Gt Capital Holdings, Inc. · PSE:GTCAP
Gt Capital — 9M 2023 Earnings Presentation
47 slides from Gt Capital's earnings presentation, Nov 14, 2023
Slide 1: Nine Months 2023 Financial and Operating Results Briefing
Nine Months 2023 Financial and Operating Results Briefing via Zoom Tuesday, 14 November 2023 2:30PM For more information, Visit gtcapital.com.ph/investor-relations or contact IR@gtcapital.com.ph
Slide 2: Macroeconomic Indicators
Nine Months 2023 Macroeconomic Indicators
Slide 3: Macroeconomic Indicators: GDP
Macroeconomic Indicators GDP GDP Quarterly (%YoY) 2023 growth estimates tempered FY2023 Est. Current Prev. 12.0 5.9% 3Q 2023 5.6 5.5 6.0 6.4 7.8 8.2 7.5 7.6 7.1 6.4 5.9 Bloomberg 5.0% 5.6% 4.3 Consensus vs. 4.7% Bloomberg Consensus 3Q2023 Pre-Pandemic Years 6.9 MBT Research 5.5% 6% to 7% 7.6% FY 202
Slide 4: Macroeconomic Indicators
Macroeconomic Indicators OFW USD B %YoY BPO Remittances 3.1% 10.3% 4.4% 3.2% 2.3% 3.4% 3.1% 3.6% 3.0% 3.4% 2.6% Sector 7% 2% 10% 10% (In USD B) Revenue 32.5 29.5 USD14.5B 8.5 8.2 9.1 9.2 8.7 8.4 9.4 9.6 8.9 8.7 26.3 26.7 6.42 USD As of Aug 2023, +3.4%YoY 32.5B USD36.14B +10%YoY FY 2022, +3.6%YoY 1Q2
Slide 5: Macroeconomic Indicators: BSP Policy Rate and USDPHP
Macroeconomic Indicators BSP Policy Rate USDPHP Fed Funds Rate BSP Rate +100bps 7.00 Peak Oct 13, 2022 BSP Off-Cycle Rate Hike +25 bps 6.50 60 01-Jan to 13-Nov 2023 6.25 Oct. 27, 2023 PHP 59.00/USD 6.50% 6.00 58 5.50 5.50 5.25 5.00 PHP/USD -1% 5.00 56 4.50 01-Jan to 13-Nov 2023 4.25 PHP 55.91/USD 4.
Slide 6: Macroeconomic Indicators: Inflation
Macroeconomic Indicators Inflation PH Inflation US Inflation Inflation expected to ease Institution FY23 Est. 6.4% 9.1% 8.7% BSP 5.8% 8.5% 8.6% 8.5% Oct YTD 2023 Average 8.3% 8.3%8.2% 8.6% Bloomberg Consensus 5.9% 7.9% 8.1% 7.7% Peaked in 7.5% 7.6% Easing of inflation due to 7.7% 8.0% MBT Research 6
Slide 7: Consolidated Financial Highlights
Consolidated Financial Highlights
Slide 8: GT Capital Financial Highlights 9M 2023
GT Capital Financial Highlights 9M 2023 Core Php23.25 Billion +105% Php11.33 Billion Net Income 9M 2023 YoY 9M 2022 Consolidated Php23.09 Billion1 +54% Php14.95 Billion 2 Net Income 9M 2023 YoY 9M 2022 1. Includes P33M pro-rata share in MPIC’s nonrecurring expenses 2. Includes net gain on property e
Slide 9: Record High Nine Month Earnings in 2023
Record High Nine Month Earnings in 2023 Core Net 2019 2020 2021 2022 2023 Income 9M 2023 23.3 15.8 15.9 16.6 12.0 11.0 11.3 +105% 3.5 7.1 2.8 3.2 3.7 7.4 3.4 5.8 8.1 4.0 8.1 6.6 vs. 9M 2022 3M 6M 9M FY 3M 6M 9M FY 3M 6M 9M FY 3M 6M 9M FY 3M 6M 9M Consolidated 2019 2020 2021 2022 2023 Net Income 9M 2
Slide 10: GT Capital Financial Highlights 9M 2023
GT Capital Financial Highlights 9M 2023 Revenues Revenues Gross Premium Share in Operating Core Income Revenues P100.2B +22% P13.2B +6% P19.5B -13% P20.0B +31% P162.8B +22% Net Income Net Income Net Income Core Net Income Net Income P31.8B* +36% P1.9B* +176% P2.1B +17% P16.2B +37% P10.9B* +159% • Gr
Slide 11: GT Capital 9M 2023 Net Income Contribution per Sector
