Gt Capital Holdings, Inc. · PSE:GTCAP
Gt Capital — H1 2022 Earnings Presentation
43 slides from Gt Capital's earnings presentation, Aug 16, 2022
Slide 1: First Half 2022 Financial and Operating Results Briefing
First Half 2022 Financial and Operating Results Briefing via Zoom Tuesday, 16 August 2022 2:30PM For more information, Visit gtcapital.com.ph/investor-relations or contact IR@gtcapital.com.ph
Slide 2: First Half 2022 Macroeconomic Overview
First Half 2022 Macroeconomic Overview
Slide 3: Macroeconomic Overview: PHL economy on the road to recovery (GDP)
Macroeconomic Overview PHL economy on the road to recovery GDP GDP Quarterly (%YoY) GDP expected to match 2019 levels 12.0 FY22 Est. New Prev. 7.4% 2Q 2022 5.6 5.5 6.0 6.4 6.9 7.8 8.2 7.4 Bloomberg 6.8% 6.8% Consensus vs. 8.4% consensus MBT Research 6.3% 6.8% 5.6% FY 2021 -0.7 -3.9 6.0% to 6.0% to -
Slide 4: Macroeconomic Overview: Remittances, FDI, GIR
Macroeconomic Overview PHL economy on the road to recovery OFW USD B %YoY OFW remittance expected to maintain growth in FY 2022 Remittances 3.1% 10.3% 4.4% 3.2% 2.3% 3.4% (In USD B) FY22 Est. USD %YoY 8.5 9.1 9.2 8.7 8.4 USD17.1B 8.2 1H 2022, +2.8%YoY BSP 36.3B +4% USD34.9B FY 2021, +5.1%YoY Consens
Slide 5: Macroeconomic Overview: Headwinds amidst the recovery (Inflation)
Macroeconomic Overview Headwinds amidst the recovery Inflation PH Inflation US Inflation CPI expected to remain elevated FY22 Est. New Prev. BSP 5.0% 4.3% 4.7% 8.5% 8.6% 9.1% Bloomberg 7M 2022 Average 8.3% Consensus 4.6% 4.5% 8.5% 7.9% 7.5% MBT Research 5.4% 4.6% Elevated due to: 7.0% 5.0% to 3.5% t
Slide 6: Macroeconomic Overview: USD-PHP and policy rates
Macroeconomic Overview Headwinds amidst the recovery USD-PHP USDPHP Consensus BSP Rate (Bloomberg) Fed Funds Rate BSP Key Policy Rate Consensus Fed Rate (Bloomberg) Consensus USD/PHP (Bloomberg) Bloomberg Rate YE Consensus 5.00 Peak July 12 56 4.75 55.6/USD 56.4/USD -8.1% 4.50 54 March to July 2022
Slide 7: Auto Industry Sales and Consumer Confidence
Macroeconomic Overview Consumer Auto Industry Retail Vehicle Sales (Absolute YoY Change) BSP Consumer Expectations Survey (In %) Confidence 30,000 Consumer Expectation Outlook (Conducted April 25 to 32.4 40 20,000 30 May 5, 2022) Auto Industry Sales 13.1 11.2 20 10,000 No survey in 4.6 10 -5.2% 2Q 2
Slide 8: Consolidated Financial Highlights
Consolidated Financial Highlights
Slide 9: GT Capital Financial Highlights 1H 2022
GT Capital Financial Highlights 1H 2022 Core Php8.1 Billion +39% Consolidated Php8.3 Billion1 +24% Net Income Php5.8 Billion 1H 2021 YoY Net Income Php6.7 Billion 1H 2021 2 YoY Share in Operating Operating Income Revenues Gross Premium Core Income Revenues P55.0 B +7% P5.7B +11% P15.1B -32% P9.8B +1
Slide 10: 1H 2022 Above Pre-COVID Levels
1H 2022 Above Pre-COVID Levels Core Net 2019 (Banner Year) 2020 2021 2022 Income 15.8 1H 2022 12.4 11.0 +9% 7.4 7.4 5.8 8.1 8.1 vs. 1H 2019 3.4 2.8 3.2 3.7 3.4 4.0 +39% vs. 1H 2021 3M 6M 9M FY 3M 6M 9M FY 3M 6M 9M FY 3M 6M Consolidated 2019 (Banner Year) 2020 2021 2022 Net Income 1H 2022 20.3 15.3 +
Slide 11: GT Capital Operating Core Income Contribution
GT Capital Operating Core Income Contribution Figures in Php M, except percentages 10,075 598 6% 8,045 1,230 12% 361 4% 676 7% Others 966 12% Infra 587 7% 1,781 18% Property 1,789 22% Auto 5,790 57% Banking 4,342 54% 1H 2021 1H 2022 Banking + Auto = 76 % Banking + Auto = 75% ©2022 GT Capital Investo
Slide 12: Component Company Highlights
Component Company Highlights
Slide 13: Financial Highlights
Financial Highlights
Slide 14: Summary of Key Messages
Summary of Key Messages • Metrobank’s solid performance in 2Q is evident on all fronts: loan growth exceeding GDP (+9%), increasing CASA (+12%), improving margins (3.43% NIM), healthy fee income (+18%), and stable operating costs (53.8% CIR from 57.2%) • Digital platforms improved productivity and e
Slide 15: Metrobank providing Meaningful Banking
Metrobank providing Meaningful Banking ©2022 GT Capital Investor Relations 15
Slide 16: Industry Highlights
Industry Highlights
Slide 17: Residential Supply and Demand 1H 2022
Residential Supply and Demand 1H 2022 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 2% 42K43K 42K 22% 40,00
Slide 18: Office Supply and Demand 1H 2022
Office Supply and Demand 1H 2022 Metro Manila Office Supply, Demand, Vacancy Rate Office Demand Mix BPO POGO Others Office Supply (Incremental) Office Take-up (Incremental) Vacancy Rate (Cumulative) 15.6% 17.9% 18.0% 3.0% 6.0% 5.3% 4.9% 0.38M 1.2 1.1 1.1 48% sqm 43% 1.0 1H 2022 1.0 0.9 0.9 0.8 9% 0.
