PHILIPPINE SEVEN

Consolidated
As o

ASSETS
Current Assets
Cash and cash equivalents (Notes 4, 28 and 29)
Short-term investment (Notes 4, 28 and 29)
Receivables (Notes 5, 25, 28 and 29)
Inventories (Notes 6 and 18)
Prepayments and other current assets (Notes 7, 28 and 29)
Total Current Assets
Noncurrent Assets
Property and equipment (Note 8)
Right-of-use assets (Note 25)
Deposits (Notes 9, 28 and 29)
Goodwill and other noncurrent assets (Notes 10 and 29)
Receivables - net of current portion (Notes 5, 10, 28 and 29)
Deferred tax assets - net (Note 26)
Total Noncurrent Assets
TOTAL ASSETS

LIABILITIES AND EQUITY

Current Liabilities
Bank loans (Notes 11, 28 and 29)
Current portion of long-term debt (Notes 11, 28 and 29)
Accounts payable and accrued expenses (Notes 12, 28 and 29)
Lease liabilities - current (Note 25)
Current portion of contract liabilities (Note 13)
Income tax payable
Other current liabilities (Notes 14, 24 and 29)
Total Current Liabilities
Noncurrent Liabilities
Long-term debt - net of current portion (Notes 11, 28 and 29)
Lease liabilities - net of current portion (Note 25)
Deposits payable (Note 15)
Contract liabilities - net of current portion (Note 13)
Net retirement obligations (Note 23)
Cumulative redeemable preferred shares (Notes 16, 28 and 29)
Deferred Revenue
Total Noncurrent Liabilities
Total Liabilities
Equity
Common stock (Note 17)
Additional paid-in capital
Retained earnings (Note 17)
Appropriated
Unappropriated
Other comprehensive loss
Remeasurement loss on net retirement obligations - net of tax (Note 23)

Cost of own shares held in treasury (Note 17)

Total Equity
TOTAL LIABILITIES AND EQUITY
PHILIPPINE SEVEN CORPORATION AND SUBSIDIARIES
Consolidated Statements of Financial Position
As of December 31, 2021

December 31
2021 2020 2019

₱ 5,376,107,427.00 ₱ 5,137,144,792.00 ₱ 4,624,655,095.00

11,535,504.00 11,493,502.00 11,389,621.00
2,530,951,369.00 3,674,543,057.00 3,430,979,113.00
4,328,438,056.00 4,243,099,966.00 4,164,073,340.00
1,975,685,212.00 830,512,756.00 472,351,337.00
14,222,717,568.00 13,896,794,073.00 12,703,448,506.00

5,274,409,357.00 6,336,643,785.00 7,023,486,002.00

6,176,929,871.00 6,975,912,246.00 7,549,790,375.00
1,051,630,239.00 1,055,456,946.00 670,343,702.00
397,716,013.00 462,636,786.00 207,766,169.00
311,198,635.00 58,024,244.00 1,002,878,994.00
983,862,984.00 963,539,389.00 515,950,406.00
14,195,747,099.00 15,852,213,396.00 16,970,215,648.00
₱ 28,418,464,667.00 ₱ 29,749,007,469.00 ₱ 29,673,664,154.00

₱ 100,000,000.00 ₱ 830,000,000.00 ₱ 65,000,000.00

666,690,058.00 241,690,058.00 160,440,058.00
6,627,172,856.00 5,954,411,302.00 6,785,772,198.00
1,953,775,783.00 2,125,633,197.00 2,006,019,727.00
777,961,799.00 510,441,833.00 418,715,881.00
123,400.00 266,514.00 218,851,309.00
2,842,458,614.00 4,201,875,385.00 4,051,960,551.00
12,968,182,510.00 13,864,318,289.00 13,706,759,724.00
 925,035,088.00 1,091,725,146.00 333,415,205.00
6,657,293,108.00 6,487,085,252.00 6,753,525,570.00
363,885,563.00 361,995,615.00 313,328,714.00
125,857,840.00 141,915,647.00 191,702,318.00
400,794,633.00 442,099,746.00 331,343,566.00
6,000,000.00 6,000,000.00 6,000,000.00
- - -
8,478,866,232.00 8,530,821,406.00 7,929,315,373.00
₱ 21,447,048,742.00 ₱ 22,395,139,695.00 ₱ 21,636,075,097.00

