JG Summit Holdings Inc. · PSE:JGS
JG Summit — Shareholder Meeting (June 2014)
18 slides from JG Summit's shareholder meeting presentation, Jun 26, 2014
Slide 1: Annual Shareholders' Meeting
26 June 2014 Annual Shareholders’ Meeting
Slide 2: Key Milestones and Recent Developments
Key Milestones and Recent Developments Completed the largest Philippine corporate US Dollar bond issue, raising January US$750 million with a 4.375% coupon and a 10 year maturity, as well as a 2013 US$250 million syndicated loan . October Raised US$280 million from the sale of its 4.81% stake in URC
Slide 3: Growing Revenues & Earnings from Strong Operations
Growing Revenues & Earnings from Strong Operations Revenues in PhP billion 135.6 9% 147.6 12% 38.5 43.2 2012 2013 1Q2013 1Q2014 EBITDA in PhP billion 16% 34.2 15% 29.5 10.1 11.6 2012 2013 1Q2013 1Q2014 Core Net Income in PhP billion 22% 11.0 13.4 12% 4.8 5.3 2012 2013 1Q2013 1Q2014 3
Slide 4: Strong Operating Performance
Strong Operating Performance Growth 1Q 1Q Growth 2012 2013 In Php Billions % 2013 2014 % Revenues 135.60 147.6 +9% 38.51 43.23 +12% Operating Income 20.97 24.28 +16% 7.81 8.96 +15% Market valuation gain/(loss) on FVPL 1.87 0.31 -83% 0.25 0.01 -96% and derivatives Foreign Exchange gain/(loss) – Net 1
Slide 5: Solid Balance Sheet Position
Solid Balance Sheet Position Growth 2012 2013 1Q 2014 In PhP Billions % Cash* (inc Financial Assets and AFS Inv’ts) 41.31 41.76 38.62 -8% Total Assets 340.38 463.82 482.98 +4% Total Financial Debt** 81.08 122.38 158.17 +29% Total Liabilities 141.90 232.01 246.18 +6% Total Equity Stockholders’ Equity
Slide 6: Consistent Returns to Shareholders
Consistent Returns to Shareholders in PhP Million 1,223 1,088 544 340 2010 2011 2012 2013 Dividend per Share 0.05 0.08 0.16 0.18 (PhP) Payout Ratio 4% 3% 5% 9% 6
Slide 7: Steady Dividend Stream
Steady Dividend Stream in PhP billion Others PLDT UIC Ceb RLC URC 8.6 9.0 7.3 8.0 3.2 7.0 5.2 2.5 6.0 0.9 5.0 0.9 2.5 0.8 4.0 2.7 0.4 0.5 0.5 3.0 1.5 1.2 0.9 2.0 2.9 3.0 0.4 1.2 0.8 1.0 0.8 0.3 0.5 0.5 0.1 0.0 0.1 0.2 - 2009 2010 2011 2012 2013 7
Slide 8: Share Price Performance
- 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 45.0 50.0 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Share Price Performance Aug-11 Sep-11 Oct-11 Nov-11 JGS Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 PCOMP Jul-1
Slide 9: Capex Spending to Drive Growth
Capex Spending to Drive Growth Rbank Rbank P0.2bn Petroche URC m P0.1bn 1% P5.5bn 0% URC P5.0bn P9.0bn Petrochem 16% 11% P8.3bn 21% 23% PhP 35.9Bn PhP 44.2Bn RLC P16.0bn CEB 36% RLC P12.7bn CEB P9.1bn 35% P14.1bn 25% 32% TOTAL 2013 CAPEX ESTIMATED 2014 CAPEX BUDGET 9
Slide 10: Food
Food Revenues Market Share (in PhP billion) MARKET CATEGORY #1 #2 #3 SHARE Snacks 39% URC 25% 8% 81.0 Candies 35% URC 12% 11% 71.2 14% Chocolates 24% URC 9% 9% Biscuits 16% 34% 28% URC Cookies 28% URC 24% 12% 40.3 45.7 Pretzels 44% URC 30% 12% 13% Canned Beans 81% URC 8% 5% Cup Noodles 46% 52% URC 2
Slide 11: Food URC International
Food URC International Market Share (In PhP billion) THAILAND* Revenue EBIT 22.1 CATEGORY MARKET #1 #2 #3 20.2 SHARE 9% Biscuits 21% URC 11% 10% 10.7 11.8 20% Wafers 21% URC 11% 10% 10% 20% VIETNAM* 1.7 2.1 1.0 1.2 RTD Tea 32% 46% URC 5% 2012 2013 1H2013 1H2014 Source: AC Nielsen Retail Index March
Slide 12: Property
Property Revenues EBITDA Breakdown (in PhP billion) FY2013: PhP 8.43bn Hotels 15.9 Office Buildings Office 13.5 18% Residential Hotels Buildings PhP0.3bn Investment Commercial Centers PhP0.7 bn 6% Portfolio: 84% 16% 7.9 7% 8.5 Residential Commercial PhP 0.7bn Centers Development 17% PhP2.8 bn Portfo
Slide 13: Airlines
Airlines Operational Highlights Revenues 2012 2013 1Q1 Growth (in PhP billion) 2014 % Total Passenger Volume (m) 13.3 14.4 3.8 +7 8% 41.0 Seat Load Factor 82.6% 81.9% 82.4% -1.5 37.9 Ave. Fare/Pax (PhP) 2,232 2,206 2,337 +1 Ancillary/Pax (PhP) 448 469 591 +16 12% 10.5 11.8 Total Ave Yield/Pax (PhP)
Slide 14: Other Businesses
Other Businesses Source: Company Filings Revenues Core Net Income * (in PhpBillion) (in Php Billion) 285.3 298.6 17.0 16.3 64.8 55.1 4.0 4.1 2012 2013 1Q2013 1Q2014 2012 2013 1Q2013 1Q2014 Service Revenues Core Net Income (in Php Billion) (in Php Billion) 159.7 164.1 36.9 38.7 40.0 41.2 9.6 9.8 2012
Slide 15: Other Businesses: Petrochem and Banking
Other Businesses Net Income (in PhP million) First Naptha Feed-In 452.3 • Currently in the process of starting up 390.6 16% the cracker, and have begun to 342.0 introduce naphtha at reduced rates into the furnaces so as to test the 91% operability of the interrelated systems. We are working to achie
Slide 16: Plans and Prospects
Plans and Prospects Commission Creamer factory in Vietnam and bio-ethanol facility in the Philippines. Finish construction of factory in Central Vietnam, URC Myanmar and Biomass Power Cogeneration facility in the Philippines. Execute improvements in selling systems in Indonesia and Thailand.
Slide 17: Thank You!
‘4 JG SUMMIT HOLDINGS, INC. Thank You!
Slide 18: Disclaimer
Disclaimer This presentation contains certain forward looking statements with respect to the financial condition, results of operations and businesses of JG Summit Holdings, Inc. (JG Summit). Such forward looking statements involve known and unknown risks, uncertainties and other factors which may c