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

Model Solution 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	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Revenue	70,242	68,034	64,719	67,404	61,106	55,609
Other Revenue	-	-0	-	-	-	-0
Revenue	70,242	68,034	64,719	67,404	61,106	55,609
Revenue Growth (YoY)	6.89%	5.12%	-3.98%	10.31%	9.88%	-9.34%
Cost of Revenue	52,125	51,603	50,825	48,419	43,749	41,223
Gross Profit	18,118	16,431	13,894	18,985	17,357	14,386
Selling, General & Admin	11,316	10,690	10,062	9,512	7,593	6,751
Research & Development	285.56	260.61	287.94	433.77	248.29	287.39
Amortization of Goodwill & Intangibles	42.09	34.48	22.36	22.02	11.65	13.36
Other Operating Expenses	207.87	204.31	355.54	352.46	314.06	297.47
Operating Expenses	12,945	12,243	11,713	11,096	8,430	7,630
Operating Income	5,172	4,187	2,181	7,889	8,927	6,756
Interest Expense	-486.61	-413.63	-244.43	-352.71	-241.25	-272.28
Interest & Investment Income	1,490	1,442	1,549	373.3	24.07	34.01
Earnings From Equity Investments	-89.89	-13.21	-282.35	-7.37	123.44	-212.61
Currency Exchange Gain (Loss)	-148.28	1,036	322.14	223.43	709.76	-525.59
Other Non Operating Income (Expenses)	-57.2	-68.53	-81.7	57.58	4.28	159.83
EBT Excluding Unusual Items	5,880	6,169	3,443	8,183	9,547	5,940
Gain (Loss) on Sale of Assets	0.98	1.68	16	-36.95	-11.47	-19.02
Asset Writedown	-	-	-	-	-	13.92
Pretax Income	5,881	6,171	3,459	8,146	9,536	5,934
Income Tax Expense	657.81	882.7	957.73	1,872	2,069	1,626
Net Income	5,224	5,288	2,501	6,274	7,466	4,308
Net Income to Common	5,224	5,288	2,501	6,274	7,466	4,308
Net Income Growth	114.39%	111.43%	-60.13%	-15.97%	73.31%	-27.96%
Shares Outstanding (Basic)	6	6	6	6	5	5
Shares Outstanding (Diluted)	6	6	6	6	5	5
Shares Change (YoY)	-	-	13.64%	4.89%	-	-
EPS (Basic)	816.61	826.73	391.01	1114.57	1391.23	802.74
EPS (Diluted)	816.61	826.73	391.01	1114.57	1391.23	802.74
EPS Growth	114.39%	111.43%	-64.92%	-19.89%	73.31%	-27.96%
Free Cash Flow	13,827	14,186	1,091	-3,313	8,032	7,575
Free Cash Flow Per Share	2161.63	2217.73	170.55	-588.46	1496.57	1411.51
Dividend Per Share	210.000	210.000	-	-	-	-
Gross Margin	25.79%	24.15%	21.47%	28.17%	28.40%	25.87%
Operating Margin	7.36%	6.16%	3.37%	11.70%	14.61%	12.15%
Profit Margin	7.44%	7.77%	3.86%	9.31%	12.22%	7.75%
Free Cash Flow Margin	19.68%	20.85%	1.69%	-4.91%	13.14%	13.62%
EBITDA	9,577	8,504	6,266	11,411	11,260	9,315
EBITDA Margin	13.63%	12.50%	9.68%	16.93%	18.43%	16.75%
D&A For EBITDA	4,405	4,317	4,085	3,522	2,333	2,558
EBIT	5,172	4,187	2,181	7,889	8,927	6,756
EBIT Margin	7.36%	6.16%	3.37%	11.70%	14.61%	12.15%
Effective Tax Rate	11.18%	14.30%	27.69%	22.98%	21.70%	27.41%
Advertising Expenses	-	274.81	433	247.64	231.54	28.24

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