Gt Capital Holdings, Inc. · PSE:GTCAP
Gt Capital — FY2017 Earnings Presentation
68 slides from Gt Capital's earnings presentation, Apr 3, 2018
Slide 1: Full-Year 2017 Financial & Operating Results
FULL-YEAR 2017 FINANCIAL & OPERATING RESULTS 3 April 2018 Grand Hyatt Manila gtcapital.com.ph
Slide 2: Ask a question
Ask a question Text us (Your name)(space)(Your company’s name) (space)(Your question) send to 0999 221 8554 STANDARD TEXT MESSAGING RATES APPLY 2
Slide 3: Metropolitan Bank & Trust Company Full-Year 2017 Financial Highlights
Metropolitan Bank & Trust Company Full-Year 2017 Financial Highlights 3
Slide 4: Banking
GT CAPITAL HOLDINGS INCORPORATED
Slide 5: Peer Banks Highlights
Peer Banks Highlights Net Interest Margin – NIMs (%) +18% industry growth Total Loans (Php Billion) 3.8% 3.5% 2.9% +17% +19% +16% 1,736 1,265 1,202 MBT BDO BPI BDO MBT BPI +12% industry growth +3% industry growth Total Assets (Php Billion) CASA Deposits (Php Billion) +11% +6% +12% +15% +11% +10% 1,5
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Slide 7: Disclaimer
PRIVATE AND CONFIDENTIAL Disclaimer ANY SECURITIES REFERRED TO HEREIN HAVE NOT BEEN REGISTERED WITH THE PHILIPPINE SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES REGULATION CODE OF THE PHILIPPINES. ANY FUTURE OFFER OR SALE OF THE SECURITIES IS SUBJECT TO THE REGISTRATION REQUIREMENT UNDER T
Slide 8: 2017 performance drivers
2017 performance drivers 2017 Operating Highlights Operating OperatingIncome Incomeand andOPEX OPEX(PHPbn) (PHPbn) PHP18.2bn net income; NII Trading & FX Other No-II OPEX Core income up 10% 19.0 Sustained double-digit growth in loans 17.4 3.9 (+19%) and low cost deposits (+12%) 17.0 8.6 2.1 NII
Slide 9: Peer Banks Highlights
Peer Banks Highlights Total Equity (Php Billion) Total Capital Adequacy Ratio and CET1 (%) +37% +3% +9% CAR CET1 297 202 14.4% 14.5% 181 12.9% 12.7% 11.8% 11.8% BDO MBT BPI Conglomerate Ownership in Peer Banks Ayala Corporation SM Investments 48.20% 40.08% 36.09% BPI BDO MBT BDO BPI Source: 17-A Rep
Slide 10: Metrobank Financial Highlights
Metrobank Financial Highlights CASA (Php Billion) Loans and Receivables (Php Billion) 846 950 +12% 1,265 +19% 1,061 FY 2016 FY 2017 FY 2016 FY 2017 Total Loan Portfolio Breakdown Consumer Loan Portfolio Breakdown Consumer Credit Cards 24% 21% Home +17% +19% 33% +8% Commercial Auto 76% 46% Growth rat
Slide 11: metrobank.com.ph
@ Metrobank metrobank.com.ph
Slide 12: GT Capital Holdings Full-Year 2017 Financial Highlights
GT Capital Holdings Full-Year 2017 Financial Highlights 12
Slide 13: Notice
Notice The information in this presentation has been prepared by GT Capital Holdings, Inc. (the "Company"). By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations and represent that you are a person who is p
Slide 14: Financial Highlights Full Year 2017
Financial Highlights Full Year 2017 Php14.2 billion Consolidated Net Income -3% Php14.6 billion 2016* *Includes GBP & CPAIC after tax gain on sale of Php2.9B Php15.0 billion Core Net Income +29% Php11.7 billion 2016 Php239.8 billion Revenues +19% Php202.1 billion 2016 TMP & TMBC - Auto Sales (TMP –
Slide 15: GT Capital Net Income Contribution
GT Capital Net Income Contribution TFSPH AXA PCFI TMBC PCFI TMBC TFSPH GBP 1.5% AXA 2.1% 1.3% 1.6% SMFC 1.9%3.4% 1.2% 3.0% 3.6% 0.1% CPA - MPIC MPIC 1.2% 9.6% 7.5% TMP Fed Fed TMP 41.0% Land Land 39.1% 8.0% 10.8% MBT MBT 31.0% 34.4% MBT + TMP = 72.0% MBT + TMP = 73.5% 2016 2017 15
Slide 16: GT Capital Net Income Contribution by Sector
