LOPEZ HOLDINGS CORPORATION

INCOME STATEMENT
Fiscal year is January2015
December. All values
PHP Millions.
Sales/Revenue
96,510
Sales Growth
-2.70%

2014

2013

2012

2011

99,191
6.30%

93,308
-6.38%

99,669
296.41%

25,143
-

Cost of Goods Sold

(COGS) incl. D&A
COGS excluding D&A

61,780

64,858

65,708

69,572

17,244

51,518

56,048

57,765

61,979

13,597

Depreciation &
Amortization Expense
Depreciation
Amortization of
Intangibles
Amortization of Deferred
Charges
COGS Growth

10,262

8,810

7,943

7,593

3,647

9,504
758

8,083
727

7,201
742

6,886
707

2,601
990

56

-4.75%

-1.29%

-5.55%

303.46%

Gross Income
Gross Income Growth

34,730
1.16%

34,333
24.39%

27,600
-8.30%

30,097
281.02%

7,899
-

Gross Profit Margin

SG&A Expense
Research & Development
Other SG&A
SGA Growth
Other Operating Expense
EBIT
Unusual Expense

35.99%
12,596
12,596
2.26%
22,134
-2,054

12,318
12,318
20.11%
-1,605

10,256
10,256
0.18%
17,344
1,458

10,238
10,238
50.94%
209
4,176

6,783
215
6,568
-2,286

Non Operating
Income/Expense

1,389

2,180

-1,457

9,514

2,002

Non-Operating Interest
Income
Interest Expense
Interest Expense Growth

1,597

1,611

1,640

1,562

226

8,440
3.39%

8,163
24.76%

6,543
-9.54%

7,233
614.02%

1,013
-

Gross Interest Expense

Interest Capitalized
Pretax Income
Pretax Income Growth

8,695
255
18,734
-2.67%

8,484
321
19,248
102.06%

6,543
9,526
-50.69%

7,233
19,317
318.39%

1,013
4,617
-

Pretax Margin

19.41%

Income Tax
Income Tax - Current
Domestic
Income Tax - Deferred
Domestic

4,093
4,285

4,378
4,460

3,383
3,345

3,274
3,047

295
417

-192

-82

38

227

-122

Equity in Affiliates
Consolidated Net Income
Minority Interest Expense
Net Income
Net Income Growth

1,789
16,430
10,099
6,331
57.37%

1,463
16,333
12,310
4,023
107.05%

1,316
7,459
5,516
1,943
-53.69%

1,062
17,105
12,909
4,196
6.09%

732
5,054
1,099
3,955
-

Net Margin
Extraordinaries &
Discontinued Operations
Discontinued Operations

6.56%
-140

-263

98

-140

-263

98

Net Income After

Extraordinaries
Net Income Available to
Common
EPS (Basic)
EPS (Basic) Growth

6,471

4,286

1,943

4,098

3,955

6,191

3,760

1,943

4,294

3,955

1.35
64.48%

0.82
91.26%

0.43
-54.32%

0.94
8.60%

0.86
-

Basic Shares Outstanding

EPS (Diluted)

4,597
1.34

4,592
0.82

4,586
0.42

4,584
0.93

4,583
0.86

EPS (Diluted) Growth

64.25%

93.17%

-54.77%

8.53%

Diluted Shares
Outstanding
EBITDA
EBITDA Growth

4,614

4,604

4,595

4,593

4,591

32,396
5.10%

30,825
21.90%

25,287
-7.18%

27,243
471.97%

4,763
-

EBITDA Margin
EBIT

33.57%
22,134

17,344

BALANCE SHEET
ASSETS
Fiscal year is JanuaryDecember. All values PHP
Millions.
Cash & Short Term
Investments
Cash Only
Short-Term Investments
Cash & Short Term
Investments Growth
Cash & ST Investments /
Total Assets
Total Accounts Receivable
Accounts Receivables,
Net
Accounts Receivables,
Gross
Bad Debt/Doubtful
Accounts
Other Receivables
Accounts Receivable
Growth
Accounts Receivable
Turnover
Inventories
Finished Goods
Work in Progress
Raw Materials
Progress Payments &
Other
Other Current Assets
Prepaid Expenses
Miscellaneous Current
Assets
Total Current Assets
Net Property, Plant &
Equipment
Property, Plant &
Equipment - Gross
Buildings
Land & Improvements
Machinery & Equipment
Construction in Progress

