Pure Gold Financial Statements

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME
Year Ended D
In PHP
NET SALES
COST OF SALES
GROSS PROFIT
OTHER OPERATING INCOME
OPERATING EXPENSES
INCOME FROM OPERATIONS
OTHER INCOME (EXPENSES)
Interest expense
Interest Income
Others-net
INCOME BEFORE INCOME TAX
INCOME TAX EXPENSE
Current
Deferred
NET INCOME
2012
57,466,507,410
48,227,697,388
9,238,810,022
1,667,029,827
7,060,116,430
3,845,723,419
SALES % CHANGE
100.00%
47.40%
83.92%
44.16%
16.08%
66.92%
2.90%
58.48%
12.29%
61.53%
6.69%
73.55%
(74,044,583)
88,964,732
10,919,403
3,871,562,971
-0.13%
0.15%
0.02%
6.74%
13.87%
253.83%
-61.99%
75.60%
1,292,735,908
(138,711,634)
1,154,024,274
2,717,538,697
2.25%
-0.24%
2.01%
4.73%
80.91%
152.88%
74.93%
75.89%
EARNINGS PER SHARE

Basic and Diluted earnings per share
1.11
* This does not include information for Subsidiaries acquired in May 2012
Year Ended D
In Millions PHP
NET SALES
COST OF SALES
GROSS PROFIT
OPERATING EXPENSES
Interest expense
Interest Income
Others-net
INCOME TAX EXPENSE
Current
Deferred
2012
57,467
48,228
9,239
1,667
7,060
3,846
SALES % CHANGE
100.00%
47.40%
83.92%
44.16%
16.08%
66.92%
2.90%
58.48%
12.29%
61.53%
6.69%
73.55%
(74)
89
11
3,872
1,293
(139)
1,154
NET INCOME
2,718
* This does not include information for Subsidiaries acquired
-0.13%
0.15%
0.02%
6.74%
13.87%
253.83%
-61.99%
75.60%
2.25%
80.91%
-0.24%
152.88%
2.01%
74.93%
4.73%
75.89%
in May 2012
1,000,000.00
Year Ended December 31

2011*
SALES % CHANGE
38,987,883,405 100.00%
33.94%
33,453,130,008
85.80%
30.79%
5,534,753,397 14.20%
56.75%
1,051,883,532
2.70%
34.74%
4,370,772,221
11.21%
31.40%
2,215,864,708
5.68%
124.88%
2010*
29,108,004,456
25,577,007,998
3,530,996,458
780,668,193
3,326,329,654
985,334,997
SALES % CHANGE
100.00%
20.72%
87.87%
16.83%
12.13%
59.10%
2.68%
-0.59%
11.43%
30.62%
3.39%
115.05%
(65,028,007)
25,143,153
28,727,693
2,204,707,547
-0.17%
0.06%
0.07%
5.65%
-70.48%
1076.96%
-218.44%
196.75%
(220,264,174)
2,136,283
(24,255,922)
742,951,184
-0.76%
0.01%
-0.08%
2.55%
-24.10%
100.00%
16.02%
293.31%
714,565,502
(54,852,762)
659,712,740
1,544,994,807
1.83%
-0.14%
1.69%
3.96%
148.31%
-0.61%
183.65%
202.72%
287,772,592
(55,190,037)
232,582,555
510,368,629
0.99%
-0.19%
0.80%
1.75%
212.98%
60.09%
304.68%
288.33%
0.97
0.40

2011*
SALES % CHANGE
38,988 100.00%
33.94%
33,453
85.80%
30.79%
5,535 14.20%
56.75%
1,052
2.70%
34.74%
4,371
11.21%
31.40%
2,216
5.68%
124.88%
2010*
29,108
25,577
3,531
781
3,326
985
SALES % CHANGE
100.00%
20.72%
87.87%
16.83%
12.13%
59.10%
2.68%
-0.59%
11.43%
30.62%
3.39%
115.05%
(65)
25
29
2,205
-0.17%
0.06%
0.07%
5.65%
-70.48%
1076.96%
-218.44%
196.75%
(220)
2
(24)
743
-0.76%
0.01%
-0.08%
2.55%
-24.10%
100.00%
16.02%
293.31%
715
(55)
660
1,545
1.83%
-0.14%
1.69%
3.96%
148.31%
-0.61%
183.65%
202.72%
288
(55)
233
510
0.99%
-0.19%
0.80%
1.75%
212.98%
60.09%
304.68%
288.33%
2009*
24,112,391,358
21,893,011,892
2,219,379,466
785,285,921
2,546,479,692
458,185,695
PERCENT
100.00%
90.80%
9.20%
3.26%
10.56%
1.90%
(290,193,291)
(20,906,114)
188,898,518
-1.20%
0.00%
-0.09%
0.78%
91,946,742
(34,474,157)
57,472,585
131,425,933
0.38%
-0.14%
0.24%
0.55%
0.11
2009*
24,112
21,893
2,219
785
2,546
458
PERCENT
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
(290)
(21)
189
0.00%
0.00%
0.00%
0.00%
92
(34)
57
131
0.00%
0.00%
0.00%
0.00%

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
In PHP
2012
ASSETS
CURRENT ASSETS
Cash and cash equivalent
Investments in Trading Securities
Receivables-net
Merchandise Inventory- at cost
Due from related parties
Prepaid expenses and other current assets
TOTAL CURRENT ASSETS

NON CURRENT ASSETS
Investments
Property and equipment-net
Deferred tax assets-net
Intangibles
Other non current assets
TOTAL NON CURRENT ASSETS

TOTAL ASSETS
In PHP
9,084,325,007
34,946,521
956,866,308
6,611,541,340
7,014,202
688,330,063
17,383,023,441
7,879,160
9,582,936,212
17,432,364,788
1,038,071,790
28,061,251,950
45,444,275,391
2012
LIABILITIES AND EQUITY

CURRENT LIABILITIES
Accounts payable and other accrued liabilities
Loans payable
Income tax payable
Trust receipts payable
Due to related parties
Current maturities of long term debt, net
of debt issue cost
Other current liabilities
TOTAL CURRENT LIABILITIES
9,286,918,686
508,500,000
438,660,875
8,130,029
237,545,408
43,140,099
253,949,662
10,776,844,759
Non current liabilities

Non current accrued rent
Long term debt- net of current maturities
and debt issue costs
Deferred tax liabilities- net
1,120,906,123
4,909,071,263
976,419,442
Retirement benefits liability
TOTAL NON CURRENT LIABILITIES

