VA_Income Statement

UNIVERSAL ROBINA CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

Continuing Operations
SALE OF GOODS AND SERVICES
COST OF SALES
GROSS PROFIT
Selling and distribution costs
General and administrative expenses
OPERATING INCOME
Finance costs
Provision for credit and impairment losses
Net foreign exchange gain (losses)
Finance revenue
Equity in net losses of joint ventures
Market valuation gain (loss) on financial assets and liabilities at fair value
through profit or loss - net

Other income (losses) - net

INCOME BEFORE TAX FROM CONTINUING OPERATIONS

PROVISION FOR INCOME TAX

NET INCOME FROM CONTINUING OPERATIONS

DISCONTINUED OPERATIONS
NET INCOME AFTER TAX FROM DISCONTINUED
OPERATIONS
NET INCOME
NET INCOME ATTRIBUTABLE TO:
Equity holders of the parent
Page 1
 VA_Income Statement

Non-controlling interests

EARNINGS PER SHARE

Basic/diluted, for income attributable to equity holders of the parent

Page 2
 VA_Income Statement

RIES

December 31
2022 % 2021

149,903,643,832 100% 116,954,788,444

110,686,464,075 74% 83,489,653,157
39,217,179,757 26% 33,465,135,287
18,608,820,271 12% 16,082,615,159
5,384,755,135 4% 4,666,125,109
15,223,604,351 10% 12,716,395,019
-806,175,065 -0.54% -573,284,799
-327,038,490 -0.22% -572,219,061
383,483,794 0.26% 346,265,153
295,018,267 0.20% 255,372,110
-378,967,690 -0.25% -91,077,671

70,404,256 0.05% 87,194,548

3,011,156,673 2.01% 2,375,334,123
17,471,486,096 11.66% 14,543,979,422
3,000,198,031 2.00% 1,578,671,226
14,471,288,065 9.65% 12,965,308,196

- - 11,280,571,602
14,471,288,065 10% 24,245,879,798

13,956,141,883 9% 23,323,672,422
Page 3
 VA_Income Statement

515,146,182 0.34% 922,207,376

14,471,288,065 10% 24,245,879,798

6.39 10.58

Page 4
 VA_Income Statement

100%
71%
29%
14%
4%
11%
-0.49%
-0.49%
0.30%
0.22%
-0.08%

0.07%
2.03%
12%
1%
11%

10%
21%

20%
Page 5
 VA_Income Statement

0.79%
21%

Page 6
 HA_Income Statement

UNIVERSAL ROBINA CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

Continuing Operations
SALE OF GOODS AND SERVICES
COST OF SALES
GROSS PROFIT
Selling and distribution costs
General and administrative expenses
OPERATING INCOME
Finance costs
Provision for credit and impairment losses
Net foreign exchange gain (losses)
Finance revenue
Equity in net losses of joint ventures
Market valuation gain (loss) on financial assets and liabilities at fair value
through profit or loss - net

Other income (losses) - net

INCOME BEFORE TAX FROM CONTINUING OPERATIONS

PROVISION FOR INCOME TAX

NET INCOME FROM CONTINUING OPERATIONS

DISCONTINUED OPERATIONS
NET INCOME AFTER TAX FROM DISCONTINUED OPERATIONS

NET INCOME
NET INCOME ATTRIBUTABLE TO:

Page 7
 HA_Income Statement

Equity holders of the parent

Non-controlling interests

EARNINGS PER SHARE

Basic/diluted, for income attributable to equity holders of the parent

Page 8
 HA_Income Statement

ES

December 31
Increase/ Decrease Amount
2022 2021

149,903,643,832 116,954,788,444 32,948,855,388

110,686,464,075 83,489,653,157 27,196,810,918
39,217,179,757 33,465,135,287 5,752,044,470
18,608,820,271 16,082,615,159 2,526,205,112
5,384,755,135 4,666,125,109 718,630,026
15,223,604,351 12,716,395,019 2,507,209,332
-806,175,065 -573,284,799 -232,890,266
-327,038,490 -572,219,061 245,180,571
383,483,794 346,265,153 37,218,641
295,018,267 255,372,110 39,646,157
-378,967,690 -91,077,671 -287,890,019

70,404,256 87,194,548 -16,790,292

3,011,156,673 2,375,334,123 635,822,550
17,471,486,096 14,543,979,422 2,927,506,674
3,000,198,031 1,578,671,226 1,421,526,805
14,471,288,065 12,965,308,196 1,505,979,869

