Tuesday, February 6, 2018

2GO Group, Inc. (2GO)

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For the updated or exact information, you should check edge.pse.com.ph or their official website.


1. Company Information
Company Name
2GO Group, Inc. (2GO)
Sector
Services
Incorporation Date
May 26, 1949
Subsector
Transportation Services
Number of employees
 760 (Group Total)
Board of Directors
Chairman: Dennis A. Uy
Website / E-mail
http://www.atsc.com.ph / investor_relations@2go.com.ph
2. Stock Information
Total Assets
16,555,218,000
Market Capitalization
40,850,477,880.00
Total Liabilities
12,549,932,000
Outstanding Shares
2,446,136,400
Retained Earnings
714,697,000
Listed Shares
2,484,652,900
Listing Date
May 15, 1995
Issued Shares
2,484,652,900
Board Lot
100
Free Float Level (%)
11.66%
Par Value
1.00
Foreign Ownership Limit
40%
3. Major Stock Holders (common shares)
NEGROS NAVIGATION CO., INC.
PCD NOMINEE CORPORATION (FOREIGN)
PCD NOMINEE CORPORATION (FILIPINO)
88.31%
09.84%
01.06%
4. Company Descriptions and Business Development
Notes
1.  Related companies: PNX, 2GO, CLC
     Udenna Corp, Dennis Uy’s holding firm, controls PNX and 2GO, CLC(Chelsea Logistics Corp.).
     Through Udenna, Uy is expanding business aggressively such as Casino, property, education, etc.
2. SM Investment Corp. (SM) bought 34.5% stake of Nenaco in 2017.
Overview
2GO is the country’s largest integrated supply chain operator whose businesses include shipping, freight forwarding, warehousing and express delivery services. It was founded as a shipping service company under the name of William Lines, Inc. In 1995, William Lines, Carlos A. Gothong Lines and Aboitiz Shipping Corp. consolidated into WG&A. In 2004, Aboitiz Equity
Ventures, Inc(AEV) bought shares from other holders but sold out its shareholdings(98.12%) to Negros Navigation Co., Inc.(NENACO) in 2010. In 2012, they changed the company name to 2GO Group, Inc.  NENACO is one of the oldest domestic shipping companies in the Philippines. It has twenty-four (24) operating vessels, of which 19 are company-owned ships. Total passenger capacity is around 13,561 passengers and cargo capacity is around 3,724 TEUs. Based on the port statistics 2Go serves, 2Go has 90% sea travel passage market share and 38% of freight market share. It primarily utilizes Cebu Pacific Air (CEB) for air transport requirement.

Business
Revenue Contribution in 2016 (in million pesos)
Shipping
Non-shipping
Freight
Passage
Logistics
Sale of Goods
Cold chain & ISO tank
Port Services
Int’l freight forwarding
Others
5,014
3,941
4,671
3,547
1,424
153
46
475
26.01%
20.45%
24.24%
18.41%
7.39%
0.79%
0.24%
2.46%

2GO Travel handles travel and consumer services. It integrates country’s leading passenger ships and fast ferries such as Negros Navigation, SuperFerry, SuperCat and Cebu Ferries. It also provides accommodation, tour and events services except for passenger transport.
2GO Freight
It handles commercial and personal shipping needs such as household goods, containerized shipping, bult freight, refrigerated vans, RORO cargo, etc.
2GO Supply Chain
It has three (3) divisions  namely “Logistics, Express and Distribution(LED)”, ”International Logistics”, “Value-Added Services”. LED is handled through 2GO Logistics, 2GO Express and is expected to lead the group’s growth in the future. It has more than 3,233 distribution outlets across the country.  Int’l Logistics provides integrated, end-to-end service to the customers. It has partnership with global supply chain leaders such as Hapag-Lloyd, Hansa Meyer and Kerry Logistics. Value Added Services provide support to the different business unit within the group such as manpower, tugs, engineering, etc.

Subsidiaries / Associates / Affiliates / Joint Ventures
2GO Express, Inc is growing fast with the e-commerce emergence. It’s the biggest user of 2GO cargo ships.
2GO Logistics, Inc. handles logistics needs across the country especially from retailers’ order
ScanAsia Overseas Inc.(SOI) is the distribution business unit. Some of its customers are Mercury Drugstore, Procter&Gamble and Southstar Drugstore.
The Supercat Fast Ferry Corporation(SFFC)
NN-ATS Logistics Management & Holdings Co., Inc. (NALMHCI) acts as an agent or representatives of the Group.
Special Container and Value Added Services, Inc. (SCVASI) is a non-vessel operating common carrier.
2GO Rush Delivery, Inc. is in charge of logistics and delivery services.
WRR Trucking Corporation(WTC) is a wholly owned subsidiary of 2GO Express.


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