In its January 26 information statement, GT Capital said it plans to deploy at least P9 billion this year for property-related spending, but the figure could grow to P14 billion should potential acquisitions materialize.
TMP plans to spend P8.1 billion to support the rollout of new models apart from specs upgrade and special projects.
Federal Land will spend P5.4 billion to build new estates and leasing (excluding spending on new housing projects), while Metropolitan Bank & Trust Co. will spend P3 to 5 billion for IT upgrades.
The remainder will be allocated to GT Capital Auto and Mobility Holdings, AXA Philippines, Toyota Financial Services, and Sumisho Motor Finance Corp.
GT Capital a ‘strong buy’
The conglomerate, which also owns about 18 percent of Manuel V. Pangilinan-led infrastructure giant Metro Pacific Investments Corp., booked core profit growth of 11 percent to P28.1 billion last year.
AP Securities research head Alfred Benjamin R. Garcia said the financial results were in line with estimates, as they maintain their “Strong Buy” rating with a price target of P885.70 per share.
“GTCAP remains our top big-cap conglo pick, as its businesses operate in key cyclical sectors and it offers significant value add through its exposure to unlisted businesses like Toyota Philippines and Metro Pacific Investments,” Garcia said.
He added that GTCAP is trading at an inexpensive 3.3 times forward price-to-earnings ratio, which is far below the big-cap average of 5.7 times and well under its 10-year norm of 9.9 times.
GT Capital expects to sustain growth in 2025
In their recent earnings statement, GT Capital president Carmelo Maria Luza Bautista expressed optimism over growth prospects this year.
“GT Capital’s core net income grew by 11 percent in 2024, building on the record levels achieved the previous year. This continuous improvement reflects the group’s strong fundamentals across diversified sectors,” he said.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
