JG Summit Holdings Inc. · PSE:JGS
JG Summit — FY2022 Earnings Presentation
19 slides from JG Summit's earnings presentation, Mar 29, 2023
Slide 1: FY2022 Results Analysts' Briefing
FY2022 Results Analysts’ Briefing March 29, 2023 Lance Y. Gokongwei President & Chief Executive Officer Mike P. Liwanag Chief Strategy Officer 1
Slide 2: Agenda
Agenda ● FY2022 Results and Key Business Updates ● Sustainability Targets 2
Slide 3: FY2022 Results and Key Business Updates
FY2022 Results and Key Business Updates 3
Slide 4: Record-high revenues plus parent's portfolio management gains boost core net income by 100%
Record-high revenues plus the parent's portfolio management gains boost core net income by 100% YoY • Strong topline performance of JGS’ consumer-facing FY21 FY22 % YoY businesses brought the group’s total revenues to a new record high, surpassing pre-COVID levels Revenues 230.6 312.4 +36% • Two-fol
Slide 5: URC: Strong sales momentum fueled double-digit growth in profits from continuing operations
URC: Strong sales momentum fueled double-digit growth in profits from continuing operations Revenue* ▲28% % chg vs LY • Double digit growth across all segments led to record high 149.9 revenues, on the back of robust demand 28% +26% 117.0 • Strong topline performance coupled with programmed 29% +46%
Slide 6: RLC: Historic net profit level from surge in Malls, Hotels, and Residential
RLC: Historic net profit level from surge in Malls, Hotels, and Residential, coupled with stable growth in Offices Revenue ▲22% % chg vs LY • Strong revenue expansion across business units, 43.4 led by Malls, Residential, and Hotels, plus higher 1% 35.6 Int Dev -78% recognized sales from its China p
Slide 7: CEB: Post-pandemic travel demand propelled the recovery of Passenger business
CEB: Post-pandemic travel demand propelled the recovery of Passenger business • Systemwide revenue soared by 261% due to the Revenue ▲261% triple-digit growth of Passenger and Ancillary 56.8 % chg vs LY businesses and steady increase in Cargo 25% Ancillary +386% • Margins continue to be affected by
Slide 8: JGSOC: Contributions from new products cushioned the decline in polymer sales
JGSOC: Contributions from new products cushioned the decline in polymer sales; facility gearing up for the recovery in petrochem cycle Revenue ▼11% EBITDA Net Income (Loss) 3.1 40.3 35.9 (2.1) (8.0) (14.9) FY21 FY22 FY21 FY22 FY21 FY22 Polymer price downtrend, high inventory levels and inflationary
Slide 9: RBank: FY2022 numbers up on the back of loan expansion
RBank: FY2022 numbers up on the back of loan expansion despite rapidly increasing interest rates Gross Revenues ▲15% Net Interest Income ▲14% Net Income ▲13% • Double-digit expansion in gross loan portfolio with faster growth 10.6 in consumer book 9.3 7.8 • Asset quality improved with 6.8 lower NPL
Slide 10: Core Investments
Core Investments EQUITY INCOME* EQUITY INCOME* DIVIDENDS RECEIVED 7.8 6.7 2.7 3.0 2.8 2.0 FY21 FY22 FY21 FY22 FY21 FY22 • Surge in its hotel revenues, • Strong contribution from its • Regular dividends totaled Php89 higher residential property Singapore power generation per share in 2022 vs Php82 pe
Slide 11: Ecosystem Plays
Ecosystem Plays JG Digital Equity Ventures (JGDEV) Luzon International Premier Airport Development Corp. (LIPAD) • DEV Fund I is now effectively fully • Clark International Airport achieved a deployed, with a portfolio of 13 passenger count increase of 299% vs 2021 companies covering e-commerce, • R
Slide 12: JGS: Balance sheet remains robust amidst VUCA
JGS: Balance sheet remains robust amidst VUCA Consolidated Parent Dec-21 Dec-2022 Growth Dec-21 Dec-22 Growth Cash1,2 85.2 91.5 8% Cash1 26.5 47.3 78% Financial Debt 298.5 329.6 10% Total LT Debt 97.3 97.7 0% Total ST Debt - 4.8 NM Total LT Debt 232.5 237.7 2% Net Debt 70.8 55.2 -22% FX-Denominated
Slide 13: Lower CAPEX vs 2021; bulk spent on RLC
Lower CAPEX vs 2021; bulk spent on RLC 45.7 FY2022 44.8 • Capacity expansion and 12 9 automation • Development of Malls, Offices, Others Hotels, and Warehouse facilities • Acquisition of land 17 • Construction costs 15 RBank JGSOC • Limited to acquisition of buyer furnished equipment, rotables, 6 RL
Slide 14: ESG Update
ESG Update Our groupwide ESG targets under 5 focus areas have been finalized Employee Growth Climate Action and Well-Being • Low carbon transition roadmap • Zero lost-time incident annually released by 2025, as we aspire to • JGS employees receive an average of 24 achieve a net zero by 2050 training
Slide 15: Thank You!
Ics HOLDINGS. INC. Thank You! re | |! ;
Slide 16: Appendix
Ics HOLDINGS. INC. Appendix rl | |! ;
Slide 17: Corporate Structure
Corporate Structure Market Capitalization: ₱381.3 bn CORE BUSINESSES ECOSYSTEM PLAYS GROWTH BUSINESS CORE INVESTMENTS Strengthen and drive the full Leverage on the synergies Accelerate and invest in new Maximize value through their potential of these BUs available within our extensive verticals with
Slide 18: Balance Sheet (per 17A)
Balance Sheet (per 17A) (Php Millions) As of Dec 2021 As of Dec 2022 Cash & cash equivalents (including Financial assets 128,609 95,568 at FVPL and financial assets at FVOCI) Other current assets 177,658 326,072 Investments in Associates and JVs - net 146,034 143,295 Property, plant, and equipment 2
Slide 19: Income Statement (per 17A)
Income Statement (per 17A) (Php Millions) FY21 FY22 YoY REVENUES 221,280 301,908 36% Cost of sales and services (164,151) (232,553) 42% GROSS INCOME 57,128 69,355 21% Operating Expenses (47,215) (51,091) 8% OPERATING INCOME 9,913 18,264 84% Financing costs & other charges (9,111) (11,133) 22% Foreig