₱ 757,104,533.00 ₱ 757,104,533.00 ₱ 757,104,533.00

293,525,037.00 293,525,037.00 293,525,037.00

5,100,000,000.00 6,100,000,000.00 6,100,000,000.00

870,686,102.00 331,691,101.00 978,334,123.00

- 46,976,501.00 - 125,529,651.00 - 88,451,390.00

6,974,339,171.00 7,356,791,020.00 8,040,512,303.00
- 2,923,246.00 - 2,923,246.00 - 2,923,246.00
6,971,415,925.00 7,353,867,774.00 8,037,589,057.00
₱ 28,418,464,667.00 ₱ 29,749,007,469.00 ₱ 29,673,664,154.00
31
2018 (AS Restated) 2017

₱ 3,181,666,656.00 ₱ 1,968,958,985.00
11,286,679.00 11,184,667.00
1,637,846,048.00 1,178,381,987.00
3,543,379,449.00 2,747,912,176.00
614,451,167.00 542,002,461.00
8,988,629,999.00 6,448,440,276.00

6,750,513,961.00 6,462,474,320.00
-
467,175,630.00 833,756,292.00
4,088,979.00 459,400,138.00
937,695,640.00 -
254,543,465.00 155,785,924.00
8,414,017,675.00 7,911,416,674.00
₱ 17,402,647,674.00 ₱ 14,359,856,950.00

₱ 410,000,000.00 ₱ 660,000,000.00
371,666,667.00 325,000,000.00
5,507,381,058.00 4,181,184,416.00
- -
303,602,274.00 -
327,448,200.00 312,063,409.00
2,332,573,535.00 1,632,233,892.00
9,252,671,734.00 7,110,481,717.00
 468,750,000.00 745,833,333.00
- -
289,056,678.00 261,749,827.00
193,545,484.00 -
117,758,455.00 157,569,500.00
6,000,000.00 6,000,000.00
- 50,723,103.00
1,075,110,617.00 1,221,875,763.00
₱ 10,327,782,351.00 ₱ 8,332,357,480.00

₱ 757,104,533.00 ₱ 757,104,533.00
293,525,037.00 293,525,037.00

5,100,000,000.00 4,350,000,000.00
911,969,780.00 666,193,426.00

15,189,219.00 - 36,400,280.00
7,077,788,569.00 6,030,422,716.00
- 2,923,246.00 - 2,923,246.00
7,074,865,323.00 6,027,499,470.00
₱ 17,402,647,674.00 ₱ 14,359,856,950.00
 PHILIPPINE SEVEN
Consolidated Sta
For the Yea

INCOME
Revenue from contracts with customers (Note 13)
Revenue from merchandise sales
Franchise revenue (Note 32)
Marketing income (Note 20)
Commission income (Note 32)
Interest income (Note 21)
Rental income (Note 25)
Other income

EXPENSES
Cost of merchandise sales (Note 18)
General and administrative expenses (Note 19)
Interest expense (Note 20)
Other expenses

INCOME (LOSS) BEFORE INCOME TAX

PROVISION FOR (BENEFIT FROM) INCOME TAX (Note 26)

NET INCOME (LOSS)

OTHER COMPREHENSIVE INCOME (LOSS) NOT

TO BE RECLASSIFIED TO PROFIT AND LOSS
IN SUBSEQUENT PERIODS
Remeasurement gain (loss) on net retirement obligations (Note 23)
Income tax effect

OTHER COMPREHENSIVE INCOME (LOSS) – NET OF TAX

TOTAL COMPREHENSIVE INCOME (LOSS)

BASIC/DILUTED EARNINGS (LOSS) PER SHARE (Note 27)

PHILIPPINE SEVEN CORPORATION AND SUBSIDIARIES
Consolidated Statements of Comprehensive Income
For the Year Ended December 31, 2021

