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PLDT INCORPORATION

STATEMENT OF FINANCIAL POSITION


As at December 31, 2016 and 2015

HORIZONTAL ANALYSIS
2016
ASSETS
Current Assets
Cash and Cash Equivalents 38,722,000
Short Term Investments 2,738,000
Trade and Other Receivables 24,436,000
Inventories and Supplies 3,744,000
Current Portion of Derivative Financial Assets 242,000
Current Portion of Investment in Debt and Other Long-Term Investments 326,000
Current Portion of Prepayments 7,505,000
Current Portion of Advances and Other Noncurrent Assets 8,251,000
Total Current Assets 85,964,000

Noncurrent Assets
Property and Equipment 203,188,000
Investments in Associates and Joint Ventures 56,858,000
Available-for-sale Financial Statements 12,189,000
Investment in Debt Securities and Other Long-term Investments-act of current portio 374,000
Investment Properties 1,890,000
Goodwill and Intangible Assets 70,280,000
Deffered Income Tax Assets-net 27,348,000
Derivative Financial Assets-net of current portions 499,000
Prepayments-net of current portion 7,056,000
Advances and Other Noncurrent Assets-net of current portions 9,473,000
Total Noncurrent Assets 389,155,000
TOTAL ASSETS 475,119,000

LIABILITIES AND EQUITY


Current Liabilities
Accounts Payable 52,950,000
Accrued expenses and other current liabilities 92,219,000
Current Portion of interest-bearing financial liabilities 33,273,000
Provision for claims and assessments 897,000
Dividends Payable 1,544,000
Current portion of derivative financial liabilities 225,000
Income tax payable 905,000
Total Current Liabilities 182,013,000
Noncurrent Liabilities
Interest-bearing financial liabilities,net 151,759,000
Deferred income tax liabilities,net 3,567,000
Derivative financial liabilities,net 2,000
Customers' deposit 2,431,000
Pension and other employee benefits 11,206,000
Deferred credits and other noncurrent liabilities 15,604,000
Total Noncurrent Liabilities 184,569,000
TOTAL LIABILITIES 366,582,000

Equity
Non-voting serial preferred stock 360,000
Voting preferred stock 150,000
Common stock 1,093,000
Treasury stock -6,505,000
Capital in excess of par value 130,488,000
Retained earnings 3,483,000
Other comprehensive loss -20,894,000
Total Equity Attributable to Equity Holders of PLDT 108,175,000
Noncontrolling interests 362,000
TOTAL EQUITY 108,537,000
TOTAL EQUITY AND LIABILITIES 475,119,000
2015 CHANGE PERCENT

46,455,000 -7,733,000 -16.65%


1,429,000 1,309,000 91.60%
24,898,000 -462,000 -1.86%
4,614,000 -870,000 -18.86%
26,000 216,000 830.77%
51,000 275,000 539.22%
5,798,000 1,707,000 29.44%
8,170,000 81,000 0.99%
91,441,000 -5,477,000 -5.99%

195,782,000 7,406,000 3.78%


48,703,000 8,155,000 16.74%
15,711,000 -3,522,000 -22.42%
952,000 -578,000 -60.71%
1,825,000 65,000 3.56%
72,117,000 -1,837,000 -2.55%
21,941,000 5,407,000 24.64%
145,000 354,000 244.14%
3,475,000 3,581,000 103.05%
3,003,000 6,470,000 215.45%
363,654,000 25,501,000 7.01%
455,095,000 20,024,000 4.40%

52,679,000 271,000 0.51%


84,286,000 7,933 9.41%
16,911,000 16,362,000 96.75%
897,000 0 0%
1,461,000 83,000 5.68%
306,000 -81,000 -26.47%
2,126,000 -1,221,000 -57.43%
158,666,000 23,347,000 14.71%
143,982,000 7,777,000 5.40%
3,704,000 -137,000 -3.70%
736,000 -734,000 -99.73%
2,430,000 1,000 0.04%
10,197,000 1,009,000 9.90%
21,482,000 -5,878,000 -27.36%
182,531,000 2,038,000 1.12%
341,197,000 25,385,000 7.44%

