SAMWONSTEEL 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	10,702	13,243	16,609	13,013	8,804
Depreciation & Amortization	6,637	6,964	6,975	6,557	6,550
Loss (Gain) From Sale of Assets	-90.42	93.1	-147.45	50.65	-45.91
Loss (Gain) on Equity Investments	990.11	2,383	-94.9	1,806	693.37
Provision & Write-off of Bad Debts	81.44	-136.2	18.59	260.05	-22.79
Other Operating Activities	3,625	-1,302	2,050	5,203	2,751
Change in Accounts Receivable	-8,251	13,673	-1,874	-26,071	2,274
Change in Inventory	10,070	2,391	-3,821	1,799	-18,500
Change in Accounts Payable	4,961	-16,964	-1,569	5,895	6,563
Change in Other Net Operating Assets	4,596	-1,166	-307.83	-2,288	-2,193
Operating Cash Flow	33,322	19,179	17,837	6,225	6,874
Operating Cash Flow Growth	73.74%	7.52%	186.56%	-9.44%	-41.57%
Capital Expenditures	-17,830	-7,193	-3,342	-11,477	-7,366
Sale of Property, Plant & Equipment	1	33.18	-	892.9	45.91
Sale (Purchase) of Intangibles	-	-	-302.82	-	-
Investment in Securities	-16,699	-17,189	-24,796	37,999	-3.49
Other Investing Activities	3.33	1.5	0	-	2
Investing Cash Flow	-34,407	-24,432	-28,472	27,295	-7,457
Dividends Paid	-4,371	-4,371	-4,173	-4,173	-4,173
Financing Cash Flow	-4,371	-4,371	-4,173	-4,173	-4,173
Foreign Exchange Rate Adjustments	-32.28	36.79	9.87	-1,323	-6.39
Net Cash Flow	-5,489	-9,587	-14,798	28,024	-4,763
Free Cash Flow	15,492	11,986	14,495	-5,252	-492.18
Free Cash Flow Growth	29.25%	-17.31%	-	-	-
Free Cash Flow Margin	4.31%	3.49%	4.04%	-1.44%	-0.16%
Free Cash Flow Per Share	-	301.62	364.76	-132.17	-12.38
Cash Interest Paid	0.18	4.25	2.11	16.11	4.7
Cash Income Tax Paid	3,402	5,590	4,584	3,227	2,790
Levered Free Cash Flow	5,183	4,065	4,512	-6,851	-4,183
Unlevered Free Cash Flow	5,183	4,067	4,513	-6,841	-4,180
Change in Working Capital	11,376	-2,066	-7,572	-20,665	-11,856

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