RAC Electric Vehicles 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	2,096	1,287	1,901	909.5	320.9
Revenue Growth (YoY)	62.83%	-32.27%	108.97%	183.42%	-5.98%
Cost of Revenue	1,679	1,216	1,860	929.38	376.31
Gross Profit	416.67	71.44	40.6	-19.89	-55.41
Selling, General & Admin	161.92	141.27	125.95	116.91	64.14
Research & Development	88.35	79.53	67.97	37.14	48.53
Operating Expenses	251.59	221.72	196.24	154.11	112.4
Operating Income	165.08	-150.28	-155.65	-174	-167.82
Interest Expense	-32.33	-30.34	-25.81	-12.07	-4.19
Interest & Investment Income	0.95	1.25	0.76	0.41	0.13
Earnings From Equity Investments	0.51	-0.02	-0.94	-	-
Currency Exchange Gain (Loss)	4.09	0.98	5.15	-3.59	3.24
Other Non Operating Income (Expenses)	6.02	-0.65	14.98	10.3	17.18
EBT Excluding Unusual Items	144.32	-179.06	-161.51	-178.94	-151.46
Impairment of Goodwill	-	-24.11	-	-	-
Gain (Loss) on Sale of Investments	11.59	-	-	-	-
Gain (Loss) on Sale of Assets	-0	-	-0	-0.73	-
Other Unusual Items	0.08	-	-6.07	-18.28	13.43
Pretax Income	155.99	-203.16	-167.58	-197.95	-138.03
Income Tax Expense	-4.43	0.21	-0.61	-0.43	-
Earnings From Continuing Operations	160.42	-203.37	-166.97	-197.52	-138.03
Minority Interest in Earnings	-	3.15	12.81	12.98	-
Net Income	160.42	-200.23	-154.16	-184.55	-138.03
Net Income to Common	160.42	-200.23	-154.16	-184.55	-138.03
Shares Outstanding (Basic)	120	117	100	100	90
Shares Outstanding (Diluted)	121	117	100	100	90
Shares Change (YoY)	3.88%	16.65%	-	11.28%	18.10%
EPS (Basic)	1.33	-1.72	-1.54	-1.85	-1.54
EPS (Diluted)	1.32	-1.72	-1.54	-1.85	-1.54
Free Cash Flow	-264.93	-32.35	-830.15	-406.01	-364.94
Free Cash Flow Per Share	-2.19	-0.28	-8.31	-4.06	-4.06
Gross Margin	19.88%	5.55%	2.14%	-2.19%	-17.27%
Operating Margin	7.88%	-11.67%	-8.19%	-19.13%	-52.30%
Profit Margin	7.65%	-15.55%	-8.11%	-20.29%	-43.01%
Free Cash Flow Margin	-12.64%	-2.51%	-43.68%	-44.64%	-113.72%
EBITDA	208.37	-112.24	-121.64	-150.17	-159.57
EBITDA Margin	9.94%	-8.72%	-6.40%	-16.51%	-49.73%
D&A For EBITDA	43.3	38.04	34.01	23.83	8.24
EBIT	165.08	-150.28	-155.65	-174	-167.82
EBIT Margin	7.88%	-11.67%	-8.19%	-19.13%	-52.30%

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