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February 06, 2013

Roxas Holdings posts Q1 net income of P34M


Roxas Holdings, Inc. (RHI) reported a net income of P34 million for the first quarter ending Dec. 31, 2012
versus a net loss of P32 million for the same period last year.

RHI Chairman Pedro E. Roxas said the turnaround was due to lower operating and financing expenses
during the period.
 
“Revenues were much higher for the same period last year at P1.9 billion because we had to export our
raw sugar inventory at cost to pay down our short- term loans,” Mr. Roxas said.
 
Mr. Roxas also noted that the first quarter of the crop year is typically a slow period for the industry as
cane deliveries and sugar recovery are just starting to scale up.
 
RHI President & CEO Renato C. Valencia said the Group is confident that revenues will pick up in the
second and third quarters of the crop year.
 
Mr. Valencia reported that, as a matter of fact, revenues picked up from P644 million to P1.5 billion as
of end-January.


Roxas Holdings, Inc. (RHI), a bio-sugar and bio-energy company, is the largest integrated sugar business in the Philippines. It manages sugar miller/refiner Central Azucarera Don Pedro, Inc. in Nasugbu, Batangas; sugar miller Central Azucarera de la Carlota, Inc.; ethanol producers Roxol Bioenergy Corporation in La Carlota, Negros Occidental and San Carlos Bioenergy, Inc. in San Carlos, Negros Occidental; and RHI Agri-business Development Corporation. It also holds 45% of affiliate Hawaiian-Philippine Company in Silay, Negros Occidental.

RHI is listed on the Philippine Stock Exchange (PSEi: ROX). Further information can be obtained by visiting the web at www.roxasholdings.com.ph