Business Plan – Manila Broadcasting Company

Andaya, Bagcal, Chy, Navato, Pili, Viernes

Projected Financial Statements

After Implementation
MANILA BROADCASTING COMPANY
STATEMENT OF FINANCIAL POSITION
As of December 31
2018 2019 2020 2021 2022
ASSETS
Current Assets
Cash 265,084,502.55 241,272,126.08 228,089,524.15 254,461,402.26 283,007,321.95
Receivables 370,492,769.10 377,902,624.48 385,460,676.97 393,169,890.51 401,033,288.32
Due from affiliates 268,280,025.66 273,645,626.17 279,118,538.70 284,700,909.47 290,394,927.66
Prepaid expenses and other current assets 153,582,525.06 156,654,175.56 159,787,259.07 162,983,004.25 166,242,664.34
Materials and supplies 3,626,740.95 3,808,078.00 3,998,481.90 4,198,405.99 4,408,326.29
Total Current Assets 1,061,066,563.32 1,053,282,630.29 1,056,454,480.79 1,099,513,612.49 1,145,086,528.56

Noncurrent Assets
Available-for-sale financial assets 42,419,455.00 42,419,455.00 42,419,455.00 42,419,455.00 42,419,455.00
Investment in an associate - - - - -
Property and equipment At cost 429,737,504.58 425,440,129.53 421,185,728.24 416,973,870.96 412,804,132.25
At revalued amount 226,007,418.00 223,747,343.82 221,509,870.38 219,294,771.68 217,101,823.96
Investment properties 43,162,500.00 43,162,500.00 43,162,500.00 43,162,500.00 43,162,500.00
Goodwill and other intangible assets 83,968,870.44 85,648,247.85 87,361,212.81 89,108,437.06 90,890,605.80
Deferred tax assets 4,008,981.48 4,089,161.11 4,170,944.33 4,254,363.22 4,339,450.48
Other noncurrent assets 6,998,429.10 7,138,397.68 7,281,165.64 7,426,788.95 7,575,324.73
Total Noncurrent Assets 836,303,158.60 831,645,234.99 827,090,876.39 822,640,186.86 818,293,292.22
TOTAL ASSETS 1,897,369,721.92 1,884,927,865.29 1,883,545,357.18 1,922,153,799.35 1,963,379,820.78

LIABILITIES AND EQUITY

Current Liabilities
Accounts payable and accrued expenses 420,450,470.88 428,859,480.30 437,436,669.90 446,185,403.30 455,109,111.37
Income tax payable 51,927,658.24 49,081,992.01 57,251,509.60 62,196,658.54 69,697,339.59
Dividends payable 21,462,113.76 21,891,356.04 22,329,183.16 22,775,766.82 23,231,282.16
Talent fees and commissions payable - - - - -
Total Current Liabilities 493,840,242.88 499,832,828.34 517,017,362.66 531,157,828.66 548,037,733.12

Noncurrent Liabilities
Loans payable 219,461,294.08 214,982,492.16 210,503,690.24 206,024,888.32 201,546,086.40
Deferred tax liabilities - net 43,259,424.00 44,124,612.48 45,007,104.73 45,907,246.82 46,825,391.76
Accrued retirement benefits 4,722,863.04 4,628,405.78 4,535,837.66 4,445,120.91 4,356,218.49
Accrued rent 2,062,927.56 2,104,186.11 2,146,269.83 2,189,195.23 2,232,979.13
Total Noncurrent Liabilities 269,506,508.68 265,839,696.53 262,192,902.47 258,566,451.28 254,960,675.79
Total Liabilities 763,346,751.56 765,672,524.87 779,210,265.12 789,724,279.95 802,998,408.90