GT Capital Net Income Contribution by Sector Infrastructure Insurance Infrastructure & Power 11% Insurance 3% 1% 13% Property 11% Automotive Automotive Property 11% 39% 49% Banking Banking 28% 34% 2016 2017 16
Slide 17: Property Development
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Slide 18: Growing tourist arrivals will help Federal Land's hotel business
Growing tourist arrivals will help Federal Land’s hotel business Foreign Visitor Arrivals to the Philippines Hotels 7 6.6 million foreign visitors in 2017 Visitor Arrivals (In Millions of People) 80% 6 70% Average Occupancy Rate 5 60% 4 50% 3 40% 30% 2 20% 1 10% 0 0% 2002 2003 2012 2013 2001 2004 20
Slide 19: Residential reservation sales take-up remains strong
Despite managed growth in launches, reservation sales take-up remains strong Metro Manila Residential Condominium Residential Launches and Reservation Sales (thousands of units) 70 60 59.5 50 53.6 52.6 51.6 Units (in ‘000s) 40 42.6 42.5 39.5 36.9 30 35.3 34.8 33.3 32.6 20 10 0 2012 2013 2014 2015 20
Slide 20: Land values continue to rise where Federal Land is present
In the locations where Federal Land is present, land values continue to rise Comparative Luxury 3BR Residential Land Values Residential (PHP / sq m) Makati to rise 350,000 BGC to rise 300,000 8 + % + 14% 285,000 275,000 305,000 265,000 250,000 240,000 245,000 200,000 Bonifacio 150,000 Makati CBD 100
Slide 21: Federal Land is present where demand for office space is
Federal Land is present where demand for office space is Vacancy rates, office space (%) 774,957 square meters Quezon City 10% taken up as of FY 2017 vs. 630,000 sq.m. in FY 2016 (+23%) Ortigas 8% Makati 3% Bay Area 3% Bonifacio 7% Alabang 6% Office Source: Leechiu Property Consultants, as of 31 Dec
Slide 22: Strong office take-up in full-year 2017, driven by IT-BPO
Strong office take-up in full-year 2017, still driven by the IT-BPO industry Industry Office Rental Take-Up Office Metro Manila, Full-Year 2017 IT-BPO Federal Land’s i-Met 4-tower PEZA accredited BPO complex, Bay Area, Pasay Source: Leechiu Property Consultants, as of February 2018 22
Slide 23: Federal Land
GT CAPITAL HOLDINGS INCORSORATED FEDERAL LAND GT Capital Holdings KEEPING YOU IN MIND
Slide 24: Federal Land Financial Highlights
Federal Land Financial Highlights Revenues Reservation Sales +37% from Php12.7B to Php17.4B 9.9 11.3 +14% - Inventory -26% from 1,734 units to 1,272 units (5 mos. of sales) in Php Billion 0.2 +17% 9.7 core - Only 4 new projects were launched due to delays in securing permits Core Non-core and
Slide 25: Project Launches
Project Launches 2011 2012 2013 2014 2015 2016 2017 7 11 5 4 3 4 5 25
Slide 26: Siena Residences
◄ Park Avenue GRAND CENTRAL PARK, BONIFACIO NORTH Launched January 2017 ► Siena Residences MARIKINA Launched August 2017 26
Slide 27: Palm Beach West
◄ Palm Beach West BAY AREA Siargao Tower Launched August 2017 Coron Tower Launched November 2017 27
Slide 28: Sunshine Fort
Sunshine Fort Grand Central Park, Bonifacio North • Total project cost: USD400 million • Located within 10- hectare Grand Central Park • JV between Federal Land, Nomura Real Estate • Isetan Mitsukoshi as anchor tenant and O&M partner • Q4 2020 28
Slide 29: Affordable Communities
Fi 1 GT CAPITAL HOLDINGS INCORPORATED s—~ Affordable Communities
Slide 30: Pro-Friends
GT CAPITAL HOLDINGS INCORPORATED. PRO «FRIENDS PROPERTY COMPANY OF FRIENDS, INC. Creating communities, transforming lives.
