Gt Capital Holdings, Inc. · PSE:GTCAP
Gt Capital — 9M 2020 Earnings Presentation
93 slides from Gt Capital's earnings presentation, February 2021
Slide 1: Investor Presentation Nine Months 2020 Financial and Operating Results
February 2021 Investor Presentation Nine Months 2020 Financial and Operating Results For more information, Visit gtcapital.com.ph/investor-relations or contact IR@gtcapital.com.ph Music from Bensound.com
Slide 2: Notice/Disclaimer
Notice/Disclaimer The information in this presentation has been prepared by GT Capital Holdings, Inc. (the "Company"). By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations and represent that you are a pers
Slide 3: Table of Contents
Table of Contents GT Capital Corporate Profile 5 History of Strategic Partnerships 6 Strategic Direction 9 GT Capital Component Companies 11 Current Corporate/Ownership Structure 12 Our Macroeconomic View 13 Group Consolidated Financial Highlights 15 Net Income Contribution 21 Metropolitan Bank and
Slide 4: Our history from Metrobank
• We trace our history to Metropolitan Bank and Trust Old Metrobank Company (Metrobank), founded headquarters at the site by Dr. George S.K. Ty in 1963 of today’s GT Tower • Universal banking days: Key non-banking businesses of the Ty family were initially folded into Metrobank • Basel III regulatio
Slide 5: Corporate Profile
Corporate Profile GT Capital directly owns market-dominant businesses in Strategic Partnerships with underpenetrated sectors of the Philippine economy, namely banking; automotive assembly, importation, dealership, and financing; Best-of-Class Brands infrastructure; property development; and life and
Slide 6: Trusted by partners from Japan and around the world
Trusted by partners from Japan and around the world Toyota Motor Philippines Toyota Manila Toyota Financial ORIX Corporation Global Business Power Sumitomo partners with Federal Isetan Mitsukoshi Holdings is established with Services (TFS) Premium Group of Bay Corp is is established. Later, Corporat
Slide 7: Strong Group-wide Footprint
Strong Group-wide Footprint over ₱2.3 Tn 4.0 Mn 10,000 Trillion individual 960 52 20,000 institutional and SME branches remittance employees Group- total resources depositors nationwide centers wide clients 60,000 vehicles built annually at the 1.8 Mn Toyota units sold in PH 71 80% 3,998 dealerships
Slide 8: Strong Group-wide Footprint
Strong Group-wide Footprint 14 33,923 group-wide employees global strategic partners 23.2 including contractual & agency Million Across an broad 1,071 customers spectrum of clients Branches Institutional nationwide High net worth Upper middle-income Present in approx 68 10,000 Small and medium enter
Slide 9: Strategic Direction
Strategic Direction • Toyota unit sales through MBT/PSBank auto loans/TFS New Sectors Synergy lease-to-own package • New strategic Exploring partners • Federal Land home mortgages underpenetrated • Infrastructure (MPIC) by MBT/PSBank Cross-selling sectors with new • Medical diagnostics within the GT
Slide 10: Pivot toward recovery
How are we moving toward the future? Shift from a car selling company to an Pivot toward recovery • 22% of clients are now enrolled in • all-around mobility provider Metrobank’s e-channels • Launch of virtual showroom • 79% of total transactions are now • Launch of the MyToyota app done via e-channe
Slide 11: GT Capital Component Companies