- 11,280,571,602 -11,280,571,602
14,471,288,065 24,245,879,798 -9,774,591,733

Page 9
 HA_Income Statement

13,956,141,883 23,323,672,422 -9,367,530,539

515,146,182 922,207,376 -407,061,194
14,471,288,065 24,245,879,798 -9,774,591,733

6.39 10.58

Page 10
 HA_Income Statement

Increase/ Decrease Percentage

28%
33%
17%
16%
15%
20%
41%
-43%
11%
16%
316%

-19%
27%
20%
90%
12%

-100%
-40%

Page 11
 HA_Income Statement

-40%
-44%
-40%

Page 12
 VA_Balance Sheet

UNIVERSAL ROBINA CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

December 31
2022
ASSETS
Current assets
Cash and cash equivalents 13,251,218,657
Financial assets at fair value through profit or loss 834,807,019
Receivables 21,955,634,905
Inventories 38,064,661,840
Biological assets 205,303,346
Other current assets 5,843,068,721
80,154,694,488
Noncurrent Assets
Property, plant and equipment 60,117,371,432
Right-of-use assets 2,001,572,293
Biological assets 205,740,429
Goodwill 19,363,084,093
Intangible assets 4,864,394,301
Investments in joint ventures 138,060,136
Deferred tax assets 450,002,299
Other noncurrent assets 2,658,709,936
89,798,934,919
TOTAL ASSETS 169,953,629,407

LIABILITIES AND EQUITY

Current Liabilities
Accounts payable and other accrued liabilities 25,480,972,213
Short-term debts 11,762,287,539
Trust receipts payable 11,457,712,536
Income tax payable 426,388,653
Lease liabilities - current portion 273,499,481
49,400,860,422

Page 13
 VA_Balance Sheet
Noncurrent Liabilities
Deferred tax liabilities 2,161,335,900
Lease liabilities - net of current portion 2,001,355,296
Other noncurrent liabilities 419,736,694
4,582,427,890
TOTAL LIABILITIES 53,983,288,312

Equity
Equity attributable toRetaine
equity holders of the parent
Paid-up
capital
d 23,422,134,732
earnings 95,304,192,226
Other
Equitycomprehensive income 5,333,718,849
reserve
Treasur -5,062,245,488
y shares -3,652,109,120
115,345,691,199
Equity attributable to non-controlling interest 624,649,896
115,970,341,095
TOTAL LIABILITIES AND EQUITY 169,953,629,407

Page 14
 VA_Balance Sheet

December 31
% 2021 %

8% 16,957,684,321 11.11%
0.49% 513,705,225 0.34%
13% 16,766,426,332 10.98%
22% 28,446,987,863 18.63%
0.12% 132,144,916 0.09%
3% 4,517,854,573 2.96%
47% 67,334,803,230 44.11%

35% 55,881,358,761 36.61%

1% 2,215,167,047 1.45%
0.12% 166,105,594 0.11%
11% 21,271,723,229 13.93%
3% 1,820,637,714 1.19%
0.08% 55,228,221 0.04%
0.26% 447,528,495 0.29%
2% 3,464,267,621 2.27%
53% 85,322,016,682.00 55.89%
100% 152,656,819,912.00 100.00%

15% 22,578,884,570 14.79%

7% 7,808,029,451 5.11%
7% 8,106,662,079 5.31%
0.25% 288,842,084 0.19%
0.16% 245,682,038 0.16%
29% 39,028,100,222 25.57%

Page 15
 VA_Balance Sheet

1% 2,032,345,574 1.33%
1% 2,235,085,558 1.46%
0.25% 383,206,789 0.25%
3% 4,650,637,921 3.05%
32% 43,678,738,143 28.61%

14% 23,422,134,732 15.34%

56% 88,907,647,831 58.24%
3% 3,266,429,260 2.14%
-3% -5,075,466,405 -3.32%
-2% -1,099,761,235 -0.72%
68% 109,420,984,183 71.68%
0.37% 346,749,649 0.23%
68% 109,767,733,832 71.90%
100% 152,656,819,912 100.00%

Page 16
 HA_Balance Sheet

UNIVERSAL ROBINA CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

ASSETS
Current assets
Cash and cash equivalents
Financial assets at fair value through profit or loss
Receivables
Inventories
Biological assets
Other current assets

Noncurrent Assets
Property, plant and equipment

Right-of-use assets
Biological assets
Goodwill
Intangible assets
Investments in joint ventures
Deferred tax assets
Other noncurrent assets

