HORNG SHIUE HOLDING Income Statement

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

Millions TWD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
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	Dec '20 Dec 31, 2020
Revenue	1,782	1,912	1,675	1,698	1,500	757.59
Revenue Growth (YoY)	-7.65%	14.14%	-1.38%	13.22%	97.98%	-57.13%
Cost of Revenue	1,600	1,746	1,664	1,561	1,423	903.29
Gross Profit	182.84	165.07	11.17	136.89	76.75	-145.7
Selling, General & Admin	104.58	106.73	104.93	91.43	101.95	94.04
Research & Development	31.75	27.66	17.8	51.79	42.81	26.06
Operating Expenses	140.38	131.67	126.8	122.09	87.08	214.01
Operating Income	42.45	33.4	-115.64	14.8	-10.34	-359.71
Interest Expense	-25.48	-28.7	-38.55	-66.7	-80.31	-38.02
Interest & Investment Income	4.48	4.38	4.71	2.06	1.32	3.19
Currency Exchange Gain (Loss)	-5.81	-4.19	-3.79	8.54	1.5	12.63
Other Non Operating Income (Expenses)	8.44	25.29	26.92	24.69	10.82	60.3
EBT Excluding Unusual Items	24.08	30.19	-126.33	-16.62	-77.01	-321.61
Gain (Loss) on Sale of Investments	-	-	-0.05	0.43	-	-
Gain (Loss) on Sale of Assets	0.15	-0.21	-0.27	-0.65	-2.91	1.68
Pretax Income	24.23	29.98	-126.65	-16.84	-79.91	-319.94
Income Tax Expense	2.47	13.24	17.69	11.81	-0.43	-35.05
Net Income	21.76	16.73	-144.34	-28.64	-79.48	-284.89
Net Income to Common	21.76	16.73	-144.34	-28.64	-79.48	-284.89
Shares Outstanding (Basic)	69	69	65	44	44	44
Shares Outstanding (Diluted)	69	69	65	44	44	44
Shares Change (YoY)	-0.01%	6.39%	47.90%	0.67%	0.06%	1.32%
EPS (Basic)	0.31	0.24	-2.21	-0.65	-1.81	-6.51
EPS (Diluted)	0.31	0.24	-2.21	-0.65	-1.82	-6.51
Free Cash Flow	126.9	320.91	4.04	38.91	269.59	-40.23
Free Cash Flow Per Share	1.83	4.63	0.06	0.88	6.16	-0.92
Gross Margin	10.26%	8.63%	0.67%	8.06%	5.12%	-19.23%
Operating Margin	2.38%	1.75%	-6.91%	0.87%	-0.69%	-47.48%
Profit Margin	1.22%	0.88%	-8.62%	-1.69%	-5.30%	-37.60%
Free Cash Flow Margin	7.12%	16.79%	0.24%	2.29%	17.97%	-5.31%
EBITDA	116.98	113.22	-26.57	108.12	86.93	-291.66
EBITDA Margin	6.56%	5.92%	-1.59%	6.37%	5.80%	-38.50%
D&A For EBITDA	74.53	79.82	89.07	93.33	97.27	68.06
EBIT	42.45	33.4	-115.64	14.8	-10.34	-359.71
EBIT Margin	2.38%	1.75%	-6.91%	0.87%	-0.69%	-47.48%
Effective Tax Rate	10.21%	44.17%	-	-	-	-

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