Professional Documents
Culture Documents
ASSETS
Current Assets
Cash and Cash Equivalents (Notes 6,30,31) ₱ 9,903,877,068 ₱ 7,618,473,267 ₱ 11,497,559,629 ₱ 16,733,346,023 ₱ 21,107,474,000 ₱ 23,285,915,000 0.141 0.178 0.230 0.235 0.205 -0.231 0.509 0.455 0.261 0.103
Short-term Investments (Notes 6,30 and 31) 922,317,012 726,002,456 1,413,400,000 883,200,000 0.000 0.014 0.010 0.016 0.008 -0.213 0.947 -0.375
Receivables (Notes 7,30 and 31) 3,082,872,678 7,937,404,797 5,432,775,539 3,376,701,591 3,941,073,000 4,862,744,000 0.147 0.084 0.046 0.044 0.043 1.575 -0.316 -0.378 0.167 0.234
Inventories (Note 8) 3,560,432,134 5,971,813,991 5,478,416,309 5,987,346,224 6,835,514,000 8,812,174,000 0.110 0.085 0.082 0.076 0.077 0.677 -0.083 0.093 0.142 0.289
Derivative asset ( Note 18) 9,868,242 0.000 0.000 0.000 0.000 0.000 -1.000
Other current assets (Note 9) 1,836,995,105 2,493,699,399 3,828,229,080 3,545,338,285 4,031,459,000 4,894,168,000 0.046 0.059 0.049 0.045 0.043 0.357 0.535 -0.074 0.137 0.214
Total Current Assets 18,384,176,985 24,021,391,454 27,169,165,811 30,368,734,579 37,328,920,000 42,738,201,000 0.444 0.420 0.418 0.416 0.375 0.307 0.131 0.118 0.229 0.145
Noncurrent Assets+A:G
Financial assets at fair value through P/L (Notes 10,30 and 31) 39,842,000 0.000 0.000 0.000 0.000 0.000
Available-for-sale financial assets (Notes 10, 30 and 31) 21,479,461 21,479,461 21,462,462 26,212,462 29,862,000 0.000 0.000 0.000 0.000 0.000 0.000 -0.001 0.221 0.139 -1.000
Interests in and advances to joint ventures, co-ventures and an associate (Note
11) 3,322,393,765 3,388,902,606 8,449,310,264 9,873,296,708 7,492,771,000 3,512,230,000
0.063 0.130 0.136 0.083 0.031 0.020 1.493 0.169 -0.241 -0.531
Property, plant and equipment (Note 12) 11,772,440,510 13,363,567,166 14,547,151,906 16,655,567,285 20,893,814,000 26,693,991,000 0.247 0.225 0.229 0.233 0.234 0.135 0.089 0.145 0.254 0.278
Investment properties (Note 13) 751,767,041 1,025,645,035 998,113,493 983,427,881 848,974,000 848,974,000 0.019 0.015 0.014 0.009 0.007 0.364 -0.027 -0.015 -0.137 0.000
Goodwill and other intangible assets (Note 14) 9,103,636,848 9,385,110,293 9,412,134,199 9,086,742,354 15,730,239,000 31,830,057,000 0.173 0.145 0.125 0.175 0.280 0.031 0.003 -0.035 0.731 1.023
Operating lease receivables (Notes 29,30,31) 21,267,251.00 21,089,606.00 12,516,788.00 25,994,919.00 28,035,000.00 31,635,000.00 0.000 0.000 0.000 0.000 0.000 -0.008 -0.406 1.077 0.078 0.128
Derivative asset ( Note 11) 75,031,052.00 78,329,324.00 11,949,000.00 82,852,000.00 0.000 0.001 0.001 0.000 0.001 0.044 -0.847 5.934
Deferred tax assets-net (Note 24) 756,196,860.00 751,965,318.00 1,408,488,536.00 2,585,494,838.00 3,908,813,000.00 4,322,996,000.00 0.014 0.022 0.036 0.044 0.038 -0.006 0.873 0.836 0.512 0.106
Other noncurrent assets (Notes 15,30 and 31) 1,893,275,392.00 2,139,528,661.00 2,669,673,900.00 3,044,551,908.00 3,510,518,000.00 3,751,044,000.00 0.040 0.041 0.042 0.039 0.033 0.130 0.248 0.140 0.153 0.069
