Max's Group 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	11,966	12,173	11,966	10,983	7,640
Revenue Growth (YoY)	-1.70%	1.73%	8.95%	43.76%	6.94%
Cost of Revenue	8,288	8,464	8,061	7,214	5,309
Gross Profit	3,678	3,710	3,905	3,770	2,331
Selling, General & Admin	2,822	2,800	2,929	2,603	2,328
Other Operating Expenses	106.4	108.83	88.07	88.65	46.04
Operating Expenses	2,929	2,909	3,017	2,691	2,374
Operating Income	749.02	801.03	888.21	1,078	-43.93
Interest Expense	-307.45	-291.29	-318.31	-288.78	-274.95
Interest & Investment Income	1.68	7.85	2.62	1.32	0.42
Other Non Operating Income (Expenses)	68.13	70.09	94.75	20.6	92.49
EBT Excluding Unusual Items	511.38	587.68	667.27	811.41	-225.97
Gain (Loss) on Sale of Investments	-	-	25.62	-	-
Gain (Loss) on Sale of Assets	-18.16	-22.46	19.51	-30.28	439.15
Asset Writedown	-	-	-	-41.06	-
Other Unusual Items	9.12	4.91	3.49	114.97	321.55
Pretax Income	502.34	570.13	715.88	855.04	534.72
Income Tax Expense	139.59	151.3	229.89	233.33	83.74
Earnings From Continuing Operations	362.75	418.83	485.99	621.71	450.98
Minority Interest in Earnings	1.78	-0.32	-0.18	-3.58	-0.88
Net Income	364.52	418.51	485.82	618.12	450.11
Net Income to Common	364.52	418.51	485.82	618.12	450.11
Net Income Growth	-12.90%	-13.85%	-21.40%	37.33%	-
Shares Outstanding (Basic)	780	780	779	779	779
Shares Outstanding (Diluted)	780	780	779	779	779
Shares Change (YoY)	-	0.13%	-0.11%	-	-
EPS (Basic)	0.47	0.54	0.62	0.79	0.58
EPS (Diluted)	0.47	0.54	0.62	0.79	0.58
EPS Growth	-12.90%	-13.96%	-21.32%	37.33%	-
Free Cash Flow	676.24	429.72	720.47	1,074	493.45
Free Cash Flow Per Share	0.87	0.55	0.93	1.38	0.63
Dividend Per Share	0.122	0.141	0.169	0.193	-
Dividend Growth	-13.01%	-16.60%	-12.51%	-	-
Gross Margin	30.73%	30.47%	32.64%	34.32%	30.50%
Operating Margin	6.26%	6.58%	7.42%	9.82%	-0.57%
Profit Margin	3.05%	3.44%	4.06%	5.63%	5.89%
Free Cash Flow Margin	5.65%	3.53%	6.02%	9.78%	6.46%
EBITDA	1,173	1,271	1,322	1,494	368.16
EBITDA Margin	9.80%	10.44%	11.05%	13.60%	4.82%
D&A For EBITDA	423.66	469.54	433.93	415.4	412.08
EBIT	749.02	801.03	888.21	1,078	-43.93
EBIT Margin	6.26%	6.58%	7.42%	9.82%	-0.57%
Effective Tax Rate	27.79%	26.54%	32.11%	27.29%	15.66%
Revenue as Reported	11,966	12,173	11,966	10,983	7,640

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