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Mathematical Computation

Horizontal or Comparative analysis

STATEMENTS OF FINANCIAL POSITION


Percentage of
2014 2013 Difference change
ASSETS
Current Assets
27,966,000,0
Cash and cash equivalents 28,677,000,000
00 711,000,000 2.54%
Short-term investments 301,000,000 17,000,000 284,000,000 1670.59%
Financial assets at fair value through profit or loss - 42,709,000,0 5,608,000,00
5,608,000,000
UITF 00 0 13.13%
32,915,000,00 25,659,000,0
Accounts and notes receivable 58,574,000,000
0 00 77.96%
14,205,000,00 33,974,000,0
Inventories 48,179,000,000
0 00 239.17%
21,163,000,0
Other current assets 23,638,000,000 2,475,000,000
00 855.07%
165,634,000,00 56,869,000,00 108,765,000,
Total Current Assets
0 0 000 191.26%
Non Current Assets
26,532,000,0
Noncurrent accounts and notes receivable 31,374,000,000 4,842,000,000
00 547.96%
Available-for-sale financial assets 784000000 211,000,000 573,000,000 271.56%
38,407,000,0
Land and improvements 80,445,000,000 42,038,000,000
00 91.36%
-
Investments in associates and joint ventures 10,963,000,000 52,792,000,000 41,829,000,0
00 -79.23%
50,331,000,0
Investment properties - net 67,898,000,000 17,567,000,000
00 286.51%
17,781,000,0
Property and equipment - net 18,825,000,000 1,044,000,000
00 1703.16%
4,514,000,00
Deferred tax assets - net 6,457,000,000 1,943,000,000
0 232.32%
4,159,000,00
Other noncurrent assets 6,563,000,000 2,404,000,000
0 173.00%
-
Total Non Current Assets 22,331,000,000 122,841,000,000 100,510,000,
000 -81.82%
388,944,000,00 209,234,000,
Total Assets 179,710,000,000
0 000 116.43%
LIABILITIES AND EQUITY
Current Liabilities
104,532,000,00 71,312,000,0
Accounts and other payables 33,220,000,000
0 00 214.67%
12,402,000,0
Short-term debt 16,302,000,000 3,900,000,000
00 318.00%
Income tax payable 647000000 647,000,000
-
Current portion of long-term debt 5,067,000,000 671,000,000 32,904,000,0
00 -4903.73%
8,898,000,00
Deposits and other current liabilities 8,898,000,000
0
135,446,000,00 37,971,000,00 97,475,000,0
Total Current Liabilities
0 0 00 256.71%
Non Current Liabilities
103,296,000,00 46,622,000,0
Long-term debt - net of current portion 56,674,000,000
0 00 82.26%
Pension liabilities 1,580,000,000 801000000 779,000,000 97.25%
1,967,000,00
Deferred tax liabilities - net 1,967,000,000
0
16,396,000,0
Deposits and other Non-Current Liabilities 24,659,000,000 8,263,000,000
00 198.43%
131,503,000,00 65,765,000,0
Total Noncurrent Liabilities 65,738,000,000
0 00 100.04%
266,949,000,00 163,420,000,
Total Liabilities 103,529,000,000
0 000 157.85%
Equity
Equity attributable to equity holders of Ayala Land, Inc.
44,455,000,0
Paid-up capital 44,851,000,000
00 396,000,000 0.89%
31,905,000,0 66,280,000,0
Retained earnings 66,478,000,000
00 00 207.74%
Stock options outstanding 186000000 198,000,000 -12,000,000 -6.06%
Actuarial loss on pension liabilities -572000000 -384,000,000 -188,000,000 48.96%
Net unrealized gain on available-for-sale
136000000
financial assets 7,000,000 129,000,000 1842.86%
-
Equity reserves -4,139,000,000 4,139,000,00
0
Treasury shares -
106,940,000,00 106,940,000,
0 000
15,056,000,0
Non-controlling interests 15,056,000,000
00
121,995,000,00 76,181,000,0 45,814,000,0
Total Equity
0 00 00 60.14%
388,944,000,00 179,710,000, 209,234,000,
Total Liabilities and Equity
0 000 000 116.43%

