Horizontal analysis

Ayala Corporation
Statement of Financial Position 2019 2018
In millions Audited Audited

Asssets
Cash 60,624
Short term investment 106,793 5,956
Accounts receivable and notes receivable 130,869 105,519
Contract assets 0 52,209
Inventories 135,064 120,560
Other current assets 62,933 67,890
Non current & other note receivable 55,720 6,366
Non current contract assets 0 35,930
Investment in associate 246,731 240,141
Investment properties 246,732 227,646
Property plant and equipment 88,782 104,494
Other noncurrent assets 47,304 40,088
Service concession asset 1,639 98,404
Deferred tax asset 0 15,546
Other assets 0 16,553
Total assets 1,345,288 1,197,926
Liabilities and Equity
Short term debt 29,789 39,518
Accounts payable & accrued expenses 195,418 204,758
Income tax payable 0 3,407
Long-term debt-current 0 48,481
Contract liabilities 121,488 21,989
Other current liabilities 30,792 11,129
Service concession obligation 66 7,839
Long-term debt 375,553 324,263
Deferred tax liabilities net 10,999
Noncurrent contract liabilities 8,630
Non Current liabilities 82,873 47,804
Total liabilities 835,979 728817
Equity
Paid in capital 83,362
Cumulative translation 2,277
Retained earnings 196,915
Equity reserve 10,872
Equity others 330,275 -2,273
FV reserver on FVOCI -1,467 -545
Non-controlling interest 180,506 178,501
Total Liabilities and Equity 1,345,288 1,197,926

Ayala Corporation
Statement of Financial Position 2020 2019
In millions Audited Audited

Assets
Cash, cash equivalents and short te investment 89,476 106,793
Accounts and notes receivable 137,094 130,869
Inventories 160,872 135,064
Other current assets 71,468 62,933
Asset under PFRS 5 196,137 170,467
Noncurrent accounts and notes receivable 57,382 55,720
Investment in associate and joint venture 255,008 246,731
Investment properties 226,457 246,732
Property plant and equipment 94,538 88,782
Service concession asset 1,556 1,639
Intangible, ROU assets contract asset and deferred tax ass 56,918 52,252
Other noncurrent asset 58,852 47,304
Total assets 1,405,758 1,345,286
Liabilities and Equity
Short term debt 32,440 29,789
Accounts payable and accrued expenses 177,315 195,418
Other current liabilities 28,361 30,792
Liabilities under PFRS 5 124,291 121,487
Long-term dent 409,315 375,550
Service concession obligation 86 66
Lease, deferred tax and pension liabilities 38,609 34,173
Other liabilities 52,918 48,700
Total liabilities 863,336 835,975
Equity attributable to owner of the parent company 339,966 330,275
Reserves under PFRS -800 -1,467
Non-controlling interest 203,242 180,506
Total Liabilities and Equity 1,405,758 1,345,286
Increase (decrease) 2018 vs 2019

40,213 60.39%
25,350 24.02%
-52,209 -100%
14,504 12.03%
-4,957 -7.30%
49,354 775.27%
-35,930 -100%
6,590 2.74%
19,086 8.38%
-15,712 -15.07%
7,216 18%
-96,765 -98.33%
-15,546 -100%
-16,553 -100%
147,362 12.30%

-9,729 -24.62%
-9,340 -4.56%

99,499 452.49%
19,663 176.68%
-7,773 -99.16%
51,290 15.81%

15,440 22.70%
107,162 14.70%

39,122 13.44%
 922 169.17%
2,005 1.12%
147,362 12.30%

Increase (decrease) 2019 vs. 2020

-17,317 -16.22%
6,225 4.75%
25,808 19.10%
8,535 13.56%
25,670 15.06%
1,662 2.98%
8,277 3.35
-20,275 -8.22%
5,756 6.48%
-82 -5%
4,666 8.93%
11,548 24.41%
60,472 4.50%

