Finance
LT Group, Inc.
In the news
- Manila's $2bn airport expansion pitch stalled by aviation shakeup Jul 8, 2020
- Coronavirus hammers Asian airlines as passenger numbers plummet Mar 5, 2020
- Roughed-up by Duterte, two Philippine companies shed $1bn in value Dec 12, 2019
- Son of Philippine billionaire, Lucio Tan Jr. dies at 53 Nov 11, 2019
- Lucio Tan tightens control over Philippine Airlines amid succession talks Jul 17, 2019 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 2020 | PHP | USD |
| Revenue | 94,427.93M | 1,903.76M |
| Gross Profit | 47,841.93M | 964.54M |
| Operating income | 3,199.59M | 64.50M |
| Income before tax | 3,971.70M | 80.07M |
| Net income | 20,983.83M | 423.05M |
| EBITDA | 8,834.35M | 178.11M |
| Diluted EPS | 1.94 | 0.03 |
| Dividends Per Share | 0.15 | 0.00 |
| Total Assets | 1,353.12B | 28,176.25M |
| Total liabilities | 1,097.58B | 22,855.14M |
| Total equity | 185,413.93M | 3,860.90M |
| Operating cash flow | 107,869.65M | 2,174.76M |
| Currency in PHP | Currency in USD |
Historical Data
| Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | |
| Revenue | 57,800.00M | 63,727.07M | 75,629.89M | 94,150.85M | 94,427.93M |
| Gross Profit | 29,627.40M | 31,586.31M | 36,731.45M | 44,003.49M | 47,841.93M |
| Operating income | 3,855.61M | 7,194.96M | 6,987.93M | 12,925.14M | 3,199.59M |
| Income before tax | 12,935.65M | 18,000.06M | 17,384.73M | 16,329.54M | 3,971.70M |
| Net income | 9,342.67M | 10,830.77M | 16,194.77M | 23,060.15M | 20,983.83M |
| EBITDA | 7,117.57M | 10,910.52M | 11,203.41M | 18,160.96M | 8,834.35M |
| Diluted EPS | 0.82 | 1.00 | 1.49 | 2.13 | 1.94 |
| Dividends Per Share | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 |
| Total Assets | 834,466.97M | 917,095.68M | 1,097.77B | 1,265.83B | 1,353.12B |
| Total liabilities | 655,862.39M | 721,780.27M | 866,586.42M | 1,011.82B | 1,097.58B |
| Total equity | 136,097.98M | 148,314.50M | 172,966.69M | 186,921.54M | 185,413.93M |
| Operating cash flow | 33,837.97M | 5,711.62M | 41,253.86M | 56,038.20M | 107,869.65M |
| Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | |
| Revenue | 1,217.16M | 1,264.05M | 1,435.57M | 1,818.27M | 1,903.76M |
| Gross Profit | 623.89M | 626.53M | 697.21M | 849.81M | 964.54M |
| Operating income | 81.19M | 142.71M | 132.64M | 249.61M | 64.50M |
| Income before tax | 272.40M | 357.04M | 329.98M | 315.36M | 80.07M |
| Net income | 196.73M | 214.83M | 307.40M | 445.34M | 423.05M |
| EBITDA | 149.88M | 216.41M | 212.65M | 350.73M | 178.11M |
| Diluted EPS | 0.01 | 0.01 | 0.02 | 0.04 | 0.03 |
| Dividends Per Share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Assets | 16,785.85M | 18,371.30M | 20,876.23M | 24,994.18M | 28,176.25M |
| Total liabilities | 13,193.10M | 14,458.73M | 16,479.72M | 19,978.73M | 22,855.14M |
| Total equity | 2,737.70M | 2,971.04M | 3,289.27M | 3,690.81M | 3,860.90M |
| Operating cash flow | 712.56M | 113.29M | 783.06M | 1,082.22M | 2,174.76M |
Valuation Measures
| Dec 2020 | |
| PER | 6.74 |
| ROA | 1.60% |
| ROE | 11.27% |
| Operating margin | 3.38% |
| Profit margin | 22.22% |
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
- Secretary & Compliance Officer: Marivic T. Moya
Shareholders
- Tangent Holdings Corp. (74.3%)
- Eastspring Investments (Singapore) Ltd. (1.5%)
- Fidelity Investments Canada ULC (0.7%)
- The Vanguard Group, Inc. (0.6%)
- BlackRock Investment Management (UK) Ltd. (0.5%)
- FIL Investment Management (Singapore) Ltd. (0.3%)
- Dimensional Fund Advisors LP (0.2%)
- Fidelity Management & Research Co. LLC (0.1%)
- Artemis Investment Management LLP (0.0%)
- Mackenzie Investments Corp. (United States) (0.0%)
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.
- Ayala Land Inc.
- Megaworld Corp.
- Robinsons Land Corp.
- Japan Tobacco Inc.
- PepsiCo, Inc.
- Filinvest Land Incorporated
- Diageo plc
- Coca-Cola Company
- Lam Soon (Thailand) Public Co. Ltd.
- Vitasoy International Holdings Limited
- PT Kalbe Farma Tbk
- Taisho Pharmaceutical Holdings Co., Ltd.
- Top Frontier Investment Holdings, Inc.
- DoubleDragon Properties Corp.
- San Miguel Food & Beverage, Inc.
- Filinvest Development Corporation
- Universal Robina Corp.
- SM Investments Corporation
- BDO Leasing and Finance Inc
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Last Updated on 22 Oct, 2021
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