Horizintal and Vertical Analysis of Jollibee Foods Corp

Jollibee Foods Corporation Consolidated Statement of Financial Position 31-Dec-10 ASSETS Current Assets Cash and cash equivalents Receivables Inventories Other current assets Total Current Assets Noncurrent assets Available-for-sale financial assets Interest in and advances to a joint venture Property, plant and equipment Investment properties Goodwill Operating lease receivables Other noncurrent assets Total Noncurrent Assets Total Assets LIABILITIES AND EQUITIES LIABILITIES Current Liabilities Trade payables and other current liabilities Income tax payable Short-term debt Current portion of: Long-term debt Liability for acquisition of businesses Total Current Liabilities Noncurrent Liabilities Provisions Noncurrent portion of: Long-term debt Liability for acquisition of businesses Pension liability Operating lease payables Deferred tax liabilities Total Noncurrent Liabilities Total Liabilities Equity attributable to equity Holders of the Parent company Capital stock

Subscriptions receivable Additional paid-in capital Cumulative translation adjustments of foreign subsidiaries Unrealized gain on available-for-sale financial assets Excess of cost over the carrying value of non-controlling interests acquired Retained earnings Appropriated for future expansion Unappropriated Less cost of common stock held in treasury Non-controlling Interests Total Equity

Jollibee Foods Corpo Consolidated Statement of Com 31-Dec-10 Revenues Net sales Royalty, franchise fees and others Cost of sales Gross Profit Expenses Finance Income Interest Income Interest Expense Equity in Net Loss of a Joint Venture Other Income Income before tax Provision for income tax Current Deferred Net Income Other Comprehensive Loss Translation adjustments Net unrealized gain (loss) on available-for-sale financial assets

Total Comprehensive Income Net Income attributable to: Equity holders of the parent Company

Non-controlling interests

Total Comprehensive Income Attributable to: Equity holders of the parent Company Non-controlling interests

earnings Per share for Net Income attributable to equity Holders of the Parent company Basic Diluted

ods Corporation ment of Financial Position -Dec-10 SSETS 2010 8,170,489,301.00 1,977,158,260.00 2,134,467,159.00 1,290,342,577.00 13,572,457,297.00 176,283,046.00 21,622,471.00 8,770,518,572.00 777,719,894.00 7,019,519,057.00 33,086,384.00 920,139,371.00 1,483,533,516.00 19,202,422,311.00 32,774,879,608.00

% 24.93% 6.03% 6.51% 3.94% 41.41% 0.54%

% Change (0.09) 0.04 0.23 (0.03) (0.03) 0.14

2009 8,977,258,396.00 1,900,210,816.00 1,729,409,427.00 1,330,049,493.00 13,936,928,132.00

26.76% 2.37% 21.42% 0.10% 2.81% 4.53% 58.59% 100.00%

0.05 0.15 0.67 (0.26) 0.09 (0.02) 0.22 0.10

155,228,494.00 8,350,573,445.00 678,070,800.00 4,205,123,715.00 44,836,862.00 841,108,196.00 1,515,623,750.00 15,790,565,262.00 29,727,493,394.00

9,223,747,002.00 167,751,504.00 1,842,030,865.00

53.44% 0.97% 10.67%

0.03 0.23 5.04

8,959,730,813.00 135,934,261.00 305,024,016.00

2,341,125,065.00 170,194,278.00 13,744,848,714.00

13.56% 0.99% 79.63%

42.60 (0.05) 0.43

53,697,466.00 179,449,673.00 9,633,836,229.00

30,500,639.00

0.18%

-

51,588,581.00 141,254,668.00 212,089,188.00 1,166,944,342.00 167,104,456.00 1,769,481,874.00 15,514,330,588.00

0.30% 0.82% 1.23% 6.76% 0.97% 10.25% 89.88%

(0.98)

2,437,980,374.00

0.22 0.16 0.07 (0.54) 0.15

174,197,616.00 1,010,167,311.00 155,605,498.00 3,808,451,438.00 13,442,287,667.00