GT Capital Component Companies 1 Best Managed Bank in the Philippines for 2018, 1 Most dominant automotive company in the 1❖ company Owns MERALCO, the Philippines’ largest power distribution 2019 according to The Asian Banker Philippines, maintaining 35% to 40% market share from Second largest Phili
Slide 12: Current Corporate Ownership Structure
Current Corporate Ownership Structure 55.93% Grand Titan Public Float 44.07% Banking Automotive Property Development Insurance Infrastructure and Utilities 21.0% ➔ 36.0% ➔ 51% 100% 15.98% 26.47%1➔ 37.15%8 40%5 25.3%2,3 15% owned by Ty family-related entities 40.7% ➔ 60.0% 28% ➔ 58.1% 4 1 Free float
Slide 13: Our Macroeconomic View
Our Macroeconomic View Philippine Annual GDP Growth Trends • Annual GDP growth averaged 6.4% from 2010 until 2019, among the 1980 – 2020, in percent (%) highest in ASEAN • FY2020 GDP Decline at -9.5% due to the Asian Financial Crisis Global Financial Crisis COVID economic slowdown from the COVID 202
Slide 14: Promising signs of macroeconomic recovery
Promising signs of macroeconomic recovery BSP Consumer Expectations Survey (CES) – In % GDP (Quarterly %YoY) Rebound by 2021 vs. PH Industry Vehicle Unit Sales – In YoY Change 6 6.4 +6.6 Current CES CES Outlook Auto Sales YoY 5.6 5.5 23.6 -0.7 4.6 no survey 4.3 1.3 1.26 1.26 1Q19 2Q19 3Q19 4Q19 1Q20
Slide 15: January to September 2020 Financial and Operating Highlights
January to September 2020 Financial and Operating Highlights 15
Slide 16: Timeline of Events
Timeline of Events Events Leading to Q3 2020 Performance M Modified Pre-COVID ECQ E GCQ ECQ Return to GCQ Taal Eruption Enhanced Community Quarantine C General Community Quarantine Enhanced Community General Community Quarantine Q Quarantine Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Bayanihan
Slide 17: GT Capital Group Nine Months 2020 Financial Highlights
GT Capital Group Nine Months 2020 Financial Highlights Core Net Income* Consolidated Net Income Php3.7 B -69% Php3.2 B -79% Php12.0 billion 9M 2019 Php15.1 billion 9M 2019 *Material subsequent event: Php0.9 B net income realized from the lot sale to a third party, Core NI reached Php4.6 B Net Income
Slide 18: Bayanihan 1 and Bayanihan 2
Bayanihan 1 Bayanihan 2 March to June 2020 Sept to Dec 2020 • Mandatory payment extension of • Mandatory payment extension of loans during the ECQ enforced by loans for businesses under the SEC and BSP quarantine, also enforced by the • Loan moratorium: March 17 until SEC and BSP May 30 (2.5 months)
Slide 19: Group Services During ECQ
Group Services During ECQ Grace Banking Insurance Auto Periods Services Coverage Assistance Grace periods for •Branches, Cash •Extended validity of Financial assistance monthly Accept Machines, coverage for to dealerships amortizations, lease and ATMs remained qualified policies collections, and ope
Slide 20: 2021 Projected Capex budget
2021 Group Capex in Billion Php Prudent practices Actual 2020 2021 Budget Nature 4.000 3.0 – 5.0 IT 0.831 3.500 Pre-delivery inspection facility 0.075 0.291 IT, Transportation, Leasehold rights 0.382 0.466 Service bay improvements 0.040 0.086 IT, Transportation, Leasehold rights 1.353 4.447 Various
Slide 21: GT Capital Net Income Contribution 9M 2020
GT Capital Net Income Contribution 9M 2020 TFSPH TMBC TFSPH TMBC AXA AXA 1.4% 0.6% Sumisho 1.5% -0.3% 3.4% 8.5% 0.01% TMP MPIC 15.7% TMP MPIC 12.2% 24.8% 11.5% FLI 5.1% FLI 2.5% MBT MBT 52.1% 60.4% MBT + TMP = 76.9 % MBT + TMP = 76.1% 9M 2019 9M 2020 21
Slide 22: Net Income Contribution by Sector
GT Capital Net Income Contribution by Sector Insurance Insurance 3.4% 8.4% Infrastructure Infrastructure 12.2% 11.5% Property Automotive Automotive Property 17.1% 5.1% 27.2% 2.5% Banking Banking 60.4% 52.1% 9M 2019 9M 2020 22
