GT Capital Holdings (GTCAP) Q1 2025 earnings summary

Executive summary

• Core net income reached Php8.70 billion in 1Q 2025, up 27% year-over-year, with reported net income at Php9.14 billion, up 29% year-over-year.

• Consolidated net income rose 34% year-over-year to Php12.45 billion for Q1 2025, with core net income up 23%, driven by strong automotive and banking performance.

• Metrobank, Metro Pacific, and Toyota delivered record results, with Metrobank net income at Php12.3 billion (+2%), Metro Pacific core net income at Php6.6 billion (+18%), and Toyota net income at Php6.3 billion (+57%).

• Revenue increased 21% to Php89.78 billion, led by a 23% rise in automotive operations and 16% growth in equity income from associates and joint ventures.

• Core subsidiaries, especially banking and automotive, contributed 82% of net income, reinforcing the group’s strategic direction.

Financial highlights

• Automotive operations revenue reached Php79.36 billion, up 23% year-over-year, with Toyota revenues at Php69.5B (+24%) and Metrobank revenues at Php38.1B (+8%).

• Metrobank’s loan book expanded 16% to Php1.85T, with net interest income up 9% to Php29.4B.

• Federal Land’s reservation sales surged 49% to Php5.9B, driven by projects like The Seasons Residences and Riverpark North.

• Toyota posted record retail vehicle sales of 55,513 units (+11.8% YoY), maintaining a 47.3% market share.

• Earnings per share increased to Php42.04 from Php32.61 year-over-year.

Outlook and guidance

• Management expects more measured growth for the remainder of 2025 following a strong first quarter.

• Management expects continued growth in automotive and banking segments, with ongoing investments in associates and new model launches supporting future performance.

• Metrobank is on track to achieve medium-term targets of 15% ROE and 15% CET1.