Financial
Highlights (2012)
LT Group’s consolidated net income
attributable to equity holders of the company grew by 29.1% from P5.8 billion
in 2011 to P7.5 billion in 2012 mainly a result of the 22.1% in operating
income.
The distilled spirits segment grew its
revenues by 4.2% as an effect of the increased sales volume of its products.
The beverage group also reflected an improvement in its sales by 1.6%, with
energy drinks and bottled water as top performers in the product mix. Although
both the aforementioned segments improved, the sales of the property
development and tobacco segments declined, causing LTG’s consolidated revenues
to do down by 6.5%. The property segment’s construction of projects slowed down
as a result of design changes and delays in securing necessary permits.
LTG’s current ratio improved slightly
from 1.4:1 in 2011 to 1.5:1 while the debt-to-equity ratio likewise improved to
0.85:1.00 from 0.87:1.00. Earnings per share increased to P0.85 per share from
P0.68 per share.
Company
Profile
LT Group Inc manufactures a variety of wine related
products. The Company produces rum, alcohol, sugar, glass bottles, and other
raw materials. LT Group serves customers throughout the world.
The company (formerly Tanduay Holdings, Inc.) was
originally incorporated in 1937 as the Manila Wine Merchants, Inc. to engage in
trading business. On September 22, 1995, the SEC approved the change in
Company’s name to “Asian Pacific Equity Corporation” and the change in its
primary purpose to that of a holding company. On July 30, 1999, the company
acquired Twin Ace Holdings Corp, now known as Tanduay Distillers, Inc., a
producer of distilled spirits. On November 10, 1999, the SEC approved the
change in the corporate name from “Asian Pacific Equity Corporation” to
“Tanduay Holdings, Inc.” On September 24, 2012, the Board approved the change
in its name from Tanduay Holdings to “LT Group, Inc.”
At the end of 2012, LT Group completed the
acquisition of majority stakes in Asia Brewery, Fortune Tobacco and Eton
Properties. The folding in of Philippine National Bank was completed in 2013.
The company has the following businesses:
·
Asia
Brewery, Inc. (ABI) is a flagship in the Philippine beverage industry owing
to its extensive distribution network and broad portfolio of alcoholic and
non-alcoholic products. Founded in 1982, ABI produced its first batch of beers
from its plant in Cabuyao, Laguna. Over the years, ABI launched products that
have become a part of every Filipino home. It began in 1988 when it launched
its most successful brand called Beer
Pale Pilsen (now known as Beer na
Beer).
In 1992, the company began to diversify its product portfolio from
beer to non-alcoholic beverages with Absolute
Pure Distilled Drinking Water and Summit
Natural Drinking Water collectively leading the diverse bottled water
market with 30% share. ABI continued with its aggressive expansion and it
brought Colt 45 Malt Liquor to the
market. In 2006, the company launched Cobra
Energy Drink with the latter owning 70% share in the energy drinks market.
In 2009, ABI once again surprised the beverage industry with the creation of Tanduay Ice Alcomix. The product became
an instant hit among the youth as it invaded both on and off the premise
outlets.
 |
| Eton Centris in Quezon City |
·
Eton
Properties Philippines, Inc. has made a strong presence in the local property
development scene in just 5 years. With some 47 projects encompassing
residential, township, commercial and office development, it has further
expanded by creating two brands, Belton Communities and First Homes. Eton City is the Company’s flagship,
multi-billion peso project occupying some 1,000 hectares of prime lands in
south Manila. It is home to South Lake Village, the country’s first residential
island lot development and other unique residential communities. Eton Centris, will be gateway to the
emerging 250-hectare Triangle Park Central Business District in Quezon City.
·
PMFTC, Inc. merged two
market leaders in the tobacco industry, Philip Morris Philippines Manufacturing
Inc. and Fortune Tobacco Corporation. The merger effectively made it the
leading tobacco company in the country with 90% total market share. It now owns
43 of the 76 existing cigarette brands in the market. It contributes
significantly to the LT Group’s operating income.
·
Tanduay
Distillers, Inc. is the oldest among the subsidiaries and carries
with it the distinction of being one of the biggest brands in the distilled
spirits category with a 99% share in the rum category.
 |
| Philippine National Bank |
·
Philippine
National Bank/Allied Bank. On July 27, 2012, LTG’s Board approved the
acquisition of 34.79% of PNB and 27.62% of Allied Bank through the purchase of
100% of the outstanding capital stock of 11 and two holding companies of PNB and Allied Bank,
respectively, all controlled by the Controlling Shareholders. On January 22,
2013, PNB’s Board approved to set the effective date of merger between PNB and
Allied Bank on February 9, 2013.
Board of Directors
·
Lucio C. Tan – Chairman
· Harry Tan – Vice Chairman
·
Michael G. Tan – President
·
Antonino L. Alindogan, Jr.
·
Juanita T. Tan Lee
·
Peter P. Ong
·
Wilfredo E. Sanchez
·
Carmen K. Tan
·
Lucio K. Tan, Jr.
·
Florencia G. Tarriela
·
Wilson T. Young
Technical Stock Graph (Source: Bloomberg)
On
June 9, 2009, LTG’s share of stock was value at P2.27. As of this posting, its
value is P18.30. It increased by 706%. If you invested P10,000 on June 9, 2009,
it’s now worth P80,611.00.
Price: 18.3/share (as of May 2, 2014)
Market Cap: 198,031 million (as of May 2, 2014)
Address: 11th Floor Unit 3 Bench Tower
30th
Street cor Rizal Drive
Bonifacio Global
City
Taguig City
Website: www.tanduay.com
Source:
LT
Group, Inc. Annual Report 2012
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