Years Ended December 31

2021 2020 2019

₱ 45,144,606,258.00 ₱ 43,645,923,273.00 ₱ 52,950,902,607.00

- - -
- - -
- - -
- - -
78,021,276.00 131,429,682.00 105,613,939.00
63,037,775.00 148,687,434.00 137,107,640.00
141,107,652.00 181,244,036.00 62,037,334.00
45,426,772,961.00 44,107,284,425.00 53,255,661,520.00

29,656,633,373.00 28,783,351,394.00 34,368,460,873.00

15,087,045,275.00 14,674,175,998.00 15,794,863,340.00
959,910,008.00 1,141,659,114.00 965,534,117.00
156,919,716.00 73,324,948.00 45,862,835.00
45,860,508,372.00 44,672,511,454.00 51,174,721,165.00

- 433,735,411.00 - 565,227,029.00 2,080,940,355.00

27,269,588.00 - 145,509,492.00 636,366,870.00

- 461,004,999.00 - 419,717,537.00 1,444,573,485.00

116,692,739.00 - 52,968,944.00 - 148,058,013.00

- 38,139,589.00 15,890,683.00 44,417,404.00

78,553,150.00 - 37,078,261.00 - 103,640,609.00

-₱ 382,451,849.00 -₱ 456,795,798.00 ₱ 1,340,932,876.00

-₱ 0.61 -₱ 0.55 ₱ 1.91

ember 31
2018 2017

₱ 43,770,478,130.00 ₱ -
- 32,088,441,776
- 3,176,699,102
- 1,252,614,078
- 126,707,492
62,704,247.00 76,666,882.00
17,103,612.00 16,403,134.00
49,843,414.00 270,130,224.00
43,900,129,403.00 37,007,662,688.00

27,911,183,499.00 23,776,474,291.00
13,652,608,770.00 11,226,202,984.00
76,542,124.00 56,559,765.00
46,486,514.00 32,596,899.00
41,686,820,907.00 35,091,833,939.00

2,213,308,496.00 1,915,828,749.00

681,552,230.00 597,958,290.00

1,531,756,266.00 1,317,870,459.00

73,699,282.00 - 22,143,945.00
- 22,109,783.00 6,643,183.00

51,589,499.00 15,500,762.00

₱ 1,583,345,765.00 ₱ 1,302,369,697.00

₱ 2.03 ₱ 1.74
 PHILIPPINE SEVEN
Consolidate
For the Yea

CASH FLOWS FROM OPERATING ACTIVITIES

Income/(loss) before income tax
Adjustments for:
Depreciation and amortization (Notes 8, 19, and 25)
Interest expense (Note 20)
Ammortization of:
Deferred lease (Notes 7 and 26)
Net retirement benefits cost (Notes 22 and 23)
Interest income (Note 21)
Rent concession (Note 25)
Amortization of software and other program costs (Notes 10 and 19)
Write-off of property and equipment (Note 8)
Unrealized foreign exchange loss (gain)
Operating income before working capital changes
Decrease (increase) in:
Receivables
Inventories
Prepayments and other current assets
Increase (decrease) in:
Accounts payable and accrued expenses
Other current liabilities
Contract liabilities
Deposits payable
Deferred Revenue
Retirement benefits paid (Note 23)
Retirement benefits contributions (Note 23)
Net cash generated from operations
Income taxes paid
Interest received
Net cash provided by operating activities

CASH FLOWS FROM INVESTING ACTIVITIES

Additions to:
Property and equipment (Note 8)
Software and other program costs (Note 10)
Decrease (increase) in:
Deposits
Goodwill and other noncurrent assets
Short-term investments
Short-term investments
Net cash used in investing activities

CASH FLOWS FROM FINANCING ACTIVITIES

Availments of:
Bank loans (Note 11)
Long-term debt (Note 11)
Payments of:
Bank loans (Note 11)
Long-term debt (Note 11)
Leases (Note 25)
Cash dividends paid (Note 17)
Interest paid
Net cash used in financing activities

NET INCREASE IN CASH AND CASH EQUIVALENTS

EFFECT OF EXCHANGE RATE CHANGES ON CASH

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR

CASH AND CASH EQUIVALENTS AT END OF YEAR (Note 4)

