RFM Corporation 17-Q

Financial Statements

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Amounts in Millions) March 31, 2026 December 31, 2025 (Unaudited) (Audited) ASSETS Current Assets Cash and cash equivalents (Note 5) P=1,941 P=2,385 Receivables (Note 6) 1,918 3,077 Inventories (Note 7) 3,049 2,160 Financial assets at fair value through other comprehensive income (FVOCI) (Note 9) 3,344 3,344 Other current assets (Note 8) 331 185 Total Current Assets P=10,583 P=11,151 Noncurrent Assets Financial assets at fair value through other comprehensive income (FVOCI) (Note 9) 598 393 Investments in joint venture and associate 133 113 Property, plant and equipment (Note 10): At appraised value 5,482 5,482 At cost 5,025 5,028 Intangible assets 2,206 2,221 Other noncurrent assets (Note 12) 239 347 Total Noncurrent Assets 13,683 13,584 TOTAL ASSETS P=24,266 P=24,735 LIABILITIES AND EQUITY Current Liabilities Bank loans P=1,000 P=1,000 Accounts payable and other current liabilities (Notes 13) 6,806 7,353 Lease liabilities 65 113 Total Current Liabilities 7,871 8,466 Noncurrent Liabilities Lease liabilities - net of current portion 92 12 Other noncurrent liabilities (Note 14) 936 932 Total Noncurrent Liabilities 1,028 944 Total Liabilities 8,899 9,410 (Forward) - 6 - March 31, 2026 December 31, 2025 (Unaudited) (Audited) Equity Attributable to Equity Holders of the Parent Company Capital stock (Note 15) P=3,500 P=3,500 Additional paid-in capital (Note 15) 2,060 2,060 Treasury stock (Note 15) (612) (612) Other comprehensive income 3,392 3,392 Retained earnings (Note 15) 7,047 7,006 15,387 15,346 Non-controlling Interests (20) (21) Total Equity 15,367 15,325 TOTAL LIABILITIES AND EQUITY P=24,266 P=24,735 See accompanying Notes to Unaudited Consolidated Financial Statements. - 7 - RFM CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (Amounts in Millions, Except Per Share Data) For the Quarter Ended March 31 2026 2025 NET REVENUES P=4,970 P=4,518 DIRECT COSTS AND EXPENSES (3,239) (2,964) GROSS PROFIT 1,731 1,554 SELLING AND MARKETING EXPENSES (896) (876) GENERAL AND ADMINISTRATIVE EXPENSES (433) (311) NET OPERATING INCOME 402 367 OTHER INCOME (CHARGES) - Net (Note 21) 28 7 INCOME BEFORE PROVISION FOR INCOME TAX 430 374 PROVISION FOR INCOME TAX (89) (65) NET INCOME ₱341 ₱309 Attributable to: Equity holders of the Parent Company ₱342 ₱310 Minority interests (Note 2) (1) (1) ₱341 ₱309 Basic/Diluted Earni