Our portfolio diversity cushioned the impact of COVID-19, driven by the resiliency of our food, banking, and office segments, while heavily impacted businesses began to recover quarter on quarter.
Consolidated Performance
Revenues
₱221.6 billion
Core Net Income
₱450 million
Key Financials excluding Cebu Air, Inc. which operates in one of the most challenged industries globally due to COVID-19
Revenues
₱199.0 billion
Core Net Income
₱15.3 billion
The Company’s robust balance sheet provides enough ballast to weather the pandemic.
Continuous shareholder value maximization as JGS’ share price outperformed the PSEi in 2020
Declared and Distributed
Cash dividends totaling
₱2.7 billion
or ₱0.38 per share
Stock dividends equivalent to
5%
of outstanding shares
COVID-19 Key Initiatives
Cost and Liquidity Management
We implemented austerity measures to focus spending on necessary operating and capital expenditures needed to sustain our current operations.
Reduced Non-essential spend such as training, travel, entertainment expenses to manage our operating costs.
Full Year consolidated General and Administrative Expenses* in 2020 lower by
₱1.37 billion
vs. same period in 2019
*excludes non-cash charges
CAPEX Recalibration
From an original 2020 budget of Php82.8 billion, we have continually trimmed our capital expenditures and ended up spending only Php37.3 billion for the full year of 2020.
COVID-19 Employee Support
5,152
Inquiries addressed via COVID Care Telemedicine Service
Daily Health Monitoring in all units
782
Employees assisted via RT-PCR testing
Up to 120 hours of Advanced Vacation Leave and up to 120 hours of Advanced Sick Leave to cover employees as needed
Daily On-Site Allowance during ECQ: Php250-Php500 Daily Meal Allowance during ECQ: Php75-Php100
Php19.2M
worth of Robinsons Rewards Points funded by GBF for 10,136 affected Third Party employees
Over Php1.5B
Raised as part of Project Ugnayan for affected families during ECQ
346,814
Units of medical supplies donated to over 50 hospitals
100K
Reusable face shields donated in partnership with URC
The Gokongwei Group’s COVID Care platform provided remote medical assistance for COVID-19 concerns for all organic employees and third-party workers. In partnership with ActiveOne Health/Reliance United, the telemedicine service includes patient diagnosis, monitoring, e-prescriptions, and return to work clearance. Last year, the service addressed a total of 5,152 inquiries, aiding our people during the pandemic.
To ease employee work arrangements, we granted assumed attendance as appropriate for the welfare of our people. This amounted to Php536M salaries paid on an assumed attendance basis.
We implemented Daily Health Monitoring via the JG Health App, which is part of our safety protocol for on-site employees. Employees who were working from home also utilized the application to track their health status upon falling ill. The system flagged health concerns, ensuring that employees receive necessary medical support in a timely manner.
Aside from attendance considerations, we also granted advanced vacation leaves and advanced sick leaves to employees who have exhausted their current allocation. The paid leaves covered employees who were unable to work due to ECQ restrictions, which caused the temporary closure of operations for certain business segments.
The Company also ensured accessible RT-PCR testing for its people. The test remains as the gold standard for detecting COVID-19, as recommended by triage professionals. Under this initiative, 352 employees were assisted in 2020 with the support of our partner hospitals: Lung Center of the Philippines, The Medical City, and the T3 Consortium of AC Health facilities.
For employees who had to report on-site, we provided a Daily On-Site Allowance of Php250-500 based on their job level. We also provided a Daily Meal Allowance of Php75-100 on top of the initial allowance amount.
2020 Key Developments
January
Universal Robina
Corporation (URC) launched
exciting new products on the
beverage segment such as C2
Milk tea, made from 100%
natural tea leaves and real
creamy milk, and Great Taste
Barako, a mix of barako
coffee and brown sugar.
Robinsons Bank Corporation
(RBank) successfully
integrated RBank POS
terminals with 100% of
RRHI’s Cash Registers.
Robinsons Land Corporation
(RLC) launched Sapphire
Bloc South and Sierra Valley
Garden 1.
February
RBank won Project of
the Year - Finastra for its
Treasury IT Solutions
Opics.
March
Cebu Air, Inc. (CEB)
started handling
Cargo charters and
Hybrid flights carrying
more than 50kg of
humanitarian shipments
which include PPEs,
Medicine, Test Kits and
Blood Bags.
April
CEB started the Seat
Occupying Cargo flights.
RBank launched RBank
Sign Up, an online account
opening platform.
May
RLC introduced Rdelivery,
Rshopper & Pick-up
Stations that offer safe and
easy ways for customers
to shop at the comfort of
their homes.
RBank launched RBank
QuickR.
June
Gokongwei Brothers Foundation
joined a consortium that was
formed to boost the national
testing capacity.
CEB streamlined inflight food and
merchandise offerings with
cashless transactions.
URC partnered with Lazada to
drive online presence for its
consumers.
Luzon International Premier
Airport Development Corp.
(LIPAD) established One
Stop Shop alongside various
government agencies to ensure a
seamless arrival experience
for passengers.
July
JGS raised US$600 million
from an offshore bond
issuance at 4.125% interest
rate per annum.
RBank launched RBank
Sign Up Payroll Digital
Account Opening.
DHL Summit Solutions,
Inc. (DSSI) started
commercial operations
with URC as its primary
customer.
August
RBank was awarded as the Fastest Growing Commercial Bank - Philippines 2020 in the Global Business Outlook Awards 2020 and the Best Commercial Bank - Philippines 2020 by International Business Magazine.