Slide 31: PRO-FRIENDS Financial Highlights
PRO-FRIENDS Financial Highlights Reservation Sales, 2015-2017 Real Estate Sales, 2015-2017 12 to 18 months lag from RES to Booked Sales Deliberate RES slowdown in 2016 to catch up on house 21.7 due to equity & POC buildup construction* +71% 12.2 *12.7 in Php Billion in Php Billion 6.7 6.7 6.3 2015 2
Slide 32: PRO-FRIENDS Financial Highlights
PRO-FRIENDS Financial Highlights Revenues Reservation sales +70% from Php12.7B to Php21.6B (Php1.8B per month) 7.4 -6% Real estate sales -6% from Php6.7B to Php6.3B in Php Billion 0.7 6.9 0.6 FY bank takeout Php7.8B (ave. of 6.7 6.3 Other Income Php650M/mo) RES FY houses built 5,537 unit
Slide 33: Construction Updates
Construction Updates ◄ Kensington Westwood Glenbrook Source: Pro-Friends Corp Comm 33
Slide 34: Soon to open
Soon to open at osx (kancaster PRO*FRIENDS New City Gi SHOP)WISE
Slide 35: Automotive
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Slide 36: Retail auto unit sales volume
Retail auto unit sales volume As of December 2017 473,376 Industry growth 18% Y-o-Y 402,461 ▲ Toyota growth 183,908 158,728 ▲ 16% Y-o-Y 12M 2016 12M 2017 Industry Toyota Source: Company data, CAMPI, AVID 36
Slide 37: Overall Market Share
Toyota continues to be the Philippines’ dominant auto company Overall Market Share As of December 2017 39% No.1 No.1 No.1 Passenger Commercial Overall Car Sales Vehicle Sales Sales 16% 8% 8% 7% 6% 5% 4% Mitsubishi Hyundai 3% Ford Honda 1% 1% Isuzu Nissan 1% 1% Suzuki Others General Motors Kia Mazda
Slide 38: Auto Industry Market Share
Toyota continues to be the Philippines’ dominant auto company Auto Industry Market Share As of December 2017 Passenger Car Commercial Vehicle 41% 38% 16% 17% 14% 11% 11% 9% 6% 5% 6% 4% 4% 3% 4% 2% 2% 1% 1% 1% 1% 1% 1% 1% 0% Source: Company data, CAMPI, AVID 38
Slide 39: Toyota Motor Philippines
TE am 5 en ae GT CAPITAL HOLDINGS INCORPORATED YEAR $ ALWAYS BETTER CARS. ALWAYS BETTER LIVES,
Slide 40: Toyota Financial Highlights
Toyota Financial Highlights Revenues Wholesale volume +13% 185.3 183,209 units; retail volume +16% 155.8 +19% Sales volume: (vs +18% industry growth) in Php Billion • Fortuner +39% Innova +35% Avanza +15% Hiace +6% Wigo +5% Fortuner, at 39,680 units sold, is the 2016 2017 best-selling vehicle
Slide 41: Dealership Expansion: New Dealerships in 2017
Dealership Expansion 11 New Dealerships in 2017 March March May Angeles Matina Talisay PAMPANGA DAVAO CEBU May July July Silang CAVITE Jan 2018 Calbayog Ilocos Aklan SAMAR Norte August August October Sta. Rosa Kidapawan Mabolo LAGUNA COTABATO CEBU November November Lapu-Lapu Iligan Calapan OR. MINDO
Slide 42: Dealership Expansion
Dealership Expansion Upcoming 2012 32 Tuguegarao (Isabela) 2013 42 2014 45 San Jose del Monte (Bulacan) 2015 49 Subic Bay (owned by GT 2016 52 Capital Auto Dealership 2017 63 Holdings, Inc.) 2018 To date 65 2018 Target 70 42
Slide 43: Philippines ranks 9th in world
1 United States 2,434,516 2 Japan 1,633,161 3 China 1,290,101 4 Indonesia 371,272 in the 5 6 Thailand Australia 240,137 225,266 WORLD 7 Canada 224,547 8 Brazil 190,862 9 Philippines 183,908 10 Saudi Arabia 178,768 11 India 140,561 12 Taiwan 128,256 in 13 14 U.K. South Africa 124,946 124,441 ASEAN 15
Slide 44: Insurance
A GT CAPITAL HOLDINGS INCORPORATED
Slide 45: Insurance Industry Updates
Insurance Industry Updates As of 31 December 2017 Total Assets Total Equity (Net Worth) +19% +17% in Php Billion in Php Billion 1,486 289 1,245 222 246 176 +26% 87 77 +13% 169 +20% 202 1,069 +18% 1,264 2016 2017 2016 2017 Total Premiums in Php Billion +10% Legend 246 289 Life insurance sector 79 +9%
Slide 46: The Philippines is one of the fastest-growing insurance markets
The Philippines is one of the fastest- growing insurance markets in the world Projected 10-year CAGRs of industry-wide life insurance premiums by country Top 15 fastest growing markets, 2017-2025 % CAGR UAE 10 Indonesia 9.2 Philippines Philippines 9.1% China 8.8 Brazil 8.1 Colombia 7.2 Mexico 6.9 Th
Slide 47: 47
47
Slide 48: Strong synergy and growth
Strong synergy and growth • Persistency Ratio: 84.2% from 82.7% in 2016 • Exclusive financial advisors: 3,665 • Total bancassurance (Metrobank and PSBank) branches: 952 Assets Under Management +27% 107.2 84.6 In Billion PHP 2016 2017 48
