COVER SHEET - 2Go

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Stockholders’ Equity decreased by 24% to P3.9 billion from P5.2 billion as of December 31, 2009 mainly due to lower retained earnings brought about by the net loss for the period. Balance Sheet 24
Cashflow Statement Total capital expenditures reached P3.4 billion mainly because of vessel acquisitions and dry-docking of five vessels to ensure their future reliability. These expenditures were financed by long-term debt. Cash and cash equivalents at the end of the period stood at P764.2 million. Fiscal Year 2009 versus 2008 Consolidated Income Statement Aboitiz Transport System (ATS) ended the year 2009 with net income attributable to equity holders of parent of P546.1 million, a 559% improvement over just P82.8 million in 2008. Consolidated revenues increase P237 million, largely from the sale of goods and service fees. In September 2009, ATS lost a ship and the Maritime Industry Authority thereafter temporarily suspended the remainder of its fleet. This greatly affected freight and passenger business. All vessels ultimately passed the Maritime Industry Authority’s audit and inspection and were cleared for sailing shortly after the suspension. All ATS vessels, their cargo and passengers are fully insured to the extent mandated by law. Devastating typhoons, affecting overall operations although ATS responded with speed and resources, also plagued the last quarter of 2009. Local freight business contributed P5.2 billon in 2009, an 8% or P148 million decrease from the same period in 2008. Passenger business, inclusive of auxiliary revenues, reduced by P343 million or 13% to register at P2.2 billion revenues from P2.6 billion in 2008. On the other hand, ATS’ overall value added business, inclusive of supply chain, jumped P709 million to reach P2.5 billion in 2009. ATS continues to build on this business with bright industry prospects. Fuel costs and charter hire costs dropped in 2009 leading to a P353 million decline in operating expenses and 48% improvement in earnings before interest, taxes, depreciation and amortization (EBITDA) to register at P1.4 billion in 2009. Earnings Per Share Earnings Per Share is computed by dividing Net Income Attributable to Equity Holders of the Parent over weighted average number of common shares outstanding for the year. Earnings per share for 2009 stood at P0.22/share. This is higher versus 2008 because of higher net income. Consolidated Balance Sheet and Cash Flow Statement On April 30, 2009, the principal stockholders of ATS namely, Aboitiz Equity Ventures and Aboitiz and Company, received a firm and final advice from KGLI-NM Holdings, Inc., that the proposed acquisition of ATS shares will no longer proceed based on the terms agreed upon in the Memorandum of Agreement signed on September 23, 2008. ATS and Negros Navigation however, agreed to continue to explore service and process improvements for better margins and cost benefits to both companies. As of December 31, 2009, consolidated assets of ATS amounted to P10.6 billion, posting a 13% increase from December 31, 2008 of P9.4 billion. Total current assets reflected a 15% increase from P4.2 billion to P4.8 billion as of December 31, 2009. The increase was mainly attributed to higher Non-trade receivables by P266.6 million directly related to the SuperFerry 9 incident and higher Inventories such as materials, parts and supplies by P164.8 million. 25
Page 1 and 2: COVER SHEET 4 4 0 9 SEC Registratio
Page 3 and 4: Dear Stockholder: ABOITIZ TRANSPORT
Page 5 and 6: INFORMATION STATEMENT (SEC FORM 20-
Page 7 and 8: Section 6 of the Corporation Code w
Page 9 and 10: Voting trust holders of 5% or More
Page 11 and 12: ehabilitation proceedings under the
Page 13 and 14: new composition of the Company’s
Page 15 and 16: Committee and Risk Management Commi
Page 17 and 18: C. OTHER MATTERS Item 8. MERGERS, C
Page 19 and 20: viii. approval for treasury matters
Page 21 and 22: SIGNATURE PAGE After reasonable inq
Page 23 and 24: Consolidated Aboitiz One, Inc and S
Page 25 and 26: docking costs of vessels are being
Page 27: The figures above are in P’MM exc
Page 31 and 32: Passage business reduced by P41.1 m
Page 33 and 34: iii. iv. All significant elements o
Page 35 and 36: Kerry - Aboitiz Logistics Inc. (KAL
Page 37 and 38: 19. Iker Aboitiz 20. Francisco Bene
Page 39 and 40: This committee is likewise is respo
Page 41 and 42: Total compensation paid/accrued for
Page 43 and 44: Under the new management, there is
Page 45 and 46: Passage and Shipmanagement. It is a
Page 47 and 48: Noteworthy, in compliance with corp

COVER SHEET - 2Go

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