United Paper 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
Revenue	3,807	3,932	4,083	4,969	4,601	3,569
Revenue Growth (YoY)	-3.00%	-3.71%	-17.82%	8.00%	28.91%	4.87%
Cost of Revenue	3,122	3,181	3,110	3,896	3,511	2,384
Gross Profit	684.55	750.94	973.7	1,073	1,089	1,185
Selling, General & Admin	71.52	72.11	72.34	67.04	63.53	63.42
Other Operating Expenses	-10.97	-11.22	-8.62	-6.87	-19.15	-33.79
Operating Expenses	60.55	60.89	63.71	60.17	44.38	29.63
Operating Income	624	690.05	909.99	1,013	1,045	1,155
Interest Expense	-0.34	-0.32	-0.17	-0.46	-0.15	-0.06
Interest & Investment Income	34.61	37.72	19.17	4.09	2.85	3.67
EBT Excluding Unusual Items	658.26	727.44	929	1,016	1,048	1,159
Other Unusual Items	-	-	-	-167.55	-	-
Pretax Income	658.26	727.44	1,010	848.69	1,048	1,159
Income Tax Expense	126.92	107.75	133.2	109.69	130.27	147.54
Net Income	531.34	619.69	876.35	739	917.43	1,011
Net Income to Common	531.34	619.69	876.35	739	917.43	1,011
Net Income Growth	-19.34%	-29.29%	18.59%	-19.45%	-9.29%	17.18%
Shares Outstanding (Basic)	650	650	650	650	650	650
Shares Outstanding (Diluted)	650	650	650	650	650	650
EPS (Basic)	0.82	0.95	1.35	1.14	1.41	1.56
EPS (Diluted)	0.82	0.95	1.35	1.14	1.41	1.56
EPS Growth	-19.34%	-29.29%	18.59%	-19.45%	-9.29%	17.18%
Free Cash Flow	575.89	546.1	1,053	1,133	491.8	961.93
Free Cash Flow Per Share	0.89	0.84	1.62	1.74	0.76	1.48
Dividend Per Share	0.600	0.650	0.810	0.700	0.710	0.800
Dividend Growth	-27.71%	-19.75%	15.71%	-1.41%	-11.25%	19.40%
Gross Margin	17.98%	19.10%	23.84%	21.59%	23.68%	33.20%
Operating Margin	16.39%	17.55%	22.29%	20.38%	22.71%	32.37%
Profit Margin	13.96%	15.76%	21.46%	14.87%	19.94%	28.34%
Free Cash Flow Margin	15.13%	13.89%	25.78%	22.80%	10.69%	26.95%
EBITDA	820.21	893.99	1,094	1,198	1,253	1,362
EBITDA Margin	21.55%	22.74%	26.80%	24.11%	27.24%	38.16%
D&A For EBITDA	196.21	203.94	184.32	185.26	208.27	206.76
EBIT	624	690.05	909.99	1,013	1,045	1,155
EBIT Margin	16.39%	17.55%	22.29%	20.38%	22.71%	32.37%
Effective Tax Rate	19.28%	14.81%	13.19%	12.93%	12.43%	12.73%

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