Jg Summit Holdings Inc. · PSE:JGS
Jg Summit — Q1 2024 Earnings Presentation
19 slides from Jg Summit's earnings presentation, May 8, 2024
Slide 1: 1Q2024 Unaudited Results Investor Briefing
1Q2024 Unaudited Results Investor Briefing 08 May 2024
Slide 2: Disclaimer
Disclaimer This presentation may contain certain forward- looking statements with respect to the financial condition, results of operations and business of JG Summit Holdings, Inc. and its subsidiaries (JGS), as well as plans and objectives of the management of JGS. Such forward looking statements i
Slide 3: 1Q2024 Unaudited Results
1Q2024 Unaudited Results
Slide 4: JGS' core net income tripled as the strong results of its listed subs was further boosted by bank merger gains
JGS’ core net income tripled as the strong results of its listed subs was further boosted by bank merger gains • Continuous revenue expansion across all subsidiaries, led by In Php billion 1Q23 1Q24 % YoY cyclical units, resulted in a double-digit consolidated topline growth Revenues 82.3 96.7 +18%
Slide 5: URC: Volume-based expansion across BCF and AIC plus margin progress supported faster EBIT growth
URC: Volume-based expansion across BCF and AIC plus margin progress supported faster EBIT growth Revenue ▲7% by division • Revenue rose across all divisions, on the back of volume-driven 42.6 % chg vs LY growth. BCF in particular saw a balanced portfolio expansion across 39.8 premium vs value tiers
Slide 6: RLC: Robust performance across all units led to substantial double-digit topline and bottomline growth
RLC: Robust performance across all units led to substantial double-digit topline and bottomline growth Revenue ▲ 18% by division 10.5 % chg vs LY • Strong revenue improvement across all businesses, especially in 4% RLX & RDE malls and hotels from sustained consumer spending 3% 8.9 +73% 22% 4% Joint
Slide 7: CEB: Sustained domestic travel demand & steep int'l short-haul upswing pushed net profits to double YoY
CEB: Sustained domestic travel demand & steep int’l short-haul upswing pushed net profits to double YoY Revenue ▲21% by division 25.3 % chg vs LY • Significant growth in revenue as the number of passengers flown hit 20.9 5.5 million in Q1, 14% higher than SPLY. This was supported by 25% Ancillary +1
Slide 8: JGSOC: Improved volumes & conversion costs offset by weak polymer prices & recent naphtha cost uptick
JGSOC: Improved volumes & conversion costs offset by weak polymer prices & recent naphtha cost uptick Revenue ▲62% by division • Revenues grew on the back of higher sales volumes for all segments, with 14.1 higher utilization rates and improved asset reliability vs LY % chg vs LY • Healthy Aromatics
Slide 9: Core Investments
Core Investments EQUITY INCOME* DIVIDENDS RECEIVED 2.5 2.1 1.4 1.1 1Q23 1Q24 1Q23 1Q24 • Higher distribution sales volumes • Regular dividends increased by Php1 plus power generation, retail to Php46 per share, but there were electricity supply, and non-power no special dividends declared in related
Slide 10: Ecosystem Plays
Ecosystem Plays • Onboarded 2.8 million customers and grew deposit book to Php14bn • Ranked #1 in monthly app downloads, #5 in monthly app active users, and #1 in customer NPS compared to other banks • Deployed GoTyme ATMs, first amongst digital banks • JGDEV made an initial • Member base saw more t
Slide 11: JGS: Healthy balance sheet to support growth
JGS: Healthy balance sheet to support growth Consolidated Parent Dec 2023 Mar 2024 % Chg Dec 2023 Mar 2024 % Chg Cash1,2 49.6 53.4 8% Cash1 12.2 11.7 -5% Financial Debt 301.7 316.7 5% Total LT Debt 63.1 63.6 1% Total LT Debt 238.1 240.5 1% Total ST Debt 6.2 6.7 8% FX-Denominated 81.5 89.4 10% Net De
Slide 12: CAPEX jumped 50% YoY driven by CEB's higher spending for aircraft acquisition
CAPEX jumped 50% YoY driven by CEB’s higher spending for aircraft acquisition 1Q24 20.3 0.9 • Continued development for mega plant in Others Malvar, Batangas 3.8 RBank • Development of malls (Opus and Pagadian), 12.8 offices (GBF 1 and Cybergate Iloilo 3), hotels JGSOC (NUSTAR Hotel) and warehouse f
Slide 13: Sustainability Updates
Sustainability Updates As a foundational step in our climate strategy, we have identified and assessed climate-related physical risks and opportunities at a facility-level. Integration Climate Determining Selecting into the Hazard Climate Pilot Vulnerability Assessment Business Identification Exposu
Slide 14: Key Messages
Key Messages ✓ JG Summit’s listed subsidiaries posted strong results as it saw improving margins and operational efficiency. These were further lifted by the gain from the BPI-RBank merger that was effective at the start of the year. ✓ While we remain cautious given short-term headwinds from elevate
Slide 15: Thank You!
1G HOLDINGS, INC Thank You!
Slide 16: Appendix
1G HOLDINGS, INC Appendix
Slide 17: Corporate Structure
Market Capitalization: Corporate Structure ₱245.6 bn Strengthen and drive the full potential of Leverage on the synergies available within Maximize value through their steady stream these BUs our extensive network of businesses of cash flows and capital appreciation Food & Beverage Infrastructure Po
Slide 18: Balance Sheet
Balance Sheet (Php Millions) As of Dec 2023 As of Mar 2024 Cash & cash equivalents (including Financial assets at FVPL and financial assets at FVOCI) 53,606 55,125 Assets held for sale 170,694 - Other current assets 173,638 183,921 Investments in Associates and JVs - net 152,001 151,688 Property, pl
Slide 19: Income Statement
Income Statement (Php Millions) 1Q23 1Q24 YoY REVENUES 82,257 96,742 18% Cost of sales and services 58,180 66,459 14% GROSS INCOME 24,077 30,283 26% Operating Expenses 13,426 16,051 20% OPERATING INCOME 10,650 14,232 34% Financing costs & other charges (3,570) (4,381) 23% Foreign exchange gain/ (los