JG Summit Holdings, Inc. (JGS), one of the largest conglomerates in the Philippines, reported that its core net income in 2025 fell 11 percent in 2025 to PHP36.4 billion, primarily due to the absence of the PHP7.9 billion one-off gain recognized in 2024 on its bank merger transaction.
Excluding these one-off gains, JG Summit closed the year with recurring net profits of PHP31.9 billion, a flat 3 percent growth compared to its 2024 performance.
In a disclosure to the Philippine Stock Exchange, the Gokongwei-owned conglomerate said that the performance in 2025 was primarily supported by growing demand for travel and leisure alongside strong consumption.
The conglomerate’s consolidated revenues from ongoing businesses hit PHP368.6 billion, up 9 percent versus 2004 performance. This performance was fueled by the double-digit growth in its airline and real estate subsidiaries plus a steady volume-driven topline improvement in its food and beverage arm.
Meanwhile, JGS reported FY25 net loss of PHP87.9 billion, which reflects the results of its discontinued petrochemical operations. This includes the PHP114.3 billion impairment loss booked by JG Summit Olefins Corporation (JGSOC) after receiving Board approval to write down its assets in the fourth quarter of 2025.
Despite recording such impairment loss, JG Summit’s financial position continues to be healthy, underscoring its resilience and ability to support growth.
As of December 2025, consolidated cash and financial debt levels remained stable, with a debt-to-equity ratio of 0.73 and a net debt-toequity ratio of 0.59. Dividends received at the parent level reached a record high totaling Php21.6 billion, 25% higher year-on-year, driven by higher contributions across nearly all subsidiaries and core investments, including the dividends in arrears on the preferred shares of its airline.
JG Summit’s President and CEO, Lance Y. Gokongwei, acknowledges the conglomerate’s results saying, “Our 2025 performance reflects the resilience of our portfolio, supported by sustained consumer demand and continued strength in our leisure-related businesses. During the year, we also recognized an impairment loss on our discontinued petrochemical operations. We have also started discussions with potential buyers of the mothballed asset and are determining the best use of the Batangas complex.”
For 2026, Gokongwei said they are taking a prudent and disciplined approach—prioritizing cash flow protection, balance sheet strength, and operational efficiency in light of heightened uncertainties with the ongoing war in Iran.
At the same time, he said, they will remain focused on long-term value creation as we continue to advance its parent transformation, with its business units refining their value creation plans under clear governance and investment guardrails informed by our portfolio review.
