COVER SHEET - 2Go

Consolidated Aboitiz One, Inc and Subsidiaries
Dec. 31, 2010 Dec. 31, 2009 Dec. 31, 2008
Revenues 4,770 3,876 2,987
EBITDA (a) 317 210 219
IBT (b) 216 191 139
Debt-to-Equity Ratio (c) 3.34:1.00 4.0:1.0 3.9:1.0
Current Ratio (d) 0.9:1.00 0.9:1.0 0.9:1.0
Supercat Fast Ferry Corporation
Dec. 31, 2010 Dec. 31, 2009 Dec. 31, 2008
Revenues 599 443 377
EBITDA (a) 219 147 42
IBT (b) 27 79 (19)
Debt-to-Equity Ratio (c) 2.3:1.00 4.9:1.0 11.7:1.0
Current Ratio (d) 0.1:1.0 0.1:1.00 0.1:1.0
MCC Transport Philippines, Inc.
Dec. 31, 2010 Dec. 31, 2009 Dec. 31, 2008
Revenues 1050 966 863
EBITDA (a) 126 197 (132)
IBT (b) 137 195 (131)
Debt-to-Equity Ratio (c) 2.20:1.00 6.34:1.00 -6.81:1.00
Current Ratio (d) 1.46:1.00 1.18:1.00 0.87:1.00
a) Earnings before interest, taxes, depreciation and amortization (calculated by adding back
interest expense and amortization and depreciation into income before income tax, excluding
extraordinary gains and losses).
b) Income before income tax
c) Total liabilities / total stockholders’ equity
d) Total current assets / total current liabilities
Quarter Ended March 31, 2011
Consolidated Income Statement
ATS’ first quarter 2011 revenues reached P3.0 billion. Total revenues reflects a 3% decline versus last
year since 2010 still includes the Aboitiz Jebsen Group of Companies, including international ship
chartering , shipmanagement and crewing businesses.
In December 2010, ATS then principal shareholders, Aboitiz Equity Ventures, Inc. (AEV) and Aboitiz and
Company (ACO), sold their combined shareholdings of 93.2% in ATS to Negros Navigation (NENACO)
for a price of P1.8813 per share or a total of P4.3 billion. The sale however excluded the Aboitiz Jebsen
group of companies. The Company sold its 62.5% equity stake in each of Aboitiz Jebsen Bulk
Transport Corporation, Aboitiz Jebsen Manpower Solutions, Inc. and Jebsen Maritime Inc. to AEV for a
total price of P 355.9 million. .It also sold its 50% equity stake in Jebsen Management (BVI) Limited to
AEV for P 44.0 million. Buyers AEV and ACO paid the full price last January 2011.
Local freight business of ATS reflected a 6% increase versus last year as both volumes and freight
rates were higher. Similarly, passage business increased 7%. ATS has all 18 vessels operating during
the quarter. Last year, three of the Company’s large SuperFerry vessels were under maintenance and
drydocking, limiting its operating capacity.
Supply chain business continues to grow with revenues from the sale of goods generated by the
trading business posting a 32% increase due to a rise in number of principals.
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