TOTAL LIABILITIES
In PHP
157,164,520
7,163,561,348
17,940,406,107
2012
EQUITY
Capital stock
Additional paid in capital
Retained Earnings
2,766,406,250
20,830,387,095
3,907,075,939
TOTAL EQUITY
27,503,869,284
TOTAL LIABILITIES AND EQUITY
45,444,275,391
FINANCIAL RATIOS (PAST PERFORMANCE)
TOTAL ASSETS
19.99%
0.08%
2.11%
14.55%
0.02%
1.51%
38.25%
0.02%
21.09%
0.00%
38.36%
2.28%
61.75%
100.00%
% CHANGE
364.63%
45.61%
133.18%
46.18%
100.00%
28.32%
133.36%
December 31
TOTAL ASSETS
2011*
% CHANGE
1,955,167,541
24,000,214
410,357,431
4,522,929,063
536,409,934
7,448,864,183
11.72%
0.14%
2.46%
27.12%
0.00%
3.22%
44.66%
6.38%
0.87%
69.86%
54.14%
0.00%
41.78%
37.54%
0.00%
7,879,160
59.57%
6,005,557,739
-100.00%
220,139,294
153217.32%
11,370,121
-65.23%
2,985,865,794
204.00%
9,230,812,108
172.45% 16,679,676,291
0.05%
36.01%
1.32%
0.07%
17.90%
55.34%
100.00%
100.00%
44.87%
33.19%
100.00%
652.08%
96.07%
64.76%
December 31
TOTAL
LAIBILITIES AND
EQUITY
% CHANGE
TOTAL
LAIBILITIES AND
EQUITY
% CHANGE
2011*
20.44%
1.12%
0.97%
0.02%
0.52%
48.96%
100.00%
135.74%
-61.83%
2582.44%
6,234,585,807
186,076,234
21,299,667
8,855,584
37.38%
0.00%
1.12%
0.13%
0.05%
24.52%
-100.00%
82.10%
-31.14%
100.00%
0.09%
0.56%
23.71%
100.00%
42.74%
62.58%
177,912,643
6,628,729,935
0.00%
1.07%
39.74%
0.00%
-40.02%
-11.96%
2.47%
69.08%
662,950,406
3.97%
30.60%
10.80%
2.15%
100.00%
100.00%
0.00%
0.00%
0.00%
0.00%
0.35%
15.76%
39.48%
105.83%
868.96%
143.49%
76,356,980
739,307,386
7,368,037,321
0.46%
4.43%
44.17%
94.63%
35.20%
-8.77%
December 31
TOTAL
LAIBILITIES AND
EQUITY
6.09%
45.84%
8.60%
60.52%
100.00%
% CHANGE
2011*
38.32%
2,000,000,000
303.00%
5,168,821,728
82.33%
2,142,817,242
195.37%
9,311,638,970
172.45% 16,679,676,291
TOTAL
LAIBILITIES AND
EQUITY
% CHANGE
11.99%
30.99%
12.85%
55.83%
100.00%
37.93%
100.00%
258.44%
354.71%
64.76%
2010*
TOTAL ASSETS
1,837,943,774
23,792,400
241,580,625
2,934,251,679
378,343,613
5,415,912,091
18.15%
0.24%
2.39%
28.98%
0.00%
3.74%
53.50%
4,145,507,632
165,286,533
397,011,879
4,707,806,044
10,123,718,135
0.00%
40.95%
1.63%
0.00%
3.92%
46.50%
100.00%
% CHANGE
61.78%
93.43%
-62.56%
54.09%
-100.00%
77.21%
-45.38%
5,006,982,756
2,092,330,000
102,181,682
30,932,358
-
49.46%
20.67%
1.01%
0.31%
0.00%
296,627,690
7,529,054,486
0.00%
2.93%
74.37%
507,609,692
5.01%
59.63%
0.00%
0.00%
0.00%
0.00%
1,136,100,000
12,300,000
645,300,000
1,904,300,000
6,004,200,000
213,500,000
9,915,700,000
0.00%
91.39%
2,166,000,000
63.33%
101,200,000
0.00%
39.30%
285,000,000
84.46%
2,552,200,000
-18.80% 12,467,900,000
TOTAL
LAIBILITIES AND
EQUITY
% CHANGE
2010*
2009*
32.90%
-65.78%
305.48%
100.00%
-100.00%
2009*
3,767,500,000
6,114,200,000
25,200,000
383,500,000
0.00%
-48.56%
576,600,000
-30.72% 10,867,000,000
318,000,000
-
39,231,522
546,841,214
8,075,895,700
2010*
1,450,000,000
597,822,435
2,047,822,435
10,123,718,135
0.39%
5.40%
79.77%
126.77%
17,300,000
63.09%
335,300,000
-27.91% 11,202,300,000
TOTAL
LAIBILITIES AND
EQUITY
% CHANGE
14.32%
0.00%
5.91%
20.23%
100.00%
2009*
82.14%
796,100,000
0.00%
27.33%
469,500,000
61.81%
1,265,600,000
-18.80% 12,467,900,000
TOTAL ASSETS % CHANGE
9.11%
0.10%
5.18%
15.27%
48.16%
1.71%
79.53%
9.11%
0.10%
5.18%
15.27%
48.16%
1.71%
79.53%
0.00%
17.37%
0.81%
0.00%
2.29%
20.47%
100.00%
0.00%
17.37%
0.81%
0.00%
2.29%
20.47%
100.00%
SALES
% CHANGE
30.22%
49.04%
0.20%
0.00%
3.08%
0.00%
0.00%
4.62%
87.16%
30.22%
49.04%
0.20%
0.00%
3.08%
0.00%
4.62%
87.16%
2.55%
2.55%
0.00%
0.00%
0.00%
0.00%
0.14%
2.69%
89.85%
SALES
6.39%
0.00%
3.77%
10.15%
100.00%
0.14%
2.69%
89.85%
% CHANGE
6.39%
0.00%
3.77%
10.15%
100.00%

PRO FORMA INCOME STATEMENT
Year Ended December

In PHP
NET SALES
COST OF SALES
GROSS PROFIT
OPERATING EXPENSES
Interest expense
Interest Income
Others-net
INCOME TAX EXPENSE
Current
Deferred
NET INCOME
2011A*
38,987,883,405
33,453,130,008
5,534,753,397
1,051,883,532
4,370,772,221
2,215,864,708
2012A
57,466,507,410
48,227,697,388
9,238,810,022
1,667,029,827
7,060,116,430
3,845,723,419
(65,028,007)
25,143,153
28,727,693
2,204,707,547
(74,044,583)
88,964,732
10,919,403
3,871,562,971
714,565,502
(54,852,762)
659,712,740
1,544,994,807
1,292,735,908
(138,711,634)
1,154,024,274
2,717,538,697
EARNINGS PER SHARE

0.97
1.11
** Year ended September 30 2013

PRO FORMA INCOME STATEMENT
Year Ended December

In Millions PHP
NET SALES
COST OF SALES
GROSS PROFIT
OPERATING EXPENSES
Interest expense
Interest Income
Others-net
INCOME TAX EXPENSE
2011A*
38,988
33,453.13
5,534.75
1,051.88
4,370.77
2,215.86
(65.03)
25.14
28.73
2,204.71
-
2012A
57,467
48,227.70
9,238.81
1,667.03
7,060.12
3,845.72
(74.04)
88.96
10.92
3,871.56
-
Current
Deferred
714.57
1,292.74
(54.85)
(138.71)
659.71
1,154.02
NET INCOME
1,544.99
2,717.54

2013F
2014F
68,810,547,400
85,923,730,538
57,747,971,935
72,109,892,555
11,062,575,465
13,813,837,983
1,996,105,908
2,492,537,447
7,094,696,091
10,556,262,579
5,963,985,282
5,750,112,851
2015F
111,700,849,700
93,742,860,322
17,957,989,378
3,240,298,681
13,723,141,352
7,475,146,707
2012
57,466,507,410
48,227,697,388
9,238,810,022
1,667,029,827
7,060,116,430
3,845,723,419
(88,661,179)
106,526,605
13,074,922
5,994,925,630
(110,711,214)
133,019,771
16,326,655
5,788,748,063
(143,924,578)
172,925,702
21,224,652
7,525,372,482
(74,044,583)
88,964,732
10,919,403
3,871,562,971
1,547,925,383
(166,093,676)
1,381,831,707
4,613,093,923
1,932,894,425
(207,401,173)
1,725,493,252
4,063,254,811
2,512,762,753
(269,621,525)
2,243,141,228
5,282,231,255
1,292,735,908
(138,711,634)
1,154,024,274
2,717,538,697
1.66
1.45

2013F
2014F
68,811
85,924
57,747.97
72,109.89
11,062.58
13,813.84
1,996.11
2,492.54
7,094.70
10,556.26
5,963.99
5,750.11
(88.66)
(110.71)
106.53
133.02
13.07
16.33
5,994.93
5,788.75
-
1.87
2015F
111,701
93,742.86
17,957.99
3,240.30
13,723.14
7,475.15
(143.92)
172.93
21.22
7,525.37
-
1.11
2012
57,467
48,228
9,239
1,667
7,060
3,846
(74)
89
11
3,872
1,547.93
(166.09)
1,381.83
4,613.09
1,932.89
(207.40)
1,725.49
4,063.25
2,512.76
(269.62)
2,243.14
5,282.23
1,293
(139)
1,154
2,718
1,000,000.00

SALES
% CHANGE
2011*
SALES % CHANGE
100.00%
47.40%
38,987,883,405 100.00%
33.94%
83.92%
44.16%
33,453,130,008
85.80%
30.79%
16.08%
66.92%
5,534,753,397 14.20%
56.75%
2.90%
58.48%
1,051,883,532
2.70%
34.74%
12.29%
61.53%
4,370,772,221
11.21%
31.40%
6.69%
73.55%
2,215,864,708
5.68%
124.88%
-0.13%
0.15%
0.02%
6.74%
13.87%
253.83%
-61.99%
75.60%
(65,028,007)
25,143,153
28,727,693
2,204,707,547
-0.17%
0.06%
0.07%
5.65%
-70.48%
1076.96%
-218.44%
196.75%
2.25%
-0.24%
2.01%
4.73%
80.91%
152.88%
74.93%
75.89%
714,565,502
(54,852,762)
659,712,740
1,544,994,807
1.83%
-0.14%
1.69%
3.96%
148.31%
-0.61%
183.65%
202.72%
0.97

