UNIVERSAL ROBINA CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

September 30
2000

1999

3,458,225,894

2,821,669,564

156,947,637
5,105,744,357
4,029,906,048
125,627,746
12,876,451,682

229,899,420
4,291,400,021
3,974,447,667
45,223,751
11,362,640,423

834,960,774
11,946,790,125
1,636,013,808
27,294,216,389

3,199,563,611
9,346,955,378
354,776,397
24,263,935,809

Liabilities
Loans payable
Accounts payable and accrued expenses
Payable to affiliated companies
Income tax payable
Deferred tax liabilities
Current portion of long-term debt
Total current liabilities

1,372,450,000
3,286,626,487
941,582,442
158,296,210
53,222,515
5,812,177,654

1,120,500,000
2,510,732,521
703,130,016
99,097,342
133,217,131
56,797,528
4,623,474,538

Long-term debt - net of current portion

Deferred tax liabilities
Deferred credit
Minority interest in subsidiaries

3,501,137,900
40,400,111
24,097,982
1,129,492,527

3,692,153,003
40,347,849
32,127,976
131,595,911

ASSETS
Current assets
Cash and cash equivalents
Marketable securities - net of allowance for
market decline amounting to P127M
in 1999 and P272M in 1998
Receivables - net
Inventories - net
Other current assets
Total current assets
Equity investments and advances
Property, plant and equipment - net
Other assets

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Ratio
2.22
Acid Test
1.52

Stockholder's equity
Capital stock
Additional paid-in capital
Revaluation increment in property - net
Accumulated translation adjustment
Retained earnings

10,507,306,174

8,519,699,277

1,487,825,451
6,668,951,032
86,133,176
229,611,887
8,314,388,669
16,786,910,215
27,294,216,389

1,487,825,451
6,668,951,032
90,226,854
7,517,233,195
15,764,236,532
24,283,935,809

27294216389.00

UNIVERSAL ROBINA CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME AND RETAINED EARNINGS

Net sales
Cost of goods sold
Gross profit
Operating expenses
Income from operations
Other income (charges)
Investment income
Interest expense and financing charges
Equity in net earnings of affiliated
companies (including goodwill amortization)
Miscellaneous - net
Income before income tax and minority interest
Provision for income tax
Current:
Income tax
Final witholding tax on interest
Deferred income tax benefit
Income before minority interest in net income
(loss) of subsidiaries)
Minority interest in net income
(loss) of subsidiaries)
Net income
Retained earnings, beg
Cash dividends - P0.05/share
Transfer of revaluation increment deducted from
operations thru additional depreciation
Retained earnings, end

Years Ended September 30

2000
1999
15,705,503,256
13,767,597,520
11,309,195,615
9,675,511,836
4,396,307,641
4,092,085,684
3,091,195,533
2,517,923,243
1,305,112,108
1,574,162,441

1998
12,313,881,546
8,519,853,579
3,794,027,967
2,366,685,855
1,427,342,112

480,472,687
(561,620,434)

569,780,568
(956,003,183)

1,173,770,183
(1,132,213,683)

64,686,719
(403,878,165)
884,772,915

51,219,472
(81,871,378)
1,157,287,920

48,640,068
(700,477,132)
817,061,548

1,446,393,349

2,113,291,103

1,949,275,231

212,061,662
8,849,277
220,910,939
(166,824,588)
54,086,351

245,636,452
245,636,452
245,636,452

194,738,145
194,738,145
194,738,145

830,686,564

911,651,468

622,323,403

(36,766,232)
867,452,796

5,862,865
905,788,603

6,003,368
616,320,035

7,517,233,195
(74,391,000)

6,681,741,904
(74,391,000)

6,135,701,918
(74,391,000)

