Vetnostrum Animal Health 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Operating Revenue	-	-	1,208	1,185
Other Revenue	1,416	1,294	-	-
Revenue	1,416	1,294	1,208	1,185
Revenue Growth (YoY)	9.43%	7.17%	1.87%	-
Cost of Revenue	964.25	853.42	850.75	832.13
Gross Profit	451.87	440.69	356.76	353.23
Selling, General & Admin	238.83	241.18	219.87	209.09
Research & Development	34.38	28.78	25.46	19.51
Other Operating Expenses	22.54	-	-	-
Operating Expenses	295.75	269.96	245.22	228.61
Operating Income	156.12	170.73	111.54	124.62
Interest Expense	-0.56	-1.1	-1.97	-2.92
Interest & Investment Income	3.17	0.65	0.54	0.14
Currency Exchange Gain (Loss)	4.19	0.87	-	-
Other Non Operating Income (Expenses)	0.27	0.45	2.92	9.18
EBT Excluding Unusual Items	163.19	171.6	113.03	131.01
Gain (Loss) on Sale of Investments	-3.66	-	-	-
Gain (Loss) on Sale of Assets	-0.15	-1.89	-	-
Other Unusual Items	0	-	-	-
Pretax Income	159.39	169.72	113.03	131.01
Income Tax Expense	30.54	33.1	21.43	24.5
Net Income	128.85	136.62	91.6	106.52
Net Income to Common	128.85	136.62	91.6	106.52
Net Income Growth	-5.68%	49.15%	-14.01%	-
Shares Outstanding (Basic)	71	66	66	63
Shares Outstanding (Diluted)	71	66	66	63
Shares Change (YoY)	6.69%	0.09%	4.69%	-
EPS (Basic)	1.82	2.06	1.38	1.69
EPS (Diluted)	1.82	2.06	1.38	1.68
EPS Growth	-11.65%	49.28%	-17.86%	-
Free Cash Flow	263.28	150.19	220	105.51
Free Cash Flow Per Share	3.71	2.26	3.31	1.66
Dividend Per Share	1.330	1.687	1.040	-
Dividend Growth	-21.15%	62.19%	-	-
Gross Margin	31.91%	34.05%	29.54%	29.80%
Operating Margin	11.03%	13.19%	9.24%	10.51%
Profit Margin	9.10%	10.56%	7.59%	8.99%
Free Cash Flow Margin	18.59%	11.61%	18.22%	8.90%
EBITDA	218.09	236.82	188.28	202.84
EBITDA Margin	15.40%	18.30%	15.59%	17.11%
D&A For EBITDA	61.97	66.09	76.74	78.22
EBIT	156.12	170.73	111.54	124.62
EBIT Margin	11.03%	13.19%	9.24%	10.51%
Effective Tax Rate	19.16%	19.50%	18.96%	18.70%
Advertising Expenses	31.29	-	-	-

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