SALES
% CHANGE
2011*
SALES % CHANGE
100.00%
47.40%
38,988 100.00%
33.94%
83.92%
44.16%
33,453
85.80%
30.79%
16.08%
66.92%
5,535 14.20%
56.75%
2.90%
58.48%
1,052
2.70%
34.74%
12.29%
61.53%
4,371
11.21%
31.40%
6.69%
73.55%
2,216
5.68%
124.88%
-0.13%
0.15%
0.02%
6.74%
13.87%
253.83%
-61.99%
75.60%
(65)
25
29
2,205
-0.17%
0.06%
0.07%
5.65%
-70.48%
1076.96%
-218.44%
196.75%
2.25%
-0.24%
2.01%
4.73%
80.91%
152.88%
74.93%
75.89%
715
(55)
660
1,545
1.83%
-0.14%
1.69%
3.96%
148.31%
-0.61%
183.65%
202.72%
2010*
29,108,004,456
25,577,007,998
3,530,996,458
780,668,193
3,326,329,654
985,334,997
SALES % CHANGE
100.00%
20.72%
87.87%
16.83%
12.13%
59.10%
2.68%
-0.59%
11.43%
30.62%
3.39%
115.05%
2009*
24,112,391,358
21,893,011,892
2,219,379,466
785,285,921
2,546,479,692
458,185,695
PERCENT
100.00%
90.80%
9.20%
3.26%
10.56%
1.90%
(220,264,174)
2,136,283
(24,255,922)
742,951,184
-0.76%
0.01%
-0.08%
2.55%
-24.10%
100.00%
16.02%
293.31%
(290,193,291)
(20,906,114)
188,898,518
-1.20%
0.00%
-0.09%
0.78%
287,772,592
(55,190,037)
232,582,555
510,368,629
0.99%
-0.19%
0.80%
1.75%
212.98%
60.09%
304.68%
288.33%
91,946,742
(34,474,157)
57,472,585
131,425,933
0.38%
-0.14%
0.24%
0.55%
0.40
2010*
29,108
25,577
3,531
781
3,326
985
(220)
2
(24)
743
0.11
SALES % CHANGE
100.00%
20.72%
87.87%
16.83%
12.13%
59.10%
2.68%
-0.59%
11.43%
30.62%
3.39%
115.05%
-0.76%
0.01%
-0.08%
2.55%
-24.10%
100.00%
16.02%
293.31%
2009*
24,112
21,893
2,219
785
2,546
458
(290)
(21)
189
PERCENT
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
288
(55)
233
510
0.99%
-0.19%
0.80%
1.75%
212.98%
60.09%
304.68%
288.33%
92
(34)
57
131
0.00%
0.00%
0.00%
0.00%

In PHP
2011A*
ASSETS
CURRENT ASSETS
Receivables-net

NON CURRENT ASSETS
Investments
Intangibles

TOTAL ASSETS
1,955,167,541
24,000,214
410,357,431
4,522,929,063
536,409,934
7,448,864,183
7,879,160
6,005,557,739
220,139,294
11,370,121
2,985,865,794
9,230,812,108
16,679,676,291
In PHP

CURRENT LIABILITIES
Loans payable
Income tax payable
of debt issue cost
6,234,585,807
186,076,234
21,299,667
8,855,584
177,912,643
6,628,729,935

662,950,406
-

TOTAL LIABILITIES
76,356,980
739,307,386
7,368,037,321
In PHP
EQUITY
Capital stock
Retained Earnings
2,000,000,000
5,168,821,728
2,142,817,242
TOTAL EQUITY
9,311,638,970
16,679,676,291
Retained Earnings
2012A
9,084,325,007
34,946,521
956,866,308
6,611,541,340
7,014,202
688,330,063
17,383,023,441
7,879,160
9,582,936,212
17,432,364,788
1,038,071,790
28,061,251,950
45,444,275,391
SALES
GEOMEAN
2013F
15.81%
-15.20% using interim figure
1.67%
11.51%
10,520,378,189
29,634,481
972,798,947
7,372,201,433
37.33% using interim figure
945,281,476
19,840,294,527
N/A
7,879,160
26.27% using interim figure 12,100,236,787
17,432,364,788
1,038,071,790
30,578,552,525
50,418,847,052
9,286,918,686
508,500,000
438,660,875
8,130,029
237,545,408
16.16%
0.76%
0.01%
0.41%
10,787,738,251
808,500,000
442,009,318.67
8,131,179
238,527,333
43,140,099
253,949,662
10,776,844,759
41,170,323
340,150,014
12,666,226,420
1,120,906,123
1,462,726,336
4,909,071,263
976,419,442
N/A
N/A
4,909,071,263
976,419,442
157,164,520
7,163,561,348
17,940,406,107
198,829,647
7,547,046,688
20,213,273,108
2,766,406,250
20,830,387,095
3,907,075,939
27,503,869,284
45,444,275,391
2,783,317,412
20,830,387,095
7,966,889,862
31,580,594,369
51,793,867,477
N/A
AFN
AFN
7,966,889,862
EFN
Assumptions
40%- N/P
60%- LT Debt
1,375,020,425
2014F
2015F
2012
12,183,443,146
25,129,897
988,996,879
8,220,375,731
1,298,152,030
22,716,097,682
14,109,405,976
21,310,031
1,005,464,519
9,166,132,771
1,782,748,035
26,085,061,333
9,084,325,007
34,946,521
956,866,308
6,611,541,340
7,014,202
688,330,063
17,383,023,441
19.99%
0.08%
2.11%
14.55%
0.02%
1.51%
38.25%
7,879,160
15,278,796,296
17,432,364,788
1,038,071,790
33,757,112,034
56,473,209,716
7,879,160
19,292,318,024
17,432,364,788
1,038,071,790
37,770,633,762
63,855,695,094
7,879,160
9,582,936,212
17,432,364,788
1,038,071,790
28,061,251,950
45,444,275,391
0.02%
21.09%
0.00%
38.36%
2.28%
61.75%
100.00%
2012
TOTAL ASSETS
TOTAL
LAIBILITIES AND
EQUITY
12,531,098,906
1,285,491,150
445,383,322
8,132,330
239,513,318
14,556,196,686
2,043,893,009
448,783,080
8,133,480
240,503,378
9,286,918,686
508,500,000
438,660,875
8,130,029
237,545,408
20.44%
1.12%
0.97%
0.02%
0.52%
40,776,691
455,610,104
15,006,005,821
40,360,465
610,261,822
17,948,131,920
43,140,099
253,949,662
10,776,844,759
0.09%
0.56%
23.71%
1,908,784,590
2,490,868,264
1,120,906,123
2.47%
4,909,071,263
976,419,442
4,909,071,263
976,419,442
4,909,071,263
976,419,442
10.80%
2.15%
251,540,415
8,045,815,709
23,051,821,530
318,225,079
8,694,584,049
26,642,715,968
157,164,520
7,163,561,348
17,940,406,107
2012
2,800,331,953
20,830,387,095
11,476,864,674
35,107,583,721
58,159,405,251
2,817,450,504
20,830,387,095
16,205,815,928
39,853,653,527
66,496,369,496
1,686,195,535
2,640,674,402
2,766,406,250
20,830,387,095
3,907,075,939
27,503,869,284
45,444,275,391
0.35%
15.76%
39.48%
TOTAL
LAIBILITIES AND
EQUITY
6.09%
45.84%
8.60%
60.52%
100.00%
% CHANGE
364.63%
45.61%
133.18%
46.18%
100.00%
28.32%
133.36%
December 31
TOTAL ASSETS
2011*
1,955,167,541
24,000,214
410,357,431
4,522,929,063
536,409,934
7,448,864,183
11.72%
0.14%
2.46%
27.12%
0.00%
3.22%
44.66%
0.00%
7,879,160
59.57%
6,005,557,739
-100.00%
220,139,294
153217.32%
11,370,121
-65.23%
2,985,865,794
204.00%
9,230,812,108
172.45% 16,679,676,291
0.05%
36.01%
1.32%
0.07%
17.90%
55.34%
100.00%
% CHANGE
6.38%
0.87%
69.86%
54.14%
0.00%
41.78%
37.54%
2010*
1,837,943,774
23,792,400
241,580,625
2,934,251,679
378,343,613
5,415,912,091
100.00%
44.87%
4,145,507,632
33.19%
165,286,533
100.00%
652.08%
397,011,879
96.07%
4,707,806,044
64.76% 10,123,718,135
December 31
% CHANGE
TOTAL
LAIBILITIES AND
EQUITY
% CHANGE
2011*
2010*
48.96%
100.00%
135.74%
-61.83%
2582.44%
6,234,585,807
186,076,234
21,299,667
8,855,584
37.38%
0.00%
1.12%
0.13%
0.05%
24.52%
-100.00%
82.10%
-31.14%
100.00%
5,006,982,756
2,092,330,000
102,181,682
30,932,358
-
100.00%
42.74%
62.58%
177,912,643
6,628,729,935
0.00%
1.07%
39.74%
0.00%
-40.02%
-11.96%
296,627,690
7,529,054,486
69.08%
662,950,406
3.97%
30.60%
507,609,692
0.00%
0.00%
0.00%
0.00%
100.00%
100.00%
105.83%
868.96%
143.49%
76,356,980
739,307,386
7,368,037,321
0.46%
4.43%
44.17%
94.63%
35.20%
-8.77%
39,231,522
546,841,214
8,075,895,700
December 31
% CHANGE
2011*
38.32%
2,000,000,000
303.00%
5,168,821,728
82.33%
2,142,817,242
195.37%
9,311,638,970
172.45% 16,679,676,291
TOTAL
LAIBILITIES AND
EQUITY
% CHANGE
11.99%
30.99%
12.85%
55.83%
100.00%
2010*
37.93%
1,450,000,000
100.00%
258.44%
597,822,435
354.71%
2,047,822,435
64.76% 10,123,718,135
TOTAL ASSETS
18.15%
0.24%
2.39%
28.98%
0.00%
3.74%
53.50%
0.00%
40.95%
1.63%
0.00%
3.92%
46.50%
100.00%
% CHANGE
61.78%
93.43%
-62.56%
54.09%
-100.00%
77.21%
-45.38%
0.00%
2.93%
74.37%
TOTAL ASSETS % CHANGE
1,136,100,000
12,300,000
645,300,000
1,904,300,000
6,004,200,000
213,500,000
9,915,700,000
9.11%
0.10%
5.18%
15.27%
48.16%
1.71%
79.53%
9.11%
0.10%
5.18%
15.27%
48.16%
1.71%
79.53%
0.00%
91.39%
2,166,000,000
63.33%
101,200,000
0.00%
39.30%
285,000,000
84.46%
2,552,200,000
-18.80% 12,467,900,000
0.00%
17.37%
0.81%
0.00%
2.29%
20.47%
100.00%
0.00%
17.37%
0.81%
0.00%
2.29%
20.47%
100.00%
TOTAL
LAIBILITIES AND
EQUITY
% CHANGE
49.46%
20.67%
1.01%
0.31%
0.00%
2009*
32.90%
-65.78%
305.48%
100.00%
-100.00%
TOTAL
LAIBILITIES
AND EQUITY
2009*
3,767,500,000
6,114,200,000
25,200,000
383,500,000
0.00%
-48.56%
576,600,000
-30.72% 10,867,000,000
5.01%
59.63%
0.00%
0.00%
0.00%
0.00%
318,000,000
-
% CHANGE
30.22%
49.04%
0.20%
0.00%
3.08%
0.00%
0.00%
4.62%
87.16%
30.22%
49.04%
0.20%
0.00%
3.08%
0.00%
4.62%
87.16%
2.55%
2.55%
0.00%
0.00%
0.00%
0.00%
0.39%
5.40%
79.77%
126.77%
17,300,000
63.09%
335,300,000
-27.91% 11,202,300,000
TOTAL
LAIBILITIES AND
EQUITY
% CHANGE
14.32%
0.00%
5.91%
20.23%
100.00%
2009*
82.14%
796,100,000
0.00%
27.33%
469,500,000
61.81%
1,265,600,000
-18.80% 12,467,900,000
0.14%
2.69%
89.85%
TOTAL
LAIBILITIES
AND EQUITY
6.39%
0.00%
3.77%
10.15%
100.00%
0.14%
2.69%
89.85%
% CHANGE
6.39%
0.00%
3.77%
10.15%
100.00%