Slide 49: AXA Financial Highlights
AXA Financial Highlights Gross Premium Life: New Business (APE) +27% from Php5.0B to Php6.3B 31.6 +20% oo Regular Premium (RP) +29% in Php Billion 26.3 Single Premium (SP) +20% 21.6 26.4 Life +22% Non-Life: Gross written premium +16% 5.3 Non-Life+13% Php4.9B to Php5.7B 4.7 o Motor +36% 2016
Slide 50: Infrastructure & Utilities
Infrastructure & Utilities 50
Slide 51: Rising Philippine Infrastructure Budget
Rising Philippine Infrastructure Budget Php1,898.8 billion 7.4% of GDP Php847.2 2022 billion 5.3% of GDP Php175.4 2017 billion 1.8% of GDP 2011 Source: University of Asia and the Pacific 51
Slide 52: Metro Pacific Investments
PACIFIC ass INVESTMENTS
Slide 53: Metro Pacific Financial Highlights
Metro Pacific Financial Highlights Operating Net Income MPIC’s share: 15.1 17.8 +18% Power +30% Php9.4B Water +5% Php3.7B in Php Billion 0.28 Tollways +11% Php3.9B Logistics / Indra 0.27 0.7 0.6 LRMC/AFPI Hospitals +16% Php0.7B 7.2 9.4 Hospitals 3.5 3.9 Meralco/Beacon/GBPC 3.6 3.7 MPTC Rai
Slide 54: Component Company Updates
Component Company Updates 54
Slide 55: Number One Philippine auto company
Number One Philippine auto company in 28 of the last 30 years 55
Slide 56: Participant in the CARS Program
Official participant to the government’s Comprehensive Auto Resurgence Strategy (CARS) Program To be launched July 2018 56
Slide 57: CARS Program Updates
CARS Program Updates Comprehensive Automotive Resurgence Strategy Php1.03 billion Vehicle Php5.24 production billion Total Toyota CARS Project Investment Plan as of Sept 2017 Php4.21 billion Parts projects 57
Slide 58: CARS Program Updates: New in-house manufacturing capabilities
CARS Program Updates Comprehensive Automotive Resurgence Strategy New in-house manufacturing capabilities • 3000T Plastic Injection System • 1600T AO Servo Press Machine • Stamping Dies • Roller Hemming System • Major equipment for press & resin parts 58
Slide 59: CARS Program Updates: Out-house parts projects
CARS Program Updates Out-house parts projects BOI-registered auto parts partners Php495.9 Php520.0 million million Php94.5 VALERIE PRODUCTS MANUFACTURING, INC. Php167.2 million million OGIHARA (THAILAND) CO., LTD. TECHNOL EIGHT Php1.3 PHILIPPINES CORP. billion Aggregate Investments Source: The Phili
Slide 60: CARS Program Updates: Large plastic parts
CARS Program Updates In-house parts projects approved on 7 June 2017 Large plastic parts manufacturing Machine installation/ trial 3Q 2017 Investment plan Php0.9 billion 24 Nov 2017 – Inauguration of TMP’s new plastic molding facility From left to right: TMP EVP for Manufacturing Tomohiro Iwamoto; T
Slide 61: CARS Program Updates: Press parts
CARS Program Updates In-house parts projects approved on 7 June 2017 Press parts (Body shell) Machine installation/ trial 1H 2018 Investment plan Php1.29 billion Stamping die storage expansion at Press Shop 61
Slide 62: New SUV to be launched May 2018
- il FEEL THE Rush OF SOMETHING GRAND. A NEW SUV IS COMING SOON. To be launched May 2018 CPTOYOTA 62
Slide 63: AXA is No. 1 again
An. AXA Is No. 1 again Top Global Insurance Brand for the 9th consecutive year 1. 42 nd Global Insurance Best Brand across all Best Global Brand Brand financial services , 46th in 2016 For the Sth consecutive year for the second year in a row #ProudtobeAXA As of 2017; Interbrand
Slide 64: CALAX Construction Updates
CALAX Construction Updates Ongoing right-of-way Cavite segment Target completion acquisition in 2020 Dedicated exit at Laguna segment Target completion in 2019 Source: Metro Pacific company data 64
Slide 65: Now Open
53 1,600 44,000 Retail and commercial Hectares of fully Household population locators developable land Now Open 65
Slide 66: Discover the allure of #LivingGrand
Discover the allure of #LivingGrand. WELCOME TO MANILA 66
Slide 67: Grand Hyatt Manila
MANILA 461 52 2,281 Square meters of Guestrooms Suites flexible event space 7 66 4 Restaurants, bars, Storeys total, Event Venues and food retail including office A T R U E S I X - S TA R H OT E L E X P E R I E N C E 67
Slide 68: gtcapital.com.ph
fo GT CAPITAL HOLDINGS INCORPORATED gtcapital.com.ph