Slide 23: Net Income Contribution by Sector Including Gain on Oct 2020 Property Sale
GT Capital Net Income Contribution by Sector Including Gain on Oct 2020 Property Sale Insurance Insurance 7.5% 3.4% Infrastructure Infrastructure 10.2% 12.2% Automotive Property Property 15.1% FLI 2.2% Automotive 5.1% 14.0% 27.2% Gain on Lot Sale* 11.8% Banking 53.3% Banking 52.1% *Material subseque
Slide 24: Banking
is a, <> Metrobank Metrebank 4 pepe oe oo A EA) Vourre in good hands
Slide 25: Banking Sector Highlights
Banking Sector Highlights Deposit accounts per 1,000 individuals ASEAN Members and Observers, 2019 2,317 2,219 Deposit accounts per 1,000 2,076 1,699 1,616 individuals 1,195 672 658 426 383 Singapore Malaysia Brunei Thailand Indonesia Vietnam Lao PDR Philippines Cambodia Myanmar Source: Internationa
Slide 26: Loose Monetary and Quantitative Easing
Loose Monetary and Quantitative Easing RRR cuts to support liquidity Deep policy rate cuts to record-low level 20% 20% 20% 4.50% 4.75% 18% 18% 4.00% 4.00% 4.00% 20% 3.50% 14% 2.25% 3.00% 12% 2013 2014 2015 2016 2017 2018 2019 9M20 2013 2014 2015 2016 2017 2018 2019 9M20 Supported by low inflation BS
Slide 27: PH Big Three Banks Adequately Capitalized
PH Big Three Banks Adequately Capitalized The country’s largest banks have substantial capitalization above the minimum set by BSP December 31, 2009 September 30, 2020 Global Financial Crisis Covid-19 Pandemic CAR Tier 1 CAR CET1 19.9% 19.0% 14.3% 14.7% 16.4% 13.0% 15.5% 12.2% 14.3% 13.2% Min. CAR 1
Slide 28: Peer Banks Highlights 9M 2020
Peer Banks Highlights 9M 2020 Pre-Provision Operating Profit (Php Billion) NPL Ratio (%) +0.77% +0.73% +1.17% +41.3% 2.98% +13.3% +22.1% 2.25% 53 52 41 1.97% BDO MBT BPI BPI MBT BDO Net Interest Margin – NIMs (%) NPL Coverage (%) +78% +24bps +20bps +18bps -30.2% +1.1% 4.36% 4.11% 3.51% 174% 138% 100
Slide 29: Asset Quality
Asset Quality Metrobank proactively beefed up provisions even as NPL formation remained benign NPLs amount (Php Bn) NPL Ratio better than industry 28.3 MBT UKB 21.4 2.96% 19.3 2.30% 1.52%1.60% 1.30% 1.60% 9M 2019 FY 2019 9M 2020 9M 2019 FY 2019 9M 2020 Provision and Credit Cost NPL Cover Provisions
Slide 30: Loan Portfolio Performance
Loan Portfolio Performance MBT Loans By Segment - Php Bn Industry Loan Growth vs. GDP Growth As of 9M2020 Loan Growth GDP Growth Mid Est. High Est. Low Est. Commercial Consumer 17.4% 19.3% 15.8% -13.2%YoY 1,412 11.0% 9.6%(S&P) 1,226 24% 6.6% 26% 0.5% (11M) 5.9%(W.B.) 6.9% 6.7% 6.2% 5.9% 76% 74% • 54
Slide 31: Financial Highlights 9M 2020
Financial Highlights 9M 2020 Strong results across all metrics, moderated by proactive provisioning and reserves buildup Net Income Pre-Provision Operating Profit Resilient core business; continued build up of -49% • Strong Pre-Provision Operating Profit Php52.4B +41% reserves +41% 52.4 21.6 o Stron
Slide 32: Healthy double-digit deposit growth
9 Months 2020 Healthy double-digit deposit growth Low-cost CASA increased to over 70% Deposit Base CASA Ratio CASA Deposit Balance CASA TD Total Deposits 1,734 1,577 +10% 29% 36% 506 572 1,228 64% 71% 1,005 CASA +22% 9M2019 9M2020 9M2019 9M2020 Source: 17-C Report as of 30 September 2020 34
Slide 33: Sustained NIM expansion
9 Months 2020 Sustained NIM expansion Net Interest Margin (NIM) MBT UKB 4.11% 3.91% NIMs consistently above industry and improved significantly 3.68% • +20 bps vs. 9M 2019 3.43% NIM drivers • CASA ratio improved to 71% 9M2019 9M2020 Source: 17-C Report as of 30 September 2020 35
