JG Summit Holdings Inc. · PSE:JGS

JG Summit — Q1 2019 Earnings Presentation

18 slides from JG Summit's earnings presentation, May 2019

  1. Slide 1: 1Q 2019 Unaudited Results Investors Briefing

    1Q 2019 UNAUDITED RESULTS INVESTORS BRIEFING Mike Liwanag Senior Vice President

  2. Slide 2: Agenda

    Agenda 1 1Q 2019 Unaudited Results 2 Business Updates, Plans and Prospects 2

  3. Slide 3: JGS: Profits significantly recovered early in 2019

    JGS: Profits significantly recovered early in 2019 In billion pesos 1Q18 1Q19 Growth • Topline growth was mainly driven by the pivot in URC’s Philippines business, acceleration in CEB’s revenues, and Revenues 70.1 76.3 +9% sustained momentum in RLC and RBank • Core net income remained flattish as th

  4. Slide 4: URC: Started strong with growth driven by businesses in the Philippines

    URC: Started strong with growth driven by businesses in the Philippines Revenue, +9% Sales Breakdown 30.7 33.3 % chg vs LY 21% Branded Consumer +10% Foods Philippines 48% Branded Consumer -3% Foods International 31% Agro-Industrial & +16% 1Q18 1Q19 Commodities Net Income, +3% • Growth of coffee in t

  5. Slide 5: CEB: Profits more-than-doubled on higher passenger volume and yields

    CEB: Profits more-than-doubled as a result of higher passenger volume and yields Revenue, +16% Sales Breakdown 21.2 18.3 19% % chg vs LY Passenger +15% 7% 74% Cargo +13% Ancilliary +23% Revenue 1Q18 1Q19 Net Income, +138% 3.4 • Topline accelerated on the back of higher passenger volumes, robust carg

  6. Slide 6: RLC: Earnings growth momentum was sustained

    RLC: Earnings growth momentum was sustained Revenue, +7% Sales Breakdown % chg vs LY 6.3 6.8 Malls +9% 29% Offices +30% 46% Hotels +10% IID +7% 7% -7% Residential 17% 1Q18 1Q19 Net Income, +19% » Revenues were driven by the stable growth of 1.8 its investment portfolio (malls, office, hotels & 1.5 I

  7. Slide 7: Petrochem: Margins squeezed due to lower selling prices and higher cost naphtha

    Petrochem: Margins squeezed due to lower selling prices and higher cost naphtha Revenue, -8% EBITDA, -105% Net Income, -188% 10.4 9.6 1.3 0.8 1Q18 1Q19 -0.1 -0.7 1Q18 1Q19 1Q18 1Q19 » In spite of slightly higher total volumes, SALES VOLUME (MT) 1Q18 1Q19 %chg overall sales decreased due to lower ave

  8. Slide 8: Robinsons Bank: Topline growth maintained but profits dropped on higher funding costs

    Robinsons Bank: Topline growth maintained but profits dropped on higher funding costs Gross Revenue Net Interest Income Loans +40% +5% 70.3 1.9 +23% 56.9 0.8 0.9 24.4 +38% 1.4 17.7 39.2 45.9 +17% 1Q18 1Q19 1Q18 1Q19 1Q18 1Q19 Commercial Consumer Consolidated (Php Bn) 1Q18 1Q19 Growth » Consolidated

  9. Slide 9: JGS: Balance sheet remains healthy

    JGS: Balance sheet remains healthy Consolidated Parent Dec 2018 Mar 2019 Growth Dec 2018 Mar 2019 Growth Cash(1) 50.3 54.1 8% Cash 15.9 16.3 2% Financial Debt 245.7 249.7 2% Total LT Debt 88.5 88.5 0% Total LT Debt 210.2 208.9 -1% Total ST Debt 5.1 4.2 -17% FX-Denominated 110.8 110.3 0% Net Debt 77.

  10. Slide 10: Petrochem, CEB and RLC mainly contributed to 1Q2019 CAPEX Spending

    Petrochem, CEB and RLC mainly contributed to 1Q2019 CAPEX Spending 1Q19 CAPEX Spending • Capacity expansion of 87.5 BCF Int’l, Sugar and Flour • Land acquisitions 32.4 • Development of malls, offices, hotels and warehouse facilities 18.1 • Aircraft acquisition 27.1 • Maintenance and 16.2 expansion p

  11. Slide 11: Key Business Updates

    Key Business Updates HOLDINGS, INC.

  12. Slide 12: Business Updates, Plans and Prospects

    Business Updates, Plans and Prospects ▪ Launched new white coffee variants with robust investments in A&P and distribution ▪ Rolling out across business units the new Innovation Process Management coupled with re-aligned organization between marketing and Global Innovation ▪ Announced long term sust

  13. Slide 13: Thank you!

    Thank you! For more information, please contact: JG Summit Investor Relations [email protected] +632 470 3919 13

  14. Slide 14: Appendix

    Appendix HOLDINGS, INC.

  15. Slide 15: Corporate Structure

    Corporate Structure Food & Beverage Air Transportation Stake: 55.3% Real Estate Mkt Cap: ₱352.9 bn Att Mkt Cap: ₱195.0 bn Stake: 67.8% Stake: 61.0% Mkt Cap: ₱48.7 bn Mkt Cap: ₱119.7 bn Att Mkt Cap: ₱33.0 bn Att Mkt Cap: ₱73.0 bn Petrochemicals Banking Market Capitalization ₱434.8 bn Stake: 100% Stak

  16. Slide 16: Balance Sheet

    Balance Sheet (Php Millions) As of Dec 2018 As of Mar 2019 Cash & cash equivalents (including Financial 76,761 79,767 assets at FVPL and financial assets at FVOCI) Other current assets 194,362 137,734 Investments in Associates and JVs - net 144,915 143,983 Property, plant, and equipment 218,274 227,

  17. Slide 17: Income Statement

    Income Statement 1Q18 (Php Millions) 1Q19 YoY (As Restated) REVENUES 70,146 76,262 9% Cost of sales and services 45,640 48,565 6% GROSS INCOME 24,506 27,697 13% Operating Expenses 12,600 14,321 14% OPERATING INCOME 11,906 13,376 12% Financing costs & other charges (2,084) (2,829) 36% Foreign exchang

  18. Slide 18: Performance of Minority Investments

    Performance of Minority Investments In PHP Billions in SGD Millions In PHP Billions REVENUES REVENUES REVENUES 70.8 75.4 185.3 165.7 6.3 5.8 1Q18 1Q19 1Q18 1Q19 1Q18 1Q19 NET INCOME* NET INCOME* NET INCOME* 5.3 5.7 81.1 0.7 60.2 0.3 1Q18 1Q19 1Q18 1Q19 1Q18 1Q19 *from operations, attributable to equ

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