ABOITIZ Equity Ventures Inc. (AEV) on Tuesday reported a 9-percent decline in 2022 net income to P24.8 billion from P27.3 billion a year earlier.

It posted non-recurring gains of P3.5 billion, primarily due to foreign exchange gains from the revaluation of US dollar cash and liquid financial instruments, compared to the P527 million in 2021.

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