Col Financial Group, Inc. · PSE:COL
Col Financial — Q1 2025 Earnings Presentation
26 slides from Col Financial's earnings presentation, 2025
Slide 1: 1Q25 COL Investor Presentation
1Q25 COL Investor Presentation 1
Slide 2: Company Overview
Company Overview Established and The leading online licensed by the SEC in stockbroker in the 1999 Philippines Focused on tapping Founder (Edward K. Lee) the underserved retail retains a 21.7% stake investor base in the and actively manages stock market the Company 2
Slide 3: Outstanding Shares, Free Float and Market Cap
5.95 Bil 21.8 Outstanding Shares % Edward K. Lee Free Float 1.91 Bil 32.1% Market Cap* Php9.40 Bil Public *As of end March 2025 15.5% Daiwa Securities Group 16.8% Other Directors & Officer 13.9% Alexander C. Yu 3
Slide 4: Business Objective
Business Objective To be the preferred source of financial services, a trusted provider of guidance and investment and a strong organization committed to delivering great value to its customers. Our goal is to be Champion of the Filipino Investor 4
Slide 5: COL Milestones
COL Milestones 1999 2000 2006 2015 2017 2019 2023 Licensed by the SEC Began operating Listed in the PSE at Launched COL Japan’s Daiwa Formed COL Japan’s Daiwa to conduct business the COL PH online Php0.136/sh Fund Source - Securities Group, Investment Securities as a broker and trading platform the
Slide 6: Among the Biggest Philippine Based Stockbrokers
Among the Biggest Philippine Based Stockbrokers 1Q25 Rank Broker Name 1Q25 Value Turnover (Php Bil) % of Total 1 UBS Securities Philippines Inc 99.6 12.9 2 Maybank Securities, Inc. 55.8 7.2 3 CLSA Philippines Inc 52.3 6.8 4 Regis Partners, Inc 42.1 5.4 5 Macquarie Capital Securities (Philippines), I
Slide 7: The Biggest Philippine Based Stockbroker
The Biggest Philippine Based Stockbroker Total Accounts (as of 2023) Total Online Accounts (as of 2023) 73% 27 % 66% 34% Others Others COL COL Source: PSE 7
Slide 8: Bulk of Revenues Generated from Commissions and Interest
Revenue Breakdown 1Q25 2.3% Trail Fees 1.2% Others Bulk of Revenues Generated from Commissions and Interest 62.6% Interest Commissions accounted for 33.9% of revenues. Interest income from margin loans and cash placements accounted for 62.6% of revenues. 33.9% Trailer fees from the distribution of m
Slide 9: Key Operating Highlights
Key Operating Highlights Positives Negatives 1. Profits up 13.1% to Php131.4 Mil 1. Commission revenues hurt be 2. Client base and equity continued to deregulation of commission rates grow 2. Interest income down due to lower 3. MF sales remained positive despite interest rates challenging environme
Slide 10: 1Q25 Net Income +13.1% Y/Y
Pro Forma Consolidated Income Statement (Php Mil) Change 1Q25 Net Income Income 1Q24 1Q25 Amount % +13.1% Y/Y Commissions 93.9 91.7 (2.2) -2.3% Interest 182.2 169.3 (12.8) -7.0% 1Q25 net income rose 13.1% to Php131.4 Mil, largely Trailer Fees 5.8 6.3 0.5 8.7% drive by lower taxes. Other income 1.3 3
Slide 11: Commissions and Interest Income Down
Pro Forma Revenue Breakdown (Php Mil) Commissions and Change Interest Income Down Revenue Breakdown 1Q24 1Q25 Amount % Commission 93.9 91.7 (2.2) -2.3% Revenues were down 4.4% to Php270.6 Bil as commission Self-directed 52.6 66.4 13.8 26.2% revenues and interest income decreased. Agency & advisory 2
Slide 12: Commissions and Interest Income Decreased
Commissions and Pro Forma Revenue Breakdown (Php Mil) Change Interest Income 1Q24 1Q25 Amount % Decreased Revenue Breakdown Commission 93.9 91.7 (2.2) -2.3% Interest income also fell, dropping by 7.0% to Php169.3 Mil. Self-directed 52.6 66.4 13.8 26.2% Although interest income from margin lending in
Slide 13: Controlled Growth of Expenses
Pro Forma Breakdown of Expenses (Php Mil) Controlled Growth of Change Expenses Trading Related Expenses 1Q24 1Q25 Amount % Operating expenses were flattish at Php106.8 Mil. Commission expenses 7.7 7.5 -0.2 -2.1% Stock exch. dues & fees 5.5 5.4 -0.1 -1.4% Trading related expenses fell by 1.8% to Php1
Slide 14: ROAE Improved to 21.6%
ROAE Improved to 21.6% Selected Financial Ratios ROAE improved to 21.6% from 20.7%. 1Q24 1Q25 Profitability improved largely due to higher net margin brought about by lower taxes. Operating Profit Margin 62.5% 60.5% EBITDA Margin 66.2% 64.1% Asset turnover fell slightly due to lower yield on placeme