360,000 0 0%
150,000 0 0%
1,093,000 0 0%
-6,505,000 0 0%
130,517,000 -29,000 -0.02%
6,195,000 -2,712,000 -43.78%
-18,202,000 -2,692,000 14.79%
113,608,000 -5,433,000 -4.78%
290,000 72,000 24.83%
113,898,000 -5,361,000 -4.71%
455,095,000 20,024,000 4.40%
PLDT INCORPORATION
STATEMENT OF FINANCIAL POSITION
As at December 31, 2016 and 2015

VERTICAL ANALYSIS
2016
ASSETS
Current Assets
Cash and Cash Equivalents 38,722,000
Short Term Investments 2,738,000
Trade and Other Receivables 24,436,000
Inventories and Supplies 3,744,000
Current Portion of Derivative Financial Assets 242,000
Current Portion of Investment in Debt and Other Long-Term Investments 326,000
Current Portion of Prepayments 7,505,000
Current Portion of Advances and Other Noncurrent Assets 8,251,000
Total Current Assets 85,964,000

Noncurrent Assets
Property and Equipment 203,188,000
Investments in Associates and Joint Ventures 56,858,000
Available-for-sale Financial Statements 12,189,000
Investment in Debt Securities and Other Long-term Investments-act of current portion 374,000
Investment Properties 1,890,000
Goodwill and Intangible Assets 70,280,000
Deffered Income Tax Assets-net 27,348,000
Derivative Financial Assets-net of current portions 499,000
Prepayments-net of current portion 7,056,000
Advances and Other Noncurrent Assets-net of current portions 9,473,000
Total Noncurrent Assets 389,155,000
TOTAL ASSETS 475,119,000

LIABILITIES AND EQUITY


Current Liabilities
Accounts Payable 52,950,000
Accrued expenses and other current liabilities 92,219,000
Current Portion of interest-bearing financial liabilities 33,273,000
Provision for claims and assessments 897,000
Dividends Payable 1,544,000
Current portion of derivative financial liabilities 225,000
Income tax payable 905,000
Total Current Liabilities 182,013,000
Noncurrent Liabilities
Interest-bearing financial liabilities,net 151,759,000
Deferred income tax liabilities,net 3,567,000
Derivative financial liabilities,net 2,000
Customers' deposit 2,431,000
Pension and other employee benefits 11,206,000
Deferred credits and other noncurrent liabilities 15,604,000
Total Noncurrent Liabilities 184,569,000
TOTAL LIABILITIES 366,582,000

Equity
Non-voting serial preferred stock 360,000
Voting preferred stock 150,000
Common stock 1,093,000
Treasury stock -6,505,000
Capital in excess of par value 130,488,000
Retained earnings 3,483,000
Other comprehensive loss -20,894,000
Total Equity Attributable to Equity Holders of PLDT 108,175,000
Noncontrolling interests 362,000
TOTAL EQUITY 108,537,000
TOTAL EQUITY AND LIABILITIES 475,119,000
PERCENT 2015 PERCENT

8.15% 46,455,000 10.21%


0.58% 1,429,000 0.31%
5.14% 24,898,000 5.47%
0.79% 4,614,000 1.01%
0.05% 26,000 0.00%
0.07% 51,000 0.01%
1.58% 5,798,000 1.27%
1.74% 8,170,000 1.80%
18.09% 91,441,000 20.09%

42.77% 195,782,000 43.02%


11.97% 48,703,000 10.70%
2.57% 15,711,000 3.45%
0.08% 952,000 0.21%
0.40% 1,825,000 0.40%
14.79% 72,117,000 15.85%
5.76% 21,941,000 4.82%
0.11% 145,000 0.03%
1.49% 3,475,000 0.76%
1.99% 3,003,000 0.66%
81.91% 363,654,000 79.91%
100% 455,095,000 100%

