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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, 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 PHPUSD
Revenue220,867.02M4,480.55M
Gross Profit39,265.60M796.54M
Operating income2,199.88M44.62M
Income before tax-9,869.50M-200.21M
Net income-5,700.28M-115.63M
EBITDA34,896.49M707.91M
Diluted EPS-0.66-0.01
Dividends Per Share0.400.00
Total Assets1,026.18B20,124.18M
Total liabilities582,551.73M11,424.26M
Total equity335,308.89M6,575.65M
Operating cash flow7,458.52M151.30M
Currency in PHPCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 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 2017Dec 2018Dec 2019Dec 2020Dec 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 margin0.99%
Profit margin-2.58%

Key executives

  • President, CEO & Executive Director: Lance Yu Gokongwei
  • Chief Financial & Risk Officer: Brian M. Go
  • Chief Compliance Officer: 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 (0.7%)
  • 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 Road, 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
  • PT Mayora Indah Tbk
  • Megaworld Corp.
  • San Miguel Corp.
  • DoubleDragon Corporation
  • Alliance Global Group Inc.
  • SM Prime Holdings, Inc.
  • Rockwell Land Corp.
  • Vista Land & Lifescapes, Inc.
  • Mondelez International, Inc. Class A
  • Century Properties Group Inc.
  • Aboitiz Equity Ventures Inc.
  • Ayalaland Logistics Holdings Corp.
  • Ayala Land Inc.
  • 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.
  • PT Chandra Asri Petrochemical Tbk
Last Updated on 9 Aug, 2022

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