Total

Working Capital 12,321,806.00

Current Ratio 1.43
Quick Ratio 22,670,387.00
Accounts Receivable Turnover 18.35
Number of Days Sales in Receivables 40
Inventory Turnover 0.00
Number of Days Sales in Inventory 0.00
Ratio of Fixed Assets to Long-Term Liabilities 0.52
Ratio of Liabilities to Stockholder's Equity 1.06
Number of Times Interest Charges Are Earned
Number of Times Preferred Dividends Are Earned
Ratio of Sales to Assets
Rate Earned on Total Assets
Rate Earned on Stockholders' Equity
Earnings per Share (EPS) on Common Stock
Price-Earnings (P/E) Ratio
Dividends per Share
Dividend Yield
PILIPINAS SHELL PETROLEUM CORPORATION
STATEMENT OF FINANCIAL POSITION
As of December 31, 2018
(All amounts in thousands Philippine pesos, except per value per share)
Note
ASSETS
Current assets
Cash 3
Trade and Receivables, net 4
Inventories, net 5
Prepayment and other current assets 6
Total Current Assets
Noncurrent Assets
Long term receivables, rentals and investments, net 7
Property, plant and equipment, net 8
Other assets, net 10
Total Noncurrent Assets
TOTAL ASSETS

LIABILITIES AND EQUITIES

Current Liabilities
Trade and other payables 11
Short term loans 12
Current portion of long-term debt 13
Dividends payable
Total Current Liabilities
Noncurrent Liabilities
Long-term debt, net of current position 13
Deferred tax liabilities 9
Provisions and other liabilities 14
Total Noncurrent Liabilities
Equity
Share capital - P1 per value 15
Share premium
Treasury Shares 15
Retained earnings 16
Other reserves 10, 24
Total Equity
TOTAL LIABILITIES AND EQUITY
 2018 2017

4,455,124 6,163,261 quick assets

12,992,819 10,865,099 ave. acc. receivab 11,928,959.00
19,642,836 21,671,210 average inventory 20,657,023.00
3,687,782 7,176,689
40,778,561 45,876,259

4,659,005 4,304,486
28,128,715 25,434,373
6,600,096 6,261,887
39,387,816 36,000,746
80,166,377 81,877,005

25,180,133 21,163,783
3,261,000 4,057,000
- 6,000,000
15,622 14,216
28,456,755 31,234,999

9,000,000 5,000,000
693,574 702,049
3,044,237 2,804,569
12,737,811 8,506,618

1,681,058 1,681,058
26,161,736 26,161,736
(507,106) (507,106)
11,074,898 14,339,453
561,225 460,247
38,971,811 42,135,388
80,166,377 81,877,005
PILIPINAS SHELL PETROLEUM CORPORATION
STATEMENT OF INCOME
As of December 31, 2018
(All amounts in thousands Philippine pesos, except per value per share)
Note 2018
NET SALES
Sales of goods 30, 21 223,817,699
Sales discounts and rebates (4,949,023)
218,868,676
COSTS AND EXPENSE (INCOME)
Cost of sales 18 196,573,873
Selling expenses 19 11,644,884
General and administrative expenses 19 2,741,716
Other operating income, net 20 (583,862)
210,376,611
INCOME FROM OPERATIONS 8,492,065

OTHER INCOME (CHARGES)

Finance income 21 45,117
Finance expense 21 (1,245,034)
Other non-operating income, net 22 -
(1,199,917)

INCOME BEFORE TAX 7,292,148

PROVISION FOR INCOME TAX 9 2,215,822

NET INCOME
EARNINGS PER SHARE - BASIC 5,076,326
AND DILUTED 17 3.15
 2017 2016

174,470,235 142,075,428
(4,994,423) (5,312,142)
169,475,812 136,763,286 ave. daily sales 599640.2082

143,070,566 112,461,546
11,570,642 10,562,727
2,289,457 2,500,333
(489,417) (470,707)
156,441,248 125,053,899
13,034,564 11,709,387

68,393 175,707
(721,905) (1,058,018)
1,379,168 1,041
725,656 (881,270)

