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PUREGOLD PRICE CLUB INC AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF INCOME

Year Ended D
In PHP
NET SALES
COST OF SALES
GROSS PROFIT
OTHER OPERATING INCOME
OPERATING EXPENSES
INCOME FROM OPERATIONS
OTHER INCOME (EXPENSES)
Interest expense
Interest Income
Others-net
INCOME BEFORE INCOME TAX
INCOME TAX EXPENSE
Current
Deferred
NET INCOME

2012
57,466,507,410
48,227,697,388
9,238,810,022
1,667,029,827
7,060,116,430
3,845,723,419

SALES % CHANGE
100.00%
47.40%
83.92%
44.16%
16.08%
66.92%
2.90%
58.48%
12.29%
61.53%
6.69%
73.55%

(74,044,583)
88,964,732
10,919,403
3,871,562,971

-0.13%
0.15%
0.02%
6.74%

13.87%
253.83%
-61.99%
75.60%

1,292,735,908
(138,711,634)
1,154,024,274
2,717,538,697

2.25%
-0.24%
2.01%
4.73%

80.91%
152.88%
74.93%
75.89%

EARNINGS PER SHARE


Basic and Diluted earnings per share
1.11
* This does not include information for Subsidiaries acquired in May 2012

Year Ended D
In Millions PHP
NET SALES
COST OF SALES
GROSS PROFIT
OTHER OPERATING INCOME
OPERATING EXPENSES
INCOME FROM OPERATIONS
OTHER INCOME (EXPENSES)
Interest expense
Interest Income
Others-net
INCOME BEFORE INCOME TAX
INCOME TAX EXPENSE
Current
Deferred

2012
57,467
48,228
9,239
1,667
7,060
3,846

SALES % CHANGE
100.00%
47.40%
83.92%
44.16%
16.08%
66.92%
2.90%
58.48%
12.29%
61.53%
6.69%
73.55%

(74)
89
11
3,872

1,293
(139)
1,154
NET INCOME
2,718
* This does not include information for Subsidiaries acquired

-0.13%
0.15%
0.02%
6.74%

13.87%
253.83%
-61.99%
75.60%

2.25%
80.91%
-0.24%
152.88%
2.01%
74.93%
4.73%
75.89%
in May 2012

1,000,000.00

Year Ended December 31


2011*
SALES % CHANGE
38,987,883,405 100.00%
33.94%
33,453,130,008
85.80%
30.79%
5,534,753,397 14.20%
56.75%
1,051,883,532
2.70%
34.74%
4,370,772,221
11.21%
31.40%
2,215,864,708
5.68%
124.88%

2010*
29,108,004,456
25,577,007,998
3,530,996,458
780,668,193
3,326,329,654
985,334,997

SALES % CHANGE
100.00%
20.72%
87.87%
16.83%
12.13%
59.10%
2.68%
-0.59%
11.43%
30.62%
3.39%
115.05%

(65,028,007)
25,143,153
28,727,693
2,204,707,547

-0.17%
0.06%
0.07%
5.65%

-70.48%
1076.96%
-218.44%
196.75%

(220,264,174)
2,136,283
(24,255,922)
742,951,184

-0.76%
0.01%
-0.08%
2.55%

-24.10%
100.00%
16.02%
293.31%

714,565,502
(54,852,762)
659,712,740
1,544,994,807

1.83%
-0.14%
1.69%
3.96%

148.31%
-0.61%
183.65%
202.72%

287,772,592
(55,190,037)
232,582,555
510,368,629

0.99%
-0.19%
0.80%
1.75%

212.98%
60.09%
304.68%
288.33%

0.97

0.40

Year Ended December 31


2011*
SALES % CHANGE
38,988 100.00%
33.94%
33,453
85.80%
30.79%
5,535 14.20%
56.75%
1,052
2.70%
34.74%
4,371
11.21%
31.40%
2,216
5.68%
124.88%

2010*
29,108
25,577
3,531
781
3,326
985

SALES % CHANGE
100.00%
20.72%
87.87%
16.83%
12.13%
59.10%
2.68%
-0.59%
11.43%
30.62%
3.39%
115.05%

(65)
25
29
2,205

-0.17%
0.06%
0.07%
5.65%

-70.48%
1076.96%
-218.44%
196.75%

(220)
2
(24)
743

-0.76%
0.01%
-0.08%
2.55%

-24.10%
100.00%
16.02%
293.31%

715
(55)
660
1,545

1.83%
-0.14%
1.69%
3.96%

148.31%
-0.61%
183.65%
202.72%

288
(55)
233
510

0.99%
-0.19%
0.80%
1.75%

212.98%
60.09%
304.68%
288.33%

2009*
24,112,391,358
21,893,011,892
2,219,379,466
785,285,921
2,546,479,692
458,185,695

PERCENT
100.00%
90.80%
9.20%
3.26%
10.56%
1.90%

(290,193,291)
(20,906,114)
188,898,518

-1.20%
0.00%
-0.09%
0.78%

91,946,742
(34,474,157)
57,472,585
131,425,933

0.38%
-0.14%
0.24%
0.55%

0.11

2009*
24,112
21,893
2,219
785
2,546
458

PERCENT
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%

(290)
(21)
189

0.00%
0.00%
0.00%
0.00%

92
(34)
57
131

0.00%
0.00%
0.00%
0.00%

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES


CONSOLIDATED STATEMENT OF FINANCIAL POSITION

In PHP

2012

ASSETS
CURRENT ASSETS
Cash and cash equivalent
Investments in Trading Securities
Receivables-net
Merchandise Inventory- at cost
Due from related parties
Prepaid expenses and other current assets

TOTAL CURRENT ASSETS


NON CURRENT ASSETS
Investments
Property and equipment-net
Deferred tax assets-net
Intangibles
Other non current assets

TOTAL NON CURRENT ASSETS


TOTAL ASSETS

In PHP

9,084,325,007
34,946,521
956,866,308
6,611,541,340
7,014,202
688,330,063
17,383,023,441

7,879,160
9,582,936,212
17,432,364,788
1,038,071,790
28,061,251,950
45,444,275,391

2012

LIABILITIES AND EQUITY


CURRENT LIABILITIES
Accounts payable and other accrued liabilities
Loans payable
Income tax payable
Trust receipts payable
Due to related parties
Current maturities of long term debt, net
of debt issue cost
Other current liabilities

TOTAL CURRENT LIABILITIES

9,286,918,686
508,500,000
438,660,875
8,130,029
237,545,408
43,140,099
253,949,662
10,776,844,759

Non current liabilities


Non current accrued rent
Long term debt- net of current maturities
and debt issue costs
Deferred tax liabilities- net

1,120,906,123
4,909,071,263
976,419,442

Retirement benefits liability

TOTAL NON CURRENT LIABILITIES


TOTAL LIABILITIES

In PHP

157,164,520
7,163,561,348
17,940,406,107

2012

EQUITY
Capital stock
Additional paid in capital
Retained Earnings

2,766,406,250
20,830,387,095
3,907,075,939
TOTAL EQUITY
27,503,869,284
TOTAL LIABILITIES AND EQUITY
45,444,275,391
* This does not include information for Subsidiaries acquired in May 2012

FINANCIAL RATIOS (PAST PERFORMANCE)

TOTAL ASSETS

19.99%
0.08%
2.11%
14.55%
0.02%
1.51%
38.25%

0.02%
21.09%
0.00%
38.36%
2.28%
61.75%
100.00%

% CHANGE

364.63%
45.61%
133.18%
46.18%
100.00%
28.32%
133.36%

December 31
TOTAL ASSETS

2011*

% CHANGE

1,955,167,541
24,000,214
410,357,431
4,522,929,063
536,409,934
7,448,864,183

11.72%
0.14%
2.46%
27.12%
0.00%
3.22%
44.66%

6.38%
0.87%
69.86%
54.14%
0.00%
41.78%
37.54%

0.00%
7,879,160
59.57%
6,005,557,739
-100.00%
220,139,294
153217.32%
11,370,121
-65.23%
2,985,865,794
204.00%
9,230,812,108
172.45% 16,679,676,291

0.05%
36.01%
1.32%
0.07%
17.90%
55.34%
100.00%

100.00%
44.87%
33.19%
100.00%
652.08%
96.07%
64.76%

December 31
TOTAL
LAIBILITIES AND
EQUITY

% CHANGE

TOTAL
LAIBILITIES AND
EQUITY
% CHANGE

2011*

20.44%
1.12%
0.97%
0.02%
0.52%

48.96%
100.00%
135.74%
-61.83%
2582.44%

6,234,585,807
186,076,234
21,299,667
8,855,584

37.38%
0.00%
1.12%
0.13%
0.05%

24.52%
-100.00%
82.10%
-31.14%
100.00%

0.09%
0.56%
23.71%

100.00%
42.74%
62.58%

177,912,643
6,628,729,935

0.00%
1.07%
39.74%

0.00%
-40.02%
-11.96%

2.47%

69.08%

662,950,406

3.97%

30.60%

10.80%
2.15%

100.00%
100.00%

0.00%
0.00%

0.00%
0.00%

0.35%
15.76%
39.48%

105.83%
868.96%
143.49%

76,356,980
739,307,386
7,368,037,321

0.46%
4.43%
44.17%

94.63%
35.20%
-8.77%

December 31
TOTAL
LAIBILITIES AND
EQUITY
6.09%
45.84%
8.60%
60.52%
100.00%

% CHANGE

2011*

38.32%
2,000,000,000
303.00%
5,168,821,728
82.33%
2,142,817,242
195.37%
9,311,638,970
172.45% 16,679,676,291