Total Noncurrent Assets 27,642,457,128 30,097,288,146 37,593,882,600 42,359,617,679 52,454,975,000 71,113,621,000 0.556 0.580 0.582 0.584 0.625 0.089 0.249 0.127 0.238 0.356
Total Assets 46,026,634,113 54,118,679,600 64,763,048,411 72,728,352,258 89,783,895,000 113,851,822,000 1.000 1.000 1.000 1.000 1.000 0.176 0.197 0.123 0.235 0.268
LIABILITIES AND EQUITY
Current Liabilities
Trade payables and other current liabilities (Notes 16,30 and 31) 14,249,926,021 16,295,665,174 19,527,045,864 21,960,567,220 25,254,613,000 28,716,769,000 0.301 0.302 0.302 0.281 0.252 0.144 0.198 0.125 0.150 0.137
Income tax payable 154,744,537 181,829,126 235,980,000 309,331,420 223,773,000 263,473,000 0.003 0.004 0.004 0.002 0.002 0.175 0.298 0.311 -0.277 0.177
Short-term debt (Notes 18,30 and 31) 1,865,000,000 282,360,000 0.034 0.004 0.000 0.000 0.000 -0.849 -1.000
CP- Long-term debt (Notes 18,30 and 31) 1,106,275,244 715,520,000 927,916,273 1,561,515,860 1,216,219,000 4,892,102,000 0.013 0.014 0.021 0.014 0.043 -0.353 0.297 0.683 -0.221 3.022
CP-Operating lease payable (Notes 29,30,31 and 32) 252,235,000 300,945,000 0.000 0.000 0.000 0.003 0.003
CP-Liability for acquisition of businesses (Notes 11,30 and 31) 107,666,875 32,906,018 94,852,231 11,238,000 0.001 0.001 0.000 0.000 0.000 -0.694 1.883 -1.000
Total Current Liabilities 15,618,612,677 19,090,920,318 21,068,154,368 23,831,414,500 26,946,840,000 34,184,527,000 0.353 0.325 0.328 0.300 0.300 0.222 0.104 0.131 0.131 0.269
Noncurrent Liabilities
Provisions (Note 17) 30,500,639 30,500,639 30,500,639 30,500,639 825,109,000 825,109,000 0.001 0.000 0.000 0.009 0.007 0.000 0.000 0.000 26.052 0.000
NCP-Long-term debt (Notes 18,30 and 31) 4,062,970,500 4,428,012,970 8,790,712,333 10,593,849,717 14,901,052,000 21,372,251,000 0.082 0.136 0.146 0.166 0.188 0.090 0.985 0.205 0.407 0.434
NCP-Liability for acquisition of businesses (Notes 11,30 and 31) 129,007,932 101,064,311 2,907,000 0.002 0.000 0.000 0.000 0.000 -0.217 -1.000
Pension Liability (Note 25) 932,841,109 832,390,250 1,466,530,394 1,658,178,475 1,489,546,000 1,320,646,000 0.015 0.023 0.023 0.017 0.012 -0.108 0.762 0.131 -0.102 -0.113
Operating lease payables (Notes 29,30 and 31) 1,569,071,461 1,544,846,191 1,615,639,498 1,792,896,874 1,799,332,000 2,715,978,000 0.029 0.025 0.025 0.020 0.024 -0.015 0.046 0.110 0.004 0.509
Derivative liability (Notes 18,30 and 31) 4,532,600 1,545,472 34,921,275 33,530,586 51,042,000 0.000 0.001 0.000 0.001 0.000 -0.659 21.596 -0.040 0.522 -1.000
Deferred tax liabilities-net (Note 24) 318,157,118 11,377,928 506,576,982 1,188,995,000 3,512,253,000 0.000 0.000 0.007 0.013 0.031 -0.964 -1.000 1.347 1.954
Total Noncurrent Liabilities 7,047,081,359 6,949,737,761 11,938,304,139 14,615,533,273 20,255,076,000 29,749,144,000 13% 18% 20% 23% 26% - 0.014 0.718 0.224 0.386 0.469
Total Liabilities 22,665,694,036 26,040,658,079 33,006,458,507 38,446,947,773 47,201,916,000 63,933,671,000 0.481 0.510 0.529 0.526 0.562 0.149 0.267 0.165 0.228 0.354
Equity Atributable to Equity Holders of the Parent Company (Note 30)