4,093,678
8,314,388,669

4,093,678
7,517,233,185

4,110,951
6,681,741,904

Earnings per share

0.58
503122621.7

0.61
552531047.8

0.41
252691214.4

5.63352

8.40588

18.87

11.49

UNIVERSAL ROBINA CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS
2000
CASH FLOWS FROM OPERATING ACTIVITIES
Net income
Adjustments to net income, depreciation
and amortization
Provision for (recovery from):
Decline in value of securities
Inventory obsolescence
Doubtful accounts
Amortization of:
Deferred foreign exchange losses
Preoperating expenses
Goodwill
Dividends received from affiliates
Unrealized foreign exchange gain
Gain on bonds reacquisition
Deferred income tax
Equity in net earnings of investee
Minority interest in net income of subsidiaries
Gain on disposal of property
Changes in operationg assets and liabilities
Decrease (increase) in:
Marketable securities
Receivables
Inventories
Other current assets
Increase (decrease) in:
Accounts payable
Payable to affiliates
Income tax payable
Net cash provided by operations

Years Ended September 30

1999

1998

867,452,796

905,788,613

616,320,035

1,227,099,564

971,131,879

771,151,890

72,335,583
46,000,000

(145,113,231)
1,800,000
30,800,000

243,829,719
2,584,624
250,000

9,145,861
62,289,092
19,999,980
8,836,204
(48,658,342)
(166,824,588)
(64,686,719)
(36,766,232)
(15,301,491)

8,115,628
4,845,441
22,500,000
(255,121,620)
(60,163,188)
83,607,946
(51,219,472)
5,862,865
(6,133,204)

70,826,561
6,014,195
4,845,441
20,000,000
(136,045,729)
(58,608,307)
(48,640,068)
6,003,368
(1,043,863)

616,200
284,403,650
48,108,964
(14,397,949)

(16,560,332)
3,518,332,447
(201,668,619)
47,781,838

(36,343,712)
(4,867,495,505)
(422,869,736)
(39,444,684)

171,681,763
256,579,656
22,218,289
5,315,066,699

(506,201,308)
(2,301,268,192)
(67,844,246)
(6,743,979,517)

560,298,550
136,806,649
59,198,868
3,055,956,640

CASH FLOWS FROM INVESTING ACTIVITIES

Additions to property, plant and equipment
Proceeds from sale of property
Decrease (increase) in other assets
Increase in minority interest
Dividends paid to minority interest
Increase in equity investments
Net cash from investing activities

(3,047,225,750)
15330000
289980948
1023810823
(654,734,651)
(2,372,838,630)

(1,756,967,416)
13,928,869
101,301,619
1,500,393
(4,440,000)
(269,655,402)
(1,914,331,937)

(1,544,862,835)
27,872,231
(364,912,038)
968,000
(2,040,003)
(352,887,855)
(2,235,862,500)

CASH FLOWS FROM INVESTING ACTIVITIES

Net availments (payments) of:
Loans
Long-term debt
Payment of cash dividends
Net cash provided by financing

251,950,000
(224,120,680)
(74,391,000)
(46,561,680)

(2,798,329,700)
(568,994,393)
(74,391,000)
(3,441,715,093)

1,132,350,700
544,063,500
(74,391,000)
1,602,023,200

(40,980,331)
2,821,641,895
2,780,661,564

(7,377,818,817)
10,240,460,712
2,862,641,895

953,286,772
139,810,217

1,186,377,890
321,190,698

Net cash increase (decrease)

Cash, beginning
Cash, ending

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

Cash paid during the year of:
Interest
Income taxes

636,556,330
2,821,669,564
3,458,225,894

470,248,842
161,712,071

SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES

Additions (reductions) due to foreign exchange differentials:
Equity advances
Property, plant and equipment
(19,127,778)
Other assets
-

688,632,635
(65,827,009)
(433,511,015)

102,379,545
-

Two foreign subsidiaries purchased majority capital of various

companies for P2.8B; liabilities were assumed:
Fair value of assets acquired
Consideration paid
Liabilities assumed

2,999,885,085
2,773,437,644
226,447,441

2,673,492,913

GMA NETWORK, INC.

