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AGI deconsolidates McDonald's PH
Manila Bulletin
|May 17, 2025
Alliance Global Group Inc. (AGI), the holding company of tycoon Dr. Andrew L. Tan, has deconsolidated McDonald's Philippines franchisee Golden Arches Development Corp. (GADC) from its financial statements to generate a one-time gain of P3.4 billion from the remeasurement of the investment's fair value.
GADC, where AGI retains its 49-percent interest, is now treated as an associate after securing a new license term from McDonald's Corp. recently.
It was consolidated line-by-line up to March 16, 2025, and deconsolidated effective March 17, 2025, when AGI consequently accounted for its interest in GADC using the equity method and took up a P69.2-million share in GADC's net profit from March 17 to March 31, 2025.
Because of this, AGI started the year with a hefty 66-percent year-on-year increase in first-quarter 2025 consolidated net income to P11 billion.
Netting out such gains, AGI still posted a robust 14-percent growth in normalized net income to P7.5 billion from the year-ago level of P6.6 billion. Normalized attributable net income also grew by 18 percent year-on-year to P5 billion.
Meanwhile, consolidated revenues amounted to 51.9 billion, an increase of three percent from its year-ago level of 250.6 billion.
Cette histoire est tirée de l'édition May 17, 2025 de Manila Bulletin.
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