2012
NET SALES
GROSS PROFIT
OPERATING EXPENSES
NET INCOME
57,466,507,410
9,238,810,022
7,060,116,430
2,717,538,697
TOTAL ASSETS
TOTAL LIABILITIES
TOTAL EQUITY
45,444,275,391
17,940,406,107
27,503,869,284

1.11
70,000,000,000
60,000,000,000
57,466,507,410
47.40%
50,000,000,000
40,000,000,000
30,000,000,000
20,000,000,000
10,000,000,000
38,987,883,405
29,108,004,456
50,000,000,000
38,987,883,405
40,000,000,000
29,108,004,456
30,000,000,000
20,000,000,000
10,000,000,000
-
2012
50,000,000,000
45,000,000,000
2011*
2010*
45,444,275,391
40,000,000,000
35,000,000,000
30,000,000,000
25,000,000,000
20,000,000,000
16,679,676,291
15,000,000,000
10,123,718,135
10,000,000,000
5,000,000,000
-
30,000,000,000
2012
2011*
2010*
27,503,869,284
25,000,000,000
20,000,000,000
15,000,000,000
9,311,638,970
10,000,000,000
5,000,000,000
-
2,047,822,435
2012
2011*
TOTAL EQUITY
2010*

2011*
8,000,000,000
2010*
7,000,000,000
38,987,883,405
5,534,753,397
4,370,772,221
1,544,994,807
29,108,004,456
3,530,996,458
3,326,329,654
510,368,629
6,000,000,000
16,679,676,291
7,368,037,321
9,311,638,970
10,123,718,135
8,075,895,700
2,047,822,435
2,000,000,000
0.97
7,060,116,430
5,000,000,000
4,370,772,2
4,000,000,000
3,000,000,000
1,000,000,000
-
2012
2011*
0.40
in May 2012
3,000,000,000
2,717,538,697
2,500,000,000
33
.94
%
2,000,000,000
1,544,994,8
87,883,405
1,500,000,000
29,108,004,456
1,000,000,000
500,000,000
2,000,000,000
1,544,994,8
87,883,405
1,500,000,000
29,108,004,456
1,000,000,000
500,000,000
-
2011*
2012
NET INCOME
2010*
20,000,000,000
18,000,000,000
2011*
17,940,406,107
16,000,000,000
14,000,000,000
12,000,000,000
10,000,000,000
7,368,03
8,000,000,000
679,676,291
6,000,000,000
10,123,718,135
4,000,000,000
2,000,000,000
-
2011*
2010*
2011*
2,047,822,435
2010*
201
TOTAL LAIBILITIES
10,000,000,000
9,000,000,000
8,000,000,000
7,000,000,000
6,000,000,000
5,000,000,000
4,000,000,000
3,000,000,000
2,000,000,000
1,000,000,000
-
1,638,970
2012
9,238,810,022
5,53
2012
,430
61.5
3
31
.4
0%
4,370,772,221
3,326,329,654
2011*
2010*
697
1,544,994,807
510,368,629
1,544,994,807
510,368,629
NET INCOME
2011*
2010*
06,107
7,368,037,321
2011*
8,075,895,700
2010*
TOTAL LAIBILITIES
238,810,022
66.
92%
5,534,753,397
56.
75%
3,530,996,458
2012
2011*
2010*

December
In PHP
2012
ASSETS
CURRENT ASSETS
Receivables-net

NON CURRENT ASSETS
Investments
Intangibles

TOTAL ASSETS
9,084,325,007
34,946,521
956,866,308
6,611,541,340
7,014,202
688,330,063
17,383,023,441
7,879,160
9,582,936,212
17,432,364,788
1,038,071,790
28,061,251,950
45,444,275,391

CURRENT LIABILITIES
Loans payable
Income tax payable
of debt issue cost
9,286,918,686
508,500,000
438,660,875
8,130,029
237,545,408
43,140,099
253,949,662
10,776,844,759


TOTAL LIABILITIES
1,120,906,123
4,909,071,263
976,419,442
157,164,520
7,163,561,348
17,940,406,107
EQUITY
Capital stock
2,766,406,250

Retained Earnings
20,830,387,095
3,907,075,939
TOTAL EQUITY
27,503,869,284
45,444,275,391
CURRENT RATIO
2012
1.61
Current Assets
17,383,023,441
Current Liabilities
10,776,844,759
QUICK RATIO
1.00
(Current Assets- Inventory)
10,771,482,101
Current Liabilities
10,776,844,759
CASH RATIO
Cash + Cash Equivalents+ Marketable Securities
Current Liabilities
ASSET TO EQUITY RATIO

