Key Balance Sheet Items

in PHP mill 2022 2023 Change YoY

Total Assets 48,334 51,542 7%
Notes
Payable - 4,649 2,877 -38%
Current
Long-Term
3,165 3,157 0%
Loan
Total Equity 28,779 32,851 14%
BVPS
8.1 9.3 14%
(PHP/sh)
Return of
18.6 18.1 -0.5pps
Equity (%)
Current
2.1 2.5 17%
Ratio (x)
Net Gearing
0.2 0.0 -85%
(x)

Key Profit & Loss Items

in PHP mill 2022 2023 Change YoY

Net
62,259 67,124 8%
Revenues
Operating
6,084 6,932 14%
Income
Net Income 4,999 5,579 12%
EPS
1.4 1.6 12%
(PHP/sh)
Operating
9.8 10.3 +0.6pps
Margin (%)
Net Income
8.0 8.3 +0.3pps
Margin (%)
Key Cash Flow Metrics
in PHP mill 2022 2023 Change YoY
Operating
2,419 8,310 244%
Cash Flow

Net Increase
421 2,901 589%
in Cash

Ending Cash 2,149 5,050 135%

Free Cash
1,030 6,794 560%
Flow
Working
16,703 15,836 -5%
Capital
Cash
Conversion 112 dd 97 dd -15 dd
Cycle
Key Balance Sheet Items

in PHP mill 2021 2022 Change YoY

Total Assets 40,880 48,334 18%
Notes
Payable - 2,810 4,649 65%
Current
Long-Term
1,982 3,165 60%
Loan
Total Equity 24,888 28,779 16%
BVPS
7.03 8.12 16%
(PHP/sh)
Return of
20.2 18.6 -1.6pps
Equity (%)
Current
2.15 2.13 -1%
Ratio (x)
Net Gearing
0.12 0.20 67%
(x)

Key Profit & Loss Items

in PHP mill 2021 2022 Change YoY

Net
54,710 62,259 14%
Revenues
Operating
5,865 6,084 4%
Income
Net Income 4,673 4,999 7%
EPS
1.32 1.41 7%
(PHP/sh)
Operating
10.7 9.8 -0.9pps
Margin (%)
Net Income
8.5 8.0 -0.5pps
Margin (%)
Key Cash Flow Metrics
in PHP mill 2021 2022 Change YoY
Operating
2,881 2,419 -16%
Cash Flow

Net Increase
499 421 -16%
in Cash

Ending Cash 1,728 2,149 24%

Free Cash
741 1,030 39%
Flow
Working
12,913 16,703 29%
Capital
Cash
Conversion 96 dd 112 dd 16 dd
Cycle
Key Balance Sheet Items

in PHP mill 2020 2021 Change YoY

Total Assets 36,276 40,880 13%
Notes
Payable - 3,533 2,810 -20%
Current
Long-Term
0 1,982 n/a
Loan
Total Equity 21,436 24,888 16%
BVPS
6.05 7.03 16%
(PHP/sh)
Return of
19.1 20.2 +1.1pps
Equity (%)
Current
1.74 2.15 24%
Ratio (x)
Net Gearing
0.11 0.12 9%
(x)

Key Profit & Loss Items

in PHP mill 2020 2021 Change YoY

Net
48,302 54,710 13%
Revenues
Operating
5,389 5,865 9%
Income
Net Income 3,879 4,673 20%
EPS
1.1 1.32 20%
(PHP/sh)
Operating
11.2 10.7 +0.5pps
Margin (%)
Net Income
8.0 8.5 +0.5pps
Margin (%)
Key Cash Flow Metrics
in PHP mill 2020 2021 Change YoY
Operating
5,177 2,877 -44%
Cash Flow

Net Increase
-378 499 n/a
in Cash

Ending Cash 1,230 1,728 40%

Free Cash
3,485 741 -79%
Flow
Working
10,215 12,913 26%
Capital
Cash
Conversion 85 dd 96 dd 11 dd
Cycle
Key Balance Sheet Items
in PHP
2019 2020 Change YoY
mill
Total
32,589 36,276 11%
Assets
Notes
Payable - 2,434 3,533 45%
Current

