HORNG SHIUE HOLDING Income Statement

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

Millions TWD. 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
Revenue	1,739	1,912	1,675	1,698	1,500
Revenue Growth (YoY)	-9.02%	14.14%	-1.38%	13.22%	97.98%
Cost of Revenue	1,489	1,746	1,664	1,561	1,423
Gross Profit	250.32	165.07	11.17	136.89	76.75
Selling, General & Admin	102.58	106.73	104.93	91.43	101.95
Research & Development	35.16	27.66	17.8	51.79	42.81
Operating Expenses	146.83	131.67	126.8	122.09	87.08
Operating Income	103.49	33.4	-115.64	14.8	-10.34
Interest Expense	-24.28	-28.7	-38.55	-66.7	-80.31
Interest & Investment Income	4.84	4.38	4.71	2.06	1.32
Currency Exchange Gain (Loss)	-2.98	-4.19	-3.79	8.54	1.5
Other Non Operating Income (Expenses)	7.84	25.29	26.92	24.69	10.82
EBT Excluding Unusual Items	88.91	30.19	-126.33	-16.62	-77.01
Gain (Loss) on Sale of Investments	-	-	-0.05	0.43	-
Gain (Loss) on Sale of Assets	0.05	-0.21	-0.27	-0.65	-2.91
Pretax Income	88.96	29.98	-126.65	-16.84	-79.91
Income Tax Expense	4.36	13.24	17.69	11.81	-0.43
Net Income	84.59	16.73	-144.34	-28.64	-79.48
Net Income to Common	84.59	16.73	-144.34	-28.64	-79.48
Net Income Growth	405.50%	-	-	-	-
Shares Outstanding (Basic)	69	69	65	44	44
Shares Outstanding (Diluted)	69	69	65	44	44
Shares Change (YoY)	-	6.39%	47.90%	0.67%	0.06%
EPS (Basic)	1.22	0.24	-2.21	-0.65	-1.81
EPS (Diluted)	1.22	0.24	-2.21	-0.65	-1.82
EPS Growth	408.06%	-	-	-	-
Free Cash Flow	48.87	320.91	4.04	38.91	269.59
Free Cash Flow Per Share	0.70	4.63	0.06	0.88	6.16
Gross Margin	14.39%	8.63%	0.67%	8.06%	5.12%
Operating Margin	5.95%	1.75%	-6.91%	0.87%	-0.69%
Profit Margin	4.86%	0.88%	-8.62%	-1.69%	-5.30%
Free Cash Flow Margin	2.81%	16.79%	0.24%	2.29%	17.97%
EBITDA	178.5	113.22	-26.57	108.12	86.93
EBITDA Margin	10.26%	5.92%	-1.59%	6.37%	5.80%
D&A For EBITDA	75	79.82	89.07	93.33	97.27
EBIT	103.49	33.4	-115.64	14.8	-10.34
EBIT Margin	5.95%	1.75%	-6.91%	0.87%	-0.69%
Effective Tax Rate	4.91%	44.17%	-	-	-

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