ABS-CBN Corporation

Statement of Financial Position

2022 2021 2020

ASSETS
Current Assets
Cash and Cash Equivalents ₱1,936,852 ₱2,539,978
Short-term investments 11,055 10,818
Trade and other receivabl 4,684,574 5,151,725
Inventories 263,876 385,955
Program rights and other i 582,537 701,796
Other current assets 4,433,886 4,976,450
11,912,780 13,766,722
Non-current assets held-fo 409,442 173,490
Total Current Assets ₱12,322,222 ₱13,940,212
Noncurrent Assets
Property and equipment 24,461,485 26,285,854
Goodwill, program rights a 8,928,015 9,482,557
Financial assets at FVOCI 44,357 41,658
Investment properties 1,266 1,294
Investments in associates 116,477 121,775
Deferred tax assets 1,530,464 1,097,950
Other noncurrent assets 2,549,271 2,429,603
Total Noncurrent Assets 37,631,335 39,460,691
TOTAL ASSETS ₱49,953,557 ₱53,400,903

LIABILITIES AND EQUITY

Current Liabilities
Trade and other payables ₱10,972,959 ₱10,044,129
Contract liabilities 1,755,011 2,166,105
Income tax payable 215,166 334,018
Obligations for program ri 119,168 124,767
Current lease liabilities 213,864 172,727
Interest-bearing loans an 1,711,132 2,004,882

Total Current Liabilities ₱14,987,300 ₱14,846,628

Noncurrent Liabilities
Interest-bearing loans an 16,017,185 18,250,975
Obligations for program ri 45,053 159,084
Accrued pension obligatio 6,082,299 6,850,961
Deferred tax liabilities 481,758 249,762
Noncurrent lease liabilitie 450,809 460,672
Convertible notes 188,019 172,693
Other noncurrent liabilitie 278,730 316,061
Total Noncurrent Liabilitie ₱23,543,853 ₱26,460,208
Total Liabilities ₱38,531,153 ₱41,306,836
Equity
Capital Stock
Common 899,807 872,124
Preferred 200,000 200,000
Additional paid in capital 4,428,800 4,745,399
Treasure shares and Philip -544,168 -1,638,719
Exchange differences on tr 854,231 207,219
Fair value reserves on fina 75,368 77,869
Share-based payment pla -264
Retained earnings 6,855,255 8,691,759
Equity attributable to equ 12,769,029 12,155,651
Noncontrolling Interests -1,346,625 -1,061,584
Total Equity ₱11,422,404 ₱12,094,067
TOTAL LIABILITIES AND E ₱49,953,557 ₱53,400,903

STATEMENT OF TOTAL COMPREHENSIVE INCOME

REVENUES ₱19,196,916 ₱17,285,204 ₱21,419,757
PRODUCTION COSTS -7,340,082 -7,152,642 -10,310,826
COST OF SERVICES -8,165,429 -7,890,298 -9,136,575
COST OF SALES -114,423 -40,546 -284,707
GROSS PROFIT ₱3,576,982 ₱2,741,718 ₱1,687,649
GENERAL AND ADMINISTR -7,831,131 -7,450,527 -13,815,768
FINANCE COSTS -1,131,776 -1,178,095 -1,213,934
INTEREST INCOME 12,740 8,515 201,101
FOREIGN EXCHANGE GAINS -179,692 81,545 -382,796
EQUITY IN NET INCOME (L 286 -9,607 -47,634
OTHER INCOME 3,255,565 572,290 92,837

LOSS BEFORE INCOME TA -2,297,026 -5,234,161 -12,478,545

PROVISION FOR INCOME TAX
Current 236,553 287,710 538,985
Deferred 102,369 148,512 -486,714
338,922 436,222 52,271
NET LOSS -₱2,635,948 -₱5,670,383 -₱13,530,816

STATEMENT OF CASH FLOWS

CASH FLOW FROM OPERATING ACTIVITIES
Loss before income tax -₱2,297,026 -₱5,234,161 -₱13,478,545
Net cash generated from 2,158,439 1,639,904 -3,078,238
Income taxes paid -355,405 -172,213 -623,113
Net cash provided by opera 1,803,034 1,467,691 -3,701,351

