GT Capital posts record Q1 on strong core units

MANILA, Philippines — Strong performance of its core operating companies boosted earnings of conglomerate GT Capital Holdings Inc. in the first quarter.

GT Capital reported a core net income of P8.70 billion in the first quarter, marking a year-on-year growth of 27 percent, excluding non-recurring gains from lot sales.

The holding company’s consolidated net income, on the other hand, jumped by 29 percent year-on-year to P9.14 billion.

“We are pleased to report a strong first quarter, marked by exceptional financial and operational performance by our core subsidiaries. This positive momentum is driven by the continued strength of our automotive and financial services businesses, which remain to be our key engines for growth,” GT Capital president Carmelo Maria Luza Bautista said.

“Notably, our first quarter results have surpassed the already record-setting performance during the same period in 2024, reinforcing our confidence in GT Capital’s strategic direction and growth outlook for the rest of 2025,” he said.

Bautista said the group is well-positioned to sustain the upward trajectory with inflationary pressures easing, consumer spending exhibiting continued traction and a stable foreign exchange outlook.

From January to March, the group’s banking arm Metrobank delivered net earnings of P12.3 billion on the back of robust loan growth, strong fee and trading income as well as moderating cost increase.

Metrobank president Fabian Dee said the bank’s first quarter performance keeps the company on track in achieving its medium-term growth strategies even as global uncertainties continue to persist. 

“Our strong capitalization and healthy portfolio give us and our clients the assurance on our ability to navigate the changing economic landscape,” Dee said.

Toyota Motor Philippines Corp. (TMP), meanwhile, reported a strong 57.1-percent increase in net income to P6.33 billion during the first quarter.

The growth was attributed to the 11.8 percent rise in the automotive company’s retail sales volume, which reached 55,513 units for the three-month period.

TMP president Masando Hashimoto said the company expects demand for its vehicles to remain stable for the remainder of the year due to favorable macroeconomic conditions and heightened consumer spending.

“TMP started 2025 with a solid performance driven by the enduring trust of Filipinos in the automotive company’s core attributes of quality, durability and reliability and also by the broad popularity of its diverse model lineup,” Hashimoto said.

GT Capital’s wholly owned property subsidiary Federal Land Inc. saw a 49-percent increase in reservation sales to P5.9 billion following the strong demand of commercial lots and horizontal developments during the quarter.

Associate Metro Pacific Investments Corp. (MPIC) likewise continued to deliver strong double-figure growth, with core net income increasing to P6.6 billion from last year’s P5.6 billion.

MPIC’s improved financial and operational performance was fueled primarily by the strong growth in power generation of Meralco, higher tariffs of Maynilad and growing patient volumes in Metro Pacific Hospitals.

Net income of AXA Philippines Life and General Insurance Corp., meanwhile, stood at P650 million during the quarter, with gross premium expanding by 17 percent year-on-year to P8.5 billion.

For 2025, GT Capital said that AXA Philippines remains committed to protecting the lives of Filipinos through life insurance, protecting their resources with general insurance as well as helping their assets grow with investments and estate planning solutions.