Gt Capital Holdings, Inc. · PSE:GTCAP
Gt Capital — Q1 2024 Earnings Presentation
40 slides from Gt Capital's earnings presentation, May 16, 2024
Slide 1: First Quarter 2024 Financial and Operating Results Briefing
Built on Trust and Partnerships First Quarter 2024 Financial and Operating Results Briefing Thursday, 16 May 2024 2:30 PM For more information, Visit gtcapital.com.ph/investor-relations or contact IR@gtcapital.com.ph
Slide 2: Macroeconomic Indicators
Macroeconomic Indicators GDP GDP Quarterly (%YoY) 12.0 5.7% 1Q 2024 5.6 5.5 6.0 6.4 7.8 8.2 7.5 7.6 7.1 6.4 5.5 5.7 4.3 6.0 vs. 5.9% Bloomberg Consensus 1Q 2024 Pre-Pandemic Years 6.9 5.6% FY 2023 -0.7 -3.9 6.1% FY 2019 -8.3 • Consumption +4.6% • Investment +1.3% -17.0 -11.6 • Imports +2.3% • Export
Slide 3: Macroeconomic Indicators
Macroeconomic Indicators OFW USD B %YoY Other Macroeconomic Indicators Remittances 2.3% 3.4% 3.1% 3.6% 3.4% 3.4% 2.8% 3.0% 2.6% (In USD B) FDI 8.7 8.4 9.4 9.6 8.9 8.7 9.7 10.0 9.1 USD8.1B USD1.4B net inflows 1Q 2024, +2.8%YoY As of Feb 2024+29%YoY Two-year high USD37.2B 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23
Slide 4: Macroeconomic Indicators
Macroeconomic Indicators Per Capita GDP 3,745 3,280 3,431 3,394 3,541 3,195 3,131 3,062 Motorization 3,000 2017 2018 2019 2020 2021 2022 2023 2024* *Annualized Per Capita GNI Upper Middle Income 4,466 4,295 3,770 3,916 3,479 3,629 3,292 3,305 3,587 2017 2018 2019 2020 2021 2022 2023 2024* *Annualize
Slide 5: Macroeconomic Indicators
Macroeconomic Indicators BSP Policy Rate USDPHP Fed Funds Rate BSP Rate flat 7.00 Peak Oct 13, 2022 BSP Off-Cycle Rate Hike +25 bps 60 Jan-May 2024 Oct. 27, 2023 6.50 PHP 59.00/USD 6.25 6.50% 6.00 100bps 58 5.50 5.50 5.25 5.00 5.00 56 PHP/USD 4.50 Key Policy Rate (%) -3.12% 4.25 4.00 01-Jan to 15-Ma
Slide 6: Macroeconomic Indicators
Macroeconomic Indicators Inflation PH Inflation US Inflation Inflation expected to ease Institution FY24 Est. 3.4% BSP 3.9% Jan-Apr 2024 Average 8.7% Bloomberg 6.0% FY2023 Average 8.0% 8.6% Consensus 3.6% Peaked in Upward trend inflation in Apr 2018 after 7.6% ADB 4.6% 2024 due to year-on-year incre
Slide 7: Consolidated Financial Highlights
Built on Trust and Partnerships Consolidated Financial Highlights GTCAP First Quarter 2024 Financial and Operating Results Briefing
Slide 8: GT Capital Financial Highlights 1Q 2024
GT Capital Financial Highlights 1Q 2024 Core Php7.06 Billion +7% Php6.56 Billion Net Income 1Q 2024 YoY 1Q 2023 Consolidated Php7.11 Billion1 +7% Php6.64 Billion2 Net Income 1Q 2024 YoY 1Q 2023 1. Includes Php89M share in MPIC’s nonrecurring gain 2. Includes Php115M share in MPIC’s nonrecurring gain
Slide 9: Record High Earnings in 1Q 2024
Record High Earnings in 1Q 2024 Core Net 2019 2020 2021 2022 2023 2024 Income 1Q 2024 28.8 23.3 15.8 15.9 16.6 +7% 3.5 7.1 12.0 2.8 3.2 3.7 7.4 3.4 5.8 8.1 11.0 4.0 8.1 11.3 6.6 7.06 vs. 1Q 2023 3M 6M 9M FY 3M 6M 9M FY 3M 6M 9M FY 3M 6M 9M FY 3M 6M 9M FY 3M Consolidated 2019 2020 2021 2022 2023 2024
Slide 10: GT Capital Financial Highlights 1Q 2024
GT Capital Financial Highlights 1Q 2024 Revenues Revenues Gross Premium Share in Opr. Core Inc. Revenues Php35.3B +7% Php3.0B +18% Php7.3B +16% Php6.7B +20% Php56.2B +5% Net income Net Income Net Income Core Net Income Net Income Php12.0B* +14% Php291M +2% Php728M +3% Php5.6B* +29% Php4.0B -11% • Gr
Slide 11: GT Capital Net Income Contribution per Sector 1Q 2024
GT Capital Net Income Contribution per Sector 1Q 2024 Others Property Others Property 5% 4% 4% 4% Infra Infra 10% 12%* Auto Auto 26% 31% Banking Banking 50% 54%* 1Q 2023 1Q 2024 Banking + Auto = 82% Banking + Auto = 80% 11 *Record Level
Slide 12: Operating Company Highlights
