Gt Capital Holdings, Inc. · PSE:GTCAP
Gt Capital — 9M 2024 Earnings Presentation
40 slides from Gt Capital's earnings presentation, Nov 14, 2024
Slide 1: Nine Months 2024 Financial and Operating Results Briefing
Built on Trust and Partnerships Nine Months 2024 Financial and Operating Results Briefing via Zoom Thursday, 14 November 2024 2:30 PM For more information, Visit gtcapital.com.ph/investor-relations or contact IR@gtcapital.com.ph
Slide 2: Macroeconomic Highlights
Built on Trust and Partnerships Macroeconomic Highlights GT Capital Nine Months 2024 Financial and Operating Results Briefing
Slide 3: Macroeconomic Indicators
Macroeconomic Indicators GDP GDP Quarterly (%YoY) 5.2% 3Q 2024 5.6 5.5 6.0 6.4 12.0 7.8 8.2 7.5 7.6 7.1 6.4 6.3 5.2 4.3 6.0 5.5 5.8 5.8% YTD 2024 Pre-Pandemic Years 6.9 6.0% 3Q 2023 5.6% FY 2023 -0.7 -3.9 “Q4 needs to reach 6.5% to meet FY target. We are • Consumption +5.1% -8.3 confident that with
Slide 4: Macroeconomic Indicators
Macroeconomic Indicators OFW USD B %YoY Other Macroeconomic Indicators 3.1% 3.6% Remittances 2.3% 3.4% 3.0% 3.4% 2.6% 3.4% 2.8% 3.1% 3.3% (In USD B) FDI 8.7 8.4 9.4 9.6 8.9 8.7 9.7 10.0 9.2 9.0 USD6.07B net inflows USD24.74B 6.6 As of Aug 2024+3.9%YoY Jan-Aug 2024, +3.0%YoY GIR 1Q 22 2Q 22 3Q 22 4Q
Slide 5: Macroeconomic Indicators
Macroeconomic Indicators Inflation PH Inflation US Inflation Inflation expected to ease Institution FY24 Est. Prev. Est. 2.3% Oct 2024 “Proposed Trump policies to increase tariffs across the board and aggressive tax cuts may BSP 3.4% ▼ 3.7%-4.5% 8.7% result in inflationary pressure.” - Bloomberg Blo
Slide 6: Macroeconomic Indicators
Macroeconomic Indicators BSP Policy Rate USDPHP Fed Funds Rate BSP Rate -50 bps 7.00 Peak Oct 13, 2022 BSP Off-Cycle 60 Jan-Oct 2024 Rate Hike +25 bps 6.50 PHP 59.00/USD 6.25 Oct. 27, 2023 6.25 6.00% 6.00 6.0 6.00 58 5.50 5.50 5.25 Fed Funds Rate 5.00 5.00 56 -75 bps 4.50 5.00 4.75 Key Policy Rate (
Slide 7: Summary
Summary Macroeconomic Highlights • Philippine GDP remains stable with year-to-date expansion at +5.8% • The government is optimistic that its 6% to 7% growth target for 2024 is within reach on the back of seasonal holiday spending, lower commodity prices, and the robust labor market. • Inflation set
Slide 8: Consolidated Financial Highlights
Built on Trust and Partnerships Consolidated Financial Highlights GT Capital Nine Months 2024 Financial and Operating Results
Slide 9: GT Capital Financial Highlights 9M 2024 Consolidated Net Income
GT Capital Financial Highlights 9M 2024 Consolidated Php21.72 Billion1 Php23.09 Billion2 -6% Net Income 9M 2024 9M 2023 1) Includes FLI’s sale of Ortigas lot & Kalayaan lot to TMP (-P196M, +P189M) 2) Includes lot sales to FNG (GT P2.65B, FLI P0.59B) & share in TMP’s CARS incentives P0.22B Net Income
Slide 10: GT Capital Financial Highlights 9M 2024
GT Capital Financial Highlights 9M 2024 Revenues Revenues Gross Premium Share in Opr. Core Inc. Revenues Php109.8B +10% Php9.5B -28% Php22.6B +16% Php24.3B +21% Php179.8B +10% Net Income Net Income Net Income Core Net Income Net Income Php35.7B* +12% Php652M -65% Php2.0B -2% Php20.8B* +28% Php12.2B*
Slide 11: GT Capital Net Income Contribution per Sector 9M 2024
GT Capital Net Income Contribution per Sector 9M 2024 Others Property Others Property 5% 9%* 4% 3% Infra Infra 12% Auto 15% Auto 26% 25% Banking Banking 50% 52% 9M 2023 9M 2024 Banking + Auto = 75% Banking + Auto = 78% *Includes Php3.9 billion lot sale in 2Q 2023 for Fed Land 11
Slide 12: Operating Company Highlights
Built on Trust and Partnerships Operating Company Highlights GT Capital Nine Months 2024 Financial and Operating Results Briefing
Slide 13: Metrobank Financial Highlights
S Metrobank You're in good hands years of service Financial Highlights <4 GT CAPITAL » 48 HOLDINGS INGO CORATEO
Slide 14: Metrobank Financial Highlights 9M 2024
