JG Summit Holdings, Inc.

Company Background

JG Summit Holdings is the umbrellas company for Filipino-Chinese tycoon John Gokongwei's business ventures. Gonkongwei was the Philippines' fifth-richest man in 2013, according to media outlet Forbes. The conglomerate has interests in food and beverages (Universal Robina), property development (Robinsons Land), aviation (Cebu Air), financial services (Robinsons Bank) and petrochemicals (JG Summit Olefins).

Universal Robina is one of the country's leading snack and beverage manufacturers. It operates production facilities in Malaysia, Indonesia, Thailand, Vietnam, and will soon do so in Myanmar. Robinsons Land is the country's second biggest mall developer; Cebu Pacific is the Philippines' largest budget carrier. At present, the company is headed by Gokongwei's brother, CEO James Go. The tycoon's son, Lance, is the conglomerate's president and chief operating officer. Lance, who runs Cebu Pacific, Universal Robina and Robinsons Land, has a double degree in finance and applied science from the University of Pennsylvania.

JG Summit also has around 27% stake in power distribution company Manila Electric, which it bought from San Miguel last year. It also has an 8% stake in Philippines Long Distance Telephone after the dominant carrier merged with the then Gokongwei-led Digital Telecommunications Philippines via a share-swap agreement.

Business Summary

JG Summit Holdings, Inc. is a holding company, which engages in the manufacture and distribution of agro-industrial products, and the provision of real estate development and management services. It operates through the following business segments: Food, Agro-Industrial, and Commodities, Air Transportation, Real Estate and Hotels, Petrochemicals, Banking, and Other Supplementary Business. The Food, Agro-Industrial, and Commodities segment produces snack, pre-mixed, canned, and frozen foods. The Real Estate and Hotels segment deals with the development and leasing of residential and commercial spaces. The Petrochemicals segment manufactures polyethylene and polypropylene. The Banking segment operates commercial and thrift banks. The Other Supplementary Business segment provides printing services, textile insurance brokering, foreign exchange, and securities dealing. The company was founded by John L. Gokongwei, Jr. on November 23, 1990 and is headquartered in Pasig City, Philippines.

Financial Highlights

Dec 2021	PHP	USD
Revenue	220,867.02M	4,480.55M
Gross Profit	39,265.60M	796.54M
Operating income	2,199.88M	44.62M
Income before tax	-9,869.50M	-200.21M
Net income	-5,700.28M	-115.63M
EBITDA	34,896.49M	707.91M
Diluted EPS	-0.66	-0.01
Dividends Per Share	0.40	0.00
Total Assets	1,026.18B	20,124.18M
Total liabilities	582,551.73M	11,424.26M
Total equity	335,308.89M	6,575.65M
Operating cash flow	7,458.52M	151.30M
	Currency in PHP	Currency in USD

Historical Data

PHP | USD

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021
Revenue	263,536.73M	281,734.17M	288,465.05M	196,666.91M	220,867.02M
Gross Profit	83,860.47M	79,487.73M	81,847.30M	39,299.54M	39,265.60M
Operating income	41,838.21M	35,103.47M	40,566.80M	2,341.59M	2,199.88M
Income before tax	45,020.50M	33,041.29M	34,680.31M	-5,602.32M	-9,869.50M
Net income	29,369.53M	19,186.04M	31,285.24M	-1,588.63M	-5,700.28M
EBITDA	60,774.94M	55,670.75M	70,830.66M	35,806.87M	34,896.49M
Diluted EPS	3.90	2.54	4.15	-0.06	-0.66
Dividends Per Share	0.28	0.31	0.36	0.38	0.40
Total Assets	742,347.23M	821,714.04M	930,619.39M	1,003.04B	1,026.18B
Total liabilities	395,927.68M	454,236.18M	521,972.24M	594,934.48M	582,551.73M
Total equity	267,837.35M	276,585.87M	304,811.64M	308,321.30M	335,308.89M
Operating cash flow	45,415.42M	52,710.55M	60,901.50M	25,404.14M	7,458.52M