Slide 34: Customer Touchpoints
Customer Touchpoints Clients enrolled in e-channels (as of Q3 2020) 23% Enrolled +194% Mobile App Ratings mobile app downloads Q3 2019 vs. Q3 2020 Weighted No. of Ratings Average (In ‘000) Monthly Enrollments 4.5 17.7 53K 149k >4 Million client base Jan. 2020 Sept. 2020 4.1 3.0 3.9 9.9 % E-Channels
Slide 35: Summary of Key Messages
Summary of Key Messages • Despite challenges, Metrobank’s core business performance is resilient: solid NII growth +17%, NIM expansion +20 bps, strong CASA +22%, robust revenue growth +20%, all leading to sustained improvement in Cost-to-Income Ratio of 54% • Guided by lessons from past crises, the
Slide 36: Automotive
Rising Together to New Heights Partners for Automotive Good 40
Slide 37: Motorization amid low motor vehicle penetration
Motorization amid low motor vehicle penetration Motor vehicle penetration in ASEAN Motor vehicle penetration per 1000 Vehicles per 1,000 individuals, 2019 individuals versus GDP per capita (PPP concept) Vehicles per 1000 individuals 1,232 452 251 165 96 45 26 Source: Organisation Internationale des
Slide 38: Comprehensive Auto Resurgence Strategy (CARS)
STRICTLY CONFIDENTIAL Comprehensive Auto Resurgence Strategy (CARS) Implementing Rules and Regulations – 23 December 2015 Incentives, Rationale and Regulations • Manufacturing of model, body shell, large plastic assemblies, common parts, OEM parts, and shared testing facility are covered • Php9.0 bi
Slide 39: CARS Program Updates
CARS Program Updates Comprehensive Automotive Resurgence Strategy Php5.8 B Total Toyota CARS Project Php1.3 Aggregate Investment Plan as of Feb 2021 billion Investments Out-house parts projects 30% 50% 58% BOI-registered auto parts partners Php520.0 before Gov’t CARS actual CARS requirement million
Slide 40: CARS Unit Sales Progress
CARS Unit Sales Progress Units sold of Toyota Vios since launch of CARS Program model launched in July 2018 to date (cumulative) Dec 2020 June 2019 June 2020 74,790 26,933 57,170 Dec 2018 Dec 2019 11,336 44,500 Sept 2018 March 2019 3,503 18,423 Aug 2018 1,658 Introduction of FMC Vios July 2018 222
Slide 41: Automotive Sector Updates: Industry Unit Sales FY2020
Automotive Sector Updates Industry Unit Sales, FY2020 Industry 242,188 -41% Toyota 100,019 -39% exceeded 100k target 41.3% Market Share JUNE JULY AUGUST SEPTEMBER OCTOBER Source: CAMPI and AVID 45
Slide 42: Automotive Sector Updates: Monthly Retail Vehicle Sales
Automotive Sector Updates Industry Monthly Retail Vehicle Sales 6% -67% -24% -29% -34% -22% -14% 32,539 36,150 Units 2019 Units 2020 % YoY 34,862 37,630 37,655 37,487 30,160 32,678 29,007 34,025 35,267 34,504 19,804 12,104 30,610 -100% -85% -53% 26,828 29,217 26,087 22,249 26,595 24,667 133 5,149 16
Slide 43: Automotive Sector Updates: Inquiries and Market Share
Automotive Sector Updates Monthly Inquiries Monthly Inquiries (NCR and Outside NCR) 13,640 14,344 15,383 13,143 16,791 18,366 70% 68% 69% 63% 64% 73% 73% 100% May June July Aug Sep Oct 30% 32% 31% 37% 36% 27% 27% 0% %Online 65% 36% 37% 37% 41% 42% Mar Apr May Jun Jul Aug Sep Oct %Walk-in 18% 39% 38%
Slide 44: Auto Industry Sales by Vehicle Type FY 2020
STRICTLY CONFIDENTIAL Automotive Sector Updates Auto Industry Sales by Vehicle Type FY 2020* SMALL PC SUV OTHERS 9% SMALL PC 22% MPV 20% PC HATCHBACK PC HATCHBACK PICK-UP 9% PICK-UP SUV 20% 20% Toyota launched models in segments that are in high demand in the Philippines. *December CAMPI figures onl
Slide 45: New Model Launches 2020