2,651 9%
-18,101 -9%
-2,430 -8%
2,204 2%
33,765 9%
20 30%
4,436 12.98%
4,218 8.66%
27,357 3.27%
9,705 2.94%
667 45.47%
22,736 12.60%
60,472 4.49%
 Ayala Corporation
Statement of Financial Position
In millions
2018
Asssets Percentage
Cash 60,624 5.06%
Short term investment 5,956 0.50%
Accounts receivable and notes receivable 105,519 8.81%
Contract assets 52,209 4.36%
Inventories 120,560 10.06%
Other current assets 67,890 5.67%
Non current & other note receivable 6,366 0.53%
Non current contract assets 35,930 3%
Investment in associate 240,141 20.05%
Investment properties 227,646 19%
Property plant and equipment 104,494 8.72%
Other noncurrent assets 40,088 3.35%
Service concession asset 98,404 8.21%
Deferred tax asset 15,546 1.29%
Other assets 16,553 1.38%
Total assets 1,197,926 100%
Liabilities and Equity
Short term debt 39,518 5.42%
Accounts payable & accrued expenses 204,758 28.09%
Income tax payable 3,407 0.47%
Long-term debt-current 48,481 6.65%
Contract liabilities 21,989 3.02%
Other current liabilities 11,129 1.53%
Service concession obligation 7,839 1.08%
Long-term debt 324,263 44.49%
Deferred tax liabilities net 10,999 1.51%
Noncurrent contract liabilities 8,630 1.18%
Non Current liabilities 47,804 6.56%
Total liabilities 728817 60.84%
Equity
Paid in capital 83,362 17.77%
Cumulative translation 2,277 0.48%
Retained earnings 196,915 41.97%
Equity reserve 10,872 2.32%
Equity others -2,273 -0.48%
FV reserver on FVOCI -545 -0.12%
Non-controlling interest 178,501 38.06%
Total Equity 469,109 39.16%
Total Liabilities and Equity 1,197,926 100%
 Ayala Corporation
Statement of Financial Position
In millions
2019
Assets Percentage
Cash, cash equivalents and short te investment 106,793 7.94%
Accounts and notes receivable 130,869 9.72%
Inventories 135,064 10.04%
Other current assets 62,933 4.68%
Asset under PFRS 5 170,467 12.67%
Noncurrent accounts and notes receivable 55,720 4.14%
Investment in associate and joint venture 246,731 18.34%
Investment properties 246,732 18.34%
Property plant and equipment 88,782 6.60%
Service concession asset 1,639 0.12%
Intangible, ROU assets contract asset and deferred tax asset 52,252 3.88%
Other noncurrent asset 47,304 3.52%
Total assets 1,345,286 100%
Liabilities and Equity
Short term debt 29,789 3.56%
Accounts payable and accrued expenses 195,418 23.38%
Other current liabilities 30,792 3.68%
Liabilities under PFRS 5 121,487 14.53%
Long-term dent 375,550 44.92%
Service concession obligation 66 0.01%
Lease, deferred tax and pension liabilities 34,173 4.09%
Other liabilities 48,700 5.83%
Total liabilities 835,972 62.14%
Equity attributable to owner of the parent company 330,275 64.85%
Reserves under PFRS -1,467 -0.29%
Non-controlling interest 180,506 35.44%
Total Equity 509,314 37.86%
Total Liabilities and Equity 1,345,286 100%
 Ayala Corporation
Statement of Financial Position
In millions
2020
Assets Percentage
Cash, cash equivalents and short te investment 89,476 6.36%
Accounts and notes receivable 137,094 9.75%
Inventories 160,872 11.44%
Other current assets 71,468 5.08%
Asset under PFRS 5 196,137 13.95%
Noncurrent accounts and notes receivable 57,382 4.08%
Investment in associate and joint venture 255,008 18.14%
Investment properties 226,457 16.11%
Property plant and equipment 94,538 6.72%
Service concession asset 1,556 0.11%
Intangible, ROU assets contract asset and deferred tax asset 56,918 4.05%
Other noncurrent asset 58,852 4.19%
Total assets 1,405,758 100%
Liabilities and Equity
Short term debt 32,440 3.76%
Accounts payable and accrued expenses 177,315 20.54%
Other current liabilities 28,360 3.28%
Liabilities under PFRS 5 124,291 14.40%
Long-term dent 409,315 47.41%
Service concession obligation 86 0.01%
Lease, deferred tax and pension liabilities 38,609 4.59%
Other liabilities 52,918 6.13%
Total liabilities 863,336 61.41%
Equity attributable to owner of the parent company 339,980 62.68%
Reserves under PFRS -800 -0.15%
Non-controlling interest 203,242 37.47%
Total Equity 542,422 38.59%
Total Liabilities and Equity 1,405,758 100%
Year 2018
in millions
Current ratio = Current asset/Current liabilities
412,758/329,285= 1.25
Receivable turnover= Net credit sales(revenue)/Average Accounts receivable
113,520.40/105,519= 1.08
Average collection period= 365/Receivable turnover
365/1.08= 338 days
Asset turnover= Net revenue/Average total assets
283,801/1,197,926= 23.69
Debt ratio= Total liabilities/Total Assets
412,262/1,197,926= 34.41
Net profit margin= Net income/ Revenue
31,818/283,801= 11.21%
Gross profit ratio= Gross revenue/total revenue
156,090.55/283,801= 55%
Year 2019

Current ratio = Current asset/Current liabilities

606,126/255,999= 2.38
Receivable turnover= Net credit sales(revenue)/Average Accounts receiv
118,106/118,194= .99
Average collection period= 365/Receivable turnover
365/.99= 369days
Asset turnover= Net revenue/Average total assets
295,265/1,271,606= 23.21
Debt ratio= Total liabilities/Total Assets
835,972/1,345,286= .6214
Net profit margin= Net income/ Revenue
35,279/295,265= 11.95%
Gross profit ratio= Gross revenue/total revenue
127,938.32/295,265= 43.33%
Year 2020

Current ratio = Current asset/Current liabilities

655,047/238,115= 2.75
Receivable turnover= Net credit sales(revenue)/Average Accounts receivable
87,970/133,981.5= .66
Average collection period= 365/Receivable turnover
365/.66= 553days
Asset turnover= Net revenue/Average total assets
219,925/1,375,522= 0.1598
Debt ratio= Total liabilities/Total Assets
863,336/1,405,758= .6141
Net profit margin= Net income/ Revenue
17,142/219,925= 7.79%
Gross profit ratio= Gross revenue/total revenue
78,073.375/219,925=39.5%