Total Assets
Total Equity
DEBT TO EQUITY RATIO
0.85
9,119,271,528
10,776,844,759
1.65
45,444,275,391
27,503,869,284
0.65
Total Liabilities
Total Equity
NET DEBT TO EQUITY RATIO
Net Debt
Total Equity
EQUITY TO DEBT RATIO
Total Equity
Total Liabilities
17,940,406,107
27,503,869,284
0.32
8,856,081,100
27,503,869,284
1.53
27,503,869,284
17,940,406,107
December 31
2011*
2010*
1,955,167,541
24,000,214
410,357,431
4,522,929,063
536,409,934
7,448,864,183
1,837,943,774
23,792,400
241,580,625
2,934,251,679
378,343,613
5,415,912,091
7,879,160
6,005,557,739
220,139,294
11,370,121
2,985,865,794
9,230,812,108
16,679,676,291
4,145,507,632
165,286,533
397,011,879
4,707,806,044
10,123,718,135
6,234,585,807
186,076,234
21,299,667
8,855,584
5,006,982,756
2,092,330,000
102,181,682
30,932,358
-
177,912,643
6,628,729,935
296,627,690
7,529,054,486
662,950,406
507,609,692
76,356,980
739,307,386
7,368,037,321
39,231,522
546,841,214
8,075,895,700
2,000,000,000
1,450,000,000
2009*
1,136,100,000
12,300,000
645,300,000
1,904,300,000
6,004,200,000
213,500,000
9,915,700,000
###
2,166,000,000
101,200,000
###
285,000,000
2,552,200,000
12,467,900,000
3,767,500,000
6,114,200,000
25,200,000
383,500,000
###
576,600,000
10,867,000,000
318,000,000
###
###
17,300,000
335,300,000
11,202,300,000
796,100,000
5,168,821,728
2,142,817,242
9,311,638,970
16,679,676,291
2011
1.12
597,822,435
2,047,822,435
10,123,718,135
2010
0.72
7,448,864,183
5,415,912,091
6,628,729,935
7,529,054,486
0.44
0.33
2,925,935,120
2,481,660,412
6,628,729,935
7,529,054,486
0.30
1,979,167,755
6,628,729,935
1.79
16,679,676,291
9,311,638,970
0.79
0.25
1,861,736,174
7,529,054,486
4.94
10,123,718,135
2,047,822,435
3.94
###
469,500,000
1,265,600,000
12,467,900,000
7,368,037,321
9,311,638,970
0.58
5,412,869,780
9,311,638,970
1.26
9,311,638,970
7,368,037,321
8,075,895,700
2,047,822,435
3.05
6,237,951,926
2,047,822,435
0.25
2,047,822,435
8,075,895,700
LIQUIDITY RATIOS- Measures the ability of the company to

repay short term liabilities when they come due.
2012
2011
2010
CURRENT RATIO
1.61
1.12
0.72
QUICK RATIO
1.00
0.44
0.33
CASH RATIO
0.85
0.30
0.25

December
In PHP
2012
ASSETS
CURRENT ASSETS
Receivables-net

NON CURRENT ASSETS
Investments
Intangibles

TOTAL ASSETS
9,084,325,007
34,946,521
956,866,308
6,611,541,340
7,014,202
688,330,063
17,383,023,441
7,879,160
9,582,936,212
17,432,364,788
1,038,071,790
28,061,251,950
45,444,275,391

CURRENT LIABILITIES
Loans payable
Income tax payable
of debt issue cost
9,286,918,686
508,500,000
438,660,875
8,130,029
237,545,408
43,140,099
253,949,662
10,776,844,759


TOTAL LIABILITIES
1,120,906,123
4,909,071,263
976,419,442
157,164,520
7,163,561,348
17,940,406,107
EQUITY
Capital stock
2,766,406,250

Retained Earnings
20,830,387,095
3,907,075,939
TOTAL EQUITY
27,503,869,284
45,444,275,391
LIQUIDITY RATIOS
CURRENT RATIO
2012
1.61
Current Assets
17,383,023,441
Current Liabilities
10,776,844,759
QUICK RATIO
1.00
(Current Assets- Inventory)
10,771,482,101
Current Liabilities
10,776,844,759
CASH RATIO
Cash + Cash Equivalents+ Marketable Securities
Current Liabilities
CFO RATIO
CFO
Average Current Liabilities
0.85
9,119,271,528
10,776,844,759
0.47
4,133,165,006
8,702,787,347
ACTIVITY RATIOS
RECEIVABLES TURNOVER
Net Sales
Average Net Trade Receivables
INVENTORY TURNOVER
Cost of Goods Sold
Average Total Inventory
DAYS OF SALES OUTSTANDING
365
Receivables Turnover
TOTAL ASSETS TURNOVER
Revenue
Average Total Assets
FIXED ASSETS TURNOVER
2012
84.06
57,466,507,410
683,611,870
8.66
48,227,697,388
5,567,235,202
4.34
365
84.06
1.85
57,466,507,410
31,061,975,841
7.37
Revenue
Average Net Fixed Assets
WORKING CAPITAL TURNOVER
Revenue
Average Working Capital
SOLVENCY RATIOS
Total Liabilities
Total Equity
DEBT RATIO
Total Liabilities
Total Assets
FINANCIAL LEVERAGE RATIO
57,466,507,410
7,794,246,975.50
4.21
57,466,507,410
13,644,975,741
2012
0.65
17,940,406,107
27,503,869,284
0.39
17,940,406,107
45,444,275,391
2.45

Average Total Equity
31,061,975,841
12,654,221,714
TIMES INTEREST EARNED

EBIT
Interest Expense
Total Liabilities
51.94
3,845,723,419
74,044,583
17,940,406,107
December 31
2011*
2010*
1,955,167,541
24,000,214
410,357,431
4,522,929,063
536,409,934
7,448,864,183
1,837,943,774
23,792,400
241,580,625
2,934,251,679
378,343,613
5,415,912,091
7,879,160
6,005,557,739
220,139,294
11,370,121
2,985,865,794
9,230,812,108
16,679,676,291
4,145,507,632
165,286,533
397,011,879
4,707,806,044
10,123,718,135
6,234,585,807
186,076,234
21,299,667
8,855,584
5,006,982,756
2,092,330,000
102,181,682
30,932,358
-
177,912,643
6,628,729,935
296,627,690
7,529,054,486
662,950,406
507,609,692
76,356,980
739,307,386
7,368,037,321
39,231,522
546,841,214
8,075,895,700
2,000,000,000
1,450,000,000
2009*
1,136,100,000
12,300,000
645,300,000
1,904,300,000
6,004,200,000
213,500,000
9,915,700,000
###
2,166,000,000
101,200,000
###
285,000,000
2,552,200,000
12,467,900,000
3,767,500,000
6,114,200,000
25,200,000
383,500,000
###
576,600,000
10,867,000,000
318,000,000
###
###
17,300,000
335,300,000
11,202,300,000
796,100,000
5,168,821,728
2,142,817,242
9,311,638,970
16,679,676,291
2011
1.12
597,822,435
2,047,822,435
10,123,718,135
2010
0.72
7,448,864,183
5,415,912,091
6,628,729,935
7,529,054,486
0.44
0.33
2,925,935,120
2,481,660,412
6,628,729,935
7,529,054,486
0.30
1,979,167,755
6,628,729,935
0.19
0.25
1,861,736,174
7,529,054,486
0.12
1,357,874,842
7,078,892,211
1,102,378,087
9,198,027,243
2011
119.61
38,987,883,405
325,969,028
2010
65.64
29,108,004,456
443,440,313
8.97
33,453,130,008
3,728,590,371
3.05
365
119.61
2.91
38,987,883,405
13,401,697,213
7.68
10.57
25,577,007,998
2,419,275,840
5.56
365
65.64
2.58
29,108,004,456
11,295,809,068
9.22
###
469,500,000
1,265,600,000
12,467,900,000
38,987,883,405
5,075,532,685.50
5.35
38,987,883,405
7,292,617,537
2011
0.79
7,368,037,321
9,311,638,970
0.44
7,368,037,321
16,679,676,291
1.74
29,108,004,456
3,155,753,816.00
3.52
29,108,004,456
8,278,207,605
2010
3.94
8,075,895,700
2,047,822,435
0.80
8,075,895,700
10,123,718,135
1.17
13,401,697,213
7,721,966,511
11,295,809,068
9,639,097,850
34.08
2,215,864,708
65,028,007
7,368,037,321
4.47
985,334,997
220,264,174
8,075,895,700
LIQUIDITY RATIOS- Measures the ability of the company to repay short

