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HORIZONTAL ANALYSIS - Income Statement 2020 Amount 2019 Amount Percent P 12,222,341,393.00 P 22,365,831,939.00 45% REVENUES Revenue from contracts with customers - net sales Rental income 61.993.815.00 12,284,335,208.00 (7,287,406,758.00) 4,996,928,450.00 76,070,748,00 22,441,902,687.00 (12,346,225,569.00) 10,095,677,118.00 -19% -45% 41% -51% COSTS OF GOODS SOLD AND SERVICES GROSS PROFIT OPERATING EXPENSES Selling and distribution General and administrative 4,184,957,968.00 1,115,966,288.00 5,300,924,256.00 7,095,912,730.00 1,299,092,427.00 8,395,005,157.00 41% -14% -37% 20,469,380.00 106,392,946.00 28% -112% OTHER INCOME (CHARGES) Interest income Share in net earnings (losses) of an associate and joint venture Gain on remeasurement of right-of-use assets and lease liabilities Gain on sale of interest in joint venture Foreign exchange losses - net Loss on stores closures and disposals ofproperty and equipment and other assets (Notes 7 and 10) Interest expense Others - net 26,157,099.00 (13,148,422.00 7,307,158.00 3,730,966.00 (16,058,981.00) (219,832,803.00) (535,902,141.00) 38,330,308.00 (709.416,816.00 (1,013,412,622.00) (16,786,745,00 (60,403,364.00) (549,866,677.00 31,025.242.00 (469,169,018.00) 1,231,502,943.00 -4% 264% -3% 24% 51% -182% INCOME (LOSS) BEFORE INCOME TAX PROVISION FOR (BENEFIT FROM) INCOME TAX Current Deferred 126,074,876.00 (235,683.284.00) 392,469,642.00 23,542,684.00 -68% -1101% (109,608,408.00) (903,804,214.00) 416,012,326.00 815.490,617.00 -126% -211% 88.981.00 (46,312.00) -292% NET INCOME (LOSS) OTHER COMPREHENSIVE INCOME (LOSS) Other comprehensive income (loss) to be reclassified to profit or loss in subsequent periods: Cumulative translation adjustment on foreign operations Other comprehensive income (Loss) not to be reclassified to profit or loss in subsequent periods:Re-measurement gain (loss) on retirement benefit, net of deferred tax TOTAL OTHER COMPREHENSIVE INCOME (LOSS) TOTAL COMPREHENSIVE INCOME (LOSS) BASIC/DILUTED EARNINGS (LOSS) PER SHARE (62.434.209.00) (62,345.228.00) (966,149,442.00) (0.27) (148.583.252.00) (148,629,564.00) 666,861,053.00 0.25 -58% -58% -245% P 1) Provide analysis/conclusion for the horizontal analysis income statement. VERTICAL ANALYSIS - Income Statement 2020 Amount 2019 Amount Percent Percent P 12,222,341,393.00 100% P 22.365.831.939,00 100% REVENUES Revenue from contracts with customers - net sales Rental income 1% 0.34% 61,993,815,00 12,284,335,208.00 (7,287,406,758.00) 76,070,748,00 22,441,902,687.00 (12,346,225,569.00) COSTS OF GOODS SOLD AND SERVICES -60% -55.20% 4,996,928,450.00 41% 10.095.677.118.00 45% GROSS PROFIT OPERATING EXPENSES Selling and distribution General and administrative 4,184.957,968.00 1,115,966,288.00 5,300,924,256.00 34% 9% 7,095,912,730.00 1,299,092,427,00 8,395,005,157.00 32% 6% OTHER INCOME (CHARGES) Interest income 26,157,099.00 0.21% 20,469,580.00 0.09% 106.392.946.00 0.48% Share in net earnings (losses) of an associate and joint venture Gain on remeasurement of right-of-use assets and lease liabilities Gain on sale of interest in joint venture Foreign exchange losses - net Loss on stores closures and disposals ofproperty and equipment and other assets (Notes 7 and 10) Interest expense Others - net -0.11% 0.06% 0.03% -0.13% (13.148,422.00) 7,307,158.00 3.730,966,00 (16,058,981.00 (219,832,803,00) (535,902,141.00) 38,330,308.00 (709,416,816.00) (1,013,412,622.00) (16,786,745.00) (60,403,364,00) (549,866,677.00) 31.025,242.00 (469,169,018.00) 1,231,502,943.00 -0.08% -0.27% -2% 0.14% -4% 0.31% -8% 6% INCOME (LOSS) BEFORE INCOME TAX PROVISION FOR (BENEFIT FROM) INCOME TAX Current Deferred 126,074,876.00 (235.683.284.00 1% -2% 392,469,642.00 