Long-Term
3,087 0 -100%
Loan

Total
19,154 21,436 12%
Equity
BVPS
5.41 6.05 12%
(PHP/sh)
Return of
17.6 19.1 +1.5pps
Equity (%)
Current
2.22 1.74 -22%
Ratio (x)
Net
Gearing 0.20 0.11 -45%
(x)

Key Profit & Loss Items

in PHP
2019 2020 Change YoY
mill
Net
40,560 48,302 19%
Revenues
Operating
4,408 5,389 22%
Income
Net
3,149 3,879 23%
Income
EPS
0.89 1.1 24%
(PHP/sh)
Operating
10.9 11.2 +0.3pps
Margin (%)

Net
Income 7.8 8.3 +0.5pps
Margin (%)

Key Cash
Flow
Metrics
in PHP
2019 2020 Change YoY
mill
Operating
3,681 5,178 41%
Cash Flow
Net
Increase in -68 -378 -456%
Cash
Ending
1,608 1,230 -24%
Cash
Free Cash
1,907 3,485 83%
Flow
Working
11,950 12,243 2%
Capital
Cash
Conversio 121 dd 103 dd -18 dd
n Cycle
 Key
Balance
Sheet
Items
in PHP
2018 2019 Change YoY
mill
Total
30,336 32,589 7%
Assets
Notes
Payable - 3,210 2,434 -24%
Current

Long-Term
3,103 3,087 -1%
Loan

Total
16,725 19,154 15%
Equity
BVPS
4.72 5.41 15%
(PHP/sh)
Return of
18.2 17.6 -0.6pps
Equity (%)
Current
2.02 2.22 10%
Ratio (x)
Net
Gearing 0.28 0.20 -29%
(x)

Key Profit
& Loss
Items
in PHP
2018 2019 Change YoY
mill
Net
37,885 40,560 7%
Revenues
Operating
3,799 4,408 16%
Income
Net
2,834 3,149 11%
Income
EPS
0.80 0.89 11%
(PHP/sh)

Operating
10.0 10.9 +0.9pps
Margin (%)

Net
Income 7.5 7.8 +0.3pps
Margin (%)

Key Cash
Flow
in PHP
Metrics 2018 2019 Change YoY
mill
Operating
-418 3,681 -
Cash Flow
Net
Increase in 128 -68 -
Cash
Ending
1,676 1,608 -4%
Cash
Free Cash
-1,726 1,907 -
Flow
Working
Cash 11,725 11,950 2%
Capital
Conversio 125 dd 121 dd -4 dd
n Cycle
 Key
Balance
Sheet
Items
in PHP
2017 2018 Change YoY
mill
Total
23,359 30,336 30%
Assets
Notes
Payable - 2,089 3,210 54%
Current

Long-Term
1,620 3,103 92%
Loan

Total
14,483 16,725 15%
Equity
BVPS
4.09 4.72 15%
(PHP/sh)
Return of
18.9 18.2 -0.7pps
Equity (%)
Current
2.06 2.02 -2%
Ratio (x)
Net
Gearing 0.15 0.28 87%
(x)

Key Profit
& Loss
Items
in PHP
2017 2018 Change YoY
mill
Net
32,907 37,885 15%
Revenues
Operating
3,429 3,799 11%
Income
Net
2,552 2,834 11%
Income
EPS
0.72 0.80 11%
(PHP/sh)

Operating
10.4 10.0 -0.4pps
Margin (%)

Net
Income 7.8 7.5 -0.3pps
Margin (%)

Key Cash
Flow
in PHP
Metrics 2017 2018 Change YoY
mill
Operating
2,212 -418 -
Cash Flow
Net
Increase in 853 128 -85%
Cash
Ending
1,549 1,676 8%
Cash
Free Cash
680 -1,726 -
Flow
Working
Cash 7,293 11,725 61%
Capital
Conversio 87 dd 125 dd 38 dd
n Cycle
 Key Balance
Sheet Items
in PHP mill 2016 2017 Change YoY
Total Assets 19,931 23,359 17%
Notes Payable -
671 2,089 211%
Current
Long-Term Loan 1,634 1,620 -1%
Total Equity 12,539 14,483 16%
BVPS (PHP/sh) 3.54 4.09 16%
Return of Equity
23.2 18.9 -0.7pps
(%)
Current Ratio (x) 2.26 2.06 -9%
Net Gearing (x) 0.13 0.15 15%