Metrobank Financial Highlights 9M 2024 MBT Gross Loan Growth vs. PH GDP Growth PHP 1.7T MBT Gross Loans (%YoY) PH GDP (%YoY) 14% 12% 15% 16% 9% 12% 9% 12% 5% 12% 8% 7% 7% 8% 6% 8% 5% 8% 8% 6% 6% 7% 4% 6% 6% 6% -4% -1% -3% -4% -1% -10% -8% -11% -17% -12% -13% -17% 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4
Slide 15: Summary of Key Results
Summary of Key Results • Record earnings of Php35.7B +12% in 9M 2024, higher than the previous record of Php31.8B reported in 9M 2023. • Loan growth of +16% to Php1.7T • Deliberate expansion of consumer segment +12%, driven by credit cards +16% and auto +16% • Net Interest Income of Php85.7B +11% (7
Slide 16: Industry Highlights
} q FEDERAL LAND NRE GLOBAL Industry Highlights ‘on GT CAPITAL HOLDINGS INCORPORATED
Slide 17: Residential Supply and Demand 9M 2024
Residential Supply and Demand 9M 2024 Residential Demand Mix Metro Manila Residential Condominium Supply and Demand RFO (Supply) Take-up (Demand) High End Luxury (over Php12M) Launches (Supply) Upscale (Php7-12M) Middle Income (Php2.3-7M) 80,000 71K Affordable (Php1.4-2.3M) 70,000 13% 5% 15K 25% 60,
Slide 18: Office Supply and Demand 9M 2024
Office Supply and Demand 9M 2024 Metro Manila Office Supply, Demand, Vacancy Rate Office Demand Mix BPO POGO Office Supply (Incremental) Office Take-up (Incremental) Vacancy Rate (Cumulative) Traditional Government 9.1% 15.7% 18.8% 19.3% 18.5% 13% 41% 1.2 1.07 650K 0.98 sqm 1.0 0.91 9M24 0.8 0.74 38
Slide 19: Federal Land Financial Highlights
\FEDERALLAND Financial ~ Highlights PGT CAPITAL HOLDINGS INCORPORATED
Slide 20: Federal Land Financial Highlights 9M 2024
Federal Land Financial Highlights 9M 2024 Monthly Reservation Sales (Php M) Reservation Sales Mix High End Luxury (over Php12M) 2024 2023 Upscale (Php7-12M) Affordable (<7M) Fuyu Launch 3,820 (July 2023) 9% TGMO2 Launch Quantum3 (Mar 2023) Launch 2,671 22% Php11.9B 2,438 (Apr 2023) 2,205 Siena 2 9M
Slide 21: Summary of Key Messages
Summary of Key Messages • Slowdown of vertical residential segment in Metro Manila attributed to the impact of high interest rates and POGO ban. • Oversupply of Ready-for-Occupancy (RFO, 27K units) in the residential condominium market may result in a correction in the coming period. • Excluding non
Slide 22: Automotive Sector Highlights
Automotive Sector Highlights 22
Slide 23: Philippine Automotive Sector
Philippine Automotive Sector Fastest growing in the ASEAN Region Vehicle sales growth in Southeast Asia 9M 2024 FY 2023 40% 22% 8% 11% 8% 4% -4% -9% -9% -16% -25% -25% Philippines Philippines Malaysia Indonesia Singapore Thailand Vietnam Source: ASEAN Automotive Federation 23
Slide 24: Philippine Automotive Sector
Philippine Automotive Sector On track to set new records PH Automotive Industry Retail Vehicle Sales (in 000 units) 473 % 468 .1 .7 5% R : 14 439 R : 18 402 400 410 CAG C AG 5Y 361 7Y 322 269 280 242 346 208 183 142 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Excise Tax Pan
Slide 25: Philippine Automotive Sector
Philippine Automotive Sector In line with economic growth Car Sales GDP Per Capita Motorization 4,000 3,747* 500 3,572 3,431 3,414 450 3,500 3,131 3,280 3,198 3,108 400 Retail Vehicle Sales (in 000 units) 3,000 3,050 Per Capita GDP (in USD) 350 2,974 Motorization: 2,500 2,844 2,718 3,000 300 2,589 2
Slide 26: Financial Highlights
> GT CAPITAL HOLDINGS Reon aTeO
Slide 27: Key Highlights 9M 2024
Key Highlights 9M 2024 Revenues Industry Monthly Retail Vehicle Sales (In 000 Units) P178.9B +9.9% Retail Vehicle Sales 2022 2023 2024 Net Income 345,772 34.3 38.2 37.7 37.5 40.4 39.1 39.5 39.2 39.8 Units P12.2B +11.7% in 9M 2024 +7.7% YoY Wholesale Volume vs. 320,910 in 9M 2023 Jan Feb Mar Apr May
Slide 28: Toyota Retail Sales Highlights 9M 2024
Toyota Retail Sales Highlights 9M 2024 TMP Top Selling Passenger Cars (Ranked by units) Toyota Market Share Segment 54% 64% 2020 2021 2022 2023 9M 2024 Share 21% 9M 2024 No.1 41% 46% 48% 46% 46.0% Vios Wigo Corolla Overall Sales 9M 2024 Unit Sales 33,367 13,148 321 No.1 51% 61% 60% 53% 54.9% TMP Top
