DAVOLINK 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024
Net Income	-5,010	-5,639
Depreciation & Amortization	639.55	739.26
Loss (Gain) From Sale of Assets	-3.68	-
Asset Writedown & Restructuring Costs	197.16	1,189
Loss (Gain) From Sale of Investments	1,971	993.8
Provision & Write-off of Bad Debts	-0.03	-0.02
Other Operating Activities	1,881	889.77
Change in Accounts Receivable	1,933	1,379
Change in Inventory	132.69	477.85
Change in Accounts Payable	-1,268	139.93
Change in Other Net Operating Assets	-2,315	-1,017
Operating Cash Flow	-1,842	-846.68
Capital Expenditures	-796.72	-647.54
Sale of Property, Plant & Equipment	6.5	-
Sale (Purchase) of Intangibles	-102.28	-
Investment in Securities	-4,977	1,038
Other Investing Activities	-	-0
Investing Cash Flow	-5,869	390.24
Short-Term Debt Issued	46,078	-
Long-Term Debt Issued	10,000	-
Total Debt Issued	56,078	-
Short-Term Debt Repaid	-50,101	-6,005
Long-Term Debt Repaid	-287.8	-278.73
Total Debt Repaid	-50,389	-6,284
Net Debt Issued (Repaid)	5,689	-6,284
Issuance of Common Stock	9,000	-
Other Financing Activities	0	-
Financing Cash Flow	14,689	-6,284
Miscellaneous Cash Flow Adjustments	-0	-
Net Cash Flow	6,978	-6,740
Free Cash Flow	-2,639	-1,494
Free Cash Flow Margin	-4.18%	-2.27%
Free Cash Flow Per Share	-59.52	-34.45
Cash Interest Paid	438.7	633.3
Cash Income Tax Paid	10.35	-19.76
Levered Free Cash Flow	328.85	-
Unlevered Free Cash Flow	1,885	-
Change in Working Capital	-1,517	979.74

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