Major Development 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	1,984	2,362	2,164	2,760	4,298
Other Revenue	41.83	97.04	53.34	87.07	106.35
Revenue	2,026	2,459	2,217	2,847	4,404
Revenue Growth (YoY)	-17.60%	10.92%	-22.14%	-35.35%	-39.95%
Cost of Revenue	1,380	1,614	1,405	1,959	2,912
Gross Profit	646.51	845.18	811.61	888.27	1,492
Selling, General & Admin	593.9	806.12	896.5	1,058	1,290
Operating Expenses	607.8	812.5	896.5	1,058	1,290
Operating Income	38.71	32.68	-84.89	-169.58	202.29
Interest Expense	-685.17	-400.81	-427	-504.31	-587.29
Interest & Investment Income	45.01	35.9	42.79	43.27	37.84
Earnings From Equity Investments	-75.22	4.12	106.81	147.53	6.08
Other Non Operating Income (Expenses)	-826.55	-	-	-	-0
EBT Excluding Unusual Items	-1,503	-328.11	-362.28	-483.09	-341.08
Gain (Loss) on Sale of Investments	-5.32	-	-	-	-
Gain (Loss) on Sale of Assets	-72.11	-5.97	-	-	-
Asset Writedown	-287.84	65.71	19.96	134.48	39.12
Legal Settlements	-4.32	-28.41	-26.75	-	-
Pretax Income	-1,873	-296.77	-369.08	-348.61	-301.96
Income Tax Expense	237.95	3.19	-38.96	21.79	51.3
Earnings From Continuing Operations	-2,111	-299.96	-330.12	-370.4	-353.26
Minority Interest in Earnings	0.84	1.05	0.81	0.49	0.19
Net Income	-2,110	-298.91	-329.32	-369.91	-353.07
Net Income to Common	-2,110	-298.91	-329.32	-369.91	-353.07
Shares Outstanding (Basic)	860	860	860	860	860
Shares Outstanding (Diluted)	860	860	860	860	860
EPS (Basic)	-2.45	-0.35	-0.38	-0.43	-0.41
EPS (Diluted)	-2.45	-0.35	-0.38	-0.43	-0.41
Free Cash Flow	-91.06	-914.92	-760.64	101.03	449.98
Free Cash Flow Per Share	-0.11	-1.06	-0.88	0.12	0.52
Gross Margin	31.91%	34.37%	36.61%	31.20%	33.88%
Operating Margin	1.91%	1.33%	-3.83%	-5.96%	4.59%
Profit Margin	-104.13%	-12.16%	-14.85%	-12.99%	-8.02%
Free Cash Flow Margin	-4.49%	-37.21%	-34.31%	3.55%	10.22%
EBITDA	104.69	116.09	5.49	-77.83	319.38
EBITDA Margin	5.17%	4.72%	0.25%	-2.73%	7.25%
D&A For EBITDA	65.98	83.41	90.38	91.75	117.09
EBIT	38.71	32.68	-84.89	-169.58	202.29
EBIT Margin	1.91%	1.33%	-3.83%	-5.96%	4.59%
Revenue as Reported	2,201	2,516	2,237	2,982	4,443
Advertising Expenses	42.52	117.7	151.47	117.82	106.9

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