Changhae Ethanol Co., Ltd. (KOSDAQ:004650)

Changhae Ethanol Income Statement

Financials in millions KRW. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Other Revenue	0	-	-0	-	-	-
Revenue	120,574	137,452	116,423	109,430	96,991	114,660
Revenue Growth (YoY)	-12.44%	18.06%	6.39%	12.83%	-15.41%	-38.78%
Cost of Revenue	94,788	109,910	92,303	91,261	73,464	85,764
Gross Profit	25,787	27,543	24,120	18,168	23,527	28,896
Selling, General & Admin	8,906	8,136	7,472	6,363	7,442	7,129
Research & Development	393.92	372.51	405.81	526.46	531.38	780.42
Amortization of Goodwill & Intangibles	0.95	2.23	2.82	4.44	9.69	11.39
Other Operating Expenses	122.58	119.3	162.92	100.03	111.98	97.23
Operating Expenses	11,130	10,162	9,535	8,401	8,622	10,858
Operating Income	14,656	17,381	14,585	9,767	14,906	18,038
Interest Expense	-1,706	-2,076	-2,053	-1,479	-1,041	-1,405
Interest & Investment Income	297.65	134.46	58.71	42.21	64.45	339.63
Earnings From Equity Investments	1,638	1,362	-753.3	-652.74	-169.71	221.1
Currency Exchange Gain (Loss)	-496.63	-516.16	220.59	-431.05	126.35	-318.67
Other Non Operating Income (Expenses)	-358.24	-110.34	-476.56	59.91	232.09	367.83
EBT Excluding Unusual Items	14,031	16,175	11,581	7,306	14,117	17,242
Gain (Loss) on Sale of Investments	2.85	1.52	-12,403	-61.98	-760.22	-86.16
Gain (Loss) on Sale of Assets	372.6	-429.79	-70.34	6.4	140.33	6.26
Asset Writedown	-227.36	-227.36	-	-4,499	-	-
Other Unusual Items	-	-	-	-	-	582.22
Pretax Income	14,179	15,520	-892.16	2,752	13,498	17,745
Income Tax Expense	3,180	3,077	2,775	2,453	3,426	4,331
Earnings From Continuing Operations	10,999	12,443	-3,667	299.41	10,072	13,413
Minority Interest in Earnings	184.78	74.89	-173.34	-221.85	-229.92	-412.83
Net Income	11,184	12,518	-3,840	77.56	9,842	13,000
Net Income to Common	11,184	12,518	-3,840	77.56	9,842	13,000
Net Income Growth	-0.82%	-	-	-99.21%	-24.30%	-35.27%
Shares Outstanding (Basic)	8	8	8	8	8	8
Shares Outstanding (Diluted)	8	8	8	8	8	8
Shares Change (YoY)	-0.07%	-	-	-	-0.48%	-2.76%
EPS (Basic)	1474.63	1649.81	-506.17	10.22	1297.12	1705.26
EPS (Diluted)	1474.63	1649.81	-506.17	10.00	1297.00	1705.00
EPS Growth	-0.74%	-	-	-99.23%	-23.93%	-33.45%
Free Cash Flow	11,329	10,355	5,337	1,491	10,533	10,142
Free Cash Flow Per Share	1493.72	1364.78	703.37	196.46	1388.20	1330.33
Dividend Per Share	600.000	600.000	-	-	-	-
Gross Margin	21.39%	20.04%	20.72%	16.60%	24.26%	25.20%
Operating Margin	12.16%	12.65%	12.53%	8.93%	15.37%	15.73%
Profit Margin	9.28%	9.11%	-3.30%	0.07%	10.15%	11.34%
Free Cash Flow Margin	9.40%	7.53%	4.58%	1.36%	10.86%	8.85%
EBITDA	19,348	21,910	18,543	13,515	18,578	21,745
EBITDA Margin	16.05%	15.94%	15.93%	12.35%	19.16%	18.96%
D&A For EBITDA	4,691	4,529	3,958	3,748	3,673	3,708
EBIT	14,656	17,381	14,585	9,767	14,906	18,038
EBIT Margin	12.16%	12.65%	12.53%	8.93%	15.37%	15.73%
Effective Tax Rate	22.43%	19.83%	-	89.12%	25.38%	24.41%
Advertising Expenses	-	4.9	1	3	1	2

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