CASH FLOWS FROM INVESTING ACTIVITIES

Net cash flows provided by 513,995 -2,765,612 4,708,482

CASH FLOWS FROM FINANCING ACTIVITIES

Net cash used in financing -2,936,878 -2,587,382 -6,716,283

NET DECREASE IN CASH -603,126 -3,889,748,162 -5,740,191

CASH AND CASH EQUIVAL 2,539,978 6,429,726 12,166,917
CASH AND CASH EQUIVALE ₱1,936,852 ₱2,539,978 ₱6,429,726
Current Ratio
0.82 0.94 This ratio indicates that there are cash problems in ABS-CBN Corpor

Cash Ratio
0.13 0.17 This ratio indicates that the Corp. is insufficient to pay for short-term

Quick Ratio
0.44 0.52 This ratio indicates that the company may have difficulty meeting it

2022
APTO Credit Purchases (Total Expenses) (15,619,934) - 1.49
Average (A/P) 10,508,544

Number days to pay 365 365

Average A/P Outstanding APTO - 1.49 - 246

ARTO Credit Sales (Total Revenue) 19,196,916 3.90

Average (A/R) 4,918,150

Number days to collect 365 365

Average Days Outstanding ARTO 3.90 94

ITO Cost sales (8,279,852)

Average Inventory 324,916 - 25.5

Number days to inventory outs 365 365

ITO - 25.48 - 14

Total Asset Turnover (TATO) Revenue 19,196,916

0.37
 Average Total Asset 51,677,230 0.37

Fixed Asset Turnover (FATO) Revenue 19,196,916

Average Total Fixed 25,373,670 0.76

APTO Interpretation: The result suggests that it takes approximately 246 days to pay its accounts payable to suppliers
which is a very long payment period, indicating that the company tends to delay payments to its suppliers for an extended pe
ARTO Interpretation: A result of 94 suggests slower payment collection, potentially reflecting inefficient practices.
It can strain cash flow, indicate lenient credit policies, and raise the risk of bad debts.
ITO Interpretation: The results suggests an efficient inventory management.
TATO Interpretation: This ratio indicates that the company generates P0.37 in revenue for every P1 of total assets. A low TAT
using its total assets to generate sales, potentially due to underutilized assets or challenges in converting assets into revenue
FATO Interpretation: This ratio indicates that the company generates P0.76 in revenue for every P1 of fixed assets, indicating
use of these assets compared to total assets. This suggests effective management of property, plants, and equipment to gen

Debt to Equity Total Liabilities 3.37

Total Equity

Debt to Asset (Debt Ratio) Total Liaibilities 77%

Total Assets

Gross Profit Ratio Gross Profit 3,576,982

Revenue 19,196,916 19%

Net Profit Ratio Net Profit/Loss (2,635,948)

Revenue 19,196,916 -14%

Return on Asset Net Profit/Loss (2,635,948)

Average Total Asset 51,677,230 -5%

Return on Equity Net Profit/Loss (2,635,948)

Average Total Equity 11,758,236 -22%

Debt to Equity Interpretation:

The result implies that the company is more heavily leveraged and relies significantly on debt financing to fund its operations
High debt levels can be a sign of financial risk because the company has a substantial debt burden to service, including intere

Debt to Asset Ratio Interpretation:

A D/A ratio of 77% means that 77% of the company's assets are financed by debt, and the remaining 23% are financed by equity.
This shows that the company relies heavily on debt to fund its assets. A high D/A ratio indicates that a significant portion of th

Gross Profit Ratio Interpretation:

The Gross Profit Ratio indicates that the company retains 19% of its revenue after accounting for the cost of goods sold (COGS).
A higher Gross Profit Ratio is generally favorable, indicating that the company has a good margin on its products or services b

Net Profit Ratio Interpretation:

The negative Net Profit Ratio indicates that the company is incurring a net loss equivalent to 14% of its revenue.
A negative Net Profit Ratio means the company's expenses, including operating costs, interest, and taxes, exceed its revenue,

Return on Asset Interpretation:

A negative ROA of -5% signifies that the company is generating a negative return on its total assets.
This suggests that the company's assets are not being efficiently utilized to generate profits and may be incurring losses.