Slide 19: Federal Land Financial Highlights
FEDERAL LAND GT Capital Holdings . . ~ . ~ - GT CAPITAL HOLDINGS INCORPORATED
Slide 20: Federal Land Financial Highlights 1H 2022
Federal Land Financial Highlights 1H 2022 Monthly Reservation Sales (Php M) Reservation Sales Mix High End Luxury (over Php12M) 2019 2021 2022 Upscale (Php7-12M) 3,380 Middle Income (Php2.3-7M) Aki 3,067 Lower Middle Income (Php1.4-2.3M) Launch 2,384 2% 11% 2,501 2,495 2,215 8% 1H 1,992 1,871 2022 1
Slide 21: Summary of Key Messages
Summary of Key Messages • Reservation sales grew by +31% to Php8.4B • Strength in Luxury and High-end segments maintained • Sustained POC growth, upfront down payments, and improved collections boosted total revenue to Php5.7B +11% • Net Income improved to Php676M +15% YoY • Expected to launch two a
Slide 22: Financial Highlights
Financial Highlights
Slide 23: Change in asset allocation amidst market volatility
Change in asset allocation amidst market volatility AXA APE PSEi (Monthly Average) AXA Life APE (in Php M) 505 509 Php2.2B 1H 2022 458 Russia-Ukraine War 6,910 -32%YoY 408 389 372 PSEi -10% 413 348 339 6,284 Omicron 323 end-July YTD Surge AL 3 AL 2 Sep '21 Oct '21 Nov '21 Dec '21 Jan '22 Feb '22 Mar
Slide 24: AXA Financial Highlights 1H 2022
AXA Financial Highlights 1H 2022 Life APE Product Mix (In %) Key Messages Life 0% 1% RP-UL • Collapse of equity capital markets resulted in 34% 21% 43% P&H flight to safety of unit-linked policy holders mostly to bank deposits 51% SP-UL 27% • AXA sales team rebuilding for Regular 23% Others Premium
Slide 25: Metro Pacific Investments Financial Highlights
METRO PACIFIC Ms INVESTMENTS Financial p Highlights GT CAPITAL HOLDINGS INCORPORATED
Slide 26: MPIC Financial Highlights 1H 2022
MPIC Financial Highlights 1H 2022 Key Messages • MPIC: 1H 2022 Core Income increased by 24% driven by improved traffic and higher electricity Meralco Metro Pacific Tollways volume sold. Energy Sales PH Average Daily Traffic • Meralco: Increase in Core income was driven by 23,968 GWh +6% 557k +18% a
Slide 27: Financial Highlights
Financial Highlights é GT CAPITAL HOLDINGS INCORPORATED
Slide 28: Key Highlights – 1H 2022
Key Highlights – 1H 2022 Revenues Outpacing the Auto Industry P85.0B +33% Monthly Retail Vehicle Sales (In ‘000 Units) 1H 2022 Retail Vehicle Sales 2022 2021 2019 Net Income 80,090 Units 15.1 P3.4B 14.7 -3%* 14.4 109% 13.7 1H 2022 12.2 9.9 *Excl. TSR Sale in 2021, Net Income +5% +25.6%YoY of 1H 2019
Slide 29: Key Highlights – 1H 2022: Milestones and Model Launches
Key Highlights – 1H 2022 Milestones Six Model Launches 34th Anniversary HEV Celebration Feb Feb March >2 Million Units Sold 20th Anniversary Celebration LITE ACE April June July ©2022 GT Capital Investor Relations
Slide 30: Introducing the All-New LITE ACE
Introducing the All-New LITE ACE All-New Lite Ace Four Body Types • Launched in July 2022 1 2 • Four body types: o (1) Pickup, (2) Panel Van, (3) Utility Van, (4) Aluminum Van • Affordable and reliable light 3 4 commercial vehicle (LCV) to support Filipino businesses • In line with TMP’s thrust of M
Slide 31: Toyota remains dominant: 51.4% market share in 1H 2022
Toyota remains dominant Overall Market Share as of 1H 2022 51.4% in 1H 2022 1H 2022 1H 2021 45.6% No.1 No.1 No.1 Passenger Commercial Overall Car Sales Vehicle Sales Sales 13.6% 7.2% 6.3% 5.7% 5.1% 4.7% 3.4% 1.5% 0.5% 0.3% 0.2% 0.1% Mitsubishi Nissan Nissan Suzuki Ford Isuzu Isuzu Honda Honda Others
Slide 32: Toyota CKD Model Performance 1H 2022