GT Capital 9M 2023 Net Income Contribution per Sector Others Property Others Property 7% 5% 5% 8% Infra Auto Infra 13% 12% 16% Auto 25% Banking Banking 59% 50% 9M 2022 9M 2023 Banking + Auto = 75% Banking + Auto = 75% ©2023 GT Capital Investor Relations 14
Slide 12: Operating Company Highlights
Operating Company Highlights
Slide 13: Financial Highlights
Financial Highlights
Slide 14: Metrobank Financial Highlights 9M 2023
Metrobank Financial Highlights 9M 2023 MBT Gross Loan Growth vs. PH GDP Growth Loan Growth Drivers: MBT Gross Loans (%YoY) PH GDP (%YoY) • Consumer +16% 12% 14% 12% outpacing commercial 12% 8% 8% 9% 8% 7% 6% 9% 7% +5% 7% 5% 8% 4% 6% 6% -4% • Corp. & Mid-Mkt +6% -1% -3% -4% -1% • Credit Card +29% -10
Slide 15: Summary of Key Results
Summary of Key Results • Record Nine Months Earnings of Php31.8B +36% in 9M 2023 due to: • Loan growth of +7% to Php1.5T (77% NII of Operating Income) • Expansion of consumer segment +16%, driven by credit cards +29% and auto +22% • Non-Interest Income +14%, Trading/FX gains +45% • NIM expansion to
Slide 16: Industry Highlights
Industry Highlights
Slide 17: Residential Supply and Demand 9M2023
Residential Supply and Demand 9M2023 Metro Manila Residential Condominium Supply and Demand Residential Demand Mix High End Luxury (over Php12M) Launches (Supply) Pre-sales (Demand) Upscale (Php7-12M) 60,000 Middle Income (Php2.3-7M) 54K Lower Middle (Php1.4-2.3M) 53K 50,000 Pre-selling levels excee
Slide 18: Office Supply and Demand 9M2023
Office Supply and Demand 9M2023 Metro Manila Office Supply, Demand, Vacancy Rate Office Demand Mix Office Supply (Incremental) Office Take-up (Incremental) Vacancy Rate (Cumulative) BPO POGO Traditional 15.6% 17.9% 19.0% 3.0% 6.0% 5.3% 4.9% 1.2 1.1 1.1 1.0 42% 809k 0.98 sqm 45% 1.0 0.9 0.9 0.91 9M20
Slide 19: Financial Highlights: Federal Land
(\FEDERAL LAND Capital Holdings hs ‘ > > > a > > GT CAPITAL HOLDINGS INCORPORATED
Slide 20: Federal Land Financial Highlights 9M 2023
Federal Land Financial Highlights 9M 2023 Monthly Reservation Sales (Php M) Reservation Sales Mix High End Luxury (over Php12M) 6 launches in 2019 2023 2022 2019 (4 in 4Q19) Upscale (Php7-12M) TGMO2 Launch Quantum3 3,820 Middle / Low Mid Income (Php<7M) Launch Siena 2 (Mar 2023) Launch (Apr 2023) 3,
Slide 21: Grand Hyatt Manila Residences
Grand Hyatt Manila Residences 99% sold 100% sold as of August 2023 ©2023 GT Capital Investor Relations 24
Slide 22: The Seasons Residences
AWARDED Best Condo Development The Seasons Residences in the Philippines 99% sold Tower 1: Haru Tower 2: Natsu 93% sold 94% sold Tower 3: Aki Tower 4: Fuyu 60% sold as of September 2023 ©2023 GT Capital Investor Relations 25
Slide 23: Summary of Key Messages
Summary of Key Messages • Nine-months record NIAT of Php1.9B +176% in 9M 2023 • Reservation sales grew by +31% to Php17.9B mainly from The Seasons Residences, Grand Hyatt Residences 2, and The Estate Makati • Real estate sales grew by +67% to Php13.8B, including Php3.9B* land sale (+20% excluding la
Slide 24: Financial Highlights
Financial Highlights
Slide 25: AXA Financial Highlights 9M 2023