23.542,684.00 2% 0.11% (109.608,408.00) (903,804,214.00) 416,012.326,00 815,490,617.00 NET INCOME (LOSS) -7% 4% OTHER COMPREHENSIVE INCOME (LOSS) Other comprehensive income (loss) to be reclassified to profit or loss in subsequent periods: 88,981.00 0.001% (46,312.00) -0.0002% Cumulative translation adjustment on foreign operationsOther comprehensive income (loss) not to be reclassif or loss in subsequent periods:Re-measurement gain (loss) on retirement benefit net of deferred tax TOTAL OTHER COMPREHENSIVE INCOME (LOSS) TOTAL COMPREHENSIVE INCOME (LOSS) BASIC/DILUTED EARNINGS (LOSS) PER SHARE -1% -1% (62,434,209.00) (62,345,228.00) (966,149,442.00) (0.27) (148,583,252.00) (148,629,564.00) 666.861,053.00 0.25 -1% -1% 3% P 2) Provide analysis/conclusion for the vertical analysis income statement. HORIZONTAL ANALYSIS - Cash Flow Statement 2020 2019 Amount Amount Percent 1,013,412,622 1,231,502,943 -18% 1,128,196,981 2,051, 127,090 45% CASH FLOWS FROM OPERATING ACTIVITIES Income (loss) before income tax Adjustments to reconcile income before income tax to net cash flows: Depreciation and amortization Interest expense Retirement expense Loss on stores closures and disposals of property and equipment and other assets 535,902, 141 83,881.848 549,866,677 65,911,077 -39% 27% 219,832,803 60,403,364 264% -112% 13,148,422 19,694,157 44,607,2281 4.249,976 (106,392.946) 0 (9.402 379 3.759.307 7,056,917 0 -574% 13% -94% 392.940 (3.730,966) (7,307,158) (26,157,099) 999, 298,651 0 (20,469,580) 3,833,362.470 28% -74% 2.654,465 (72, 151,061 -104% -203% 590, 146,995 383,827,470 (573 690,134 (114,273,856) (379,736,705) 9.937.500 415,287 1.606,543.663 11,568,066 (6.334,414) (18.644.2403 (257,692.698) 1,335,440,377 1,054,946,814 (298353) (13,905,553) 4.113.990,327 8,057,398 (9.885.000 (3.124.6401 (333,127 845) 3,775.910.240 -136% -3431% -103% -61% 44% -36% 497% -23% -65% Share in net loss (eamings) of an associate and joint venture Provision for inventory obsolescence Provision (reversal) for ECL Unrealized foreign exchange loss-net Loss on derecognition of franchise cost Gain on sale on interest in joint venture Gain on remeasurement of right of assets and lease liabilities Interest income Operating income before working capital changes Decrease increase) in: Trade and other receivables Merchandise inventories Prepayments and other current assets Increase (decrease) in Trade and other payables Deferred revenue Tenant deposits Net cash generated from operations Interest received Contributions Benefits paid Income taxes paid, including creditable withholding tax Net cash flows provided by operating activities CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from disposal of property and equipment Acquisitions of property and equipment Payment of franchise cost and software Cash receipts from amounts owed by related parties Cash receipts (payments) of Security deposits and construction bonds Other noncurrent assets Dividends received from investment in an associate Proceeds from sale of interests in joint ventures Net cash flows used in investing activities CASH FLOWS FROM FINANCING ACTIVITIES Short-term loans payable Principal portion of lease liabilities Long-term debt Interest Dividends payment Stock grant settlement Purchase of treasury shares Net cash flows provided by (used in) financing activities EFFECT OF EXCHANGE RATE CHANGES ON CASH NET INCREASE IN CASH CASH AT BEGINNING OF YEAR CASH AT END OF YEAR 1,88,037 (436,726,993) (960,963,076 (16.161.936) -55% -80% (3.243.725) 86,411,627 (4.723,481) -1929% (19.422,410) 40% (27,276,694) 44,022,85 5.480,966 (329,441,923) (1.001 270,903) -67% (2.800.000.000) (295, 117,840) (284,306,666) (535,543,123) (5,655.000.000 (1,088, 308, 