Byucksan Cash Flow Statement

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

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	25,760	22,803	16,235	33,290	9,935	-4,538
Depreciation & Amortization	29,175	28,619	27,656	21,219	16,095	13,519
Loss (Gain) From Sale of Assets	305.47	1,242	171.23	-2,619	-398.96	-533.4
Asset Writedown & Restructuring Costs	-39.4	-39.4	104.78	1,328	904.42	5,048
Loss (Gain) From Sale of Investments	-415.11	-1,306	-1,271	-3,366	-508.5	-450.76
Loss (Gain) on Equity Investments	-437.01	-353.06	-	-	179.23	12.99
Stock-Based Compensation	-398.11	-431.29	156.83	156.83	117.62	-
Provision & Write-off of Bad Debts	-191.27	450.24	-747.17	400.6	-150.13	-151.07
Other Operating Activities	-1,206	-1,193	-885.1	11,304	4,461	10,814
Change in Accounts Receivable	13,485	5,754	13,859	-29,336	-7,962	-10,458
Change in Inventory	3,243	1,861	-2,083	-3,492	-4,719	-9,156
Change in Accounts Payable	-5,828	-12,104	-866.96	-6,299	15,889	7,391
Change in Unearned Revenue	-0.11	3.18	28.61	11.8	-385.11	78.46
Change in Other Net Operating Assets	-4,709	-8,905	2,196	5,278	174.24	-4,162
Operating Cash Flow	58,746	36,401	54,555	27,877	33,631	7,412
Operating Cash Flow Growth	78.45%	-33.28%	95.70%	-17.11%	353.73%	-68.27%
Capital Expenditures	-22,157	-25,461	-19,781	-54,063	-70,034	-48,130
Sale of Property, Plant & Equipment	1,502	1,496	32.35	8,125	287.17	1,449
Cash Acquisitions	-16,249	-16,249	-	-	-	-468.87
Sale (Purchase) of Intangibles	663.36	721.31	-299.65	-299.77	-465.5	-133.27
Investment in Securities	37,385	54,415	-55,156	-29,346	49,015	-37,460
Other Investing Activities	3,217	-34.97	1,021	6,001	6,442	1,979
Investing Cash Flow	6,637	10,550	-74,615	-69,899	-14,631	-82,448
Short-Term Debt Issued	-	40,760	57,858	64,162	87,780	68,290
Long-Term Debt Issued	-	15,000	22,500	9,000	43,250	36,000
Total Debt Issued	66,491	55,760	80,358	73,162	131,030	104,290
Short-Term Debt Repaid	-	-48,398	-65,629	-75,575	-69,760	-65,067
Long-Term Debt Repaid	-	-6,773	-2,092	-7,481	-9,064	-9,365
Total Debt Repaid	-64,882	-55,171	-67,721	-83,056	-78,824	-74,432
Net Debt Issued (Repaid)	1,609	588.84	12,637	-9,894	52,206	29,858
Issuance of Common Stock	45.29	45.29	1,180	-	-	99
Repurchase of Common Stock	-	-	-	-3,000	-	-
Dividends Paid	-2,923	-2,923	-3,849	-2,256	-1,182	-893.41
Other Financing Activities	336.79	413.38	123.88	89.34	-1,355	-62.46
Financing Cash Flow	-931.63	-1,875	10,091	-15,060	49,669	29,001
Foreign Exchange Rate Adjustments	305.96	-14.58	229.97	-10.56	-84.33	1.66
Net Cash Flow	64,757	45,062	-9,739	-57,093	68,585	-46,033
Free Cash Flow	36,589	10,940	34,774	-26,186	-36,403	-40,718
Free Cash Flow Growth	194.98%	-68.54%	-	-	-	-
Free Cash Flow Margin	5.95%	1.79%	5.41%	-4.22%	-7.00%	-8.64%
Free Cash Flow Per Share	655.45	195.43	621.31	-464.54	-642.38	-718.52
Cash Interest Paid	8,278	8,439	9,379	8,440	4,911	1,918
Cash Income Tax Paid	4,317	4,242	8,737	3,264	4,900	2,829
Levered Free Cash Flow	22,985	-5,132	20,586	-43,218	-27,258	-35,722
Unlevered Free Cash Flow	28,410	329.31	26,680	-38,491	-24,810	-34,562
Change in Working Capital	6,192	-13,391	13,135	-33,837	2,996	-16,308