Kakao 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	232,501	55,277	-1,012,551	1,358,019	1,387,314	151,601
Depreciation & Amortization	850,180	835,297	760,655	581,431	373,131	266,459
Loss (Gain) From Sale of Assets	-38,820	6,984	4,121	-182,231	-53,813	-92,624
Asset Writedown & Restructuring Costs	413,533	417,336	1,885,246	736,577	295,342	456,000
Loss (Gain) From Sale of Investments	85,043	59,393	38,977	-42,887	-1,653,249	-327,954
Loss (Gain) on Equity Investments	-69,269	-7,010	151,464	-1,446,330	-510,093	-8,692
Stock-Based Compensation	47,119	73,275	84,240	158,742	148,020	43,316
Provision & Write-off of Bad Debts	43,723	37,551	1,040	10,795	3,557	2,709
Other Operating Activities	-132,440	-223,299	-820,046	-35,568	1,525,384	296,940
Change in Accounts Receivable	2,028	-20,345	-108,007	-69,034	-19,847	-60,327
Change in Inventory	-9,509	473.36	43,477	-73,437	-11,020	-4,387
Change in Accounts Payable	127,136	-26,981	417,774	64,245	457,572	103,516
Change in Other Net Operating Assets	-344,093	42,508	-105,291	-381,947	-635,726	144,540
Operating Cash Flow	1,207,132	1,250,459	1,341,098	678,376	1,306,572	971,096
Operating Cash Flow Growth	-18.26%	-6.76%	97.69%	-48.08%	34.55%	29.02%
Capital Expenditures	-392,998	-379,616	-575,150	-452,916	-216,219	-183,147
Sale of Property, Plant & Equipment	16,275	31,906	13,898	14,340	3,506	45,715
Cash Acquisitions	-49,340	-988.67	-1,215,429	-174,036	-1,262,002	-277,818
Divestitures	478.66	23,868	-7,048	34,851	2,435	-
Sale (Purchase) of Intangibles	-103,149	-87,312	-135,228	-90,620	-76,402	-80,615
Investment in Securities	238,424	398,428	188,494	-119,953	-1,703,569	-748,682
Other Investing Activities	185,544	24,137	-49,468	-785,771	-43,894	-16,149
Investing Cash Flow	-104,765	10,423	-1,779,932	-1,574,105	-3,341,009	-1,260,696
Short-Term Debt Issued	-	1,441,258	1,386,091	1,263,672	1,184,504	184,356
Long-Term Debt Issued	-	225,060	202,000	710,478	518,562	387,523
Total Debt Issued	681,059	1,666,318	1,588,091	1,974,150	1,703,066	571,879
Short-Term Debt Repaid	-	-1,805,466	-1,444,749	-1,560,734	-456,913	-76,077
Long-Term Debt Repaid	-	-250,639	-218,490	-148,589	-112,039	-71,967
Total Debt Repaid	-1,196,083	-2,056,106	-1,663,240	-1,709,323	-568,953	-148,044
Net Debt Issued (Repaid)	-515,024	-389,788	-75,149	264,827	1,134,114	423,835
Issuance of Common Stock	30,782	22,813	34,257	72,490	64,551	79,341
Dividends Paid	-38,944	-43,475	-54,575	-22,990	-12,902	-13,263
Other Financing Activities	-148,628	-110,868	1,115,053	97,494	3,255,403	815,448
Financing Cash Flow	-671,814	-521,317	1,019,587	411,821	4,441,166	1,305,360
Foreign Exchange Rate Adjustments	46,463	47,894	-27,471	-5,884	24,655	-39,670
Miscellaneous Cash Flow Adjustments	-24,632	-31,516	-	0	0	-
Net Cash Flow	452,385	755,942	553,281	-489,791	2,431,383	976,091
Free Cash Flow	814,134	870,843	765,948	225,461	1,090,353	787,950
Free Cash Flow Growth	-16.60%	13.69%	239.73%	-79.32%	38.38%	21.92%
Free Cash Flow Margin	10.26%	11.06%	10.14%	3.32%	18.45%	19.35%
Free Cash Flow Per Share	1834.13	1966.48	1751.06	509.36	2461.02	1820.78
Cash Interest Paid	187,626	202,286	168,396	113,101	28,455	11,451
Cash Income Tax Paid	240,700	278,211	303,330	317,923	227,379	77,453
Levered Free Cash Flow	2,854,091	1,251,485	1,872,529	405,824	1,258,080	968,419
Unlevered Free Cash Flow	2,981,411	1,378,805	1,974,265	474,493	1,282,699	980,259
Change in Working Capital	-224,438	-4,345	247,953	-460,172	-209,021	183,342

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