PHILIPPINE SEVEN CORPORATION AND SUBSIDIARIES
Consolidated Statements of Cash Flows
For the Year Ended December 31, 2021

Years Ended December 31

2021 2020 2019

-₱ 433,735,411.00 -₱ 565,227,029.00 ₱ 2,080,940,355.00

4,081,894,536.00 4,281,848,217.00 3,833,029,584.00

959,910,008.00 1,141,659,114.00 965,534,117.00

- - -
96,387,626.00 77,787,236.00 90,158,015.00
- 78,021,276.00 - 131,429,682.00 - 105,613,939.00
- 37,200,446.00 - 147,747,363.00 -
3,003,961 2,858,880 9,238,968
215,834.00 - 4,472,711.00
21,453.00 185,067.00 170,037.00
4,592,476,285.00 4,659,934,440.00 6,877,929,848.00

1,486,795,198.00 - 393,464,472.00 - 395,551,729.00

- 85,338,090.00 - 79,026,626.00 - 620,693,891.00
- 1,145,172,456.00 - 417,427,204.00 100,210,016.00

679,401,122.00 - 823,665,582.00 1,351,910,041.00

- 1,359,416,771.00 149,914,834.00 1,719,387,016.00
237,471,364.00 23,097,525.00 94,878,199.00
- 12,458,749.00 8,297,175.00 24,272,036.00
- - -
- - - 1,630,917.00
- 21,000,000.00 - 20,000,000.00 - 23,000,000.00
4,372,757,903.00 3,107,660,090.00 9,127,710,619.00
- 85,875,886.00 - 504,773,603.00 - 961,953,298.00
12,016,255.00 54,115,792.00 24,514,484.00
₱ 4,298,898,272.00 ₱ 2,657,002,279.00 ₱ 8,190,271,805.00

-₱ 1,186,272,863.00 -₱ 1,762,908,634.00 -₱ 3,118,424,273.00

- 8,244,220.00 - 3,727,643.00 - 13,963,034.00
 6,896,534.00 - 81,049,716.00 - 52,919,734.00
- 183,013,359.00 358,317,604.00 - 420,803,935.00
- 42,002.00 - 103,881.00 - 102,942.00
- - 62,292.00
-₱ 1,370,675,910.00 -₱ 1,489,472,270.00 -₱ 3,606,151,626.00

₱ 3,600,000,000.00 ₱ 5,437,000,000.00 ₱ 230,000,000.00

500,000,000.00 1,000,000,000.00 200,000,000.00

- 4,330,000,000.00 - 4,672,000,000.00 - 575,000,000.00

- 241,690,058.00 - 160,440,059.00 - 546,561,404.00
- 2,072,453,751.00 - 1,909,286,903.00 - 2,005,362,761.00
- - 226,925,485.00 - 378,209,142.00
- 145,094,465.00 - 123,202,798.00 - 65,828,396.00
-₱ 2,689,238,274.00 -₱ 654,855,245.00 -₱ 3,140,961,703.00

₱ 238,984,088.00 ₱ 512,674,764.00 ₱ 1,443,158,476.00

- 21,453.00 - 185,067.00 - 170,037.00

5,137,144,792.00 4,624,655,095.00 3,181,666,656.00

₱ 5,376,107,427.00 ₱ 5,137,144,792.00 ₱ 4,624,655,095.00

ember 31
2018 2017

₱ 2,213,308,496.00 ₱ 1,915,828,749.00

1,946,617,252.00 1,622,990,458.00
76,542,124.00 56,559,765.00

8,706,319.00 9,551,304.00
44,888,237.00 32,386,593.00
- 17,103,612.00 - 16,403,134.00
- -
946,389 1,237,857
- -
- 195,410.00 - 12,016.00
4,273,709,795.00 3,622,383,175.00

- 470,881,692.00 - 26,566,019.00
- 795,467,273.00 - 616,470,888.00
- 72,448,706.00 - 15,133,414.00

