Taiwan Thick-Film Ind. Cash Flow 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
Net Income	43.28	-50.01	-14.46	21.45	32.14
Depreciation & Amortization	24.59	23.73	23.86	24.37	27.53
Loss (Gain) From Sale of Assets	0.36	3.35	-	0.08	0.01
Loss (Gain) From Sale of Investments	0.9	0.66	-1.22	0.54	-0.38
Provision & Write-off of Bad Debts	-32.8	35.24	0.73	0.41	-8.95
Other Operating Activities	7.1	-4.08	13.79	13.64	13.5
Change in Accounts Receivable	26.88	-27.63	50.96	54.94	17.17
Change in Inventory	14.08	-2.77	109.49	16.68	-46.23
Change in Accounts Payable	-5.5	18.28	1.41	-21.2	0.49
Change in Other Net Operating Assets	20.33	-5.65	-17.47	8.88	-7.48
Operating Cash Flow	99.22	-8.88	167.09	119.78	27.79
Operating Cash Flow Growth	-	-	39.50%	330.96%	-
Capital Expenditures	-19.7	-10.88	-4.4	-28.44	-13.08
Sale of Property, Plant & Equipment	0.23	0.08	-	0.02	-
Sale (Purchase) of Intangibles	-2.62	-1.6	-1.24	-0.96	-0.55
Investment in Securities	66.22	-1.32	-61.28	-	-1.06
Other Investing Activities	10.82	-1.49	2.04	4.85	-6.71
Investing Cash Flow	54.95	-15.21	-64.89	-24.52	-21.4
Short-Term Debt Issued	-	13.87	-	69.51	-
Long-Term Debt Issued	-	20.96	-	-	15
Total Debt Issued	-	34.83	-	69.51	15
Short-Term Debt Repaid	-4.85	-	-73.71	-	-13.31
Long-Term Debt Repaid	-15.91	-11.45	-9.55	-8.73	-10.87
Total Debt Repaid	-20.75	-11.45	-83.25	-8.73	-24.18
Net Debt Issued (Repaid)	-20.75	23.38	-83.25	60.79	-9.18
Issuance of Common Stock	-	-	-	-	34.3
Common Dividends Paid	-	-	-3.71	-	-
Other Financing Activities	-13.23	-14.59	-16.68	-16.66	-15.02
Financing Cash Flow	-33.99	8.78	-103.65	44.13	10.1
Foreign Exchange Rate Adjustments	4.83	21.02	-7.44	10.86	-2.39
Net Cash Flow	125.01	5.71	-8.88	150.24	14.1
Free Cash Flow	79.52	-19.76	162.69	91.34	14.71
Free Cash Flow Growth	-	-	78.11%	520.96%	-
Free Cash Flow Margin	4.97%	-1.32%	9.94%	4.71%	0.77%
Free Cash Flow Per Share	2.10	-0.52	4.30	2.41	0.41
Cash Interest Paid	13.23	14.59	16.68	16.66	15.02
Cash Income Tax Paid	5.66	2.25	-4.15	10.02	1.75
Levered Free Cash Flow	64.11	-20.9	147.32	52.25	-18.82
Unlevered Free Cash Flow	72.37	-11.75	157.75	62.66	-9.36
Change in Working Capital	55.8	-17.77	144.39	59.3	-36.07

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