169) (450,973.334 (548,618,081 (49.957.284) -50% -73% -37% -2% (12.789, 110) 1,807,243,262 (1.823,510) 2,811,416, 206 2,492,459,933 5,303,876,139 (10.545.460) (2.640.902.328) (1.738,000 131.999,009 2.360,460,924 2,492,459,933 21% -168% 5% 20.30% 6% 113% 3) Provide analysis/conclusion for the horizontal analysis - cash flow statement 2020 2019 Amount Percent Amount Percent 1,013,412,622 76% 1,231,502,943 33% 1,128,196,981 535,902,141 83,881,848 219,832,803 84% 40% 6% 2,051,127,090 549,866,677 65,911,077 54% 15% 2% 60,403,364 16% 2% (106,392,946) -3% (9,402,379) 3,759,307 7,056,917 CASH FLOWS FROM OPERATING ACTIVITIES Income (loss) before income tax Adjustments to reconcile income before income tax to net cash flows: Depreciation and amortization Interest expense Retirement expense Loss on stores closures and disposals of property and equipment and other assets Share in net loss (earnings) of an associate and joint venture Provision for inventory obsolescence Provision (reversal) for ECL Unrealized foreign exchange losses - net Loss on derecognition of franchise cost Gain on sale on interest in joint venture Gain on remeasurement of right-of-use assets and lease liabilities Interest income Operating income before working capital changes Decrease increase) in: Trade and other receivables Merchandise inventories Prepayments and other current assets Increase (decrease) in: Trade and other payables Deferred revenue Tenant deposits Net cash generated from operations Interest received Contributions Benefits paid Income taxes paid, including creditable withholding tax Net cash flows provided by operating activities 1% 1% 3% 0.32% 0.03% -0.28% -1% -2% 75% -0.25% 0.10% 0.19% 13,148,422 19,694,157 44,607,228 4,249,976 392,940 (3,730,966) (7,307,158) (26,157,099) 999,298,651 2,654,465 590), 146,995 383,827,470 -0.54% 101.52% (20,469,580) 3,833,362,470 (72,151,061) (573,690,134) (114,273,856) 0.20% 44% 29% -1.91% -15.19% -3.03% (379,736,705) 9,937,500 415.287 1,6136,543,663 11,568,066 (6,334,414) (18,644,240) (257,692,698) 1,335,440,377 -28% 1% 0.03% 120% 1% -0.47% -1% -19% 100% 1,054,946,814 (298,353) (13,905,553) 4,113,99),327 8,057,398 (9,885,000) (3,124,640) (333,127,845) 3,775,910,240 27.94% -0.01% -0.37% 108.95% 0.21% -0.26% -0.08% 8.82% 100.00% 1,888,037 (436,726,993) (3,243,725) - 1% 133% 1% (960,963,076) (16,161,936) 96% 2% (4,723,481) -26% 8% - 13% 0.47% 2% 86,411,627 (27,276,694) 44,022,859 5,480,966 (329,443,923) (19,422,410) 100% (1,001,270,903) 100% CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from disposal of property and equipment Acquisitions of property and equipment Payment of franchise cost and software Cash receipts from amounts owed by related parties Cash receipts (payments) of: Security deposits and construction bonds Other noncurrent assets Dividends received from investment in an associate Proceeds from sale of interests in joint ventures Net cash flows used in investing activities CASH FLOWS FROM FINANCING ACTIVITIES Short-term loans payable Principal portion of louse Liabilities Long-term debt Interest Dividends payment Stock grant settlement Purchase of treasury shares Net cash flows provided by (used in) financing activities EFFECT OF EXCHANGE RATE CHANGES ON CASH NET INCREASE IN CASH CASH AT BEGINNING OF YEAR CASH AT END OF YEAR (2.800,000,000) (295,117,840) (284,306,666) (535,543,122) -155% -16% -16% -30% (5,655,000,000) (1,088,308,169) (450,973,334) (548,618,081) (49,957,284) 214% 41% 17% 21% 2% - 1% 100% 0.40% 100% (12,789,110) 1,807,243,262 (1,823,510) 2,811,416,206 2,492,459,933 5,303,876,1391 (10,545,460) (2,640,902,328) (1,738,000) 131,999,009 2,360,460,924 2,492,459,933 4) Provide conclusions/analysis for the vertical analysis - cash flow statement