9 million—a Php50.8 million increase from end-2021 mainly as a result of the continued construction of Raslag-3
Other Relevant Information

RASLAG POSTS HIGHER REVENUES, NET INCOME IN 1Q 2022

Raslag Corp., the renewable energy platform of the Nepo Group, saw higher revenues and net income in the first quarter of 2022 versus the same period in 2021.

Based on its interim unaudited results, the company’s revenues grew 15% to Php78.9 million year-on-year on the back of better energy sales. Net income rose 2% to Php26.1 million compared to the same period last year. Excluding one-off items, net income would have been 51% higher year-on-year.

“Raslag continues to perform very well on the strength of its operating FIT-eligible solar plants, and we expect revenues to grow significantly after our 18 MWp Raslag-3 solar plant begins full commercial operations,” said Peter G. Nepomuceno, Chairman and President of Raslag.
The company will start deploying the proceeds from its recent initial public offering to its next two solar power projects, with most of the funding allocated to the planned 35.159 MWp Raslag-4 solar plant in Magalang, Pampanga.

In relation to this, Raslag Chief Finance Officer Robert Gerard B. Nepomuceno said: “We are already in talks with our bankers for cost-efficient debt financing for our next solar projects, and we will make the appropriate disclosures once the terms have been firmed up.”
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Raslag Corp. (PSE: ASLAG), founded in 2013, is the renewable energy platform of the Nepo Group and a pioneer of utility-scale solar energy development in the Philippines. It currently operates two feed-in-tariff (FIT) eligible solar power plants with a combined capacity of 23.2 MWp. A third solar power plant, with a capacity of 18 MWp, is expected to start commercial operations in June 2022. The bulk of the proceeds of its recent IPO will be used to partially fund the company’s next two solar projects with an aggregate capacity of over 95 MWp.
About the Nepo Group. The Nepomuceno Group of Companies, which trailblazed the industrialization and modernization of Angeles City, was started by entrepreneurs, civic leaders, and philanthropists Juan de Dios Nepomuceno and Teresa Gomez Nepomuceno when they established the Angeles Ice Plant in 1922. Today, the Nepo Group has interests in education, real estate, shopping malls, power generation and distribution, waterworks, and construction materials. Apart from Raslag, the group’s energy businesses include Angeles Electric Corporation, one of the leading private distribution utilities in Luzon; Angeles Power Inc., which operates a 30 MW power plant; and minority stakes in Clark Electric Distribution Corporation and Mindanao Energy Systems Inc.

Forward Looking Statements. This press release may contain forward-looking statements based on current expectations of future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements are subject to risks and uncertainties that may change at any time; hence, Raslag’s actual results may differ materially from those expressed in any such statements. Any forward-looking statement in this press release is made only as of the date hereof, and Raslag assumes no obligation to update such forward-looking statement as a result of new information, future events, or other circumstances.

Please see attachment.
Filed on behalf by:
Name Lyra Gracia Lipae-Fabella
Designation Investor Relations and Compliance Officer