COVER SHEET - 2Go

The figures above are in P’MM except otherwise indicated
Consolidated Balance Sheet and Cash Flow Statement
As of December 31, 2010, consolidated assets of ATS amounted to P12.4 billion, posting a 17%
increase from December 31, 2009 of P10.6 billion. Property plant & equipment registered a 27%
increase from 4.8 billion to 6.1 billion from the acquisition of three ropax vessels and higher vessel
refurbishments & improvements. Assets of the company were being re-fleeted and modernized to
increase operating efficiencies. Higher deferred income taxes from 256 million to 717 million also
contributed to the increase in overall assets or 181% and higher other non-current assets from 263
million to 390 million or 48%.
Total current assets reflected a 2% decrease from P4.8 billion to P4.7 billion as of December 31, 2010.
The decrease was mainly attributed to lower cash and cash equivalents from 1.1 billion to 764 million.
The P332M decrease was offset by higher freight receivables and non-trade receivables relating to the
sale of the Aboitiz Jebsen group of companies. Receivables from service fees and insurance and other
claims however reflected a decrease as of the period.
Total liabilities amounted to P8.5 billion, a 55% increase from 2009. Total interest bearing loans stood
at P4.1 billion. This is inclusive of the P2 billion five-year corporate fixed rate note facility issued last
May to finance vessel acquisitions and maintenance. Trade and other payables also registered higher
than last year bought about by higher accrued expenses and dividends payable. ATS declared special
cash dividends equivalent to P0.15 per share to all stockholders on record as of December 15, 2010.
The special cash dividend represents the sales proceeds of the Aboitiz Jebsen companies, net of taxes
and other related costs. The dividend payment was made on January 12, 2011.
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