Equity Attributable to the Equity Holders of the Parent Company

Capital Stock 402,803,777.00 402,803,777.00 402,803,777.00 402,803,777.00 402,803,777.00
Additional paid-in capital 79,354.00 79,354.00 79,354.00 79,354.00 79,354.00
Revaluation increment on land 149,304,051.94 150,797,092.46 152,305,063.38 153,828,114.02 155,366,395.16
Unrealized market-to-market gain on available-for-sale financial assets 90,000.00 90,000.00 90,000.00 90,000.00 90,000.00
Remeasurements on accrued retirement benefits 28,139,942.29 28,421,341.71 28,705,555.13 28,992,610.68 29,282,536.79
Retained earnings 446,740,909.13 424,849,553.09 402,520,369.94 422,907,103.12 442,838,320.96
Treasury stock - 120,787.00 - 120,787.00 - 120,787.00 - 120,787.00 - 120,787.00
1,027,037,247.36 1,006,920,331.27 986,383,332.45 1,008,580,171.82 1,030,339,596.91
Noncontrolling Interest 106,985,723.00 112,335,009.15 117,951,759.61 123,849,347.59 130,041,814.97
Total Equity 1,134,022,970.36 1,119,255,340.42 1,104,335,092.06 1,132,429,519.41 1,160,381,411.88
TOTAL LIABILITIES AND EQUITY 1,897,369,721.92 1,884,927,865.29 1,883,545,357.18 1,922,153,799.35 1,963,379,820.78
Business Plan – Manila Broadcasting Company
Andaya, Bagcal, Chy, Navato, Pili, Viernes
After Implementation
MANILA BROADCASTING COMPANY
STATEMENTS OF COMPREHENSIVE INCOME
Years Ended December 31
2018 2019 2020 2021 2022
REVENUE 1,108,676,748.77 1,164,110,586.21 1,223,480,226.11 1,287,101,197.87 1,355,317,561.36
COST OF SERVICES 658,332,253.42 691,248,866.09 726,502,558.26 764,280,691.29 804,787,567.93
GROSS PROFIT 450,344,495.35 472,861,720.12 496,977,667.85 522,820,506.57 550,529,993.42
OPERATING EXPENSES 355,083,961.68 391,946,700.34 400,623,844.75 409,611,639.12 418,927,451.89
OTHER INCOME (EXPENSES)
Processing Income 65,731,130.75 71,208,032.46 77,141,284.95 83,568,912.64 90,532,108.24
Rental Income 8,251,692.03 8,251,692.03 8,251,692.03 8,251,692.03 8,251,692.03
Dividend Income - - 6,372,478.48 - -
Interest Income 249,069.94 244,088.54 239,206.77 234,422.63 229,734.18
Equity in net icome/loss of an associate - - - - -
Other income - net 3,599,767.74 2,987,807.22 2,479,879.99 2,058,300.40 1,708,389.33
77,831,660.45 82,691,620.25 94,484,542.23 94,113,327.69 100,721,923.78
INCOME BEFORE INCOME TAX 173,092,194.13 163,606,640.03 190,838,365.32 207,322,195.15 232,324,465.31
PROVISION FOR INCOME TAX 51,927,658.24 49,081,992.01 57,251,509.60 62,196,658.54 69,697,339.59
NET INCOME 121,164,535.89 114,524,648.02 133,586,855.72 145,125,536.60 162,627,125.72
OTHER COMPREHENSIVE INCOME
Not to be reclassified to profit or loss in subsequent periods:
Remeasurement gain on accrued retirement benefits, net of deferred income tax 3,267,397.77 2,618,072.79 2,097,787.17 1,680,897.12 1,346,854.99
Increase in revaluation increment due to appraisal, net of deferred income tax 3,007,754.16 2,545,186.40 2,153,757.74 1,822,527.58 1,542,237.88
6,275,151.93 5,163,259.18 4,251,544.91 3,503,424.69 2,889,092.87
TOTAL COMPREHENSIVE INCOME 127,439,687.82 119,687,907.21 137,838,400.63 148,628,961.30 165,516,218.59