Nestl Group

Comparative Balance Sheet

December 31, 2014, 2013, and 2012

Increase or (Decrease)
2014

2013

2012

2014 - 2013

2013 - 2012

Percentage of Increase or
(Decrease)
2014 - 2013 2013 - 2012

In millions of CHF
ASSETS
Current Assets
Cash and Cash Equivalents
Short-term Investments
Inventories
Trade and Other Receivables
Prepayments and Accrued Income
Derivative Assets
Current Income Tax Assets
Assets Held for Sale
Total Current Assets
Non-current Assets
Property, Plant and Equipment
Goodwill
Intangible Assets

PHP

PHP

PHP

7,448 PHP
1,433
9,172
13,459
565
400
908
576
33,961 PHP

6,415 PHP
638
8,382
12,206
762
230
1,151
282
30,066 PHP

5,713 PHP
3,583
8,939
13,048
821
576
972
368
34,020 PHP

1,033 PHP
795
790
1,253
(197)
170
(243)
294
3,895 PHP

702
(2,945)
(557)
(842)
(59)
(346)
179
(86)
(3,954)

16.10%
124.61%
9.42%
10.27%
-25.85%
73.91%
-21.11%
104.26%
12.95%

12.29%
-82.19%
-6.23%
-6.45%
-7.19%
-60.07%
18.42%
-23.37%
-11.62%

26,895 PHP
31,039
12,673
12,315
4,550
537
124
2,243
90,376 PHP

26,576 PHP
32,688
13,018
11,586
4,979
84
27
2,899
91,857

1,526 PHP
3,518
7,127
(3,666)
943
(154)
4
(185)
9,113

319
(1,649)
(345)
729
(429)
453
97
(656)
(1,481)

5.67%
11.33%
56.24%
-29.77%
20.73%
-28.68%
3.23%
-8.25%
10.08%

1.20%
-5.04%
-2.65%
6.29%
-8.62%
539.29%
359.26%
-22.63%
-1.61%

120,442 PHP

125,877 PHP

13,008 PHP

(5,435)

10.80%

-4.32%

Financial Assets
Employee Benefit Assets
Current Income Tax Assets
Deferred Tax Assets
Total Non-current Assests

PHP

28,421 PHP
34,557
19,800
8,649
5,493
383
128
2,058
99,489 PHP

Total Assets

PHP

133,450 PHP

Investment in Associates and Joint Ventures

LIABILITIES
Current Liablities
Financial Debt
Trade and Other Payables
Accruals and Deferred Income
Provisions
Derivative Liabilities
Current Income Tax Liabilities

PHP

8,810 PHP
17,437
3,759
695
757
1,264
173
32,895 PHP

11,380 PHP
16,072
3,185
523
381
1,276
100
32,917 PHP

18,408 PHP
14,627
3,078
452
423
1,608
1
38,597 PHP

(2,570) PHP
1,365
574
172
376
(12)
73
(22) PHP

(7,028)
1,445
107
71
(42)
(332)
99
(5,680)

-22.58%
8.49%
18.02%
32.89%
98.69%
-0.94%
73.00%
-0.07%

-38.18%
9.88%
3.48%
15.71%
-9.93%
-20.65%
9900.00%
-14.72%

PHP

12,396 PHP
8,081
3,161
3,191
1,842
28,671 PHP

10,363 PHP
6,279
2,714
2,643
1,387
23,386 PHP

9,008 PHP
8,360
2,827
2,240
2,181
24,616 PHP

2,033 PHP
1,802
447
548
455
5,285 PHP

1,355
(2,081)
(113)
403
(794)
(1,230)

19.62%
28.70%
16.47%
20.73%
32.80%
22.60%

15.04%
-24.89%
-4.00%
17.99%
-36.41%
-5.00%

PHP

61,566 PHP

56,303 PHP

63,213 PHP

5,263 PHP

(6,910)

9.35%

-10.93%

PHP

322 PHP
(2,196)
(20,811)
85,260
62,575 PHP
1,564
64,139 PHP

322 PHP
(2,078)
(17,924)
80,687
61,007 PHP
1,657
62,664 PHP

- PHP
(1,722)
3,556
5,721
7,555 PHP
190
7,745 PHP

(118)
(2,887)
4,573
1,568
(93)
1,475

0.00%
78.42%
-17.09%
6.71%
12.07%
12.15%
12.08%

0.00%
5.68%
16.11%
5.67%
2.57%
-5.61%
2.35%

120,442 PHP

125,877 PHP

13,008 PHP

(5,435)

