The Steel 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	6,560	7,881	6,822	10,199	14,519
Other Revenue	19.36	25.7	32.49	141.73	41.75
Revenue	6,579	7,907	6,855	10,340	14,561
Revenue Growth (YoY)	-16.79%	15.35%	-33.71%	-28.98%	95.18%
Cost of Revenue	6,421	7,711	6,656	9,982	13,059
Gross Profit	158.09	195.71	198.5	358.68	1,502
Selling, General & Admin	173.17	236.14	237.83	434.54	413.31
Operating Expenses	164.39	201.85	259.13	434.54	413.31
Operating Income	-6.3	-6.15	-60.62	-75.86	1,088
Interest Expense	-62.28	-93.09	-77.65	-75.81	-52.52
Earnings From Equity Investments	11.25	-0.08	38.49	-12.31	354.36
Currency Exchange Gain (Loss)	-8.56	30.22	5.91	-39.91	-63.32
EBT Excluding Unusual Items	-65.88	-69.1	-93.87	-203.89	1,327
Pretax Income	-65.88	-69.1	-93.87	-203.89	1,327
Income Tax Expense	1.57	16	8.07	-10.96	196.29
Earnings From Continuing Operations	-67.45	-85.1	-101.94	-192.94	1,131
Minority Interest in Earnings	-1.11	3.75	2.22	3.04	0.31
Net Income	-68.56	-81.36	-99.72	-189.89	1,131
Net Income to Common	-68.56	-81.36	-99.72	-189.89	1,131
Shares Outstanding (Basic)	1,102	1,102	1,102	1,102	1,102
Shares Outstanding (Diluted)	1,102	1,102	1,102	1,102	1,102
EPS (Basic)	-0.06	-0.07	-0.09	-0.17	1.03
EPS (Diluted)	-0.06	-0.07	-0.09	-0.17	1.03
Free Cash Flow	447.41	354.83	480.78	299.48	-100.78
Free Cash Flow Per Share	0.41	0.32	0.44	0.27	-0.09
Dividend Per Share	-	-	-	0.200	0.200
Dividend Growth	-	-	-	-	566.67%
Gross Margin	2.40%	2.48%	2.90%	3.47%	10.31%
Operating Margin	-0.10%	-0.08%	-0.88%	-0.73%	7.47%
Profit Margin	-1.04%	-1.03%	-1.46%	-1.84%	7.77%
Free Cash Flow Margin	6.80%	4.49%	7.01%	2.90%	-0.69%
EBITDA	53.25	54.95	2.51	-0.13	1,173
EBITDA Margin	0.81%	0.69%	0.04%	-0.00%	8.05%
D&A For EBITDA	59.55	61.09	63.13	75.73	84.14
EBIT	-6.3	-6.15	-60.62	-75.86	1,088
EBIT Margin	-0.10%	-0.08%	-0.88%	-0.73%	7.47%
Effective Tax Rate	-	-	-	-	14.79%
Revenue as Reported	6,579	7,937	6,861	10,340	14,561

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