TOTAL
LAIBILITIES AND
EQUITY
% CHANGE
11.99%
30.99%
12.85%
55.83%
100.00%

37.93%
100.00%
258.44%
354.71%
64.76%

2010*

TOTAL ASSETS

1,837,943,774
23,792,400
241,580,625
2,934,251,679
378,343,613
5,415,912,091

18.15%
0.24%
2.39%
28.98%
0.00%
3.74%
53.50%

4,145,507,632
165,286,533
397,011,879
4,707,806,044
10,123,718,135

0.00%
40.95%
1.63%
0.00%
3.92%
46.50%
100.00%

% CHANGE

61.78%
93.43%
-62.56%
54.09%
-100.00%
77.21%
-45.38%

5,006,982,756
2,092,330,000
102,181,682
30,932,358
-

49.46%
20.67%
1.01%
0.31%
0.00%

296,627,690
7,529,054,486

0.00%
2.93%
74.37%

507,609,692

5.01%

59.63%

0.00%
0.00%

0.00%
0.00%

1,136,100,000
12,300,000
645,300,000
1,904,300,000
6,004,200,000
213,500,000
9,915,700,000

0.00%
91.39%
2,166,000,000
63.33%
101,200,000
0.00%
39.30%
285,000,000
84.46%
2,552,200,000
-18.80% 12,467,900,000

TOTAL
LAIBILITIES AND
EQUITY
% CHANGE

2010*

2009*

32.90%
-65.78%
305.48%
100.00%
-100.00%

2009*

3,767,500,000
6,114,200,000
25,200,000
383,500,000

0.00%
-48.56%
576,600,000
-30.72% 10,867,000,000

318,000,000
-

39,231,522
546,841,214
8,075,895,700

2010*
1,450,000,000
597,822,435
2,047,822,435
10,123,718,135

0.39%
5.40%
79.77%

126.77%
17,300,000
63.09%
335,300,000
-27.91% 11,202,300,000

TOTAL
LAIBILITIES AND
EQUITY
% CHANGE
14.32%
0.00%
5.91%
20.23%
100.00%

2009*

82.14%
796,100,000
0.00%
27.33%
469,500,000
61.81%
1,265,600,000
-18.80% 12,467,900,000

TOTAL ASSETS % CHANGE

9.11%
0.10%
5.18%
15.27%
48.16%
1.71%
79.53%

9.11%
0.10%
5.18%
15.27%
48.16%
1.71%
79.53%

0.00%
17.37%
0.81%
0.00%
2.29%
20.47%
100.00%

0.00%
17.37%
0.81%
0.00%
2.29%
20.47%
100.00%

SALES

% CHANGE

30.22%
49.04%
0.20%
0.00%
3.08%
0.00%
0.00%
4.62%
87.16%

30.22%
49.04%
0.20%
0.00%
3.08%
0.00%
4.62%
87.16%

2.55%

2.55%

0.00%
0.00%

0.00%
0.00%

0.14%
2.69%
89.85%

SALES
6.39%
0.00%
3.77%
10.15%
100.00%

0.14%
2.69%
89.85%

% CHANGE
6.39%
0.00%
3.77%
10.15%
100.00%

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES


PRO FORMA INCOME STATEMENT

Year Ended December


In PHP
NET SALES
COST OF SALES
GROSS PROFIT
OTHER OPERATING INCOME
OPERATING EXPENSES
INCOME FROM OPERATIONS
OTHER INCOME (EXPENSES)
Interest expense
Interest Income
Others-net
INCOME BEFORE INCOME TAX
INCOME TAX EXPENSE
Current
Deferred
NET INCOME

2011A*
38,987,883,405
33,453,130,008
5,534,753,397
1,051,883,532
4,370,772,221
2,215,864,708

2012A
57,466,507,410
48,227,697,388
9,238,810,022
1,667,029,827
7,060,116,430
3,845,723,419

(65,028,007)
25,143,153
28,727,693
2,204,707,547

(74,044,583)
88,964,732
10,919,403
3,871,562,971

714,565,502
(54,852,762)
659,712,740
1,544,994,807

1,292,735,908
(138,711,634)
1,154,024,274
2,717,538,697

EARNINGS PER SHARE


Basic and Diluted earnings per share
0.97
1.11
* This does not include information for Subsidiaries acquired in May 2012
** Year ended September 30 2013

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES


PRO FORMA INCOME STATEMENT

Year Ended December


In Millions PHP
NET SALES
COST OF SALES
GROSS PROFIT
OTHER OPERATING INCOME
OPERATING EXPENSES
INCOME FROM OPERATIONS
OTHER INCOME (EXPENSES)
Interest expense
Interest Income
Others-net
INCOME BEFORE INCOME TAX
INCOME TAX EXPENSE

2011A*
38,988
33,453.13
5,534.75
1,051.88
4,370.77
2,215.86
(65.03)
25.14
28.73
2,204.71
-

2012A
57,467
48,227.70
9,238.81
1,667.03
7,060.12
3,845.72
(74.04)
88.96
10.92
3,871.56
-

Current
Deferred

714.57
1,292.74
(54.85)
(138.71)
659.71
1,154.02
NET INCOME
1,544.99
2,717.54
* This does not include information for Subsidiaries acquired in May 2012

Year Ended December 31


2013F
2014F
68,810,547,400
85,923,730,538
57,747,971,935
72,109,892,555
11,062,575,465
13,813,837,983
1,996,105,908
2,492,537,447
7,094,696,091
10,556,262,579
5,963,985,282
5,750,112,851

2015F
111,700,849,700
93,742,860,322
17,957,989,378
3,240,298,681
13,723,141,352
7,475,146,707

2012
57,466,507,410
48,227,697,388
9,238,810,022
1,667,029,827
7,060,116,430
3,845,723,419

(88,661,179)
106,526,605
13,074,922
5,994,925,630

(110,711,214)
133,019,771
16,326,655
5,788,748,063

(143,924,578)
172,925,702
21,224,652
7,525,372,482

(74,044,583)
88,964,732
10,919,403
3,871,562,971

1,547,925,383
(166,093,676)
1,381,831,707
4,613,093,923

1,932,894,425
(207,401,173)
1,725,493,252
4,063,254,811

2,512,762,753
(269,621,525)
2,243,141,228
5,282,231,255

1,292,735,908
(138,711,634)
1,154,024,274
2,717,538,697

1.66

1.45

Year Ended December 31


2013F
2014F
68,811
85,924
57,747.97
72,109.89
11,062.58
13,813.84
1,996.11
2,492.54
7,094.70
10,556.26
5,963.99
5,750.11
(88.66)
(110.71)
106.53
133.02
13.07
16.33
5,994.93
5,788.75
-

1.87

2015F
111,701
93,742.86
17,957.99
3,240.30
13,723.14
7,475.15
(143.92)
172.93
21.22
7,525.37
-

1.11

2012
57,467
48,228
9,239
1,667
7,060
3,846
(74)
89
11
3,872

1,547.93
(166.09)
1,381.83
4,613.09

1,932.89
(207.40)
1,725.49
4,063.25

2,512.76
(269.62)
2,243.14
5,282.23

1,293
(139)
1,154
2,718

1,000,000.00

Year Ended December 31


SALES
% CHANGE
2011*
SALES % CHANGE
100.00%
47.40%
38,987,883,405 100.00%
33.94%
83.92%
44.16%
33,453,130,008
85.80%
30.79%
16.08%
66.92%
5,534,753,397 14.20%
56.75%
2.90%
58.48%
1,051,883,532
2.70%
34.74%
12.29%
61.53%
4,370,772,221
11.21%
31.40%
6.69%
73.55%
2,215,864,708
5.68%
124.88%
-0.13%
0.15%
0.02%
6.74%

13.87%
253.83%
-61.99%
75.60%

(65,028,007)
25,143,153
28,727,693
2,204,707,547

-0.17%
0.06%
0.07%
5.65%

-70.48%
1076.96%
-218.44%
196.75%

2.25%
-0.24%
2.01%
4.73%

80.91%
152.88%
74.93%
75.89%

714,565,502
(54,852,762)
659,712,740
1,544,994,807

1.83%
-0.14%
1.69%
3.96%

148.31%
-0.61%
183.65%
202.72%

0.97

Year Ended December 31


SALES
% CHANGE
2011*
SALES % CHANGE
100.00%
47.40%
38,988 100.00%
33.94%
83.92%
44.16%
33,453
85.80%
30.79%
16.08%
66.92%
5,535 14.20%
56.75%
2.90%
58.48%
1,052
2.70%
34.74%
12.29%
61.53%
4,371
11.21%
31.40%
6.69%
73.55%
2,216
5.68%
124.88%
-0.13%
0.15%
0.02%
6.74%

