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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 & 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 2020 PHPUSD
Revenue214,023.82M4,314.95M
Gross Profit45,638.43M920.12M
Operating income4,492.30M90.56M
Income before tax-4,354.96M-87.80M
Net income-468.15M-9.43M
EBITDA39,165.34M789.61M
Diluted EPS-0.06-0.00
Dividends Per Share0.380.00
Total Assets1,003.04B20,886.54M
Total liabilities594,934.48M12,388.40M
Total equity308,321.30M6,420.21M
Operating cash flow27,363.28M551.67M
Currency in PHPCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 232,326.59M 263,536.73M 281,734.17M 288,465.05M 214,023.82M
Gross Profit 81,253.99M 83,860.47M 79,487.73M 81,847.30M 45,638.43M
Operating income 44,109.57M 41,838.21M 35,103.47M 40,566.80M 4,492.30M
Income before tax 19,628.99M 45,020.50M 33,041.29M 34,680.31M -4,354.96M
Net income 10,917.97M 29,369.53M 19,186.04M 31,285.24M -468.15M
EBITDA 61,111.34M 60,774.94M 55,670.75M 70,830.66M 39,165.34M
Diluted EPS 1.44 3.90 2.54 4.15 -0.06
Dividends Per Share 0.21 0.28 0.31 0.36 0.38
Total Assets 669,599.05M 742,347.23M 821,714.04M 930,619.39M 1,003.04B
Total liabilities 356,815.20M 395,927.68M 454,236.18M 521,972.24M 594,934.48M
Total equity 239,515.52M 267,837.35M 276,585.87M 304,811.64M 308,321.30M
Operating cash flow 63,713.69M 45,415.42M 52,710.55M 60,901.50M 27,363.28M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 4,892.37M 5,227.38M 5,347.74M 5,570.93M 4,314.95M
Gross Profit 1,711.06M 1,663.41M 1,508.79M 1,580.66M 920.12M
Operating income 928.86M 829.88M 666.31M 783.43M 90.56M
Income before tax 413.35M 893.00M 627.17M 669.75M -87.80M
Net income 229.91M 582.55M 364.18M 604.19M -9.43M
EBITDA 1,286.89M 1,205.50M 1,056.71M 1,367.90M 789.61M
Diluted EPS 0.03 0.07 0.04 0.08 -0.00
Dividends Per Share 0.00 0.00 0.00 0.00 0.00
Total Assets 13,469.42M 14,870.73M 15,626.39M 18,375.34M 20,886.54M
Total liabilities 7,177.57M 7,931.24M 8,638.13M 10,306.49M 12,388.40M
Total equity 4,818.01M 5,365.33M 5,259.78M 6,018.59M 6,420.21M
Operating cash flow 1,341.69M 900.83M 1,000.52M 1,176.15M 551.67M

Valuation Measures

Dec 2020
PER--
ROA-0.04%
ROE-0.15%
Operating margin2.09%
Profit margin-0.21%

Key executives

  • President, CEO & Executive Director: Lance Yu. Gokongwei
  • Chief Financial & Risk Officer: Brian Go
  • Chief Information Officer & VP-Corporate Services: Carlos G. Santos
  • Chief Compliance Officer, VP & Controller: Michele F. Abellanosa
  • Treasurer & Senior Vice President: Aldrich T. Javellana

Shareholders

  • Gokongwei Brothers Foundation, Inc. (27.8%)
  • GOKONGWEI LANCE Y (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. (1.2%)
  • GOKONGWEI MARCIA (0.8%)
  • BlackRock Fund Advisors (0.7%)

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

  • Merbau Corp.
  • URC Australia Finance Co. Pty Ltd.
  • 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 Digital Equity Ventures, Inc.
  • JG Summit (Cayman) Ltd.
  • Telegraph Developments Ltd.
  • JG Summit Philippines Ltd.
  • Robinsons Land Corp.

Competitors

  • SM Investments Corporation
  • Nestle S.A.
  • Lotte Corp
  • PT Mayora Indah Tbk
  • PepsiCo, Inc.
  • San Miguel Corp.
  • Megaworld Corp.
  • Alliance Global Group Inc.
  • Rockwell Land Corp.
  • Century Properties Group Inc.
  • Aboitiz Equity Ventures Inc.
  • Vista Land & Lifescapes, Inc.
  • Monde Nissin Corp.
  • Mondelez International, Inc. Class A
  • PAL Holdings, Inc.
  • Thai Airways International Public Co. Ltd.
  • Qantas Airways Limited
  • Cathay Pacific Airways Limited
  • Philippine Bank of Communications, Inc.
  • Singapore Airlines Ltd.
  • AirAsia Group Bhd.
  • Malayan Banking Bhd.
  • DoubleDragon Corporation
  • Ayala Land Inc.
  • SM Prime Holdings, Inc.
  • Petron Corp.
  • DMCI Holdings Inc.
  • Filinvest Land Incorporated
  • Procter & Gamble Company
  • PT Chandra Asri Petrochemical Tbk
Last Updated on 26 Nov, 2021

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