CONSOLIDATED BALANCE SHEETS (Peso Million)
2009
Current assets
Cash and equivalents
Short-term investments
Trade/other receivables
Program rights
Prepaid expenses
Total current assets
Non-current assets
Available for sale financials
Investments and advances
Property and equipment - cost
Land at revalued amounts
Investment properties
Deferred taxes
Other non-current
Total non-current assets
TOTAL ASSETS
Current liabilities
Notes payable
Trade payables
Income tax payable
Obligations from programs
Dividends payable
Total current liabilities
Non-current liabilities
Pension liability
Deferred tax liabilities
Total non-current liabilities

2008

2007

2,200
24
5,310
640
386
8,560

1,688
2
4,460
843
290
7,283

1,019
3
4,759
817
290
6,888

105
394
3,024
1,403
60
42
175
5,203
13,763

97
406
3,023
1,403
64
36
154
5,183
12,466

99
363
2,680
1,380
41
31
201
4,795
11,683

1,961
408
61
3
2,433

1,631
510
110
2
2,253

311
1,711
625
85
2,732

281
169
450

289
169
458

274
141
415

TOTAL LIABILITIES
Equity
Capital stock
Additional paid-in
Revaluation increment
Retained earnings
Treasury stock
Others-net
TOTAL EQUITY
TOTAL LIABILITIES/EQUITY

2,883

2,711

3,147

4,865
1,659
744
3,644
(28)
(3,619)
7,265
10,148

4,865
1,651
744
2,527
(28)
(3,947)
5,812
8,523

4,865
1,593
734
1,372
(21)
(4,049)
4,494
7,641

GMA NETWORK, INC.

CONSOLIDATED STATEMENTS OF INCOME AND RETAINED EARNINGS (Peso Million)
2009
Gross revenues
Less: Agency commissions
Co-producers' share
Net revenues

2008

2007

13,771
1,961
210
11,600

12,497
1,785
162
10,550

12,057
1,748
122
10,187

Production costs
Gross profit

4,389
7,211

4,103
6,447

3,949
6,238

General/administration
Interest expense
Other income (net)
Income before tax

3,452
(9)
90
3,678

3,059
(9)
144
3,253

2,922
(23)
159
3,180

Provision for tax

Net income

1,021
2,657

1,154
2,099

1,144
2,036

GMA NETWORK, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS (Peso Million)
2009
Net cash provided by operating activities

2008
2,787

2007
2,930

2,072

Net cash used in investing activities

(567)

(792)

(353)

Net cash used in financing activities

(1,701)

(1,483)

(984)

(7)

(12)

(22)

Effect of foreign exchange rate

Net increase in cash and cash equivalents

512

643

713

Cash/cash equivalents, beginning of year

1,688

1,019

307

Cash/cash equivalents, ending of year

2,200

1,662

1,020

Net cash provided by operations

4,912

3,967

2,753

CASH FLOWS FROM INVESTING ACTIVITIES

Net cash from investing activities

4,912

3,967

2,753

Net cash increase (decrease)

4,912

3,967

2,753

Cash, ending

4,912

3,967

2,753

CASH FLOWS FROM INVESTING ACTIVITIES

Net cash provided by financing

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

Cash paid during the year of:
Interest
Income taxes

SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES

ALASKA MILK CORPORATION

CONSOLIDATED BALANCE SHEETS (Thousand Pesos)
2008

December 31
2007

ASSETS
Current assets
Cash and cash equivalents
Trade and other receivables
Inventories
Prepaid expenses
Total current assets

173,705
886,050
1,945,376
40,742
3,045,873

136,340 asset/net sales=

821,447
2,677,296
93,414
3,728,497

Non-current assets
Available for sale investments
Property, plant and equipment
Intangible assets
Others
Total non-current assets
TOTAL ASSETS

