ASSETS

Current Assets
Cash and Cash Equivalents
Short-term investments
Financial assets at fair value through profit or loss
Receivables and contract assets
Inventories
Other current assets
Total Current Assets

Noncurrent Assets
Financial assets at fair value through profit or loss
Interests in and advances to joint ventures, co-venturers and associates
Property, plant and equipment
Right-of-use assets
Investment properties
Trademarks, goodwill, and other intangible assets
Operating lease receivables
Finance lease receivables
Deferred tax assets - net
Other non-current assets
Total Non-Current Assets

LIABILITIES AND EQUITY

Current Liabilities
Trade payables and other current liabilties and contract liabilities
Income tax payable
Short-term debt
Current portion of:
Lease liabilities
Long-term debt
Provisions
Liability for acquisition of a business
Total Current Liabilties

Noncurrent Liabilities
Senior debt securities
Non current portion of:
Lease liabilities
Long-term debt
interest in an associate
Pension liability
Derivative liability
Provisions
Deferred tax liability
Total Noncurrent Liabilities
Total Liabilties

Equity Attributes to Equity Holders of the Parent Company

Capital stock - net of subscription receivable
Addisional paid-in capital
Other reserve
Cumulative translation adjustments of foregin subsidiaries and interest in joint ventures and associat
Remeasurement loss on net defined benefit plan - net of tax
Comprehensive loss on derivative liability
Excess of vost over the carrying value of non-controlling interest acquired
Retained earnings:
Appropriated for future expansion
Unappropriated

Less cost of common stock held in treasury

Senior perpetual securities

Non-controlling interests
Total Equity
 2020 2019 Y-o-Y Growth

P21,361,486 10.13% P20,892,021 11.15% 2.25%

441,000 0.21% 2,130,000 1.14% -79.30%
35,658,565 16.92% 0 0% 0%
7,049,934 3.34% 5,906,289 3.15% 19.36%
8,295,828 3.94% 9,966,084 5.32% -16.76%
7,233,744 3.43% 6,725,008 3.59% 7.56%
80,040,557 37.97% 45,619,402 24.34% 75.45%

P33,792 0.02% P38,202 0.02% -11.54%

7,329,618 3.48% 6,832,102 3.64% 7.28%
28,684,131 13.61% 32,592,122 17.39% -11.99%
34,224,143 16.23% 42,466,962 22.66% -19.41%
572,722 0.27% 572,722 0.31% 0%
50,224,078 23.82% 50,815,332 27.11% -1.16%
87,160 0.04% 98,749 0.05% -11.74%
70,800 0.03% 161,934 0.09% -56.28%
6,114,384 2.90% 4,449,262 2.37% 37.42%
3,428,745 1.63% 3,795,974 2.03% -9.67%
130,769,573 62.03% 141,823,360 75.66% -7.79%
210,810,130 100% 187,442,763 100% 12.47%

P31,366,014 14.88% P34,317,557 18.31% -8.60%

196,658 0.09% 391,914 0.21% -49.82%
15,875,457 7.53% 22,180,320 11.83% -28.43%

6,479,140 3.07% 7,036,754 3.75% -7.92%

4,720,096 2.24% 3,415,975 1.82% 38.18%
291,110 0.14% 0 0% 0%
0 0% 2,800 0.00% -1%
58,928,475 27.95% 67,345,320 35.93% -12.50%

P28,628,999 13.58% P0 0% 0.00%

32,604,585 15.47% 40,270,650 21.48% -19.04%

14,538,117 6.90% 19,179,748 10.23% -24.20%
127,894 0.06% 0 0% 0.00%
 2,917,500 1.38% 2,221,320 1.19% 31.34%
141,480 0.07% 58,241 0.03% 142.92%
1,035,636 0.49% 825,109 0.44% 25.52%
3,855,579 1.93% 4,172,633 2.23% 7.90%
83,849,790 39.78% 66,727,701 35.60% 25.66%
P142,778,265 67.73% P134,073,021 71.53% 6.49%

P1,105,079 0.52% P1,092,971 0.58% 1.11%

9,913,890 4.70% 8,797,360 4.69% 12.69%
1,877,400 0.89% 1,877,400 1.00% 0.00%
-477,554 -0.23% 832,080 0.44% -157.39%
-1,401,113 -0.66% -965,391 -0.52% 45.13%
-141,480 -0.07% -58,241 -0.03% 142.92%
-2,026,340 -0.96% -1,804,766 -0.96% 12.28%

20,000,000 9.49% 20,000,000 10.67% 0.00%

9,869,889 4.68% 23,879,437 12.74% -58.67%
38,719,771 53,650,850
-180,511 -0.09% -180,511 -0.10% 0.00%
38,539,260 53,470,339
30,588,000 14.51% 0 0.00% 0.00%
-1,095,395 -0.52% -100,597 -0.05% 988.89%
68,031,865 32.27% 53,369,742 28.47% 27.47%
P210,810,130 100% P187.442,763 100% 12.47%
REVENUE
Gross sales
Sales discount

Net sales
Royalty, set-up fees and others

PFRS 15 impact on system-wide advertising fees

DIRECT COSTS
GROSS PROFIT
EXPENSES
General and administrative expenses - net
Advertising and promotions

INTEREST INCOME (EXPENSE)

Interest income
Interest expense

EQUITY IN NET EARNINGS (LOSSES) OF JOINT VENTURES AND ASSOCIATES

VENTURES AND ASSOCIATES - Net
OTHER INCOME
INCOME (LOSS) BEFORE INCOME TAX
PROVISION FOR (BENEFIT FROM) INCOME TAX
Current
Deferred

