Lt Group, Inc. · PSE:LTG
Lt — H1 2024 Earnings Presentation
9 slides from Lt's earnings presentation, Aug 12, 2024
Slide 1: Analysts' Briefing: 1st Half 2024 Financial Results
Click to edit Master title style ANALYSTS’ BRIEFING 1st Half 2024 Financial Results August 12, 2024 11/5/2024 1
Slide 2: Consolidated Income Statement Highlights
Consolidated Income Statement Highlights (In Php Billions) 1H24 1H23 Inc/ (Dec) % Change REVENUES Banking 36.35 32.05 4.30 13.4% Distilled Spirits 14.58 12.70 1.88 14.8% Beverage 8.95 8.11 0.84 10.4% Property Development 1.25 1.15 0.10 8.7% Tobacco - - - Total Revenues 61.13 54.01 7.12 13.2% Cost of
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 1H24 1H23 1H24 % to total Inc/(Dec) % 1H23 % to total Banking 10,290 9,762 5,768 45% 249 5% 5,519 42% Tobacco 4,891 5,848 4,871 38% (954) (16%) 5,825 45% Distilled Spirits 712 626 712 6% 89 14% 623 5% B
Slide 4: Consolidated Balance Sheet Highlights
Consolidated Balance Sheet Highlights (In Php Billions) As of: Jun '24 Dec '23 Inc/(Dec) % Change Cash 267.2 243.8 23.4 9.6% Total Assets 1,372.7 1,327.4 45.3 3.4% Total Liabilities 1,060.1 1,027.2 32.9 3.2% Total Equity 312.6 300.2 12.3 4.1% D-E Ratio 3.39 3.42 (0.03) D-E Ratio (w/o bank) 0.11 0.12
Slide 5: Income Statement: Banking
Income Statement (In Php Millions) 1H24 1H23 Inc/(Dec) % As of As of As of Balance Sheet Net Interest Income (In Php Billions) Jun '24 Jun '23 Dec '23 Interest Income 32,969 28,277 4,692 17% Interest Expense 8,939 6,662 2,277 34% COH & Due from Banks 265 243 243 24,030 21,615 2,415 11% FA at FVTOCI
Slide 6: Income Statement: Tobacco
Income Statement (In Php Millions) 1H24 1H23 Inc/(Dec) % Segment Revenue - - - Cost of Sales - - - Gross Profit - - - Equity in Net Earnings fr PMFTC 4,433 5,677 (1,244) (22%) 4,433 5,677 (1,244) (22%) Operating Expenses 87 89 (2) (2%) Operating Income 4,346 5,588 (1,242) (22%) Other Inc./(Charges)
Slide 7: Income Statement: Distilled Spirits
Income Statement (In Php Millions) 1H24 1H23 Inc/(Dec) % Sales Volume (liquor) 10.489 9.795 0.694 7% Sales Volume (bio, ltr) 20.724 18.172 2.552 14% Segment Revenue 14,628 12,738 1,890 15% Cost of Sales 12,626 11,116 1,510 14% Gross Profit 2,002 1,622 380 23% Gross Profit Margin 14% 13% +1%pt OPERAT
Slide 8: Income Statement: Beverage
Income Statement (In Php Millions) 1H24 1H23 Inc/(Dec) % Segment Revenue 9,403 8,409 994 12% Cost of Sales 7,289 6,500 789 12% Gross Profit 2,114 1,909 205 11% Gross Profit Margin 22% 23% -1%pt Operating Expenses 1,376 1,336 40 3% Operating Income 738 573 165 29% Equity in net income 32 25 7 28% Oth
Slide 9: Income Statement: Property Development
Income Statement (In Php Millions) 1H24 1H23 Inc/(Dec) % Segment Revenue Residential 105 - 105 - Leasing 1,005 960 45 5% Cost of Sales Residential 61 - 61 - Leasing 524 466 58 12% Gross Profit Residential 44 - 44 - Leasing 481 494 (13) (3%) Eton City Square, Laguna Gross Profit Margin Residential 42