STATEMENTS OF INCOME
REVENUE
-
Real estate 20,977,000,000 24,824,000,000 3,847,000,00
0 -15.50%
-
Interest income 1,132,000,000 4,502,000,000 3,370,000,00
0 -74.86%
Equity in net earnings of associates and joint ventures 479,000,000 843,000,000 -364,000,000 -43.18%
Other income 161,000,000 314,000,000 -153,000,000 -48.73%
-
22,749,000,000 30,483,000,000 7,734,000,00
0 -25.37%
COSTS AND EXPENSES
-
Real estate 14,285,000,000 16,465,000,000 2,180,000,00
0 -13.24%
-
General and administrative expenses 1,543,000,000 3,114,000,000 1,571,000,00
0 -50.45%
-
Interest and other financing charges 1,142,000,000 2,863,000,000 1,721,000,00
0 -60.11%
Other charges 266,000,000 701,000,000 -435,000,000 -62.05%
-
17,236,000,000 23,141,000,000 5,905,000,00
0 -25.52%
-
INCOME BEFORE INCOME TAX 5,513,000,000 7,342,000,000 1,829,000,00
0 -24.91%
PROVISION FOR INCOME TAX
Current 1,420,000,000 1,619,000,000 -199,000,000 -12.29%
Deferred -101,000,000 -754,000,000 653,000,000 -86.60%
865,000,000 0.00%
-
NET INCOME 4,194,000,000 6,477,000,000 2,283,000,00
0 -35.25%

Net income attributable to:


3,464,000,00
Equity holders of Ayala Land, Inc. 3,464,000,000
0
Non-controlling interests 731,000,000 731,000,000
4,194,000,00
4,194,000,000
0

Earnings Per Share


Basic 0.25
Diluted 0.25

STATEMENTS OF CHANGES IN EQUITY


EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF
AYALA LAND, INC.
COMMON SHARES - 1.00 par value
Issued:
Balance at beginning of year 14,064,000,000 13,729,000,000 335,000,000 2.44%
Issuance of shares 123,000,000 335,000,000 -212,000,000 -63.28%
Balance at end of year 14,187,000,000 14,064,000,000 123,000,000 0.87%
Subscribed:
Balance at beginning of year 109,000,000 102,000,000 7,000,000 6.86%
Issuance of shares -123,000,000 342,000,000 -465,000,000 -135.96%
Stock options exercised 17,000,000 -335,000,000 352,000,000 -105.07%
Balance at end of year 3,000,000 109,000,000 -106,000,000 -97.25%
PREFERRED SHARES - 0.10 par value
1,307,000,00
Issuance of shares 1,307,000,000
0
ADDITIONAL PAID-IN CAPITAL
11,496,000,0
Balance at beginning of year 29,712,000,000 18,216,000,000
00 63.11%

-
Stock options exercised 488,000,000 11,496,000,000 11,008,000,0
00 -95.76%
Issuance of Common Stock 488 488
Balance at end of year 30,200,000,000 29,712,000,000 488,000,000 1.64%
SUBSCRIPTIONS RECEIVABLE
Balance at beginning of year -737,000,000 -540,000,000 -197,000,000 36.48%
Subscriptions -177,000,000 -379,000,000 202,000,000 -53.30%
Collections 68,000,000 181,000,000 -113,000,000 -62.43%
Balance at end of year -846,000,000 -737,000,000 -109,000,000 14.79%
TOTAL PAID-UP CAPITAL 44,851,000,000 44,455,000,000 396,000,000 0.89%
STOCK OPTIONS
Balance at beginning of year 198,000,000 214,000,000 -16,000,000 -7.48%
Stock options exercised -13,000,000 -35,000,000 22,000,000 -62.86%
Balance at end of year 186,000,000 198,000,000 -12,000,000 -6.06%
RETAINED EARNINGS
Appropriated for future expansion 6,000,000,000 6,000,000,000 0 0.00%
Unappropriated:
27,993,000,0
Balance at beginning of year 51,609,000,000 23,616,000,000
00 118.53%
Prior years adjustments (PAS 19) 0 0
-
Cash dividends -5,933,000,000 -4,067,000,000 1,866,000,00
0 45.88%
8,326,000,00
Net income 14,803,000,000 6,477,000,000
0 128.55%
40,573,000,0
Balance at end of year 66,478,000,000 25,905,000,000
00 156.62%
-
Parent or Other reserves -4,139,000,000 36,044,000,0
-58,000,000 00 62144.83%
30,434,000,0
62,339,000,000 31,905,000,000
00 95.39%
UNREALIZED LOSS ON AVAILABLE-FOR-SALE
FINANCIAL ASSETS 136,000,000 6,475,000,000 - -97.90%
6,339,000,00
0
REMEASUREMENT LOSS ON DEFINED BENEFIT PLANS -572,000,000 -384,000,000 -188,000,000 48.96%
NON-CONTROLLING INTERESTS

15,755,000,0
Balance at beginning of year 13,628,000,000 -2,127,000,000
00 -740.71%
-
Net income (loss) 2,912,000,000 6,477,000,000 3,565,000,00
0 -55.04%
Increase (decrease) in non-controlling interests -139,000,000 -139,000,000
-
Dividends paid to minority interest -1,343,000,000 1,343,000,00
0
8,778,000,00
Balance at end of quarter 15,056,000,000 6,278,000,000
0 139.82%
121,998,000
121,998,000000
000

