Miwon Specialty Chemical 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	61,303	54,567	18,605	64,824	79,903
Depreciation & Amortization	25,913	26,653	28,214	20,287	16,752
Loss (Gain) From Sale of Assets	-962.33	-461.86	-187.66	-254.66	-4.29
Provision & Write-off of Bad Debts	-776.65	136.77	-412.54	273.04	348.18
Other Operating Activities	-6,319	9,772	-952.52	-4,633	13,614
Change in Accounts Receivable	-10,317	-11,094	37,939	-25,511	-31,177
Change in Inventory	12,797	-17,356	29,835	-6,559	-56,733
Change in Accounts Payable	-3,875	-4,425	-2,438	-10,511	8,912
Change in Other Net Operating Assets	-1,245	-3,833	-1,079	1,513	830.09
Operating Cash Flow	76,518	53,959	109,524	39,429	32,445
Operating Cash Flow Growth	41.81%	-50.73%	177.77%	21.53%	-53.90%
Capital Expenditures	-45,120	-19,698	-25,347	-50,585	-45,605
Sale of Property, Plant & Equipment	1,742	856.9	268.8	316	4.34
Sale (Purchase) of Intangibles	-	2.87	-	-	-3.49
Investment in Securities	-23,126	-50,704	-198.51	-	-7,647
Other Investing Activities	673.16	631.38	940.75	-44.96	72.59
Investing Cash Flow	-65,672	-66,639	-24,206	-50,925	-51,493
Short-Term Debt Issued	10,296	10,344	13,219	26,064	24,442
Total Debt Issued	10,296	10,344	13,219	26,064	24,442
Short-Term Debt Repaid	-9,489	-11,649	-18,187	-17,492	-4,014
Long-Term Debt Repaid	-677.95	-	-687.94	-677.24	-7,806
Total Debt Repaid	-10,167	-11,649	-18,875	-18,169	-11,820
Net Debt Issued (Repaid)	128.38	-1,305	-5,655	7,896	12,622
Issuance of Common Stock	-	-	920.94	1,794	1,225
Repurchase of Common Stock	-6,449	-7,320	-12,791	-4,291	-7,586
Dividends Paid	-13,606	-10,311	-10,485	-11,535	-9,585
Other Financing Activities	-	-698.81	200	0	0
Financing Cash Flow	-19,926	-19,634	-27,810	-6,136	-3,323
Foreign Exchange Rate Adjustments	-585.76	1,606	-225.47	-853.96	2,987
Miscellaneous Cash Flow Adjustments	-	-	-0	-	-
Net Cash Flow	-9,666	-30,709	57,282	-18,485	-19,384
Free Cash Flow	31,398	34,261	84,176	-11,155	-13,161
Free Cash Flow Growth	-8.36%	-59.30%	-	-	-
Free Cash Flow Margin	5.90%	6.73%	19.23%	-1.82%	-2.48%
Free Cash Flow Per Share	6485.25	7009.57	17003.96	-2225.48	-2618.39
Cash Interest Paid	2,055	-4.24	2,944	1,177	54.17
Cash Income Tax Paid	22,710	8,478	12,982	34,176	11,482
Levered Free Cash Flow	11,822	16,922	78,011	-28,848	-32,758
Unlevered Free Cash Flow	13,018	18,260	79,407	-28,134	-32,720
Change in Working Capital	-2,640	-36,708	64,257	-41,067	-78,169

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