Italpinas Development 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
Revenue	784.68	600.26	299.11	190.78	186.13
Revenue Growth (YoY)	30.72%	100.68%	56.79%	2.50%	-19.66%
Cost of Revenue	398.52	317.25	138.25	91.98	80.25
Gross Profit	386.16	283.01	160.86	98.8	105.88
Selling, General & Admin	174.61	85.14	102.12	86.37	94.07
Other Operating Expenses	-200.68	0.97	14.04	-25.88	6.53
Operating Expenses	-26.07	90.48	120.33	65.86	106.29
Operating Income	412.23	192.53	40.53	32.94	-0.41
Interest Expense	-72.39	-40.62	-51.29	-16.96	-23.7
Interest & Investment Income	-	1.42	0.53	0.49	0.04
Earnings From Equity Investments	-2.12	2.4	-1.39	-1.13	-1.21
Other Non Operating Income (Expenses)	2.45	-0.28	-1.16	-4.35	-4.44
EBT Excluding Unusual Items	340.17	155.44	-12.78	11	-29.71
Gain (Loss) on Sale of Assets	-	3.06	13.72	47.76	-18.24
Asset Writedown	-	342.93	236.27	101.79	165.77
Pretax Income	340.17	501.43	237.21	160.54	117.82
Income Tax Expense	89.3	124.66	50.95	41.66	1.39
Net Income	250.87	376.77	186.26	118.89	116.43
Net Income to Common	250.87	376.77	186.26	118.89	116.43
Net Income Growth	-33.41%	102.28%	56.67%	2.11%	8.84%
Shares Outstanding (Basic)	717	640	630	630	630
Shares Outstanding (Diluted)	717	640	630	630	630
Shares Change (YoY)	12.01%	1.64%	-	-	45.00%
EPS (Basic)	0.35	0.59	0.30	0.19	0.18
EPS (Diluted)	0.35	0.59	0.30	0.19	0.18
EPS Growth	-40.56%	99.02%	56.67%	4.91%	-26.94%
Free Cash Flow	-145.26	78.9	-153.05	56.22	-40.84
Free Cash Flow Per Share	-0.20	0.12	-0.24	0.09	-0.07
Gross Margin	49.21%	47.15%	53.78%	51.79%	56.88%
Operating Margin	52.53%	32.07%	13.55%	17.27%	-0.22%
Profit Margin	31.97%	62.77%	62.27%	62.32%	62.56%
Free Cash Flow Margin	-18.51%	13.14%	-51.17%	29.47%	-21.94%
EBITDA	418.35	197.06	43.07	36.65	3.2
EBITDA Margin	53.31%	32.83%	14.40%	19.21%	1.72%
D&A For EBITDA	6.12	4.53	2.54	3.71	3.61
EBIT	412.23	192.53	40.53	32.94	-0.41
EBIT Margin	52.53%	32.07%	13.55%	17.27%	-0.22%
Effective Tax Rate	26.25%	24.86%	21.48%	25.95%	1.18%
Advertising Expenses	-	3.16	7.03	9.4	3.71

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