Shindaeyang Paper Income Statement

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

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	652,125	658,502	645,360	676,402	681,566	609,205
Other Revenue	-0	-0	-	-	-0	-
Revenue	652,125	658,502	645,360	676,402	681,566	609,205
Revenue Growth (YoY)	-0.12%	2.04%	-4.59%	-0.76%	11.88%	-5.82%
Cost of Revenue	548,939	554,393	514,947	556,325	556,804	475,120
Gross Profit	103,186	104,110	130,413	120,077	124,762	134,085
Selling, General & Admin	73,311	72,434	69,609	66,829	68,304	67,507
Amortization of Goodwill & Intangibles	0.11	92.16	368.34	368.34	368.34	368.34
Other Operating Expenses	1,026	740.63	687.85	853.99	896.05	432.09
Operating Expenses	75,619	75,357	71,944	69,396	69,914	69,481
Operating Income	27,567	28,753	58,469	50,681	54,848	64,604
Interest Expense	-3,050	-3,391	-4,675	-3,859	-2,272	-1,877
Interest & Investment Income	5,079	8,458	7,339	3,461	1,579	2,043
Earnings From Equity Investments	-154.31	17.16	385.73	885.78	627.63	405.21
Currency Exchange Gain (Loss)	2,076	9,029	-1,901	4,244	3,568	-2,100
Other Non Operating Income (Expenses)	9,272	6,344	6,187	6,474	7,868	-1,793
EBT Excluding Unusual Items	40,789	49,210	65,805	61,887	66,217	61,281
Gain (Loss) on Sale of Investments	-253.42	-313.84	788.83	-840.01	1,567	-0.11
Gain (Loss) on Sale of Assets	243.36	-56.92	594.48	662.96	223.77	-15.29
Asset Writedown	-1,845	-1,845	-	-	-3,348	-946.71
Pretax Income	38,934	46,994	67,188	61,710	78,473	60,319
Income Tax Expense	9,008	13,730	15,937	10,429	18,038	14,613
Earnings From Continuing Operations	29,926	33,264	51,252	51,281	60,435	45,706
Net Income to Company	29,926	33,264	51,252	51,281	60,435	45,706
Minority Interest in Earnings	1,766	1,864	-3,391	-3,700	-6,321	-3,277
Net Income	31,692	35,129	47,860	47,581	54,114	42,430
Net Income to Common	31,692	35,129	47,860	47,581	54,114	42,430
Net Income Growth	16.53%	-26.60%	0.59%	-12.07%	27.54%	-23.97%
Shares Outstanding (Basic)	30	31	35	36	37	40
Shares Outstanding (Diluted)	30	31	35	36	37	40
Shares Change (YoY)	-7.18%	-11.40%	-2.39%	-2.39%	-6.73%	-1.69%
EPS (Basic)	1065.15	1126.17	1359.38	1319.16	1464.40	1070.97
EPS (Diluted)	1065.15	1126.17	1359.38	1319.16	1464.40	1070.97
EPS Growth	25.54%	-17.16%	3.05%	-9.92%	36.73%	-22.67%
Free Cash Flow	5,959	15,832	60,779	41,882	4,014	63,575
Free Cash Flow Per Share	200.27	507.55	1726.32	1161.14	108.62	1604.71
Dividend Per Share	200.000	200.000	-	-	-	-
Gross Margin	15.82%	15.81%	20.21%	17.75%	18.30%	22.01%
Operating Margin	4.23%	4.37%	9.06%	7.49%	8.05%	10.61%
Profit Margin	4.86%	5.33%	7.42%	7.03%	7.94%	6.97%
Free Cash Flow Margin	0.91%	2.40%	9.42%	6.19%	0.59%	10.44%
EBITDA	54,805	58,843	89,713	77,929	81,312	93,551
EBITDA Margin	8.40%	8.94%	13.90%	11.52%	11.93%	15.36%
D&A For EBITDA	27,239	30,090	31,243	27,248	26,464	28,947
EBIT	27,567	28,753	58,469	50,681	54,848	64,604
EBIT Margin	4.23%	4.37%	9.06%	7.49%	8.05%	10.61%
Effective Tax Rate	23.14%	29.22%	23.72%	16.90%	22.99%	24.23%
Advertising Expenses	-	137.68	185.51	160.55	175.78	193.88

Source: S&P Global Market Intelligence. Standard template. Financial Sources.