EMPERADOR INC.

AND SUBSIDIARIES
STATEMENT OF FINANCIAL POSITION
Decemebr 31, 2018 and 2017

VERTICAL ANALYSIS
ASSETS 2018 Percent 2017 Percent 2016 Percent
Current Assets
Cash and cash equivalents ₱ 6,228,229,892.00 5.29% ₱ 10,162,413,848.00 9.11% ₱ 10,173,907,748.00 10.79%
Trade and other receivables - net ₱ 18,875,783,362.00 16.02% ₱ 14,694,733,441.00 13.17% ₱ 10,779,489,916.00 11.43%
Financial assets at fair value through profit or
₱ 1,208,707,500.00 1.03% ₱ 19,572,259.00 - -
loss 0.02%
Inventories - net ₱ 28,395,973,338.00 24.10% ₱ 25,186,966,124.00 22.58% ₱ 20,754,501,639.00 22.01%
Prepayments and other current assets ₱ 1,291,326,181.00 1.10% ₱ 953,350,245.00 0.85% ₱ 582,070,440.00 0.62%
Total Current Assets ₱ 56,000,020,273.00 47.53% ₱ 51,017,035,917.00 45.74% ₱ 42,289,969,743.00 44.85%

Non-current Assets
Investment in a joint venture ₱ 3,277,607,392.00 2.78% ₱ 3,233,944,765.00 2.90% ₱ 3,999,150,056.00 4.24%
Property, plant and equipment - net ₱ 27,247,873,634.00 23.13% ₱ 26,340,856,254.00 23.62% ₱ 20,949,282,168.00 22.22%
Intangible assets - net ₱ 30,229,975,679.00 25.66% ₱ 29,893,991,852.00 26.80% ₱ 25,791,110,856.00 27.35%
Other non-current assets - net ₱ 1,062,894,704.00 0.90% ₱ 1,049,953,201.00 0.94% ₱ 1,272,887,433.00 1.35%
Total Non-current Assets ₱ 61,818,351,409.00 52.47% ₱ 60,518,746,072.00 54.26% ₱ 52,012,430,513.00 55.15%
TOTAL ASSETS ₱ 117,818,371,682.00 100.00% ₱ 111,535,781,989.00 100.00% ₱ 94,302,400,256.00 100.00%

LIABILITIES AND EQUITY

Current Liabilities
Interest-bearing loans ₱ 5,700,075,335.00 4.84%
Trade and other payables ₱ 13,235,235,723.00 11.23%
Financial Liability at fair value through profit or
₱ 43,492,447.00 0.04%
loss
Income tax payable ₱ 1,238,585,785.00 6.13%
Total Current Liabilities ₱ 20,217,389,290.00 17.16%
₱ 4,161,326,840.00 3.73% ₱ 2,674,767,650.00 2.84%
₱ 12,076,373,731.00 10.83% ₱ 8,562,724,993.00 9.08%
- - ₱ 28,879,840.00 0.03%
₱ 599,675,788.00 0.54% ₱ 646,744,244.00 0.69%
₱ 16,837,376,359.00 15.10% ₱ 11,913,116,727.00 12.63%