11.14% 52,679,000 11.58%


19.41% 84,286,000 18.52%
7.00% 16,911,000 3.72%
0.19% 897,000 0.20%
0.32% 1,461,000 0.32%
0.05% 306,000 0.07%
0.19% 2,126,000 0.47%
38.31% 158,666,000 7.22%
31.94% 143,982,000 31.64%
0.75% 3,704,000 0.81%
0.00% 736,000 0.16%
0.51% 2,430,000 0.53%
2.36% 10,197,000 2.24%
3.28% 21,482,000 4.72%
38.85% 182,531,000 40.11%
77.16% 341,197,000 74.97%

0.08% 360,000 0.08%


0.03% 150,000 0.03%
0.23% 1,093,000 0.24%
-1.37% -6,505,000 -1.43%
27.46% 130,517,000 28.68%
0.73% 6,195,000 1.36%
-4.40% -18,202,000 -4.00%
22.77% 113,608,000 24.96%
0.08% 290,000 0.06%
22.84% 113,898,000 25.03%
100% 455,095,000 100%
PLDT INCORPORATION
STATEMENT OF COMPREHENSIVE INCOME
For the year ended December 31, 2016 and 2015

HORIZONTAL ANALYSIS
2016
REVENUES
Service Revenues 157,210,000
Non-service Revenues 8,052,000
Gross Sales 165,262,000
Cost of goods sold 16,753,000
GROSS PROFIT 148,509,000

EXPENSES
Depreciation and amortization 34,455,000
Compensation and employee benefits 19,928,000
Repairs and maintenance 15,212,000
Assets impairement 11,042,000
Interconnection costs 9,573,000
Professional and other contracted services 9,474,000
Selling and promotions 7,687,000
Rent 6,912,000
Taxes and licenses 3,782,000
Insurance and security services 1,739,000
Communication, training and travel 1,253,000
Amortization of intangible assets 929,000
Costs of content 576,000
Other expenses 1,244,000
TOTAL EXPENSES 123,806,000
INTEREST INCOME (EXPENSE) 24,703,000

OTHER INCOME(EXPENSE)
Equity share in net earnings of associates and joint ventures 1,181,000
Interest income 1,046,000
Gains(losses) on derivative financial instruments 996,000
Foreign exchange losses -2,785,000
Financing costs -7,354,000
Other income (expenses) 4,284,000
TOTAL OTHER INCOME (EXPENSE) -2,632,000

Income before income tax 22,071,000


Provision for income tax 1,909,000
NET INCOME 20,162,000
2015 CHANGE PERCENT

162,930,000 -5,720,000 -3.51%


8,173,000 -121,000 -1.48%
171,103,000 5,841,000 -3.41%
16,389,000 364,000 2.22%
154,714,000 -6,205,000 -4.01%

31,519,000 2,936,000 9.32%


21,606,000 -1,678,000 -7.77%
15,035,000 177,000 1.18%
9,690,000 1,352,000 13.95%
10,317,000 -744,000 -7.21%
8,234,000 1,240,000 15.06%
9,747,000 -2,060,000 -21.13%
6,376,000 536,000 8.41%
4,592,000 -810,000 -17.64%
1,797,000 -58,000 -3.23%
1,349,000 -96,000 -7.12%
1,076,000 -147,000 -13.66%
225,000 351,000 156%
1,316,000 -77,000 -5.47%
122,879,000 927,000 0.75%
31,835,000 -7,132,000 -22.40%

3,241,000 -2,060,000 -63.56%


799,000 247,000 30.91%
420,000 576,000 137.14%
-3,036,000 251,000 -8.27%
-6,259,000 -1,095,000 17.49%
-362,000 4,646,000 -1283.14%
-5,197,000 2,565,000 -49.36%

26,638,000 -4,567,000 -17.14%


4,563,000 -2,654,000 -58.16%
22,075,000 -1,913,000 -8.67%
PLDT INCORPORATION
STATEMENT OF COMPREHENSIVE INCOME (CONTINUED)
For the year ended December 31, 2016 and 2015

