Transforming Trials into Triumphs

The journey to success is never without turbulence. However, fueled by the remarkable commitment of its business units, JG Summit was able to capitalize on the strengths of each company to turn setbacks into opportunities.

Universal Robina Corporation strengthened its international branded foodsand pet food businesses and generated cost efficiencies in its domesticbranded foods business to counter the impact of tempered consumerspending and high sugar inventory costs.

Despite ongoing supply chain challenges within the industry, Cebu Pacific successfully met rising travel demand, solidifying its leadership position in the domestic market and advancing its international recovery. The airline also signed a historic Memorandum of Understanding (MoU) with Airbus to purchase up to 152 aircraft over the next decade and acquired boutique airline AirSwift.

Robinsons Land Corporation posted significant growth in its malls, hotels, and logistics divisions, which countered concerns in the office and residential segments. It also opened new properties such as Opus, Nustar Hotel, and the Sierra 2 Warehouse.

In the face of persistent challenges in the global petrochemical market, JG Summit Olefins Corporation completed Project Sarimanok. This initiative identified key opportunities to optimize costs and operations by enhancing efficiencies and strengthening organizational capabilities.

The merger of BPI and RBank marked a significant milestone, culminating in the receipt of its inaugural dividends from BPI—heralding a new era of growth and value creation.

Paving the Road to Prosperity

JG Summit’s ecosystem plays have demonstrated progress in accelerating growth and moving towards achieving sustainable profitability.

GoTyme exceeded 5 million customers while demonstrating strategic foresight through its acquisition of the Philippines’ largest fintech salary lender, SAVii, cementing its position as a leader in the Philippine digital banking landscape.

DHL Summit Solutions, Inc. achieved remarkable growth by expanding its customer base beyond the Gokongwei Group, including a major multinational corporation. This is a testament to its exceptional service delivery and consistent improvement in key performance indicators.

LIPAD Corporation surpassed EBITDA breakeven, resumed various flights, inauguratedthe Sunlight Air Clark Hub, and partnered with UPS and FedEx.

JG Digital Equity Ventures, Inc. invested in innovative startups such as Bot MD, which empowers healthcare with AI.

The member base of Data Analytics Ventures, Inc. grew to over 10.5 million. The company also launched a personalized in-app promo recommendation system.

Onward to Clearer Skies
and a Brighter Tomorrow

Navigating through the headwinds of the past year, JG Summit demonstrated unwavering resilience to arrive at significant milestones—laying the foundation for a brighter future. From international expansion to portfolio growth and operational efficiencies, it has consistently moved onward and forward.

The release of the International Financial Reporting Standards (IFRS) S1/S2 has also guided the group to identify sustainability and climate risks and opportunities, aiding its understanding of reporting guidelines and enhancing its ability to adapt and comply with the new standards.

Through a steadfast commitment to sustainability and a proactive approach to the evolving business landscape, JG Summit is gearing up to face the shifting tides of geopolitics and cultural change—future-proofing its business units and positioning itself for continued growth.

Together, JG Summit and its subsidiaries will continue to innovate and drive progress, elevating the group to greater heights and contributing to a better future for all.

Conquering Currents,
Charting Horizons

2024 Annual & Sustainability Report

About the Cover

Despite its numerous challenges in 2024, JG Summit Holdings, Inc. renews its commitment to reaching new heights, constantly discovering innovative ways to overcome obstacles, and forging a brighter future for all.

As it pushes through the crosswinds, including tempered consumer sentiment, industry-wide airline concerns, an oversupply of office and residential spaces, and a prolonged petrochemical downturn, the group remains resilient and steadfast in its mission to provide customers with better choices and shared success for all.

Transforming Trials into Triumphs
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Paving the Road to Prosperity
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Onward to Clearer Skies and a Brighter Tomorrow
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About the Report

Reporting Scope and Boundary

This report provides comprehensive information on the financial and non-financial highlights of JG Summit Holdings, Inc., including its Economic, Environmental, Social, and Governance (EESG) performance. It covers the period from January 1 to December 31, 2024, and includes data from its four strategic business units—Universal Robina Corporation, Cebu Air, Inc., Robinsons Land Corporation, and JG Summit Olefins Corporation—as well as its ecosystem plays and core investment companies. Data in this report are consolidated where applicable and available. Disclosures in the Environment and Social sections cover only the four strategic business units.

Reporting Standards and Framework

This report has been prepared with reference to the Global Reporting Initiative (GRI) Standards, the Philippine Securities and Exchange Commission’s (SEC) Sustainability Reporting Guidelines for Publicly Listed Companies, and the IFRS Sustainability Disclosure Standards—specifically, IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures.

In 2022, the Company aligned its climate-related reporting with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Beginning 2023, we have commenced our transition toward full adoption of IFRS S1 and S2.

JG Summit Holdings, Inc., has also aligned its initiatives with the United Nations Sustainable Development Goals (UN SDGs).

Disclaimer on Forward-Looking Statements

This report contains forward-looking statements that are based on the goals, projections, and plans of JG Summit Holdings, Inc. These statements are not guarantees of future performance and should not be regarded as predictions of actual events or outcomes.

Actual results may differ materially from those expressed or implied in these statements due to various risks and uncertainties beyond the Company’s control. These statements are made as of the date of publication, and the Company assumes no obligation to update or revise them to reflect future events or developments.

Message to Shareholders

James L. Go

Chairman

Chairman’s Message

Coming into a new year, we have begun addressing the challenges we experienced in 2024 and expect the strategies we have set in place to gain traction as the year progresses. At the parent company, we remain focused on supporting our core business units to drive topline and profit growth.

The lessons we have learned from 2024 have strengthened our resolve to sail forward with confidence, meeting each challenge and embracing the opportunities on the horizon.

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Lance Y. Gokongwei

Director, President and Chief Executive Officer

President and CEO’s Report

After the close of another year, we continue to uphold our purpose, resolute in our commitment to provide our customers with better choices and creating shared success with our stakeholders. We continue to adapt and refine our strategy to better align our course.

We also acknowledge the continued patronage of our customers, as well as the invaluable contributions and support from our employees, business partners, and shareholders, which allow us to carry on as we navigate tides, conquer currents, and chart a path towards brighter horizons for all our stakeholders.

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At a Glance

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FY Revenue

in PHP billion

Cash Dividends

PHP per common share

Current Ratio

Core Net Income

FY 2024
+30% vs SPLY
19.4B
2023
25.1B
2024

Total Assets

in PHP billion

Conquering Currents, Charting Horizons

2024 Annual & Sustainability Report

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