お知らせ • Jul 03
The Philippine Stock Exchange Oks 2GO's Voluntary Delisting The Philippine Stock Exchange, on June 29, 2023, approved the voluntary delisting of logistics and transportation firm 2GO Group Inc. effective July 17. The firm's board of directors and stockholders approved the decision to quit the PSE's main board in February. 2GO said at the time that its share price no longer reflected its intrinsic value. お知らせ • May 19
2GO Group Set to Voluntarily Delist from Philippine Stock Exchange Starting July 17 2GO Group, Inc. has filed a petition to finally delist from the main board of the Philippine Stock Exchange (PSE) effective on July 17. In a regulatory filing on May 18, 2023, 2GO said the voluntary delisting was proposed by and is fully supported by its two major shareholders, SM Investments Corp. (SMIC) and Trident Investments Holdings Pte. Ltd. The move is the final step in the company’s bid to go private, which started on Feb. 28, when the board of directors of SMIC approved the holding of a voluntary tender offer for up to 378,817,279 common shares or 15.39% of the issued and outstanding common stock of 2GO. The shares were priced based on a fairness valuation report prepared by BPI Capital Corp. The tender offer was conducted by SMIC with a view to the voluntary delisting of 2GO’s common shares from the main board of the stock exchange. During 2GO’s annual stockholders’ meeting on April 18, shareholders owning 2,409,564,081 common shares or 97.86% of the outstanding common stock of the company voted in favor of the voluntary delisting with no shareholder voting against the move. Reported Earnings • May 13
First quarter 2023 earnings released: EPS: ₱0.076 (vs ₱0.014 loss in 1Q 2022) First quarter 2023 results: EPS: ₱0.076 (up from ₱0.014 loss in 1Q 2022). Revenue: ₱5.16b (up 29% from 1Q 2022). Net income: ₱186.8m (up ₱221.7m from 1Q 2022). Profit margin: 3.6% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 28
Full year 2022 earnings released: EPS: ₱0.13 (vs ₱0.47 loss in FY 2021) Full year 2022 results: EPS: ₱0.13 (up from ₱0.47 loss in FY 2021). Revenue: ₱19.3b (up 25% from FY 2021). Net income: ₱308.8m (up ₱1.45b from FY 2021). Profit margin: 1.6% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: ₱0.067 (vs ₱0.14 loss in 3Q 2021) Third quarter 2022 results: EPS: ₱0.067 (up from ₱0.14 loss in 3Q 2021). Revenue: ₱5.10b (up 37% from 3Q 2021). Net income: ₱165.3m (up ₱506.6m from 3Q 2021). Profit margin: 3.2% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 18
Second quarter 2022 earnings released: EPS: ₱0.044 (vs ₱0.13 loss in 2Q 2021) Second quarter 2022 results: EPS: ₱0.044 (up from ₱0.13 loss in 2Q 2021). Revenue: ₱4.71b (up 24% from 2Q 2021). Net income: ₱108.1m (up ₱416.8m from 2Q 2021). Profit margin: 2.3% (up from net loss in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 10% per year and the company’s share price has also fallen by 10% per year. Board Change • May 31
High number of new directors Non-Independent Director Stephen Ly was the last director to join the board, commencing their role in 2021. Reported Earnings • May 14
First quarter 2022 earnings released: ₱0.014 loss per share (vs ₱0.12 loss in 1Q 2021) First quarter 2022 results: ₱0.014 loss per share (up from ₱0.12 loss in 1Q 2021). Revenue: ₱3.99b (flat on 1Q 2021). Net loss: ₱34.9m (loss narrowed 88% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 16% per year. Board Change • Apr 27
High number of new directors Non-Independent Director Stephen Ly was the last director to join the board, commencing their role in 2021. Reported Earnings • Apr 14
Full year 2021 earnings released: ₱0.47 loss per share (vs ₱0.75 loss in FY 2020) Full year 2021 results: ₱0.47 loss per share (up from ₱0.75 loss in FY 2020). Revenue: ₱15.4b (down 12% from FY 2020). Net loss: ₱1.14b (loss narrowed 38% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Executive Departure • Dec 01
Chief Operating Officer Waldo Basilla has left the company On the 20th of November, Waldo Basilla's tenure as Chief Operating Officer ended. We don't have any record of a personal shareholding under Waldo's name. A total of 5 executives have left over the last 12 months. The current median tenure of the management team is 1.42 years, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • Nov 13
