Belle Income Statement

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

Millions PHP. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	5,170	5,686	5,465	5,209	3,302
Other Revenue	121.43	5.23	23.22	17.95	24.99
Revenue	5,291	5,691	5,488	5,227	3,327
Revenue Growth (YoY)	-7.02%	3.69%	5.01%	57.10%	-17.78%
Cost of Revenue	2,101	1,879	1,895	2,133	2,056
Gross Profit	3,190	3,812	3,593	3,094	1,271
Selling, General & Admin	688.48	728.42	770.35	766.55	685.95
Other Operating Expenses	-	-19.34	61.35	-17.83	79.82
Operating Expenses	688.48	709.08	831.7	748.72	765.77
Operating Income	2,502	3,103	2,762	2,345	505.61
Interest Expense	-653.77	-774.28	-536.97	-516.34	-603.83
Interest & Investment Income	116.97	166.12	74.3	29.13	30.26
Earnings From Equity Investments	-	-2.34	2.73	-0.42	-1.67
Currency Exchange Gain (Loss)	-0.12	0.2	-2.3	-1.66	0.75
Other Non Operating Income (Expenses)	82.1	23.55	18.98	11.03	308.91
EBT Excluding Unusual Items	2,047	2,516	2,318	1,867	240.02
Gain (Loss) on Sale of Investments	0.72	-0.06	200.62	-0.37	-23.62
Gain (Loss) on Sale of Assets	-	0.31	26.83	0.94	0.18
Other Unusual Items	-	-	20.82	-	-
Pretax Income	2,048	2,516	2,567	1,867	216.57
Income Tax Expense	-62.23	90.45	143.48	156.7	-528.63
Earnings From Continuing Operations	2,110	2,426	2,423	1,710	745.2
Minority Interest in Earnings	-13.99	-91.23	-539.63	-314.71	-168.22
Net Income	2,096	2,334	1,884	1,396	576.98
Net Income to Common	2,096	2,334	1,884	1,396	576.98
Net Income Growth	-10.21%	23.93%	34.95%	141.91%	-42.38%
Shares Outstanding (Basic)	9,442	9,444	9,444	9,444	9,445
Shares Outstanding (Diluted)	9,442	9,444	9,444	9,444	9,445
Shares Change (YoY)	-0.03%	-	-	-0.01%	0.01%
EPS (Basic)	0.22	0.25	0.20	0.15	0.06
EPS (Diluted)	0.22	0.25	0.20	0.15	0.06
EPS Growth	-10.18%	23.93%	34.95%	141.92%	-42.38%
Free Cash Flow	4,463	4,554	3,516	2,319	1,132
Free Cash Flow Per Share	0.47	0.48	0.37	0.25	0.12
Dividend Per Share	-	0.060	-	0.060	-
Gross Margin	60.29%	66.97%	65.47%	59.19%	38.21%
Operating Margin	47.28%	54.52%	50.32%	44.86%	15.20%
Profit Margin	39.61%	41.02%	34.32%	26.71%	17.34%
Free Cash Flow Margin	84.34%	80.02%	64.07%	44.36%	34.02%
EBITDA	4,040	3,806	3,340	3,624	1,770
EBITDA Margin	76.36%	66.88%	60.85%	69.34%	53.22%
D&A For EBITDA	1,538	703.67	577.9	1,279	1,265
EBIT	2,502	3,103	2,762	2,345	505.61
EBIT Margin	47.28%	54.52%	50.32%	44.86%	15.20%
Effective Tax Rate	-	3.60%	5.59%	8.39%	-
Revenue as Reported	5,291	5,891	5,601	5,419	3,421

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.