Grand Canal Land PCL Income Statement

Financials in millions THB. Fiscal year is January - December.

Millions THB. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	1,552	1,610	1,552	1,515	1,555
Other Revenue	14.26	15.68	10.01	24.39	12.81
Revenue	1,566	1,625	1,562	1,539	1,568
Revenue Growth (YoY)	-3.67%	4.04%	1.52%	-1.86%	5.63%
Cost of Revenue	355.39	419.92	408.84	383.65	328.35
Gross Profit	1,210	1,205	1,154	1,155	1,240
Selling, General & Admin	293.88	326.97	305.69	298.35	307.39
Operating Expenses	293.91	326.52	305.96	293.35	310.46
Operating Income	916.49	878.98	847.55	861.98	929.34
Interest Expense	-194.83	-230.42	-209.98	-140.64	-156.9
Interest & Investment Income	109.99	120.56	100.95	76.49	84.8
Earnings From Equity Investments	1.98	1.62	1.32	0.79	6.01
EBT Excluding Unusual Items	833.63	770.74	739.83	798.63	863.25
Asset Writedown	-219.49	-161.89	-160.34	152.37	-66.23
Pretax Income	614.14	608.85	579.49	951	797.02
Income Tax Expense	152.01	152.89	144.82	197.15	170.32
Earnings From Continuing Operations	462.12	455.96	434.67	753.84	626.7
Minority Interest in Earnings	-27.98	-34.96	-16.7	-40.13	-52.88
Net Income	434.15	420.99	417.97	713.71	573.82
Net Income to Common	434.15	420.99	417.97	713.71	573.82
Net Income Growth	3.13%	0.73%	-41.44%	24.38%	-19.85%
Shares Outstanding (Basic)	6,500	6,500	6,500	6,500	6,500
Shares Outstanding (Diluted)	6,500	6,500	6,500	6,500	6,500
EPS (Basic)	0.07	0.06	0.06	0.11	0.09
EPS (Diluted)	0.07	0.06	0.06	0.11	0.09
EPS Growth	3.13%	0.73%	-41.44%	24.38%	-19.85%
Free Cash Flow	656.87	680.13	587.81	452.27	580.3
Free Cash Flow Per Share	0.10	0.10	0.09	0.07	0.09
Dividend Per Share	0.025	0.025	0.025	-	-
Gross Margin	77.30%	74.17%	73.83%	75.07%	79.06%
Operating Margin	58.53%	54.08%	54.25%	56.01%	59.26%
Profit Margin	27.73%	25.90%	26.75%	46.38%	36.59%
Free Cash Flow Margin	41.95%	41.84%	37.62%	29.39%	37.00%
EBITDA	924.94	888.6	857.61	872.13	939.23
EBITDA Margin	59.07%	54.67%	54.89%	56.67%	59.89%
D&A For EBITDA	8.45	9.62	10.06	10.15	9.88
EBIT	916.49	878.98	847.55	861.98	929.34
EBIT Margin	58.53%	54.08%	54.25%	56.01%	59.26%
Effective Tax Rate	24.75%	25.11%	24.99%	20.73%	21.37%
Revenue as Reported	1,676	1,746	1,663	1,768	1,653
Advertising Expenses	16	28	23	22	23

Source: S&P Global Market Intelligence. Standard template. Financial Sources.