Return on Equity Interpretation:

A negative ROE of -22% indicates that the company is experiencing a negative return on its shareholders' equity.
This suggests that the company is not providing a positive return to its equity investors and is likely incurring losses that are im
 VERTICAL ANALYSIS
2022 2021

3.88% 4.76%
0.02% 0.02%
9.38% 9.65%
0.53% 0.72%
1.17% 1.31%
8.88% 9.32%
23.85% 25.78%
ere are cash problems in ABS-CBN Corporation. 0.82% 0.32%
24.67% 26.10%

e Corp. is insufficient to pay for short-term liabilities. 48.97% 49.22%

17.87% 17.76%
0.09% 0.08%
e company may have difficulty meeting its short-term financial obliga 0.00% 0.00%
0.23% 0.23%
3.06% 2.06%
5.10% 4.55%
75.33% 73.90%
100.00% 100.00%

- 8

21.97% 18.81%
3.51% 4.06%
0.43% 0.63%
0.24% 0.23%
0.43% 0.32%
3.43% 3.75%
0.00% 0.00%
30.00% 27.80%

32.06% 34.18%
0.09% 0.30%
12.18% 12.83%
0.47%
 0.90% 0.86%
0.38% 0.32%
0.56% 0.59%
47.13% 49.55%
77.13% 77.35%

s payable to suppliers 0.00% 0.00%

ents to its suppliers for an extended period. 1.80% 1.63%
ecting inefficient practices. 0.40% 0.37%
8.87% 8.89%
-1.09% -3.07%
for every P1 of total assets. A low TATO suggests that the company may not be efficiently0.39%
1.71%
nges in converting assets into revenue. 0.15% 0.15%
for every P1 of fixed assets, indicating a moderately more efficient 0.00% 0.00%
operty, plants, and equipment to generate sales. 13.72% 16.28%

22.87% 22.65%
100.00% 100.00%

100.00% 100.00%
-38.24% -41.38%
-42.54% -45.65%
-0.60% -0.23%
18.63% 15.86%
-40.79% -43.10%
-5.90% -6.82%
0.07% 0.05%
-0.94% 0.47%
0.00% -0.06%
16.96% 3.31%

-11.97% -30.28%

1.23% 1.66%
n debt financing to fund its operations and investments. 0.53% 0.86%
ebt burden to service, including interest payments. 1.77% 2.52%
-13.73% -32.80%

ning 23% are financed by equity.

ndicates that a significant portion of the company's assets is subject to the claims of creditors.

r the cost of goods sold (COGS).

d margin on its products or services before considering operating expenses.

% of its revenue.
nterest, and taxes, exceed its revenue, leading to a loss.

ofits and may be incurring losses.

eholders' equity.
and is likely incurring losses that are impacting shareholders' equity.

VERTICAL ANALYSIS INTERPRETATION (Statement of Financial Position)

Total Assets have generally decreased from 2021 to 2022. This might indicate a sh
Total Liabilities have shown a slight decrease, moving from 77.35% in 2021
Total Equity has increased slightly, moving from 22.65% in 2021 to 22.87%

VERTICAL ANALYSIS INTERPRETATION (Statement of Total Comprehensiv

The Operating Profit Margin (as a percentage of total revenue) appears to have in
The Loss Before Interest and Taxes (EBIT) Margin has went down, moving f
A net loss of -13.73% for 2022 and -32.80% for 2021 suggests that the com

HORIZONTAL ANALYSIS (Statement of Financial Position)

Total Assets have decreased by ₱3,447,346 from 2021 to 2022, representin
Current Assets have decreased by ₱1,617,990, or 12%. The reduction in cu
Total Liabilities have decreased by ₱2,775,683, or 7%, indicating higher deb

HORIZONTAL ANALYSIS (Statement of Total Comprehensive Income)

Revenues has improved from a loss of ₱4,134,553 in 2021 to a loss of ₱3,3
Some individual income and expense categories have shown varying degre
The Loss Before Income Tax has deteriorate, showing a 2% decrease. This s

HORIZONTAL ANALYSIS INTERPRETATION (Statement of Cash Flows)

Net Cash provided by operating activities has decreased by 56% from ₱2,937,135
This may indicate a reduced ability to generate cash from core operations.
This suggests a reduction in capital expenditures or investments. Financing
HORIZONTAL ANALYSIS
2022 2021 2022 2021

-₱603,126 - -24%
237 - 2%
-467,151 - -9%
-122,079 - -32%
-119,259 - -17%
-542,564 - -11%
-1,853,942 - -13%
235,952 - 136%
-₱1,617,990 - -12%

-1,824,369 - -7%
-554,542 - -6%
2,699 - 6%
-28 - -2%
-5,298 - -4%
432,514 - 39%
119,668 - 5%
-1,829,356 - -5%
-₱3,447,346 - -6%

