Model Solution Co., Ltd. (KOSDAQ: 417970)

Model Solution Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating Revenue	65,908	64,915	69,976	61,106	55,609	61,339
Other Revenue	-0	-0	-	-	-0	-
Revenue	65,908	64,915	69,976	61,106	55,609	61,339
Revenue Growth (YoY)	-4.93%	-7.23%	14.51%	9.89%	-9.34%	9.24%
Cost of Revenue	54,460	52,900	49,151	43,749	41,223	43,972
Gross Profit	11,447	12,015	20,825	17,357	14,386	17,367
Selling, General & Admin	9,810	10,062	9,512	7,593	6,751	7,527
Research & Development	313.97	287.94	433.77	248.29	287.39	135.72
Other Operating Expenses	228.24	355.54	352.46	314.06	297.47	258.1
Operating Expenses	11,417	11,713	11,096	8,430	7,630	8,262
Operating Income	30.19	301.61	9,729	8,927	6,756	9,105
Interest Expense	-390.21	-357.89	-352.71	-241.25	-272.28	-394.58
Interest & Investment Income	1,485	1,549	373.3	24.07	34.01	38.1
Earnings From Equity Investments	-216.21	-282.35	-7.37	123.44	-212.61	-
Currency Exchange Gain (Loss)	586.4	361.48	223.43	709.76	-525.59	216.75
Other Non Operating Income (Expenses)	56.45	31.76	57.58	4.28	159.83	-321.05
EBT Excluding Unusual Items	1,551	1,603	10,023	9,547	5,940	8,644
Gain (Loss) on Sale of Assets	-11.06	16	-36.95	-11.47	-19.02	-693.3
Asset Writedown	-	-	-	-	13.92	68.33
Pretax Income	1,540	1,619	9,986	9,536	5,934	8,019
Income Tax Expense	538.76	552.98	2,277	2,069	1,626	2,039
Net Income	1,002	1,066	7,709	7,466	4,308	5,981
Net Income to Common	1,002	1,066	7,709	7,466	4,308	5,981
Net Income Growth	-83.28%	-86.17%	3.25%	73.31%	-27.97%	-5.75%
Shares Outstanding (Basic)	6	6	6	5	5	5
Shares Outstanding (Diluted)	6	6	6	5	5	5
Shares Change (YoY)	4.11%	13.64%	4.89%	-	-0.00%	-
EPS (Basic)	156.57	166.68	1369.50	1391.23	802.74	1114.37
EPS (Diluted)	156.57	166.68	1369.50	1391.23	802.74	1114.37
EPS Growth	-83.94%	-87.83%	-1.56%	73.31%	-27.97%	-5.75%
Free Cash Flow	5,267	1,091	-3,313	8,032	7,575	8,238
Free Cash Flow Per Share	823.46	170.55	-588.46	1496.57	1411.51	1534.95
Dividend Per Share	40.000	40.000	-	-	-	-
Gross Margin	17.37%	18.51%	29.76%	28.40%	25.87%	28.31%
Operating Margin	0.05%	0.46%	13.90%	14.61%	12.15%	14.84%
Profit Margin	1.52%	1.64%	11.02%	12.22%	7.75%	9.75%
Free Cash Flow Margin	7.99%	1.68%	-4.73%	13.14%	13.62%	13.43%
EBITDA	4,297	4,386	13,250	11,260	9,315	11,925
EBITDA Margin	6.52%	6.76%	18.94%	18.43%	16.75%	19.44%
D&A For EBITDA	4,267	4,085	3,522	2,333	2,558	2,820
EBIT	30.19	301.61	9,729	8,927	6,756	9,105
EBIT Margin	0.05%	0.46%	13.90%	14.61%	12.15%	14.84%
Effective Tax Rate	34.98%	34.15%	22.80%	21.70%	27.41%	25.42%
Advertising Expenses	-	433	247.64	231.54	28.24	307.56

Source: S&P Capital IQ. Standard template. Financial Sources.