Master Style 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	1,885	2,135	1,917	1,483	659.51
Other Revenue	14.46	21.45	26.83	7.46	30.47
Revenue	1,899	2,157	1,944	1,490	689.98
Revenue Growth (YoY)	-11.93%	10.96%	30.44%	115.96%	13.15%
Cost of Revenue	868.56	855.48	784.87	641.25	311.65
Gross Profit	1,031	1,301	1,159	848.8	378.33
Selling, General & Admin	756.5	702.23	633.92	462.82	167.13
Operating Expenses	756.5	702.23	633.92	462.82	167.13
Operating Income	274.21	598.81	524.8	385.99	211.2
Interest Expense	-29.29	-18.46	-13.88	-9.12	-6.92
Interest & Investment Income	4.38	6.13	5.34	0.31	0.18
Earnings From Equity Investments	24.77	36.61	4.77	-	-
EBT Excluding Unusual Items	274.08	623.09	521.03	377.17	204.47
Gain (Loss) on Sale of Investments	-26	-	-	-	-
Pretax Income	248.08	623.09	521.03	377.17	204.47
Income Tax Expense	50.08	115.35	104.73	76.25	41.67
Earnings From Continuing Operations	198	507.75	416.3	300.92	162.8
Net Income	198	507.75	416.3	300.92	162.8
Net Income to Common	198	507.75	416.3	300.92	162.8
Net Income Growth	-61.00%	21.97%	38.34%	84.84%	27.65%
Shares Outstanding (Basic)	302	302	299	222	127
Shares Outstanding (Diluted)	302	302	299	222	127
Shares Change (YoY)	-0.17%	1.04%	35.02%	74.48%	18.62%
EPS (Basic)	0.66	1.68	1.39	1.36	1.28
EPS (Diluted)	0.66	1.68	1.39	1.36	1.28
EPS Growth	-60.94%	20.71%	2.46%	5.94%	7.62%
Free Cash Flow	251.32	49.62	-282.68	185.95	206.9
Free Cash Flow Per Share	0.83	0.16	-0.94	0.84	1.63
Dividend Per Share	0.400	0.800	0.022	0.239	1.193
Dividend Growth	-50.00%	3503.60%	-90.70%	-80.00%	49.99%
Gross Margin	54.27%	60.33%	59.62%	56.96%	54.83%
Operating Margin	14.44%	27.77%	27.00%	25.90%	30.61%
Profit Margin	10.42%	23.54%	21.42%	20.20%	23.59%
Free Cash Flow Margin	13.23%	2.30%	-14.54%	12.48%	29.99%
EBITDA	419.12	714	574.55	409.95	231.04
EBITDA Margin	22.07%	33.11%	29.56%	27.51%	33.48%
D&A For EBITDA	144.91	115.19	49.75	23.97	19.83
EBIT	274.21	598.81	524.8	385.99	211.2
EBIT Margin	14.44%	27.77%	27.00%	25.90%	30.61%
Effective Tax Rate	20.19%	18.51%	20.10%	20.22%	20.38%
Revenue as Reported	1,899	2,157	1,944	1,490	689.98

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