Fruitas Holdings, Inc.

and Subsidiaries

Consolidated Statements of Financial Position

As of December 31, 2023 and 2022

Assets
Assets 2023 2022 Increase/Decrease Increase/Decrease
In Amount In Percentage (%)
Cash and cash ₱581,573,621 ₱528,582,342 +52,991,279 +10.03
equivalents
Financial assets at ₱61,316,952 ₱61,305,065 +11,887 +0.02%
FVPL
Trade receivables ₱69,198,597 ₱93,598,650 -24,400,053 -26.07%
Merchandise ₱56,727,021 ₱49,918,349 +6,808,672 +13.63%
inventories
Due from related ₱103,647,446 ₱123,929,208 -20,281,762 -16.36%
parties
Deposits and ₱108,657,313 ₱102,047,259 +6,610,054 +6.48
advance rentals
Other current ₱81,205,186 ₱34,849,570 +46,355,616 +133.01%
assets
Total Current ₱1,062,326,136 ₱994,230,443 +68,095,693 +6.85%
Assets
Financial assets at ₱1,725,000 ₱1,725,000 - -
FVOCI
Investment ₱169,337,000 ₱168,173,850 +1,163,150 +0.69%
properties
Property and ₱514,316,412 ₱360,001,089 +154,315,323 +42.87%
equipment
Right-of-use (ROU) ₱79,370,086 ₱113,480,249 -34,110,163 -30.06%
assets
Intangible assets ₱241,348,448 ₱215,038,690 +26,309,758 +12.23%
Deferred tax assets ₱60,872,899 ₱63,851,813 -2,978,914 -4.67%
Advances for asset — ₱54,000,000 -54,000,000 -100.00%
acquisition
Total Noncurrent ₱1,066,969,845 ₱976,270,691 +90,699,154 +9.30%
Assets
TOTAL ASSETS ₱2,129,295,981 ₱1,970,501,134 +158,794,847 +8.06%

Liabilities and Equity

Liabilities and 2023 2022 Increase/Decrease Increase/Decrease
Equity In Amount in Percentage (%)
Notes payable ₱252,451,500 ₱205,000,000 +₱47,451,500 +23.15%
Trade and other ₱97,103,028 ₱81,725,913 ₱15,377,115 +18.82%
payables
Lease liabilities ₱69,540,957 ₱42,752,568 ₱26,788,389 +62.66%
(current portion)
Mortgage payable — ₱80,990 -₱80,990 -100.00%
(current portion)
Income tax ₱19,765,691 ₱831,880 ₱18,933,811 +2276.03%
payable
Total Current ₱438,861,176 ₱330,391,270 ₱108,469,906 +32.83%
Liabilities
Lease liabilities ₱27,752,104 ₱89,957,285 -₱62,205,181 -69.15%
(noncurrent
portion)
Security deposits ₱870,799 ₱771,128 ₱99,671 +12.93%
Retirement ₱14,327,522 ₱13,897,930 ₱429,592 +3.09%
benefits liability
Deferred tax ₱11,214,357 ₱11,118,415 ₱5,942 +0.05%
liabilities
Total ₱54,164,782 ₱115,744,758 -₱61,579,976 -53.20%
Noncurrent
Liabilities
TOTAL ₱493,025,958 ₱446,136,028 ₱46,889,930 +10.51%
LIABILITIES

Equity
Equity 2023 2022 Increase/Decease Increase/Decrease
In Amount In Percentage (%)
Preferred stock ₱20,000,000 — ₱20,000,000 +100%
Common stock ₱213,368,000 ₱213,368,000 - -
Additional paid-in ₱777,837,044 ₱777,837,044 - -
capital
Retained earnings ₱313,244,657 ₱236,282,749 ₱76,961,908 +32.57%
Other equity ₱192,818,000 ₱195,207,311 -₱2,389,311 -1.22%
reserves
Other ₱1,772,342 ₱(808,668) ₱2,581,010 -319.17%
comprehensive
income (loss)
Equity ₱1,519,040,043 ₱1,421,886,436 ₱97,153,607 6.83%
Attributable to
Equity Holders
Non-controlling ₱117,229,980 ₱102,478,670 ₱14,751,310 14.39%
interests
TOTAL EQUITY ₱1,636,270,023 ₱1,524,365,106 ₱111,904,917 7.34%
TOTAL ₱2,129,295,981 ₱1,970,501,134 ₱158,794,847 8.06%
LIABILITIES AND
EQUITY
 2023 2022 Increase/Decease Increase/Decrease
in Amount In Percentage (%)
Revenue ₱2,469,098,39 ₱1,799,170,72 ₱669,927,674 37.23%
7 3
Direct costs -₱975,545,191 -₱746,900,309 -₱228,644,882 30.62%
Gross profit ₱1,493,553,20 ₱1,052,270,41 ₱441,282,792 41.94%
6 4
Selling and - -₱784,153,252 -₱274,085,281 34.95%
distribution ₱1,058,238,53
expenses 3
General and - ₱284,598,203 - ₱138,537,635 -₱146,060,568 105.43%
administrative
expenses
Interest expense -₱27,600,379 - ₱24,727,470 - ₱2,872,909 11.62%
Other income ₱34,937,889 ₱3,019,304 ₱31,918,585 1057.17%
Income (loss) ₱158,053,980 ₱107,871,361 ₱50,182,619 46.52%
before income tax
Provision for (benefit from) income tax
Current 42,681,432 ₱13,757,149 ₱28,924,283 210.25%
Deferred ₱2,199,856 ₱11,754,471 -₱9,554,615 -81.28%
₱44,881,288 ₱25,511,620 ₱19,369,668 75.94%
NET INCOME ₱113,172,692 ₱82,359,741 ₱30,812,951 37.41%
(LOSS)
OTHER COMPREHENSIVE INCOME
Remeasurement ₱2,625,003 - - -
gain on
retirement
benefits liability
TOTAL ₱115,797,695 ₱82,359,741 ₱33,437,954 40.60%
COMPREHENSIVE
INCOME (LOSS)
Net income (loss) attributable to:
Equity holders of ₱98,465,375 ₱277,237,220 -₱178,771,845 -64.48%
the Parent
Company
Non-controlling ₱14,707,317 ₱5,122,521 ₱9,584,796 187.11%
interests
₱113,172,692 P82,359,741 ₱30,812,951 37.40%

Total comprehensive income (loss) attributable to:

Equity holders of ₱101,046,385 ₱277,237,220 -₱176,190,835 -63.55%
the Parent
Company
Non-controlling ₱14,751,310 ₱5,122,521 ₱9,628,789 188.01%
interests
₱115,797,695 ₱82,359,741 ₱33,437,954 40.61%

Basic and ₱0.0461 ₱0.0362 ₱0.0099 27.35%

Diluted Earnings
(Loss) per Share