ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintTitle ChevronIcon Twitter
Producer Manufacturing

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 segments: Food, Agro-Industrial and Commodities; Air Transportation; Real estate and Hotels; Petrochemicals; Banking; and Other Supplementary Business. The Food, Agro-Industrial & 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 2019 PHPUSD
Revenue288,465.05M5,570.93M
Gross Profit81,847.30M1,580.66M
Operating income40,566.80M783.43M
Income before tax34,680.31M669.75M
Net income31,285.24M604.19M
EBITDA70,830.66M1,367.90M
Diluted EPS4.150.08
Dividends Per Share0.360.00
Total Assets930,619.39M18,375.34M
Total liabilities521,972.24M10,306.49M
Total equity304,811.64M6,018.59M
Operating cash flow60,901.50M1,176.15M
Currency in PHPCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 221,960.08M 232,326.59M 263,536.73M 281,734.17M 288,465.05M
Gross Profit 75,404.28M 81,253.99M 83,860.47M 79,487.73M 81,847.30M
Operating income 42,055.43M 44,109.57M 41,838.21M 35,103.47M 40,566.80M
Income before tax 29,852.82M 19,628.99M 45,020.50M 33,041.29M 34,680.31M
Net income 22,610.01M 10,917.97M 29,369.53M 19,186.04M 31,285.24M
EBITDA 56,495.19M 61,111.34M 60,774.94M 55,670.75M 70,830.66M
Diluted EPS 2.98 1.44 3.90 2.54 4.15
Dividends Per Share 0.23 0.21 0.28 0.31 0.36
Total Assets 600,015.69M 669,599.05M 742,347.23M 821,714.04M 930,619.39M
Total liabilities 312,690.03M 356,815.20M 395,927.68M 454,236.18M 521,972.24M
Total equity 223,390.52M 239,515.52M 267,837.35M 276,585.87M 304,811.64M
Operating cash flow 48,277.66M 63,713.69M 45,415.42M 52,710.55M 60,901.50M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 4,874.71M 4,892.37M 5,227.38M 5,347.74M 5,570.93M
Gross Profit 1,656.03M 1,711.06M 1,663.41M 1,508.79M 1,580.66M
Operating income 923.62M 928.86M 829.88M 666.31M 783.43M
Income before tax 655.63M 413.35M 893.00M 627.17M 669.75M
Net income 496.56M 229.91M 582.55M 364.18M 604.19M
EBITDA 1,240.75M 1,286.89M 1,205.50M 1,056.71M 1,367.90M
Diluted EPS 0.06 0.03 0.07 0.04 0.08
Dividends Per Share 0.00 0.00 0.00 0.00 0.00
Total Assets 12,751.36M 13,469.42M 14,870.73M 15,626.39M 18,375.34M
Total liabilities 6,645.20M 7,177.57M 7,931.24M 8,638.13M 10,306.49M
Total equity 4,747.43M 4,818.01M 5,365.33M 5,259.78M 6,018.59M
Operating cash flow 1,060.27M 1,341.69M 900.83M 1,000.52M 1,176.15M

Valuation Measures

Dec 2019
PER18.50
ROA3.57%
ROE10.76%
Operating margin14.06%
Profit margin10.84%

Key executives

  • President, CEO & Executive Director: Lance Yu Gokongwei
  • Chief Financial Officer, SVP & Compliance Officer: Francisco M. del Mundo
  • Chief Information Officer & VP-Corporate Services: Carlos G. Santos
  • 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 LIZA YU (1.9%)
  • Gosotto & Co., Inc. (1.4%)
  • The Vanguard Group, Inc. (1.3%)
  • GOKONGWEI FAITH ONG (1.3%)
  • GOKONGWEI MARCIA (1.3%)

Contact Details

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

Related Companies

  • URC Australia Finance Co. Pty Ltd.
  • JG Digital Equity Ventures
  • Jg Petrochemical Corp.
  • Jg Summit Holdings Philippines Ltd.
  • Summit Point Services Ltd.
  • Summit Internet Investments, Inc.
  • Cambridge Electronics Corp.
  • JG Summit Olefins Corp.
  • JGSH Philippines Ltd.
  • 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.
  • JG Summit Capital Markets Corp.
  • Cebu Air Inc.
  • JG Summit Petrochemical Corp.
  • JG Summit Ltd.
  • Consolidated Robina Capital Corp.
  • Summit Top Investments Ltd.
  • Litton Mills, Inc.
  • JG Summit (Cayman) Ltd.
  • Telegraph Developments Ltd.
  • JG Summit Philippines Ltd.
  • Robinsons Land Corp.
  • Universal Robina Corp.

Competitors

  • SM Investments Corporation
  • Century Properties Group Inc.
  • Lotte Corp
  • San Miguel Corp.
  • San Miguel Food & Beverage, Inc.
  • Kraft Heinz Company
  • Nestle S.A.
  • PepsiCo, Inc.
  • PT Mayora Indah Tbk
  • Aboitiz Equity Ventures Inc.
  • Del Monte Pacific Limited
  • Mondelez International, Inc. Class A
  • Alliance Global Group Inc.
  • DoubleDragon Properties Corp.
  • Megaworld Corp.
  • SM Prime Holdings, Inc.
  • Ayala Land Inc.
  • Rockwell Land Corp.
  • AirAsia Group Bhd.
  • Filinvest Land Incorporated
  • PAL Holdings, Inc.
  • Vista Land & Lifescapes, Inc.
  • Thai Airways International Public Co. Ltd.
  • Qantas Airways Limited
  • Cathay Pacific Airways Limited
  • Philippine Bank of Communications, Inc.
  • Petron Corp.
  • Singapore Airlines Ltd.
  • Malayan Banking Bhd.
  • Apollo Food Holdings Bhd.
Last Updated on 27 Nov, 2020

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends October 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more