Capital Stock (Note 19) 1,051,430,791 1,063,862,430 1,086,149,410 1,091,301,305 1,084,478,000 1,088,036,000 0.020 0.017 0.015 0.012 0.010 0.012 0.021 0.005 -0.006 0.003
Subscriptions receivable (Note 19) -17,177,884 (17,177,884) (17,177,884) (17,177,884) 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 -1.000
Additional paid-in capital (Note 19) 3,640,716,729 4,452,162,323 5,055,293,439 5,660,085,635 7,520,383,000 8,638,438,000 0.082 0.078 0.078 0.084 0.076 0.223 0.135 0.120 0.329 0.149
Cumulative translation adjustments of foreign subsidiaries and share in
cumulative translation adjustments of an interest in a joint venture 38,306,710 (25,789,376) 107,225,186 (20,811,094) 340,368,000 589,501,000
0.000 0.002 0.000 0.004 0.005 -1.673 -5.158 -1.194 -17.355 0.732
Remeasurement loss on net defined benefit plan- net of tax -472,054,212 (219,900,060) (536,579,937) (608,800,693) (461,769,000) (307,995) -0.004 -0.008 -0.008 -0.005 0.000 -0.534 1.440 0.135 -0.242 -0.999
Unrealized gain on change in fair value of available for-sale financial assets (Note 4,290,500 6,758,000
10) 0.000 0.000 0.000 0.000 0.000 0.575 -1.000
Comprehensive loss on derivative liability (Note 18) -3,411,504 (2,395,155) (35,449,264) (33,530,586) 11,949,000 82,852,000 0.000 -0.001 0.000 0.000 0.001 -0.298 13.800 -0.054 -1.356 5.934
Excess of cost over the carrying value of non-controling interests acquired (Note -542,764,486 (542,764,486) (542,764,486) (2,152,161,386) (2,152,161,000) (1,804,766,000)
19) -0.010 -0.008 -0.030 -0.024 -0.016 0.000 0.000 2.965 0.000 -0.161
Retained earnings- Appropriated for future expansion (Notes 19 and 30) 10,200,000,000 10,200,000,000 10,200,000,000 18,200,000,000 18,200,000,000 20,000,000,000 0.188 0.157 0.250 0.203 0.176 0.000 0.000 0.784 0.000 0.099
Retained earnings- Unappropriated (Notes 19 and 30) 8,817,166,243 12,445,662,470 15,487,039,084 11,659,631,772 16,413,140,000 20,257,995,000 0.230 0.239 0.160 0.183 0.178 0.412 0.244 -0.247 0.408 0.234
22,729,390,271 27,370,838,146 30,803,735,548 33,782,727,569 40,963,146,000 48,544,061,000 0.020 0.017 0.015 0.012 0.010 0.204 0.125 0.097 0.213 0.185
Less cost of common stock held in treasury (Note 19) 180,511,491 180,511,491 180,511,491 180,511,491 180,511,000 180,511,000 0.003 0.003 0.002 0.002 0.002 0.000 0.000 0.000 0.000 0.000
22,548,878,780 27,190,326,655 30,623,224,057 33,602,216,078 40,782,635,000 48,363,550,000 0.502 0.473 0.462 0.454 0.425 0.206 0.126 0.097 0.214 0.186
Non-Controlling Interests 812,061,297 887,694,866 1,133,365,847 679,188,407 1,799,344,000 1,554,601,000 0.016 0.018 0.009 0.020 0.014 0.093 0.277 -0.401 1.649 -0.136
Total Equity 23,360,940,077 28,078,021,521 31,756,589,904 34,281,404,485 42,581,979,000 49,918,151,000 0.519 0.490 0.471 0.474 0.438 0.202 0.131 0.080 0.242 0.172
TOTAL LIABILITIES and EQUITY 46,026,634,113 ₱ 54,118,679,600 ₱ 64,763,048,411 ₱ 72,728,352,258 ₱ 89,783,895,000 ₱ 113,851,822,000 1.000 1.000 1.000 1.000 1.000 0.176 0.197 0.123 0.235 0.268