Non-current Liabilities
Interest-bearing loans ₱ 28,314,724,893.00 24.03%
Equity-linked debt securities ₱ 5,258,801,592.00 4.46%
- -
Provisions ₱ 524,974,547.00 0.45%
Deferred tax liability - net ₱ 2,027,842,787.00 1.72%
Retirement benefit obligation ₱ 110,692,233.00 0.09%
Total Non-current Liabilities ₱ 36,237,036,052.00 30.76%
Total Liabilities ₱ 56,454,425,342.00 47.92%
Equity
Equity attributable to owners of the parent
₱ 60,471,271,854.00 51.33%
company
Non-controlling interest ₱ 892,674,486.00 0.76%
Total Equity ₱ 61,363,946,340.00 52.08%
TOTAL LIABILITIES AND EQUITY ₱ 117,818,371,682.00 100.00%
₱ 28,761,094,050.00 25.79% ₱ 21,425,000,000.00 22.72%
₱ 5,227,114,518.00 4.69% ₱ 5,262,906,379.00 5.58%
- - ₱ 562,730,466.00 1.34%
₱ 443,245,445.00 0.40% ₱ 480,517,679.00 0.51%
₱ 1,797,284,641.00 1.61% ₱ 1,432,691,492.00 1.52%
₱ 116,113,331.00 0.10% ₱ 1,000,949,796.00 1.06%
₱ 36,344,851,985.00 32.59% ₱ 30,164,795,812.00 31.99%
₱ 53,182,228,344.00 47.68% ₱ 42,077,912,539.00 44.62%
₱ 57,718,896,695.00 ₱ 52,218,737,717.00 55.37%
51.75%
₱ 634,656,950.00 0.57% ₱ 5,750,000.00 0.01%
₱ 58,353,553,645.00 52.32% ₱ 52,224,487,717.00 55.38%
₱ 111,535,781,989.00 100.00% ₱ 94,302,400,256.00 100.00%
 EMPERADOR INC. AND SUBSIDIARIES
STATEMENT OF COMPREHENSIVE INCOME
For the years ended December 31, 2018, 2017 and 2016

VERTICAL ANALYSIS
2018 Percent 2017 Percent 2016 Percent
Revenues ₱ 47,050,421,022.00 100.00% ₱ 42,655,527,544.00 100.00% ₱ 41,018,101,190.00 100.00%
Cost of goods sold ₱ 30,305,123,521.00 64.41% ₱ 27,264,689,817.00 63.92% ₱ 25,141,038,906.00 61.29%
Selling and distribution expenses ₱ 5,567,696,147.00 11.83% ₱ 4,611,427,335.00 10.81% ₱ 4,082,481,208.00 9.95%
General and administrative expenses ₱ 1,909,932,481.00 4.06% ₱ 1,519,281,194.00 3.56% ₱ 1,564,843,400.00 3.82%
Finance and other charges ₱ 831,304,464.00 1.77% ₱ 1,424,757,176.00 3.34% ₱ 794,039,127.00 1.94%
₱ 38,614,056,613.00 82.07% ₱ 34,820,155,522.00 81.63% ₱ 31,582,402,641.00 77.00%
Profit Before Tax ₱ 8,436,364,409.00 17.93% ₱ 7,835,372,022.00 18.37% ₱ 9,435,698,549.00 23.00%
Tax Expense ₱ 1,607,414,678.00 3.42% ₱ 1,503,052,461.00 3.52% ₱ 1,742,331,316.00 4.25%
Net Profit ₱ 6,828,949,731.00 14.51% ₱ 6,332,319,561.00 14.85% ₱ 7,693,367,233.00 18.76%

Other comprehensive income (loss)

Items that will be reclassified subsequently
to profit or loss
Translation gain (loss) ₱ 220,002,448.00 0.47% ₱ 659,294,821.00 1.55% ₱ (2,189,511,224.00) (5.34%)

Items that will not be reclassified

subsequently to profit or loss
Net actuarial gain (loss) on retirement
₱ (189,210,076.00) (0.40%) ₱ 746,770,271.00 1.75% ₱ (805,125,882.00) (1.96%)
benefit obligation
Tax income (expense) on remeasurement
₱ 32,275,467.00 0.07% ₱ (122,180,800.00) (0.29%) ₱ 136,909,345.00 0.33%
of retirement benefit obligation
₱ (156,934,609.00) (0.33%) ₱ 624,589,471.00 1.46% ₱ (668,216,537.00) (1.63%)
Other Comprehensive Income (Loss) - Net
₱ 63,067,839.00 0.13% ₱ 1,283,884,292.00 3.01% ₱ (2,857,727,761.00) (6.97%)
of Tax
TOTAL COMPREHENSIVE INCOME ₱ 6,892,017,570.00 14.65% ₱ 7,616,203,853.00 17.86% ₱ 4,835,639,472.00 11.79%