term liabilities when they come due.
2012
2011
2010
CURRENT RATIO
1.61
1.12
0.72
QUICK RATIO
1.00
0.44
0.33
CASH RATIO
0.85
0.30
0.25
CFO RATIO
0.47
0.19
0.12
ACTIVITY RATIOS- Measures how efficient the company is in managing its

assets.
2012
2011
2010
RECEIVABLES TURNOVER
INVENTORY TURNOVER
DAYS OF SALES OUTSTANDING
TOTAL ASSETS TURNOVER
FIXED ASSETS TURNOVER
WORKING CAPITAL TURNOVER
84.06
8.66
4.34
1.85
7.37
4.21
119.61
8.97
3.05
2.91
7.68
5.35
65.64
10.57
5.56
2.58
9.22
3.52
SOLVENCY RATIOS- the company's ability to settle its long term

obligations
2012
2011
2010
DEBT RATIO
FINANCIAL LEVERAGE RATIO
TIMES INTEREST EARNED
ASSET TO EQUITY RATIO
EQUITY TO DEBT RATIO
0.39
0.65
2.45
51.94
1.65
1.53
0.44
0.79
1.74
34.08
1.79
1.26
0.80
3.94
1.17
4.47
4.94
0.25

D
In PHP
2012
PERCENT
ASSETS
CURRENT ASSETS
Receivables-net

NON CURRENT ASSETS
Investments
Intangibles

TOTAL ASSETS
9,084,325,007
34,946,521
956,866,308
6,611,541,340
7,014,202
688,330,063
17,383,023,441
19.99%
0.08%
2.11%
14.55%
0.02%
1.51%
38.25%
7,879,160
9,582,936,212
17,432,364,788
1,038,071,790
28,061,251,950
45,444,275,391
0.02%
21.09%
0.00%
38.36%
2.28%
61.75%
100.00%
9,286,918,686
508,500,000
438,660,875
8,130,029
237,545,408
20.44%
1.12%
0.97%
0.02%
0.52%
43,140,099
253,949,662
10,776,844,759
0.09%
0.56%
23.71%
1,120,906,123
2.47%
4,909,071,263
976,419,442
157,164,520
7,163,561,348
17,940,406,107
10.80%
2.15%
0.35%
15.76%
39.48%
2,766,406,250
6.09%

CURRENT LIABILITIES
Loans payable
Income tax payable
of debt issue cost


TOTAL LIABILITIES
EQUITY
Capital stock

Retained Earnings
20,830,387,095
3,907,075,939
TOTAL EQUITY
27,503,869,284
45,444,275,391
45.84%
8.60%
60.52%
100.00%
December 31
2011*
PERCENT
1,955,167,541
24,000,214
410,357,431
4,522,929,063
536,409,934
7,448,864,183
7,879,160
6,005,557,739
220,139,294
11,370,121
2,985,865,794
9,230,812,108
16,679,676,291
11.72%
0.14%
2.46%
27.12%
0.00%
3.22%
44.66%
2010*
1,837,943,774
23,792,400
241,580,625
2,934,251,679
378,343,613
5,415,912,091
0.05%
36.01%
4,145,507,632
1.32%
165,286,533
0.07%
17.90%
397,011,879
55.34%
4,707,806,044
100.00% 10,123,718,135
6,234,585,807
186,076,234
21,299,667
8,855,584
37.38%
0.00%
1.12%
0.13%
0.05%
5,006,982,756
2,092,330,000
102,181,682
30,932,358
-
177,912,643
6,628,729,935
0.00%
1.07%
39.74%
296,627,690
7,529,054,486
662,950,406
3.97%
507,609,692
76,356,980
739,307,386
7,368,037,321
0.00%
0.00%
0.46%
4.43%
44.17%
39,231,522
546,841,214
8,075,895,700
2,000,000,000
11.99%
1,450,000,000
PERCENT
18.15%
0.24%
2.39%
28.98%
0.00%
3.74%
53.50%
2009*
1,136,100,000
12,300,000
645,300,000
1,904,300,000
6,004,200,000
213,500,000
9,915,700,000
0.00%
40.95%
2,166,000,000
1.63%
101,200,000
0.00%
3.92%
285,000,000
46.50%
2,552,200,000
100.00% 12,467,900,000
49.46%
20.67%
1.01%
0.31%
0.00%
3,767,500,000
6,114,200,000
25,200,000
383,500,000
0.00%
2.93%
576,600,000
74.37% 10,867,000,000
5.01%
318,000,000
0.00%
0.00%
0.39%
17,300,000
5.40%
335,300,000
79.77% 11,202,300,000
14.32%
796,100,000
5,168,821,728
2,142,817,242
9,311,638,970
16,679,676,291
30.99%
12.85%
597,822,435
55.83%
2,047,822,435
100.00% 10,123,718,135
0.00%
5.91%
469,500,000
20.23%
1,265,600,000
100.00% 12,467,900,000
PERCENT
9.11%
0.10%
5.18%
15.27%
48.16%
1.71%
79.53%
0.00%
17.37%
0.81%
0.00%
2.29%
20.47%
100.00%
30.22%
49.04%
0.20%
0.00%
3.08%
0.00%
4.62%
87.16%
2.55%
0.00%
0.00%
0.14%
2.69%
89.85%
6.39%
0.00%
3.77%
10.15%
100.00%

In PHP
2012
ASSETS
CURRENT ASSETS
Receivables-net

NON CURRENT ASSETS
Investments
Intangibles

TOTAL ASSETS
9,084,325,007
34,946,521
956,866,308
6,611,541,340
7,014,202
688,330,063
17,383,023,441
7,879,160
9,582,936,212
17,432,364,788
1,038,071,790
28,061,251,950
45,444,275,391

CURRENT LIABILITIES
Loans payable
Income tax payable
of debt issue cost
9,286,918,686
508,500,000
438,660,875
8,130,029
237,545,408
43,140,099
253,949,662
10,776,844,759


TOTAL LIABILITIES
1,120,906,123
4,909,071,263
976,419,442
157,164,520
7,163,561,348
17,940,406,107
EQUITY
Capital stock
2,766,406,250