Toyota CKD Model Performance 1H 2022 Toyota CKD Models CKD/CBU Mix 1H 2022 -9% Stable production capacity in Toyota Sta. Rosa CKD CBU CBU CKD YoY Sales Decline Assembly Plant 30% 61% 22,362 48,904 70% Subcompact PC units to assemble units assembled Segment Share 1H 2022 FY2022 Plan 1H 2022 1H 2022 -
Slide 33: TMP and LMI Hybrid Models
TMP and LMI Hybrid Models Hybrid 23% of total 1H22 vs. 14% FY21 IS 300h 58% 1H22 vs. 52% FY21 RAV4 2.5L HEV CVT CAMRY 2.5V HEV RX 450h 97% 1H22 (launched Feb) 100% 1H22 vs. 94% Dec. ’21 21% 1H22 vs. 29% FY21 NX 300h COROLLA ALTIS 1.8 V CVT COROLLA CROSS HV 77% 1H22 4% 1H22 vs. 9% FY21 47% 1H22 vs. 4
Slide 34: TMP's Path to EV Transition
TMP’s Path to EV Transition 95% of Electrified Vehicle Users in the Philippines Corolla Cross Hybrid TMC Global EV Strategy RAV4 2.5L HEV (97% of 1H22 RAV4 Toyota Target Sales) 3.5 Million Global Sales of Battery EVs by 2030 Lexus Target IS 300h 1.0 Million (58% take-up in 1H22) Global Sales of Batt
Slide 35: Automotive Sector Summary of Key Messages
Automotive Sector Summary of Key Messages • TMP delivered strong results in 1H 2022 • Outperformed the auto market twice as fast in 1H 2022 with sales of 80,090 units +25.6% (vs +11.4% industry) and all-time high market share of 51.4% • Launched six models in 2022, including the all-new Lite Ace • E
Slide 36: Moving Forward
Y Strength in ya Adaptability GT CAPITAL HOLOINGS INCORPORATED Moving Forward hg =" |
Slide 37: Federal Land Partnerships with SM Group
Federal Land Partnerships with SM Group June 2016 30 June 2022 Federal Land and SMDC Joint Venture Inauguration of GT Capital/Federal Land and SM District 50-50 Ownership / Feb. 2019 Project Launch Q4 2020 Co-Development of Land w/ SM Group • 100-hectare mixed- use district in Riverpark North Estate
Slide 38: Federal Land NRE Global
Federal Land NRE Global 66% Php32B (property and cash) • Strategic partnership with NRE over next 2 years • Largest real estate developer in Japan in Php16B cash over next 2 years terms of condo unit turnover in 2021 34% • Fifth largest in consolidated sales • NRE’s largest investment outside Japan
Slide 39: Federal Land NRE Global
Federal Land NRE Global Viscoelastic Coupling Dampers that improve Below Floor Drainage System for easier pipe maintenance building resistance to earthquakes and strong winds The Seasons Residences Structural System Glass Façade with Kitchen Floor Storage Shower Toilets Double Glazed Low Emissivity
Slide 40: Steady stream of projects with two JV Partners
Steady stream of projects with two JV Partners CALAX Riverpark North • Area Size: 100 hectares (42 hectares to be developed by SM Group) • Uses: Mall, school, residences, condominiums Lancaster • Launch within Q1 2023 Interchange Riverpark South Daang Hari Ext. • Area Size: 235 Hectares • Uses: Resi
Slide 41: Toyota Mobility Solutions Philippines, Inc.
Toyota Mobility Solutions Philippines, Inc. Accelerating TMP’s Vision of Providing Mobility For All • A suite of technology and data-driven lifestyle and business solutions that can address day-to-day challenges of moving people and goods from one point to another. August 12, 2022 • Introduced an in
Slide 42: Our Key Messages
Our Key Messages • Strong performance in 1H 2022 with core earnings growth of 39%, surpassing 2019 pre-Covid levels • Property to become next high growth engine for GT Capital from pipeline of new projects with two strategic partners, Nomura Real Estate and SM Group • Launch of Toyota Mobility Solut
Slide 43: Thank You!
Thank You! First Half 2022 Financial and Operating Results Briefing via Zoom Tuesday, 16 August 2022 2:30PM For more information, Visit gtcapital.com.ph/investor-relations or contact IR@gtcapital.com.ph