13.87%
253.83%
-61.99%
75.60%

(65)
25
29
2,205

-0.17%
0.06%
0.07%
5.65%

-70.48%
1076.96%
-218.44%
196.75%

2.25%
-0.24%
2.01%
4.73%

80.91%
152.88%
74.93%
75.89%

715
(55)
660
1,545

1.83%
-0.14%
1.69%
3.96%

148.31%
-0.61%
183.65%
202.72%

2010*
29,108,004,456
25,577,007,998
3,530,996,458
780,668,193
3,326,329,654
985,334,997

SALES % CHANGE
100.00%
20.72%
87.87%
16.83%
12.13%
59.10%
2.68%
-0.59%
11.43%
30.62%
3.39%
115.05%

2009*
24,112,391,358
21,893,011,892
2,219,379,466
785,285,921
2,546,479,692
458,185,695

PERCENT
100.00%
90.80%
9.20%
3.26%
10.56%
1.90%

(220,264,174)
2,136,283
(24,255,922)
742,951,184

-0.76%
0.01%
-0.08%
2.55%

-24.10%
100.00%
16.02%
293.31%

(290,193,291)
(20,906,114)
188,898,518

-1.20%
0.00%
-0.09%
0.78%

287,772,592
(55,190,037)
232,582,555
510,368,629

0.99%
-0.19%
0.80%
1.75%

212.98%
60.09%
304.68%
288.33%

91,946,742
(34,474,157)
57,472,585
131,425,933

0.38%
-0.14%
0.24%
0.55%

0.40

2010*
29,108
25,577
3,531
781
3,326
985
(220)
2
(24)
743

0.11

SALES % CHANGE
100.00%
20.72%
87.87%
16.83%
12.13%
59.10%
2.68%
-0.59%
11.43%
30.62%
3.39%
115.05%
-0.76%
0.01%
-0.08%
2.55%

-24.10%
100.00%
16.02%
293.31%

2009*
24,112
21,893
2,219
785
2,546
458
(290)
(21)
189

PERCENT
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%

288
(55)
233
510

0.99%
-0.19%
0.80%
1.75%

212.98%
60.09%
304.68%
288.33%

92
(34)
57
131

0.00%
0.00%
0.00%
0.00%

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES


CONSOLIDATED STATEMENT OF FINANCIAL POSITION

In PHP

2011A*

ASSETS
CURRENT ASSETS
Cash and cash equivalent
Investments in Trading Securities
Receivables-net
Merchandise Inventory- at cost
Due from related parties
Prepaid expenses and other current assets

TOTAL CURRENT ASSETS


NON CURRENT ASSETS
Investments
Property and equipment-net
Deferred tax assets-net
Intangibles
Other non current assets

TOTAL NON CURRENT ASSETS


TOTAL ASSETS

1,955,167,541
24,000,214
410,357,431
4,522,929,063
536,409,934
7,448,864,183

7,879,160
6,005,557,739
220,139,294
11,370,121
2,985,865,794
9,230,812,108
16,679,676,291

In PHP

LIABILITIES AND EQUITY


CURRENT LIABILITIES
Accounts payable and other accrued liabilities
Loans payable
Income tax payable
Trust receipts payable
Due to related parties
Current maturities of long term debt, net
of debt issue cost
Other current liabilities

TOTAL CURRENT LIABILITIES

6,234,585,807
186,076,234
21,299,667
8,855,584
177,912,643
6,628,729,935

Non current liabilities


Non current accrued rent
Long term debt- net of current maturities
and debt issue costs
Deferred tax liabilities- net

662,950,406
-

Retirement benefits liability

TOTAL NON CURRENT LIABILITIES


TOTAL LIABILITIES

76,356,980
739,307,386
7,368,037,321

In PHP

EQUITY
Capital stock
Additional paid in capital
Retained Earnings

2,000,000,000
5,168,821,728
2,142,817,242
TOTAL EQUITY
9,311,638,970
TOTAL LIABILITIES AND EQUITY
16,679,676,291
* This does not include information for Subsidiaries acquired in May 2012
Retained Earnings

FINANCIAL RATIOS (PAST PERFORMANCE)

2012A

9,084,325,007
34,946,521
956,866,308
6,611,541,340
7,014,202
688,330,063
17,383,023,441

7,879,160
9,582,936,212
17,432,364,788
1,038,071,790
28,061,251,950
45,444,275,391

SALES

GEOMEAN

2013F

15.81%
-15.20% using interim figure
1.67%
11.51%

10,520,378,189
29,634,481
972,798,947
7,372,201,433
37.33% using interim figure
945,281,476
19,840,294,527

N/A

7,879,160
26.27% using interim figure 12,100,236,787
17,432,364,788
1,038,071,790
30,578,552,525
50,418,847,052

9,286,918,686
508,500,000
438,660,875
8,130,029
237,545,408

16.16%
59.00% using interim figure
0.76%
0.01%
0.41%

10,787,738,251
808,500,000
442,009,318.67
8,131,179
238,527,333

43,140,099
253,949,662
10,776,844,759

33.94% using interim figure

41,170,323
340,150,014
12,666,226,420

1,120,906,123

30.49% using interim figure

1,462,726,336

4,909,071,263
976,419,442

N/A
N/A

4,909,071,263
976,419,442

157,164,520
7,163,561,348
17,940,406,107

26.51% using interim figure

198,829,647
7,547,046,688
20,213,273,108

2,766,406,250
20,830,387,095
3,907,075,939
27,503,869,284
45,444,275,391

0.61% using interim figure

2,783,317,412
20,830,387,095
7,966,889,862
31,580,594,369
51,793,867,477

N/A

AFN

AFN
7,966,889,862

EFN
Assumptions

40%- N/P
60%- LT Debt

1,375,020,425

2014F

2015F

2012

12,183,443,146
25,129,897
988,996,879
8,220,375,731
1,298,152,030
22,716,097,682

14,109,405,976
21,310,031
1,005,464,519
9,166,132,771
1,782,748,035
26,085,061,333

9,084,325,007
34,946,521
956,866,308
6,611,541,340
7,014,202
688,330,063
17,383,023,441

19.99%
0.08%
2.11%
14.55%
0.02%
1.51%
38.25%

7,879,160
15,278,796,296
17,432,364,788
1,038,071,790
33,757,112,034
56,473,209,716

7,879,160
19,292,318,024
17,432,364,788
1,038,071,790
37,770,633,762
63,855,695,094

7,879,160
9,582,936,212
17,432,364,788
1,038,071,790
28,061,251,950
45,444,275,391

0.02%
21.09%
0.00%
38.36%
2.28%
61.75%
100.00%

2012

TOTAL ASSETS

TOTAL
LAIBILITIES AND
EQUITY

12,531,098,906
1,285,491,150
445,383,322
8,132,330
239,513,318

14,556,196,686
2,043,893,009
448,783,080
8,133,480
240,503,378

9,286,918,686
508,500,000
438,660,875
8,130,029
237,545,408

20.44%
1.12%
0.97%
0.02%
0.52%

40,776,691
455,610,104
15,006,005,821

40,360,465
610,261,822
17,948,131,920

43,140,099
253,949,662
10,776,844,759

0.09%
0.56%
23.71%

1,908,784,590

2,490,868,264

1,120,906,123

2.47%

4,909,071,263
976,419,442

4,909,071,263
976,419,442

4,909,071,263
976,419,442

10.80%
2.15%

251,540,415
8,045,815,709
23,051,821,530

318,225,079
8,694,584,049
26,642,715,968

157,164,520
7,163,561,348
17,940,406,107

2012
2,800,331,953
20,830,387,095
11,476,864,674
35,107,583,721
58,159,405,251

2,817,450,504
20,830,387,095
16,205,815,928
39,853,653,527
66,496,369,496

1,686,195,535

2,640,674,402

2,766,406,250
20,830,387,095
3,907,075,939
27,503,869,284
45,444,275,391

0.35%
15.76%
39.48%

TOTAL
LAIBILITIES AND
EQUITY
6.09%
45.84%
8.60%
60.52%
100.00%

% CHANGE

364.63%
45.61%
133.18%
46.18%
100.00%
28.32%
133.36%

December 31
TOTAL ASSETS

2011*

1,955,167,541
24,000,214
410,357,431
4,522,929,063
536,409,934
7,448,864,183

11.72%
0.14%
2.46%
27.12%
0.00%
3.22%
44.66%

0.00%
7,879,160
59.57%
6,005,557,739
-100.00%
220,139,294
153217.32%
11,370,121
-65.23%
2,985,865,794
204.00%
9,230,812,108
172.45% 16,679,676,291

0.05%
36.01%
1.32%
0.07%
17.90%
55.34%
100.00%

% CHANGE

6.38%
0.87%
69.86%
54.14%
0.00%
41.78%
37.54%

2010*

1,837,943,774
23,792,400
241,580,625
2,934,251,679
378,343,613
5,415,912,091

100.00%
44.87%
4,145,507,632
33.19%
165,286,533
100.00%
652.08%
397,011,879
96.07%
4,707,806,044
64.76% 10,123,718,135