STRICTLY CONFIDENTIAL New Model Launches 2020 Monthly Inquiries 5,000 4,000 4,046 3,059 Rising number of 3,000 2,200 monthly inquiries 2,000 following the launch 2,001 1,000 of the new models 0 243 May Jun Jul Aug Sep Oct Wigo Vios Corolla Cross Hilux Fortuner JUNE JULY AUGUST SEPTEMBER OCTOBER 49
Slide 46: Dealership Update
Dealership Update Restarting full operations Target by end of year 2014 2015 2016 2017 2018 2019-20 after ECQ Number of Dealers 45 49 52 61 69 71 LUZON Location NCR Luzon Visayas Mindanao Total Open as of May 1 (GCQ) 0 7 7 6 20 28 Open as of May 20 (MECQ) 18 28 10 10 66 Open as of June 1 19 28 14 10
Slide 47: Price Comparable by Category
Price Comparable by Category in Million Philippine Peso (PHP) In Million PHP Toyota Hyundai Honda Mitsubishi Model Camry Accord Price 1.871 2.072 2.308 Model Corolla Altis Elantra Civic Price 1.014 1.610 0.970 1.065 1.115 1.615 Model Vios Accent (Sedan) City Mirage G4 Price 0.671 1.071 0.790 1.038 0
Slide 48: Price Comparable by Category in USD
Price Comparable by Category in United States Dollars (USD) Toyota Hyundai Honda Mitsubishi Model Camry Accord Price 38,898 43,077 47,983 Model Corolla Altis Elantra Civic Price 21,081 33,472 20,166 22,141 23,181 33,576 Model Vios Accent (Sedan) City Mirage G4 Price 13,950 22,266 16,424 21,580 17,63
Slide 49: Toyota Brand Attributes
Toyota Brand Attributes Globally trusted brand QUALITY, DURABILITY, RELIABILITY (QDR) Dealership network offering full range of services Availability of original parts, supplies and service High resale value (up to 50% of Corporate policy of manufacturing original selling price for 5 years old origi
Slide 50: Acquisition of Toyota Santa Rosa Dealership
October 2020 Acquisition of Toyota Santa Rosa Dealership Strategic Partnership Structure 60% 40% 60% Php516 40% Php344 Million Million Cash paid Cash paid Php860 Mn Valuation for 100% Php110 Mn Dividend upflow to GT Capital • GTCAD will chair the Board and hold key Finance roles • TCS will assume ma
Slide 51: Acquisition of Toyota Santa Rosa Dealership: Strategic Rationale
October 2020 Acquisition of Toyota Santa Rosa Dealership Dealer network expansion Strategic partnership w/ best-in-class brand • One of Japan’s leading dealership groups Toyota Subic Toyota Cubao • TCS’s first joint Toyota Marikina venture outside Japan Toyota Manila Bay Toyota Abad Santos 7 • Gives
Slide 52: TMP Vehicle Sales vs. Inflation and Consumer Confidence
TMP Vehicle Sales vs. Inflation and Consumer Confidence Toyota Vehicle Sales (Absolute YoY Change) vs. Inflation (In %) and BSP Consumer Expectations Survey (In %) 8,000 6,000 6.7 4,000 1.3 2,000 Sept. 0 -2,000 -4,000 -22.5 -6,000 2.3 -8,000 -10,000 -12,000 0.8 -54.5 -14,000 2017 2018 2019 2020 Toyo
Slide 53: Monthly Toyota unit sales approaching 2019 levels
Monthly Toyota unit sales performance is steadily approaching 2019 (pre-Covid) levels Toyota 2020 Monthly Unit Sales as a Percentage (%) of 2019 Monthly Unit Sales 140% 133% 120% 100% 100% 86% 78% 79% 80% 71% 73% 63% 61% 60% 51% 40% 35% 18% 20% 0% 0% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec S
Slide 54: Updates on Toyota Financial Services
Updates on Toyota Financial Services Penetration Rate Applications 2019 2020 40% Toyota Market 80% 20 % pay in cash 21,442 22,183 21,704 Share of Toyota car buyers choose 19,321 financing 18,347 17,659 16,488 16,540 15,11814,461 14,485 15,222 17,076 9M 2019 9M 2020 16,941 15,004 15,050 14,481 13,912
Slide 55: Updates on Banking Sector Auto Loans