HORIZONTAL ANALYSIS

NET INCOME
OTHER COMPREHENSIVE INCOME (LOSS)-NET OF TAX
Net gains(losses) on available-for-sale financial investmenst:
Impairement recognized in profit or loss
Unrealized gains(losses) from changes in fair value recognized during the year
Income tax related to fair value adjustments charged directly to equity
Share in the other comprehensive income(loss) of associates and joint venture accounted for
using the equity method
Foreign currency translation differences of subsidiaries
Net transactions on cashflow hedges:
Net fair value gains(losses) on cash flow hedges
Income tax related to fair value adjustments charged directly to equity
Net other comprehensive income(loss) to be reclassified to profit or loss in subsequent years
Revaluation increment on investment properties:
Fair value adjustment to property and equipment transferred to investement
properties during the year
Depreciation of revaluation increment in investment properties transferred to
property and equipment
Income tax related to revaluation increment charged directly to equity
Actuarial losses on defined benefit obligations:
Remeasurement in actuarial losses on defined benefit obligations
Income tax related to remeasurement adjustments
Share in other comprehensive loss of associates and joint ventures accounted for
using the equity method
Net other comprehensive loss not to be reclassified tp profit or loss in subsequent years
Total Other Comprehensive Income(loss)-net of tax
TOTAL COMPREHENSIVE INCOME
TINUED)
5

2016 2015 CHANGE PERCENT


20,162,000 22,075,000 -1,913,000 -8.67%

860,000 -8,135,000 8,995,000 -110.57%


5,381,000 5,124,000 257,000 5.02%
-4,520,000 -13,258,000 8,738,000 -65.91%
-1,000 -1,000 0 0%
151,000 -14,000 165,000 1178.57%

79,000 45,000 34,000 75.56%


10,000 31,000 -21,000 -67.74%
76,000 5,000 71,000 1420%
-66,000 26,000 -92,000 -353.85%
1,100,000 -8,073,000 9,173,000 -113.63%
17,000 -1,000 18,000 -1800%
26,000 - 26,000 0%

-2,000 -2,000 0 0%

-7,000 1,000 -8,000 -800%


-3,571,000 -1,598,000 -1,973,000 123.47%
-5,112,000 -2,356,000 -2,756,000 16.98%
1,541,000 758,000 783,000 103.30%
- -235,000 235,000 -100%

-3,554,000 -1,834,000 -1,720,000 93.78%


-2,454,000 -9,907,000 7,453,000 -75.23%
17,708,000 12,168,000 5,540,000 45.53%
PLDT INCORPORATION
STATEMENT OF COMPREHENSIVE INCOME
For the year ended December 31, 2016 and 2015

VERTICAL ANALYSIS
2016
REVENUES
Service Revenues 157,210,000
Non-service Revenues 8,052,000
Gross Sales 165,262,000
Cost of goods sold 16,753,000
GROSS PROFIT 148,509,000

EXPENSES
Depreciation and amortization 34,455,000
Compensation and employee benefits 19,928,000
Repairs and maintenance 15,212,000
Assets impairement 11,042,000
Interconnection costs 9,573,000
Professional and other contracted services 9,474,000
Selling and promotions 7,687,000
Rent 6,912,000
Taxes and licenses 3,782,000
Insurance and security services 1,739,000
Communication, training and travel 1,253,000
Amortization of intangible assets 929,000
Costs of content 576,000
Other expenses 1,244,000
TOTAL EXPENSES 123,806,000
INTEREST INCOME (EXPENSE) 24,703,000

OTHER INCOME(EXPENSE)
Equity share in net earnings of associates and joint ventures 1,181,000
Interest income 1,046,000
Gains(losses) on derivative financial instruments 996,000
Foreign exchange losses -2,785,000
Financing costs -7,354,000
Other income (expenses) 4,284,000
TOTAL OTHER INCOME (EXPENSE) -2,632,000