Vertical Analysis

STATEMENTS OF FINANCIAL POSITION


2014 2013
ASSETS
Current Assets
28,677,000,00 7.37 27,966,000,00 15.56
Cash and cash equivalents
0 % 0 %
0.08
Short-term investments 301,000,000
% 17,000,000 0.01%
Financial assets at fair value through 5,608,000,000 1.44 42,709,000,00 23.77
profit or loss - UITF
% 0 %
58,574,000,00 15.06 18.32
Accounts and notes receivable 32,915,000,000
0 % %
48,179,000,00 12.39
Inventories 14,205,000,000
0 % 7.90%
23,638,000,00 6.08
Other current assets 2,475,000,000
0 % 1.38%
165,634,000,0
Total Current Assets
00
56,869,000,000
0.00
Non Current Assets
%
Noncurrent accounts and notes 31,374,000,00 8.07
4,842,000,000
receivable 0 % 2.69%
0.20
Available-for-sale financial assets 784000000 211,000,000
% 0.12%
80,445,000,00 20.68 23.39
Land and improvements 42,038,000,000
0 % %
Investments in associates and joint 10,963,000,00 2.82 29.38
52,792,000,000
ventures 0 % %
67,898,000,00 17.46
Investment properties - net 17,567,000,000
0 % 9.78%
18,825,000,00 4.84
Property and equipment - net 1,044,000,000
0 % 0.58%
1.66
Deferred tax assets - net 6,457,000,000 1,943,000,000
% 1.08%
1.69
Other noncurrent assets 6,563,000,000 2,404,000,000
% 1.34%
22,331,000,00 122,841,000,00
Total Non Current Assets
0 0
388,944,000,0 100.00
Total Assets 179,710,000,000
00 100% %

LIABILITIES AND EQUITY


Current Liabilities
104,532,000,0 26.88 18.49
Accounts and other payables 33,220,000,000
00 % %
16,302,000,00 4.19
Short-term debt 3,900,000,000
0 % 2.17%
0.17
Income tax payable 647000000
% 0.00%
1.30
Current portion of long-term debt 5,067,000,000 671,000,000
% 0.37%
2.29
Deposits and other current liabilities 8,898,000,000
% 0.00%
135,446,000,0 21.13
Total Current Liabilities 37,971,000,000
00 %
Non Current Liabilities
103,296,000,0 26.56 56,674,000,00 31.54
Long-term debt - net of current portion
00 % 0 %
0.41
Pension liabilities 1,580,000,000 801000000
% 0.45%
0.51
Deferred tax liabilities - net 1,967,000,000
% 0.00%
Deposits and other Non-Current 24,659,000,00 6.34
8,263,000,000
Liabilities 0 % 4.60%
131,503,000,0
Total Noncurrent Liabilities 65,738,000,000
00
266,949,000,0 103,529,000,0
Total Liabilities
00 00
Equity
Equity attributable to equity holders of
Ayala Land, Inc.
44,851,000,00 11.53 44,455,000,00 24.74
Paid-up capital
0 % 0 %
66,478,000,00 17.09 31,905,000,00 17.75
Retained earnings
0 % 0 %
0.05
Stock options outstanding 186000000
% 198,000,000 0.11%
Actuarial loss on pension -572000000 - -384,000,000 -
liabilities 0.15 0.21%
%
Net unrealized gain on available- 0.03
136000000
for-sale financial assets % 7,000,000 0.00%
-
-
Equity reserves
4,139,000,000
1.06
%
Treasury shares -
106,940,000,0 27.49
00 %
15,056,000,00 3.87
Non-controlling interests
0 %

121,995

76,181,000,00
Total Equity 0
388,944,000,0 179,710,000,0
Total Liabilities and Equity
00 100% 00 100%

STATEMENTS OF INCOME
REVENUE
Real estate 20,977,000,000 24,824,000,000
Interest income 1,132,000,000 4,502,000,000
Equity in net earnings of associates and joint
ventures
479,000,000 843,000,000
Other income 161,000,000 314,000,000
22,749,000,000 100% 30,483,000,000 100%
COSTS AND EXPENSES
Real estate 14,285,000,000 16,465,000,000
General and administrative expenses 1,543,000,000 3,114,000,000
Interest and other financing charges 1,142,000,000 2,863,000,000
Other charges 266,000,000 701,000,000
75.77 75.91
17,236,000,000 23,141,000,000
% %
INCOME BEFORE INCOME TAX 5,513,000,000 7,342,000,000
PROVISION FOR INCOME TAX
Current 1,420,000,000 1,619,000,000
Deferred -101,000,000 -754,000,000
865,000,000
18.44 647700000000.00 21.25
NET INCOME 4,194,000,000
% % %