Gt Capital Holdings, Inc. · PSE:GTCAP
Gt Capital — FY2019 Earnings Presentation
38 slides from Gt Capital's earnings presentation, Mar 31, 2020
Slide 1: Full-Year 2019 Financial and Operating Results
Full-Year 2019 Financial and Operating Results 31 March 2020
Slide 2: Table of Contents
Table of Contents GT Capital Group FY 2019 Financial Highlights 3 Net Income Contribution 4 Net Income Contribution by Sector 5 Banking Sector Highlights 6 Metropolitan Bank and Trust Company (Metrobank) 11 Automotive Sector Highlights 14 Toyota Motor Philippines (TMP) 18 Property Development Sector
Slide 3: GT Capital Group FY 2019 Financial Highlights
GT Capital Group FY 2019 Financial Highlights Consolidated Net Income +54% Php20.3 billion* (MBT +28%, FLI +56% , TMP +14% , MPIC +69%) Php13.2 billion FY 2018 Php15.8 billion Core Net Income (FV adjustments, Gain on disposal of PCFI, MPIC gain) +22% Php12.9 billion FY 2018 Php222.9 billion Revenues
Slide 4: GT Capital Net Income Contribution 2019
GT Capital Net Income Contribution 2019 MBT + TMP = 72.9% MBT + TMP = 69.9% 2018 2019 4
Slide 5: GT Capital Net Income Contribution by Sector
GT Capital Net Income Contribution by Sector Property 6.5% 2018 2019 *Property includes gain on redemption of PCFI shares Php3.5B 5
Slide 6: Banking
Banking 1 GT CAPITAL HOLDINGS INCORPORATED
Slide 7: Macroeconomic Highlights
Macroeconomic Highlights Source: BSP 7
Slide 8: Peer Banks Highlights FY2019
Peer Banks Highlights FY2019 Net Interest Margin – NIMs (%) Total Loans (Php Billion) +2 bps +9% industry growth +7% +7% +9% CASA Deposits (Php Billion) Total Assets (Php Billion) +8% industry growth +8% industry growth +9% +8% +3% +11% +6% +6% Source: 17-C Report of Banks as of 31 December 2019 8
Slide 9: Peer Banks Highlights FY2019
Peer Banks Highlights FY2019 Net Interest Income (Php Billion) NII/Total Revenue (%) +12% Cost-to-Income Ratio (In %) Source: 17-C Report of Banks as of 31 December 2019 9
Slide 10: Peer Banks Highlights FY2019
Peer Banks Highlights FY2019 Total Equity (Php Billion) Total Capital Adequacy Ratio and CET1 (%) +9% 10.5% min CET1 Source: 17-C Report of Banks as of 31 December 2019 10
Slide 11: Metrobank
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Slide 12: Metrobank Financial Highlights
Metrobank Financial Highlights Operating Income § NII +12% (73% of OI) +16% ₋ NIMs 3.82% to 3.84% ₋ Loan portfolio +6.7% (Php93B) from Php1.39T to Php1.48T vs. Industry +10.9% 106.1 o Commercial +7% 91.7 in Php Billion § Non-Interest Income o Consumer +5% (Auto 0%, Home +2% and Credit +27% Card +23%
Slide 13: Loan Portfolio
Full-Year 2019 Results Credit demand driven by solid economic growth Loan Portfolio (PHP Billion) Total Loan Portfolio Breakdown +7% +5% +7% Consumer Loan Portfolio Breakdown Credit Cards Auto +23% unch Home +2% Source: 17-C Report of Banks as of 31 December 2019 13
Slide 14: Automotive
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Slide 15: Overall Market Share FY2019
Automotive Sector Updates Overall Market Share FY2019 1Q: 35% 2Q: 41% 3Q: 40% 24,243 Unit difference No.1 No.1 No.1 Passenger Commercial Overall Car Sales Vehicle Sales Sales Source: Company data, CAMPI, AVID 15
Slide 16: Auto Industry Market Share FY2019
Automotive Sector Updates Auto Industry Market Share FY2019 Passenger Car Commercial Vehicle 1Q: 39% in 12M 1Q: 33% in 12M 2Q: 45% 2Q: 39% 3Q: 42% 3Q: 39% 30.3% overall 69.7% overall 33.2% Toyota 66.8% Toyota Source: Company data, CAMPI, AVID 16
Slide 17: FY2019 Segment Share Update
FY2019 Segment Share Update Launch dates Entry SUV May 2018 50% Sub-Compact PC July 2018 39% Medium PC Dec 2018 77% Utility Van Feb 2019 57%
Slide 18: Toyota Motor Philippines
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Slide 19: Retail auto unit sales volume
Retail auto unit sales volume As of December 2019 YTD In Units FY 2019 results: Industry o Reduced the backlog on Alphard and 2 ▲ % Land Cruiser o Highest unit sales for the year in Y-o-Y October 2019 (16,403 units) Toyota o Record-high Vios monthly unit sales 6 ▲ % 3,238 in November 2019 o Successf
Slide 20: TMP Financial Highlights