₱928,830 - 9%
-411,094 - -19%
-118,852 - -36%
-5,599 - -4%
41,137 - 24%
-293,750 - -15%

₱140,672 - 1%

-2,233,790 - -12%
-114,031 - -72%
-768,662 - -11%
231,996 - 93%
 -9,863 - -2%
15,326 - 9%
-37,331 - -12%
-₱2,916,355 - -11%
-₱2,775,683 - -7%

27,683 - 3%
0- 0%
-316,599 - -7%
1,094,551 - -67%
647,012 - 312%
-2,501 - -3%
-264 - -%
-1,836,504 - -21%
613,378 - 5%
-285,041 - 27%
-₱671,663 - -6%
-₱3,447,346 - -6%

₱1,911,712 -₱4,134,553 11% -19%

-187,440 3,158,184 3% -31%
-275,131 1,246,277 3% -14%
-73,877 244,161 182% -86%
₱835,264 ₱1,054,069 30% 62%
-380,604 6,365,241 5% -46%
46,319 35,839 -4% -3%
4,225 -192,586 50% -96%
-261,237 464,341 -320% -121%
9,893 38,027 -103% -80%
2,683,275 479,453 469% 516%

2,937,135 7,244,384 -56% -58%

-51,157 -251,275 -18% -47%

-46,143 635,226 -31% -131%
-97,300 383,951 -22% 735%
₱3,034,435 ₱7,860,433 -54% -58%
 ₱2,937,135 ₱8,244,384 -56% -61%
518,535 4,718,142 32% -153%
-183,192 450,900 106% -72%

3,279,607 -7,474,094 -119% -159%

-349,496 4,128,901 14% -61%

3,889,145,036 -3,884,007,971 -100% 67663%

-3,889,748 -5,737,191 -60% -47%
-₱603,126 -₱3,889,748 -24% -60%

ION (Statement of Financial Position)

from 2021 to 2022. This might indicate a shift in asset composition or a reduction in the company's liquidity.
t decrease, moving from 77.35% in 2021 to 77.13% in 2022. This suggests that the company might be reducing its leverage, which could be
moving from 22.65% in 2021 to 22.87% in 2022. This indicates that the company's equity base has grown compared to its total assets, po

ION (Statement of Total Comprehensive Income)

centage of total revenue) appears to have increased from 15.86% in 2021 to 18.63% in 2022. This suggests improved profitability in the core operations
(EBIT) Margin has went down, moving from -30.38% in 2021 to -11.97% in 2022. This suggests that the company's operating performance
d -32.80% for 2021 suggests that the company experienced losses in those years. The negative percentages indicate that the company's expe

f Financial Position)
,447,346 from 2021 to 2022, representing a 6% reduction. This indicates a significant decline in the company's asset base during this perio
₱1,617,990, or 12%. The reduction in current assets may impact the company's liquidity and ability to meet short-term obligations.
₱2,775,683, or 7%, indicating higher debt or other obligations. Total Equity has decreased by ₱671,663, representing a 6% reduction. This

nt of Total Comprehensive Income)

s of ₱4,134,553 in 2021 to a loss of ₱3,347,346 in 2022, representing an 11% reduction in losses. This indicates a reduction in net losses.
nse categories have shown varying degrees of improvement or deterioration. Such as, "Other Income" has increased by 30%, while "Other
eteriorate, showing a 2% decrease. This suggests worse operating performance before considering interest and taxes.

TION (Statement of Cash Flows)

ties has decreased by 56% from ₱2,937,135 in 2021 to ₱1,288,249 in 2022.
to generate cash from core operations. Investing activities have shown a significant reduction in cash outflows, down by 119% from ₱3,27
expenditures or investments. Financing activities indicate a 14% increase in cash inflows, potentially reflecting increased financing or cap
g its leverage, which could be a positive sign.
mpared to its total assets, potentially improving its financial health.

fitability in the core operations of the company.

any's operating performance has become worse.
cate that the company's expenses and losses exceeded its revenues and profits for those respective years.

asset base during this period.

ort-term obligations.
senting a 6% reduction. This suggests a decrease in the company's net worth.

s a reduction in net losses.

eased by 30%, while "Other Expenses" have decreased by 60%.
s, down by 119% from ₱3,279,607 to ₱1,393,589.
g increased financing or capital raised.