December 31

% CHANGE

TOTAL
LAIBILITIES AND
EQUITY
% CHANGE

2011*

2010*

48.96%
100.00%
135.74%
-61.83%
2582.44%

6,234,585,807
186,076,234
21,299,667
8,855,584

37.38%
0.00%
1.12%
0.13%
0.05%

24.52%
-100.00%
82.10%
-31.14%
100.00%

5,006,982,756
2,092,330,000
102,181,682
30,932,358
-

100.00%
42.74%
62.58%

177,912,643
6,628,729,935

0.00%
1.07%
39.74%

0.00%
-40.02%
-11.96%

296,627,690
7,529,054,486

69.08%

662,950,406

3.97%

30.60%

507,609,692

0.00%
0.00%

0.00%
0.00%

100.00%
100.00%

105.83%
868.96%
143.49%

76,356,980
739,307,386
7,368,037,321

0.46%
4.43%
44.17%

94.63%
35.20%
-8.77%

39,231,522
546,841,214
8,075,895,700

December 31

% CHANGE

2011*

38.32%
2,000,000,000
303.00%
5,168,821,728
82.33%
2,142,817,242
195.37%
9,311,638,970
172.45% 16,679,676,291

TOTAL
LAIBILITIES AND
EQUITY
% CHANGE
11.99%
30.99%
12.85%
55.83%
100.00%

2010*

37.93%
1,450,000,000
100.00%
258.44%
597,822,435
354.71%
2,047,822,435
64.76% 10,123,718,135

TOTAL ASSETS

18.15%
0.24%
2.39%
28.98%
0.00%
3.74%
53.50%

0.00%
40.95%
1.63%
0.00%
3.92%
46.50%
100.00%

% CHANGE

61.78%
93.43%
-62.56%
54.09%
-100.00%
77.21%
-45.38%

0.00%
2.93%
74.37%

TOTAL ASSETS % CHANGE

1,136,100,000
12,300,000
645,300,000
1,904,300,000
6,004,200,000
213,500,000
9,915,700,000

9.11%
0.10%
5.18%
15.27%
48.16%
1.71%
79.53%

9.11%
0.10%
5.18%
15.27%
48.16%
1.71%
79.53%

0.00%
91.39%
2,166,000,000
63.33%
101,200,000
0.00%
39.30%
285,000,000
84.46%
2,552,200,000
-18.80% 12,467,900,000

0.00%
17.37%
0.81%
0.00%
2.29%
20.47%
100.00%

0.00%
17.37%
0.81%
0.00%
2.29%
20.47%
100.00%

TOTAL
LAIBILITIES AND
EQUITY
% CHANGE

49.46%
20.67%
1.01%
0.31%
0.00%

2009*

32.90%
-65.78%
305.48%
100.00%
-100.00%

TOTAL
LAIBILITIES
AND EQUITY

2009*

3,767,500,000
6,114,200,000
25,200,000
383,500,000

0.00%
-48.56%
576,600,000
-30.72% 10,867,000,000

5.01%

59.63%

0.00%
0.00%

0.00%
0.00%

318,000,000
-

% CHANGE

30.22%
49.04%
0.20%
0.00%
3.08%
0.00%
0.00%
4.62%
87.16%

30.22%
49.04%
0.20%
0.00%
3.08%
0.00%
4.62%
87.16%

2.55%

2.55%

0.00%
0.00%

0.00%
0.00%

0.39%
5.40%
79.77%

126.77%
17,300,000
63.09%
335,300,000
-27.91% 11,202,300,000

TOTAL
LAIBILITIES AND
EQUITY
% CHANGE
14.32%
0.00%
5.91%
20.23%
100.00%

2009*

82.14%
796,100,000
0.00%
27.33%
469,500,000
61.81%
1,265,600,000
-18.80% 12,467,900,000

0.14%
2.69%
89.85%

TOTAL
LAIBILITIES
AND EQUITY
6.39%
0.00%
3.77%
10.15%
100.00%

0.14%
2.69%
89.85%

% CHANGE
6.39%
0.00%
3.77%
10.15%
100.00%

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES


CONSOLIDATED STATEMENT OF INCOME
Year Ended December 31
2012
NET SALES
GROSS PROFIT
OPERATING EXPENSES
NET INCOME

57,466,507,410
9,238,810,022
7,060,116,430
2,717,538,697

TOTAL ASSETS
TOTAL LIABILITIES
TOTAL EQUITY

45,444,275,391
17,940,406,107
27,503,869,284

Basic and Diluted earnings per share


1.11
* This does not include information for Subsidiaries acquired in May 2012

70,000,000,000
60,000,000,000

57,466,507,410

47.40%

50,000,000,000
40,000,000,000
30,000,000,000
20,000,000,000
10,000,000,000

38,987,883,405
29,108,004,456

50,000,000,000
38,987,883,405

40,000,000,000

29,108,004,456

30,000,000,000
20,000,000,000
10,000,000,000
-

2012

50,000,000,000
45,000,000,000

2011*

2010*

45,444,275,391

40,000,000,000
35,000,000,000
30,000,000,000
25,000,000,000
20,000,000,000

16,679,676,291

15,000,000,000

10,123,718,135

10,000,000,000
5,000,000,000
-

30,000,000,000

2012

2011*

2010*

27,503,869,284

25,000,000,000
20,000,000,000
15,000,000,000
9,311,638,970

10,000,000,000
5,000,000,000
-

2,047,822,435
2012

2011*
TOTAL EQUITY

2010*

Year Ended December 31


2011*

8,000,000,000

2010*

7,000,000,000

38,987,883,405
5,534,753,397
4,370,772,221
1,544,994,807

29,108,004,456
3,530,996,458
3,326,329,654
510,368,629

6,000,000,000

16,679,676,291
7,368,037,321
9,311,638,970

10,123,718,135
8,075,895,700
2,047,822,435

2,000,000,000

0.97

7,060,116,430

5,000,000,000

4,370,772,2

4,000,000,000
3,000,000,000

1,000,000,000
-

2012

2011*

0.40

in May 2012

3,000,000,000

2,717,538,697

2,500,000,000

33
.94
%

2,000,000,000

1,544,994,8

87,883,405

1,500,000,000
29,108,004,456
1,000,000,000
500,000,000

2,000,000,000

1,544,994,8

87,883,405

1,500,000,000
29,108,004,456
1,000,000,000
500,000,000
-

2011*

2012

NET INCOME

2010*

20,000,000,000
18,000,000,000

2011*

17,940,406,107

16,000,000,000
14,000,000,000
12,000,000,000
10,000,000,000

7,368,03

8,000,000,000

679,676,291

6,000,000,000
10,123,718,135

4,000,000,000
2,000,000,000
-

2011*

2010*

2011*

2,047,822,435
2010*

201
TOTAL LAIBILITIES

10,000,000,000
9,000,000,000
8,000,000,000
7,000,000,000
6,000,000,000
5,000,000,000
4,000,000,000
3,000,000,000
2,000,000,000
1,000,000,000
-

1,638,970

2012

9,238,810,022

5,53

2012

,430

61.5
3

31
.4
0%

4,370,772,221
3,326,329,654

2011*

2010*

697

1,544,994,807

510,368,629

1,544,994,807

510,368,629

NET INCOME

2011*

2010*

06,107

7,368,037,321

2011*

8,075,895,700

2010*

TOTAL LAIBILITIES

238,810,022

66.
92%

5,534,753,397

56.
75%
3,530,996,458

2012

2011*

2010*

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES


CONSOLIDATED STATEMENT OF FINANCIAL POSITION

December
In PHP

2012

ASSETS
CURRENT ASSETS
Cash and cash equivalent
Investments in Trading Securities
Receivables-net
Merchandise Inventory- at cost
Due from related parties
Prepaid expenses and other current assets

TOTAL CURRENT ASSETS


NON CURRENT ASSETS
Investments
Property and equipment-net
Deferred tax assets-net
Intangibles
Other non current assets

TOTAL NON CURRENT ASSETS


TOTAL ASSETS

9,084,325,007
34,946,521
956,866,308
6,611,541,340
7,014,202
688,330,063
17,383,023,441

7,879,160
9,582,936,212
17,432,364,788
1,038,071,790
28,061,251,950
45,444,275,391

LIABILITIES AND EQUITY


CURRENT LIABILITIES
Accounts payable and other accrued liabilities
Loans payable
Income tax payable
Trust receipts payable
Due to related parties
Current maturities of long term debt, net
of debt issue cost
Other current liabilities

TOTAL CURRENT LIABILITIES

9,286,918,686
508,500,000
438,660,875
8,130,029
237,545,408
43,140,099
253,949,662
10,776,844,759

Non current liabilities


Non current accrued rent
Long term debt- net of current maturities
and debt issue costs
Deferred tax liabilities- net
Retirement benefits liability