Updates on Banking Sector Auto Loans Auto loan portfolios, all in Billion Php Philippine Banking System Universal and Commercial Banks 568.7 568.9 569.2 567.9 564.0 561.0 379.8 384.6 385.5 385.9 384.9 382.4 377.3 372.1 552.1 550.9 554.9 371.0 364.5 368.2 543.0 545.3 557.4 345.1 374.2 527.8 530.1 524
Slide 56: Mobility Initiatives and Digital Transformation
Digital Transformation Mobility Initiatives KINTO ONE Leasing Virtual Showroom Balloon Payment Plus Connected Auto Loan MyToyota.PH Fleet Management 1.123 Mn Views Logistics Cargo On-Demand Shuttle 1.219 Mn Virtual Model Booking App Views Launches 69
Slide 57: DTI Safeguard Measures Admin Order 20-11
Automotive Sector Updates DTI Safeguard Measures Admin Order 20-11 • While waiting for IRR, Impact to consumers can be amortized over time business as usual • Considering ways to Php70,000 over 5 years minimize impact to customers Monthly increase of • Protect margins, in line with Php1,166 competit
Slide 58: DTI Safeguard Measures: 2021 Outlook
Summary of Key Messages DTI Safeguard Measures Admin Order 20-11 • Outlook for 2021 based on macro indicators (original projection without impact of safeguard duties) • Market 320,000 (+32%) / Toyota 130,000 (+30% and share of 40+%) • Assuming implementation of duties in February, current estimates
Slide 59: New Investments
DTI Safeguard Measures Admin Order 20-11 New Investments TMP continues to invest in the development of the Philippine auto industry Partner in Progress Driver of Growth TMP remains committed to supporting The auto industry is a key driver of economic government’s aims to stimulate the activity and a
Slide 60: New Logistics Hub Investments
DTI Safeguard Measures Admin Order 20-11 New Logistics Hub Investments Php4.7 32 hectares Billion Logistics Hub land area in Batangas for pre-delivery inspection and Q4 2021 post-production installation expected start of operations 160,000 inspection and post-prod installation capacity 4,500 units s
Slide 61: TMP is one of the country's largest employers
DTI Safeguard Measures Admin Order 20-11 TMP is one of the country’s largest employers 60,000 full capacity 35,842 units TMP did not lay TMP hired an produced in 2020 off any of its regular additional 500 57% production production members in utilized workforce during the September 2020 to ECQ (stric
Slide 62: In case of consumer substitution, TMP has CKD capacity
DTI Safeguard Measures Admin Order 20-11 In case of consumer substitution, TMP has CKD capacity Opportunities for TMP • Largest auto manufacturer in the Phils. FY Unit Sales 2020 Segment Share 2019 Segment Share • Capacity at Sta. Rosa plant: 60,000+ units • Only 57.8% utilized (35,841 units, 2020)
Slide 63: Automotive Sector Summary of Key Messages
Automotive Sector Summary of Key Messages • Full-year 2020 unit sales target of 100,000 units was exceeded with a dominant 41.3% overall market share • Unit sales continued to recover from near-zero sales in April, reaching 86% of 2019 sales in December 2020 • TFS provides Toyota with an in-house co
Slide 64: Property Development
FEDERAL LAND GT Capital Holdings Property ect CASE ‘ Development x y HOLDINGS INCORPORATED 7
Slide 65: Federal Land Recent Developments
Federal Land Recent Developments Contractor Manpower Deployment As of December 2020 9,293 ECQ MECQ GCQ MECQ GCQ • Lump sum payments awaiting under 5,593 6,554 6,703 turnover of units to buyers quarantine 3,634 3,221 3,928 3,794 345 427 Jan • Balance of Php4.7 B in lump sum Pre-ECQ April May June Jul
Slide 66: Reservation sales show recovery