13,760,220 10,828,117

3,391,896 3,384,342

10,368,324 7,443,775
6.43 4.68
PILIPINAS SHELL PETROLEUM CORPORATION
STATEMENT OF CHANGES IN EQUITY
As of December 31, 2018
(All amounts in thousands Philippine pesos, except per value per share)
Share capital Share premiumTreasury SharesRetained Earnings
Balance as January 1, 2018 1,681,058 26,161,736 (507,106) 14,339,453
Impact of adoption of PFRS 9 - - - (49,370)
Income
Increaseforin the
fair year
value of equity through - - - 5,076,326
OCT (net(net
benefits of tax amounting
of tax to P74,562)
amounting to - - - -
P682) - - - 1,592
Total comprehensive income - - - 5,028,548
Transaction with owners - - -
Cash dividents - - - (8,293,103)
Share-based compensation
Total transactions with owners for the - - -
year - - - (8,293,103)
Balances as of December 31, 2 1,681,058 26,161,736 (507,106) 11,074,898
Share-based Fair value
Reserve Reserve Total
138,200 322,047 42,135,388
- - (49,370)
- - 5,076,326
- 93,298 93,298
- - 1,592
93,298 5,121,846

- - (8,293,103)
7,680 - 7,680
7,680 - (8,285,423)
145,880 415,345 38,971,811
PILIPINAS SHELL PETROLEUM CORPORATION
STATEMENT OF CASH FLOWS
As of December 31, 2018
(All amounts in thousands Philippine pesos, except per value per share)
Note 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Income before income tax 7,292,148
Adjustments for:
Depreciation Expense 8, 10 1,957,576
Amortization of prepaid lease payments 1,675,750
Interest and finance charges 21 634,114
Pension expense 24 (106,509)
Accretion expense 21 110,388
Share-based compensation 24 129,648
(Gain) loss on disposal property and equipment 20 (36,230)
Write-off of assets -
Interest income 21 (5,551)
Unrealized mark to market loss (gain), net 20 258,264
Unrealized foreign exchange gain, net 21 (39,566)
Share in (profit) loss of associates 7 (54,197)
Reversals of provisions for ARQ and remediation 14 (12,750)
Provision (reversal of) for legal case, net 14, 20, 22 (20,956)
Cost incurred for issuance of shares -
Operating
Increase in income before
inventories, working
trade capital
and other changesprepayments
receivables, 11,782,129
and other assets (229,607)
Increase in trade and other payables and provisions and other liabilities 3,148,828
Cash generated from operations 14,701,350
Income tax expense (482,649)
Pension contributions paid 24 (75,127)
Net cash flows from operating activities 14,143,574
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property and equipment (3,942,808)
Decrease (increase) in long term receivables & rentals net (533,184)
Dividend received 44,882
Proceeds from sale of property, plant and equipment 134,046
Interest received 21 5,551
Net cash flows from investing activities (4,291,513)
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from issuance of shares -
Net proceeds from (settlements of) short-term borrowings (796,000)
Repayment of long term loan (11,000,000)
Drawdown of long term loan 9,000,000
Cash dividends paid (8,293,103)
Interest and finance charges paid (630,779)
Cost incurred for issuance of shares -
Net cash flows used in financing activities (11,719,882)

NET (DECREASE) INCREASE IN CASH (1,867,821)

EFFECT OF EXCHANGE RATE CHANGES ON CASH 159,684

CASH AT BEGINNING OF YEAR 3 6,163,261

CASH AT END OF YEAR 3 4,455,124

 2017 2016

13,760,220 10,828,117

1,959,441 1,742,907
1,582,625 1,830,315
496,333 474,452
2,114,558 134,737
81,993 96,038
72,755 134,064
18,375 153,836
4,452 23,310
(6,371) (1,178)
(7,502) (333,963)
(62,022) (174,529)
(36,744) (21,117)
(101,128) (151,391)
(3,379,168) 37,476
- 168,822
16,497,817 14,941,896
(9,512,799) (6,490,780)
4,106,172 224,579
11,091,190 8,675,695
- -
(159,769) (176,081)
10,931,421 8,499,614

(4,140,851) (3,265,262)
(433,481) (198,679)
19,040 13,530
9,240 18,266
6,371 1,178
(4,539,681) (3,430,967)

- 1,842,500
(1,313,000) 2,653,000
- (5,000,000)
 - -
(2,662,183) (3,300,000)
(493,506) (526,462)
- (218,077)
(4,468,689) (4,549,039)

1,923,051 519,608

(34,056) 177,856

4,274,266 3,576,802

6,163,261 4,274,266