Mud & Hound 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	2,334	3,002	3,449	3,062	2,170
Other Revenue	82.13	76.45	83.47	106.25	146.8
Revenue	2,416	3,078	3,533	3,168	2,316
Revenue Growth (YoY)	-21.51%	-12.87%	11.50%	36.78%	0.04%
Cost of Revenue	942.44	1,171	1,403	1,225	848.65
Gross Profit	1,474	1,908	2,130	1,944	1,468
Selling, General & Admin	1,742	1,949	2,038	1,854	1,485
Other Operating Expenses	373.98	121.69	-	-	-
Operating Expenses	2,116	2,071	2,038	1,854	1,485
Operating Income	-642.34	-163.23	91.64	89.4	-17.23
Interest Expense	-146.36	-130.78	-125.31	-112.85	-98.75
Currency Exchange Gain (Loss)	23.1	-44.33	19.65	-	-
EBT Excluding Unusual Items	-765.6	-338.33	-14.02	-23.45	-115.98
Pretax Income	-765.6	-338.33	-14.02	-23.45	-115.98
Income Tax Expense	-41.13	-4.68	20.63	-27.14	-4.73
Earnings From Continuing Operations	-724.47	-333.65	-34.65	3.69	-111.25
Minority Interest in Earnings	52.28	27.39	22.57	20.42	10.15
Net Income	-672.19	-306.26	-12.08	24.11	-101.1
Net Income to Common	-672.19	-306.26	-12.08	24.11	-101.1
Shares Outstanding (Basic)	1,053	1,053	1,053	1,053	1,052
Shares Outstanding (Diluted)	1,053	1,053	1,053	1,053	1,052
Shares Change (YoY)	-	-	-	0.14%	-0.14%
EPS (Basic)	-0.64	-0.29	-0.01	0.02	-0.10
EPS (Diluted)	-0.64	-0.29	-0.01	0.02	-0.10
Free Cash Flow	323.6	268.98	413.25	160.95	198.27
Free Cash Flow Per Share	0.31	0.26	0.39	0.15	0.19
Gross Margin	60.99%	61.97%	60.28%	61.35%	63.36%
Operating Margin	-26.59%	-5.30%	2.59%	2.82%	-0.74%
Profit Margin	-27.82%	-9.95%	-0.34%	0.76%	-4.36%
Free Cash Flow Margin	13.39%	8.74%	11.70%	5.08%	8.56%
EBITDA	-514.94	-21.65	232.09	229.67	120.92
EBITDA Margin	-21.31%	-0.70%	6.57%	7.25%	5.22%
D&A For EBITDA	127.4	141.58	140.45	140.28	138.15
EBIT	-642.34	-163.23	91.64	89.4	-17.23
EBIT Margin	-26.59%	-5.30%	2.59%	2.82%	-0.74%
Revenue as Reported	2,439	3,078	3,552	3,168	2,316

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