Built on Trust and Partnerships Operating Company Highlights GTCAP First Quarter 2024 Financial and Operating Results Briefing
Slide 13: Metrobank Financial Highlights
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Slide 14: Metrobank Financial Highlights 1Q 2024
Metrobank Financial Highlights 1Q 2024 MBT Gross Loan Growth vs. PH GDP Growth PHP 1.6T MBT Gross Loans (%YoY) PH GDP (%YoY) 14% 12% 8% 9% 12% 7% 12% 9% 8% 12% 8% 8% 6% 7% 6% 6% 7% 5% 8% 4% 6% 6% -4% -1% -3% -1% -4% -10% -8% -11% -17% -12% -13% -17% 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22
Slide 15: Summary of Key Results
Summary of Key Results • Record earnings of Php12.0B +14% in 1Q 2023 due to: • Loan growth of +12% to Php1.6T • Expansion of consumer segment +15%, driven by credit cards +26% and auto +18% • Net Interest Income of Php28.7B +15% (81% NII of Operating Income) • Cost-to-Income Ratio improved to 51.6%
Slide 16: Industry Highlights
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Slide 17: Residential Supply and Demand 1Q 2024
Residential Supply and Demand 1Q 2024 Metro Manila Residential Condominium Supply and Demand Residential Demand Mix Q1 Launches (Supply) Q2-Q4 Launches (Supply) Q1 Pre-sales (Demand) Q2-Q4 Pre-Sales (Demand) High End Luxury (over Php12M) 45,000 43K Upscale (Php7-12M) 41K Middle Income (Php2.3-7M) 40
Slide 18: Office Supply and Demand 1Q 2024
Office Supply and Demand 1Q 2024 Metro Manila Office Supply, Demand, Vacancy Rate Office Demand Mix Office Supply (Incremental) Office Take-up (Incremental) Vacancy Rate (Cumulative) BPO POGO Traditional 15.6% 17.9% 18.0% 18.0% 18.0% 1.2 0.98 1.07 331k 38% 1.0 0.91 46% sqm 1Q24 0.8 0.74 GLA in Mn SQ
Slide 19: Metro Manila Office Demand 1Q 2024
Metro Manila Office Demand 1Q 2024 QUEZON CITY Office Demand : 33,000 sqm BAY AREA / PASAY / PARANAQUE Quezon 12% of demand City Office Demand : 82,000 sqm 30% of demand, 67% POGO 12% Bay Area ORTIGAS / MANDALUYONG / SAN JUAN 30% Ort Office Demand : 39,000 sqm MAKATI CITY 14% 14% of demand Office De
Slide 20: Federal Land Financial Highlights
\FEDERALLAND Financial Highlights P= GT CAPITAL HOLDINGS INCORPORATED
Slide 21: Federal Land Financial Highlights 1Q 2024
Federal Land Financial Highlights 1Q 2024 Monthly Reservation Sales (Php M) Reservation Sales Mix High End Luxury (over Php12M) 2024 2023 Upscale (Php7-12M) Middle / Low Mid Income (Php<7M) 3,820 TGMO2 14% Launch Quantum3 1Q24 (Mar 2023) Launch (Apr 2023) 2,671 6% 2,438 Siena 2 Php3.9B 2,205 Launch
Slide 22: Nitori at MITSUKOSHI BGC
Nitori at MITSUKOSHI BGC • Grand opening on April 18, 2024 • Record-breaking first day sales, outperforming any other first Nitori store openings in other ASEAN countries 22
Slide 23: Summary of Key Messages
Summary of Key Messages • Total revenues grew by +18% to Php3.0B • Net income increased by +2% to Php291M • Real estate sales rose by +26% to Php1.0B, including lot sales +68% to Php1.4B • Higher sales from projects in Ortigas and Pasay • Rental Income +23% to Php413M attributed to higher occupancy
Slide 24: Toyota Financial Highlights
& TOYOTA All-New Zenix HEV Pan GT CAPITAL | HOLDINGS INCORPORATED
Slide 25: Key Highlights 1Q 2024
Key Highlights 1Q 2024 Revenues Industry Monthly Retail Vehicle Sales (In 000 Units) P56.2B +5% Retail Vehicle Sales 2022 2023 2024 Net Income 110,196 38.2 37.7 Units 34.3 P4.0B -11% in 1Q 2024 +11.7% YoY Wholesale Volume vs. 98,622 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec in 1Q 2023 52,222 u
Slide 26: Toyota remains dominant: 45.1% market share
Toyota remains dominant Overall Market Share as of FY 2023 45.1% in 1Q 2024 1Q2024 1Q2023 45.8% 19.2% 7.2% 6.8% 4.1% 4.0% 3.5% 2.3% 1.7% 1.0% 1.0% 0.7% Mitsubishi Mitsubishi Nissan Nissan Ford Ford Others Others Suzuki Suzuki Isuzu Isuzu Hyundai Hyundai MG MG Geely Geely Kia Kia Chery Chery 26
