Twinhead International Cash Flow 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
Net Income	220.02	164.72	108.82	79.6	28.18
Depreciation & Amortization	43.23	40.78	44.31	40.42	40.59
Loss (Gain) From Sale of Assets	-	-	-17.21	-	-
Provision & Write-off of Bad Debts	0.07	-	0.02	0.07	-
Other Operating Activities	0.11	-0.72	0.97	-1.03	-2
Change in Accounts Receivable	0.92	-23.53	37.76	-19.85	-7.41
Change in Inventory	-27.63	-39.12	-4.24	-43.25	-4.78
Change in Accounts Payable	-3.26	40.93	-9.66	34.43	-54.4
Change in Unearned Revenue	-46.42	51.31	9.48	-7.88	-
Change in Other Net Operating Assets	29.18	20.3	9.28	21.98	0.6
Operating Cash Flow	216.22	254.67	179.53	104.49	0.79
Operating Cash Flow Growth	-15.10%	41.86%	71.81%	13210.96%	-99.14%
Capital Expenditures	-11.86	-6.7	-3.75	-2.93	-1.73
Sale of Property, Plant & Equipment	-	-	20.07	-	-
Investment in Securities	-3.77	-	0.58	-	5.19
Other Investing Activities	-18.16	-12.46	-14.12	-10.61	-6.43
Investing Cash Flow	-33.79	-19.16	2.78	-13.54	-2.97
Short-Term Debt Issued	1,010	613	120	80	210
Total Debt Issued	1,010	613	120	80	210
Short-Term Debt Repaid	-1,160	-700	-147	-121	-210
Long-Term Debt Repaid	-20.55	-20.14	-20.14	-16.89	-16.42
Total Debt Repaid	-1,181	-720.14	-167.14	-137.89	-226.42
Net Debt Issued (Repaid)	-170.55	-107.14	-47.14	-57.89	-16.42
Preferred Dividends Paid	-0	-0	-0	-0.41	-
Common Dividends Paid	-	-	-	-24.8	-
Dividends Paid	-0	-0	-0	-25.2	-
Other Financing Activities	-1.33	-1.61	-0.7	-0.63	-1.07
Financing Cash Flow	-171.88	-108.74	-47.84	-83.72	-17.49
Foreign Exchange Rate Adjustments	0.86	-1.39	0.02	-13.31	3.6
Net Cash Flow	11.41	125.38	134.49	-6.07	-16.08
Free Cash Flow	204.36	247.97	175.78	101.56	-0.94
Free Cash Flow Growth	-17.59%	41.07%	73.08%	-	-
Free Cash Flow Margin	13.57%	19.84%	16.27%	10.87%	-0.11%
Free Cash Flow Per Share	3.88	4.71	3.35	1.93	-0.02
Cash Interest Paid	11.33	13.47	12.58	11.13	11.14
Cash Income Tax Paid	1.92	1.98	0.7	0.27	0.5
Levered Free Cash Flow	96.37	144.74	119.91	28.99	-28.93
Unlevered Free Cash Flow	103.41	153.02	127.84	36.15	-22.15
Change in Working Capital	-47.21	49.89	42.62	-14.57	-65.99

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