Rorze Systems Cash Flow Statement

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

Millions KRW. 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
Net Income	12,258	12,113	8,866	20,251	9,457
Depreciation & Amortization	3,176	3,040	2,744	2,793	2,992
Loss (Gain) From Sale of Assets	-0.27	-7.27	2.37	-115.57	551.52
Provision & Write-off of Bad Debts	521.71	731.1	-7.28	-483.23	-6.26
Other Operating Activities	932.29	95.21	2,612	8,125	4,989
Change in Accounts Receivable	14,509	-19,794	4,104	-1,793	-2,378
Change in Inventory	2,934	-2,953	6,739	-10,240	-6,255
Change in Accounts Payable	-6,083	10,099	-6,679	-12.86	5,096
Change in Other Net Operating Assets	-5,248	1,970	-1,550	-13,557	529.18
Operating Cash Flow	22,999	5,294	16,833	4,966	14,976
Operating Cash Flow Growth	334.42%	-68.55%	238.97%	-66.84%	-21.76%
Capital Expenditures	-2,892	-6,391	-317.32	-4,056	-766.27
Sale of Property, Plant & Equipment	0.27	150.6	4.39	236.8	20,328
Cash Acquisitions	-	-	-3,651	-	-
Sale (Purchase) of Intangibles	-2,883	-201.07	-14.27	-23.13	-248.45
Investment in Securities	1,522	-2,475	-	-	-70.14
Other Investing Activities	-222.32	1,212	-334.7	-2,315	-58.01
Investing Cash Flow	-4,100	-12,695	-5,179	-6,219	19,205
Short-Term Debt Issued	-	-	-	-	5,000
Total Debt Issued	-	-	-	-	5,000
Short-Term Debt Repaid	-	-	-	-	-5,000
Long-Term Debt Repaid	-63.39	-2,246	-2,219	-2,227	-18,041
Total Debt Repaid	-63.39	-2,246	-2,219	-2,227	-23,041
Net Debt Issued (Repaid)	-63.39	-2,246	-2,219	-2,227	-18,041
Issuance of Common Stock	2,880	-	-	-	-
Dividends Paid	-745.8	-745.8	-745.8	-298.32	-
Other Financing Activities	0	0	-	-	-400
Financing Cash Flow	2,071	-2,992	-2,965	-2,525	-18,441
Foreign Exchange Rate Adjustments	94.81	578.25	-486.25	-806.08	304.32
Miscellaneous Cash Flow Adjustments	-	-	-	-	0
Net Cash Flow	21,065	-9,815	8,203	-4,585	16,045
Free Cash Flow	20,107	-1,096	16,515	909.88	14,210
Free Cash Flow Growth	-	-	1715.11%	-93.60%	116.03%
Free Cash Flow Margin	16.10%	-0.69%	15.69%	0.63%	12.90%
Free Cash Flow Per Share	1346.76	-73.50	1107.21	61.00	952.68
Cash Interest Paid	40.42	305.47	51.78	118.23	147.87
Cash Income Tax Paid	3,555	2,639	4,092	6,185	2,830
Levered Free Cash Flow	13,919	315.86	14,387	-935.64	15,249
Unlevered Free Cash Flow	13,931	341.17	14,419	-858.47	15,347
Change in Working Capital	6,112	-10,678	2,615	-25,604	-3,007

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.