Gt Capital Holdings, Inc. · PSE:GTCAP
Gt Capital — 9M 2021 Earnings Presentation
43 slides from Gt Capital's earnings presentation, Nov 15, 2021
Slide 1: Nine Months 2021 Financial and Operating Results Briefing
Nine Months 2021 Financial and Operating Results Briefing via Zoom Monday, 15 November 2021 2:30PM For more information, Visit gtcapital.com.ph/investor-relations or contact IR@gtcapital.com.ph
Slide 2: Macroeconomic Overview
Nine Months 2021 Macroeconomic Overview 5
Slide 3: Macroeconomic Overview: GDP and Inflation
Macroeconomic Overview PHL economy on the road to recovery GDP GDP (Quarterly %YoY) GDP expected to achieve FY target 7.1% Q3 2021 5.6 5.5 6.0 6.4 12.0 7.1 FY21 Est. New Prev. Consensus 4.4% 5.0% vs. 5.6% Q3 2021 consensus MBT Research 4.8% 4.5% 4.9% 9M 2021 -0.7 5.0% to 5.0% to -9.5% FY 2020 -3.9 F
Slide 4: Macroeconomic Overview: Policy Rate and OFW Remittances
Macroeconomic Overview BSP Policy Rate BSP Policy Rate 10Yr BVAL BSP expected to maintain 2.00% Peaked in 2018 7.06% accommodative monetary policy Overnight Reverse along with inflation Policy Rate Repurchase Rate New Prev. Unchanged 4.80% 4.85% FY21 Est. 4.42% 4.46% 3.81% 4.07% 5.17% 10Yr BVAL 4.75
Slide 5: Macroeconomic Overview: Consumer Industry
Macroeconomic Overview Consumer Industry Retail Vehicle Sales (Absolute YoY Change) BSP Consumer Expectations Survey Confidence 30,000 (Released September 24, 2021) 25 13.1 15 20,000 No survey in -19.3% Q3 2021 10,000 March 2020 5 vs. -30.9% Q2 2021 -5 0 -15 -25 -10,000 -22.5 Consumer Outlook: -35 -
Slide 6: 2021 Quarantine Status and Vaccine Arrivals
2021 Quarantine Status and Vaccine Arrivals Surge Delta Variant MECQ E M Quarantine Status GCQ ECQ Enhanced Modified GCQ C E GCQ Alert GCQ AL GCQ TBD General Community Community Enhanced C AL 2 (NCR+) Community (with restrictions) Q Level 4 3 Quarantine Quarantine Quarantine Q Jan Feb Mar Apr May Ju
Slide 7: GT Capital Group Vaccination Program
GT Capital Group Vaccination Program GT Capital commenced its vaccination program in partnership with the Manila Doctors Hospital and ActiveOne Health, Inc. on July 5, 2021 at Le Pavilion, Pasay City and at the Grand Hyatt, BGC. #healinGTogether #GTHasGotYourVacc #VaxForMetrobankGroup We pre-ordered
Slide 8: Consolidated Financial Highlights
Consolidated Financial Highlights 11
Slide 9: GT Capital Financial Highlights 9M 2021
GT Capital Financial Highlights 9M 2021 Consolidated Php8.7 Billion1 168% Core Php8.1 Billion 115% Net Income Php3.2 Billion 9M 2020 2 YoY Net Income Php3.7 Billion 9M 2020 YoY Operating Income Revenues Gross Premium Reported N.I. Revenues P75.9B -21% P7.7B +24% P32.8B +28% P12.4B +147% P94.3B +49%
Slide 10: GT Capital Net Income Contribution
GT Capital Net Income Contribution TFSPH TMBC AXA TFSPH TMBC AXA GTCAD 1.5% -0.3% GTCAD 4.6% 1.2% 0.4% 8.4% -0.2% 0.2% TMP TMP MPIC 15.7% MPIC 18.8% FLI 11.5% 17.2% 2.5% FLI MBT 7.5% MBT 60.4% 49.9% MBT + TMP = 76.1 % MBT + TMP = 68.7% 9M 2020 9M 2021 13
Slide 11: Component Company Highlights
Component Company Highlights 14
Slide 12: Key Messages: Metrobank
& Metrobank You're in good hands Key Messages
Slide 13: Summary of Key Messages
Summary of Key Messages • Metrobank reported strong net income growth of +46% • Proactive NPL management enabled the Bank to lower provisions. Peak NPL expectation still 4-5% • Loan volumes showing q-on-q improvement and margins remain stable • Healthy growth in fees and other income at +20% (servic
Slide 14: Property Industry Highlights
Property Industry Highlights 17
Slide 15: Residential Supply and Demand 9M 2021
