Namyang Dairy Products 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	7,108	249.98	-66,250	-78,442	-58,891
Depreciation & Amortization	25,093	31,555	35,497	40,230	54,748
Loss (Gain) From Sale of Assets	-2,421	-5,192	-668.01	46.83	-121
Loss (Gain) From Sale of Investments	-	51.84	-316.07	-23.95	-678.6
Provision & Write-off of Bad Debts	747.42	48.81	21,441	1,353	335.93
Other Operating Activities	5,297	-4,958	8,116	-15,273	-7,801
Change in Accounts Receivable	3,166	10,087	-11,342	-483.1	21,773
Change in Inventory	-5,759	23,713	-10,887	-4,210	34,280
Change in Accounts Payable	7,033	-16,404	5,795	1,822	-2,340
Change in Other Net Operating Assets	-13,413	-4,380	-19,687	-2,655	-2,904
Operating Cash Flow	26,851	34,773	-38,302	-57,634	38,401
Operating Cash Flow Growth	-22.78%	-	-	-	-
Capital Expenditures	-5,571	-2,410	-7,902	-7,252	-9,409
Sale of Property, Plant & Equipment	3,777	4,092	582.27	30.09	417.08
Sale (Purchase) of Intangibles	-3,491	3,805	563.42	277.58	2,822
Investment in Securities	-34,671	17,605	60,991	-8,274	27,310
Other Investing Activities	-68.96	2,283	-1,607	1,196	334.95
Investing Cash Flow	-37,070	28,571	55,407	-10,484	24,207
Short-Term Debt Issued	-	-	-	37,100	-
Total Debt Issued	-	-	-	37,100	-
Short-Term Debt Repaid	-	-	-36,100	-	-
Long-Term Debt Repaid	-3,893	-5,854	-5,905	-7,012	-7,484
Total Debt Repaid	-3,893	-5,854	-42,005	-7,012	-7,484
Net Debt Issued (Repaid)	-3,893	-5,854	-42,005	30,088	-7,484
Issuance of Common Stock	-	-	6,991	-	-
Repurchase of Common Stock	-27,863	-32,299	-	-	-
Common Dividends Paid	-835.71	-889.73	-855.58	-854.4	-854.43
Other Financing Activities	-	-	0	-0	-
Financing Cash Flow	-32,591	-39,043	-35,869	29,234	-8,338
Foreign Exchange Rate Adjustments	-427.98	16.88	173.81	-357.54	-250.26
Net Cash Flow	-43,238	24,318	-18,590	-39,241	54,020
Free Cash Flow	21,280	32,363	-46,204	-64,886	28,992
Free Cash Flow Growth	-34.25%	-	-	-	-
Free Cash Flow Margin	2.33%	3.40%	-4.63%	-6.73%	3.03%
Free Cash Flow Per Share	2658.47	3495.52	-5342.59	-7666.34	3425.46
Cash Interest Paid	510.96	494.51	432	578.74	678.02
Cash Income Tax Paid	467.02	518.72	38.56	4,626	-627.78
Levered Free Cash Flow	25,119	38,827	-13,365	-11,264	55,157
Unlevered Free Cash Flow	25,443	39,141	-13,055	-10,896	55,585
Change in Working Capital	-8,973	13,017	-36,121	-5,525	50,809

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