TOTAL ASSETS

Page 17
 HA_Balance Sheet

LIABILITIES AND EQUITY

Current Liabilities
Accounts payable and other accrued liabilities
Short-term debts
Trust receipts payable
Income tax payable
Lease liabilities - current portion

Noncurrent Liabilities
Deferred tax liabilities
Lease liabilities - net of current portion
Other noncurrent liabilities

TOTAL LIABILITIES

Equity
Equity attributable to equity holders of the parent
Paid-up capital
Retained
earnings
Other comprehensive income
Equity reserve
Treasury
shares

Equity attributable to non-controlling interest

TOTAL LIABILITIES AND EQUITY

Page 18
 HA_Balance Sheet

DIARIES

POSITION

December 31
2022 2021 Increase/Decrease Amount

13,251,218,657 16,957,684,321 -3,706,465,664

834,807,019 513,705,225 321,101,794
21,955,634,905 16,766,426,332 5,189,208,573
38,064,661,840 28,446,987,863 9,617,673,977
205,303,346 132,144,916 73,158,430
5,843,068,721 4,517,854,573 1,325,214,148
80,154,694,488 67,334,803,230 12,819,891,258

60,117,371,432 55,881,358,761 4,236,012,671

2,001,572,293 2,215,167,047 -213,594,754
205,740,429 166,105,594 39,634,835
19,363,084,093 21,271,723,229 -1,908,639,136
4,864,394,301 1,820,637,714 3,043,756,587
138,060,136 55,228,221 82,831,915
450,002,299 447,528,495 2,473,804
2,658,709,936 3,464,267,621 -805,557,685
89,798,934,919 85,322,016,682.00 4,476,918,237

169,953,629,407 152,656,819,912.00 17,296,809,495

Page 19
 HA_Balance Sheet

25,480,972,213 22,578,884,570 2,902,087,643

11,762,287,539 7,808,029,451 3,954,258,088
11,457,712,536 8,106,662,079 3,351,050,457
426,388,653 288,842,084 137,546,569
273,499,481 245,682,038 27,817,443
49,400,860,422 39,028,100,222 10,372,760,200

2,161,335,900 2,032,345,574 128,990,326

2,001,355,296 2,235,085,558 -233,730,262
419,736,694 383,206,789 36,529,905
4,582,427,890 4,650,637,921 -68,210,031
53,983,288,312 43,678,738,143 10,304,550,169

23,422,134,732 23,422,134,732 0
95,304,192,226 88,907,647,831 6,396,544,395
5,333,718,849 3,266,429,260 2,067,289,589
-5,062,245,488 -5,075,466,405 13,220,917
-3,652,109,120 -1,099,761,235 -2,552,347,885
115,345,691,199 109,420,984,183 5,924,707,016
624,649,896 346,749,649 277,900,247
115,970,341,095 109,767,733,832 6,202,607,263
169,953,629,407 152,656,819,912 17,296,809,495

Page 20
 HA_Balance Sheet

Increase/Decrease
Percentage

-22%
63%
31%
34%
55%
29%
19%

8%
-10%
24%
-9%
167%
150%
1%
-23%
5%

11%

Page 21
 HA_Balance Sheet

13%
51%
41%
48%
11%
27%

6%
-10%
10%
-1%
24%

0%
7%
63%
0%
232%
5%
80%
6%
11%

Page 22
 Financial Ratios

LIQUIDITY RATIOS

a. Current Ratio

Current Ratio = Current Assets

Current Liabilities

b. Quick or Acid- Test Ratio

Quick or Acid- Test Ratio = (Current Asset – Inventories)