Income before income tax 22,071,000


Provision for income tax 1,909,000
NET INCOME 20,162,000
PERCENT 2015 PERCENT

95.13% 162,930,000 95.22%


4.87% 8,173,000 4.78%
100% 171,103,000 100%
10.14% 16,389,000 9.58%
89.86% 154,714,000 90.42%

20.85% 31,519,000 18.42%


12.06% 21,606,000 12.63%
9.20% 15,035,000 8.79%
6.68% 9,690,000 5.66%
5.79% 10,317,000 6.03%
5.73% 8,234,000 4.81%
4.65% 9,747,000 5.70%
4.18% 6,376,000 3.73%
2.29% 4,592,000 2.68%
1.05% 1,797,000 1.05%
0.76% 1,349,000 0.79%
0.56% 1,076,000 0.63%
0.35% 225,000 0.13%
0.75% 1,316,000 0.77%
74.91% 122,879,000 71.82%
14.00% 31,835,000 18.61%

0.71% 3,241,000 1.89%


0.63% 799,000 0.47%
0.60% 420,000 0.25%
-1.69% -3,036,000 -1.77%
-40.45% -6,259,000 -3.66%
2.59% -362,000 -0.21%
-1.59% -5,197,000 -3.04%

13.36% 26,638,000 15.57%


1.16% 4,563,000 2.67%
12.20% 22,075,000 12.90%
PLDT INCORPORATION
STATEMENT OF COMPREHENSIVE INCOME (CONTINUED)
For the year ended December 31, 2016 and 2015

VERTICAL ANALYSIS

NET INCOME
OTHER COMPREHENSIVE INCOME (LOSS)-NET OF TAX
Net gains(losses) on available-for-sale financial investmenst:
Impairement recognized in profit or loss
Unrealized gains(losses) from changes in fair value recognized during the year
Income tax related to fair value adjustments charged directly to equity
Share in the other comprehensive income(loss) of associates and joint venture accounted for
using the equity method
Foreign currency translation differences of subsidiaries
Net transactions on cashflow hedges:
Net fair value gains(losses) on cash flow hedges
Income tax related to fair value adjustments charged directly to equity
Net other comprehensive income(loss) to be reclassified to profit or loss in subsequent years
Revaluation increment on investment properties:
Fair value adjustment to property and equipment transferred to investement
properties during the year
Depreciation of revaluation increment in investment properties transferred to
property and equipment
Income tax related to revaluation increment charged directly to equity
Actuarial losses on defined benefit obligations:
Remeasurement in actuarial losses on defined benefit obligations
Income tax related to remeasurement adjustments
Share in other comprehensive loss of associates and joint ventures accounted for
using the equity method
Net other comprehensive loss not to be reclassified tp profit or loss in subsequent years
Total Other Comprehensive Income(loss)-net of tax
TOTAL COMPREHENSIVE INCOME
TINUED)

2016 PERCENT 2015 PERCENT


20,162,000 12.20% 22,075,000 12.90%

860,000 0.52% -8,135,000 -4.75%


5,381,000 3.26% 5,124,000 2.99%
-4,520,000 -2.74% -13,258,000 -7.75%
-1,000 0.00% -1,000 0.00%
151,000 0.09% -14,000 0.01%

79,000 0.05% 45,000 0.03%


10,000 0.01% 31,000 0.02%
76,000 0.05% 5,000 0.00%
-66,000 -0.04% 26,000 0.02%
1,100,000 0.67% -8,073,000 -4.72%
17,000 0.01% -1,000 0.00%
26,000 0.02% - 0%

-2,000 0.00% -2,000 0.00%

-7,000 0.00% 1,000 0.00%


-3,571,000 -2.16% -1,598,000 -0.93%
-5,112,000 -3.09% -2,356,000 -1.38%
1,541,000 0.93% 758,000 0.44%
- 0% -235,000 -0.14%

-3,554,000 -2.15% -1,834,000 -1.07%


-2,454,000 -1.48% -9,907,000 -5.79%
17,708,000 10.72% 12,168,000 7.11%