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Manila Bulletin devider Business devider The Stock Market devider LT Group posts second-best first-half earnings since 2013

LT Group posts second-best first-half earnings since 2013

Published Aug 12, 2025 07:23 pm
Taipan Lucio Tan’s holding company LT Group, Inc. posted a 17 percent growth in attributable net income to ₱14.97 billion in the first half of 2025, its second-best first-half result since its follow-on public offering in 2013.
Based on the firm’s disclosure to the Philippine Stock Exchange, its earnings rose on the back of higher profits generated by its banking, tobacco, hard liquor, and real estate subsidiaries.
Philippine National Bank (PNB) contributed ₱7.03 billion or 47 percent, while Fortune Tobacco Corp., representing the tobacco business, contributed ₱5.44 billion or 36 percent of the total.
Tanduay Distillers Inc. and Asia Brewery Inc. added ₱1.35 billion and ₱489 million, respectively, or nine percent and four percent each. Eton Properties Philippines Inc. and Victorias Milling Co. accounted for ₱351 million, which is approximately two percent, and ₱276 million, also about two percent, respectively.
In addition to its March 2025 dividends of ₱3.25 billion, LTG declared a special dividend of ₱0.30 per share in June 2025. This brought the total cash dividends to ₱6.49 billion or a payout rate of 22.4 percent for the current period.
PNB reported a net income of ₱12.52 billion in the first half of 2025, 22 percent higher than the ₱10.29 billion in the same period last year. This is the bank’s best first-half year performance to date (excluding one-off ROPA gains).
FTC reported a net income of ₱5.46 billion in the first half of 2025 which was 12 percent higher than the ₱4.89 billion recorded in the same period last year primarily due to higher equity in net earnings from Philip Morris Fortune Tobacco Corporation which amounted to ₱4.87 billion, a 10 percent increase compared to last year’s ₱4.43 billion.
PMFTC's cigarette shipments outpaced industry growth in the first half. While total industry volume rose 4.0 percent to 23.9 billion sticks, PMFTC's shipment volume increased by 4.9 percent to 11.1 billion sticks.
This stronger performance, coupled with November 2024 price increases, contributed to higher earnings. PMFTC’s market share was 46.4 percent for the period.
Tanduay achieved its strongest first-half performance to date, with a net income of ₱1.36 billion for the first half of 2025, a significant increase of 91percent compared with the ₱712 million recorded in the same period last year.
This was driven by higher net revenues of ₱15.25 billion, four percent higher than the ₱14.63 billion reported in the first half of 2024, primarily attributed to higher selling prices within the liquor segment.
TDI's nationwide distilled spirits market share grew to 38.0 percent in the first half of 2025 from 33.0 percent last year, maintaining dominant positions of 68.3 percent and 81.0 percent in the Visayas and Mindanao regions, respectively.
Asia Brewery’s net income was slightly lower at ₱491 million from ₱509 million in the same period last year. Revenues of the beverage segment were at ₱8.84 billion in the current period, six percent lower than the first half of 2024, as sales volume decreased for Cobra Energy Drinks and Vitamilk.
Cobra energy drink market share was 46 percent while Absolute and Summit bottled water brands collectively held 15 percent, securing third place among local water brands.
Eton reported a net income of ₱352 million for the six months of 2025, higher than the ₱327 million for the same period last year.
Leasing revenues were lower by nine percent, reaching ₱916 million (81 percent of total revenue) compared to ₱1.01 billion in 2024.
Real estate sales were at ₱212 million for the period ended June 30, 2025 as the company continued to sell the remaining inventory of previously launched projects in 68 Roces in Quezon City and in Eton City, Laguna.
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