AXA Financial Highlights 9M 2023 Life APE Product Mix (In %) Key Messages UL 74% UL 65% Life 1% 1% 22% RP-UL 16% • APE down -13% to Php2.8B dragged by unit- 48% P&H linked products 50% 27% SP-UL 35% • P&H accounting for 35% of product mix up from Others 27% the previous year 9M 2022: Php3.2B 9M 2023
Slide 26: Financial Highlights: Metro Pacific Investments
METRO PACIFIC es INVESTMENTS Financial Highlights | GT CAPITAL HOLDINGS INCORPORATED
Slide 27: MPIC Financial Highlights 9M 2023
MPIC Financial Highlights 9M 2023 Key Messages • MPIC: Core Income increased by +37% to Php16.2 billion driven by large contributions Meralco Metro Pacific Tollways from power and water Energy Sales Average Daily Traffic • Meralco: +53% increase in Core Income 38,164 GWh +4% 1.2M +34% arising from h
Slide 28: MPTC New Segment Openings
MPTC New Segment Openings NLEX Connector from España Boulevard Silang Interchange of CALAX to Magsaysay Boulevard November 2023 October 2023 ©2023 GT Capital Investor Relations 31
Slide 29: Financial Highlights: Toyota
Financial Highlights a, GT CAPITAL HOLDINGS INCORPORATED
Slide 30: Key Highlights – 9M 2023
Key Highlights – 9M 2023 Revenues TMP and Industry Exceeding 2019 Pre-Covid Unit Sales Levels P162.8B +22% Industry Monthly Retail Vehicle Sales (In ‘000 Units) 9M 2023 Retail Vehicle Sales 2023 2022 2021 2019 Net Income 36.0 26.6 28.8 36.0 35.4 37.8 306,285 Units 28.9 30.3 29.3 P10.9B +159% in 9M 2
Slide 31: Toyota Retail Sales Highlights 9M 2023
Toyota Retail Sales Highlights 9M 2023 TMP Top Selling Passenger Cars (Ranked by units) Segment 96% Share 56% 53% 56% 9M 2023 Vios Wigo Corolla Altis Camry Toyota Market Share 2019 2020 2021 2022 9M23 9M 2023 Unit Sales 28,418 9,662 797 546 No.1 Overall Sales 40% 41% 46% 50% 47% TMP Top Selling Comm
Slide 32: Sales Growth Supplemented by TFSPH
Sales Growth Supplemented by TFSPH 9M2023 TFS Quarterly Applications and Penetration Applications +9% Loan Book +11% Penetration 30% 56,382 59,372 56,732 57,385 57,382 56,825 52,958 51,790 54,771 53,068 49,067 49,298 49,251 45,786 43,976 41,909 40,499 38,144 32,164 48% 50% 47% 43% 44% 41% 38% 34% 33
Slide 33: Toyota CKD Model Performance 9M 2023
Toyota CKD Model Performance 9M 2023 Toyota CKD Models CKD/CBU Mix 9M 2023 +18% CKD CBU CBU Higher production CKD in Toyota Sta. Rosa YoY Sales Growth Assembly Plant 29% 56% 41,616 56,123 71% Subcompact PC units to assemble units assembled Segment Share 9M 2023 FY2023 Plan 9M 2023 9M 2023 +15.9% +12
Slide 34: Toyota New Model Launches 2023
Toyota New Model Launches 2023 ZENIX JUNE WIGO JULY YARIS CROSS AUGUST (HEV and Gas) (HEV and Gas) Alphard August Hilux GR-S September Source: TMP (HEV) ©2023 GT Capital Investor Relations 38
Slide 35: Lexus New Model Launches 2023
Lexus New Model Launches 2023 RX January (HEV and Gas) LM September (HEV) RZ May (BEV) Source: Lexus ©2023 GT Capital Investor Relations 39
Slide 36: Toyota and Lexus Widest electrified vehicle lineup in the country
Toyota and Lexus Widest electrified vehicle lineup in the country ALPHARD YARIS CROSS LM RX ZENIX RAV4 NX UX RZ 450e First BEV CAMRY COROLLA ALTIS COROLLA CROSS ES IS LS Sources: TMP, Lexus ©2023 GT Capital Investor Relations 40
Slide 37: Toyota and Lexus Electrified Sales
