Zen Voce 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	1,570	1,378	1,461	1,510	1,308
Revenue Growth (YoY)	13.90%	-5.65%	-3.23%	15.43%	9.12%
Cost of Revenue	1,050	919.75	1,026	943.03	784.11
Gross Profit	519.57	458.48	434.62	566.57	523.68
Selling, General & Admin	297.87	300.86	283.65	317.04	304.48
Research & Development	96.56	98.37	83.61	93.37	84.95
Operating Expenses	407.14	400.94	364.96	407.29	374.96
Operating Income	112.43	57.54	69.66	159.28	148.72
Interest Expense	-9.19	-10.43	-10.57	-8.63	-6.84
Interest & Investment Income	7.41	13.73	14.98	3.82	3.46
Earnings From Equity Investments	-0.29	-0.39	-0.57	-	-
Currency Exchange Gain (Loss)	-	16.45	-1.74	16.66	-6.27
Other Non Operating Income (Expenses)	11.61	0.59	1	0.02	1.03
EBT Excluding Unusual Items	121.97	77.48	72.76	171.16	140.11
Gain (Loss) on Sale of Investments	-	28.89	18.25	-32.36	16.1
Gain (Loss) on Sale of Assets	-	-	-0.06	-0.11	-0.68
Other Unusual Items	-	0.02	0.01	0.14	0.12
Pretax Income	121.97	106.39	90.95	138.82	155.65
Income Tax Expense	34.65	34	30.72	48.54	28.1
Earnings From Continuing Operations	87.32	72.38	60.23	90.28	127.55
Minority Interest in Earnings	-46.25	-41.55	-32.33	-26.14	-19.87
Net Income	41.07	30.83	27.9	64.15	107.68
Net Income to Common	41.07	30.83	27.9	64.15	107.68
Net Income Growth	33.20%	10.50%	-56.50%	-40.43%	40.53%
Shares Outstanding (Basic)	51	51	51	51	51
Shares Outstanding (Diluted)	51	51	51	51	51
Shares Change (YoY)	-0.59%	-	-	-	-
EPS (Basic)	0.81	0.60	0.55	1.26	2.11
EPS (Diluted)	0.81	0.60	0.55	1.26	2.11
EPS Growth	35.00%	9.68%	-56.50%	-40.40%	40.67%
Free Cash Flow	6.24	31.4	164.67	110.59	109.8
Free Cash Flow Per Share	0.12	0.62	3.23	2.17	2.15
Dividend Per Share	-	0.500	0.500	0.800	1.000
Dividend Growth	-	-	-37.50%	-20.00%	11.11%
Gross Margin	33.10%	33.27%	29.75%	37.53%	40.04%
Operating Margin	7.16%	4.17%	4.77%	10.55%	11.37%
Profit Margin	2.62%	2.24%	1.91%	4.25%	8.23%
Free Cash Flow Margin	0.40%	2.28%	11.27%	7.33%	8.40%
EBITDA	137.27	71.35	81.16	171.93	159.28
EBITDA Margin	8.74%	5.18%	5.56%	11.39%	12.18%
D&A For EBITDA	24.84	13.81	11.51	12.65	10.56
EBIT	112.43	57.54	69.66	159.28	148.72
EBIT Margin	7.16%	4.17%	4.77%	10.55%	11.37%
Effective Tax Rate	28.41%	31.96%	33.77%	34.96%	18.05%
Revenue as Reported	1,570	1,378	1,461	1,510	1,308

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