Lt Group, Inc. · PSE:LTG
Lt — Q1 2024 Earnings Presentation
9 slides from Lt's earnings presentation, May 13, 2024
Slide 1: Analysts' Briefing: 1st Quarter Financial Results
ANALYSTS’ BRIEFING 1st Quarter Financial Results May 13, 2024
Slide 2: Consolidated Income Statement Highlights
Consolidated Income Statement Highlights (In Php Billions) 1Q24 1Q23 Inc/ (Dec) % Change REVENUES Banking 17.79 15.65 2.14 13.7% Distilled Spirits 5.87 6.22 (0.35) (5.6%) Beverage 4.24 3.68 0.56 15.2% Property Development 0.60 0.49 0.11 22.4% Tobacco - - - Total Revenues 28.50 26.04 2.46 9.4% Cost o
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 1Q24 1Q23 1Q24 % to total Inc/(Dec) % 1Q23 % to total Banking 5,306 4,827 2,971 46% 251 9% 2,720 43% Tobacco 2,663 3,059 2,652 41% (395) (13%) 3,047 48% Distilled Spirits 255 258 254 4% (2) (1%) 256 4%
Slide 4: Consolidated Balance Sheet Highlights
Consolidated Balance Sheet Highlights (In Php Billions) As of: Mar '24 Dec '23 Inc/(Dec) % Change Cash 240.4 243.8 (3.4) (1.4%) Total Assets 1,314.6 1,327.4 (12.9) (1.0%) Total Liabilities 1,008.3 1,027.2 (18.9) (1.8%) Total Equity 306.3 300.2 6.0 2.0% D-E Ratio 3.29 3.42 (0.13) D-E Ratio (w/o bank)
Slide 5: Income Statement (Banking)
Income Statement (In Php Millions) 1Q24 1Q23 Inc/(Dec) % As of As of As of Balance Sheet Net Interest Income (In Php Billions) Mar '24 Mar '23 Dec '23 Interest Income 16,084 13,795 2,289 17% Interest Expense 4,390 3,343 1,047 31% COH & Due from Banks 237 169 243 11,694 10,452 1,242 12% FA at FVTOCI
Slide 6: Income Statement (Tobacco)
Income Statement (In Php Millions) 1Q24 1Q23 Inc/(Dec) % Segment Revenue - - - Cost of Sales - - - Gross Profit - - - Equity in Net Earnings fr PMFTC 2,585 3,008 (423) (14%) 2,585 3,008 (423) (14%) Operating Expenses 41 45 (4) (9%) Operating Income 2,544 2,963 (419) (14%) Other Inc./(Charges) 152 12
Slide 7: Income Statement (Distilled Spirits)
Income Statement (In Php Millions) 1Q24 1Q23 Inc/(Dec) % Sales Volume (liquor) 4.195 4.846 (0.651) (13%) Sales Volume (bio, ltr) 9.700 9.582 0.118 1% Segment Revenue 5,901 6,240 (339) (5%) Cost of Sales 5,125 5,458 (333) (6%) Gross Profit 776 782 (6) (1%) Gross Profit Margin 13% 13% 0%pt OPERATING E
Slide 8: Income Statement (Beverage)
Income Statement (In Php Millions) 1Q24 1Q23 Inc/(Dec) % Segment Revenue 4,394 3,807 587 15% Cost of Sales 3,489 2,984 505 17% Gross Profit 905 823 82 10% Gross Profit Margin 21% 22% -1%pt Operating Expenses 648 637 11 2% Operating Income 257 186 71 38% Equity in net income 17 12 5 42% Other Inc./(C
Slide 9: Income Statement (Property Development)
Income Statement (In Php Millions) 1Q24 1Q23 Inc/(Dec) % Segment Revenue Residential 50 - 50 100% Leasing 476 425 51 12% Cost of Sales Residential 21 - 21 100% Leasing 223 215 8 4% Gross Profit Residential 29 - 29 100% Leasing 253 210 43 20% Eton City Square, Laguna Gross Profit Margin Residential 5