Consumer Non-Durables
LT Group, Inc.
In the news
- Lucio Tan tightens control over Philippine Airlines amid succession talks Jul 17, 2019
- All-star Philippine conglomerates contest to upgrade 'worst' airport Mar 9, 2018
- Singapore eyes 30% stake in Manila airport expansion Feb 22, 2018
- Philippine consortium proposes $6.75bn bid to transform Manila's airport Feb 13, 2018
- Duterte thinks big on Philippine infrastructure Jan 25, 2018 See more articles on LT Group, Inc.
Company Background
LT Group was formed through the consolidation of businesses controlled by Lucio Tan, the Philippines' second-richest man in 2013, according to Forbes magazine. The listed conglomerate was previously known as Tanduay Holdings, which held Tan's spirits business. In 2012, shareholders approved the company's transformation from a liquor maker into a holding company called LT Group.
In addition to its liquor business, operated by its Tanduay subsidiary, LT is also active in tobacco, through its Fortune Tobacco unit, financial services, through Philippine National Bank, and real estate development, through Eton Properties Philippines. Tan, through companies he own, also has majority ownership in flag carrier Philippine Airlines and in-flight service provider MacroAsia Corp., but these companies are not yet included in LT Group.
Tan holds a chemical engineering from Far Eastern University in Manila. Known for his philanthropy, Tan has also been involved in legal disputes with the government, particularly over tax issues. LT Group is managed by Tan's son, Michael, who serves as president of the conglomerate. The younger Tan previously ran Asia Brewery.
Business Summary
LT Group, Inc. engages in diversified business activities, including distilled spirits, beverages, tobacco, property development and banking. It operates through five segments: Banking, Distilled Spirits, Beverage, Tobacco, and Property Development. The Banking segment provides full range of banking and other financial services to corporate, middle market and retail customers. The Distilled Spirits segment involves in manufacturing, compounding, bottling, importing, buying and selling of rum, brandy, whiskey, gin, and other liquor products. The Beverage segment engages in brewing and soft drinks and bottled water manufacturing in the Philippines. The Tobacco segment supplies and manufactures of cigarettes, casings, tobacco, packaging, labels and filters. The Property Development segment engages in ownership, development, leasing and management of residential properties. The company was founded on May 27, 1937 and is headquartered in Taguig, Philippines.
Financial Highlights
| Dec 2018 | PHP | USD |
| Revenue | 75,559.42M | 1,434.23M |
| Gross Profit | 36,673.32M | 696.11M |
| Operating income | 8,425.03M | 159.91M |
| Income before tax | 25,548.03M | 484.94M |
| Net income | 15,974.80M | 303.22M |
| EBITDA | 12,628.16M | 239.70M |
| Diluted EPS | 1.49 | 0.02 |
| Dividends Per Share | 0.15 | 0.00 |
| Total Assets | 1,097.77B | 20,876.23M |
| Total liabilities | 866,586.42M | 16,479.72M |
| Total equity | 172,966.69M | 3,289.27M |
| Operating cash flow | 40,776.10M | 773.99M |
| Currency in PHP | Currency in USD |
Historical Data
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | |
| Revenue | 52,125.47M | 51,473.18M | 57,800.00M | 63,727.07M | 75,559.42M |
| Gross Profit | 25,062.35M | 27,606.08M | 29,627.40M | 31,586.31M | 36,673.32M |