Toyota and Lexus Electrified Sales Toyota HEV Sales as % of Total Sales Combined Lexus HEV Sales as % of Total Sales Toyota + Lexus 66% 1.05% 2.06% 9M2023: 35% 0.05% 0.29% 0.54% 2.7% 14% 8% 17% (9M2022:1.2%) Toyota HEV Unit Sales Lexus HEV Unit Sales +113% +461% +158% 2,944 904 +224% +140% 1,829 +23
Slide 38: Lexus maintains Market Leadership in the Auto Luxury segment
Lexus maintains Market Leadership in the Auto Luxury segment Overall Market Share (Luxury) as of 9M 2023 40.6% in 9M 2023 9M 2023 9M 2022 36.6% 25.0% 26.7% 24.0% 20.0% 9.1% 9.2% 3.6% 5.2% BMW Mercedes-Benz Land Rover Others Source: Lexus ©2023 GT Capital Investor Relations 42
Slide 39: Toyota expands Dealership Network
Toyota expands Dealership Network In September 2023, Toyota opened its 74th Dealership in Ormoc City, Leyte Source: TMP ©2023 GT Capital Investor Relations 43
Slide 40: Summary of Key Messages
Summary of Key Messages • Strong net earnings of Php10.9B +159% in 9M 2023 • Total sales of 144,232 units +16% and on track to exceed record 2017 sales level of 183,908 units • Retained its market leadership with 47.1% share • Supported by increased auto loans from TFS and other banks • Profit margi
Slide 41: Moving Forward
GROWTH Forward ing Mov
Slide 42: Re-Introducing the Tamaraw (IMV-0)
Re-Introducing the Tamaraw (IMV-0) “Innovative International Multi-Purpose Vehicle” • Third CKD model (Tamaraw) for assembly at the Toyota Sta. Rosa Plant • Launch by 2H 2024 • TMP invested Php4.4 Billion • Affordable and functional vehicle • Customizable to suit the needs of various customers • Des
Slide 43: Riverpark: Next Gen City of the South
Riverpark: Next Gen City of the South • A multi-use and self- Riverpark North sufficient community within a 600-hectare township located in General Trias, Cavite • Riverpark’s launch will Commercial mark Federal Land Mixed-use Residential Lots Communities’ first Riverpark South major development in
Slide 44: Yume at Riverpark (General Trias, Cavite)
Yume at Riverpark (General Trias, Cavite) A Japanese-inspired haven for starting families • First residential horizontal project of Federal Land NRE Global, Inc. • Located in Riverpark, General Trias, Cavite, a 600-hectare township development • 18-hectares of 296 residential lots and house and lots
Slide 45: The Observatory (Mandaluyong City)
The Observatory (Mandaluyong City) • 4.5 hectare site strategically located in Mandaluyong City, the center of three major central business districts: Makati, BGC and Ortigas • Mixed-use community in an area surrounded by stand-alone residential and office buildings • Provides an unobstructed view o
Slide 46: Our Key Messages
Our Key Messages • The Group continued its record-setting pace for the first nine months, with core net income +105% across Metrobank, Federal Land, and Toyota • Realizing the value of our investments in the property sector with the launch of new projects under Federal Land NRE Global, Inc. (FNG) •
Slide 47: Thank You!
Thank You! Nine Months 2023 Financial and Operating Results Briefing via Zoom Tuesday, 14 November 2023 2:30PM For more information, Visit gtcapital.com.ph/investor-relations or contact IR@gtcapital.com.ph