Kakao 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	491,492	55,277	-1,012,551	1,358,019	1,387,314
Depreciation & Amortization	840,217	835,297	760,655	581,431	373,131
Loss (Gain) From Sale of Assets	-78,892	6,984	4,121	-182,231	-53,813
Asset Writedown & Restructuring Costs	259,981	417,336	1,885,246	736,577	295,342
Loss (Gain) From Sale of Investments	14,433	59,393	38,977	-42,887	-1,653,249
Loss (Gain) on Equity Investments	-193,020	-7,010	151,464	-1,446,330	-510,093
Stock-Based Compensation	42,852	73,275	84,240	158,742	148,020
Provision & Write-off of Bad Debts	11,678	37,551	1,040	10,795	3,557
Other Operating Activities	122,461	-223,299	-820,046	-35,568	1,525,384
Change in Accounts Receivable	-27,254	-20,345	-108,007	-69,034	-19,847
Change in Inventory	-19,955	473.36	43,477	-73,437	-11,020
Change in Accounts Payable	131,362	-26,981	417,774	64,245	457,572
Change in Other Net Operating Assets	-190,590	42,508	-105,291	-381,947	-635,726
Operating Cash Flow	1,404,763	1,250,459	1,341,098	678,376	1,306,572
Operating Cash Flow Growth	12.34%	-6.76%	97.69%	-48.08%	34.55%
Capital Expenditures	-479,169	-379,616	-575,150	-452,916	-216,219
Sale of Property, Plant & Equipment	13,707	31,906	13,898	14,340	3,506
Cash Acquisitions	-49,340	-988.67	-1,215,429	-174,036	-1,262,002
Divestitures	63,796	23,868	-7,048	34,851	2,435
Sale (Purchase) of Intangibles	-102,085	-87,312	-135,228	-90,620	-76,402
Investment in Securities	-123,046	398,428	188,494	-119,953	-1,703,569
Other Investing Activities	197,935	24,137	-49,468	-785,771	-43,894
Investing Cash Flow	-478,201	10,423	-1,779,932	-1,574,105	-3,341,009
Short-Term Debt Issued	410,870	1,441,258	1,386,091	1,263,672	1,184,504
Long-Term Debt Issued	360,383	225,060	202,000	710,478	518,562
Total Debt Issued	771,253	1,666,318	1,588,091	1,974,150	1,703,066
Short-Term Debt Repaid	-971,478	-1,805,466	-1,444,749	-1,560,734	-456,913
Long-Term Debt Repaid	-278,875	-250,639	-218,490	-148,589	-112,039
Total Debt Repaid	-1,250,353	-2,056,106	-1,663,240	-1,709,323	-568,953
Net Debt Issued (Repaid)	-479,101	-389,788	-75,149	264,827	1,134,114
Issuance of Common Stock	32,389	22,813	34,257	72,490	64,551
Dividends Paid	-38,947	-43,475	-54,575	-22,990	-12,902
Other Financing Activities	-222,554	-110,868	1,115,053	97,494	3,255,403
Financing Cash Flow	-708,212	-521,317	1,019,587	411,821	4,441,166
Foreign Exchange Rate Adjustments	-21,214	47,894	-27,471	-5,884	24,655
Miscellaneous Cash Flow Adjustments	6,883	-6,883	-	0	0
Net Cash Flow	204,019	780,575	553,281	-489,791	2,431,383
Free Cash Flow	925,593	870,843	765,948	225,461	1,090,353
Free Cash Flow Growth	6.29%	13.69%	239.73%	-79.32%	38.38%
Free Cash Flow Margin	11.43%	11.07%	10.14%	3.32%	18.45%
Free Cash Flow Per Share	2097.53	1966.48	1751.06	509.36	2461.02
Cash Interest Paid	180,403	202,286	168,396	113,101	28,455
Cash Income Tax Paid	242,890	278,211	303,330	317,923	227,379
Levered Free Cash Flow	1,445,718	1,314,601	1,872,529	405,824	1,258,080
Unlevered Free Cash Flow	1,558,364	1,441,884	1,974,265	474,493	1,282,699
Change in Working Capital	-106,438	-4,345	247,953	-460,172	-209,021

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.