DB Securities 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	81,411	50,105	6,170	-77.39	117,284
Depreciation & Amortization, Total	17,468	16,705	15,673	13,091	11,323
Gain (Loss) On Sale of Investments	3,412	-33,463	-73,281	84,328	-7,517
Stock-Based Compensation	2,493	-	-	-	-
Change in Other Net Operating Assets	1,769,113	22,347	248,161	261,933	-952,256
Other Operating Activities	-227,232	-267,962	-217,218	-266,234	-100,280
Operating Cash Flow	-1,024,925	-185,984	-7,341	-116,571	-197,243
Capital Expenditures	-6,311	-4,139	-1,473	-3,687	-6,842
Sale (Purchase) of Intangibles	-2,570	-3,720	-3,363	-9,375	-5,374
Investment in Securities	-657,476	-366,685	-57,505	-3,500	-4,686
Other Investing Activities	1,138	23.65	533.17	2,705	-4,511
Investing Cash Flow	-668,557	-376,272	-64,443	-13,857	-22,750
Short-Term Debt Issued	-	-	100,000	-	-
Long-Term Debt Issued	27,787,985	3,062,398	400,576	283,567	28,412,366
Total Debt Issued	27,787,985	3,062,398	500,576	283,567	28,412,366
Short-Term Debt Repaid	-	-	-	-40,000	-
Long-Term Debt Repaid	-26,010,794	-2,511,832	-346,339	-	-28,025,738
Total Debt Repaid	-26,010,794	-2,511,832	-346,339	-40,000	-28,025,738
Net Debt Issued (Repaid)	1,777,192	550,566	154,237	243,567	386,629
Repurchase of Common Stock	-2,815	-3,578	-	-4,295	-
Dividends Paid	-16,222	-8,557	-7,334	-21,249	-12,965
Other Financing Activities	4,539	-28,076	3,258	-5,760	-2,993
Financing Cash Flow	1,762,694	510,355	150,160	212,263	370,671
Foreign Exchange Rate Adjustments	87.48	361.74	343.28	-612.24	978.64
Net Cash Flow	69,298	-51,540	78,720	81,223	151,657
Free Cash Flow	-1,031,236	-190,123	-8,814	-120,258	-204,085
Free Cash Flow Margin	-63.19%	-19.79%	-1.05%	-11.58%	-16.01%
Free Cash Flow Per Share	-25701.33	-4678.58	-216.14	-2935.27	-4926.14
Cash Interest Paid	241,652	247,406	238,526	136,796	103,400
Cash Income Tax Paid	16,714	7,563	4,145	59,138	16,710

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