MANILA BULLETIN PUBLISHING CORPORATION STATEMENT OF FINANCIAL POSITION DECEMBER 31, 2017 (With comparative figures as at December 31, 2016) (in Philippine Peso) Notes ASSETS Current cash 4 P 56,785,770 P 84,372,530 Trade and other receivables 5 1,728,436,001 ——_2,020,442,832 Inveatories 6 1,336,004,881 1, 386,850,836 Other current assets 1 104,107,805 51,923,009 3)225,334,457___3,543,589,207 Non-current Property, plant and equipment 84 2,544,036,832 —_2,566,830,240 Investment property 9 94,808,970 94,808,970 Deferred tax asset - net 2 67,058,725 56,278,665 Prepaid benefit obligation 2 19,570,240 23,007,783 Good! 10 5,000,000 5,000,000 Other non-current assets i 186,713,690 164,501,438 2,917,188,957__5,010,497,096 P 6,142,523,414 __ 6,554,016,303 LIABILITIES AND EQUITY LIABILITIES Current Trade ard other payables 12 P 4,161,102,218 —P 1,631,214,819, Trust receipts payable 3 82,813,354 121,499,611 Short-term loans payable 8.14 335,000,000 432,000,000 Income tax payable 2,635,615 1,998,057 7581,551,188 2, 166,712,487 Noncurrent Long-term joan payable 14 1,000,000,000 860,000,000 equity Share waotal 1s 3,475,463,722 — 3,475,463,722 Retained earnings 15 192,894,782 143,027,875 Accumulated remeasurement losses on retirement benefit plan (91,038,301) (74,839,804) Treasury shares (16,347,977) (16,347,972) ~3,560,972,226 _5)527,203,516 P6,142,523,414__P 6,554.01MANILA BULLETIN PUBLISHING CORPORATION STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED DECEMBER 31, 2017 (With comparative figures for 2016 and 2018) ‘Gn Philippine Peso) Tetos 2017 2016 205 REVENUES 16 2162,006441 7:548,509,152 P 2,005,961,573 ‘COST OF SALES AND SERVICES 17 4374,350,105 1734.997,325 __1,833,969,063 GROSS PROFIT 767,686,336 813,611,817 971972510 OTHER OPERATING INCOME 8 96,685,709 106,476,514 340,801,162 OPERATING EXPENSES 9 773,669,558 ___ 831,508,409 597.562.1785 ‘OPERATING INCOME 90,642,487 83s72,912 1u5,201497 OTHER INCOME x0 22,159,783 9,336,463 9,615,920 INCOME BEFORE INTEREST EXPENSE 112,802,270 97916,405 128,827,812 INTEREST EXPENSE is 43,730,443, 42373798 43,196,382 INCOME BEFORE INCOME TAX 64,071,827 55,542,607 3,631,030 PROVISION FOR INCOME TAX a 14,204,920 13,013,496 21,500,536 NETINCOME 49,866,907 42,529,109 60,110,294, ‘OTHER COMPREHENSIVE INCOME (LOSS) hems that will not be reclassified inmo profit or loss: Remeasurerent (losses) geht on retirement beneft plan 2 (23,840,710) (3,580,998) 2,744,191 Ircome tax effect 2 6.942.213 3,074,148 (823,259) (36,198,497) 2506, 346) 1,920,393 ‘TOTAL COMPREHENSIVE INCOME FOR THE YEAR P 33,658,410 P—0,022.753_P__62,051,377 EARNINGS PER SHARE ged noe oor oop. 0.02 ‘Sew arora Hotes to morc senorMANILA BULLETIN PUBLISHING CORPORATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2017 (With comparative figures for 2016 and 2015) (in Philippine Peso) Nate 27 Oe POS ‘CASH FLOWS FROM OPERATING ACTIVITIES Income bere incore tax P 64,071,827 P 55,542,607 P 81,631,030 Adjustments fo Depreciation and amortizaton 819 70,170,137 76,744,652 7,887,842 Provision for palmer tosses S19 13,064,968 18,269,320 77,002,757 Goin on disposal of property, pant and equipment 20 (22,700,000) (111,999) : Interes Income 420 (86074) (70,328) (45,291) Interest expanse 14 48,730483 92,973,758 43,190,082 Rotrement expense 2 7,618,472 9,995,527 ___ 10,472,808 “Gperating Income before changes Ih operating assets and ladies 190,869,773 201,744,618 290,105,618 ‘Changes in operating assets and labites (crease) decrease fn: ‘Trade and other recenvabies 5 278,981,963 61,978,713 (97528522) Tventories & $0,845,955 (38,281,082) (108,387,582) Other current assets 7 (52,184,796) (17,653,426) 63,100,007 (Other non-current assets 11 (@2,232252) 2158.49 (457,803) Tncrease (decrease) in ‘Trade and other payables 12 (@70,112601) (401,751,829) (334,813,788) Trust receipts payable 13__(98,686257) __(66.244,861) _ (8,798,482) Tash used in operations {62.538,315) (258,048,938) (180,350,552) Corer pose 2 (@7822a39)—_(19673,607) (17,142.69) Income tax paid (37,405,208) __(22.960,916) (29,269,140) ‘Net cash used in operating activities (207,179,588) (300633,212) (226,736,032) ‘CASH FLOWS FROM INVESTING ACTIVITIES. ‘Acquisttons of property, plant and equioment, 81s (24757487) 9814.01) (53.704.448) Proceeds from disposal of property, plant and equipment 3 99,080,718 111,990 8,000,000 ‘Net ash provided by (used in investing actnties (65,323,271 (09 702,061) (45,704,444) CASH FLOWS FROM FINANCING ACTIVITIES Payments of: Loos 8.14 (455,000,000) (186.500,000) (599,500,000) terest 14 (48,730483)—(42373.798) (43,196,382) Proceeds from avaliments of fon 14 519,000,000 __593390,000__¢3,000,000 ‘Net each provided by fancing activities 14,269,557 364,626,202 222,503,618 INCREASE (DECREASE) IN CASH (27,586,760) 24,290,928 (50,136,858) ASH, AT BEGINNING OF YEAR 84,372,530 69,081,602 110,216,460 (CASH, AT END OF YEAR 56,785,770 1.602 ‘Sic accompanrig notes financial wavesarate a = * Gs0's10'88 350°S10'86 y aers'ze exp ore'r #6606109 - ESOT? 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