Slide 1: Analysts' Briefing First Quarter 2018 Results
ANALYSTS’ BRIEFING First Quarter 2018 Results May 11, 2018
Slide 2: Consolidated Income Statement Highlights
Consolidated Income Statement Highlights (In Php Billions) 1Q18 1Q17 Inc/ (Dec) % Change REVENUES Banking 9.23 7.50 1.73 23.1% Beverage 3.11 2.86 0.25 8.7% Distilled Spirits 4.22 4.22 - 0.0% Property Development 0.58 0.54 0.04 7.4% Tobacco - - - -- Total Revenues 17.14 15.12 2.02 13.4% Cost of Sales
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 1Q18 1Q17 1Q18 % to total Inc/(Dec) % 1Q17 % to total Tobacco 2,361 1,002 2,352 65% 1,354 136% 998 44% Banking 1,499 1,272 833 23% 134 19% 699 31% Beverage 149 151 149 4% (2) -1% 151 7% Distilled Spirit
Slide 4: Consolidated Balance Sheet Highlights
Consolidated Balance Sheet Highlights (In Php Billions) As of: Mar-18 Dec-17 Inc/(Dec) % Change Cash 173.2 174.0 (0.8) (0.5%) Total Assets 936.9 917.1 19.8 2.2% Total Liabilities 737.8 721.8 16.0 2.2% Total Equity 199.1 195.3 3.8 1.9% D-E Ratio 3.71 3.70 - D-E Ratio (w/o bank) 0.16 0.15 - 4
Slide 5: Income Statement (Tobacco)
Income Statement (In Php Millions) 1Q18 1Q17 Inc/(Dec) % New Products: Segment Revenue - - - Cost of Sales - - - Gross Profit - - - Equity in Net Earnings fr PMFTC 2,288 1,028 1,260 123% 2,288 1,028 1,260 123% Operating Expenses 38 57 (19) (33%) Operating Income 2,250 971 1,279 132% Other Inc./(Char
Slide 6: Income Statement (Banking)
Income Statement Balance Sheet As of As of As of (In Php Millions) 1Q18 1Q17 Inc/(Dec) % Net Interest Income (In Php Billions) Mar '18 Mar '17 Dec '17 Interest Income 8,121 6,541 1,580 24% COH & Due from Banks 169 190 171 Interest Expense 1,691 1,393 298 21% AFS Investments 65 73 70 6,430 5,148 1,28
Slide 7: Income Statement (Beverage)
Income Statement (In Php Millions) 1Q18 1Q17 Inc/(Dec) % New Products: Segment Revenue 3,400 3,140 260 8% Cost of Sales 2,396 2,041 355 17% Gross Profit 1,004 1,099 (95) (9%) Gross Profit Margin 30% 35% -5%pts Operating Expenses 556 669 (113) (17%) Operating Income 448 430 18 4% Equity in net loss (
Slide 8: Income Statement (Distilled Spirits)
Income Statement (In Php Millions) 1Q18 1Q17 Inc/(Dec) % New Product: Sales Volume (liquor) 4.787 4.845 (0.058) (1%) Sales Volume (bio, ltr) 7.987 9.165 (1.178) (13%) Segment Revenue 4,243 4,246 (3) (0%) Cost of Sales 3,520 3,567 (47) (1%) Gross Profit 723 679 44 6% Gross Profit Margin 17% 16% +1%pt
Slide 9: Income Statement (Property Development)
Income Statement (In Php Millions) 1Q18 1Q17 Inc/(Dec) % Segment Revenue New Projects: Residential 226 207 19 9% Leasing 353 328 25 8% Cost of Sales Eton Square Ortigas Residential 111 134 (23) (17%) Leasing 81 69 12 17% Gross Profit Residential 115 73 42 58% Leasing 272 259 13 5% Gross Profit Margi