Hwaseung R&A Income 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
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
Operating Revenue	715,126	707,131	680,652	657,928	606,909
Other Revenue	-0	-0	-0	-0	0
Revenue	715,126	707,131	680,652	657,928	606,909
Revenue Growth (YoY)	7.18%	3.89%	3.45%	8.41%	-
Cost of Revenue	587,580	578,165	557,816	562,552	518,736
Gross Profit	127,546	128,965	122,836	95,375	88,173
Selling, General & Admin	62,246	58,256	55,360	56,343	51,478
Research & Development	25,358	25,954	22,004	16,146	17,600
Amortization of Goodwill & Intangibles	323.02	259.9	317.93	452.64	557.91
Other Operating Expenses	744.2	747.87	676.35	720.81	906.52
Operating Expenses	99,256	97,467	91,103	80,216	78,437
Operating Income	28,291	31,498	31,733	15,159	9,736
Interest Expense	-8,186	-10,036	-11,075	-9,286	-6,883
Interest & Investment Income	240.51	361.54	359.52	79.9	53.45
Currency Exchange Gain (Loss)	7,373	10,774	2,692	4,656	4,677
Other Non Operating Income (Expenses)	2,752	3,084	2,096	1,811	881.93
EBT Excluding Unusual Items	30,469	35,682	25,806	12,421	8,466
Gain (Loss) on Sale of Investments	4,990	5,052	5,931	2,501	-
Gain (Loss) on Sale of Assets	70.01	2,186	400.66	986.06	150.64
Asset Writedown	-517.29	-517.29	-416.47	-447.07	12.47
Other Unusual Items	-	-	-58.58	-	-
Pretax Income	35,012	42,402	31,662	15,461	8,629
Income Tax Expense	8,334	9,979	7,453	2,776	1,798
Net Income	26,678	32,423	24,209	12,685	6,832
Net Income to Common	26,678	32,423	24,209	12,685	6,832
Net Income Growth	23.82%	33.93%	90.85%	85.67%	-
Shares Outstanding (Basic)	19	19	19	19	19
Shares Outstanding (Diluted)	19	19	19	19	19
Shares Change (YoY)	0.07%	-	-	-	-
EPS (Basic)	1404.20	1707.31	1274.79	667.93	359.73
EPS (Diluted)	1404.20	1707.31	1274.79	667.93	359.73
EPS Growth	23.73%	33.93%	90.85%	85.67%	-
Free Cash Flow	23,373	-27,084	39,611	21,450	27,942
Free Cash Flow Per Share	1230.23	-1426.17	2085.82	1129.48	1471.34
Dividend Per Share	75.000	75.000	50.000	50.000	30.000
Dividend Growth	50.00%	50.00%	-	66.67%	-
Gross Margin	17.84%	18.24%	18.05%	14.50%	14.53%
Operating Margin	3.96%	4.45%	4.66%	2.30%	1.60%
Profit Margin	3.73%	4.58%	3.56%	1.93%	1.13%
Free Cash Flow Margin	3.27%	-3.83%	5.82%	3.26%	4.60%
EBITDA	46,265	50,175	50,356	35,778	32,023
EBITDA Margin	6.47%	7.10%	7.40%	5.44%	5.28%
D&A For EBITDA	17,974	18,676	18,623	20,618	22,286
EBIT	28,291	31,498	31,733	15,159	9,736
EBIT Margin	3.96%	4.45%	4.66%	2.30%	1.60%
Effective Tax Rate	23.80%	23.54%	23.54%	17.95%	20.83%
Advertising Expenses	-	69.91	63.12	73.91	-

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