Consolidated Statements of Profit or Loss and Other Comprehensive Income

For the years ended December 31, 2021, 2020 and 2019
(In thousands of pesos, except for basic earnings per commons share data)

	Note		2021		2020		2019
Revenue	19	$	52,939,372	$	39,612,874	$	53,288,479
Costs of sales and services	20		35,440,216		26,004,362		32,954,083
Gross profit			17,499,156		13,608,512		20,334,396

Selling and distribution expenses	20		10,324,794		8,708,504		10,683,194
Administrative expenses	20		2,697,976		2,784,960		2,995,030
Depreciation	20		1,855,613		1,787,838		2,123,158
Other income	21		(632,617)		(1,865,281)		(394,750)
Other expenses	22		570,178		511,422		228,573
Interest expense			533,419		711,502		703,010
Interest income			(336,563)		(269,989)		(296,756)
Exchange gain			(95,851)		(231,776)		(143,806)
Exchange loss			111,121		262,505		114,463
Equity in income of associates companies	13		4,592		134,331		(116,825)
Income before income taxes			2,466,494		1,074,496		4,439,105

Income taxes	23a		398,935		260,685		1,349,506

Consolidated net income for the year			2,067,559		813,811		3,089,599

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)		-
Exchange differences on translating foreign operations			7,767		21,966		(11,708)
Item that will not be reclassified subsequently to profit or loss:
Actuarial gain (loss)	16		122,819		(169,475)		(952,263)

Deferred income taxes			(36,846)		50,843		285,679

Consolidated comprehensive income of the year		$	2,161,299	$	716,887	$	2,411,307

Consolidated net income attributable to:
Controlling interest		$	1,818,629	$	727,493	$	2,948,504
Non-controlling interest			248,930		86,318		141,095

		$	2,067,559	$	813,811	$	3,089,599

Consolidate comprehensive income attributable to:
Controlling interest		$	1,912,369	$	630,569	$	2,270,212
Non-controlling interest			248,930		86,318		141,095

		$	2,161,299	$	716,887	$	2,411,307

Basic earnings per common share attributable to controlling interest		$	0.85	$	0.28	$	1.00

Weighted average number of shares			2,248,324,800		2,260,053,338		2,262,932,607

See accompanying notes to consolidated financial statements.