Jg Summit Holdings Inc. · PSE:JGS
Jg Summit — H1 2024 Earnings Presentation
18 slides from Jg Summit's earnings presentation, Aug 12, 2024
Slide 1: 1H2024 Unaudited Results Investor Briefing
1H2024 Unaudited Results Investor Briefing 12 August 2024
Slide 2: Disclaimer
Disclaimer This presentation may contain certain forward- looking statements with respect to the financial condition, results of operations and business of JG Summit Holdings, Inc. and its subsidiaries (JGS), as well as plans and objectives of the management of JGS. Such forward looking statements i
Slide 3: 1H2024 Unaudited Results
1H2024 Unaudited Results JG SUMMIT HOLDINGS, INC
Slide 4: Strong demand for travel and leisure plus merger gains generated a twofold lift in 1H core net income
Strong demand for travel and leisure plus merger gains generated a twofold lift in 1H core net income In Php billion % change YoY • JGS saw double-digit expansion in its consolidated revenues for both 2Q and 1Q24 2Q24 1H24 1Q 2Q 1H 1H, led by increased demand for travel and recreation, elevated petr
Slide 5: URC: Enterprise-wide volume growth & sustained YoY margin expansion amidst muted consumer sentiment
URC: Enterprise-wide volume growth & sustained YoY margin expansion amidst muted consumer sentiment Revenue ▲3% by division • Revenue for 1H up 3% vs SPLY, driven by 7% volume growth across 78.3 80.7 all businesses, tempered by price-mix impact of -4% with the drop in % chg vs LY sugar selling price
Slide 6: RLC: Sustained profit improvement especially in Malls and Hotels lead to double-digit net income expansion
RLC: Sustained profit improvement especially in Malls and Hotels lead to double-digit net income expansion Revenue ▲ 8% by division % chg vs LY 20.0 • In 1H24, Malls, Hotels, and RLX posted steady topline growth, outpacing RLX & RDE 4% 18.4 5% +29% the decline in the Residential segment’s revenues,
Slide 7: CEB: Passengers carried hits record high as summer peak and school break propel demand
CEB: Passengers carried hits record high as summer peak and school break propel demand Revenue ▲18% • Revenues remained strong in both 1H and 2Q, driven by the continued by division growth of Passenger business. Average fares increased 6% while demand 51.4 % chg vs LY 43.6 increased with the summer
Slide 8: JGSOC: Subdued demand and narrow polymer spreads undermine increased operating activity
JGSOC: Subdued demand and narrow polymer spreads undermine increased operating activity Revenue ▲80% by division • Volume growth across all segments as higher utilization, more targeted 25.5 selling, and more disciplined pricing led to the improvement in 1H revenues % chg vs LY vs low base due to co
Slide 9: Core Investments
Core Investments EQUITY INCOME* EQUITY INCOME* DIVIDENDS RECEIVED DIVIDENDS RECEIVED 5.8 4.6 1.2 1.3 1.4 1.1 0.4 - 1H23 1H24 1H23 1H24 1H23 1H24 1H23 1H24 • 26% jump YoY on the • Robust hotel performance • Increase in regular • Received first cash back of higher distribution plus increase in rental
Slide 10: Ecosystem Plays
Ecosystem Plays • Onboarded 3.58 million customers and grew deposit book to Php 17.2 billion as of 1H24 • Fastest growing bank in the country, onboarding 250,000 depositors per month, bringing customer count as of end-July to over 3.8 million • Ranked #6 in Instapay and QR payments volume and #1 in
Slide 11: JGS: Solid financial foundation for continued growth
JGS: Solid financial foundation for continued growth Consolidated Parent Dec 2023 Jun 2024 % Chg Dec 2023 Jun 2024 % Chg Cash1,2 49.6 56.4 14% Cash1 12.2 13.3 9% Financial Debt 301.7 312.5 4% Total LT Debt 63.1 65.0 3% Total LT Debt 238.1 239.8 1% Total ST Debt 6.2 2.5 -60% FX-Denominated 81.5 94.0
Slide 12: CAPEX up 19% YoY primarily from investment efforts of CEB and RLC to boost capacity and expand footprint
CAPEX up 19% YoY primarily from investment efforts of CEB and RLC to boost capacity and expand footprint 46.5 1H24 2.4 38.9 • Continued investment in the development of the Malvar mega plant, which is expected to 3.3 12.1 Others accelerate in 2H24 9.5 RBank • Development of Opus Mall, offices (GBF 1
Slide 13: Sustainability Updates
Sustainability Updates We continue to deepen our sustainability commitment as we establish new heights in achieving sustainability credentials Educate Leaders Engage with Stakeholders Empower the Group Enable JGS Leaders through learning session Understand the expectations of our stakeholders on Col
Slide 14: Thank You!
IGst HOLDINGS, INC Thank You!
Slide 15: Appendix
IGst HOLDINGS, INC Appendix
Slide 16: Corporate Structure
Market Capitalization: Corporate Structure ₱191.0 bn Strengthen and drive the full potential of Leverage on the synergies available within Maximize value through their steady stream these BUs our extensive network of businesses of cash flows and capital appreciation Food & Beverage Infrastructure Po
Slide 17: Balance Sheet
Balance Sheet (Php Millions) As of Dec 2023 As of Jun 2024 Cash & cash equivalents (including Financial assets at FVPL and financial assets at FVOCI) 53,606 58,253 Assets held for sale 170,694 - Other current assets 173,638 173,207 Investments in Associates and JVs - net 152,001 157,783 Property, pl
Slide 18: Income Statement
Income Statement (Php Millions) 1H23 1H24 YoY REVENUES 163,085 187,842 15% Cost of sales and services 113,219 128,848 14% GROSS INCOME 49,866 58,994 18% Operating Expenses 26,876 31,215 16% OPERATING INCOME 22,990 27,779 21% Financing costs & other charges (7,299) (9,259) 27% Foreign exchange gain/