JOLLIBEE FOODS CORPORATION AND SUBSIDIARIES
FINANCIAL STATEMENTS 2019
Consolidated Statement of Financial Position
ASSETS
Current Assets
Cash and Cash Equivalents (Notes 6,30,31) 24,511,489,473.68
Short-term Investments (Notes 6,30 and 31) 929,684,210.53
Trade payables and other current liabilities (Notes 16,30 and 31) 27,280,930,550.00
Income tax payable 250,299,350.00
Short-term debt (Notes 18,30 and 31) -
CP- Long-term debt (Notes 18,30 and 31) 4,647,496,900.00
CP-Operating lease payable (Notes 29,30,31 and 32) 285,897,750.00
CP-Liability for acquisition of businesses (Notes 11,30 and 31) 10,676,100.00
Total Current Liabilities 32,475,300,650.00
Noncurrent Liabilities
Provisions (Note 17) 783,853,550.00
NCP-Long-term debt (Notes 18,30 and 31) 20,303,638,450.00
NCP-Liability for acquisition of businesses (Notes 11,30 and 31) 2,761,650.00
Pension Liability (Note 25) 1,254,613,700.00
Operating lease payables (Notes 29,30 and 31) 2,580,179,100.00
Derivative liability (Notes 18,30 and 31) -
Deferred tax liabilities-net (Note 24) 3,336,640,350.00
Total Noncurrent Liabilities 28,261,686,800.00
Total Liabilities 60,736,987,450.00
Equity Atributable to Equity Holders of the Parent Company (Note 30)
Capital Stock (Note 19) 1,145,301,052.63
Subscriptions receivable (Note 19) -
Additional paid-in capital (Note 19) 9,093,092,631.58
Cumulative translation adjustments of foreign subsidiaries and share in
cumulative translation adjustments of an interest in a joint venture 620,527,368.42
noncurrent assets
increase by 2% each
year
both liabilities
decrease of 5% each
year
equity increase by
5% each year
2% increase in remeasurement loss
2% increase in excess
of cost
JOLLIBEE FOODS CORPORATION AND SUBSIDIARIES Vertical Analysis Horizontal Analysis
FINANCIAL STATEMENTS
2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
REVENUE
Net sales ₱ 86,209,777,710 ₱ 95,810,688,792 ₱ 107,924,454,000 ₱ 124,663,548,000 ₱ 150,200,826,000 100.00% 100.00% 100.00% 100.00% 100.00% 0.00% 11.14% 12.64% 15.51% 20.48%
Royalty, franchise fees and others (Note 20) 4,461,460,490 4,969,028,967 5,887,016,000 6,913,003,000 8,475,070,000 5.18% 5.19% 5.45% 5.55% 5.64% 0.00% 11.38% 18.47% 17.43% 22.60%
90,671,238,200 100,779,717,759 113,811,470,000 131,576,551,000 158,675,896,000 105.18% 105.19% 105.45% 105.55% 105.64% 0.00% 11.15% 12.93% 15.61% 20.60%
PFRS 15 impact on system-wide advertising fees 1,802,072,000 2,036,535,000 2,523,492,000 0.00% 0.00% 1.67% 1.63% 1.68% 0.00% 13.01% 23.91%
90,671,238,200 100,779,717,759 115,613,542,000 133,613,086,000 161,199,388,000 105.18% 105.19% 107.12% 107.18% 107.32% 0.00% 11.15% 14.72% 15.57% 20.65%
COST OF SALES (Note 21) 73,727,792,141 82,891,701,255 94,617,560,000 109,694,675,000 133,894,709,000 85.52% 86.52% 87.67% 87.99% 89.14% 0.00% 12.43% 14.15% 15.93% 22.06%
GROSS PROFIT 16,943,446,059 17,888,016,504 20,995,982,000 23,918,411,000 27,304,679,000 19.65% 18.67% 19.45% 19.19% 18.18% 0.00% 5.57% 17.37% 13.92% 14.16%
EXPENSES 0.00%