TOTAL NON CURRENT LIABILITIES


TOTAL LIABILITIES

1,120,906,123
4,909,071,263
976,419,442
157,164,520
7,163,561,348
17,940,406,107

EQUITY
Capital stock

2,766,406,250

Additional paid in capital


Retained Earnings

20,830,387,095
3,907,075,939
TOTAL EQUITY
27,503,869,284
TOTAL LIABILITIES AND EQUITY
45,444,275,391
* This does not include information for Subsidiaries acquired in May 2012

CURRENT RATIO

2012
1.61

Current Assets

17,383,023,441

Current Liabilities

10,776,844,759

QUICK RATIO

1.00

(Current Assets- Inventory)

10,771,482,101

Current Liabilities

10,776,844,759

CASH RATIO
Cash + Cash Equivalents+ Marketable Securities
Current Liabilities

ASSET TO EQUITY RATIO


Total Assets
Total Equity
DEBT TO EQUITY RATIO

0.85
9,119,271,528
10,776,844,759

1.65
45,444,275,391
27,503,869,284
0.65

Total Liabilities
Total Equity
NET DEBT TO EQUITY RATIO
Net Debt
Total Equity
EQUITY TO DEBT RATIO
Total Equity
Total Liabilities

17,940,406,107
27,503,869,284
0.32
8,856,081,100
27,503,869,284
1.53
27,503,869,284
17,940,406,107

December 31
2011*

2010*

1,955,167,541
24,000,214
410,357,431
4,522,929,063
536,409,934
7,448,864,183

1,837,943,774
23,792,400
241,580,625
2,934,251,679
378,343,613
5,415,912,091

7,879,160
6,005,557,739
220,139,294
11,370,121
2,985,865,794
9,230,812,108
16,679,676,291

4,145,507,632
165,286,533
397,011,879
4,707,806,044
10,123,718,135

6,234,585,807
186,076,234
21,299,667
8,855,584

5,006,982,756
2,092,330,000
102,181,682
30,932,358
-

177,912,643
6,628,729,935

296,627,690
7,529,054,486

662,950,406

507,609,692

76,356,980
739,307,386
7,368,037,321

39,231,522
546,841,214
8,075,895,700

2,000,000,000

1,450,000,000

2009*

1,136,100,000
12,300,000
645,300,000
1,904,300,000
6,004,200,000
213,500,000
9,915,700,000

###
2,166,000,000
101,200,000
###
285,000,000
2,552,200,000
12,467,900,000

3,767,500,000
6,114,200,000
25,200,000
383,500,000
###
576,600,000
10,867,000,000

318,000,000
###
###
17,300,000
335,300,000
11,202,300,000

796,100,000

5,168,821,728
2,142,817,242
9,311,638,970
16,679,676,291

2011
1.12

597,822,435
2,047,822,435
10,123,718,135

2010
0.72

7,448,864,183

5,415,912,091

6,628,729,935

7,529,054,486

0.44

0.33

2,925,935,120

2,481,660,412

6,628,729,935

7,529,054,486

0.30
1,979,167,755
6,628,729,935

1.79
16,679,676,291
9,311,638,970
0.79

0.25
1,861,736,174
7,529,054,486

4.94
10,123,718,135
2,047,822,435
3.94

###
469,500,000
1,265,600,000
12,467,900,000

7,368,037,321
9,311,638,970
0.58
5,412,869,780
9,311,638,970
1.26
9,311,638,970
7,368,037,321

8,075,895,700
2,047,822,435
3.05
6,237,951,926
2,047,822,435
0.25
2,047,822,435
8,075,895,700

LIQUIDITY RATIOS- Measures the ability of the company to


repay short term liabilities when they come due.
2012
2011
2010
CURRENT RATIO

1.61

1.12

0.72

QUICK RATIO

1.00

0.44

0.33

CASH RATIO

0.85

0.30

0.25

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES


CONSOLIDATED STATEMENT OF FINANCIAL POSITION

December
In PHP

2012

ASSETS
CURRENT ASSETS
Cash and cash equivalent
Investments in Trading Securities
Receivables-net
Merchandise Inventory- at cost
Due from related parties
Prepaid expenses and other current assets

TOTAL CURRENT ASSETS


NON CURRENT ASSETS
Investments
Property and equipment-net
Deferred tax assets-net
Intangibles
Other non current assets

TOTAL NON CURRENT ASSETS


TOTAL ASSETS

9,084,325,007
34,946,521
956,866,308
6,611,541,340
7,014,202
688,330,063
17,383,023,441

7,879,160
9,582,936,212
17,432,364,788
1,038,071,790
28,061,251,950
45,444,275,391

LIABILITIES AND EQUITY


CURRENT LIABILITIES
Accounts payable and other accrued liabilities
Loans payable
Income tax payable
Trust receipts payable
Due to related parties
Current maturities of long term debt, net
of debt issue cost
Other current liabilities

TOTAL CURRENT LIABILITIES

9,286,918,686
508,500,000
438,660,875
8,130,029
237,545,408
43,140,099
253,949,662
10,776,844,759

Non current liabilities


Non current accrued rent
Long term debt- net of current maturities
and debt issue costs
Deferred tax liabilities- net
Retirement benefits liability

TOTAL NON CURRENT LIABILITIES


TOTAL LIABILITIES

1,120,906,123
4,909,071,263
976,419,442
157,164,520
7,163,561,348
17,940,406,107

EQUITY
Capital stock

2,766,406,250

Additional paid in capital


Retained Earnings

20,830,387,095
3,907,075,939
TOTAL EQUITY
27,503,869,284
TOTAL LIABILITIES AND EQUITY
45,444,275,391
* This does not include information for Subsidiaries acquired in May 2012

LIQUIDITY RATIOS
CURRENT RATIO

2012
1.61

Current Assets

17,383,023,441

Current Liabilities

10,776,844,759

QUICK RATIO

1.00

(Current Assets- Inventory)

10,771,482,101

Current Liabilities

10,776,844,759

CASH RATIO
Cash + Cash Equivalents+ Marketable Securities
Current Liabilities
CFO RATIO
CFO
Average Current Liabilities

0.85
9,119,271,528
10,776,844,759
0.47
4,133,165,006
8,702,787,347

ACTIVITY RATIOS
RECEIVABLES TURNOVER
Net Sales
Average Net Trade Receivables
INVENTORY TURNOVER
Cost of Goods Sold
Average Total Inventory
DAYS OF SALES OUTSTANDING
365
Receivables Turnover
TOTAL ASSETS TURNOVER
Revenue
Average Total Assets
FIXED ASSETS TURNOVER

2012
84.06
57,466,507,410
683,611,870
8.66
48,227,697,388
5,567,235,202
4.34
365
84.06
1.85
57,466,507,410
31,061,975,841
7.37

Revenue
Average Net Fixed Assets
WORKING CAPITAL TURNOVER
Revenue
Average Working Capital

SOLVENCY RATIOS
DEBT TO EQUITY RATIO
Total Liabilities
Total Equity
DEBT RATIO
Total Liabilities
Total Assets
FINANCIAL LEVERAGE RATIO

57,466,507,410
7,794,246,975.50
4.21
57,466,507,410
13,644,975,741

2012
0.65
17,940,406,107
27,503,869,284
0.39
17,940,406,107
45,444,275,391
2.45

Average Total Assets


Average Total Equity

31,061,975,841
12,654,221,714

TIMES INTEREST EARNED


EBIT
Interest Expense
Total Liabilities

51.94
3,845,723,419
74,044,583
17,940,406,107

December 31
2011*

2010*

1,955,167,541
24,000,214
410,357,431
4,522,929,063
536,409,934
7,448,864,183

1,837,943,774
23,792,400
241,580,625
2,934,251,679
378,343,613
5,415,912,091

7,879,160
6,005,557,739
220,139,294
11,370,121
2,985,865,794
9,230,812,108
16,679,676,291

4,145,507,632
165,286,533
397,011,879
4,707,806,044
10,123,718,135

6,234,585,807
186,076,234
21,299,667
8,855,584

5,006,982,756
2,092,330,000
102,181,682
30,932,358
-

177,912,643
6,628,729,935

296,627,690
7,529,054,486

662,950,406

507,609,692

76,356,980
739,307,386
7,368,037,321

39,231,522
546,841,214
8,075,895,700

2,000,000,000

1,450,000,000

2009*

1,136,100,000
12,300,000
645,300,000
1,904,300,000
6,004,200,000
213,500,000
9,915,700,000

###
2,166,000,000
101,200,000
###
285,000,000
2,552,200,000
12,467,900,000

3,767,500,000
6,114,200,000
25,200,000
383,500,000
###
576,600,000
10,867,000,000

318,000,000
###
###
17,300,000
335,300,000
11,202,300,000

796,100,000

5,168,821,728
2,142,817,242
9,311,638,970
16,679,676,291

2011
1.12

597,822,435
2,047,822,435
10,123,718,135

2010
0.72

7,448,864,183

5,415,912,091

6,628,729,935

7,529,054,486

0.44

0.33

2,925,935,120

2,481,660,412

6,628,729,935

7,529,054,486

0.30
1,979,167,755
6,628,729,935
0.19

0.25
1,861,736,174
7,529,054,486
0.12

1,357,874,842
7,078,892,211

1,102,378,087
9,198,027,243

2011
119.61
38,987,883,405
325,969,028

2010
65.64
29,108,004,456
443,440,313

8.97
33,453,130,008
3,728,590,371
3.05
365
119.61
2.91
38,987,883,405
13,401,697,213
7.68

