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Finance

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 PHPUSD
Revenue94,427.93M1,903.76M
Gross Profit47,841.93M964.54M
Operating income3,199.59M64.50M
Income before tax3,971.70M80.07M
Net income20,983.83M423.05M
EBITDA8,834.35M178.11M
Diluted EPS1.940.03
Dividends Per Share0.150.00
Total Assets1,353.12B28,176.25M
Total liabilities1,097.58B22,855.14M
Total equity185,413.93M3,860.90M
Operating cash flow107,869.65M2,174.76M
Currency in PHPCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 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 2016Dec 2017Dec 2018Dec 2019Dec 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
PER6.74
ROA1.60%
ROE11.27%
Operating margin3.38%
Profit margin22.22%

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
Last Updated on 22 Oct, 2021

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