Thai Wah 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	9,206	10,037	10,231	10,421	9,105
Other Revenue	79.02	85.6	52.99	42.47	86.4
Revenue	9,285	10,123	10,284	10,463	9,192
Revenue Growth (YoY)	-8.28%	-1.57%	-1.71%	13.83%	28.81%
Cost of Revenue	7,244	8,529	8,687	8,563	7,309
Gross Profit	2,041	1,593	1,597	1,900	1,883
Selling, General & Admin	1,710	1,568	1,492	1,479	1,390
Operating Expenses	1,710	1,568	1,492	1,479	1,390
Operating Income	330.18	24.8	105.15	421.36	493.27
Interest Expense	-55.65	-97.37	-77.63	-60.41	-67.17
Interest & Investment Income	10.91	12.51	5.74	2.58	2.67
Other Non Operating Income (Expenses)	-8.75	-6.1	6.27	2.55	-2.63
EBT Excluding Unusual Items	276.68	-66.17	39.53	366.08	426.15
Gain (Loss) on Sale of Assets	-	-	-	-	2.55
Pretax Income	276.68	-66.17	39.53	366.08	428.7
Income Tax Expense	111.48	26.15	11.94	65.79	66.09
Earnings From Continuing Operations	165.2	-92.32	27.59	300.29	362.61
Minority Interest in Earnings	-9.28	20.91	19.66	-2.11	-39.58
Net Income	155.92	-71.41	47.25	298.19	323.03
Net Income to Common	155.92	-71.41	47.25	298.19	323.03
Net Income Growth	-	-	-84.15%	-7.69%	744.17%
Shares Outstanding (Basic)	880	880	880	880	880
Shares Outstanding (Diluted)	880	880	880	880	880
EPS (Basic)	0.18	-0.08	0.05	0.34	0.37
EPS (Diluted)	0.18	-0.08	0.05	0.34	0.37
EPS Growth	-	-	-84.15%	-7.69%	744.17%
Free Cash Flow	570.7	653.57	-614.5	158.32	133.56
Free Cash Flow Per Share	0.65	0.74	-0.70	0.18	0.15
Dividend Per Share	0.114	0.057	0.090	0.220	0.220
Dividend Growth	100.00%	-36.67%	-59.09%	-	69.23%
Gross Margin	21.98%	15.74%	15.53%	18.16%	20.49%
Operating Margin	3.56%	0.24%	1.02%	4.03%	5.37%
Profit Margin	1.68%	-0.70%	0.46%	2.85%	3.51%
Free Cash Flow Margin	6.15%	6.46%	-5.97%	1.51%	1.45%
EBITDA	748.87	448.05	540.81	871.91	930.9
EBITDA Margin	8.06%	4.43%	5.26%	8.33%	10.13%
D&A For EBITDA	418.69	423.25	435.66	450.55	437.63
EBIT	330.18	24.8	105.15	421.36	493.27
EBIT Margin	3.56%	0.24%	1.02%	4.03%	5.37%
Effective Tax Rate	40.29%	-	30.20%	17.97%	15.42%
Revenue as Reported	9,290	10,127	10,284	10,466	9,194

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