Federal Land Recent Developments Reservation sales show recovery from Apr-Dec Monthly Reservation Sales, 2020 in million Php 1,319 +278% Average Growth Rate +16% versus April 2020 945 956 769 708 464 483 349 202 Apr May Jun Jul Aug Sep Oct Nov Dec 79
Slide 67: Projects Approved for Resumption
28 Projects Approved for Resumption Construction Update As of September 2020 HLURB, LGU, DPWH, Local Associations POC Challenges: 23 Residential Projects • Limited mobility • Manpower constrained by Covid-19 PBW-Misibis PBW-Siargao PBW-Coron PBW-Baler Mi-Casa-Hawaii • Limited productivity due to com
Slide 68: Project Launches in 2021
Project Launches in 2021 Quantum Siena Residences 2 MARIKINA Residences Tower 3 (Amber) TAFT AVENUE March October 832 units, Php3.5B 297 units, Php1.5B 7 launched in 2011 The Seasons Residences 3 Project 11 launched in 2012 5 launched in 2013 Aki Tower Launches 4 launched in 2014 BGC 3 launched in 2
Slide 69: Land Bank Location
Land Bank Location Land Bank Location (in hectares) Macapagal Metro Manila Metro Manila Quezon City Kalaw, Manila Bay Area, Pasay 14.8 Marikina Ermita, Manila Fort Bonifacio Marikina 8.8 Mandaluyong Mandaluyong 5.3 Makati Fort Bonifacio 1.9 Binan Laguna Binondo Manila Kalaw, Manila 0.6 Paranaque 0.3
Slide 70: Exchange of Pro-Friends Shares for Land
Exchange of Pro-Friends Shares for Land Agreement signed on 10 May 2019 Approximately Redemption 702 hectares Php20 of 64,530,712 of selected assets Billion Series A Preferred Shares in PCFI (51% of PCFI) 83
Slide 71: Redemption of Shares
NLEX-SLEX Connector Road NAIA Expressway Redemption of Shares C-5 South Link Entertainment City CAVITEX LRT-1 Area in hectares Extension Lancaster (Imus and Alabang General Trias) Bellefort (Bacoor) 592.28 88.50 CALAX MCX TARGET COMPLETION Daang Hari DATES: Carmona 20.29 CAVITEX - 2021 CAVITEX C-5 S
Slide 72: Monetization of Land Assets
Monetization of Land Assets 14 October 2020 • MOA signed last October for joint development agreement (JDA) of 100 hectares with a strategic anchor investor • 39 hectares sold as part of JDA (15 ha in October and 24 ha in December) • 17-Q FS Notes: Material Subsequent Event Php0.9 B net income reali
Slide 73: aor
, 30 7) 2 9 o o 5 o aor eas 4 “e
Slide 74: Property Development: Cavite
Property Monetization of Land Assets Development Cavite 88
Slide 75: Sequoia & Zone 3 / Rio Grande
Sequoia & CALAX Zone 3 / Rio Grande LANCASTER INTERCHANGE Phase 1 JDA DAANG HARI Extension GT RIVERVIEW INTERCHANGE 89
Slide 76: Rio Grande Masterplan
Rio Grande Daang Hari Masterplan Extension 300 Hectares Currently in discussion with three parties as strategic anchor investors/joint developers CALAX / GT Riverview Interchange Gov. Ferrer Road Municipal Hall LGU Road Connecting Arnaldo to Gov. Ferrer Road 90
Slide 77: Insurance
Rising Together to New Heights Partners for Insurance Good 91
Slide 78: Life Insurance Premium Income vs. PSEi Level
Insurance Industry Updates Life Insurance Premium Income vs. PSEi Level 250,000 * 9,000 Industry Premium Income (Php Mn) PH Investment Grade Rating, 8,000 Typhoon Yolanda 200,000 7,000 Average PSEi Level 6,000 150,000 Global Financial Crisis, US Inverted 5,000 Fed rate cuts, QE Yield Curve Fed “Tape
Slide 79: Life Premium Income vs. PH GDP
Insurance Industry Updates Life Insurance Premium Income %YoY vs. PH GDP 50% 10.0% 39% 42% Life Premium Income (%YoY) 40% 7.6% 7.1% 8.0% 6.8% 3.7% 6.7% 6.3% 6.3% 6.9% 6.3% 6.0% 6.0% 30% 4.2% 24% 4.0% PH GDP (%YoY) 22% 19% 20% 2.0% 1.1% 11% 13% 0.0% 10% 1% 1.7% 4.1% -2.0% 0% -4.0% -10% -3% -6.0% -7%
Slide 80: Insurance Rankings as of Full-Year 2019