NET INCOME (LOSS)

OTHER COMPREHENSIVE INCOME (LOSS)

Other comprehensive income (loss) to be reclassified to profit or loss in subsequent periods:
Translation adjustments of foreign subsidiaries
Translation adjustments of foreign joint ventures and associates
Comprehensive income (loss) on derivative liabiltiy

Other comprehensive income (loss) not to be reclassified to profit or loss in subsequent periods:
Remeasurement gain (loss) on pension - net tax

TOTAL COMPREHENSIVE INCOME (LOSS)

Net Income (Loss) Attributable to:
Equity holders of the Parent Company
Non-controlling interests
Total Comprehensive Income (Loss) Attributable to:
Equity holders of the Parent Company
Non-controlling interest

Earnings (Loss) Per Share for Net Income (Loss) Attributable to Equity Holders of the Parent Company
Basic
Diluted
 2020 2019 2018
P124,577,293 P170,291,063 P153,069,666
-3,332,250 -3,381,699 -2,867,840

121, 245, 043 100% 166,909,364 100% 150,200,826 100%

6,467,134 5.33% 9,715,716 5.82% 8,443,464 5.62%
127,712,177 176,625,080 158,644,290
1,600,825 1.32% 3,001,108 1.80% 2,523,492 1.68%
129,313,002 179,626,188 161,167,782
115,726,337 95.45% 150,257,881 90.02% 132,420,585 88.16%
13,586,665 11.21% 29,368,307 17.60% 28,747,197 19.14%

23,754,221 19.59% 18,906,734 11.33% 15,460,619 10.29%

2,643,907 2.18% 3,982,583 2.39% 4,027,609 2.68%
26,398,128 21.77% 22,889,317 13.71% 19,488,228 12.97%

226,616 0.19% 400,657 0.24% 424,419 0.28%

-3,787,652 -3.12% -3,187,298 -1.91% -2,617,463 -1.74%
-3,561,036 -2.94% -2,786,641 -1.67% -2,193,044 -1.46%

-1,081,308 -0.89% 23,384 0.01% -86,750 -0.06%

4,161,177 3.43% 6,850,218 4.10% 3,342,528 2.23%
-13,292,630 -10.96% 10,565,951 6.33% 10,321,703 6.87%

1,546,619 1.28% 3,255,664 1.95% 2,822,092 1.88%

-2,205,626 -1.82% -200,494 -0.12% -141,975 -0.09%
-659,007 -0.54% 3,055,170 1.83% 2,680,117 1.78%
-12,633,623 -10.42% 7,510,781 4.50% 7,641,586 5.09%

-1,331,909 -1.10% 428,818 0.26% 666,867 0.44%

69,126 0.06% -131,893 -0.08% -382,259 -0.25%
-83,239 -0.07% -141,093 -0.08% 70,903 0.05%
-1,346,022 1.11% 155,832 0.09% 355,511 0.24%

-435,722 -0.36% -657,396 -0.39% 153,774 0.10%

-1,781,744 -1.47% -501,564 -0.30% 509,285 0.34%
P -14,415,367 -11.89% P 7,009,217 4.20% P 8,150,871 5.43%

11,510,727 9.49% P 7,302,726 4.38% P 8,212,608 5.47%

1,122,896 0.93% 208,055 0.12% -571,022 -0.38%
P-12,633,623 -10.42% P 7,510,781 4.50% P 7,641,586 5.09%

P -13,339,322 -11.00% P 6,748,918 4.04% P 8,685,959 5.78%

-1,076,045 -0.89% 260,299 0.16% -535,088 -0.36%
P -14,415,367 -11.89% P 7,009,217 4.20% P 8,150,871 5.43%

P -10,445 -0.01% P 6,684 0.00% P 7,555 0.01%

-10,433 -0.01% 6,608 0.00% 7,443 0.00%
Y-o-Y Growth (2020, 2019) Y-o-Y Growth (2019,2018)
-26.84% 11.25%
-1.46% 17.92%

-27.36% 11.12%
-33.44% 15.07%
-27.68% 11.33%
-46.66% 18.93%
-28.00% 11.45%
-22.98% 13.47%
-53.74% 2.16%

25.64% 22.29%
-33.61% -1.12%
15.33% 17.45%

-43.44% -5.60%
18.84% 22.77%
27.79% 27.07%

-47.24% -126.96%
-39.25% 104.95%
-225.81% 2.37%

-52.49% 15.36%
1000.10% 41.22%
-121.57% 13.99%
-268.21% -1.71%

-410.60% -35.70%
-152.41% -65.50%
-41.00% -298.99%
-963.76% -56.17%

-33.72% -527.51%
255.24% -198.48%
-305.66% -14.01%

-257.62% -11.08%
-639.71% -136.44%
-268.21% -1.71%

-297.65% -22.30%
-513.39% -148.65%
-305.66% -14.01%

-256.27% -11.53%
-257.88% -11.22%
Probability Ratio 2020 2019 2018
Gross Profit Margin 11.21% 17.60% 19.14%
Operating Margin -2.94% -1.67% -1.46%
Net Profit Margin -10.42% 4.50% 5.09%
Return on Assets -6.34% 8.01% -
Return on Equity -20.81% 28.15% -

Operational Efficiency Ratio

Asset Turnover 0.61x 0.84x
Inventory Turnover 12.67x 16.46x
Accounts Receivable Turnover 18.72x 25.77x
Operating Cycle 48.3 36.35

Financial Health Ratio

Debt to Equity 209.87% 251.22%
Debt Ratio 67.73% 71.53%
Equity Ratio 32.27% 28.47%
Capital Structure 209.87% 251.22%