JG Summit Holdings Inc. · PSE:JGS

JG Summit — H1 2019 Earnings Presentation

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

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

    1H 2019 UNAUDITED RESULTS INVESTORS BRIEFING Lance Gokongwei President and CEO Mike Liwanag Senior Vice President

  2. Slide 2: Agenda

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

  3. Slide 3: Better SBU earnings growth and UIC's gain drove record Php10B net income in 2Q19

    JGS: Better SBU earnings growth and UIC’s gain on acquisition drove record Php10B net income in 2Q19 In billion pesos Growth (%) vs SPLY • Faster Q2 revenue growth was mainly driven by the acceleration in CEB, RLC and 1Q19 2Q19 1H19 Q1 Q2 1H Rbank, as well as UIC’s gain on acquisition • URC’s margin

  4. Slide 4: URC: Margin expansion driven by Branded Consumer Foods Group

    URC: Margin expansion driven by Branded Consumer Foods Group Q1 Q2 1H Revenue Revenue Breakdown, 1H2019 63.5 67.0 +6% % chg vs LY 22% Branded Consumer +10% 33.7 +3% Foods Philippines 32.8 48% Branded Consumer -4% Foods International 30.7 33.3 +9% 30% Agro-Industrial & +12% 2018 2019 Commodities Net

  5. Slide 5: CEB: Triple-digit profit growth sustained

    CEB: Triple-digit profit growth sustained Q1 Q2 1H Revenue Revenue Breakdown, 1H2019 44.7 +18% % chg vs LY 37.8 19% 23.5 +20% Passenger +18% 19.6 6% Cargo +7% 75% 18.3 21.2 +16% Ancilliary +24% Revenue 2018 2019 Net Income • Increase in passenger traffic and average 7.3 +121% fares, as well as highe

  6. Slide 6: RLC: Solid performance across all divisions

    RLC: Solid performance across all divisions Q1 Q2 1H Revenue Revenue Breakdown, 1H2019 % chg vs LY 14.7 +13% 13.1 Malls +11% 32% Offices +29% 8.0 +19% 6.7 46% Hotels +11% IID +369% 6.3 6.8 +7% 2% Residential +5% 7% 2018 2019 16% Net Income » 2Q topline was driven by the robust 4.0 performance of mal

  7. Slide 7: Petrochem: Net loss due to lower ASP and higher interest expense

    Petrochem: Net loss due to lower ASP and higher interest expense Q1 Q2 1H Revenue EBITDA Net Income 21.2 18.6 -12% 10.7 9.0 -16% 2.6 1.6 1.3 -98% 0.8 10.4 9.6 -8% 0.1 0.8 1.3 -91% -188% 0.1 -0.7 -0.1 -105% -0.6 -173% 2018 2019 -1.3 -181% 2018 2019 2018 2019 » Lower revenues in Q2 due to lower averag

  8. Slide 8: Robinsons Bank: Profits recovered in Q2 driven by wider NIMs

    Robinsons Bank: Profits recovered in Q2 driven by wider NIMs Revenues Net Interest Income Loans 71.4 +16% 3.9 61.7 +42% 26.1 +33% 2.7 19.7 +10% 2.0 +45% 1.7 1.9 1.4 +14% 42.1 45.3 0.9 1.0 +8% 1.9 +40% 1.4 0.8 0.9 +5% 1H18 1H19 2018 2019 2018 2019 Commercial Consumer Consolidated (Php Bn) 1H2018 1H20

  9. Slide 9: JGS: Balance sheet remains healthy

    JGS: Balance sheet remains healthy Consolidated Parent Dec 2018 Jun 2019 Growth Dec 2018 Jun 2019 Growth Cash(1) 50.3 60.5 20% Cash 15.9 19.6 23% Financial Debt 245.7 251.1 2% Total LT Debt 88.5 87.7 -1% Total LT Debt 210.2 200.2 -5% Total ST Debt 5.1 2.4 -54% Net Debt 77.6 70.5 -9% FX-Denominated 1

  10. Slide 10: Petrochem mainly contributed to the Group's 1H2019 CAPEX Spending

    Petrochem mainly contributed to the Group’s 1H2019 CAPEX Spending 1H19 CAPEX Spending 89.3 • Capacity expansion of BCF Int’l, Sugar and Flour • Land acquisitions 32.4 • Development of malls, offices, hotels and warehouse facilities • Aircraft acquisition 19.9 (2 A321NEO deliveries), flight and groun

  11. Slide 11: Key Business Updates

    Key Business Updates HOLDINGS, INC.

  12. Slide 12: Business Updates, Plans and Prospects

    Business Updates, Plans and Prospects  BCF Philippines’ topline to continue enabling reinvestments in brand building & distribution, International’s profit improvement to continue; and AIC to maintain its profit contribution  Grow the core through better trade execution support in coffee, expansio

  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 STRATEGIC BUSINESS UNITS (SBU) Food & Beverage Air Transportation Real Estate Petrochemicals Banking Stake: 55.3% Stake: 67.8% Stake: 61.0% Stake: 100% Stake: 60.0% Mkt Cap: ₱356.9 bn Mkt Cap: ₱55.0 bn Mkt Cap: ₱135.0 bn Att Mkt Cap: ₱197.2 bn Att Mkt Cap: ₱37.3 bn Att Mkt Cap: ₱

  16. Slide 16: Balance Sheet per 17Q

    Balance Sheet per 17Q (Php Millions) As of Dec 2018 As of Jun 2019 Cash & cash equivalents (including Financial 76,761 88,835 assets at FVPL and financial assets at FVOCI) Other current assets 137,544 139,045 Investments in Associates and JVs - net 144,915 149,147 Property, plant, and equipment 218,

  17. Slide 17: Income Statement per 17Q

    Income Statement per 17Q (Php Millions) 1H18 1H19 YoY REVENUES 144,383 158,438 10% Cost of sales and services 94,474 99,262 5% GROSS INCOME 49,909 59,176 19% Operating Expenses 25,942 28,326 9% OPERATING INCOME 23,968 30,849 29% Financing costs & other charges (4,442) (5,878) 32% Foreign exchange ga

  18. Slide 18: Performance of Minority Investments

    Performance of Minority Investments In PHP Billions in SGD Millions In PHP Billions REVENUES REVENUES REVENUES 165.0 13.3 12.5 150.5 404.0 348.1 1H18 1H19 1H18 1H19 1H18 1H19 NET INCOME* NET INCOME* NET INCOME* 12.0 12.0 490.4 1.3 1.1 171.4 1H18 1H19 1H18 1H19 1H18 1H19 *from operations, attributabl

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