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021
Revenue	5,227.38M	5,347.74M	5,570.93M	3,965.01M	4,480.55M
Gross Profit	1,663.41M	1,508.79M	1,580.66M	792.32M	796.54M
Operating income	829.88M	666.31M	783.43M	47.20M	44.62M
Income before tax	893.00M	627.17M	669.75M	-112.94M	-200.21M
Net income	582.55M	364.18M	604.19M	-32.02M	-115.63M
EBITDA	1,205.50M	1,056.71M	1,367.90M	721.90M	707.91M
Diluted EPS	0.07	0.04	0.08	-0.00	-0.01
Dividends Per Share	0.00	0.00	0.00	0.00	0.00
Total Assets	14,870.73M	15,626.39M	18,375.34M	20,886.54M	20,124.18M
Total liabilities	7,931.24M	8,638.13M	10,306.49M	12,388.40M	11,424.26M
Total equity	5,365.33M	5,259.78M	6,018.59M	6,420.21M	6,575.65M
Operating cash flow	900.83M	1,000.52M	1,176.15M	512.17M	151.30M

Valuation Measures

Dec 2021
PER	--
ROA	-0.56%
ROE	-1.77%
Operating margin	0.99%
Profit margin	-2.58%

Key executives

President, CEO & Executive Director: Lance Yu Gokongwei
Chief Financial & Risk Officer: Brian M. Go
Chief Compliance Officer & Vice President: Laurinda R. Rogero
Treasurer & Senior Vice President: Aldrich T. Javellana
Secretary, Senior Vice President & General Counsel: Maria Celia H. Fernandez-Estavillo

Shareholders

Gokongwei Brothers Foundation, Inc. (27.8%)
GOKONGWEI LANCE YU (7.5%)
Ego Investments Holdings Ltd. (3.7%)
GOKONGWEI PE ROBINA Y (2.5%)
GO JAMES L (2.0%)
GOKONGWEI CHENG LISA (1.9%)
The Vanguard Group, Inc. (1.2%)
BlackRock Fund Advisors (0.8%)
Dimensional Fund Advisors LP (0.3%)
BlackRock Advisors (UK) Ltd. (0.2%)

Contact Details

Website:http://www.jgsummit.com.ph
Address: Robinsons Equitable Tower, ADB Avenue Corner P. Poveda Street, Pasig City, 1600, Philippines
Phone: +63.2.633.7631

Related Companies

Hometel Integrated Management Corp.
JG Summit Infrastructure Holdings Corp.
Merbau Corp.
URC Australia Finance Co. Pty Ltd.
JG Petrochemical Corp.
Jg Summit Holdings Philippines Ltd.
Summit Point Services Ltd.
Cambridge Electronics Corp.
JG Summit Olefins Corp.
JG Summit Capital Services Corp.
Robinsons Bank Corp.
Unicon Insurance Brokers Corp.
CP Air Holdings, Inc.
Batangas Agro-Industrial Development Corp.
Summit Forex Brokers Corp.
Multinational Finance Group Ltd.
Robinsons Savings Bank
First Private Power Corp.
Cebu Air Inc.
JG Summit Petrochemical Corp.
JG Summit Ltd.
Consolidated Robina Capital Corp.
Litton Mills, Inc.
JG Digital Equity Ventures, Inc.
JG Summit (Cayman) Ltd.
JG Summit Philippines Ltd.
Robinsons Land Corp.
Universal Robina Corp.

Competitors

SM Investments Corporation
Lotte Corp
Nestle S.A.
San Miguel Corp.
PT Mayora Indah Tbk
Megaworld Corp.
Ayala Land Inc.
PepsiCo, Inc.
DoubleDragon Corporation
Alliance Global Group Inc.
SM Prime Holdings, Inc.
Rockwell Land Corp.
Mondelez International, Inc. Class A
Vista Land & Lifescapes, Inc.
Century Properties Group Inc.
Aboitiz Equity Ventures Inc.
Ayalaland Logistics Holdings Corp.
Filinvest Land Incorporated
Monde Nissin Corp.
Capital A Berhad
PAL Holdings, Inc.
Thai Airways International Public Co. Ltd.
Qantas Airways Limited
Cathay Pacific Airways Limited
Philippine Bank of Communications, Inc.
Singapore Airlines Ltd.
Petron Corp.
Malayan Banking Bhd.
DMCI Holdings Inc.
Procter & Gamble Company

Last Updated on 24 Mar, 2023