Jg Summit Holdings Inc. · PSE:JGS
Jg Summit — 9M 2024 Earnings Presentation
19 slides from Jg Summit's earnings presentation, Nov 13, 2024
Slide 1: 9M2024 Unaudited Results Investor Briefing
9M2024 Unaudited Results Investor Briefing 13 November 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: 3Q & 9M2024 Unaudited Results
3Q & 9M2024 Unaudited Results
Slide 4: 3Q core net income fell on lean airline season, record-low polymer spreads and smaller sugar & resi profits
3Q core net income fell on lean airline season, record- low polymer spreads and smaller sugar & resi profits In Php billion % change • JGS’ consolidated revenues were flat YoY as (1) URC faced headwinds in its YoY domestic businesses, (2) RLC realized lower residential revenues from units sold 3Q23
Slide 5: JGS' 9M profits improved YoY on double-digit topline expansion and bank merger gains
JGS’ 9M profits improved YoY on the back of double- digit topline expansion and bank merger gains In Php billion • Despite inflation headwinds persisting into 3Q, all BUs posted topline growth in % change YoY 9M24 due to healthy demand for travel and leisure, higher propensity towards 9M23 9M24 valu
Slide 6: URC: Robust BCF International business outweighs tepid domestic market performance
URC: Robust BCF International business outweighs tepid domestic market performance Revenue ▲1% by division • URC International and BCF PH RTD Beverages led topline with high 117.2 118.9 single digit and low double-digit growth, respectively. This helped offset % chg vs LY declines in domestic Coffee
Slide 7: RLC: Significant investment portfolio contributions drive earnings growth against challenged Resi segment
RLC: Significant investment portfolio contributions drive earnings growth against challenged Resi segment Revenue ▲ 4% by division % chg vs LY • Double-digit revenue growth from RLC’s strong investment portfolio, 28.3 29.3 which contributed 77% to total, more than offset the decline in realized 4% 5
Slide 8: CEB: YoY passenger growth continued to outpace capacity additions as lower fares spur demand
CEB: YoY passenger growth continued to outpace capacity additions as lower fares spur demand Revenue ▲11% by division • Revenues up vs SPLY propelled by 13% more passengers flown (17.5 66.9 74.5 % chg vs LY mn pax) in 9M24. This was slightly tempered by a 2% decline in YTD 26% average fares to stimu
Slide 9: JGSOC: Challenging market conditions continue to undermine larger volumes from higher plant utilization
JGSOC: Challenging market conditions continue to undermine larger volumes from higher plant utilization Revenue ▲53% by division • Fuller adoption of a more deliberate pricing tool from Project Sarimanok further maximized the increased volumes from higher plant run rates, 39.0 significantly boosting
Slide 10: Core Investments
Core Investments EQUITY INCOME(2) EQUITY INCOME(2) DIVIDENDS RECEIVED DIVIDENDS RECEIVED 8.7 7.3 2.6 1.3 2.3 1.2 0.4 - 9M23 9M24 1H23 1H24 9M23 9M24 9M23 9M24 • 19% up YoY with record high • Robust hotel performance • Increase in regular dividends • With the merger’s distribution utility sales plus
Slide 11: Ecosystem Plays
Ecosystem Plays • Now the fastest growing bank in the PH in terms of new customer acquisition or transaction growth, leading GoTyme to take over as the largest digital bank in the PH • Onboarded 4.4 million customers (at a rate of around 300,000 customers onboarded per month) and grew deposit book t
Slide 12: JGS: Sustained growth backed by a sturdy balance sheet
JGS: Sustained growth backed by a sturdy balance sheet Consolidated Parent Dec 2023 Sept 2024 % Chg Dec 2023 Sept 2024 % Chg Cash1,2 49.6 58.8 18% Cash1 12.2 16.4 34% Financial Debt 301.7 312.6 4% Total LT Debt 63.1 63.4 0% Total LT Debt 238.1 241.3 1% Total ST Debt 6.2 0 -100% FX-Denominated 81.5 9
Slide 13: CAPEX grows 8% YoY with CEB's additional fleet capacity and RLC's investment portfolio expansion
CAPEX grows 8% YoY with CEB’s additional fleet capacity and RLC’s investment portfolio expansion 9M24 68.5 63.4 3.1 • Continued investment in the development of the Malvar mega plant, which will remain for the 4.8 Others balance of the year 17.8 15.8 RBank • Development of Opus Mall, offices (GBF 1
Slide 14: Sustainability Updates
Sustainability Updates We continue to deepen our sustainability commitment as we establish new heights in achieving sustainability credentials Educate Leaders Engage with Stakeholders Empower the Group Increase understanding of International Financial Understand the expectations of our stakeholders
Slide 15: Thank You!
1G HOLDINGS, INC Thank You!
Slide 16: Appendix
1G HOLDINGS, INC Appendix
Slide 17: Corporate Structure
Market Capitalization: Corporate Structure ₱178.2 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 Sep 2024 Cash & cash equivalents (including Financial assets at FVPL and financial assets at FVOCI) 53,606 60,550 Assets held for sale 170,694 - Other current assets 173,638 175,709 Investments in Associates and JVs - net 152,001 158,426 Property, pl
Slide 19: Income Statement
Income Statement (Php Millions) 9M23 9M24 YoY REVENUES 251,110 276,955 10% Cost of sales and services 173,788 193,992 12% GROSS INCOME 77,322 82,963 7% Operating Expenses 41,351 46,349 12% OPERATING INCOME 35,972 36,614 2% Financing costs & other charges (11,319) (14,420) 27% Finance income 1,486 1,