Retained Earnings
20,830,387,095
3,907,075,939
TOTAL EQUITY
27,503,869,284
45,444,275,391
2011*
December 31
AMOUNT
1,955,167,541
24,000,214
410,357,431
4,522,929,063
536,409,934
7,448,864,183
7,879,160
6,005,557,739
220,139,294
11,370,121
2,985,865,794
9,230,812,108
16,679,676,291
6,234,585,807
186,076,234
21,299,667
8,855,584
7,129,157,466
10,946,307
546,508,877
2,088,612,277
7,014,202
151,920,129
9,934,159,258
PERCENT
2010*
364.63%
45.61%
133.18%
46.18%
100.00%
28.32%
133.36%
1,837,943,774
23,792,400
241,580,625
2,934,251,679
378,343,613
5,415,912,091
0.00%
3,577,378,473
59.57%
(220,139,294)
-100.00%
17,420,994,667 153217.32%
(1,947,794,004)
-65.23%
###
204.00%
###
172.45%
4,145,507,632
165,286,533
397,011,879
4,707,806,044
10,123,718,135
3,052,332,879
508,500,000
252,584,641
(13,169,638)
228,689,824
48.96%
100.00%
135.74%
-61.83%
2582.44%
5,006,982,756
2,092,330,000
102,181,682
30,932,358
-
177,912,643
6,628,729,935
43,140,099
76,037,019
4,148,114,824
100.00%
42.74%
62.58%
296,627,690
7,529,054,486
662,950,406
457,955,717
69.08%
507,609,692
100.00%
100.00%
105.83%
868.96%
143.49%
39,231,522
546,841,214
8,075,895,700
38.32%
1,450,000,000
76,356,980
739,307,386
7,368,037,321
2,000,000,000
4,909,071,263
976,419,442
80,807,540
6,424,253,962
###
766,406,250
5,168,821,728
2,142,817,242
9,311,638,970
16,679,676,291
15,661,565,367
1,764,258,697
###
###
303.00%
82.33%
195.37%
172.45%
597,822,435
2,047,822,435
10,123,718,135
AMOUNT
PERCENT
2009*
AMOUNT
117,223,767
207,814
168,776,806
1,588,677,384
158,066,321
2,032,952,092
6.38%
0.87%
69.86%
54.14%
0
41.78%
37.54%
1,136,100,000
12,300,000
645,300,000
1,904,300,000
6,004,200,000
213,500,000
9,915,700,000
701,843,774
11,492,400
(403,719,375)
1,029,951,679
(6,004,200,000)
164,843,613
###
7,879,160
1,860,050,107
54,852,761
11,370,121
2,588,853,915
4,523,006,064
6,555,958,156
0.00%
44.87%
33.19%
100%
652.08%
96.07%
64.76%
2,166,000,000
101,200,000
285,000,000
2,552,200,000
12,467,900,000
1,979,507,632
64,086,533
112,011,879
2,155,606,044
###
1,227,603,051
(2,092,330,000)
83,894,552
(9,632,691)
8,855,584
24.52%
-100.00%
82.10%
-31.14%
100.00%
3,767,500,000
6,114,200,000
25,200,000
383,500,000
1,239,482,756
(4,021,870,000)
76,981,682
30,932,358
(383,500,000)
(118,715,047)
(900,324,551)
0.00%
-40.02%
-11.96%
576,600,000
10,867,000,000
(279,972,310)
###
30.60%
318,000,000
0.00%
0.00%
94.63%
35.20%
-8.77%
17,300,000
335,300,000
11,202,300,000
37.93%
796,100,000
155,340,714
37,125,458
192,466,172
(707,858,379)
550,000,000
189,609,692
21,931,522
211,541,214
###
653,900,000
5,168,821,728
1,544,994,807
7,263,816,535
6,555,958,156
0.00%
258.44%
354.71%
64.76%
469,500,000
1,265,600,000
12,467,900,000
128,322,435
782,222,435
###
PERCENT
61.78%
93.43%
-62.56%
54.09%
0.00%
77.21%
-45.38%
0.00%
91.39%
63.33%
0.00%
39.30%
84.46%
-18.80%
32.90%
-65.78%
305.48%
100.00%
100.00%
0.00%
-48.56%
-30.72%
59.63%
0.00%
0.00%
126.77%
63.09%
-27.91%
82.14%
0.00%
27.33%
61.81%
-18.80%


In PHP
NET SALES
COST OF SALES
GROSS PROFIT
OPERATING EXPENSES
Interest expense
Interest Income
Others-net
INCOME TAX EXPENSE
Current
Deferred
NET INCOME
2012
57,466,507,410
48,227,697,388
9,238,810,022
1,667,029,827
7,060,116,430
3,845,723,419
(74,044,583)
88,964,732
10,919,403
3,871,562,971
1,292,735,908
(138,711,634)
1,154,024,274
2,717,538,697
EARNINGS PER SHARE

1.11
PROFITABILITY RATIOS
NET PROFIT MARGIN
Net Income
Net Sales
OPERATING PROFIT MARGIN
Operating Profit
Net Sales
GROSS PROFIT MARGIN
Gross Profit
Net Sales
RETURN ON ASSETS
Net Income
RETURN ON EQUITY
2012
4.73%
2,717,538,697
57,466,507,410
6.69%
3,845,723,419
57,466,507,410
16.08%
9,238,810,022
57,466,507,410
5.98%
2,717,538,697
45,444,275,391
14.76%
Net Income
Average Shareholder's Equity
2,717,538,697
18,407,754,127

2011*
2010*
38,987,883,405
29,108,004,456
33,453,130,008
25,577,007,998
5,534,753,397
3,530,996,458
1,051,883,532
780,668,193
4,370,772,221
3,326,329,654
2,215,864,708
985,334,997
2009*
24,112,391,358
21,893,011,892
2,219,379,466
785,285,921
2,546,479,692
458,185,695
(65,028,007)
25,143,153
28,727,693
2,204,707,547
(220,264,174)
2,136,283
(24,255,922)
742,951,184
(290,193,291)
(20,906,114)
188,898,518
714,565,502
(54,852,762)
659,712,740
1,544,994,807
287,772,592
(55,190,037)
232,582,555
510,368,629
91,946,742
(34,474,157)
57,472,585
131,425,933
0.97
0.40
0.11
2011
3.96%
1,544,994,807
38,987,883,405
5.68%
2,215,864,708
38,987,883,405
14.20%
5,534,753,397
38,987,883,405
9.26%
1,544,994,807
16,679,676,291
27.20%
2010
1.75%
510,368,629
29,108,004,456
3.39%
985,334,997
29,108,004,456
12.13%
3,530,996,458
29,108,004,456
5.04%
510,368,629
10,123,718,135
30.81%
1,544,994,807
5,679,730,703
510,368,629
1,656,711,218
PROFITABILITY RATIOS- Measures how well the company utilizes

its resources to generate profit and increase shareholder value.
2012
2011
2010
GROSS PROFIT MARGIN
OPERATING PROFIT MARGIN
NET PROFIT MARGIN
RETURN ON ASSETS
16.08%
6.69%
4.73%
5.98%
14.20%
5.68%
3.96%
9.26%
12.13%
3.39%
1.75%
5.04%
RETURN ON EQUITY
14.76%
27.20%
30.81%

Year End
In PHP
NET SALES
COST OF SALES
GROSS PROFIT
OPERATING EXPENSES
Interest expense
Interest Income
Others-net
INCOME TAX EXPENSE
Current
Deferred
NET INCOME
2012
PERCENT
57,466,507,410
100.00%
48,227,697,388
83.92%
9,238,810,022
16.08%
1,667,029,827
2.90%
7,060,116,430
12.29%
3,845,723,419
6.69%
(74,044,583)
88,964,732
10,919,403
3,871,562,971
-0.13%
0.15%
0.02%
6.74%
1,292,735,908
(138,711,634)
1,154,024,274
2,717,538,697
2.25%
-0.24%
2.01%
4.73%
EARNINGS PER SHARE

1.11

2011*
PERCENT
38,987,883,405
100.00%
33,453,130,008
85.80%
5,534,753,397
14.20%
1,051,883,532
2.70%
4,370,772,221
11.21%
2,215,864,708
5.68%
2010*
PERCENT
29,108,004,456
100.00%
25,577,007,998
87.87%
3,530,996,458
12.13%
780,668,193
2.68%
3,326,329,654
11.43%
985,334,997
3.39%
2009*
24,112,391,358
21,893,011,892
2,219,379,466
785,285,921
2,546,479,692
458,185,695
(65,028,007)
25,143,153
28,727,693
2,204,707,547
-0.17%
0.06%
0.07%
5.65%
(220,264,174)
2,136,283
(24,255,922)
742,951,184
-0.76%
0.01%
-0.08%
2.55%
(290,193,291)
(20,906,114)
188,898,518
714,565,502
(54,852,762)
659,712,740
1,544,994,807
1.83%
-0.14%
1.69%
3.96%
287,772,592
(55,190,037)
232,582,555
510,368,629
0.99%
-0.19%
0.80%
1.75%
91,946,742
(34,474,157)
57,472,585
131,425,933
0.97
0.40
0.11
PERCENT
100.00%
90.80%
9.20%
3.26%
10.56%
1.90%
-1.20%
0.00%
-0.09%
0.78%
0.38%
-0.14%
0.24%
0.55%

In PHP
NET SALES
COST OF SALES
GROSS PROFIT
OPERATING EXPENSES
Interest expense
Interest Income
Others-net
INCOME TAX EXPENSE
Current
Deferred
NET INCOME
2012
57,466,507,410
48,227,697,388
9,238,810,022
1,667,029,827
7,060,116,430
3,845,723,419
Year Ended Decembe

2011*
38,987,883,405
33,453,130,008
5,534,753,397
1,051,883,532
4,370,772,221
2,215,864,708
(74,044,583)
88,964,732
10,919,403
3,871,562,971
(65,028,007)
25,143,153
28,727,693
2,204,707,547
1,292,735,908
(138,711,634)
1,154,024,274
2,717,538,697
714,565,502
(54,852,762)
659,712,740
1,544,994,807
EARNINGS PER SHARE

