2018 Integrated Report
Manila Water adheres to the integrated reporting standards as a means of aligning its strategies with the external environment in which the company creates value and communicating the outlook on future performance. This Integrated Report presents the company’s performance across all operating business units for the year 2018, and a thorough account of its strategy and governance. This has been reviewed by Senior Management before publication.
NOTE ON FORWARD-LOOKING STATEMENTS
Certain statements and illustrations contained in this report may constitute “forward-looking statements” within the meaning of applicable securities laws and regulations. These statements (including plans, objectives, projections, and estimates) and illustrations include information that does not relate solely to historical or current facts, and can be identified by the use of words such as “may,” “believe,” “expect,” “anticipate,” “assume,” “estimate,” “plan” or “continue,” and similar expressions or by future or conditional verbs such as “should,” “would” and “could.”
Such statements are based on current expectations of future events, estimates, and certain assumptions of our management. These are therefore subject to certain risk factors and uncertainties, some of which are beyond our control, and which could cause the actual results, financial situation, or performance to differ materially from the estimates or developments that are implied in these forward-looking statements. We do not assume any obligation to update these forwardlooking statements to reflect actual results, changes in assumptions, or changes in other factors affecting such statements.
REPORTING STANDARDS
This report covers all financial information and environmental, social, and governance performance of all Manila Water’s major operating segments and subsidiaries namely the Manila Concession representing the East Zone operations of Manila Water Company, Inc. (Manila Water), Manila Water Philippine Ventures, Inc. (MWPV), Manila Water Asia Pacific Pte. Ltd. (MWAP), and Manila Water Total Solutions Corp. (MWTS) – collectively referred to as the “Enterprise” in this Report. Environmental information does not include MWAP’s Saigon Water, East Water and PT Sarana Tirta Ungaran (PT STU).
The information contained in this report covers the period from January 1 to December 31, 2018. The report is anchored on materiality and discloses performance data that have been validated across the Enterprise. Data have been presented over a three-year period for comparability where possible.
This report has been prepared in accordance with the GRI Standards: Core option. It is also aligned with the Integrated Reporting <IR> Framework of the International Integrated Reporting Council (IIRC), whose guiding principles for the preparation of an integrated report were observed. The report features the content elements of an integrated report, which are: organizational overview and external environment, governance, business model, risks and opportunities, strategy and resource allocation, performance, outlook, and basis of preparation and presentation.
FINANCIAL STATEMENTS
SyCip Gorres Velayo & Co. (SGV & Co.) is the external auditor of Manila Water’s financial statements, with Michael C. Sabado as the lead engagement partner. More information about the audit process is found here, while the financial statements can be found here.
SUSTAINABILITY PERFORMANCE
Manila Water appointed DNV GL, an independent organization and a global provider of certification, assurance assessment, and training services, to conduct independent assurance of this report. This is the third year that DNV GL has been appointed as an external verifier for the assurance of the company’s Integrated Report. The scope of assurance by DNV GL has been limited to sustainability performance of the Enterprise and the adoption of <IR> Framework in this report.
The Independent Assurance Statement can be found here.
FEEDBACK
Manila Water welcomes inquiries and feedback on this report. Please e-mail [email protected] and [email protected].