Residential Supply and Demand 9M 2021 Metro Manila Residential Condominium Supply and Demand Residential Demand Mix High End Luxury Upscale Launches (Supply) Pre-sales (Demand) Middle Income Lower Middle 60,000 54K 53K 4% 12% 50,000 34% 42K43K 42K 30k units 40,000 9M 2021 33K33K 34K 32K 31K 30K 51%
Slide 16: Office Supply and Demand 9M 2021
Office Supply and Demand 9M 2021 Metro Manila Office Supply, Demand, Vacancy Rate Office Demand Mix Office Supply (Incremental) Office Take-up (Incremental) Vacancy Rate (Cumulative) BPO POGO Others 10.6% 15.4% 6.0% 3.0% 6.0% 5.3% 4.9% 1.2 0.38M 1.1 1.1 sqm 44% 1.0 55% 9M 2021 1.0 0.9 0.9 0.8 1% 0.8
Slide 17: GT Capital Holdings Financial Highlights
GT Capital Holdings Financial Highlights Gi GT CAPITAL HOLDINGS INCORPORATED 20
Slide 18: Federal Land Financial Highlights 9M 2021
Federal Land Financial Highlights 9M 2021 Monthly Reservation Sales (Php M) Contractor Workforce Deployment (% of Pre-Quarantine) 2020 2021 2020 2021 92% 3,687 89% 88% 90% 89% 80% 2,384 73% 75% 72% 75% 1,825 1,177 940 62% 59% 1,426 765 901 645 1,094 472 700 915 1,073 918 598 423 360 39% 34% 43% 41%
Slide 19: Summary of Key Messages
Summary of Key Messages • Higher contractor workforce vaccination and on-site deployment of 92% resulted in higher POC • Normalized turnover of RFO units • Favorably impacting JV contributions (BGC projects) +172% • Positive impact of higher POC and the CREATE Law resulted in a +425% growth in the c
Slide 20: Financial Highlights
Financial Highlights 23
Slide 21: AXA Financial Highlights 9M 2021
AXA Financial Highlights 9M 2021 Life APE Product Mix (In %) Key Messages 1% Life 1% RP-UL 24% • Strong performance in Life Insurance. APE +26% 46% 34% 42% P&H Single Premium Unit Linked (SP-UL) APE SP-UL 29% +80% 23% Others Clients bargain hunting in capital markets* 9M 2020: Php3.7B 9M 2021: P
Slide 22: Financial Highlights
Financial Highlights 25 25
Slide 23: MPIC Financial Highlights 9M 2021
MPIC Financial Highlights 9M 2021 Meralco Metro Pacific Tollways Key Messages Energy Sales PH Average Daily Traffic • MPIC: 9M2021 Core Income increased by 34,398 GWh +6% 458k +27% 23% due to higher contribution of its toll Core Income Core Income and power segments P18.1B +15% P2.7B +67% • Meralco:
Slide 24: Mr. Vince S. Socco, Chairman, GTCAD
Mr. Vince S. Socco Chairman GT Capital Automotive Dealership Holdings, Inc. (GTCAD) 27
Slide 25: Automotive Industry Highlights
Automotive Industry Highlights 28 28
Slide 26: Automotive Industry Highlights 10M 2021
Automotive Industry Highlights 10M 2021 Industry Monthly Retail Vehicle Sales (In Units) Retail Vehicle Sales 2021 2020 2019 27,863 10M 2021 as a % of: 225,189 Units 21,913 22,999 23,494 22,486 18,871 10M 2019 10M 2020 10M 2021 24,809 22,458 23,700* 67% 120% 16,596 +19.8%YoY *CAMPI + AVID estimate v
Slide 27: Toyota remains dominant: 45.8% in 9M 2021
Toyota remains dominant Overall Market Share as of Sept 2021 YTD 45.8% in 9M 2021 9M2021 9M2020 20 39.0% On track to achieve th No.1 No.1 No.1 Passenger Commercial Overall Car Sales Vehicle Sales Sales CONSECUTIVE TRIPLE CROWN 13.7% 7.2% 7.2% 6.4% 5.0% 4.5% 4.2% 3.1% 1.3% 0.6% 0.4% 0.3% MITSUBISHI S
Slide 28: Toyota Retail Sales Highlights 9M 2021
Toyota Retail Sales Highlights 9M 2021 20 TMP Sales in Metro Manila vs. Outside Metro Manila (% of total) On track to achieve Metro Manila Outside Metro Manila th 67% 63% 63% 64% 60% 58% 58% 60% 53% 51% 42% 42% CONSECUTIVE 40% 40% 36% 37% 36% TRIPLE CROWN 33% 46% 48% Toyota Market Share 2012 2013 20
Slide 29: Toyota CKD Model Performance 9M2021
Toyota CKD Model Performance 9M2021 Toyota CKD Models CKD/CBU Mix 9M2021 +65% Ramping up production capacity in Toyota Sta. Rosa CKD CBU CBU CKD YoY Sales Growth Assembly Plant 60% 37% Subcompact PC 42,027 63% units assembled Segment Share 10M 2021 9M 2021 +55% 10M2021 VS +37% YoY YoY Sales Growth 2
