waion wr 28, Notes 2017, 2016 a ASSETS ° Current assets a Cash and cash equivalents 2 479,135,045 359,643,061 * Trade and other receivables, net 3 614,980,628 709,836,837 Inventories: 4 37,843,917 40,638,069 on Other current assets 5 153,980,865. 144,610,476 ui Tolal current assets 7185,940,455 1.254,728,.443 uw Non-current assets: Property and equipment, net 6 72,009,717 87,319,401 investment in associates, al cost 7 16;849:799 (16,849,709 Deferred tax assets, net 18 90,403,655 96,387,440 Other non-current assets 865,905,765 46,903,842 ‘Total non-current assets. 245,168,936 216,460,482 Total assets. 474,188,925 LIABILITIES AND EQUITY Current liabilities Trade and other payables, 8 181,423,193 221,581,651 Income tax payable 9,105,914 28,674,674 Due to related parties 743,321,861 3,119,544 “Total current iabilties 788,850,968 253,375,866, Non-current liability i Retirement benefit obligation 14 17,890,115 ___37,181,937 Total abilities 217,741,083 280,557,803 Equity ‘Share capital 19 370,000,000 370,000,000 Foir value reserve on available-for-sale assets 8 (2:310,000) (2,310,000) Reserve for remeasurement of retirement benefits 14 (191258,202) (33,881,330) Retained earnings 10 ‘Appropriated 550,000,000 $50,000,000 Unappropriated 314,936,510 206,822,452 _ Total eaul 7(213,368,308 1, 180,631,122 Total liabilities and equity 7.431,109,391 _1,474,188,925 (The notes on pages 1 to 40 are integral part of these financial statements.) [BUREAU OF INTERNAL REVENUI LARGE TAXPAYERS SERVICE LARGE TAXPAYERS ASSISTANCE DIVISION | ete [ APR 19a | TSIS| 29 BRC ELV ED ooh MELINA PRISCA S. RAN Date: 2020-11-10 Time: 08Statement Securities ana Exchange ne. ae Commission siveJncomeP P| NES For the years: 31, 2017 and 2016 (All amon ippine Peso) 7 Notes 2017 2016 vi Revenues wa Advertsing 1,130,438,3131,521,712,868 = Circulation 573,482,142 $48,889,017, & 7,712,918.455 2,066,601, 885 e Revenue deductions 11 (196,344,626) (240,814,617; a Net revenues 7,516,573,829 1,827,787, 268 a Cost of sales and services 42 (1,077,902,176) _(1,290,673,258) Gross profit 438,671,653 637,114,010 Operating expenses 13 (342,841,034) (988,417,811) ther income, net 18 14,568,963 13,141,431 Profit before income tax 710,390,582 161.837,630 Income tax expense 18___ (29,755,524) (44,696,526) Profit for the year 80/844,058 117,149,104 Other comprehensive income (loss) item that wil not be reclassified to profit or loss Remeasurements of retirement benefits, net of tax 14 14,623,128 (11,900,011) Total comprehensive income for the year 96,267,166 105,247,093, (Che notes on pages 1 to 40 are integral part ofthese financial statements.) "AU OF INTERNAL REVENUE _ LARGE TAXPAYERS SERVICE | |UARGE TAXPAYERS ASSISTANCE UNION | bate [ APR 19 2018 [pss pate: 2020-11-10 Time: 08:49:50RAB C i x VURPEDane MELINA PRISCAS ciigganne Mendoze- Noy, 3.2 2020Securities ana Exchange c, ea Commission Equity) iP PINES flippine Peso) Fai valoe ; reseron Reserve for a Seaishe rameserement forsale on retirement ; Retained earnings (Note 10 ° ‘Share capital assets benefits, tained earings {Na o (Note 0)__(Notes)___ Nate 4)_Appropiated Unagproprated Total equity os “Eainees aaa 7 206 37, a0 Go 2.510.000) I. S61 379) 5,000,000. 