Hwaseung Enterprise Co., Ltd. (KRX:241590)

Hwaseung Enterprise Income Statement

Financials in millions KRW. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Revenue	1,652,639	1,609,617	1,213,832	1,654,030	1,138,575	1,115,756
Other Revenue	-0	-0	-	-	-0	0
Revenue	1,652,639	1,609,617	1,213,832	1,654,030	1,138,575	1,115,756
Revenue Growth (YoY)	14.11%	32.61%	-26.61%	45.27%	2.04%	-7.14%
Cost of Revenue	1,450,422	1,389,644	1,052,121	1,456,743	1,023,459	957,320
Gross Profit	202,217	219,972	161,711	197,287	115,116	158,436
Selling, General & Admin	122,471	119,063	120,279	123,643	89,989	83,033
Research & Development	3,509	5,417	16,068	8,840	7,261	909.08
Amortization of Goodwill & Intangibles	3,035	2,790	2,685	2,386	2,009	1,917
Other Operating Expenses	1,523	1,528	1,389	2,109	1,699	1,588
Operating Expenses	140,203	137,613	148,773	144,500	108,017	95,976
Operating Income	62,013	82,360	12,938	52,787	7,099	62,461
Interest Expense	-39,670	-40,165	-36,796	-20,671	-10,337	-12,908
Interest & Investment Income	7,514	7,803	8,508	3,689	1,940	1,771
Earnings From Equity Investments	-106.87	-268.16	-58.87	-191.92	-569.4	324.02
Currency Exchange Gain (Loss)	3,131	9,581	3,843	-24,386	5,727	-895.46
Other Non Operating Income (Expenses)	-17,981	-17,453	-2,972	-1,414	1,637	-1,273
EBT Excluding Unusual Items	14,900	41,858	-14,539	9,812	5,496	49,479
Gain (Loss) on Sale of Investments	-315.9	-315.9	-	-	-1,626	-
Gain (Loss) on Sale of Assets	-1,475	-734.68	-4,104	-3,318	-452.83	-778.66
Asset Writedown	-	-	-	-	-1,265	-
Pretax Income	13,109	40,807	-18,643	6,494	2,152	48,701
Income Tax Expense	6,105	6,448	6,641	14,034	9,000	7,242
Earnings From Continuing Operations	7,004	34,359	-25,283	-7,540	-6,848	41,459
Minority Interest in Earnings	-1,540	-1,251	-993.92	-2,464	334	-1,359
Net Income	5,465	33,108	-26,277	-10,004	-6,514	40,100
Net Income to Common	5,465	33,108	-26,277	-10,004	-6,514	40,100
Net Income Growth	-2.23%	-	-	-	-	-35.78%
Shares Outstanding (Basic)	60	61	61	61	61	61
Shares Outstanding (Diluted)	84	72	69	69	69	67
Shares Change (YoY)	34.04%	4.24%	0.22%	-0.44%	2.81%	11.20%
EPS (Basic)	90.41	546.44	-433.69	-165.14	-107.57	662.41
EPS (Diluted)	64.63	459.00	-433.69	-165.14	-107.57	595.00
EPS Growth	-27.35%	-	-	-	-	-42.31%
Free Cash Flow	30,266	28,563	4,475	-35,952	-105,779	-18,882
Free Cash Flow Per Share	359.40	396.25	64.72	-521.07	-1526.33	-280.12
Dividend Per Share	45.000	45.000	-	-	45.000	45.000
Gross Margin	12.24%	13.67%	13.32%	11.93%	10.11%	14.20%
Operating Margin	3.75%	5.12%	1.07%	3.19%	0.62%	5.60%
Profit Margin	0.33%	2.06%	-2.17%	-0.60%	-0.57%	3.59%
Free Cash Flow Margin	1.83%	1.77%	0.37%	-2.17%	-9.29%	-1.69%
EBITDA	140,082	153,778	83,930	126,113	68,793	120,139
EBITDA Margin	8.48%	9.55%	6.91%	7.63%	6.04%	10.77%
D&A For EBITDA	78,069	71,418	70,992	73,326	61,694	57,678
EBIT	62,013	82,360	12,938	52,787	7,099	62,461
EBIT Margin	3.75%	5.12%	1.07%	3.19%	0.62%	5.60%
Effective Tax Rate	46.57%	15.80%	-	216.11%	418.29%	14.87%
Advertising Expenses	-	-	2.23	7.08	1.59	4.9

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