Slide 30: 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) Oct 2021 FIS claim of Php958 Million June 2019 June 2020 102,695 credited to TMP account 26,933 57,170 in November 2021 Dec 2018 Dec 2019 11,336 44,500 Sept 2018 March 201
Slide 31: Toyota New Model Launches
Toyota New Model Launches Performance Line Launched in October 2021 Source: TMP 34
Slide 32: Hybrid Models
Hybrid Models IS 300h 54% of total IS as of 10M2021 RX 450h As % of Total RX 27% 24% COROLLA ALTIS 1.8 V CVT COROLLA CROSS HV As % of Total Corolla As % of Total Corolla Cross 10M 2020 10M 2021 NX 300h As % of Total NX 40% 31% 19% 18% 12% 10% 10M 2020 10M 2021 10M 2020 10M 2021 10M 2020 10M 2021 35
Slide 33: Digitalization
Digitalization by by • Launched August 10, 2021 • Launched October 19, 2021 • Virtual Showroom • Link Credit Cards • Buy Accessories • Pay online, scan via QR, or access • Renew Insurance within myTOYOTA app • Book Service Appointments • Network Integrated with • Trade-In and Used Car Options Metrob
Slide 34: Recent Developments
GTCAD) GT CAPITAL AUTO DEALERSHIP HOLDINGS, INC. Recent Developments GT CAPITAL ‘ q HOLDINGS DN E37)
Slide 35: Updates on Premium Warranty
Updates on Premium Warranty Pre-owned vehicle 188-point inspection Warranty coverage on 200+ parts for pre-owned vehicles Commenced operations in September 2021 Inspected 1,080 vehicles as of Nov 10, 2021 Established an exclusive partnership with Carousell, the largest auto portal in the c
Slide 36: Automotive Sector Summary of Key Messages
Automotive Sector Summary of Key Messages • Despite the re-imposition of ECQ in August, TMP delivered strong results in the first ten months of 2021 • Toyota outperformed the auto market in 10M 2021 with sales of 103,475 units and market share of 46% • Increased production in the Toyota Sta. Rosa pl
Slide 37: Mr. Carmelo Maria Luza Bautista, President
Mr. Carmelo Maria Luza Bautista President GT Capital Holdings, Inc. 40
Slide 38: Moving Forward
Gh ~ GT CAPITAL HOLDINGS INCORPORATED TT. Moving Forward
Slide 39: Key Performance Indicators
Key Performance Indicators 2021 2020 2019 Bloomberg Consensus GDP GDP (%YoY) Net Income (Php B) Retail Vehicle Sales (‘000 Units) 12.0 7.1 5.5 13.1 11.2 11.2 16.1 11.7 7.8 10.8 10.8 9.9 9.2 10.8 -3.9 8.6 7.9 Q1 Q2 Q3 Q4 Q1 1H 9M FY Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Sales in APE (Php B)
Slide 40: Sustainability Updates
Sustainability Updates • S&P Global: GT Capital rated second among Philippine conglomerates • Sustainalytics: GT Capital rated “Low Risk”. Score of 14.7 as of November 2021 • MSCI: GT Capital ESG-rating at “BB” • We conducted Stakeholder Engagement / Materiality Assessment in November 2021, consulti
Slide 41: GT Capital Group Vaccine Donations
GT Capital Group Vaccine Donations GT Capital donated 3,000 AstraZeneca vaccines to the Makati City LGU on September 30, 2021 GT Capital donated 4,000 AstraZeneca vaccines to the General Trias, Cavite LGU on October 1, 2021
Slide 42: Our Key Messages
Our Key Messages • Significant earnings growth of 168% in 9M 2021 • 65% of 2019 core NIAT levels despite four months of lockdown in 9M2021 • Relaxed mobility restrictions led to the strong performance of Metrobank, TMP, Federal Land, and MPIC • Proven capacity to bounce back upon easing of mobility
Slide 43: Thank You!
Thank You! Nine Months 2021 Financial and Operating Results Briefing via Zoom Monday, 15 November 2021 2:30PM For more information, Visit gtcapital.com.ph/investor-relations or contact IR@gtcapital.com.ph