10.80%

-4.32%

Liabilities Directly Associated with Assets Held for Sale

Total Current Liabilities

Non-current Liabilities
Financial Debt
Employee Benefits Liabilities
Provisions
Deferred Tax Liabilites
Other Payables
Total Non-current Liabilities
Total Liabilites
EQUITY
Share Capital
Treasury Shares
Translation Reserve
Retained Earnings

PHP

PHP

Total Equity Attributable to Shareholders of the Parent

PHP

Non-controlling Interests
Total Equity

PHP

322 PHP
(3,918)
(17,255)
90,981
70,130 PHP
1,754
71,884 PHP

Total Liabilities and Equity

PHP

133,450 PHP

Nestl Group
Comparative Income Statement
December 31, 2014, 2013, and 2012

Increase or (Decrease)
2014

2013

2012

2014 - 2013

2013 - 2012

Percentage of Increase or
(Decrease)
2014 - 2013 2013 - 2012

In millions of CHF
Sales

PHP

91,612 PHP

92,158 PHP

Other Revenue
Cost of Goods Sold
Distribution Expenses

PHP

253 PHP
(47,553)
(8,217)
(19,651)
(1,628)
110
(907)
14,019 PHP

Marketing and Administration Expenses

Research and Development Costs

Other Trading Income
Other Tradin Expenses
Trading Operating Profit

PHP

Other Operating Income

Other Operating Expenses
Operating Profit

PHP

Financial Income
Financial Expense

PHP

PHP

Profit before taxes, associates and joint ventures

PHP

Taxes

PHP

Income from associates and joint ventures

Profit for the year

PHP

89,721

PHP

(546) PHP

2,437

-0.59%

2.72%

215 PHP
(48,111)
(8,156)
(19,711)
(1,503)
120
(965)
14,047 PHP

210 PHP
(47,500)
(8,017)
(19,041)
(1,413)
141
(637)
13,464 PHP

38 PHP
558
(61)
60
(125)
(10)
58
(28) PHP

5
(611)
(139)
(670)
(90)
(21)
(328)
583

17.67%
-1.16%
0.75%
-0.30%
8.32%
-8.33%
-6.01%
-0.20%

2.38%
1.29%
1.73%
3.52%
6.37%
-14.89%
51.49%
4.33%

154 PHP
(3,268)
10,905 PHP

616 PHP
(1,595)
13,068 PHP

146 PHP
(222)
13,388 PHP

(462) PHP
(1,673)
(2,163) PHP

470
(1,373)
(320)

-75.00%
104.89%
-16.55%

321.92%
618.47%
-2.39%

135 PHP
(772)
10,268 PHP

219 PHP
(850)
12,437 PHP

120 PHP
(825)
12,683 PHP

(84) PHP
78
(2,169) PHP

99
(25)
(246)

-38.36%
-9.18%
-17.44%

82.50%
3.03%
-1.94%

(3,367) PHP
8,003
14,904 PHP

(3,256) PHP
1,264
10,445 PHP

(3,259) PHP
1,253
10,677 PHP

(111) PHP
6,739
4,459 PHP

3
11
(232)

3.41%
533.15%
42.69%

-0.09%
0.88%
-2.17%

Nestl Group
Comparative Statement of Cash Flow
December 31, 2014, 2013, and 2012
Percentage of Increase or
(Decrease)
2014 - 2013 2013 - 2012

Increase or (Decrease)
2014

2013

2012

2014 - 2013

2013 - 2012

In millions of CHF
Operating Activities
PHP
Operating Profit
Non-cash Items of Income and Expense
Cash Flow before changes in
operating assets and liabilites
Decrease/(Increase) in Working Capital
Variation of Other Operating Assets and
Liabilites
Cash Generated from Operations
Net Cash flows from treasury activities
Taxes Paid
Dividends and Interest from Associates
and Joint Ventures
Operating Cash Flow
Investing Activities
Capital Expenditures
Expenditure on Intangible Assets
Sale of property, plant and equipment
Acquisition of Businesses
Disposal of Businesses
Investments in Associates and Joint
Ventures

10,905 PHP
6,323

13,068 PHP
4,352

13,388
3,217

PHP

(2,163) PHP
1,971

(320)
1,135

PHP

17,228 PHP

17,420 PHP

16,605 PHP

(192) PHP

815

PHP

(114) PHP

1,360 PHP

PHP

(1,474) PHP

PHP

85
17,199 PHP

(574)
18,206 PHP

(95)
18,525 PHP

(356) PHP
(2,859)

(351) PHP
(3,520)

(324) PHP
(3,118)

PHP

716

657

2,015

585

-16.55%
45.29%

-2.39%
35.28%

-1.10%

4.91%

(655)

