GT Capital Holdings Inc., the conglomerate led by the Ty family, reported an 11% drop in consolidated net income to ₱16.41 billion during the first half of 2026, down from ₱18.42 billion in the previous year, as a broader macroeconomic drag clipped local automotive demand.
The main drag on group performance stemmed from its primary automotive business, Toyota Motor Philippines Corp., which recorded a 33% drop in net profit to ₱8.4 billion from ₱12.5 billion in the prior period.
Revenues for the car manufacturer shrank 15% to ₱115.4 billion compared to ₱135.6 billion a year earlier, pulled down by elevated global oil prices that cooled vehicle purchases.
Despite the downturn in retail vehicle momentum, Toyota Motor Philippines highlighted early signals of a rebound, noting a 3.2% month-on-month sales uptick in June.
Toyota Motor Philippines President Masando Hashimoto expressed confidence in the industry’s recovery trajectory, pointing out that the brand remains positioned to reach its major target of three million cumulative vehicle sales within the year.
The automotive decline was partially cushioned by steady contributions from the group’s banking and infrastructure businesses.
Metropolitan Bank & Trust Company (Metrobank) posted a flat net income of ₱24.9 billion for the six-month period, underpinned by steady loan expansion, resilient net interest margins, and modest increases in fee-based income.
Metrobank President Fabian Dee credited the steady performance to a disciplined and prudent approach to navigating growth alongside risk within a challenging operating backdrop for financial institutions.
Meanwhile, infrastructure unit Metro Pacific Investments Corporation (MPIC) saw its core net income climb 6% year-on-year to P16 billion, helping bolster group profits through its array of utility assets.
GT Capital President Carmelo Maria Luza Bautista summarized the group’s financial performance in a regulatory filing with the Philippine Stock Exchange (PSE):
”GT Capital’s first half results reflect the impact of a slower macroeconomic environment,” GT Capital President Carmelo Maria Luza Bautista said in a disclosure to the Philippine Stock Exchange (PSE).
”Nevertheless, we will approach the second half of the year with a continued focus on disciplined execution of our strategic priorities,” Bautista added.
In real estate, property arm Federal Land Inc. completed 866 units and turned over 723 units during the first six months, building on its execution after delivering 2,268 units in 2025. Its commercial operations sustained momentum, boosted by stronger customer traffic at its flagship MITSUKOSHI BGC location.
Additionally, insurance affiliate AXA Philippines Life and General Insurance Corp. registered a 31% surge in gross premiums to ₱21.8 billion. Its life segment was propelled by single-premium unit-linked and health policies, while non-life premiums rose 16% to ₱2.4 billion, supported by its ongoing motor loan distribution agreement with Metrobank.