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	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating Revenue	68,049	64,915	69,976	61,106	55,609	61,339
Other Revenue	-0	-0	-	-	-0	-
Revenue	68,049	64,915	69,976	61,106	55,609	61,339
Revenue Growth (YoY)	2.22%	-7.23%	14.51%	9.89%	-9.34%	9.24%
Cost of Revenue	54,355	52,900	49,151	43,749	41,223	43,972
Gross Profit	13,694	12,015	20,825	17,357	14,386	17,367
Selling, General & Admin	9,852	10,062	9,512	7,593	6,751	7,527
Research & Development	358.03	287.94	433.77	248.29	287.39	135.72
Other Operating Expenses	180.8	355.54	352.46	314.06	297.47	258.1
Operating Expenses	11,457	11,713	11,096	8,430	7,630	8,262
Operating Income	2,237	301.61	9,729	8,927	6,756	9,105
Interest Expense	-452.82	-357.89	-352.71	-241.25	-272.28	-394.58
Interest & Investment Income	1,448	1,549	373.3	24.07	34.01	38.1
Earnings From Equity Investments	-186.08	-282.35	-7.37	123.44	-212.61	-
Currency Exchange Gain (Loss)	-173.75	361.48	223.43	709.76	-525.59	216.75
Other Non Operating Income (Expenses)	53.64	31.76	57.58	4.28	159.83	-321.05
EBT Excluding Unusual Items	2,926	1,603	10,023	9,547	5,940	8,644
Gain (Loss) on Sale of Assets	4.46	16	-36.95	-11.47	-19.02	-693.3
Asset Writedown	-	-	-	-	13.92	68.33
Pretax Income	2,931	1,619	9,986	9,536	5,934	8,019
Income Tax Expense	277.88	552.98	2,277	2,069	1,626	2,039
Net Income	2,653	1,066	7,709	7,466	4,308	5,981
Net Income to Common	2,653	1,066	7,709	7,466	4,308	5,981
Net Income Growth	-17.66%	-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)	-0.03%	13.64%	4.89%	-	-0.00%	-
EPS (Basic)	414.70	166.68	1369.50	1391.23	802.74	1114.37
EPS (Diluted)	414.70	166.68	1369.50	1391.23	802.74	1114.37
EPS Growth	-17.63%	-87.83%	-1.56%	73.31%	-27.97%	-5.75%
Free Cash Flow	10,881	1,091	-3,313	8,032	7,575	8,238
Free Cash Flow Per Share	1700.99	170.55	-588.46	1496.57	1411.51	1534.95
Dividend Per Share	40.000	40.000	-	-	-	-
Gross Margin	20.12%	18.51%	29.76%	28.40%	25.87%	28.31%
Operating Margin	3.29%	0.46%	13.90%	14.61%	12.15%	14.84%
Profit Margin	3.90%	1.64%	11.02%	12.22%	7.75%	9.75%
Free Cash Flow Margin	15.99%	1.68%	-4.73%	13.14%	13.62%	13.43%
EBITDA	6,531	4,386	13,250	11,260	9,315	11,925
EBITDA Margin	9.60%	6.76%	18.94%	18.43%	16.75%	19.44%
D&A For EBITDA	4,294	4,085	3,522	2,333	2,558	2,820
EBIT	2,237	301.61	9,729	8,927	6,756	9,105
EBIT Margin	3.29%	0.46%	13.90%	14.61%	12.15%	14.84%
Effective Tax Rate	9.48%	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.