General and administrative expenses (Note 22) 8,953,711,295 10,288,042,741 11,861,440,000 13,905,845,000 15,461,474,000 10.39% 10.74% 10.99% 11.15% 10.29% 0.00% 14.90% 15.29% 17.24% 11.19%
Advertising and promotions 1,852,967,633 2,244,943,336 2,669,495,000 3,342,911,000 4,027,609,000 2.15% 2.34% 2.47% 2.68% 2.68% 0.00% 21.15% 18.91% 25.23% 20.48%
10,806,678,928 12,532,986,077 14,530,935,000 17,248,756,000 19,489,083,000 12.54% 13.08% 13.46% 13.84% 12.98% 0.00% 15.97% 15.94% 18.70% 12.99%
INTEREST INCOME (EXPENSE) (Note 23) 0.00%
Interest income 242,045,341 257,783,585 286,913,000 259,567,000 415,385,000 0.28% 0.27% 0.27% 0.21% 0.28% 0.00% 6.50% 11.30% -9.53% 60.03%
Interest Expense (152,471,253) (225,544,319) (267,618,000) (405,820,000) (888,843,000) -0.18% -0.24% -0.25% -0.33% -0.59% 0.00% 47.93% 18.65% 51.64% 119.02%
89,574,088 32,239,266 19,295,000 (146,253,000) (473,458,000) 0.10% 0.03% 0.02% -0.12% -0.32% 0.00% -64.01% -40.15% -857.98% 223.73%
EQUITY IN NET EARNINGS (LOSSES) OF JOINT VENTURES AND AN (126,174,100) (189,085,967) (337,145,000) (282,645,000) (86,750,000) -0.15% -0.20% -0.31% -0.23% -0.06% 49.86% 78.30% -16.17% -69.31%
ASSOCIATE (Note 11) 0.00%
OTHER INCOME (Note 23) 659,303,926 1,236,757,580 1,582,923,000 2,098,753,000 3,235,196,000 0.76% 1.29% 1.47% 1.68% 2.15% 0.00% 87.59% 27.99% 32.59% 54.15%
INCOME BEFORE INCOME TAX 6,759,471,045 6,434,941,306 7,730,120,000 8,339,510,000 10,490,584,000 7.84% 6.72% 7.16% 6.69% 6.98% 0.00% -4.80% 20.13% 7.88% 25.79%
PROVISION FOR INCOME TAX (Note 24) 0.00%
Current 1,694,768,550 1,926,077,984 2,334,855,000 2,310,630,000 2,822,092,000 1.97% 2.01% 2.16% 1.85% 1.88% 0.00% 13.65% 21.22% -1.04% 22.14%
Deferred (424,239,011) (537,470,070) (658,244,000) (643,702,000) (102,843,000) -0.49% -0.56% -0.61% -0.52% -0.07% 0.00% 26.69% 22.47% -2.21% -84.02%
1,270,529,539 1,388,607,914 1,676,611,000 1,666,928,000 2,719,249,000 1.47% 1.45% 1.55% 1.34% 1.81% 0.00% 9.29% 20.74% -0.58% 63.13%
NET INCOME 5,488,941,506 5,046,333,392 6,053,509,000 6,672,582,000 7,771,335,000 6.37% 5.27% 5.61% 5.35% 5.17% 0.00% -8.06% 19.96% 10.23% 16.47%
OTHER COMPREHENSIVE INCOME (LOSS) 0.00%
Other comprehensive income to be reclassified to p/l in subsequent
periods: 0.00%
Cumulative translation adjustments of foreign subsidiaries, joint venture (76,062,317) 144,873,513 (125,412,000) 366,854,000 285,214,000 -0.09% 0.15% -0.12% 0.29% 0.19% -290.47% -186.57% -392.52% -22.25%
and associates
0.00%
Comprehensive gain (loss) on derivative liability (Note 18) 1,882,127 (31,463,561) 2,368,000 45,479,000 70,903,000 0.00% -0.03% 0.00% 0.04% 0.05% 0.00% -1771.70% -107.53% 1820.57% 55.90%
Unrealized loss on available-for-sale financial assets- net (Note 10)
4,291,000 2,467,000 0.00% 0.00% 0.00% 0.00% 0.00% -42.51% -100.00%
0.00%
(74,180,190) 113,409,952 (118,753,000) 414,800,000 356,117,000 -0.09% 0.12% -0.11% 0.33% 0.24% 0.00% -252.88% -204.71% -449.30% -14.15%
Other comprehensive income to be reclassified to p/l in subsequent
periods: 0.00%
