SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-A, AS AMENDED
ANNUAL REPORT PURSUANT TO SECTION 17 OF THE SECURITIES REGULATION CODE AND SECTION 141 OF THE CORPORATION CODE OF THE PHILIPPINES
1. For the fiscal year ended
Dec 31, 2020
2. SEC Identification Number
14782
3. BIR Tax Identification No.
000-128-846-000
4. Exact name of issuer as specified in its charter
Liberty Flour Mills, Inc.
5. Province, country or other jurisdiction of incorporation or organization
Makati City, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
Liberty Building, 835 A. Arnaiz Avenue, Makati CityPostal Code1223
8. Issuer's telephone number, including area code
02 8892-5011
9. Former name or former address, and former fiscal year, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class
Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common
150,000,000
11. Are any or all of registrant's securities listed on a Stock Exchange?
Yes
No
If yes, state the name of such stock exchange and the classes of securities listed therein:
Philippine Stock Exchange - Common Shares
12. Check whether the issuer:
(a) has filed all reports required to be filed by Section 17 of the SRC and SRC Rule 17.1 thereunder or Section 11 of the RSA and RSA Rule 11(a)-1 thereunder, and Sections 26 and 141 of The Corporation Code of the Philippines during the preceding twelve (12) months (or for such shorter period that the registrant was required to file such reports)
Yes
No
(b) has been subject to such filing requirements for the past ninety (90) days
Yes
No
13. State the aggregate market value of the voting stock held by non-affiliates of the registrant. The aggregate market value shall be computed by reference to the price at which the stock was sold, or the average bid and asked prices of such stock, as of a specified date within sixty (60) days prior to the date of filing. If a determination as to whether a particular person or entity is an affiliate cannot be made without involving unreasonable effort and expense, the aggregate market value of the common stock held by non-affiliates may be calculated on the basis of assumptions reasonable under the circumstances, provided the assumptions are set forth in this Form
N/A
APPLICABLE ONLY TO ISSUERS INVOLVED IN INSOLVENCY SUSPENSION OF PAYMENTS PROCEEDINGS DURING THE PRECEDING FIVE YEARS
14. Check whether the issuer has filed all documents and reports required to be filed by Section 17 of the Code subsequent to the distribution of securities under a plan confirmed by a court or the Commission.
Yes
No
DOCUMENTS INCORPORATED BY REFERENCE
15. If any of the following documents are incorporated by reference, briefly describe them and identify the part of SEC Form 17-A into which the document is incorporated:
(a) Any annual report to security holders
N/A
(b) Any information statement filed pursuant to SRC Rule 20
N/A
(c) Any prospectus filed pursuant to SRC Rule 8.1
N/A
The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.
Liberty Flour Mills, Inc.LFM
PSE Disclosure Form 17-1 - Annual Report References: SRC Rule 17 and Section 17.2 and 17.8 of the Revised Disclosure Rules
For the fiscal year ended
Dec 31, 2020
Currency
Php
Balance Sheet
Year Ending
Previous Year Ending
Dec 31, 2020
Dec 31, 2019
Current Assets
1,527,946,457
1,184,624,977
Total Assets
4,128,361,733
3,702,383,837
Current Liabilities
1,096,079,227
858,269,676
Total Liabilities
1,293,311,177
1,000,097,289
Retained Earnings/(Deficit)
1,399,723,332
1,282,298,227
Stockholders' Equity
2,835,050,556
2,702,286,548
Stockholders' Equity - Parent
2,594,379,913
2,663,249,165
Book Value Per Share
18.9
18.02
Income Statement
Year Ending
Previous Year Ending
Dec 31, 2020
Dec 31, 2019
Gross Revenue
327,468,596
249,074,889
Gross Expense
172,275,871
178,123,174
Non-Operating Income
125,520,822
86,171,704
Non-Operating Expense
38,474,760
58,114,614
Income/(Loss) Before Tax
242,238,787
99,008,805
Income Tax Expense
49,813,682
13,847,949
Net Income/(Loss) After Tax
192,425,105
85,160,856
Net Income/(Loss) Attributable to Parent Equity Holder
192,425,105
85,160,856
Earnings/(Loss) Per Share (Basic)
1.28
0.57
Earnings/(Loss) Per Share (Diluted)
1.28
0.57
Financial Ratios
Formula
Fiscal Year Ended
Previous Fiscal Year
Dec 31, 2020
Dec 31, 2019
Liquidity Analysis Ratios:
Current Ratio or Working Capital Ratio
Current Assets / Current Liabilities
1.39
1.38
Quick Ratio
(Current Assets - Inventory - Prepayments) / Current Liabilities
1.02
1.09
Solvency Ratio
Total Assets / Total Liabilities
3.19
3.7
Financial Leverage Ratios
Debt Ratio
Total Debt/Total Assets
0.31
0.27
Debt-to-Equity Ratio
Total Debt/Total Stockholders' Equity
0.46
0.37
Interest Coverage
Earnings Before Interest and Taxes (EBIT) / Interest Charges
7.28
2.86
Asset to Equity Ratio
Total Assets / Total Stockholders' Equity
1.46
1.37
Profitability Ratios
Gross Profit Margin
Sales - Cost of Goods Sold or Cost of Service / Sales
0.24
0.26
Net Profit Margin
Net Profit / Sales
0.14
0.09
Return on Assets
Net Income / Total Assets
0.05
0.02
Return on Equity
Net Income / Total Stockholders' Equity
0.07
0.03
Price/Earnings Ratio
Price Per Share / Earnings Per Common Share
30.09
73.36
Other Relevant Information
The BOD during its meeting last June 30, 2020 approved the declaration of cash dividend 5.0% or Fifty Centavos (P0.50) per share to stockholders of record as of July 14, 2020 with payable date of July 28, 2020.
On November 25, 2020, the Parent Company’s BOD approved the declaration of property dividends in the form of 10.35 billion common shares of LPC (with a par value of P=0.01 per share), with an entitlement ratio of sixty-nine (69) shares of LPC for every one (1) share of the Parent Company, to eligible stockholders of the Parent Company as of record date of December 18, 2020. As at March 24, 2021, the property dividends have not yet been distributed to the Parent Company’s shareholders, subject to the application and eventual approval of the SEC.