TMP Financial Highlights Revenues § Wholesale +5.1% 163,493 units; +6% § Retail+5.5% (vs 2.4% Industry) o CKD units up 20.4% in Php Billion o CBU units down -1.0% due to lower Fortuner, Wigo, and Avanza § Retail: Net Income ATP o PCs: Vios +29%, Wigo -14% o CVs: Hilux +14%, Innova +14%, +15% Hiace +
Slide 21: CARS Unit Sales Progress
CARS Unit Sales Progress Units sold of Toyota Vios since launch of CARS Program model launched in July 2018 to date (cumulative) Dec 2019 Dec 2018 44,500 June 2019 11,336 Sept 2018 March 2019 26,933 Aug 2018 3,503 18,423 Within CARS sales 1,658 volume commitment Introduction of FMC Vios July 2018 22
Slide 22: Property Development
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Slide 23: Residential Supply and Demand
RESIDENTIAL SUPPLY AND DEMAND Managed growth for new launches Forecasted Supply Source: Average Estimates of Colliers Philippines, Leechiu Property Consultants, JLL, Deutsche Bank, 2019 23
Slide 24: Office Supply and Demand
OFFICE SUPPLY AND DEMAND FY2019 office supply exceeds demand; Office supply and vacancy expected to decline by 2020 6.0% 6.0% 5.8% 5.9% 5.0% 5.3% 4.9% 4.0% 3.0% Vacancy Rate (Cumulative) Source: Average estimates of Leechiu Property Consultants, Colliers Philippines, Pronove Tai, Deutsche Bank, 2019
Slide 25: Federal Land
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Slide 26: Federal Land Financial Highlights
Federal Land Financial Highlights Revenues § Reservation sales +96% Php12.4B to Php24.2B -2% § Launched 6 new projects: The Estate, Mi Casa, Quantum Amethyst, Marco in Php Billion 2.9 Polo Park Place, Grand Midori Ortigas, +26% TSR Natsu exc. Php2.9B lot 10.5 § Real estate sales (exc. lot sale Php2.
Slide 27: Project Launches
Project Launches Number of units are all estimates and subject to change Mi Casa Tower 1 The Estate BAY AREA, PASAY AYALA AVENUE Feb 2019 March 2019 188 units, Php18.9B (JV 50%) 158 units, Php3.9B Quantum Marco Polo Residences Residences Tower 2 (Amethyst) Tower 5 TAFT AVENUE CEBU Aug 2019 Sept 2019
Slide 28: Insurance
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Slide 29: The Philippines is one of the fastest-growing insurance markets in the world
The Philippines is one of the fastest-growing insurance markets in the world Philippines Life: 1.24% Non-Life: 0.55% Total: 1.79% CAGR in percent (%)x Source: SwissRe global reinsurance company, October 2018 Source: MunichRe, December 2017 29
Slide 30: AXA Philippines
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Slide 31: AXA Philippines Financial Highlights
AXA Philippines Financial Highlights Gross Premium Life §APE -5% Php7.1B to Php6.8B Low unit- linked product sales as investors opted for 35.37 32.08 -9% bank products due to market volatility in Php Billion Regular Premium (RP) +4% New Business Mix § AXA -11% ■Protection & Health +40% § CPAIC -2% ■
Slide 32: Strong synergy and growth
Strong synergy and growth • Exclusive financial advisors: 7,045 vs 5,272 in 2018 • Total bancassurance (Metrobank and PSBank) branches: 957 • AXA branches nationwide: 65 • Persistency Ratio: 82.7% Assets Under Management +12% In Billion PHP 32
Slide 33: Infrastructure and Utilities
Infrastructure and Utilities 33
Slide 34: Infrastructure Project Updates
Infrastructure Project Updates 2019 project openings 34
Slide 35: Metro Pacific Investments
PACIFIC Ds INVESTMENTS GT CAPITAL HOLDINGS INCORPORATED
Slide 36: Metro Pacific Financial Highlights
Metro Pacific Financial Highlights Share in Operating Net Income (Core) §Power 19.6 20.9 +7% oMeralco - Core NI +6% Php23.8B in Php Billion oGBPC - Core NI +11% Php2.7B ■ Rail ■ Hospitals ■ Water §Toll Roads - Core NI +18% Php5.3B ■ Toll ■ Power §Water - Core NI flat Php7.7B ■ Logistics §Hospitals -
Slide 37: Thank You!
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Slide 38: Investor Relations contact details
For your queries and comments, you may contact the Investor Relations Department at IR@gtcapital.com.ph Mr. Jose “Joey” B. Crisol, Jr. First Vice President and Head of Investor Relations, Strategic Planning and Corporate Communication jose.crisol@gtcapital.com.ph Mr. David Louis Augustus Mr. Bruce R