Remeasurement gains (losses) on net defined benefit plan- Net of tax 252,154,152 (316,679,877) (72,221,000) 147,032,000 153,774,000 0.29% -0.33% -0.07% 0.12% 0.10% 0.00% -225.59% -77.19% -303.59% 4.59%
177,973,962 (203,269,925) (190,974,000) 561,832,000 509,891,000 0.21% -0.21% -0.18% 0.45% 0.34% 0.00% -214.21% -6.05% -394.19% -9.24%
TOTAL COMPREHENSIVE INCOME 5,666,915,468 4,843,063,467 5,862,535,000 7,234,414,000 8,281,226,000 6.57% 5.05% 5.43% 5.80% 5.51% 0.00% -14.54% 21.05% 23.40% 14.47%
Net Income Attributable to: 0.00%
Equity holders of the Parent Company (Note 28) 5,361,978,768 4,928,236,228 6,164,735,000 7,109,120,000 8,329,884,000 6.22% 5.14% 5.71% 5.70% 5.55% 0.00% -8.09% 25.09% 15.32% 17.17%
Non-controlling interests 126,962,738 118,097,164 (111,226,000) (436,538,000) (558,549,000) 0.15% 0.12% -0.10% -0.35% -0.37% 0.00% -6.98% -194.18% 292.48% 27.95%
5,488,941,506 5,046,333,392 6,053,509,000 6,672,582,000 7,771,335,000 6.37% 5.27% 5.61% 5.35% 5.17% 0.00% -8.06% 19.96% 10.23% 16.47%
Total Comprehensive Income Attributable to: 0.00%
Equity holders of the Parent Company 5,551,053,183 4,711,516,804 5,970,688,000 7,665,277,000 8,803,694,000 6.44% 4.92% 5.53% 6.15% 5.86% 0.00% -15.12% 26.73% 28.38% 14.85%
Non-controlling interests 115,862,285 131,546,663 (108,153,000) (430,863,000) (522,468,000) 0.13% 0.14% -0.10% -0.35% -0.35% 0.00% 13.54% -182.22% 298.38% 21.26%
₱ 5,666,915,468 ₱ 4,843,063,467 ₱ 5,862,535,000 ₱ 7,234,414,000 ₱ 8,281,226,000 6.57% 5.05% 5.43% 5.80% 5.51% 0.00% -14.54% 21.05% 23.40% 14.47%
Earnings Per Share for Net Income Attributable to Equity Holders of the
Parent Company (Note 28)
Basic 5.075 4.618 5.747 6.580 7.663
Diluted 4.955 4.528 5.643 6.494 7.550
JOLLIBEE FOODS CORPORATION AND SUBSIDIARIES
FINANCIAL STATEMENTS
2019 2020 2021 2022 2023
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
REVENUE
Net sales ₱ 161,506,264,516 ₱ 175,550,287,518 ₱ 192,912,403,865 ₱ 214,347,115,406 ₱ 240,839,455,512
Royalty, franchise fees and others (Note 20) ₱ 9,112,978,495 ₱ 9,905,411,407 ₱ 10,885,067,480 ₱ 12,094,519,423 ₱ 13,589,347,666
₱ 170,619,243,011 ₱ 185,455,698,925 ₱ 203,797,471,346 ₱ 226,441,634,829 ₱ 254,428,803,178
PFRS 15 impact on system-wide advertising fees ₱ 2,713,432,258 ₱ 2,949,382,889 ₱ 3,241,080,098 ₱ 3,601,200,109 ₱ 4,046,292,257
₱ 173,332,675,269 ₱ 188,405,081,814 ₱ 207,038,551,444 ₱ 230,042,834,938 ₱ 258,475,095,436
COST OF SALES (Note 21) 131,216,814,820 128,592,478,524 126,020,628,953 123,500,216,374 121,030,212,047
GROSS PROFIT 42,115,860,449 59,812,603,290 81,017,922,491 106,542,618,564 137,444,883,389
EXPENSES
General and administrative expenses (Note 22) 15,152,244,520 14,849,199,630 14,552,215,637 14,261,171,324 13,975,947,898
Advertising and promotions 3,947,056,820 3,868,115,684 3,790,753,370 3,714,938,303 3,640,639,536
19,099,301,340 18,717,315,313 18,342,969,007 17,976,109,627 17,616,587,434
INTEREST INCOME (EXPENSE) (Note 23)
Interest income 423,862,245 432,512,495 441,339,280 450,346,204 459,536,943