Slide 27: Toyota Retail Sales Highlights 1Q 2024
Toyota Retail Sales Highlights 1Q 2024 TMP Top Selling Passenger Cars (Ranked by units) Segment 94% 51% 61% Share 27% 1Q 2024 Vios Wigo Corolla Altis Camry Toyota Market Share 2020 2021 2022 2023 1Q2024 1Q 2024 Unit Sales 9,539 4,203 118 134 No.1 Overall Sales 41% 46% 48% 46% 45.1% TMP Top Selling C
Slide 28: Sales Growth Supplemented by TFSPH
Sales Growth Supplemented by TFSPH 1Q 2024 TFS Quarterly Applications and Penetration Applications +6% Loan Book +14% Penetration 33% 59,372 57,385 57,382 60,683 56,382 56,732 56,825 55,041 52,958 54,771 53,068 49,298 49,251 51,790 45,786 38,144 32,164 48% 50% 48% 41% 43% 44% 38% 34% 33% 33% 27% 30%
Slide 29: Toyota CKD Model Performance
Toyota CKD Model Performance Toyota CKD Models CKD/CBU Mix 1Q 2024 Higher production CBU CKD in Toyota Sta. Rosa 51% Assembly Plant 27% 14,673 Subcompact PC Segment Share 73% 1Q 2024 units assembled 1Q 2024 57,820 1Q 2024 units to assemble 24% FY2024 Plan VS 28% MPV Segment Share 56,305 72% units as
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 94% Toyota + Lexus 71% 1Q 2024: 35% 1.05% 4.65% 14% 17% 0.05% 0.29% 0.54% 5.8% 8% 2.97% (2023:3.6%) Toyota HEV Unit Sales Lexus HEV Unit Sales +222% +331% 5,888 1,315 +270% +524% 606
Slide 31: New Model Launches
New Model Launches Corolla Cross HEV LBX April 2024 March 2024 31
Slide 32: Lexus maintains Market Leadership in the Auto Luxury segment
Lexus maintains Market Leadership in the Auto Luxury segment Overall Market Share (Luxury) as of 1Q 2024 56.7% in 1Q24 1Q2024 1Q2023 31.8% 30.8% 28.1% 20.5% 13.3% 6.4%4.9% 3.1%4.3% BMW Mercedes-Benz Land Rover Others 32 Source: Lexus
Slide 33: Summary of Key Messages
Summary of Key Messages • TMP remains dominant in the automotive sector • Retail vehicle sales of 49,667 units +10% vs. industry +12% • 45.1% TMP market share • 56.7% Lexus market share • Electrified vehicles continue to gain traction at 5.8% of total TMP and Lexus sales • +524% year-on-year growth
Slide 34: Moving Forward
Built on Trust and Partnerships Moving Forward GTCAP First Quarter 2024 Financial and Operating Results Briefing
Slide 35: Hartwood Village at Meadowcrest
Hartwood Village at Meadowcrest Biñan, Laguna Meadowcrest Township • 48-hectare masterplanned neighborhood township • Residential blocks, retail shops, parklets and biking networks that would offer customers with a distinct lifestyle and business environment Hartwood Village Phase 1 • 11.3-hectare h
Slide 36: Pipeline Projects
Pipeline Projects Florida Sun Estates Riverpark North Cavite Commercial Lots Cavite 36
Slide 37: CALAX New Segment Completion Update
CALAX New Segment Completion Update Riverpark South Arterial Road Kawit IC Target Completion: 2Q 2025 Lancaster IC Riverpark GT Target Completion: IC 2Q 2025 Governor’s Drive IC Target Completion: 4Q 2024 Silang IC ©2023 GT Capital Investor Relations 37
Slide 38: SM City General Trias Riverpark
SM City General Trias Riverpark ©2023 GT Capital Investor Relations 38 ©2024 GT Capital Investor Relations
Slide 39: Our Key Messages
Our Key Messages • The Group reported first quarter 2024 healthy growth rates on top of record-setting base, with core net income +7% demonstrating the strength in GT Capital’s underlying fundamentals and the resiliency of the domestic economy • Implementation of strategic initiatives that support t
Slide 40: Thank You!
Built on Trust and Partnerships Thank You! GTCAP First Quarter 2024 Financial and Operating Results Briefing Thursday, 16 May 2024 2:30 PM For more information, Visit gtcapital.com.ph/investor-relations or contact IR@gtcapital.com.ph