Slide 29: Electrified Vehicle Market
Electrified Vehicle Market Growing at a fast pace PH Electrified Vehicle Sales (in unit sales) Toyota & Lexus Others Cumulative Sales (Quarterly) 133% YoY EV sales growth 4.1% of total industry sales 2.4% of total industry sales 14,178 10,652 9,238 6,088 4,128 2,968 4,564 5,110 4,940 1,165 4,128 3,1
Slide 30: Toyota and Lexus Electrified Sales
Toyota and Lexus Electrified Sales Toyota HEV Sales as % of Total Sales Combined Lexus HEV Sales as % of Total Sales 93% Toyota + Lexus 71% 5.40% 9M 2024: 2.97% 35% 0.05% 0.29% 0.54% 1.05% 14% 17% 6.3% 8% (9M 2023: 3.6%) Toyota HEV Unit Sales +186% Lexus HEV Unit Sales 8,441 +69% +222% +331% 1,525 1
Slide 31: Sales Growth Supplemented by TFSPH
Sales Growth Supplemented by TFSPH 9M 2024 TFS Quarterly Applications and Penetration Applications +17% Loan Book +15% Penetration 33% 68,344 66,148 59,372 60,683 56,382 56,732 57,385 57,382 56,825 52,958 54,771 53,068 55,041 49,298 49,251 51,790 45,786 38,144 32,164 48% 50% 48% 41% 43% 44% 38% 34%
Slide 32: Toyota CKD Model Performance
Toyota CKD Model Performance Toyota CKD Models CKD/CBU Mix 9M 2024 Higher production CBU CKD in Toyota Sta. Rosa 54% Assembly Plant 30% 48,249 Subcompact PC Segment Share 70% 9M 2024 units assembled 9M 2024 57,820 9M 2024 units to assemble 26% FY2024 Plan VS 29% MPV Segment Share 56,305 71% units as
Slide 33: Lexus maintains Market Leadership in the Auto Luxury segment
Lexus maintains Market Leadership in the Auto Luxury segment Overall Market Share (Luxury) as of 9M 2024 51.7% in 9M24 9M2024 9M2023 40.6% 20.3% 26.7% 18.1% 20.0% 7.8% 9.1% 2.2% 3.6% BMW Mercedes Land Rover Others 33 Source: Lexus
Slide 34: Summary of Key Messages
Summary of Key Messages • The Philippine automotive market remains strong and motorization is on the rise. • Record nine month retail vehicle sales 159,088 units +10.3% vs. industry +7.7% • 46.0% TMP market share • 51.7% Lexus market share • 72.0% Electrified vehicle market share • Both TMP and Lexu
Slide 35: Moving Forward
Built on Trust and Partnerships Moving Forward GT Capital Nine Months 2024 Financial and Operating Results Briefing
Slide 36: Reintroducing the iconic Toyota Tamaraw
Reintroducing the iconic Toyota Tamaraw Innovative International Multi-purpose Vehicle (IMV) Zero or ‘Next Generation Tamaraw’ • 3rd CKD model to be locally produced at TMP’s manufacturing plant in Santa Rosa City, Laguna by 4Q 2024 Tamaraw Utility Van LWB Tamaraw Dropside Hi Tamaraw Aluminum Van Ta
Slide 37: Reintroducing the iconic Toyota Tamaraw
Reintroducing the iconic Toyota Tamaraw Innovative International Multi-purpose Vehicle (IMV) Zero or ‘Next Generation Tamaraw’ Select IMV-0 Use Cases at the Philippine International Motor Show (in partnership with Toyota Mobility Solutions Philippines) Ambulance and Utility Van Shuttle Service Mobil
Slide 38: Increase in Effective Ownership Post-Mitsui Swap
Increase in Effective Ownership Post-Mitsui Swap MIG Shareholders Holdings (MPIC Management Group) Past Ownership 46.1% 0.1% 17.1% - 3.3% Ownership Post-Tender Offer 46.2% 7.1% 18.2% 14.5% 11.5% Ownership Post-Mitsui Swap 49.9% 7.7% 19.6% 7.8% 12.5% ©2024 GT Capital Investor Relations 38
Slide 39: Our Key Messages
Our Key Messages • Favorable macroeconomic environment drove the record growth of our core businesses. The Group reported a consolidated net income of Php 21.72 billion the first nine months of 2024. • Metrobank's record net income of Php 35.7 billion +12% • Metro Pacific’s record core net income of
Slide 40: Thank You!
Built on Trust and Partnerships Thank You! Nine Months 2024 Financial and Operating Results Briefing via Zoom Thursday, 14 November 2024 2:30 PM For more information, Visit gtcapital.com.ph/investor-relations or contact IR@gtcapital.com.ph