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	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Other Revenue	-	-	-0	-	-	-
Revenue	138,355	137,452	116,423	109,430	96,991	114,660
Revenue Growth (YoY)	18.21%	18.06%	6.39%	12.83%	-15.41%	-38.78%
Cost of Revenue	110,215	109,910	92,303	91,261	73,464	85,764
Gross Profit	28,140	27,543	24,120	18,168	23,527	28,896
Selling, General & Admin	8,525	8,136	7,472	6,363	7,442	7,129
Research & Development	350.44	372.51	405.81	526.46	531.38	780.42
Other Operating Expenses	126.65	119.3	162.92	100.03	111.98	97.23
Operating Expenses	10,582	10,162	9,535	8,401	8,622	10,858
Operating Income	17,558	17,381	14,585	9,767	14,906	18,038
Interest Expense	-1,941	-2,076	-2,053	-1,479	-1,041	-1,405
Interest & Investment Income	165.28	134.46	58.71	42.21	64.45	339.63
Earnings From Equity Investments	1,304	1,362	-753.3	-652.74	-169.71	221.1
Currency Exchange Gain (Loss)	-258.63	-516.16	220.59	-431.05	126.35	-318.67
Other Non Operating Income (Expenses)	-69.41	-110.34	-476.56	59.91	232.09	367.83
EBT Excluding Unusual Items	16,758	16,175	11,581	7,306	14,117	17,242
Gain (Loss) on Sale of Investments	4.95	1.52	-12,403	-61.98	-760.22	-86.16
Gain (Loss) on Sale of Assets	-437.78	-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	16,098	15,520	-892.16	2,752	13,498	17,745
Income Tax Expense	2,926	3,077	2,775	2,453	3,426	4,331
Earnings From Continuing Operations	13,172	12,443	-3,667	299.41	10,072	13,413
Minority Interest in Earnings	101.34	74.89	-173.34	-221.85	-229.92	-412.83
Net Income	13,274	12,518	-3,840	77.56	9,842	13,000
Net Income to Common	13,274	12,518	-3,840	77.56	9,842	13,000
Net Income Growth	-	-	-	-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)	0.06%	-	-	-	-0.48%	-2.76%
EPS (Basic)	1748.81	1649.81	-506.17	10.22	1297.12	1705.26
EPS (Diluted)	1748.81	1649.81	-506.17	10.00	1297.00	1705.00
EPS Growth	-	-	-	-99.23%	-23.93%	-33.45%
Free Cash Flow	11,322	10,355	5,337	1,491	10,533	10,142
Free Cash Flow Per Share	1491.63	1364.78	703.37	196.46	1388.20	1330.33
Dividend Per Share	600.000	600.000	-	-	-	-
Gross Margin	20.34%	20.04%	20.72%	16.60%	24.26%	25.20%
Operating Margin	12.69%	12.65%	12.53%	8.93%	15.37%	15.73%
Profit Margin	9.59%	9.11%	-3.30%	0.07%	10.15%	11.34%
Free Cash Flow Margin	8.18%	7.53%	4.58%	1.36%	10.86%	8.85%
EBITDA	22,175	21,910	18,543	13,515	18,578	21,745
EBITDA Margin	16.03%	15.94%	15.93%	12.35%	19.16%	18.96%
D&A For EBITDA	4,617	4,529	3,958	3,748	3,673	3,708
EBIT	17,558	17,381	14,585	9,767	14,906	18,038
EBIT Margin	12.69%	12.65%	12.53%	8.93%	15.37%	15.73%
Effective Tax Rate	18.18%	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.