Slide 15: Rank Remained Steady at Number 8
Comparative Performance (COL vs. PSE) Rank Remained Steady at Change Number 8 1Q24 1Q25 Amount % COL’s average daily turnover increased by 3.6% to PSE Ave. Daily T/O (PhpMil) 6,028.1 6,232.3 204.2 3.4% Php594.0 Mil, slightly faster than the 3.4% improvement in the PSE’s value turnover. COL Ave. Dail
Slide 16: Among the Biggest Philippine Based Stockbrokers
Among the Biggest Philippine Based Stockbrokers 1Q25 Rank Broker Name 1Q25 Value Turnover (Php Bil) % of Total 1 UBS Securities Philippines Inc 99.6 12.9 2 Maybank Securities, Inc. 55.8 7.2 3 CLSA Philippines Inc 52.3 6.8 4 Regis Partners, Inc 42.1 5.4 5 Macquarie Capital Securities (Philippines), I
Slide 17: Strong Balance Sheet
Strong Balance Sheet Pro Forma Consolidated Balance Sheet (Php Mil) Change COL’s balance sheet remained strong with ample cash and 12/31/24 3/31/25 Amount % no interest-bearing debts. Cash & cash equivalents 9,704.8 9,408.0 -296.8 -3.1% Cash & cash equivalents were down slightly by 3.1% to Trade rec
Slide 18: Customer Base Up Y/Y
Client Base +3.7% Customer Base Up Y/Y 545,273 539,996 526,025 521,052 503,145 489,154 437,048 COL’s client base grew by 3.7% Y/Y to 545,273 as of end March 2025. 332,098 Average monthly additions reached 1,604 during the past 12 months and 1,753 during the first quarter. 2019 2020 2021 2022 2023 20
Slide 19: Client Equity Up on New Deposits
Client Equity (Php Mil) +5.5% Client Equity Up 117,788 117,224 112,556 111,621 on New Deposits 107,346 107,027 104,782 Client equity was up 5.5% Y/Y to Php117.8 Bil. 72,673 Despite lower stock price, client equity increased due to positive net cash deposits. Net cash inflows from retail clients amou
Slide 20: Margin Loans Up
Ave Daily Margin Loans (Php Mil) +0.4% Margin Loans Up 983 979 958 930 Average daily margin loans up marginally by 0.4% to Php983 Mil Y/Y. 759 719 The number of approved margin accounts fell 617 slightly from 1,098 to 1,085. The number of 518 accounts utilizing margin also fell to 332 from 343. Valu
Slide 21: MF Net Sales still Positive due to Local Equity and Feeder Funds
MF Net Sales still Positive due to Local Equity and Feeder Funds 1Q25 MF Net Sales (PhpMil) Fund Type COL’s MF distribution business generated net sales of Php120.2 Mil during 1Q25 due to the popularity of local Money Market -72.5 equity funds and feeder funds. Bond Fund -17.8 During 1Q25, money mar
Slide 22: Average Non-Money Market AUA Up Y/Y and Q/Q
Average AUA (Non-Money Market Funds Only, in Php Mil) 4,881.7 4,809.8 4,558.3 4,407.2 4,268.9 4,025.9 3,997.8 3,936.6 3,921.3 3,865.9 3,778.3 3,604.4 Average 3,446.2 Non-Money Market AUA Up Y/Y and Q/Q 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 Non-Money Market MF Ave AUA 22
Slide 23: Total Clients Owning MFs Stabilized
Clients Owning MFs Total Clients Owning MFs Stabilized MF Investors % of Total Clients 68,000 13.2% 13.0% 12.9% 67,000 12.8% 13.0% Clients with MF investments continued 66,000 12.7% 12.8% to recover, reaching 66,769 as of end 12.6% 65,000 March 2025 after hitting a low of 63,725 12.5% 12.6% as of en
Slide 24: CMI Posts Higher AUA Despite General Industry Weakness
CMI Posts Higher AUA 1Q24 AUA 1Q25 AUA % Change Despite General Industry Fund Source 4,796 5,466 14% Weakness FS (non-MM) 4,418 4,856 10% Fund Source’s AUA grew by 14% despite the 10% drop in the total industry’s AUA. BPI (MF) 128,045 118,443 -7% ATRAM 9,600 9,019 -6% The strong performance of CMI w
Slide 25: Growing Number, but Lower Percentage of Clients Own MFs
27 10,000.0 20,000.0 30,000.0 40,000.0 50,000.0 60,000.0 70,000.0 0.0 SOURCE: COL ESTIMATES 5,244 3.4% 7,526 4.6% 11,859 6.9% 13,690 7.5% 16,599 8.5% 18,317 8.9% 20,493 9.5% 22,257 9.9% 24,739 10.4% 27,375 11.1% MF Investors 30,421 11.6% 32,675 12.0% 34,847 12.3% 36,349 12.4% 38,069 12.5% % of Total
Slide 26: Disclaimer
Disclaimer This presentation was prepared solely and exclusively for discussion purposes. This presentation and/or any part thereof may not be reproduced, disclosed or used without the prior written consent of COL Financial (the “Company”). This presentation, as well as discussions arising therefrom