Modernform Group 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	2,168	2,482	2,525	2,417	2,377
Other Revenue	67.99	27.84	36.53	30.79	41.25
Revenue	2,236	2,510	2,562	2,447	2,418
Revenue Growth (YoY)	-10.90%	-2.03%	4.67%	1.22%	-18.65%
Cost of Revenue	1,452	1,657	1,727	1,711	1,578
Gross Profit	783.98	852.38	834.36	736.46	839.9
Selling, General & Admin	649.78	718.1	736.57	658.29	688.93
Other Operating Expenses	16.23	19.57	14.65	21.51	15.83
Operating Expenses	666.01	737.68	751.22	679.8	704.76
Operating Income	117.97	114.71	83.15	56.65	135.14
Interest Expense	-12.93	-2.61	-9.08	-7.06	-6.29
Interest & Investment Income	-	20.23	15.13	8.5	11.15
Earnings From Equity Investments	15.23	33.43	-5.26	7.62	-21.27
Other Non Operating Income (Expenses)	9.56	-9.74	-4.19	-6.42	-7.37
EBT Excluding Unusual Items	129.83	156.02	79.75	59.29	111.36
Pretax Income	129.83	156.02	79.75	59.29	111.36
Income Tax Expense	25.71	19.84	19.61	19.82	26
Earnings From Continuing Operations	104.12	136.19	60.14	39.47	85.36
Net Income to Company	104.12	136.19	60.14	39.47	85.36
Minority Interest in Earnings	-1.23	-1.24	-0.1	-0.42	2.72
Net Income	102.89	134.94	60.03	39.05	88.08
Net Income to Common	102.89	134.94	60.03	39.05	88.08
Net Income Growth	-23.75%	124.77%	53.74%	-55.67%	-37.80%
Shares Outstanding (Basic)	735	726	750	750	734
Shares Outstanding (Diluted)	735	726	750	750	734
Shares Change (YoY)	1.30%	-3.26%	-	2.18%	-2.13%
EPS (Basic)	0.14	0.19	0.08	0.05	0.12
EPS (Diluted)	0.14	0.19	0.08	0.05	0.12
EPS Growth	-24.73%	132.35%	53.74%	-56.61%	-36.45%
Free Cash Flow	255.95	247.59	284.47	-109.13	165.52
Free Cash Flow Per Share	0.35	0.34	0.38	-0.15	0.23
Dividend Per Share	-	0.180	0.090	0.060	0.120
Dividend Growth	-	100.00%	50.00%	-50.00%	-40.00%
Gross Margin	35.06%	33.96%	32.57%	30.09%	34.74%
Operating Margin	5.28%	4.57%	3.25%	2.31%	5.59%
Profit Margin	4.60%	5.38%	2.34%	1.60%	3.64%
Free Cash Flow Margin	11.45%	9.87%	11.11%	-4.46%	6.84%
EBITDA	198.33	189.97	158.59	133.87	218.81
EBITDA Margin	8.87%	7.57%	6.19%	5.47%	9.05%
D&A For EBITDA	80.36	75.26	75.44	77.22	83.67
EBIT	117.97	114.71	83.15	56.65	135.14
EBIT Margin	5.28%	4.57%	3.25%	2.31%	5.59%
Effective Tax Rate	19.81%	12.72%	24.59%	33.42%	23.35%
Revenue as Reported	2,236	2,517	2,570	2,453	2,424

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.