2015

2014

2013

2012

2011

50,220

52,588

56,453

39,875

10,041

42,096
8,124
-4.50%

46,725
5,863
-6.85%

53,433
3,020
41.57%

39,214
661
297.12%

3,544
6,497
-

14.01%

15.53%

18.45%

14.84%

13.03%

30,622

33,870

29,101

20,208

6,760

25,207

30,012

25,162

17,694

6,389

25,622

30,503

25,445

17,973

7,059

-415

-491

-283

-279

-670

5,415
-9.59%

3,858
16.39%

3,939
44.01%

2,514
198.93%

371
-

3.15

2.93

3.21

4.93

3.72

18,492
111
11,412
5,091
1,878

16,636
141
10,074
4,892
1,529

14,914
83
9
13,313
1,509

15,078
173
94
13,700
1,111

1,238
90
45
1,103

4,209
2,692
1,517

3,432
1,911
1,521

1,785
1,272
513

1,392
902
490

1,866
966
900

103,543
133,291

106,526
119,291

102,253
96,286

76,553
85,784

19,905
15,640

206,655

182,449

155,220

133,125

33,330

83,132
4,393
56,443
29,680

61,423
4,483
53,784
16,647

55,502
3,791
52,582
18,673

53,361
3,442
41,754
13,228

10,719
969
12,242
662

Transportation Equipment
Other Property, Plant &
Equipment
Accumulated Depreciation
Buildings
Land & Improvements
Machinery & Equipment
Transportation Equipment
Other Property, Plant &
Equipment
Total Investments and
Advances
LT Investment - Affiliate
Companies
Other Long-Term
Investments
Long-Term Note
Receivable
Intangible Assets
Net Goodwill
Net Other Intangibles

1,584
31,423

1,510
44,602

1,043
23,629

633
20,707

8,738

73,364
25,082
19
39,494
652
8,117

63,158
19,680
17
35,780
586
7,095

58,934
18,791
17
33,413
570
6,143

47,341
15,767
17
26,356
382
4,819

17,690
4,700
13
6,823
6,154

48,963

42,813

40,166

36,865

30,629

19,461

17,775

16,421

13,180

30,227

29,502

25,038

23,745

23,685

402

2,813

2,707

383

283

53,183
48,258
4,925

53,971
48,246
5,725

54,338
48,028
6,310

55,316
47,997
7,319

7,446
3,384
4,062

Other Assets

14,411

11,352

10,390

11,828

2,741

12,113
2,298
358,584
5.86%
0.28
1.82%

10,826
526
338,724
10.72%
-

7,372
3,018
305,942
13.84%
-

9,359
2,469
268,755
248.81%
-

188
2,553
77,050
-

2015
18,935

2014
21,126

2013
7,454

2012
10,167

2011
960

1,183
17,752

2,075
19,051

7,454

10,167

960

13,772
15.10%

11,965
-27.35%

16,469
1.81%

16,177
1544.00%

984
-

516
17,676
1,148
182
16,346

928
21,710
1,064
128
20,518

988
16,643
670
985
14,988

1,798
8,686
839
735
7,112

171
8,801
163
1,361
7,277

50,899

55,729

41,554

36,828

10,916

Deferred Charges
Tangible Other Assets
Total Assets
Assets - Total - Growth
Asset Turnover
Return On Average
Assets
LIABILITIES
All values PHP Millions.
ST Debt & Current Portion
LT Debt
Short Term Debt
Current Portion of Long
Term Debt
Accounts Payable
Accounts Payable Growth
Income Tax Payable
Other Current Liabilities
Dividends Payable
Accrued Payroll
Miscellaneous Current
Liabilities
Total Current Liabilities

Current Ratio
Quick Ratio
Cash Ratio
Long-Term Debt
Long-Term Debt excl.
Capitalized Leases
Non-Convertible Debt
Convertible Debt
Capitalized Lease
Obligations
Provision for Risks &
Charges
Deferred Taxes
Deferred Taxes - Credit
Deferred Taxes - Debit
Other Liabilities
Other Liabilities (excl.
Deferred Income)
Deferred Income
Total Liabilities
Total Liabilities / Total
Assets
Common Equity (Total)
Common Stock Par/Carry
Value
Additional Paid-In
Capital/Capital Surplus
Retained Earnings

Cumulative
Translation
Adjustment/Unrealized
For. Exch. Gain
Unrealized Gain/Loss
Marketable Securities

Other Appropriated
Reserves
Unappropriated

2.03
1.67
0.99
152,067
152,067

1.91
1.61
0.94
143,157
143,157

2.46
2.1
1.36
137,471
137,471

2.08
1.67
1.08
103,817
103,817

1.82
1.71
0.92
13,012
13,000

152,067
-

143,157
-

137,471
-

103,817
-

12,784
216
12

5,793

4,996

3,584

2,485

889

899

1,115

709

428

-81

3,279
2,380
2,377
2,320

3,179
2,064
2,096
2,070

2,835
2,126
3,809
3,758

2,554
2,126
3,506
3,425

608
689
599
526

57
214,415
59.79%

26
209,157
61.75%

51
189,253
61.86%

81
149,190
55.51%

73
26,024
33.78%

48,500
4,598

42,291
4,593

40,782
4,588

39,309
4,584

41,085
4,583

83

54

31

49,922

44,174

40,112

39,003

39,078

-3,562

-2,479

-1,563

-2,393

-4,570

2,771

1,415

1,319

1,549

2,166

-5,312

-5,466

-3,705

-3,440

24

3,774

-201

Reserves
Common Equity /
Total Assets
Total Shareholders' Equity
Total Shareholders'
Equity / Total Assets

Accumulated Minority
Interest
Total Equity
Liabilities & Shareholders'
Equity

13.53%

12.49%

13.33%

14.63%

53.32%

48,500

42,291

40,782

39,309

41,085

13.53%

12.49%

13.33%

14.63%

53.32%

95,669

87,276

75,907

80,256

9,941

144,169
358,584

129,567
338,724

116,689
305,942

119,565
268,755

51,026
77,050