Key Profit &

Loss Items
in PHP mill 2016 2017 Change YoY
Net Revenues 26,796 32,907 23%
Operating
3,613 3,429 -5%
Income
Net Income 2,656 2,552 -4%
EPS (PHP/sh) 0.75 0.72 -4%
Operating
13.5 10.4 -3.1pps
Margin (%)
Net Income
9.9 7.8 -2.1pps
Margin (%)

Key Cash Flow

Metrics
in PHP mill 2016 2017 Change YoY
Operating Cash
1,715 2,212 29%
Flow
Net Increase in
-27 853 -
Cash
Ending Cash 696 1,549 123%
Free Cash Flow 156 680 336%
Working
CashCapital 6,753 7,293 8%
Conversion 103 dd 87 dd -16 dd
Cycle
Note: IFRS 15 is only applied beginning 2016.
Key Balance
Sheet Items
in PHP mill 2015 2016 Change YoY
Total Assets 16,782 19,932 19%
Notes Payable -
2,250 671 -70%
Current
Long-Term Loan 0 1,634 -
Total Equity 10,347 12,539 21%
BVPS (PHP/sh) 3.09 3.54 15%
Return of Equity
22.8 23.2 +0.4pps
(%)
Current Ratio (x) 1.68 2.26 35%
Net Gearing (x) 0.15 0.13 -13%

Key Profit &

Loss Items
in PHP mill 2015 2016 Change YoY
Net Revenues 23,325 26,796 15%
Operating
2,732 3,613 32%
Income
Net Income 1,934 2,656 37%
Net Income
(organic,
excluding 1,934 2,656 25%
coconut
acquisition)
EPS (PHP/sh) 0.58 0.75 30%
Operating
11.7 13.5 +1.8pps
Margin (%)
Net Income
8.3 9.9 +1.6pps
Margin
Net (%)
Income
(organic,
Margin
excluding 8.30% 9.50% +1.2pps
coconut
acquisition)

Key Cash Flow

Metrics
in PHP mill 2015 2016 Change YoY
Operating Cash
-698 1,715 -
Flow
Net Increase in
-542 -27 -
Cash
Ending Cash 722 696 -4%
Free Cash Flow -1,765 545 -
Working
Cash Capital 5,655 6,753 19%
Conversion 100 dd 103 dd +3 dd
Cycle
Note: 2015 per share figures adjusted for 50% stock dividend declared in 2016
Key Balance
Sheet Items
in PHP mill 2014 2015 Change YoY
Total Assets 11,189 16,782 50%
Notes Payable -
0 2,250 -
Current
Long-Term Loan 0 0 -
Total Equity 6,580 10,347 57%
BVPS (PHP/sh) 3.12 3.09 -0.9%
Return of Equity
24.2 22.8 -1.4pps
(%)
Current Ratio (x) 5.79 1.68 -71%
Net Gearing (x) -0.19 0.15 +

Key Profit &

Loss Items
in PHP mill 2014 2015 Change YoY
Net Revenues 20,439 23,325 14%
Operating
2,254 2,732 21%
Income
Net Income 1,592 1,934 21%
EPS (PHP/sh) 0.51 0.58 14%
Operating
11 11.7 +0.7pps
Margin (%)
Net Income
7.8 8.3 +0.5pps
Margin (%)

Key Cash Flow

Metrics
in PHP mill 2014 2015 Change YoY
Operating Cash
262 -698 -
Flow
Net Increase in
826 -542 -
Cash
Ending Cash 1,264 722 -43%
Free Cash Flow -278 -1,765 -
Working
Cash Capital 5,027 5,655 12%
Conversion 98 dd 100 dd 2 dd
Cycle
Note: 2015 per share figures adjusted for 50% stock dividend declared in 2016