Taiwan Thick-Film Ind. Income Statement

Financials in millions TWD. Fiscal year is January - December.

Millions TWD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	1,619	1,502	1,637	1,939	1,914	1,469
Revenue Growth (YoY)	6.89%	-8.27%	-15.57%	1.35%	30.25%	77.97%
Cost of Revenue	1,427	1,356	1,492	1,739	1,718	1,272
Gross Profit	192.47	145.65	145.74	200.14	195.59	197.4
Selling, General & Admin	118.67	115.6	113.53	113.8	102.77	120.9
Research & Development	47.27	47.15	47.8	65.56	58.19	56.08
Operating Expenses	165.19	197.98	162.06	179.76	152.01	161.66
Operating Income	27.29	-52.33	-16.32	20.38	43.58	35.74
Interest Expense	-13.26	-14.63	-16.69	-16.66	-15.13	-11.32
Interest & Investment Income	9.73	12.64	4.31	1.21	0.73	0.84
Currency Exchange Gain (Loss)	11.35	-	-	22.59	0.13	-5.16
Other Non Operating Income (Expenses)	-1.27	0.86	11.57	2.75	3.32	4.18
EBT Excluding Unusual Items	33.84	-53.47	-17.13	30.27	32.63	24.27
Gain (Loss) on Sale of Investments	-0.72	-	-	-0.54	0.38	0.11
Gain (Loss) on Sale of Assets	2.15	-	-	-0.08	-0.01	-0.45
Pretax Income	35.27	-53.47	-17.13	29.66	33	23.94
Income Tax Expense	18.3	-3.45	-2.66	8.21	0.86	10.8
Earnings From Continuing Operations	16.97	-50.01	-14.46	21.45	32.14	13.14
Net Income	16.97	-50.01	-14.46	21.45	32.14	13.14
Net Income to Common	16.97	-50.01	-14.46	21.45	32.14	13.14
Net Income Growth	-	-	-	-33.26%	144.70%	-
Shares Outstanding (Basic)	38	38	38	38	36	31
Shares Outstanding (Diluted)	38	38	38	38	36	33
Shares Change (YoY)	-	-	-	5.18%	9.81%	4.46%
EPS (Basic)	0.45	-1.32	-0.38	0.57	0.89	0.42
EPS (Diluted)	0.45	-1.32	-0.38	0.57	0.89	0.41
EPS Growth	-	-	-	-36.55%	117.62%	-
Free Cash Flow	62.17	-19.76	162.69	91.34	14.71	-42.9
Free Cash Flow Per Share	1.64	-0.52	4.30	2.41	0.41	-1.31
Dividend Per Share	-	-	-	0.098	-	-
Gross Margin	11.89%	9.70%	8.90%	10.32%	10.22%	13.44%
Operating Margin	1.69%	-3.48%	-1.00%	1.05%	2.28%	2.43%
Profit Margin	1.05%	-3.33%	-0.88%	1.11%	1.68%	0.89%
Free Cash Flow Margin	3.84%	-1.32%	9.94%	4.71%	0.77%	-2.92%
EBITDA	51.04	-28.6	7.54	41.15	65.44	56.67
EBITDA Margin	3.15%	-1.90%	0.46%	2.12%	3.42%	3.86%
D&A For EBITDA	23.75	23.73	23.86	20.77	21.86	20.93
EBIT	27.29	-52.33	-16.32	20.38	43.58	35.74
EBIT Margin	1.69%	-3.48%	-1.00%	1.05%	2.28%	2.43%
Effective Tax Rate	51.88%	-	-	27.67%	2.60%	45.13%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.