Consolidated Statements of Profit or Loss and Other Comprehensive Income

For the years ended December 31, 2020, 2019 and 2018
(In thousands pesos, except for basic earnings per commons share data)

	Note		2020		2019		2018
Revenue	19	$	39,612,874	$	53,288,479	$	51,755,422
Costs of sales and services	20		26,004,362		32,954,083		31,630,528
Gross profit			13,608,512		20,334,396		20,124,894

Selling and distribution expenses	20		8,708,504		10,683,194		10,135,144
Administrative expenses	20		2,784,960		2,995,030		3,006,758
Depreciation	20		1,787,838		2,123,158		2,049,080
Other income	21		(1,865,281)		(394,750)		(552,161)
Other expenses	22		511,422		228,573		262,898
Interest expense			711,502		703,010		630,113
Interest income			(269,989)		(296,756)		(272,083)
Exchange gain			(231,776)		(143,806)		(569,439)
Exchange loss			262,505		114,463		243,209
Equity in income of associates companies	13		134,331		(116,825)		(187,088)
Income before income taxes			1,074,496		4,439,105		5,378,463

Income taxes	23a		260,685		1,349,506		1,445,060

Consolidated net income for the year			813,811		3,089,599		3,933,403

Other comprehensive income, net of income tax:
Items that may be reclassified subsequently to profit or loss:
Financial Assets at fair value through ORI			(257)		-		-
Effect of adoption of new IFRS 9			-		-		(56,804)
Exchange differences on translating foreign operations			21,966		(11,708)		(2,210)
Item that will not be reclassified subsequently to profit or loss:
Actuarial gain (loss)	16		(169,475)		(952,263)		74,793

Deferred income taxes			50,843		285,679		(22,438)

Consolidated comprehe1nsive income of the year		$	716,887	$	2,411,307	$	3,926,744

Consolidated net income attributable to:
Controlling interest		$	727,493	$	2,948,504	$	3,729,854
Non-controlling interest			86,318		141,095		203,549

		$	813,811	$	3,089,599	$	3,933,403

Consolidate comprehensive income attributable to:
Controlling interest		$	630,569	$	2,270,212	$	3,723,195
Non-controlling interest			86,318		141,095

		$	716,887	$	2,411,307	$	3,926,744

Basic earnings per common share attributable to controlling interest		$	0.28	$	1.00	$	1.64

Weighted average number of shares			2,260,053,338		2,262,932,607		2,268,903,242

See accompanying notes to consolidated financial statements.