PETRON FINANCIAL ANALYSIS

PETRON CORPORATION AND SUBSIDIARIES
Statement of Financial Position
For the years ended December 31, 2011 and 2012
COMPARATIVE PRESENTATION
(Amount in Million Pesos)

2012
2011
Peso Amount
%
Ratio
Assets

Current Assets
26,965
23,823
3142
13%
1.13
Financial assets at fair value through profit or loss
186
237
-51
-22%
0.78
Available-for-sale financial assets
51
-

Trade and other receivables-net
57,731
26,605
31126
117%
2.17
Inventories
49,582
37,763
11819
31%
1.31
Other current assets
10,750
8,178
2572
31%
1.31

145,265
96,606
48659
50%
1.50
Assets held for sale
588
10
578
5780%
58.80
Total Current Assets
145,853
96,616
49237
51%
1.51

Noncurrent Assets
860
1,036
-176
-17%
0.83
Available-for-sale financial assets
102,140
50,446
51694
102%
2.02
Property, plant and equipment-net
1,641
2,505
-864
-34%
0.66
Investment property-net
115
794
-679
-86%
0.14
Deferred tax assets
78
15
63
420%
5.20
Goodwill
10,261
-

Other noncurrent assets-net
18,252
24,383
-6131
-25%
0.75
Total Noncurrent Assets
133,347
79,179
54168
68%
1.68

279,200
175,795
103405
59%
1.59
LIABILITIES AND EQUITY

Current Liabilities

Short-term loans
99,735
40,593
59142
146%
2.46
Liabilities for crude oil and petroleum product importation
24,960
13,842
11118
80%
1.80
Trade and other payables
14,867
7,381
7486
101%
2.01
Derivative liabilities
245
55
190
345%
4.45
Income tax payable
52
78
-26
-33%
0.67
Current portion of the long-term debt-net
73
4,124
-4051
-98%
0.02
Total Current Liabilities
139,932
66,073
73859
112%
2.12

Noncurrent Liabilities

Long-term debt-net of current portion
55,940
45,744
10196
22%
1.22
Retirement benefits liability
713
671
42
6%
1.06
Deferred tax liabilities
3,045
1,819
1226
67%
1.67
Asset retirement obligation
997
1,061
-64
-6%
0.94
Other noncurrent liabilities
2,435
740
1695
229%
3.29
Total Noncurrent Liabilities
63,130
50,035
13095
26%
1.26
Total Liabilities
203,062
116,108
86954
75%
1.75

Equity Attributable to Equity Holders of the Parent