Visual Photonics Epitaxy Cash Flow 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
Net Income	486.92	671.06	450.23	544.73	855.08	532.59
Depreciation & Amortization	289.91	288.2	284.04	243.27	272.32	285.29
Stock-Based Compensation	13.02	-	-	-	-	-
Provision & Write-off of Bad Debts	-	-	-	-	-	1.61
Other Operating Activities	-69.77	44.96	16.21	-107.47	55.11	1.73
Change in Accounts Receivable	-207.63	242.28	-333.79	295.91	-120.97	48.51
Change in Inventory	-87.88	-114.01	-17.97	-71.14	-43.17	-42.14
Change in Accounts Payable	124.45	-60.31	221.21	-196.52	55.06	13.83
Change in Unearned Revenue	42.33	-10.39	-3.03	4.28	1.06	10.42
Change in Other Net Operating Assets	7.33	24.03	-44.74	-69.55	104.05	-0.6
Operating Cash Flow	598.67	1,086	572.16	643.52	1,179	851.23
Operating Cash Flow Growth	-48.12%	89.77%	-11.09%	-45.40%	38.45%	22.45%
Capital Expenditures	-185.59	-43.76	-71.12	-417.88	-467.3	-95.12
Sale (Purchase) of Intangibles	-3.56	-2.96	-2.9	-2.22	-2.56	-2.11
Investment in Securities	-	-	-	-50	-	-
Other Investing Activities	-	-	2.79	-	-	-
Investing Cash Flow	-189.15	-46.72	-71.23	-470.1	-469.86	-97.23
Short-Term Debt Issued	-	-	-	-	100	-
Long-Term Debt Issued	-	1,900	2,590	1,630	1,280	1,500
Total Debt Issued	1,100	1,900	2,590	1,630	1,380	1,500
Short-Term Debt Repaid	-	-100	-100	-280	-	-90
Long-Term Debt Repaid	-	-2,104	-2,483	-1,242	-1,482	-1,502
Total Debt Repaid	-1,004	-2,204	-2,583	-1,522	-1,482	-1,592
Net Debt Issued (Repaid)	96.09	-303.89	6.69	107.81	-101.64	-91.77
Issuance of Common Stock	98.8	-	-	-	-	0.17
Repurchase of Common Stock	-98.81	-	-	-	-	-0.13
Common Dividends Paid	-591.7	-406.79	-425.28	-739.62	-478.91	-462.26
Financing Cash Flow	-495.61	-710.68	-418.6	-631.81	-580.55	-553.99
Foreign Exchange Rate Adjustments	-3.05	21.59	-9.45	1.14	15.74	-8.19
Net Cash Flow	-89.15	350	72.88	-457.26	143.85	191.81
Free Cash Flow	413.08	1,042	501.04	225.64	711.22	756.1
Free Cash Flow Growth	-62.63%	107.98%	122.06%	-68.27%	-5.94%	50.69%
Free Cash Flow Margin	13.14%	32.15%	18.60%	8.67%	19.71%	28.59%
Free Cash Flow Per Share	2.23	5.62	2.70	1.21	3.83	4.06
Cash Interest Paid	8.64	11.35	13.14	6.63	6.68	7.49
Cash Income Tax Paid	171.31	80.08	84.73	229.09	126.76	121.18
Levered Free Cash Flow	293.39	844.63	354.25	43.87	528.72	617.56
Unlevered Free Cash Flow	298.71	851.62	362.37	47.97	532.89	622.24
Change in Working Capital	-121.41	81.61	-178.32	-37.02	-3.98	30.01

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.