Figaro Coffee : Quarterly Report

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-Q QUARTERLY REPORT PURSUANT TO SECTION 17 OF THE SECURITIES
REGULATION CODE AND SRC RULE 17(2)(b) THEREUNDER 1. For the quarterly period ended Dec 31, 20212. SEC Identification Number CS2018111193. BIR Tax Identification No. 010-061-026-0004. Exact name of issuer as specified in its charter FIGARO COFFEE GROUP, INC.5. Province, country or other jurisdiction of incorporation or organization PHILIPPINES6. Industry Classification Code(SEC Use Only) 7. Address of principal office 116 EAST MAIN AVE., PHASE V - SEZ, LAGUNA TECHNOPARK, BINAN, LAGUNAPostal Code40348. Issuer's telephone number, including area code (632) 8812-17189. Former name or former address, and former fiscal year, if changed since last report N/A10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares	4,648,187,003

11. Are any or all of registrant's securities listed on a Stock Exchange? Yes No If yes, state the name of such stock exchange and the classes of securities listed therein: PHILIPPINE STOCK EXCHANGE12. Indicate by check mark whether the registrant:

(a) has filed all reports required to be filed by Section 17 of the SRC and SRC Rule 17 thereunder or Sections 11 of the RSA and RSA Rule 11(a)-1 thereunder, and Sections 26 and 141 of the Corporation Code of the Philippines, during the preceding twelve (12) months (or for such shorter period that the registrant was required to file such reports)

Yes No (b) has been subject to such filing requirements for the past ninety (90) days Yes No

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Figaro Coffee Group, Inc.FCG PSE Disclosure Form 17-2 - Quarterly Report References: SRC Rule 17 and
Sections 17.2 and 17.8 of the Revised Disclosure Rules

For the period ended	Dec 31, 2021
Currency (indicate units, if applicable)	Philippine Peso

Balance Sheet

Period Ended	Fiscal Year Ended (Audited)
Dec 31, 2021	Jun 30, 2021
Current Assets	512,474,611	497,675,012
Total Assets	1,157,974,864	1,006,642,355
Current Liabilities	363,074,020	433,670,917
Total Liabilities	388,368,762	456,659,163
Retained Earnings/(Deficit)	220,167,602	40,544,692
Stockholders' Equity	769,606,102	549,983,192
Stockholders' Equity - Parent	-	-
Book Value per Share	0.21	0.17

Income Statement

Current Year (3 Months)	Previous Year (3 Months)	Current Year-To-Date	Previous Year-To-Date
Gross Revenue	596,930,720	290,465,525	1,085,121,878	473,379,674
Gross Expense	453,941,716	219,166,202	845,624,665	370,728,363
Non-Operating Income	-	-	-	-
Non-Operating Expense	-	-	-	-
Income/(Loss) Before Tax	142,989,004	71,299,323	239,497,213	102,651,311
Income Tax Expense	35,747,251	17,824,831	59,874,303	25,662,828
Net Income/(Loss) After Tax	107,241,753	53,474,492	179,622,910	76,988,483
Net Income Attributable to Parent Equity Holder	107,241,753	53,474,492	179,622,910	76,988,483
Earnings/(Loss) Per Share (Basic)	0.03	0.57	0.05	0.82
Earnings/(Loss) Per Share (Diluted)	0.03	0.57	0.05	0.82

Current Year (Trailing 12 months)	Previous Year (Trailing 12 months)
Earnings/(Loss) Per Share (Basic)	0.09	1.2
Earnings/(Loss) Per Share (Diluted)	0.09	1.2

Other Relevant Information

BUSINESS COMBINATION In relation to the attached SEC Form 17-Q for the quarterly period ended December 31, 2021 of FCG, particularly on the Interim Consolidated Statements of Comprehensive Income which shows, among others, the Unaudited Proforma results for the periods July 1 to December 31, 2020, October 1 to December 31, 2020, and January 1 to June 30, 2021, please note that a Business Combination transpired on June 21, 2021 with the acquisition by FCG, the Parent Company, of all the shares in Figaro Coffee Systems Inc. (FCSI), the operating subsidiary, that was held by FCoffee Holdings, Inc. (FCH) prior to the said Business Combination. FCH is a wholly-owned subsidiary of Carmetheus Holdings, Inc. which owns approximately 8% of FCG's issued and outstanding capital stock. On June 21, 2021, FCH, the 'Seller' agreed to sell and FCG, the 'Buyer' agreed to buy, all the seller's rights, title and interests to a total of 2,500 common shares with a par value of P50.00 per share or an aggregate par value of P125,000 of FCSI for and in consideration of P1,851.0256 per share or total purchase price of P4,627,564. The difference between the consideration paid and the fair value of the interest acquired in FCSI was recognized as goodwill amounting to P4,502,564. As a result, FCSI became a wholly-owned subsidiary of FCG. The Business Combination was undertaken as an integral part of FCG's Initial Public Offering. For the purpose of the unaudited pro-forma consolidated statements of comprehensive income, the Business Combination is assumed to have occurred on the relevant periods presented. Please see Note 20 of the Notes to the Financial Statements for further details on the Business Combination. Please also refer to FCG's IPO Prospectus dated December 22, 2021 for the pertinent details of the IPO, including the said Business Combination.

Filed on behalf by:

Name	Jose Petronio Vicente III Español
Designation	Treasurer, Chief Finance Officer, Chief Risk Officer