RBank partnered with Sprout Solutions Inc. for seamless payroll solution.
RLC completed its office building Davao Delta Tower 2.
September
RBank launched RBank
Mo for agency banking
and RBank Digital, a
new mobile banking
application.
October
JGS declared 5% stock dividends
to its shareholders.
CEB introduced the New Normal
Compensation and Benefits
Package for productivity-based
and experience-based
compensation scheme for its
employees.
RBank launched Electronic
Invoice Presentation and
Presentment.
RLC soft launched a new
residential brand called RLC
Residences, a merger of its
previous vertical residential
groupings namely Luxuria,
Residences and Communities.
URC acquired of Roxas
Holdings’s sugar mill and
ethanol plant in La Carlota City,
Negros Occidental.
November
CEB divested its remaining shares in
SIAEP, and acquired the remaining
shares in A+ for better capacity
planning.
CEB’s first ATR Freighter arrived and
reconfigured one of its A330 planes
for cargo.
RBank was awarded as the Fastest
Growing Retail Banking Philippines
by Global Banking and Finance.
RLC closed two deals with logistics
and multinational companies under
RLC’s co-working brand - work.able
which now has a total number of five
centers
URC launched two alcohol brands
- Shield+ and BioSure - to support the
country’s response to the Covid-19
pandemic.
December
CEB’s second ATR Freighter arrived.
CEB started its “Test Before
Boarding” initiative in General
Santos city.
The New Passenger Terminal
Building Shell was handed over to
LIPAD.
JG Summit Petrochemicals Group
(JGSPG) marked the 20th year of
its Abot Kamay Christmas Outreach
program for the elementary schools
in its host communities.
DSSI achieved 92% service
coverage for URC’s Luzon transport
operations.
2020 Key Developments
January
Universal Robina
Corporation (URC) launched
exciting new products on the
beverage segment such as C2
Milk tea, made from 100%
natural tea leaves and real
creamy milk, and Great Taste
Barako, a mix of barako
coffee and brown sugar.
Robinsons Bank Corporation
(RBank) successfully
integrated RBank POS
terminals with 100% of
RRHI’s Cash Registers.
Robinsons Land Corporation
(RLC) launched Sapphire
Bloc South and Sierra Valley
Garden 1.
February
RBank won Project of
the Year - Finastra for its
Treasury IT Solutions
Opics.
March
Cebu Air, Inc. (CEB)
started handling
Cargo charters and
Hybrid flights carrying
more than 50kg of
humanitarian shipments
which include PPEs,
Medicine, Test Kits and
Blood Bags.
April
CEB started the Seat
Occupying Cargo flights.
RBank launched RBank
Sign Up, an online account
opening platform.
May
RLC introduced Rdelivery,
Rshopper & Pick-up
Stations that offer safe and
easy ways for customers
to shop at the comfort of
their homes.
RBank launched RBank
QuickR.
June
Gokongwei Brothers Foundation
joined a consortium that was
formed to boost the national
testing capacity.
CEB streamlined inflight food and
merchandise offerings with
cashless transactions.
URC partnered with Lazada to
drive online presence for its
consumers.
Luzon International Premier
Airport Development Corp.
(LIPAD) established One
Stop Shop alongside various
government agencies to ensure a
seamless arrival experience
for passengers.
July
JGS raised US$600 million
from an offshore bond
issuance at 4.125% interest
rate per annum.
RBank launched RBank
Sign Up Payroll Digital
Account Opening.
DHL Summit Solutions,
Inc. (DSSI) started
commercial operations
with URC as its primary
customer.
August
RBank was awarded as the Fastest Growing Commercial Bank - Philippines 2020 in the Global Business Outlook Awards 2020 and the Best Commercial Bank - Philippines 2020 by International Business Magazine.
RBank partnered with Sprout Solutions Inc. for seamless payroll solution.
RLC completed its office building Davao Delta Tower 2.
September
RBank launched RBank
Mo for agency banking
and RBank Digital, a
new mobile banking
application.
October
JGS declared 5% stock dividends
to its shareholders.
CEB introduced the New Normal
Compensation and Benefits
Package for productivity-based
and experience-based
compensation scheme for its
employees.
RBank launched Electronic
Invoice Presentation and
Presentment.
RLC soft launched a new
residential brand called RLC
Residences, a merger of its
previous vertical residential
groupings namely Luxuria,
Residences and Communities.
URC acquired of Roxas
Holdings’s sugar mill and
ethanol plant in La Carlota City,
Negros Occidental.
November
CEB divested its remaining shares in
SIAEP, and acquired the remaining
shares in A+ for better capacity
planning.
CEB’s first ATR Freighter arrived and
reconfigured one of its A330 planes
for cargo.
RBank was awarded as the Fastest
Growing Retail Banking Philippines
by Global Banking and Finance.
RLC closed two deals with logistics
and multinational companies under
RLC’s co-working brand - work.able
which now has a total number of five
centers
URC launched two alcohol brands
- Shield+ and BioSure - to support the
country’s response to the Covid-19
pandemic.
December
CEB’s second ATR Freighter arrived.
CEB started its “Test Before
Boarding” initiative in General
Santos city.
The New Passenger Terminal
Building Shell was handed over to
LIPAD.
JG Summit Petrochemicals Group
(JGSPG) marked the 20th year of
its Abot Kamay Christmas Outreach
program for the elementary schools
in its host communities.
DSSI achieved 92% service
coverage for URC’s Luzon transport
operations.
