Filinvest Land, Inc. • 2010 Annual Report COVER STORY
1 Filinvest Land, Inc. • 2010 Annual Report COVER STORY DREAM BUILDER. Filinvest Land, Inc. (FLI) continues to grow and diversify as it carries out its mission of building Filipino dreams. Amidst a resurgent economy and a booming real estate sector, FLI goes into aggressive expansion mode in 2011. With innovative products such as its Oasis series of medium-rise condo communities, FLI will remain at the forefront of the real estate industry in providing quality and affordable housing for the average Filipino family. Contents Financial Highlights 1 Mission and Corporate Values 2 Message of the Chairman 3 Message of the President and CEO 4 Operational Highlights 8 Corporate Social Responsibility 21 Corporate Governance Report 24 Board of Directors & Senior Management 36 Consolidated Financial Statements 37 Map of Projects 42 1 Filinvest Land, Inc. • 2010 Annual Report FILINVEST LAND, INC. AND SUBSIDIARIES FINANCIAL HIGHLIGHTS (Amounts in Thousands of Pesos, Except Per Share Data) 2007 2008 2009 2010 OPERATING RESULTS Revenues 5,130,965 5,304,812 5,683,813 8,722,010 Net Income 1,704,393 1,867,001 2,018,200 2,952,226 Return on Assets (avg) 4% 4% 4% 5% Return on Equity (avg) 5% 5% 5% 7% FINANCIAL POSITION Total Assets 46,469,905 53,190,895 58,915,225 61,866,737 Total Long-term Debt 3,515,864 6,972,300 11,330,438 10,257,741 Stockholders’ Equity 36,799,272 37,959,515 39,177,473 41,691,251 No. of Shares Issued and Outstanding (000’s) 24,470,708 24,249,759 24,249,759 24,249,759 Debt to Equity * 10% 18% 29% 25% Net Debt to Equity ** 5% 12% 14% 20%
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