Taiwan Navigation 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	4,300	4,400	3,990	3,873	3,226
Revenue Growth (YoY)	-2.28%	10.27%	3.03%	20.04%	29.51%
Cost of Revenue	2,505	2,557	2,550	2,534	1,949
Gross Profit	1,795	1,843	1,440	1,338	1,277
Selling, General & Admin	204.54	179.68	201.29	198.14	161.3
Amortization of Goodwill & Intangibles	-	0.22	0.33	0.69	0.52
Operating Expenses	208.96	184.04	204.91	202.24	165.34
Operating Income	1,586	1,659	1,236	1,136	1,112
Interest Expense	-310.39	-378.96	-360.85	-167.3	-40.51
Interest & Investment Income	314.35	112.68	802.42	774.08	13.32
Earnings From Equity Investments	7.4	5.14	12.17	10.97	4.85
Currency Exchange Gain (Loss)	-30.91	2.2	20.13	122.19	-49.9
Other Non Operating Income (Expenses)	40.89	0.15	17.54	18.34	9.64
EBT Excluding Unusual Items	1,607	1,400	1,727	1,895	1,049
Gain (Loss) on Sale of Assets	-	20.38	265.45	217.07	367.4
Pretax Income	1,620	1,461	2,000	2,142	1,418
Income Tax Expense	294.23	178.1	337.6	126.9	98
Net Income	1,326	1,283	1,663	2,015	1,320
Net Income to Common	1,326	1,283	1,663	2,015	1,320
Net Income Growth	3.31%	-22.83%	-17.48%	52.64%	154.79%
Shares Outstanding (Basic)	417	417	417	417	417
Shares Outstanding (Diluted)	418	418	418	418	418
Shares Change (YoY)	0.00%	-0.03%	-0.04%	0.11%	-0.00%
EPS (Basic)	3.18	3.08	3.98	4.83	3.16
EPS (Diluted)	3.17	3.07	3.98	4.82	3.16
EPS Growth	3.26%	-22.86%	-17.43%	52.53%	154.84%
Free Cash Flow	1,761	-1,071	-73.77	-926.1	-2,782
Free Cash Flow Per Share	4.21	-2.56	-0.18	-2.21	-6.66
Dividend Per Share	-	1.500	1.600	2.200	2.000
Dividend Growth	-	-6.25%	-27.27%	10.00%	122.22%
Gross Margin	41.74%	41.89%	36.10%	34.56%	39.59%
Operating Margin	36.88%	37.71%	30.96%	29.34%	34.46%
Profit Margin	30.83%	29.16%	41.68%	52.03%	40.92%
Free Cash Flow Margin	40.95%	-24.35%	-1.85%	-23.91%	-86.22%
EBITDA	2,512	2,599	2,103	1,918	1,734
EBITDA Margin	58.42%	59.06%	52.70%	49.53%	53.76%
D&A For EBITDA	926.08	939.54	867.41	781.81	622.44
EBIT	1,586	1,659	1,236	1,136	1,112
EBIT Margin	36.88%	37.71%	30.96%	29.34%	34.46%
Effective Tax Rate	18.16%	12.19%	16.88%	5.92%	6.91%

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