Korea Ratings Cash Flow Statement

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

Millions KRW. 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
Net Income	25,362	24,433	20,385	20,441	22,261	19,957
Depreciation & Amortization	2,395	3,721	5,421	5,859	4,669	3,224
Loss (Gain) From Sale of Assets	-0.58	0.33	-2.8	-3.2	-4.66	52.85
Loss (Gain) From Sale of Investments	-	-	-	-	-	4
Provision & Write-off of Bad Debts	236.94	251.36	100.49	15.07	9.06	78.91
Other Operating Activities	3,301	6,346	439.08	401.93	4,756	4,899
Change in Accounts Receivable	133.06	-2,209	842.07	1,245	-1,274	965.69
Change in Accounts Payable	-0.03	-0.06	-0.04	-0.13	0.35	-
Change in Other Net Operating Assets	370.58	2,861	463.46	-3,523	3,169	1,365
Operating Cash Flow	31,798	35,403	27,648	24,435	33,586	30,546
Operating Cash Flow Growth	-7.62%	28.05%	13.15%	-27.25%	9.95%	-5.56%
Capital Expenditures	-731.44	-273.96	-255.2	-192.82	-64.56	-676.54
Sale of Property, Plant & Equipment	0.37	-	1.28	0.52	-	13.79
Sale (Purchase) of Intangibles	-2,381	-1,313	-324	-1,415	-5,727	-5,004
Investment in Securities	-	-	-	-	1,000	104,600
Other Investing Activities	-302.41	-150.42	-180.74	556.68	-7.6	-92.34
Investing Cash Flow	-3,037	-2,031	-2,122	-1,537	-5,651	99,047
Long-Term Debt Repaid	-	-702.47	-690.49	-753.57	-773.89	-762.26
Net Debt Issued (Repaid)	-694.46	-702.47	-690.49	-753.57	-773.89	-762.26
Dividends Paid	-23,810	-19,756	-32,948	-25,712	-15,685	-40,870
Other Financing Activities	-	-	-	-	-0	-
Financing Cash Flow	-24,505	-20,459	-33,639	-26,466	-16,459	-41,633
Miscellaneous Cash Flow Adjustments	-0	-0	-	-	-0	-
Net Cash Flow	4,255	12,913	-8,113	-3,567	11,476	87,960
Free Cash Flow	31,066	35,129	27,393	24,242	33,522	29,869
Free Cash Flow Growth	-8.97%	28.24%	13.00%	-27.68%	12.23%	-0.56%
Free Cash Flow Margin	28.61%	33.76%	28.66%	23.87%	32.07%	31.15%
Free Cash Flow Per Share	6964.12	7874.90	6140.71	5434.40	7514.59	6695.84
Cash Interest Paid	69.24	99.42	97.74	13.44	22.57	32.82
Cash Income Tax Paid	8,939	5,368	9,403	11,045	9,835	9,411
Levered Free Cash Flow	20,622	25,191	19,396	19,523	23,454	20,774
Unlevered Free Cash Flow	20,703	25,273	19,461	19,538	23,471	20,803
Change in Working Capital	503.61	651.45	1,305	-2,279	1,896	2,331

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.