| Operating income | 2,449.15M | 6,081.23M | 3,855.61M | 7,194.96M | 8,425.03M |
| Income before tax | 8,312.51M | 12,217.53M | 12,935.65M | 18,000.06M | 25,548.03M |
| Net income | 4,410.23M | 6,312.69M | 9,342.67M | 10,830.77M | 15,974.80M |
| EBITDA | 6,004.15M | 9,073.18M | 7,117.57M | 10,910.52M | 12,628.16M |
| Diluted EPS | 0.41 | 0.61 | 0.82 | 1.00 | 1.49 |
| Dividends Per Share | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 |
| Total Assets | 702,363.92M | 755,136.79M | 834,466.97M | 917,095.68M | 1,097.77B |
| Total liabilities | 539,641.72M | 585,378.70M | 655,862.39M | 721,780.27M | 866,586.42M |
| Total equity | 124,227.89M | 128,876.01M | 136,097.98M | 148,314.50M | 172,966.69M |
| Operating cash flow | -25,010.84M | 3,672.20M | 33,837.97M | 5,711.62M | 40,776.10M |
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | |
| Revenue | 1,174.29M | 1,130.45M | 1,217.16M | 1,264.05M | 1,434.23M |
| Gross Profit | 564.61M | 606.28M | 623.89M | 626.53M | 696.11M |
| Operating income | 55.17M | 133.55M | 81.19M | 142.71M | 159.91M |
| Income before tax | 187.26M | 268.32M | 272.40M | 357.04M | 484.94M |
| Net income | 99.35M | 138.63M | 196.73M | 214.83M | 303.22M |
| EBITDA | 135.26M | 199.26M | 149.88M | 216.41M | 239.70M |
| Diluted EPS | 0.00 | 0.01 | 0.01 | 0.01 | 0.02 |
| Dividends Per Share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Assets | 15,701.42M | 16,047.96M | 16,785.85M | 18,371.30M | 20,876.23M |
| Total liabilities | 12,063.75M | 12,440.30M | 13,193.10M | 14,458.73M | 16,479.72M |
| Total equity | 2,777.12M | 2,738.83M | 2,737.70M | 2,971.04M | 3,289.27M |
| Operating cash flow | -563.45M | 80.64M | 712.56M | 113.29M | 773.99M |
Valuation Measures
| Dec 2018 | |
| PER | 11.08 |
| ROA | 1.58% |
| ROE | 9.94% |
| Operating margin | 11.15% |
| Profit margin | 21.14% |
Key executives
- Chairman & Chief Executive Officer: Lucio Chua Tan
- President, COO & Executive Director: Michael Gonzales Tan
- Chief Financial & Risk Officer: Jose Gabriel D. Olives
- Secretary & Compliance Officer: Maria Cecilia L. Pesayco
- Deputy Chief Financial Officer: Nestor C. Mendones
Shareholders
- Tangent Holdings Corp. (74.3%)
- Dragon Castle Holdings Ltd. (1.8%)
- FIL Investment Management (Singapore) Ltd. (1.4%)
- Hinner Resources Ltd. (1.4%)
- Advance Goal Ltd. (1.4%)
- Absolute Classic Ltd. (0.8%)
- Eastspring Investments (Singapore) Ltd. (0.8%)
- The Vanguard Group, Inc. (0.8%)
- Conqueror Vision Ltd. (0.7%)
- FIL Investment Management (Hong Kong) Ltd. (0.4%)
Contact Details
- Website:http://www.ltg.com.ph
- Address: Bench Tower, 30th St. Corner Rizal Drive, Taguig, 1634, Philippines
- Phone: +63.2.808.1266
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Competitors
- San Miguel Corp.
- Ginebra San Miguel, Inc.
- Emperador Inc.
- Megaworld Corp.
- Ayala Land Inc.
- Robinsons Land Corp.
- PepsiCo, Inc.
- Filinvest Land Incorporated
- Diageo plc
- British American Tobacco p.l.c.
- Vitasoy International Holdings Limited
- Japan Tobacco Inc.
- PT Kalbe Farma Tbk
- Coca-Cola Company
- Taisho Pharmaceutical Holdings Co., Ltd.
- Lam Soon (Thailand) Public Co. Ltd.
- JG Summit Holdings Inc.
- Top Frontier Investment Holdings, Inc.
- Alliance Global Group Inc.
- San Miguel Food & Beverage, Inc.
- SM Investments Corporation
- BDO Leasing & Finance, Inc.
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Last Updated on 19 Sep, 2019