Current Liabilities

ACTIVITY RATIOS

a. Inventory Turnover

Inventory Turnover = Cost of sales

(Beg. Inventory + Ending Inventory)/2

a-b. Average Age of Inventory

Average Age of Inventory = 360

Inventory Turnover

b. Average Collection Period

Page 23
 Financial Ratios

Average Collection Period = (Beg. A/R + Ending A/R) / 2

Annual Sales / 360

c. Average Payment Period

Average Payment Period = (Beg. A/P + Ending A/P) / 2

Annual Purchases / 360

Annual Purchase = COGS+ End Inventory + Beg. Inventory

d. Fixed Asset Turnover

Fixed Asset Turnover = Sales

Net Fixed Assets

e. Total Asset Turnover

Total Asset Turnover = Sales

Total Assets

LEVERAGE RATIOS

a. Debt Ratio

Page 24
 Financial Ratios

Debt Ratio = Total Liabilities

Total Assets

b. Debt-to-Equity Ratio

Debt-to-Equity Ratio = Total Liabilities

Shareholder’s Equity

PROFITABILITY RATIOS

a. Gross Profit Margin

Gross Profit Margin = Sales - Cost of Sales

Sales

b. Operating Profit Margin

Operating Profit Margin = Operating Profit

Sales

c. Net Profit Margin

Net Profit Margin = Net Profit after Taxes

Sales

d. Return on Assets

Page 25
 Financial Ratios

Return on Assets = Net Profit after Taxes

Total Assets

e. Return on Equity

Return on Equity = Net Profit after Taxes

Shareholder’s Equity

E-a Return on Average Stockholder’s Equity

Return on Average Net Income

Stockholder’s Equity = (Stockholder’s equity Beg. + Ending) / 2

VALUATION
a. Earnings per Share

Earnings per Share = Net income attributable to equity holders of the parent

Weighted Average No. Of Shares Outstanding

b. Price/ Earnings (P/E) Ratio

Page 26
 Financial Ratios

(P/E) Ratio = Market price per share of common stock

Earnings per Share

c. Price/ Book Ratio

Price/ Book Ratio = Market price per share of common stock

Book value per share

Financial Ratio
Profitability

Profit Margin
Return on Equity (ROE)
Return on Assets (ROA)

Liquidity/Solvency
Current Ratio

Quick Ratio
Efficiency
Asset Turnover
Valuation
Price to Earnings Ratio
Price to Book Ratio
Price to Discounted Cash Flows
Price to Sales

Page 27
 Financial Ratios

80,154,694,488
49,400,860,422

( 80,154,694,488 - 38,064,661,840 )
49,400,860,422

110,686,464,075
(28446987863 + 38,064,661,840)/2

360
3.33

Page 28
 Financial Ratios

( 16,766,426,332 + 21,955,634,905) /2
149,903,643,832 / 360

(22,578,884,570 + 25,480,972,213) / 2
120,304,138,052 / 360

120,304,138,052

149,903,643,832
60,117,371,432

149,903,643,832
169,953,629,407

Page 29
 Financial Ratios

53,983,288,312
169,953,629,407

53,983,288,312
115,970,341,095

149,903,643,832 -110,686,464,075
149,903,643,832

15,223,604,351
149,903,643,832

14,471,288,065
149,903,643,832

Page 30
 Financial Ratios

14,471,288,065
169,953,629,407

14,471,288,065
115,970,341,095

14,471,288,065
Ending) / 2 ( 109,767,733,832 + 115,970,341,095)/ 2

holders of the parent 13,956,141,883

s Outstanding 2,185,417,208

Page 31
 Financial Ratios

136
6.39

136
52.95

Page 32
 Financial Ratios

2022

67,334,803,230
1.62
39,028,100,222

(67,334,803,230 - 28,446,987,863 )
0.85
39,028,100,222

83,489,653,157
3.33
(26,254,330,867 + 28,446,987,863)/2

360
108
3.05
108 days

Page 33
 Financial Ratios

19,361,030,619
46.50
416,399,011
46.50 or 47 days

24,029,928,391.50
71.91
334,178,161.26
71. 91 or 72 days

2022

116,954,788,444
2.49
55,881,358,761

116,954,788,444
0.88
152,656,819,912

Page 34
 Financial Ratios

43,678,738,143
0.32
152,656,819,912

43,678,738,143
0.47
109,767,733,832

116,954,788,444 - 83,489,653,157
26%
116,954,788,444

12,716,395,019
10%
116,954,788,444

24,245,879,798
10%
116,954,788,444

Page 35
 Financial Ratios

24,245,879,798
9%
153,446,471,975.00

24,245,879,798
12%
109,767,733,832

24,245,879,798
13%
( 97,784,161,934 + 109,767,733,832) / 2

23,323,672,422
6.39
2,203,752,076

Page 36
 Financial Ratios

128
21.28
10.58

128
2.5685
49.71

Page 37
 Financial Ratios

2021

1.73

1.00

3.05

117.93

118 days

Page 38
 Financial Ratios

(16,596,264,658+16,766,426,332)/2
51.35
116,954,788,444/ 360
51 days

(24,831,836,720+22,578,884,570)/2
99.60
85,682,310,153/360
99.6 days
85,682,310,153

2021

2.09

0.77

Page 39
 Financial Ratios

0.29

0.40

29%

11%

21%

Page 40
 Financial Ratios

16%

22%

23%

10.58

Page 41
 Financial Ratios

12.10

2.5749

Page 42