United Paper 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	3,724	3,932	4,083	4,969	4,601
Revenue Growth (YoY)	-5.29%	-3.71%	-17.82%	8.00%	28.91%
Cost of Revenue	3,054	3,181	3,110	3,896	3,511
Gross Profit	669.81	750.94	973.7	1,073	1,089
Selling, General & Admin	74.71	72.11	72.34	67.04	63.53
Other Operating Expenses	-13.44	-11.22	-8.62	-6.87	-19.15
Operating Expenses	61.27	60.89	63.71	60.17	44.38
Operating Income	608.54	690.05	909.99	1,013	1,045
Interest Expense	-0.32	-0.32	-0.17	-0.46	-0.15
Interest & Investment Income	32.2	37.72	19.17	4.09	2.85
EBT Excluding Unusual Items	640.42	727.44	929	1,016	1,048
Other Unusual Items	-	-	-	-167.55	-
Pretax Income	640.42	727.44	1,010	848.69	1,048
Income Tax Expense	128.84	107.75	133.2	109.69	130.27
Net Income	511.58	619.69	876.35	739	917.43
Net Income to Common	511.58	619.69	876.35	739	917.43
Net Income Growth	-17.45%	-29.29%	18.59%	-19.45%	-9.29%
Shares Outstanding (Basic)	650	650	650	650	650
Shares Outstanding (Diluted)	650	650	650	650	650
EPS (Basic)	0.79	0.95	1.35	1.14	1.41
EPS (Diluted)	0.79	0.95	1.35	1.14	1.41
EPS Growth	-17.45%	-29.29%	18.59%	-19.45%	-9.29%
Free Cash Flow	664.98	546.1	1,053	1,133	491.8
Free Cash Flow Per Share	1.02	0.84	1.62	1.74	0.76
Dividend Per Share	0.600	0.650	0.810	0.700	0.710
Dividend Growth	-7.69%	-19.75%	15.71%	-1.41%	-11.25%
Gross Margin	17.99%	19.10%	23.84%	21.59%	23.68%
Operating Margin	16.34%	17.55%	22.29%	20.38%	22.71%
Profit Margin	13.74%	15.76%	21.46%	14.87%	19.94%
Free Cash Flow Margin	17.86%	13.89%	25.78%	22.80%	10.69%
EBITDA	809.96	893.99	1,094	1,198	1,253
EBITDA Margin	21.75%	22.74%	26.80%	24.11%	27.24%
D&A For EBITDA	201.42	203.94	184.32	185.26	208.27
EBIT	608.54	690.05	909.99	1,013	1,045
EBIT Margin	16.34%	17.55%	22.29%	20.38%	22.71%
Effective Tax Rate	20.12%	14.81%	13.19%	12.93%	12.43%

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