Belle Income Statement

Financials in millions PHP. Fiscal year is January - December.

Millions PHP. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	5,469	5,686	5,465	5,209	3,302	4,030
Other Revenue	9.03	5.23	23.22	17.95	24.99	16.38
Revenue	5,478	5,691	5,488	5,227	3,327	4,047
Revenue Growth (YoY)	3.81%	3.69%	5.01%	57.10%	-17.78%	-45.16%
Cost of Revenue	1,887	1,879	1,895	2,133	2,056	1,942
Gross Profit	3,591	3,812	3,593	3,094	1,271	2,105
Selling, General & Admin	695.44	728.42	770.35	766.55	685.95	878.66
Other Operating Expenses	-19.34	-19.34	61.35	-17.83	79.82	23.17
Operating Expenses	676.1	709.08	831.7	748.72	765.77	901.82
Operating Income	2,915	3,103	2,762	2,345	505.61	1,203
Interest Expense	-714.98	-774.28	-536.97	-516.34	-603.83	-559.57
Interest & Investment Income	172.64	166.12	74.3	29.13	30.26	69.45
Earnings From Equity Investments	-2.34	-2.34	2.73	-0.42	-1.67	-2.52
Currency Exchange Gain (Loss)	-0.63	0.2	-2.3	-1.66	0.75	-1.99
Other Non Operating Income (Expenses)	-62.06	23.55	18.98	11.03	308.91	763.58
EBT Excluding Unusual Items	2,308	2,516	2,318	1,867	240.02	1,472
Impairment of Goodwill	-	-	-	-	-	-417.8
Gain (Loss) on Sale of Investments	5.25	-0.06	200.62	-0.37	-23.62	-6.2
Gain (Loss) on Sale of Assets	0.31	0.31	26.83	0.94	0.18	80.51
Asset Writedown	-	-	-	-	-	-9.33
Other Unusual Items	-	-	20.82	-	-	-
Pretax Income	2,313	2,516	2,567	1,867	216.57	1,119
Income Tax Expense	95.33	90.45	143.48	156.7	-528.63	227.32
Earnings From Continuing Operations	2,218	2,426	2,423	1,710	745.2	891.7
Minority Interest in Earnings	-28.38	-91.23	-539.63	-314.71	-168.22	109.58
Net Income	2,190	2,334	1,884	1,396	576.98	1,001
Net Income to Common	2,190	2,334	1,884	1,396	576.98	1,001
Net Income Growth	21.12%	23.93%	34.95%	141.91%	-42.38%	-61.63%
Shares Outstanding (Basic)	9,696	9,444	9,444	9,444	9,445	9,444
Shares Outstanding (Diluted)	9,696	9,444	9,444	9,444	9,445	9,444
Shares Change (YoY)	-	-	-	-0.01%	0.01%	-
EPS (Basic)	0.23	0.25	0.20	0.15	0.06	0.11
EPS (Diluted)	0.23	0.25	0.20	0.15	0.06	0.11
EPS Growth	21.12%	23.93%	34.95%	141.92%	-42.38%	-61.63%
Free Cash Flow	4,829	4,554	3,516	2,319	1,132	-457.23
Free Cash Flow Per Share	0.50	0.48	0.37	0.25	0.12	-0.05
Dividend Per Share	0.060	0.060	-	0.060	-	-
Gross Margin	65.55%	66.97%	65.47%	59.19%	38.21%	52.01%
Operating Margin	53.21%	54.52%	50.32%	44.86%	15.20%	29.73%
Profit Margin	39.97%	41.02%	34.32%	26.71%	17.34%	24.74%
Free Cash Flow Margin	88.16%	80.02%	64.07%	44.36%	34.02%	-11.30%
EBITDA	3,592	3,806	3,340	3,624	1,770	2,444
EBITDA Margin	65.57%	66.88%	60.85%	69.34%	53.22%	60.39%
D&A For EBITDA	677.16	703.67	577.9	1,279	1,265	1,241
EBIT	2,915	3,103	2,762	2,345	505.61	1,203
EBIT Margin	53.21%	54.52%	50.32%	44.86%	15.20%	29.73%
Effective Tax Rate	4.12%	3.60%	5.59%	8.39%	-	20.31%
Revenue as Reported	5,678	5,891	5,601	5,419	3,421	4,173

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.