Bellwether Electronic Cash Flow 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
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	516.95	322.45	238.62	114.03
Depreciation & Amortization	146.1	134.03	111.4	105.83
Stock-Based Compensation	9.52	5.15	-	-
Provision & Write-off of Bad Debts	8.47	0.91	3.3	-1.29
Other Operating Activities	100.99	26.51	50.69	14.64
Change in Accounts Receivable	-666.38	-207.33	-312.83	179.33
Change in Inventory	-188.51	-115.45	-3.16	49.06
Change in Accounts Payable	533.53	167.61	280.09	-218.87
Change in Other Net Operating Assets	112.76	92.41	50.32	-143.94
Operating Cash Flow	573.43	426.29	418.43	98.78
Operating Cash Flow Growth	480.54%	1.88%	323.62%	-
Capital Expenditures	-469.1	-263.66	-130.55	-142
Sale of Property, Plant & Equipment	6.45	3.6	3.87	0.15
Investment in Securities	-105.34	-	-1.55	-
Other Investing Activities	-36.36	-78.41	-94.02	47.58
Investing Cash Flow	-604.35	-338.47	-222.26	-94.27
Short-Term Debt Issued	-	118.3	89.41	124.32
Long-Term Debt Issued	-	-	95.42	-
Total Debt Issued	373.35	118.3	184.83	124.32
Short-Term Debt Repaid	-	-45	-	-
Long-Term Debt Repaid	-	-40.37	-8.92	-53.19
Total Debt Repaid	-100.26	-85.37	-8.92	-53.19
Net Debt Issued (Repaid)	273.09	32.93	175.91	71.14
Common Dividends Paid	-110	-110	-	-55
Other Financing Activities	25	-	12.78	-95.72
Financing Cash Flow	498.09	-77.07	188.68	-79.58
Foreign Exchange Rate Adjustments	-58.76	15.82	-17.72	-44.45
Net Cash Flow	408.41	26.58	367.14	-119.53
Free Cash Flow	104.33	162.63	287.88	-43.22
Free Cash Flow Growth	-	-43.51%	-	-
Free Cash Flow Margin	3.33%	7.07%	16.52%	-3.20%
Free Cash Flow Per Share	1.86	2.94	5.21	-0.78
Cash Interest Paid	53.14	48.35	39.4	35.65
Cash Income Tax Paid	109.29	110.75	35.74	30.21
Levered Free Cash Flow	-	41.45	169.1	-
Unlevered Free Cash Flow	-	71.28	194.15	-
Change in Working Capital	-208.6	-62.77	14.42	-134.43

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