SOCAR 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	-18,389	-31,009	-42,334	-18,138	6,277
Depreciation & Amortization	98,760	104,152	85,917	79,562	59,908
Loss (Gain) From Sale of Assets	3,694	2,111	4,975	2,344	664.06
Asset Writedown & Restructuring Costs	22,674	-	-	-	56.71
Loss (Gain) From Sale of Investments	-5,801	-2,092	3,323	-	-26,662
Loss (Gain) on Equity Investments	-1,501	355.56	7,045	10,970	630.13
Stock-Based Compensation	3,963	3,589	6,247	3,849	1,413
Provision & Write-off of Bad Debts	2,327	1,801	3,337	294.28	887.85
Other Operating Activities	4,690	2,583	3,725	2,912	-11,910
Change in Accounts Receivable	-3,898	382.87	-7,201	-5,021	8,296
Change in Inventory	-	-	-	-	1,282
Change in Accounts Payable	-	-	-	-1.24	-2.59
Change in Unearned Revenue	-	439.06	-	2,524	2,038
Change in Other Net Operating Assets	-55,748	-79,023	-174,636	-142,016	-44,620
Operating Cash Flow	50,773	3,290	-109,601	-62,721	-1,742
Operating Cash Flow Growth	1443.36%	-	-	-	-
Capital Expenditures	-16,903	-18,581	-2,989	-7,026	-10,464
Sale of Property, Plant & Equipment	198.77	184.92	36.47	465.61	3,318
Cash Acquisitions	-	-	-	-5,016	-3,626
Sale (Purchase) of Intangibles	-3,096	-2,131	-1,300	-4,070	-91.67
Sale (Purchase) of Real Estate	-62.62	-	-	-	3,655
Investment in Securities	5,034	8,191	-5,367	-4,072	-87.4
Other Investing Activities	-119.64	-464.82	45.91	-175.33	2,132
Investing Cash Flow	-13,658	-13,431	-9,713	-19,722	-3,814
Short-Term Debt Issued	22,222	15,181	15,500	-	-
Long-Term Debt Issued	165,038	168,257	276,966	195,757	107,086
Total Debt Issued	187,260	183,438	292,466	195,757	107,086
Short-Term Debt Repaid	-20,499	-18,350	-11,461	-2,670	-2,198
Long-Term Debt Repaid	-184,558	-191,424	-185,528	-139,577	-92,477
Total Debt Repaid	-205,057	-209,774	-196,989	-142,247	-94,674
Net Debt Issued (Repaid)	-17,797	-26,336	95,477	53,510	12,411
Issuance of Common Stock	79.32	773.02	998.1	101,920	15,390
Other Financing Activities	-733	1,797	60	-1,538	-69.31
Financing Cash Flow	-18,451	-23,766	96,535	153,892	27,732
Miscellaneous Cash Flow Adjustments	-0	-	-	-0	0
Net Cash Flow	18,664	-33,907	-22,779	71,450	22,175
Free Cash Flow	33,870	-15,291	-112,590	-69,746	-12,206
Free Cash Flow Margin	7.20%	-3.54%	-28.26%	-17.54%	-4.22%
Free Cash Flow Per Share	1031.32	-466.16	-3435.36	-2294.31	-577.52
Cash Interest Paid	20,980	23,756	17,961	13,862	10,889
Cash Income Tax Paid	299.53	507.7	1,268	1,165	29.45
Levered Free Cash Flow	81,787	47,483	82,780	68,097	33,031
Unlevered Free Cash Flow	94,836	62,357	94,931	77,390	42,101
Change in Working Capital	-59,646	-78,201	-181,836	-144,514	-33,007

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