SeAH Steel 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	29,999	137,062	188,834
Depreciation & Amortization	35,240	31,062	30,668
Loss (Gain) From Sale of Assets	-504	-708	684
Asset Writedown & Restructuring Costs	-	-	3,979
Loss (Gain) on Equity Investments	6	257	120
Other Operating Activities	-38,470	17,124	-33,077
Change in Accounts Receivable	-36,533	86,688	-74,079
Change in Inventory	-56,569	46,610	-4,478
Change in Accounts Payable	-29,124	-1,724	-7,945
Change in Other Net Operating Assets	-12,353	-16,483	6,461
Operating Cash Flow	-108,308	299,889	111,167
Operating Cash Flow Growth	-	169.76%	-
Capital Expenditures	-45,759	-90,352	-49,877
Sale of Property, Plant & Equipment	1,069	1,230	241.58
Cash Acquisitions	-	-68,883	-
Sale (Purchase) of Intangibles	232	-551.51	-
Investment in Securities	-93,246	-58,595	-46,042
Other Investing Activities	-1,203	-288.18	-1,170
Investing Cash Flow	-138,618	-217,287	-96,635
Short-Term Debt Issued	115,854	187,493	12,301
Long-Term Debt Issued	160,000	140,000	-
Total Debt Issued	275,854	327,493	12,301
Short-Term Debt Repaid	-194,892	-245,539	-60,000
Long-Term Debt Repaid	-1,732	-1,382	-2,085
Total Debt Repaid	-196,624	-246,921	-62,085
Net Debt Issued (Repaid)	79,229	80,572	-49,784
Dividends Paid	-19,601	-22,401	-16,801
Other Financing Activities	-516.43	-547.61	100
Financing Cash Flow	59,112	57,623	-66,484
Foreign Exchange Rate Adjustments	-1,415	4,112	-290.28
Miscellaneous Cash Flow Adjustments	-0	-	-
Net Cash Flow	-189,229	144,336	-52,243
Free Cash Flow	-154,067	209,536	61,290
Free Cash Flow Growth	-	241.88%	-
Free Cash Flow Margin	-10.38%	11.58%	3.29%
Free Cash Flow Per Share	-55021.82	74831.77	21888.47
Cash Interest Paid	10,909	7,137	9,327
Cash Income Tax Paid	63,895	61,909	68,111
Levered Free Cash Flow	-168,091	187,441	-
Unlevered Free Cash Flow	-160,867	192,371	-
Change in Working Capital	-134,579	115,091	-80,041

Source: S&P Global Market Intelligence. Standard template. Financial Sources.