1.11
0.97

AMOUNT
PERCENT
18,478,624,005
47.40%
14,774,567,380
44.16%
3,704,056,625
66.92%
615,146,295
58.48%
2,689,344,209
61.53%
1,629,858,711
73.55%
2010*
29,108,004,456
25,577,007,998
3,530,996,458
780,668,193
3,326,329,654
985,334,997
AMOUNT
9,879,878,949
7,876,122,010
2,003,756,939
271,215,339
1,044,442,567
1,230,529,711
PERCENT
33.94%
30.79%
56.75%
34.74%
31.40%
124.88%
(9,016,576)
63,821,579
(17,808,290)
1,666,855,424
13.87%
253.83%
-61.99%
75.60%
(220,264,174)
2,136,283
(24,255,922)
742,951,184
155,236,167
23,006,870
52,983,615
1,461,756,363
-70.48%
1076.96%
-218.44%
196.75%
578,170,406
(83,858,872)
494,311,534
1,172,543,890
80.91%
152.88%
74.93%
75.89%
287,772,592
(55,190,037)
232,582,555
510,368,629
426,792,910
337,275
427,130,185
1,034,626,178
148.31%
-0.61%
183.65%
202.72%
0.14
14.43%
0.40
0.57
142.50%
2009*
24,112,391,358
21,893,011,892
2,219,379,466
785,285,921
2,546,479,692
458,185,695
AMOUNT
PERCENT
4,995,613,098
20.72%
3,683,996,106
16.83%
1,311,616,992
59.10%
(4,617,728)
-0.59%
779,849,962
30.62%
527,149,302
115.05%
(290,193,291)
(20,906,114)
188,898,518
69,929,117
2,136,283
(3,349,808)
554,052,666
-24.10%
100.00%
16.02%
293.31%
91,946,742
(34,474,157)
57,472,585
131,425,933
195,825,850
(20,715,880)
175,109,970
378,942,696
212.98%
60.09%
304.68%
288.33%
0.11
0.29
263.64%

CONSOLIDATED STATEMENTS OF CASH FLOW
In PHP
CASH FLOW FROM OPERATING ACTIVITIES

Income before Income tax
Adjustment for:
Depreciation and amortization
Interest expense
Rent
Retirement benefits cost
Loss (gain) on pretermination of lease contract
Impairment losses on receivables
Unrealized valuation gain in trading securities
Unrealized foreign exchange loss
Loss (gain) on disposal of property and equipment
Dividend income
Interest income
Gain on insurance claim
Goodwill written of
Operating income beforechanges in working capital
Decrease (increase) in:
Invetsment in Trading Securities
Receivables
Merchandise Inventory
Increase (decrease) in:
Accounts payable and accrued expenses
Due to related party
Cash generated from operations
Interest received
Interest paid
Income taxes paid
Net cash flow provided by operating activities
CASH FLOW FROM INVESTING ACTIVITIES

Additions to property and equipment
Increase in intangibles
Decrease (increase) in other non current assets
Dividends received
Proceeds from insurance claim
Proceeds from disposal of property and equipment
Net cash provided by (used in) investing activities
CASH FLOW FROM FINANCING ACTIVITIES

Availment of notes payable
Availmeny (payments) of loans payable
Proceeds from issuance and subscription of capital stock
Cash dividends paid
Increase (decrease) in due to related parties
Net cash provided by (used in) financing activities
EFFECTS OF EXCHANGE RATE CHANGES ON CASH

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
CASH AND CASH EQUIVALENTS AT END OF YEAR
OPERATING CASH FLOW/SALES RATIO

Operating Cash Flow
Net Sales
2012

2011*
2010*
3,871,562,971
2,204,707,547
742,951,184
675,492,982
74,044,583
457,955,717
55,213,083
1,940,552
(9,778,303)
1,523
(374,998)
565,125
88,964,732
(202,500)
5,036,325,753
456,974,253
65,028,007
155,340,714
37,125,458
9,000,000
1,407,884
(195,314)
(369,118)
(866,750)
(25,143,153)
(27,296,511)
###
2,875,713,017
278,952,394
22
220,264,174
189,643,254
2,204,133
(11,273,300)
2,619,632
(565,429)
(2,136,283)
33,475,019
1,478,033,637
(1,168,004)
(548,449,429)
(2,088,612,277)
(151,920,129)
(12,500)
200,306,859
1,588,677,384
(153,572,870)
(261,600)
285,327,031
(1,029,980,174)
(237,795,188)
2,837,272,339
(13,169,638)
76,037,019
12,080,490
5,158,396,124
88,964,732
(74,044,583)
(1,040,151,267)
4,133,165,006
1,218,023,376
(9,632,691)
(118,715,047)
8,855,584
2,031,674,626
25,143,153
(68,271,987)
(630,670,950)
1,357,874,842
1,225,026,249
30,932,358
(258,311,018)
1,492,971,295
2,136,283
(230,173,533)
(162,555,958)
1,102,378,087
(4,232,381,738)
(70,000)
1,947,794,004
(7,014,202)
565,125
202,500
9,577,598
###
(2,324,912,307)
(2,617,103,196)
866,750
57,418,680
16,587,270
###
(2,265,607,339)
(129,689,874)
6,004,172,786
565,429
7,168,026
3,616,609,028
4,952,211,362
508,500,000
(400,000,000)
216,609,334
5,277,320,696
(1,523)
7,129,157,466
1,955,167,541
9,084,325,007
(2,092,330,000)
5,718,821,728
3,626,491,728
117,223,767
1,837,943,774
1,955,167,541
4,021,880,500
388,150,680
(383,450,036)
###
701,807,259
1,136,136,515
1,837,943,774
2012
2011
2010
7.19%
3.48%
3.79%
1,357,874,842
38,987,883,405
1,102,378,087
29,108,004,456
#DIV/0!
#DIV/0!
4,133,165,006
57,466,507,410
#DIV/0!
LIQUIDITY RATIOS- Measures the ability of the company to repay short term liabilities
when they come due.
2012
2011
2010
0
0.07
#DIV/0!
0.00
0.03
#DIV/0!
0.00
0.04
#DIV/0!
0.00
STORES
Hypermarkets
Supermarkets
Discounters
S&R
Parco Supermarket
TOTAL
Number
78
38
15
6
19
156
Contribution to Net Sales (per brand)

Puregold
S&R
Parco
86.10%
10.80%
3.10%
100.00%
Contribution to Net Sales (
11% 3%
86%
Source:PGOLD Ann
o Net Sales (Per Brand)
Puregol
d
S&R
Parco
Source:PGOLD Annual Report 2012

Pure Gold Financial Statements

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PUREGOLD PRICE CLUB INC AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF INCOME

EARNINGS PER SHARE

Year Ended December 31

Year Ended December 31

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES

TOTAL CURRENT ASSETS

TOTAL NON CURRENT ASSETS

LIABILITIES AND EQUITY

TOTAL CURRENT LIABILITIES

Non current liabilities

Retirement benefits liability

TOTAL NON CURRENT LIABILITIES

FINANCIAL RATIOS (PAST PERFORMANCE)

TOTAL ASSETS % CHANGE

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES

Year Ended December

EARNINGS PER SHARE

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES

Year Ended December

Year Ended December 31

Year Ended December 31

Year Ended December 31

Year Ended December 31

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES

TOTAL CURRENT ASSETS

TOTAL NON CURRENT ASSETS

LIABILITIES AND EQUITY

TOTAL CURRENT LIABILITIES

Non current liabilities

Retirement benefits liability

TOTAL NON CURRENT LIABILITIES

FINANCIAL RATIOS (PAST PERFORMANCE)

33.94% using interim figure

30.49% using interim figure

26.51% using interim figure

0.61% using interim figure

TOTAL ASSETS % CHANGE

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES

Basic and Diluted earnings per share

Year Ended December 31

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES

TOTAL CURRENT ASSETS

TOTAL NON CURRENT ASSETS

LIABILITIES AND EQUITY

TOTAL CURRENT LIABILITIES

Non current liabilities

TOTAL NON CURRENT LIABILITIES

Additional paid in capital

(Current Assets- Inventory)

ASSET TO EQUITY RATIO

LIQUIDITY RATIOS- Measures the ability of the company to

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES

TOTAL CURRENT ASSETS

TOTAL NON CURRENT ASSETS

LIABILITIES AND EQUITY

TOTAL CURRENT LIABILITIES

Non current liabilities

TOTAL NON CURRENT LIABILITIES

Additional paid in capital

(Current Assets- Inventory)

Average Total Assets

TIMES INTEREST EARNED

LIQUIDITY RATIOS- Measures the ability of the company to repay short