Horizon Securities 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
Interest and Dividend Income	104.37	110.02	92.57	51.47	62.18
Total Interest Expense	60.68	65.7	49.19	21.71	11.81
Net Interest Income	43.69	44.32	43.38	29.76	50.36
Brokerage Commission	969.99	1,056	858.71	775.23	1,119
Trading & Principal Transactions	248.33	316.7	221.68	-105.03	1,493
Asset Management Fee	0.05	-	-	-	-
Underwriting & Investment Banking Fee	145.94	101.67	63.67	76.81	67.74
Gain on Sale of Investments (Rev)	50.4	-71.61	128.77	-166.72	-93.93
Other Revenue	12.94	3.17	-142.9	39.21	-3.14
Revenue	1,471	1,450	1,173	649.26	2,633
Revenue Growth (YoY)	1.49%	23.56%	80.72%	-75.34%	106.28%
Salaries & Employee Benefits	841.15	838.81	740.78	642.02	986.31
Cost of Services Provided	80.9	91.43	70.9	69.49	99.73
Other Operating Expenses	277.75	255.94	219.96	198.59	238.17
Total Operating Expenses	1,335	1,316	1,161	1,028	1,415
Operating Income	136.7	134.19	11.86	-378.91	1,218
Currency Exchange Gains	-0.93	5.67	-0.41	11.42	-2.74
Other Non-Operating Income (Expenses)	222.24	263.88	196.46	169.87	160.75
EBT Excluding Unusual Items	358.02	403.74	207.91	-197.62	1,376
Gain (Loss) on Sale of Investments	-14.77	-18.28	-4.55	-4.05	-6
Other Unusual Items	-1.3	22.49	3.22	14.18	0.35
Pretax Income	341.94	407.73	206.58	-187.49	1,370
Income Tax Expense	42.93	70.27	26.79	32.7	130.66
Net Income	299.01	337.46	179.8	-220.18	1,239
Net Income to Common	299.01	337.46	179.8	-220.18	1,239
Net Income Growth	-11.39%	87.69%	-	-	198.82%
Shares Outstanding (Basic)	392	373	351	351	351
Shares Outstanding (Diluted)	418	416	391	351	375
Shares Change (YoY)	0.57%	6.42%	11.21%	-6.26%	5.18%
EPS (Basic)	0.76	0.91	0.51	-0.63	3.53
EPS (Diluted)	0.71	0.80	0.42	-0.63	3.28
EPS Growth	-11.78%	90.79%	-	-	182.72%
Free Cash Flow	528.98	601.2	-431.66	255.89	1,557
Free Cash Flow Per Share	1.26	1.45	-1.10	0.73	4.15
Dividend Per Share	0.550	0.500	0.250	-	1.698
Dividend Growth	10.00%	100.00%	-	-	260.00%
Operating Margin	9.29%	9.26%	1.01%	-58.36%	46.25%
Profit Margin	20.32%	23.28%	15.32%	-33.91%	47.07%
Free Cash Flow Margin	35.95%	41.47%	-36.79%	39.41%	59.13%
Effective Tax Rate	12.56%	17.23%	12.97%	-	9.54%
Revenue as Reported	1,528	1,520	1,221	681.97	2,641

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