Ratch 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
Revenue	24,530	30,965	41,239	71,882	35,231
Revenue Growth (YoY)	-20.78%	-24.91%	-42.63%	104.03%	11.31%
Selling, General & Admin	3,282	3,253	3,037	2,410	1,708
Other Operating Expenses	21,412	26,973	37,454	69,011	32,892
Total Operating Expenses	24,695	30,226	40,491	71,421	34,600
Operating Income	-164.66	738.84	747.2	461.18	631.49
Interest Expense	-4,332	-4,447	-4,443	-2,977	-1,868
Interest Income	3,455	3,362	4,285	3,369	2,359
Net Interest Expense	-876.96	-1,084	-157.91	392.65	491.41
Income (Loss) on Equity Investments	6,897	6,798	3,815	5,391	5,902
Currency Exchange Gain (Loss)	505.88	-94.79	133.45	-30.13	206.29
Other Non-Operating Income (Expenses)	1,082	870.87	1,801	57.48	541.46
EBT Excluding Unusual Items	7,443	7,228	6,339	6,272	7,773
Total Merger & Restructuring Charges	-	-	-	-369	-
Gain (Loss) on Sale of Investments	-	-	-	661.08	-
Insurance Settlements	-	-	-	49.12	-
Other Unusual Items	-	-	-	-	227.03
Pretax Income	7,443	7,228	6,339	6,614	8,000
Income Tax Expense	575.32	907.07	860.31	937.34	177.17
Earnings From Continuing Ops.	6,868	6,321	5,479	5,676	7,823
Minority Interest in Earnings	-647.41	-194.63	-311.78	105.89	-4.11
Net Income	6,220	6,127	5,167	5,782	7,819
Net Income to Common	6,220	6,127	5,167	5,782	7,819
Net Income Growth	1.53%	18.57%	-10.63%	-26.05%	24.37%
Shares Outstanding (Basic)	2,175	2,175	2,175	1,833	1,450
Shares Outstanding (Diluted)	2,175	2,175	2,175	1,833	1,450
Shares Change (YoY)	-	-	18.63%	26.44%	-
EPS (Basic)	2.86	2.82	2.38	3.15	5.39
EPS (Diluted)	2.86	2.82	2.38	3.15	5.39
EPS Growth	1.53%	18.57%	-24.67%	-41.51%	24.37%
Free Cash Flow	10,916	6,101	7,699	5,129	5,260
Free Cash Flow Per Share	5.02	2.81	3.54	2.80	3.63
Dividend Per Share	1.600	1.600	1.600	1.600	2.500
Dividend Growth	-	-	-	-36.00%	4.17%
Profit Margin	25.36%	19.79%	12.53%	8.04%	22.19%
Free Cash Flow Margin	44.50%	19.70%	18.67%	7.14%	14.93%
EBITDA	3,543	4,767	4,813	3,498	2,669
EBITDA Margin	14.44%	15.39%	11.67%	4.87%	7.58%
D&A For EBITDA	3,708	4,028	4,065	3,037	2,037
EBIT	-164.66	738.84	747.2	461.18	631.49
EBIT Margin	-0.67%	2.39%	1.81%	0.64%	1.79%
Effective Tax Rate	7.73%	12.55%	13.57%	14.17%	2.21%

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