Pan Ocean Cash Flow 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
Net Income	219,861	268,143	245,041	677,081	549,305	85,303
Depreciation & Amortization	469,054	469,054	490,261	666,302	360,390	209,732
Other Amortization	-	-	-	-	-	152.36
Loss (Gain) From Sale of Assets	743	743	1,059	-1,094	1,947	7,066
Asset Writedown & Restructuring Costs	59,276	59,276	58,084	59,395	623	70,539
Loss (Gain) From Sale of Investments	4,201	4,201	-8,997	-1,961	3	18.5
Loss (Gain) on Equity Investments	-25,904	-25,904	6,426	-26,602	-8,929	-4,957
Provision & Write-off of Bad Debts	-3,263	-3,263	2,105	1,378	471	781.38
Other Operating Activities	35,343	-81,576	-65,890	5,943	-7,137	15,720
Change in Accounts Receivable	-31,344	-31,344	47,713	-4,776	-85,066	-25,303
Change in Inventory	12,729	12,729	12,296	-13,618	-44,272	4,165
Change in Accounts Payable	2,110	2,110	-25,885	-9,184	81,416	25,980
Change in Other Net Operating Assets	1,999	1,999	-11,421	57,899	-81,064	44,546
Operating Cash Flow	744,805	676,168	750,792	1,410,763	767,687	433,744
Operating Cash Flow Growth	0.64%	-9.94%	-46.78%	83.77%	76.99%	8.17%
Capital Expenditures	-226,690	-384,968	-313,364	-344,680	-333,650	-266,924
Sale of Property, Plant & Equipment	5,687	47	1,999	16,651	213	17,166
Sale (Purchase) of Intangibles	-827	-164	-3,234	-1,151	-143	-582.22
Investment in Securities	-136,571	-164,847	222,671	-284,624	-33,932	-69,823
Other Investing Activities	-151,445	-110,488	7,481	36,365	16,344	9,600
Investing Cash Flow	-509,846	-660,420	-84,447	-577,439	-351,168	-310,564
Long-Term Debt Issued	-	628,365	404,724	209,782	610,969	291,182
Long-Term Debt Repaid	-	-789,678	-788,810	-781,616	-732,230	-406,878
Net Debt Issued (Repaid)	-187,273	-161,313	-384,086	-571,834	-121,261	-115,696
Dividends Paid	-64,139	-45,434	-80,179	-53,454	-26,727	-
Other Financing Activities	-	-	-5,871	-17,448	-10,000	-12,437
Financing Cash Flow	-251,412	-206,747	-470,136	-642,736	-157,988	-128,133
Foreign Exchange Rate Adjustments	28,622	104,062	11,943	32,449	25,501	2,776
Miscellaneous Cash Flow Adjustments	-	-	-	-	-	-185.01
Net Cash Flow	12,169	-86,937	208,152	223,037	284,032	-2,362
Free Cash Flow	518,115	291,200	437,428	1,066,083	434,037	166,820
Free Cash Flow Growth	62.86%	-33.43%	-58.97%	145.62%	160.18%	-10.32%
Free Cash Flow Margin	9.20%	5.64%	10.03%	16.61%	9.40%	7.25%
Free Cash Flow Per Share	969.36	544.74	818.28	1994.28	811.94	312.06
Cash Interest Paid	249,291	199,859	144,625	75,325	46,002	42,884
Cash Income Tax Paid	41,092	4,568	5,202	4,996	4,332	1,024
Levered Free Cash Flow	471,647	189,047	435,324	849,875	225,031	121,164
Unlevered Free Cash Flow	555,346	272,746	511,915	897,411	252,266	145,592
Change in Working Capital	-14,506	-14,506	22,703	30,321	-128,986	49,388

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.