10.57
25,577,007,998
2,419,275,840
5.56
365
65.64
2.58
29,108,004,456
11,295,809,068
9.22

###
469,500,000
1,265,600,000
12,467,900,000

38,987,883,405
5,075,532,685.50
5.35
38,987,883,405
7,292,617,537

2011
0.79
7,368,037,321
9,311,638,970
0.44
7,368,037,321
16,679,676,291
1.74

29,108,004,456
3,155,753,816.00
3.52
29,108,004,456
8,278,207,605

2010
3.94
8,075,895,700
2,047,822,435
0.80
8,075,895,700
10,123,718,135
1.17

13,401,697,213
7,721,966,511

11,295,809,068
9,639,097,850

34.08
2,215,864,708
65,028,007
7,368,037,321

4.47
985,334,997
220,264,174
8,075,895,700

LIQUIDITY RATIOS- Measures the ability of the company to repay short


term liabilities when they come due.
2012
2011
2010
CURRENT RATIO

1.61

1.12

0.72

QUICK RATIO

1.00

0.44

0.33

CASH RATIO

0.85

0.30

0.25

CFO RATIO

0.47

0.19

0.12

ACTIVITY RATIOS- Measures how efficient the company is in managing its


assets.
2012
2011
2010
RECEIVABLES TURNOVER
INVENTORY TURNOVER
DAYS OF SALES OUTSTANDING
TOTAL ASSETS TURNOVER
FIXED ASSETS TURNOVER
WORKING CAPITAL TURNOVER

84.06
8.66
4.34
1.85
7.37
4.21

119.61
8.97
3.05
2.91
7.68
5.35

65.64
10.57
5.56
2.58
9.22
3.52

SOLVENCY RATIOS- the company's ability to settle its long term


obligations
2012
2011
2010
DEBT RATIO
DEBT TO EQUITY RATIO
FINANCIAL LEVERAGE RATIO
TIMES INTEREST EARNED
ASSET TO EQUITY RATIO
EQUITY TO DEBT RATIO

0.39
0.65
2.45
51.94
1.65
1.53

0.44
0.79
1.74
34.08
1.79
1.26

0.80
3.94
1.17
4.47
4.94
0.25

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES


CONSOLIDATED STATEMENT OF FINANCIAL POSITION

D
In PHP

2012

PERCENT

ASSETS
CURRENT ASSETS
Cash and cash equivalent
Investments in Trading Securities
Receivables-net
Merchandise Inventory- at cost
Due from related parties
Prepaid expenses and other current assets

TOTAL CURRENT ASSETS


NON CURRENT ASSETS
Investments
Property and equipment-net
Deferred tax assets-net
Intangibles
Other non current assets

TOTAL NON CURRENT ASSETS


TOTAL ASSETS

9,084,325,007
34,946,521
956,866,308
6,611,541,340
7,014,202
688,330,063
17,383,023,441

19.99%
0.08%
2.11%
14.55%
0.02%
1.51%
38.25%

7,879,160
9,582,936,212
17,432,364,788
1,038,071,790
28,061,251,950
45,444,275,391

0.02%
21.09%
0.00%
38.36%
2.28%
61.75%
100.00%

9,286,918,686
508,500,000
438,660,875
8,130,029
237,545,408

20.44%
1.12%
0.97%
0.02%
0.52%

43,140,099
253,949,662
10,776,844,759

0.09%
0.56%
23.71%

1,120,906,123

2.47%

4,909,071,263
976,419,442
157,164,520
7,163,561,348
17,940,406,107

10.80%
2.15%
0.35%
15.76%
39.48%

2,766,406,250

6.09%

LIABILITIES AND EQUITY


CURRENT LIABILITIES
Accounts payable and other accrued liabilities
Loans payable
Income tax payable
Trust receipts payable
Due to related parties
Current maturities of long term debt, net
of debt issue cost
Other current liabilities

TOTAL CURRENT LIABILITIES


Non current liabilities
Non current accrued rent
Long term debt- net of current maturities
and debt issue costs
Deferred tax liabilities- net
Retirement benefits liability

TOTAL NON CURRENT LIABILITIES


TOTAL LIABILITIES
EQUITY
Capital stock

Additional paid in capital


Retained Earnings

20,830,387,095
3,907,075,939
TOTAL EQUITY
27,503,869,284
TOTAL LIABILITIES AND EQUITY
45,444,275,391
* This does not include information for Subsidiaries acquired in May 2012

FINANCIAL RATIOS (PAST PERFORMANCE)

45.84%
8.60%
60.52%
100.00%

December 31
2011*
PERCENT

1,955,167,541
24,000,214
410,357,431
4,522,929,063
536,409,934
7,448,864,183

7,879,160
6,005,557,739
220,139,294
11,370,121
2,985,865,794
9,230,812,108
16,679,676,291

11.72%
0.14%
2.46%
27.12%
0.00%
3.22%
44.66%

2010*

1,837,943,774
23,792,400
241,580,625
2,934,251,679
378,343,613
5,415,912,091

0.05%
36.01%
4,145,507,632
1.32%
165,286,533
0.07%
17.90%
397,011,879
55.34%
4,707,806,044
100.00% 10,123,718,135

6,234,585,807
186,076,234
21,299,667
8,855,584

37.38%
0.00%
1.12%
0.13%
0.05%

5,006,982,756
2,092,330,000
102,181,682
30,932,358
-

177,912,643
6,628,729,935

0.00%
1.07%
39.74%

296,627,690
7,529,054,486

662,950,406

3.97%

507,609,692

76,356,980
739,307,386
7,368,037,321

0.00%
0.00%
0.46%
4.43%
44.17%

39,231,522
546,841,214
8,075,895,700

2,000,000,000

11.99%

1,450,000,000

PERCENT

18.15%
0.24%
2.39%
28.98%
0.00%
3.74%
53.50%

2009*

1,136,100,000
12,300,000
645,300,000
1,904,300,000
6,004,200,000
213,500,000
9,915,700,000

0.00%
40.95%
2,166,000,000
1.63%
101,200,000
0.00%
3.92%
285,000,000
46.50%
2,552,200,000
100.00% 12,467,900,000

49.46%
20.67%
1.01%
0.31%
0.00%

3,767,500,000
6,114,200,000
25,200,000
383,500,000

0.00%
2.93%
576,600,000
74.37% 10,867,000,000

5.01%

318,000,000

0.00%
0.00%
0.39%
17,300,000
5.40%
335,300,000
79.77% 11,202,300,000

14.32%

796,100,000

5,168,821,728
2,142,817,242
9,311,638,970
16,679,676,291

30.99%
12.85%
597,822,435
55.83%
2,047,822,435
100.00% 10,123,718,135

0.00%
5.91%
469,500,000
20.23%
1,265,600,000
100.00% 12,467,900,000

PERCENT

9.11%
0.10%
5.18%
15.27%
48.16%
1.71%
79.53%

0.00%
17.37%
0.81%
0.00%
2.29%
20.47%
100.00%

30.22%
49.04%
0.20%
0.00%
3.08%
0.00%
4.62%
87.16%

2.55%
0.00%
0.00%
0.14%
2.69%
89.85%

6.39%

0.00%
3.77%
10.15%
100.00%

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES


CONSOLIDATED STATEMENT OF FINANCIAL POSITION

In PHP

2012

ASSETS
CURRENT ASSETS
Cash and cash equivalent
Investments in Trading Securities
Receivables-net
Merchandise Inventory- at cost
Due from related parties
Prepaid expenses and other current assets

TOTAL CURRENT ASSETS


NON CURRENT ASSETS
Investments
Property and equipment-net
Deferred tax assets-net
Intangibles
Other non current assets

TOTAL NON CURRENT ASSETS


TOTAL ASSETS

9,084,325,007
34,946,521
956,866,308
6,611,541,340
7,014,202
688,330,063
17,383,023,441

7,879,160
9,582,936,212
17,432,364,788
1,038,071,790
28,061,251,950
45,444,275,391

LIABILITIES AND EQUITY


CURRENT LIABILITIES
Accounts payable and other accrued liabilities
Loans payable
Income tax payable
Trust receipts payable
Due to related parties
Current maturities of long term debt, net
of debt issue cost
Other current liabilities

TOTAL CURRENT LIABILITIES

9,286,918,686
508,500,000
438,660,875
8,130,029
237,545,408
43,140,099
253,949,662
10,776,844,759

Non current liabilities


Non current accrued rent
Long term debt- net of current maturities
and debt issue costs
Deferred tax liabilities- net
Retirement benefits liability

TOTAL NON CURRENT LIABILITIES


TOTAL LIABILITIES

1,120,906,123
4,909,071,263
976,419,442
157,164,520
7,163,561,348
17,940,406,107

EQUITY
Capital stock

2,766,406,250

Additional paid in capital


Retained Earnings

20,830,387,095
3,907,075,939
TOTAL EQUITY
27,503,869,284
TOTAL LIABILITIES AND EQUITY
45,444,275,391
* This does not include information for Subsidiaries acquired in May 2012