-108.38%

-32.51%

659
(1,007) PHP

(479)
(319)

-114.81%

504.21%

-5.53%

-1.72%

(5) PHP
661

(27)
(402)

1.42%
-18.78%

8.33%
12.89%

72

8.98%

12.31%

59

PHP

14,700 PHP

14,992 PHP

15,668 PHP

(292) PHP

(676)

-1.95%

-4.31%

PHP

(3,914) PHP
(509)

(4,928) PHP
(402)

(5,273) PHP
(325)
130
(10,916)
142

1,014 PHP
(107)

345
(77)

-20.58%
26.62%

-6.54%
23.69%

(451)
11,337

518.69%
-23.75%

-346.92%
-103.86%

-14235.71%

-119.72%

(1,986)
321

(321)
421

3,958

(28)

(79)

(1,665)
(100)
3,986

(170)

Outflows from Non-current treasury

investments
Inflows from Non-current treasury
investments
Inflows/(outflows) from short-term
treasury investments
Inflows from other investing activities
Outflows from othe investing activities
Cash Flow from Investing Activities
Financing Activities
Dividend paid to shareholders of the
parent
Dividends paid to non-controlling
interests
Acquisition of non-controlling interests
Purchase of Treasury Shares
Sale of Treasury Shares
Inflows from bonds and Other noncurrent financial debt
Outflows from bonds and Other noncurrent financial debt
Inflows/(outflows) from current financial
debt
Cash Flow from Financing Activities
Currency Retranslations
Increase/(decrease) in cash and cash
Equivalents
Cash and cash equivalents at the
beginning of year
Cash and cash equivalents at the end
of year

(137)
255
(962)

(244)

(192)

107

(165)

-43.85%

208.86%

2,644

1,561

(2,389)

2,836

-90.36%

-1477.08%

400

677

(1,362)

(1,161)

-340.50%

-74.38%

-76.90%
-6.89%
91.28%

88.04%
-573.03%
-88.92%

PHP

294
(392)
(3,072) PHP

1,273
(421)
(1,606) PHP

89
(305)
(14,491) PHP

(979)
29
(1,466) PHP

596
(510)
12,580

PHP

(6,863) PHP

(6,552) PHP

(6,213) PHP

(311) PHP

(339)

4.75%

5.46%

8.54%

60.78%

PHP

(356)

(328)

(204)

(28)

(124)

(49)
(1,721)
104

(337)
(481)
60

(165)
(532)
1,199

288
(1,240)
44

(172)
51
(1,139)

-85.46%
257.80%
73.33%

104.24%
-9.59%
-95.00%

(1,612)

(1,412)

-42.27%

-27.02%

302

(621)

-13.30%

37.64%

4,078

(8,388)

-67.26%

-360.77%

(12,144)

-12.51%

86742.86%

2,202

3,814

5,226

(1,969)

(2,271)

(1,650)

(1,985)

(6,063)

2,325

(10,637) PHP
42

(12,158) PHP

(14) PHP

1,521 PHP

(526)

(219)

568

(307)

-107.98%

140.18%

1,033

702

944

331

(242)

47.15%

-25.64%

6,415

5,713

4,769

702

944

12.29%

19.79%

7,448

6,415

5,713

1,033

702

16.10%

12.29%

Nestl Group
Comparative Statement of Changes in Equity
December 31, 2014, 2013, and 2012

Increase or (Decrease)
2014

2013

2012

2014 - 2013

2013 - 2012

Percentage of Increase or
(Decrease)
2014 - 2013 2013 - 2012

In millions of CHF
Equity as at 31 December
Share Capital
Treasury Shares
Translation Reserve

PHP
PHP
PHP

Non-controlling Interests
Total Equity

322 PHP
(2,196) PHP
(20,811) PHP

322 PHP
(3,918) PHP
(17,255) PHP

- PHP
118 PHP
2,887 PHP

1,722
(3,556)

0.00%
-5.37%
-13.87%

0.00%
-43.95%
20.61%

-5.36%

-6.29%

-2.51%

-10.77%

5.95%
-2.30%

-10.83%
-10.77%

80,687

85,260

90,981 PHP

(4,573) PHP

(5,721)

PHP

61,007 PHP

62,575 PHP

70,130 PHP

(1,568) PHP

(7,555)

PHP
PHP

1,657 PHP
62,664 PHP

1,564 PHP
64,139 PHP

1,754 PHP
71,884 PHP

93 PHP
(1,475) PHP

(190)
(7,745)

Retained Earnings and Other Reserves

Total Equity Attributable to
Shareholders of the Parent

322 PHP
(2,078) PHP
(17,924) PHP