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Manila Bulletin devider Business devider The Stock Market devider LT Group injects ₱3.5 billion to fuel Eton Properties growth

LT Group injects ₱3.5 billion to fuel Eton Properties growth

Published May 9, 2025 01:47 pm

Taipan Lucio Tan’s LT Group Inc. is infusing a total of ₱3.5 billion into subsidiary Eton Properties Philippines, Inc. (EPPI) and its residential unit Eton City Inc. (ECI) to fund their growth initiatives.

In a disclosure to the Philippine Stock Exchange, LTG said its management has finalized the details of the capital infusion amounting to up to ₱2.5 billion to Eton Properties and ₱1 billion to Eton City, which specializes in residential developments.

“While the Board of Directors of LT Group, Inc. approved the capital infusion during its meeting on January 14, 2025, in support of business growth of EPPI and ECI, and to strengthen its capital position, the Management has only today concluded and confirmed the specific terms of the said capital infusion,” LTG said.

With the capital infusion, LTG will gain more Eton Properties shares and have a direct ownership percentage in Eton City.

In 2025, the company has earmarked ₱900 million for capital expenditures to support property enhancement programs and township redevelopment.

These include upgrades in master planning, zoning strategies, and amenities designed to improve long-term asset value and customer experience.

“We’re staying focused on what matters: building better spaces, improving the way people live and work, and responding to what our markets need. We’re not just building structures—we’re building the future of Eton with clarity and purpose,” Eton Properties President and CEO Kyle C. Tan said.

Eton Properties said it is positioning itself for long-term profitability following key investment decisions made in 2024—moves that are expected to strengthen Eton Properties’ market position in the years ahead.

Eton reported total revenues of ₱3.1 billion in 2024, reflecting a 12 percent increase from the previous year’s ₱2.8 billion. This performance comes amid broader industry challenges, including the exit of Philippine Offshore Gaming Operators (POGOs) and the non-renewal of some retail tenancies.

“Two thousand and twenty-four showed our ability to stay steady in a shifting market. We stayed focused on delivering long-term value, adapting where needed, and investing where it mattered most,” said Tan.

The firm reported a 71 percent drop in net income to ₱213 million last year from ₱746 million in 2023, mainly due to a one-time ₱503 million inventory revaluation gain recorded the previous year.

The company noted that core operations remained strong. While net income declined, earnings before interest, taxes, depreciation, and amortization (EBITDA) margin decreased to 41 percent from 66 percent, reflecting the company’s strategic reinvestment into property improvements, new development plans, and sustainability-related initiatives.

Related Tags

Eton Properties Philippines Inc. Eton City Inc. LT Group Inc. Kyle C. Tan
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