Third quarter 2021 earnings released: ₱0.14 loss per share (vs ₱0.13 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: ₱3.71b (down 19% from 3Q 2020). Net loss: ₱341.3m (loss widened 9.5% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 18
Second quarter 2021 earnings released: ₱0.13 loss per share (vs ₱0.25 loss in 2Q 2020) The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: ₱3.80b (down 3.2% from 2Q 2020). Net loss: ₱308.7m (loss narrowed 50% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Reported Earnings • May 20
First quarter 2021 earnings released: ₱0.12 loss per share (vs ₱0.044 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: ₱3.99b (down 23% from 1Q 2020). Net loss: ₱291.1m (loss widened 167% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Executive Departure • Apr 17
Lead Independent Non-Executive Director has left the company On the 15th of April, Joseph Tan's tenure as Lead Independent Non-Executive Director ended after 4.2 years in the role. As of December 2020, Joseph personally held only 100.00 shares (₱830 worth at the time). A total of 2 executives have left over the last 12 months. Reported Earnings • Apr 01
Full year 2020 earnings released: ₱0.75 loss per share (vs ₱0.17 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: ₱17.4b (down 19% from FY 2019). Net loss: ₱1.84b (loss widened 342% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. お知らせ • Mar 19
SM Investments Corporation (PSE:SM) authorized the conduct of a mandatory tender offer to acquire remaining 37.8% stake in 2GO Group, Inc. (PSE:2GO) for PHP 7.9 billion. SM Investments Corporation (PSE:SM) authorized the conduct of a mandatory tender offer to acquire remaining 37.8% stake in 2GO Group, Inc. (PSE:2GO) for PHP 7.9 billion on March 18, 2021. In related deal SM Investments Corporation (PSE:SM) agreed to acquire additional 31.7% stake in 2GO from Chelsea Logistics and Infrastructure Holdings Corp. on March 18, 2021. Reported Earnings • Mar 16
Full year 2020 earnings released: ₱0.75 loss per share (vs ₱0.17 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: ₱17.4b (down 19% from FY 2019). Net loss: ₱1.84b (loss widened 342% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. お知らせ • Mar 11
2GO Group, Inc., Annual General Meeting, Apr 23, 2021 2GO Group, Inc., Annual General Meeting, Apr 23, 2021, at 01:00 Coordinated Universal Time. Agenda: To consider call to Order; to consider certification of Notice and Quorum; to consider approval of Minutes of Annual Meeting of Stockholders held on June 18, 2020; to consider approval of Annual Report for 2020; to consider approval and Ratification of the Acts of the Board of Directors and Management; to consider election of Directors for 2021-2022; to consider appointment of External Auditor; to consider Other Matters. Is New 90 Day High Low • Jan 21
New 90-day low: ₱8.20 The company is down 8.0% from its price of ₱8.95 on 23 October 2020. The Filipino market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Shipping industry, which is up 55% over the same period. Is New 90 Day High Low • Jan 04
New 90-day low: ₱8.27 The company is down 3.0% from its price of ₱8.50 on 07 October 2020. The Filipino market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Shipping industry, which is up 55% over the same period. Reported Earnings • Nov 12
Third quarter 2020 earnings released: ₱0.13 loss per share The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2020 results: Revenue: ₱4.60b (down 14% from 3Q 2019). Net loss: ₱311.7m (loss narrowed 45% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 11
New 90-day high: ₱9.25 The company is up 9.0% from its price of ₱8.45 on 13 August 2020. The Filipino market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Shipping industry, which is up 27% over the same period. Is New 90 Day High Low • Oct 21
New 90-day high: ₱9.20 The company is up 2.0% from its price of ₱9.03 on 23 July 2020. The Filipino market is also up 2.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Shipping industry, which is up 16% over the same period.