1,053,438,818.00

6.10%

0.00

1,051,458,156.00

AND EQUITIES

30,500,639.00

(17,177,884.00) 2,773,682,164.00 (317,022,645.00) 107,164,577.00 (542,764,486.00) 1,200,000,000.00 13,042,709,169.00 17,300,029,713.00 180,511,491.00 17,119,518,222.00 141,030,798.00 17,260,549,020.00

-0.10% 16.07% -1.84% 0.62% -3.14%

0.05 2.13 0.19 (0.00)

6.95% 75.56% 100.23% 1.05% 99.18% 0.82% 100.00%

0.07 0.05 0.05 42.88 0.06

Jollibee Foods Corporation Consolidated Statement of Comprehensive Income 31-Dec-10 2010 % % Change 50,506,967,113 2,864,757,569 53,371,724,682 43,254,730,460 10,116,994,222 -6,517,659,367

-215,377,701 17,259,983 -198,117,718

94.63% 5.37% 100.00% 81.04% 18.96% -12.21% 0.00% 0.31% -0.36% -0.06% 0.00% 1.16% 7.84% 0.00% 1.95% -0.13% 1.82% 6.02% 0.00% 0.00% -0.40% 0.03% -0.37%

3,197,793,977

5.99%

163,081,118 -193,201,203 -30,120,085 -2,181,411 618,898,399 4,185,931,758 1,040,927,979 -67,532,217 973,395,762 3,212,535,996

(17,177,884.00) 2,635,662,843.00 (101,234,002.00) 89,904,594.00 (543,978,573.00) 1,200,000,000.00 12,147,867,997.00 16,462,503,131.00 180,511,491.00 16,281,991,640.00 3,214,087.00 16,285,205,727.00

2009

%

0.113859164 0.096108921 0.112891822 0.126767755 0.057227324 0.039823884

45,344,123,164 2,613,570,160 47,957,693,324 38,388,328,254 9,569,365,070 -6,268,041,607

-0.003662602 -0.117439038 -0.454634174

163,680,615 -218,909,754 -55,229,139

0.512884843 0.1452056

409,084,936 3,655,179,260

0.055678025 -30.99269726 -0.015060267 0.204595712

986,027,893 2,251,622 988,279,515 2,666,899,745

0.734310541 -0.753515225 2.65788564

-124,186,353 70,024,540 -54,161,813

94.55% 5.45% 100.00% 80.05% 19.95% -13.07% 0.00% 0.34% -0.46% -0.12% 0.00% 0.85% 7.62% 0.00% 2.06% 0.00% 2.06% 5.56% 0.00% 0.00% -0.26% 0.15% -0.11%

0.200092413

2,664,623,109

5.56%

14,742,019 3,212,535,996

0.03% 6.02%

5.475351791 0.204595712

2,276,636 2,666,899,745

0.00% 5.56%

2,999,265,317 15,152,961 3,014,418,278

5.62% 0.03% 5.65%

0.148940734 5.655855833 0.153739241

2,610,461,296 2,276,636 2,612,737,932

5.44% 0.00% 5.45%

Php 3.118 3.077

Php 2.61 2.581

% Change

2008

0.095949732 0.038249129 0.092640464 0.072893836 0.179744923 0.155692999

41,374,272,795 2,517,286,157 43,891,558,952 35,780,174,124 8,111,384,828 -5,423,621,683

-0.214825815 1.083259222 -1.534215353

208,464,081 -105,080,420 103,383,661

-0.025798942 0.138307397

419,918,386 3,211,065,192

0.188477824 -0.96221601 0.11136537 0.148626102

829,656,114 59,591,960 889,248,074 2,321,817,118

-0.030455612 -7.357017726 -0.610634195

-128,087,331 -11,015,313 -139,102,644

0.148996185

2,319,087,864

-0.165839456 0.148626102

2,729,254 2,321,817,118

0.197467429 -0.165839456 0.197013152

2,179,985,220 2,729,254 2,182,714,474

Php 2.268 2.253