Slide 1: Analysts' Briefing FY2024 Financial Results
Click to edit Master title style ANALYSTS’ BRIEFING FY2024 Financial Results February 28, 2025 3/25/2025 1
Slide 2: Consolidated Income Statement Highlights
Consolidated Income Statement Highlights (In Php Billions) 2024 2023 Inc/ (Dec) % Change REVENUES Banking 75.07 66.55 8.52 12.8% Distilled Spirits 33.77 29.88 3.89 13.0% Beverage 17.19 16.41 0.78 4.8% Property Development 2.93 2.45 0.48 19.6% Tobacco - - - Total Revenues 128.96 115.29 13.67 11.9% Co
Slide 3: Net Income by Segment
Net Income by Segment (In Php Millions, except EPS) Net Income LTG's Share in Net Income Y-o-Y Change Segment 2024 2023 2024 % to total Inc/(Dec) % 2023 % to total Tobacco 12,767 11,379 12,716 44% 1,383 12% 11,333 45% Banking 21,178 19,022 11,887 41% 1,140 11% 10,747 42% Distilled Spirits 2,150 1,56
Slide 4: Consolidated Balance Sheet Highlights
Consolidated Balance Sheet Highlights (In Php Billions) As of: Dec '24 Dec '23 Inc/(Dec) % Change Cash 223.6 243.8 (20.2) (8.3%) Total Assets 1,374.3 1,327.4 46.9 3.5% Total Liabilities 1,044.1 1,027.2 17.0 1.7% Total Equity 330.2 300.2 30.0 10.0% D-E Ratio 3.16 3.42 (0.26) D-E Ratio (w/o bank) 0.10
Slide 5: Income Statement (Tobacco)
Income Statement (In Php Millions) 2024 2023 Inc/(Dec) % Segment Revenue - - - Cost of Sales - - - Gross Profit - - - Equity in Net Earnings fr PMFTC 7,567 11,066 (3,499) (32%) 7,567 11,066 (3,499) (32%) Operating Expenses 189 282 (93) (33%) Operating Income 7,378 10,784 (3,406) (32%) Dividend incom
Slide 6: Income Statement (Banking)
Income Statement (In Php Millions) 2024 2023 Inc/(Dec) % As of As of Balance Sheet Net Interest Income (In Php Billions) Dec '24 Dec '23 Interest Income 67,459 59,595 7,864 13% COH & Due from Banks 222 243 Interest Expense 18,118 15,002 3,116 21% FA at FVTOCI (AFS) 212 165 49,341 44,593 4,748 11% Lo
Slide 7: Income Statement (Distilled Spirits)
Income Statement (In Php Millions) 2024 2023 Inc/(Dec) % Sales Volume (liquor, cs) 23.786 23.353 0.433 2% Sales Volume (bio, ltr) 40.986 40.671 0.315 1% Segment Revenue 33,851 29,952 3,899 13% Cost of Sales 28,918 26,026 2,892 11% Gross Profit 4,933 3,926 1,007 26% Gross Profit Margin 15% 13% +2%pts
Slide 8: Income Statement (Beverage)
Income Statement (In Php Millions) 2024 2023 Inc/(Dec) % Segment Revenue 18,214 17,381 833 5% Cost of Sales 14,135 13,459 676 5% Gross Profit 4,079 3,922 157 4% Gross Profit Margin 22% 23% -1%pt Operating Expenses 2,854 2,812 42 1% Operating Income 1,225 1,110 115 10% Equity in net income 60 42 18 4
Slide 9: Income Statement (Property Development)
Income Statement (In Php Millions) 2024 2023 Inc/(Dec) % Segment Revenue Residential 501 118 383 325% Leasing 2,027 2,054 (27) (1%) Cost of Sales Residential 434 56 378 675% Leasing 1,206 1,106 100 9% Gross Profit Residential 67 62 5 8% Leasing 821 948 (127) (13%) Gross Profit Margin Eton City Squar