2011*

December 31
AMOUNT

1,955,167,541
24,000,214
410,357,431
4,522,929,063
536,409,934
7,448,864,183

7,879,160
6,005,557,739
220,139,294
11,370,121
2,985,865,794
9,230,812,108
16,679,676,291

6,234,585,807
186,076,234
21,299,667
8,855,584

7,129,157,466
10,946,307
546,508,877
2,088,612,277
7,014,202
151,920,129
9,934,159,258

PERCENT

2010*

364.63%
45.61%
133.18%
46.18%
100.00%
28.32%
133.36%

1,837,943,774
23,792,400
241,580,625
2,934,251,679
378,343,613
5,415,912,091

0.00%
3,577,378,473
59.57%
(220,139,294)
-100.00%
17,420,994,667 153217.32%
(1,947,794,004)
-65.23%
###
204.00%
###
172.45%

4,145,507,632
165,286,533
397,011,879
4,707,806,044
10,123,718,135

3,052,332,879
508,500,000
252,584,641
(13,169,638)
228,689,824

48.96%
100.00%
135.74%
-61.83%
2582.44%

5,006,982,756
2,092,330,000
102,181,682
30,932,358
-

177,912,643
6,628,729,935

43,140,099
76,037,019
4,148,114,824

100.00%
42.74%
62.58%

296,627,690
7,529,054,486

662,950,406

457,955,717

69.08%

507,609,692

100.00%
100.00%
105.83%
868.96%
143.49%

39,231,522
546,841,214
8,075,895,700

38.32%

1,450,000,000

76,356,980
739,307,386
7,368,037,321

2,000,000,000

4,909,071,263
976,419,442
80,807,540
6,424,253,962
###

766,406,250

5,168,821,728
2,142,817,242
9,311,638,970
16,679,676,291

15,661,565,367
1,764,258,697
###
###

303.00%
82.33%
195.37%
172.45%

597,822,435
2,047,822,435
10,123,718,135

AMOUNT

PERCENT

2009*

AMOUNT

117,223,767
207,814
168,776,806
1,588,677,384
158,066,321
2,032,952,092

6.38%
0.87%
69.86%
54.14%
0
41.78%
37.54%

1,136,100,000
12,300,000
645,300,000
1,904,300,000
6,004,200,000
213,500,000
9,915,700,000

701,843,774
11,492,400
(403,719,375)
1,029,951,679
(6,004,200,000)
164,843,613
###

7,879,160
1,860,050,107
54,852,761
11,370,121
2,588,853,915
4,523,006,064
6,555,958,156

0.00%
44.87%
33.19%
100%
652.08%
96.07%
64.76%

2,166,000,000
101,200,000
285,000,000
2,552,200,000
12,467,900,000

1,979,507,632
64,086,533
112,011,879
2,155,606,044
###

1,227,603,051
(2,092,330,000)
83,894,552
(9,632,691)
8,855,584

24.52%
-100.00%
82.10%
-31.14%
100.00%

3,767,500,000
6,114,200,000
25,200,000
383,500,000

1,239,482,756
(4,021,870,000)
76,981,682
30,932,358
(383,500,000)

(118,715,047)
(900,324,551)

0.00%
-40.02%
-11.96%

576,600,000
10,867,000,000

(279,972,310)
###

30.60%

318,000,000

0.00%
0.00%
94.63%
35.20%
-8.77%

17,300,000
335,300,000
11,202,300,000

37.93%

796,100,000

155,340,714
37,125,458
192,466,172
(707,858,379)

550,000,000

189,609,692
21,931,522
211,541,214
###

653,900,000

5,168,821,728
1,544,994,807
7,263,816,535
6,555,958,156

0.00%
258.44%
354.71%
64.76%

469,500,000
1,265,600,000
12,467,900,000

128,322,435
782,222,435
###

PERCENT

61.78%
93.43%
-62.56%
54.09%
0.00%
77.21%
-45.38%

0.00%
91.39%
63.33%
0.00%
39.30%
84.46%
-18.80%

32.90%
-65.78%
305.48%
100.00%
100.00%
0.00%
-48.56%
-30.72%

59.63%
0.00%
0.00%
126.77%
63.09%
-27.91%

82.14%

0.00%
27.33%
61.81%
-18.80%

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES


CONSOLIDATED STATEMENT OF INCOME

Year Ended December 3


In PHP
NET SALES
COST OF SALES
GROSS PROFIT
OTHER OPERATING INCOME
OPERATING EXPENSES
INCOME FROM OPERATIONS
OTHER INCOME (EXPENSES)
Interest expense
Interest Income
Others-net
INCOME BEFORE INCOME TAX
INCOME TAX EXPENSE
Current
Deferred
NET INCOME

2012
57,466,507,410
48,227,697,388
9,238,810,022
1,667,029,827
7,060,116,430
3,845,723,419
(74,044,583)
88,964,732
10,919,403
3,871,562,971

1,292,735,908
(138,711,634)
1,154,024,274
2,717,538,697

EARNINGS PER SHARE


Basic and Diluted earnings per share
1.11
* This does not include information for Subsidiaries acquired in May 2012

PROFITABILITY RATIOS
NET PROFIT MARGIN
Net Income
Net Sales
OPERATING PROFIT MARGIN
Operating Profit
Net Sales
GROSS PROFIT MARGIN
Gross Profit
Net Sales
RETURN ON ASSETS
Net Income
Average Total Assets
RETURN ON EQUITY

2012
4.73%
2,717,538,697
57,466,507,410
6.69%
3,845,723,419
57,466,507,410
16.08%
9,238,810,022
57,466,507,410
5.98%
2,717,538,697
45,444,275,391
14.76%

Net Income
Average Shareholder's Equity

2,717,538,697
18,407,754,127

Year Ended December 31


2011*
2010*
38,987,883,405
29,108,004,456
33,453,130,008
25,577,007,998
5,534,753,397
3,530,996,458
1,051,883,532
780,668,193
4,370,772,221
3,326,329,654
2,215,864,708
985,334,997

2009*
24,112,391,358
21,893,011,892
2,219,379,466
785,285,921
2,546,479,692
458,185,695

(65,028,007)
25,143,153
28,727,693
2,204,707,547

(220,264,174)
2,136,283
(24,255,922)
742,951,184

(290,193,291)
(20,906,114)
188,898,518

714,565,502
(54,852,762)
659,712,740
1,544,994,807

287,772,592
(55,190,037)
232,582,555
510,368,629

91,946,742
(34,474,157)
57,472,585
131,425,933

0.97

0.40

0.11

2011
3.96%
1,544,994,807
38,987,883,405
5.68%
2,215,864,708
38,987,883,405
14.20%
5,534,753,397
38,987,883,405
9.26%
1,544,994,807
16,679,676,291
27.20%

2010
1.75%
510,368,629
29,108,004,456
3.39%
985,334,997
29,108,004,456
12.13%
3,530,996,458
29,108,004,456
5.04%
510,368,629
10,123,718,135
30.81%

1,544,994,807
5,679,730,703

510,368,629
1,656,711,218

PROFITABILITY RATIOS- Measures how well the company utilizes


its resources to generate profit and increase shareholder value.
2012
2011
2010
GROSS PROFIT MARGIN
OPERATING PROFIT MARGIN
NET PROFIT MARGIN
RETURN ON ASSETS

16.08%
6.69%
4.73%
5.98%

14.20%
5.68%
3.96%
9.26%

12.13%
3.39%
1.75%
5.04%

RETURN ON EQUITY

14.76%

27.20%

30.81%

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES


CONSOLIDATED STATEMENT OF INCOME

Year End
In PHP
NET SALES
COST OF SALES
GROSS PROFIT
OTHER OPERATING INCOME
OPERATING EXPENSES
INCOME FROM OPERATIONS
OTHER INCOME (EXPENSES)
Interest expense
Interest Income
Others-net
INCOME BEFORE INCOME TAX
INCOME TAX EXPENSE
Current
Deferred
NET INCOME

2012
PERCENT
57,466,507,410
100.00%
48,227,697,388
83.92%
9,238,810,022
16.08%
1,667,029,827
2.90%
7,060,116,430
12.29%
3,845,723,419
6.69%
(74,044,583)
88,964,732
10,919,403
3,871,562,971

-0.13%
0.15%
0.02%
6.74%

1,292,735,908
(138,711,634)
1,154,024,274
2,717,538,697

2.25%
-0.24%
2.01%
4.73%

EARNINGS PER SHARE


Basic and Diluted earnings per share
1.11
* This does not include information for Subsidiaries acquired in May 2012

Year Ended December 31


2011*
PERCENT
38,987,883,405
100.00%
33,453,130,008
85.80%
5,534,753,397
14.20%
1,051,883,532
2.70%
4,370,772,221
11.21%
2,215,864,708
5.68%

2010*
PERCENT
29,108,004,456
100.00%
25,577,007,998
87.87%
3,530,996,458
12.13%
780,668,193
2.68%
3,326,329,654
11.43%
985,334,997
3.39%