292561 348. 1e8 200 029 Comprehensive incone v= Protortne year . . - = rinaitot 117 t4140¢ Ch biker comarchensive ass 2 arg000r%, z = _(vrgo0.or8 feta omprehensive nara ora year zl —titso0 aT Hs 2 8 “Transaction with owners N Dividends declared a = = = (112,900,000) _ (112,900,000) Balances as a! DecombsP 51 PONG 370 000000 — ESTO ODL CBT ISU DOU OOG— 796.002457 7 18068. 172 ‘Comprehensive income Prot fre yest : : 2 = eneutose —neaose ‘ina eomorhensive income 5 2 sasos.s08 : s_ 14628128 ‘otal comprehensive come Tort year 5 “ene aaa 95287 06 “ansecton wi owners Onends delres : E : = (6230000) _(62890,000; Balances asa becombarS1 HAY ——S7O000506 —@_SO,000] — PSU 70a] ea MNOHOT— Bra 96.510 1.713308 508 (Che notes on pages 1 to 40 are integral part of these financial statements.) ‘BUREAU OF inferival REVENUE j LARGE TAXPAYERS SERVICE LARGE TAXPAYERS ASSISTANCE DIVISION Date [ APR 19 2018 | sis T oPY [ Date: 2020-11-10 Time: 08: Bpge Mendoza | ‘HOV 1.4 2020, DatoSecurities ana Exchange “Commission HILIPPINES 3, 2017 and 2016 nilippine Peso) Notes oF 2016 wi Cash flows from operating activities wi Profit before income tax 110,988,582 161,837,630 ° ‘Adjustments for e Depreciation and amortization 6 10,995,698 17,982,381 o Provision for impairment of trade receivables 33 9,000,000 15,000,000 Unrealized foreign exchange gain 19 (3,596,288) (1,732,308) B (Reversal) provision for impairment of ex-deais 543, (3,426,628) 12,930,628 wa Provision for impairment of investment property 813 - 5,449,192 - Interest income 15 (5,689,501) (10,169,208) oe Dividend ineome 15 (5,525,000) __ (2,680,000 ‘Operating income before working capital changes 719,557,661 198,598,316 Decrease (increase) in: Trade and other receivables 185,856,209 87,194,584 Inventories 2,794,152 (28,858,046) Other current assets (22,252,121) (50,807,830) Other non-current assets (20,001,823) (38.347.316) (Decrease) increase in Trade and other payables (70,158,458) 41,072,358 Ove to related parties 40,202,320 (43,866,400) Retirement benefit obligation 14 4,698,361__(141,887,381) Cash fow from operating activities 237,596,401 22,238,278 Income tax paid (7,299,194) (45,690,307) Interest received from deposits and short-term placements 2 4,943,556. 3,314,428 ‘Net cash flow from (used in) operating acivties 2 202,240,763 (20,137,604) Cash flows from investing activities, Additions to property and equipment 6 (89,086,012) (24,128,754) Dividends received 5,525,000 3,680,000 Interest received from short-term investments ene 5 3,745,945 __6,854,780 Net cash flow used in investing activites (23,815,067) (13,590,974) ‘Cash fiow from financing activity Dividends paid 10 462,530,000) _ (112,900,000) Net increase (decrease) in cash 115,805,698 (146,628,578) Gash balance at beginning of year 359,643,061 504,539,331 Erfect of exchange rate changes on cash and cash equivalents 3,596,288 1,732,308 Cash at end of year #734 358,843,064 (The notes on pages 1 to 40 are integral part of these financial statements.) BUREAU OF iwTeRNAL REVENUE LARGE TAXPAYERS SERVICE {LARGE TAXPAYERS ASSISTANCE DIVISION * Date | APR 19 2018 | TsIs| RECKHiaV é 56 vila PRISCA. m7 | i” | i Date: 2020-11-10 Time: 08 cia Anne Mendoza