Interest Expense (799,958,700) (719,962,830) (647,966,547) (583,169,892) (524,852,903)
1,223,820,945 1,152,475,325 1,089,305,827 1,033,516,097 984,389,846
EQUITY IN NET EARNINGS (LOSSES) OF JOINT VENTURES AND AN (88,520,408) (90,326,947) (92,170,354) (94,051,382) (95,970,798)
ASSOCIATE (Note 11)
OTHER INCOME (Note 23) 3,301,220,408 3,368,592,253 3,437,339,034 3,507,488,810 3,579,070,214
INCOME BEFORE INCOME TAX 10,704,677,551 10,923,140,358 11,146,061,590 11,373,532,235 11,605,645,137
PROVISION FOR INCOME TAX (Note 24) - -
Current 2,879,685,714 2,938,454,810 2,998,423,276 3,059,615,588 3,122,056,722
Deferred (104,941,837) (107,083,507) (109,268,885) (111,498,862) (113,774,349)
2,774,743,878 2,831,371,304 2,889,154,391 2,948,116,726 3,008,282,373
NET INCOME 7,929,933,673 8,091,769,055 8,256,907,199 8,425,415,509 8,597,362,764
OTHER COMPREHENSIVE INCOME (LOSS)
Other comprehensive income to be reclassified to p/l in subsequent - - - - -
periods:
Cumulative translation adjustments of foreign subsidiaries, joint venture 291,034,694 296,974,177 303,034,875 309,219,260 315,529,857
and associates
Comprehensive gain (loss) on derivative liability (Note 18) 72,350,000 73,826,531 75,333,195 76,870,607 78,439,395
Unrealized loss on available-for-sale financial assets- net (Note 10)
- - - - -
NET INCREASE IN CASH AND CASH EQUIVALENTS (2,290,942,068) 3,889,800,000 5,234,062,000 4,376,569,000 2,208,693,000
EFFECT OF ECHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 5,538,267 (10,713,000) 1,724,000 (2,441,000) (30,252,000)
CAS AND CASH EQUIVALENTS AT BEGINNING OF YEAR 9,903,877,068 7,618,473,000 11,497,560,000 16,733,346,000 21,107,474,000
CASH AND CASH EQUIVALENTS AT THE END OF YEAR (Note 6) ₱ 7,618,473,267 ₱ 11,497,560,000 ₱ 16,733,346,000 ₱ 21,107,474,000 ₱ 23,285,915,000
Horizontal
Analysis ->
PROPOSED GOALS BASIS
1 Decrease current liabilities by 10% each year although the Liquidity of J
2 Decrease non-current liabilties by 10% each yaer
3 Increase Net sales by 7% in 2019, 8% in 2020, 9% in 2021, 10% in 2022 and 11% in 2023 JFC had already a high ma
4 Decrease General Administrative Expenses by 2% each year
5 Decrease Cost of sales by 2% every year the historical results show
6
BASIS
although the Liquidity of JFC is more than enough to pay their short-term obligations
JFC had already a high maintaining gross profit rate which we believe to be a good indicator so we would just want to improve it's net sal
the historical results shows increasing ratios so we would like to decrease them by 2% each year because
just want to improve it's net sales since we foresee major growth especially since they've acquired other businesses.
2014 2015 2016 2017 2018
PROFITABILITY RATIOS
Return on Sales 64% 5% 6% 5% 5%
Gross Profit rate 26% 34% 42% 50% 57%
ROI
ROE
LIQUIDITY RATIOS
Current ratio 126% 129% 127% 139% 125%
Quick ratio 95% 95% 103% 102% 113%
SOLVENCY RATIOS
Debt to Asset ratio 48% 51% 53% 52573% 56%
Shareholder's Equity to 52% 49% 47% 47427% 44%
Total Asset ratio
Debt to Equity 93% 104% 112% 111% 128%