2009*
24,112,391,358
21,893,011,892
2,219,379,466
785,285,921
2,546,479,692
458,185,695

(65,028,007)
25,143,153
28,727,693
2,204,707,547

-0.17%
0.06%
0.07%
5.65%

(220,264,174)
2,136,283
(24,255,922)
742,951,184

-0.76%
0.01%
-0.08%
2.55%

(290,193,291)
(20,906,114)
188,898,518

714,565,502
(54,852,762)
659,712,740
1,544,994,807

1.83%
-0.14%
1.69%
3.96%

287,772,592
(55,190,037)
232,582,555
510,368,629

0.99%
-0.19%
0.80%
1.75%

91,946,742
(34,474,157)
57,472,585
131,425,933

0.97

0.40

0.11

PERCENT
100.00%
90.80%
9.20%
3.26%
10.56%
1.90%
-1.20%
0.00%
-0.09%
0.78%

0.38%
-0.14%
0.24%
0.55%

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES


CONSOLIDATED STATEMENT OF INCOME

In PHP
NET SALES
COST OF SALES
GROSS PROFIT
OTHER OPERATING INCOME
OPERATING EXPENSES
INCOME FROM OPERATIONS
OTHER INCOME (EXPENSES)
Interest expense
Interest Income
Others-net
INCOME BEFORE INCOME TAX
INCOME TAX EXPENSE
Current
Deferred
NET INCOME

2012
57,466,507,410
48,227,697,388
9,238,810,022
1,667,029,827
7,060,116,430
3,845,723,419

Year Ended Decembe


2011*
38,987,883,405
33,453,130,008
5,534,753,397
1,051,883,532
4,370,772,221
2,215,864,708

(74,044,583)
88,964,732
10,919,403
3,871,562,971

(65,028,007)
25,143,153
28,727,693
2,204,707,547

1,292,735,908
(138,711,634)
1,154,024,274
2,717,538,697

714,565,502
(54,852,762)
659,712,740
1,544,994,807

EARNINGS PER SHARE


Basic and Diluted earnings per share
1.11
* This does not include information for Subsidiaries acquired in May 2012

0.97

Year Ended December 31


AMOUNT
PERCENT
18,478,624,005
47.40%
14,774,567,380
44.16%
3,704,056,625
66.92%
615,146,295
58.48%
2,689,344,209
61.53%
1,629,858,711
73.55%

2010*
29,108,004,456
25,577,007,998
3,530,996,458
780,668,193
3,326,329,654
985,334,997

AMOUNT
9,879,878,949
7,876,122,010
2,003,756,939
271,215,339
1,044,442,567
1,230,529,711

PERCENT
33.94%
30.79%
56.75%
34.74%
31.40%
124.88%

(9,016,576)
63,821,579
(17,808,290)
1,666,855,424

13.87%
253.83%
-61.99%
75.60%

(220,264,174)
2,136,283
(24,255,922)
742,951,184

155,236,167
23,006,870
52,983,615
1,461,756,363

-70.48%
1076.96%
-218.44%
196.75%

578,170,406
(83,858,872)
494,311,534
1,172,543,890

80.91%
152.88%
74.93%
75.89%

287,772,592
(55,190,037)
232,582,555
510,368,629

426,792,910
337,275
427,130,185
1,034,626,178

148.31%
-0.61%
183.65%
202.72%

0.14

14.43%

0.40

0.57

142.50%

2009*
24,112,391,358
21,893,011,892
2,219,379,466
785,285,921
2,546,479,692
458,185,695

AMOUNT
PERCENT
4,995,613,098
20.72%
3,683,996,106
16.83%
1,311,616,992
59.10%
(4,617,728)
-0.59%
779,849,962
30.62%
527,149,302
115.05%

(290,193,291)
(20,906,114)
188,898,518

69,929,117
2,136,283
(3,349,808)
554,052,666

-24.10%
100.00%
16.02%
293.31%

91,946,742
(34,474,157)
57,472,585
131,425,933

195,825,850
(20,715,880)
175,109,970
378,942,696

212.98%
60.09%
304.68%
288.33%

0.11

0.29

263.64%

PUREGOLD PRICE CLUB INC AND SUBSIDIARIES


CONSOLIDATED STATEMENTS OF CASH FLOW
In PHP

CASH FLOW FROM OPERATING ACTIVITIES


Income before Income tax
Adjustment for:
Depreciation and amortization
Interest expense
Rent
Retirement benefits cost
Loss (gain) on pretermination of lease contract
Impairment losses on receivables
Unrealized valuation gain in trading securities
Unrealized foreign exchange loss
Loss (gain) on disposal of property and equipment
Dividend income
Interest income
Gain on insurance claim
Goodwill written of
Operating income beforechanges in working capital
Decrease (increase) in:
Invetsment in Trading Securities
Receivables
Merchandise Inventory
Prepaid expenses and other current assets
Increase (decrease) in:
Accounts payable and accrued expenses
Trust receipts payable
Other current liabilities
Due to related party
Cash generated from operations
Interest received
Interest paid
Income taxes paid
Net cash flow provided by operating activities

CASH FLOW FROM INVESTING ACTIVITIES


Additions to property and equipment
Increase in intangibles
Decrease (increase) in other non current assets
Due from related parties
Dividends received
Proceeds from insurance claim
Proceeds from disposal of property and equipment
Net cash provided by (used in) investing activities

CASH FLOW FROM FINANCING ACTIVITIES


Availment of notes payable
Availmeny (payments) of loans payable
Proceeds from issuance and subscription of capital stock
Cash dividends paid
Increase (decrease) in due to related parties
Net cash provided by (used in) financing activities

EFFECTS OF EXCHANGE RATE CHANGES ON CASH


NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
CASH AND CASH EQUIVALENTS AT END OF YEAR
* This does not include information for Subsidiaries acquired in May 2012

OPERATING CASH FLOW/SALES RATIO


Operating Cash Flow
Net Sales
OPERATING CASH FLOW/SALES RATIO

2012

Year Ended December 31


2011*
2010*

3,871,562,971

2,204,707,547

742,951,184

675,492,982
74,044,583
457,955,717
55,213,083
1,940,552
(9,778,303)
1,523
(374,998)
565,125
88,964,732
(202,500)
5,036,325,753

456,974,253
65,028,007
155,340,714
37,125,458
9,000,000
1,407,884
(195,314)
(369,118)
(866,750)
(25,143,153)
(27,296,511)
###
2,875,713,017

278,952,394
22
220,264,174
189,643,254
2,204,133
(11,273,300)
2,619,632
(565,429)
(2,136,283)
33,475,019
1,478,033,637

(1,168,004)
(548,449,429)
(2,088,612,277)
(151,920,129)

(12,500)
200,306,859
1,588,677,384
(153,572,870)

(261,600)
285,327,031
(1,029,980,174)
(237,795,188)

2,837,272,339
(13,169,638)
76,037,019
12,080,490
5,158,396,124
88,964,732
(74,044,583)
(1,040,151,267)
4,133,165,006

1,218,023,376
(9,632,691)
(118,715,047)
8,855,584
2,031,674,626
25,143,153
(68,271,987)
(630,670,950)
1,357,874,842

1,225,026,249
30,932,358
(258,311,018)
1,492,971,295
2,136,283
(230,173,533)
(162,555,958)
1,102,378,087

(4,232,381,738)
(70,000)
1,947,794,004
(7,014,202)
565,125
202,500
9,577,598
###

(2,324,912,307)
(2,617,103,196)
866,750
57,418,680
16,587,270
###

(2,265,607,339)
(129,689,874)
6,004,172,786
565,429
7,168,026
3,616,609,028

4,952,211,362
508,500,000
(400,000,000)
216,609,334
5,277,320,696
(1,523)
7,129,157,466
1,955,167,541
9,084,325,007

(2,092,330,000)
5,718,821,728
3,626,491,728
117,223,767
1,837,943,774
1,955,167,541

4,021,880,500
388,150,680
(383,450,036)
###
701,807,259
1,136,136,515
1,837,943,774

2012

2011

2010

7.19%

3.48%

3.79%

1,357,874,842
38,987,883,405

1,102,378,087
29,108,004,456

#DIV/0!

#DIV/0!

4,133,165,006
57,466,507,410
#DIV/0!

LIQUIDITY RATIOS- Measures the ability of the company to repay short term liabilities
when they come due.
2012
2011
2010
OPERATING CASH FLOW/SALES RATIO
OPERATING CASH FLOW/SALES RATIO
0

0.07
#DIV/0!
0.00

0.03
#DIV/0!
0.00

0.04
#DIV/0!
0.00

STORES
Hypermarkets
Supermarkets
Discounters
S&R
Parco Supermarket
TOTAL

Number
78
38
15
6
19
156

Contribution to Net Sales (per brand)


Puregold
S&R
Parco

86.10%
10.80%
3.10%
100.00%

Contribution to Net Sales (

11% 3%

86%

Source:PGOLD Ann

o Net Sales (Per Brand)

Puregol
d
S&R
Parco

Source:PGOLD Annual Report 2012