Make To Win Holding PCL Income Statement

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

Millions THB. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	296.59	287.48	522.14	248.16	213.08	173.92
Other Revenue	1.76	0.96	0.77	0.51	1.09	0.96
Revenue	298.35	288.43	522.9	248.67	214.17	174.88
Revenue Growth (YoY)	-15.12%	-44.84%	110.28%	16.11%	22.47%	11.56%
Cost of Revenue	236.83	224.79	379.11	179.71	148.39	122.49
Gross Profit	61.52	63.65	143.79	68.96	65.78	52.39
Selling, General & Admin	76.66	68.47	57.85	40.33	31.2	28.48
Operating Expenses	76.66	68.47	57.85	40.33	31.2	28.48
Operating Income	-15.14	-4.82	85.94	28.63	34.58	23.91
Interest Expense	-12.56	-16.02	-6.38	-3.09	-1.6	-2.27
EBT Excluding Unusual Items	-27.71	-20.84	79.56	25.54	32.98	21.64
Pretax Income	-27.71	-20.84	79.56	25.54	32.98	21.64
Income Tax Expense	-1.57	-0.1	14.26	3.44	6.63	4.29
Earnings From Continuing Operations	-26.13	-20.73	65.3	22.1	26.35	17.35
Minority Interest in Earnings	1.21	1.02	-11.06	-2.73	-6.52	-5.96
Net Income	-24.93	-19.71	54.24	19.37	19.83	11.38
Net Income to Common	-24.93	-19.71	54.24	19.37	19.83	11.38
Net Income Growth	-	-	179.98%	-2.31%	74.18%	-4.97%
Shares Outstanding (Basic)	761	674	674	515	500	456
Shares Outstanding (Diluted)	761	674	674	515	500	456
Shares Change (YoY)	12.88%	-	30.81%	3.05%	9.59%	0.50%
EPS (Basic)	-0.03	-0.03	0.08	0.04	0.04	0.02
EPS (Diluted)	-0.03	-0.03	0.08	0.04	0.04	0.02
EPS Growth	-	-	114.04%	-5.20%	58.95%	-5.44%
Free Cash Flow	125.79	-1.86	-287.3	-151.81	2.82	18.47
Free Cash Flow Per Share	0.17	-0.00	-0.43	-0.29	0.01	0.04
Gross Margin	20.62%	22.07%	27.50%	27.73%	30.71%	29.96%
Operating Margin	-5.08%	-1.67%	16.43%	11.51%	16.14%	13.67%
Profit Margin	-8.35%	-6.83%	10.37%	7.79%	9.26%	6.51%
Free Cash Flow Margin	42.16%	-0.65%	-54.94%	-61.05%	1.32%	10.56%
EBITDA	4.85	12.8	97.89	37.38	45.18	35.39
EBITDA Margin	1.63%	4.44%	18.72%	15.03%	21.10%	20.23%
D&A For EBITDA	20	17.62	11.96	8.76	10.61	11.48
EBIT	-15.14	-4.82	85.94	28.63	34.58	23.91
EBIT Margin	-5.08%	-1.67%	16.43%	11.51%	16.14%	13.67%
Effective Tax Rate	-	-	17.92%	13.47%	20.09%	19.83%
Revenue as Reported	301.62	291.7	528.98	250.89	214.17	174.88
Advertising Expenses	-	-	-	-	-	0.65

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