V.L. Enterprise 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	736.11	759.88	742.43	726.48	662.77
Other Revenue	2.19	3.2	4.67	2.34	4.27
Revenue	738.3	763.08	747.1	728.82	667.04
Revenue Growth (YoY)	-3.25%	2.14%	2.51%	9.26%	2.95%
Cost of Revenue	628.07	657.92	638.76	611.15	550.99
Gross Profit	110.24	105.16	108.34	117.67	116.05
Selling, General & Admin	45.81	49.94	44.77	46.15	52.19
Operating Expenses	45.81	49.94	38.23	50.91	52.19
Operating Income	64.43	55.22	70.11	66.76	63.87
Interest Expense	-18.37	-29.95	-37.45	-35.26	-37.15
Currency Exchange Gain (Loss)	0.36	0.59	3.31	-4.64	2.47
EBT Excluding Unusual Items	46.41	25.85	35.97	26.86	29.19
Gain (Loss) on Sale of Assets	-	57.44	-	-	-
Pretax Income	46.41	83.29	35.97	26.86	29.19
Income Tax Expense	4.97	8.47	4.98	3.53	6.08
Net Income	41.45	74.82	30.99	23.33	23.11
Net Income to Common	41.45	74.82	30.99	23.33	23.11
Net Income Growth	-44.60%	141.46%	32.81%	0.96%	-72.62%
Shares Outstanding (Basic)	1,184	1,184	1,150	1,013	830
Shares Outstanding (Diluted)	1,184	1,184	1,150	1,094	950
Shares Change (YoY)	-	2.92%	5.17%	15.09%	18.77%
EPS (Basic)	0.04	0.06	0.03	0.02	0.03
EPS (Diluted)	0.04	0.06	0.03	0.02	0.02
EPS Growth	-44.60%	134.62%	28.31%	-12.50%	-77.25%
Free Cash Flow	140.05	159.89	-57.98	165.33	-103.6
Free Cash Flow Per Share	0.12	0.14	-0.05	0.15	-0.11
Dividend Per Share	0.015	0.040	0.025	0.020	0.025
Dividend Growth	-62.50%	60.00%	25.00%	-20.00%	-64.29%
Gross Margin	14.93%	13.78%	14.50%	16.14%	17.40%
Operating Margin	8.73%	7.24%	9.38%	9.16%	9.57%
Profit Margin	5.61%	9.81%	4.15%	3.20%	3.46%
Free Cash Flow Margin	18.97%	20.95%	-7.76%	22.68%	-15.53%
EBITDA	209.34	199.54	208.77	180.66	175.25
EBITDA Margin	28.36%	26.15%	27.94%	24.79%	26.27%
D&A For EBITDA	144.92	144.32	138.66	113.9	111.38
EBIT	64.43	55.22	70.11	66.76	63.87
EBIT Margin	8.73%	7.24%	9.38%	9.16%	9.57%
Effective Tax Rate	10.70%	10.17%	13.84%	13.15%	20.83%
Revenue as Reported	738.66	821.11	755.64	729.49	669.51

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