Insurance Rankings as of Full-Year 2019 Life Insurance Market Share 17% based on Premium Income 12% 11% 8% 7% 7% 6% 5% 4% 4% Sun Life PRU Life UK Manulife BPI-Philam Philam Life BDO Life Insular Life FWD Allianz PNB General Insurance Market Share based on Premiums Earned 9% 7% 7% 7% 6% 6% 6% 4% 3% 3
Slide 81: AXA Recent Developments
AXA Recent Developments Life Annualized Premium Equivalent (APE) Non-Life Gross Written Premiums (GWP) In Php Mn In Php Mn 557 621 611 594 601 -25% 568 578 572 578 -10% 505 537 478 477 459 571 482 447 446 543 472 416 390 404 391 353 353 354 369 396 375 319 293 239 242 232 204 Jan Feb March Apr May J
Slide 82: AXA Recent Developments
AXA Recent Developments Net Income In Php Billion New Business Mix Virtual Selling to Total Life APE +21% % to Total Life APE In Php Billion ▪ AXA -24% 39% Virtual ▪ CPAIC >+100% 19% +4% 1.87 27% YoY 0.52 2.26 12% +43% 42% Virtual 24% YoY 0.36 2.55 1.94 69% 0.82 49% 0.49 0.31 (0.68) 9M 2019 9M 2020
Slide 83: Summary of Key Messages
Summary of Key Messages • Among our component companies, AXA Philippines exhibited the strongest results with a +21% net income growth in 9M2020 • Despite the lockdown, AXA was able to utilize its Virtual Selling platform well. • Protection and health products, now accounting for 27% of APE, drove t
Slide 84: Infrastructure and Utilities
Partners for Good Infrastructure and Utilities
Slide 85: Monthly Volume Dashboard
Monthly Volume Dashboard STRICTLY CONFIDENTIAL Approximating Pre-Covid Levels 99
Slide 86: Strategic Partnership Agreement between GT Capital and Metro Pacific
Strategic Partnership Agreement between GT Capital (GTCAP) and Metro Pacific (MPIC) Rationale Two transactions signed on 27 May 2016 • Diversification of power investments in the Visayas into the high-growth infrastructure and utilities sectors Acquisition of 15.55% of Metro Sale of 56% of Global Bu
Slide 87: Moving Forward
GT CAPITAL HOLDINGS INCORPORATED Moving Forward 2
Slide 88: Key Performance Indicators vs. Pre-Covid levels
Key Performance Indicators vs. Pre-Covid levels Net Interest Income (Php B) Retail Vehicle Sales (‘000 Units) Reservation Sales (Php B) 23.1 16.4 15.6 15.9 3.7 14.6 14.1 13.9 12.3 12.9 13.1 13.5 3.1 21.4 21.4 11.4 11.4 11.7 2.4 2.5 9.3 8.8 8.0 2.2 20.8 7.5 13.7 1.9 2.0 10.7 11.5 1.5 19.7 4.5 1.2 1.1
Slide 89: Parent Financial Highlights Dashboard
Parent Financial Highlights Dashboard Strong position Net gearing and Parent 2.3x Unutilized Short-Term Lines Net Debtcoverage interest to Bank covenant Equity Php34 B ratios 1.1x At various scenarios Internal target Conso Cash Php17 B 0.6x As of 9M2020 Parent Cash Php10 B Continued financial health
Slide 90: GT Capital secures Covid-19 vaccines for all
GT Capital secures Covid-19 vaccines for ALL Group-wide employees and households We pre-ordered that of all regular and contractual GTCAP Group 455,000 will cover employees plus household total doses 100% (including all 71 Toyota dealerships) ALL employees targeted to be vaccinated by October 2021,
Slide 91: Summary
GT CAPITAL a: fetrereree- eH a ttt HEE ease ean \e
Slide 92: Our Key Messages
Our Key Messages • We will likely hit consensus of approximately -57% core net income delta in FY2020 • GT Capital’s strong core businesses are all poised for recovery when the pandemic eases and as vaccines start to be distributed. • Our component companies have all moved toward digital platforms,
Slide 93: Thank You!
Thank You! Partners for Good For more information, Visit gtcapital.com.ph/investor-relations or contact IR@gtcapital.com.ph