Lt Group, Inc. · PSE:LTG
Lt — FY2023 Earnings Presentation
9 slides from Lt's earnings presentation, Mar 18, 2024
Slide 1: FY2023 Analysts' Briefing Financial Results
Board Click toFY2023 Meeting ANALYSTS’ edit Master BRIEFING title style Financial Results May 9, 2023 March 18, 2024 3/12/2024 1
Slide 2: Consolidated Income Statement Highlights
Consolidated Income Statement Highlights (In Php Billions) 2023 2022 Inc/ (Dec) % Change REVENUES Banking 66.55 50.84 15.71 30.9% Beverage 16.41 16.22 0.19 1.2% Distilled Spirits 29.88 31.56 (1.68) (5.3%) Property Development 2.45 2.25 0.20 8.9% Tobacco - - - Total Revenues 115.29 100.87 14.42 14.3%
Slide 3: Net Income by Segment
Net Income by Segment (In Php Millions) Net Income LTG's Share in Net Income Y-o-Y Change Segment 2023 2022 2023 % to total Inc/(Dec) % 2022 % to total Tobacco 11,379 15,337 11,333 45% (3,943) -26% 15,276 61% Banking 19,022 11,766 10,747 42% 4,136 63% 6,611 26% Distilled Spirits 1,566 1,469 1,558 6%
Slide 4: Consolidated Balance Sheet Highlights
Consolidated Balance Sheet Highlights (In Php Billions) As of: Dec '23 Dec '22 Inc/(Dec) % Change Cash 243.8 224.8 19.0 8.5% Total Assets 1,327.4 1,268.1 59.3 4.7% Total Liabilities 1,027.2 991.5 35.7 3.6% Total Equity 300.2 276.7 23.6 8.5% D-E Ratio 3.42 3.58 (0.16) D-E Ratio (w/o bank) 0.12 0.14 (
Slide 5: Income Statement (Tobacco)
Income Statement (In Php Millions) 2023 2022 Inc/(Dec) % Segment Revenue - - - Cost of Sales - - - Gross Profit - - - Equity in Net Earnings fr PMFTC 11,066 15,462 (4,396) (28%) 11,066 15,462 (4,396) (28%) Operating Expenses 282 298 (16) (5%) Operating Income 10,784 15,164 (4,380) (29%) Other Inc./(
Slide 6: Income Statement (Banking)
Income Statement (In Php Millions) 2023 2022 Inc/(Dec) % As of As of Balance Sheet Net Interest Income (In Php Billions) Dec '23 Dec '22 Interest Income 59,595 45,245 14,350 32% Interest Expense 15,002 7,917 7,085 89% COH & Due from Banks 243 224 44,593 37,328 7,265 19% FA at FVTOCI (AFS) 165 158 Ne
Slide 7: Income Statement (Distilled Spirits)
Income Statement (In Php Millions) 2023 2022 Inc/(Dec) % Sales Volume (liquor) 23.353 27.490 (4.137) (15%) Sales Volume (bio, ltr)* 40.671 58.498 (17.827) (30%) Segment Revenue* 29,952 31,621 (1,669) (5%) Cost of Sales 26,026 28,006 (1,980) (7%) Gross Profit 3,926 3,615 311 9% Gross Profit Margin 13
Slide 8: Income Statement (Beverage)
Income Statement (In Php Millions) 2023 2022 Inc/(Dec) % Segment Revenue 17,381 17,225 156 1% Cost of Sales 13,459 13,429 30 0% Gross Profit 3,922 3,796 126 3% Gross Profit Margin 23% 22% +1%pt Operating Expenses 2,812 2,790 22 1% Operating Income 1,110 1,006 104 10% Equity in net income 42 61 (19)
Slide 9: Income Statement (Property Development)
Income Statement (In Php Millions) 2023 2022 Inc/(Dec) % Segment Revenue Residential 118 225 (107) (48%) Leasing 2,054 1,751 303 17% Cost of Sales Residential 56 225 (169) (75%) Leasing 1,106 927 179 19% Gross Profit Residential 62 - 62 100% Leasing 948 824 124 15% Gross Profit Margin Eton City Squa