1,324,974,586.00 712,937,917.00
809,314,545.00 283,307,432.00
32,071,821.00 -
27,306,851.00 22,309,870.00
- 43,413,670.00
- -
- 11,000,000.00 - 14,000,000.00
5,117,579,927.00 4,012,181,743.00
- 696,726,174.00 - 561,757,577.00
8,370,792.00 7,323,471.00
₱ 4,429,224,545.00 ₱ 3,457,747,637.00

-₱ 2,234,656,893.00 -₱ 2,400,793,097.00
- - 263,147.00
- 95,206,528.00 - 135,656,843.00
- 21,517,179.00 - 6,459,686.00
- 102,012.00 - 101,090.00
- 300,000.00
-₱ 2,351,482,612.00 -₱ 2,542,973,863.00

₱ 720,000,000.00 ₱ 425,000,000.00
75,000,000.00 600,000,000.00

- 970,000,000.00 - 985,000,000.00
- 305,416,666.00 - 183,666,667.00
- -
- 325,259,861.00 - 297,982,960.00
- 59,553,145.00 - 55,149,851.00
-₱ 865,229,672.00 -₱ 496,799,478.00

₱ 1,212,512,261.00 ₱ 417,974,296.00

195,410.00 12,016.00

1,968,958,985.00 1,550,972,673.00

₱ 3,181,666,656.00 ₱ 1,968,958,985.00
Formula:

PercentagMost Recent Value - Base Period Value

Base Period Value
Formula:

(Latest year / Base Year) *100

Note: Base year as state as 100%

LIQUIDITY RATIOS

CURRENT RATIO

2021 Current Assets

Current Liabilities

2020 Current Assets

Current Liabilities

QUICK OR ACID TEST RATIO

2021 Quick Assets ( Cash + Marketable Securities + AR,Net)

Current Liabilities

2020 Quick Assets ( Cash + Marketable Securities + AR,Net)

Current Liabilities

NET WORKING CAPITAL

2021 Current Assets - Current Liabilities

2020 Current Assets - Current Liabilities

CASH FLOW LIQUIDITY RATIOS

2021 Cash + Marketable Securities + Cash flows from Operating Activities

Current Liabilities

2020 Cash + Marketable Securities + Cash flows from Operating Activities

Current Liabilities

ACTIVITY RATIOS

ACCOUNTS RECEIVABLE TURNOVER

2021 Net Credit Sales/ Net Sales

Average Accounts Receivable Turnover, Net

2020 Net Credit Sales/ Net Sales

Average Accounts Receivable Turnover, Net
AVERAGE COLLECTION PERIOD

2021 365 OR 360 DAYS

Accounts Receivable Turnover

2020 365 OR 360 DAYS

Accounts Receivable Turnover

INVENTORY TURNOVER

2021 Cost of Goods Sold

Average Inventory Balance

2020 Cost of Goods Sold

Average Inventory Balance

PAYABLE TURNOVER

2021 Net Credit Purchases/ Net Purchases

Average Accounts Payable

2020 Net Credit Purchases/ Net Purchases

Average Accounts Payable

LEVERAGE RATIOS

DEBT RATIOS (%)

2021 Total Liabilities

Total Assets

2020 Total Liabilities

Total Assets
EQUITY RATIOS(%)

2021 Total Equity

Total Assets
 2020 Total Equity
Total Assets
DEBT TO EQUITY RATIOS (%)

2021 Total Liabilities

Total Shareholder's Equity

2020 Total Liabilities

Total Shareholder's Equity

TIMES INTEREST EARNED RATIO

2021 Operating Profit or Income Before Interest and Taxes

Interest Expense

2020 Operating Profit or Income Before Interest and Taxes

Interest Expense

PROFITABILITY RATIOS

GROSS PROFIT MARGIN (%)

2021 Gross Profit

Net Sales

2020 Gross Profit

Net Sales

OPERATING PROFIT MARGIN (%)

2021 Operating Profit

Net Sales

2020 Operating Profit

Net Sales

NET PROFIT MARGIN (%)

2021 Net Profit

Net Sales
 2020 Net Profit
Net Sales

RATE OF RETURN ON ASSETS

2021 Net Profit

Average Total Assets

2020 Net Profit

Average Total Assets