2,556
1,334,705
1,653,584
270,528
3,261,373
6,307,246

2,556
1,210,652
1,806,015
378,242
3,397,465
7,125,962

175,000
1,647,747
813,638
143,800
2,780,185

800,000
1,351,894
1,090,993
150,530
3,393,417

27,917

967,095
100,590

966,205
101,780

1,625,000
1,086,124
(289,663)

945,000
1,752,849
(33,289)

LIABILITIES AND EQUITY

Current liabilities
Bank loans
Trade and other payables
Acceptances payable
Others
Total current liabilities
Non-current liability
Equity
Capital stock
Additional paid-in capital
Retained earnings:
Appropriated for investments
Free retained earnings
Treasury stock

Total stockholders' equity

TOTAL LIABILITIES AND EQUITY

3,489,146
6,297,248

3,732,545
7,125,962

ALASKA MILK CORPORATION

CONSOLIDATED STATEMENTS OF INCOME AND RETAINED EARNINGS (Thousand Pesos)
December 31
Net sales
Cost of sales
Gross profit

2008
9,967,757
(7,903,816)
2,063,941

2007
9,081,801
(6,694,634)
2,387,167

Operating expenses
Interest expense
Others
Income before income tax
Provision for income tax
Net income

(1,599,921)
(60,322)
29,970
433,668
(142,570)
291,098

(1,437,278)
(5,596)
47,475
991,768
(324,678)
667,090

Sales

(2008/2007)-1

(2008/2007)=

1.097552897

Growth of Sales
9.755%
-79.29%
20.71%
-16.05%
-0.61%
0.30%
4.35%
-1.43%
2.92%

2009
10,940,140.57
(8,674,856.15)
2,265,284.42
(1,755,997.93)
(66,206.59)
32,893.66
475,973.57
(156,478.12)
319,495.45

2010
12,007,382.98
(9,521,113.50)
2,486,269.48
(1,927,300.61)
(72,665.23)
36,102.53
522,406.17
(171,743.01)
350,663.16

2011
13,178,737.98
(10,449,925.71)
2,728,812.27
(2,115,314.37)
(79,753.93)
39,624.44
573,368.41
(188,497.04)
384,871.37

2012
14,464,362.06
(11,469,346.24)
2,995,015.82
(2,321,669.42)
(87,534.16)
43,489.92
629,302.16
(206,885.47)
422,416.68

1,405,619.45

1,756,282.61

2,141,153.98

2,563,570.67

ALASKA MILK CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS (Thousand Pesos)
December 31
2008
2007
CASH FLOWS FROM OPERATIONS
Income before income tax
Adjustments for:
Depreciation and amortization
Interest expense
Others
Income before working capital changes
Decrease (increase) in:
Trade and other receivables
Inventories
Prepaid expenses
Increase (decrease) in:
Trade and other payables
Acceptances payable
Net cash provided by (used in) operations
Income tax paid
Net cash provided by (used in) operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisitions of property
Others
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from/payments of loans
Acquisition of treasury shares
Payment of dividends
Interest paid
Proceeds from sale of shares
Net cash provided (used in) financing activities
Effect of exchange rates
Net increase (decrease) in cash and equivalnts
Beginning cash

433,668

991,764

325,145
60,322
(12,030)
807,105

249,122
5,596
(30,630)
1,215,852

(9,960)
731,920
56,664

(269,775)
(1,748,785)
(23,401)
422,267
366,132

296,019
(266,059)
1,615,689
(213,733)
1,401,956

(37,710)
(351,072)
(388,782)

(240,116)
24,290
(215,826)

(318,314)
(53,190)
(371,504)

(625,000)
(256,374)
(209,297)
(61,387)
3,070
(1,148,988)

800,000
(261,338)
(3,290)
11,190
546,562

(684)

(2,163)

36,458
136,340

(215,887)
352,227

Payment of dividends

209,297

Ending cash

172,798

136,340

261338