GRANDES Income Statement

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

Millions JPY. 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	3,416	4,226	4,600	2,661	2,807
Revenue Growth (YoY)	-19.17%	-8.13%	72.87%	-5.20%	58.68%
Cost of Revenue	2,685	2,966	3,660	2,052	2,186
Gross Profit	731	1,260	940	609	621
Selling, General & Admin	718	740	813	379	348
Amortization of Goodwill & Intangibles	-	-	-	3	7
Other Operating Expenses	-	38	-	-	1
Operating Expenses	717	777	812	382	356
Operating Income	14	483	128	227	265
Interest Expense	-25	-8	-8	-10	-13
Interest & Investment Income	1	-	-	-	-
Other Non Operating Income (Expenses)	39	-10	2	6	22
EBT Excluding Unusual Items	29	465	122	223	274
Gain (Loss) on Sale of Investments	-	-	179	-	-
Gain (Loss) on Sale of Assets	1	-	-	-	-
Asset Writedown	-	-	-5	-39	-
Legal Settlements	-	-	-1	-	-
Other Unusual Items	-	-3	1	-54	-
Pretax Income	30	462	296	130	274
Income Tax Expense	33	211	118	65	92
Net Income	-3	251	178	65	182
Net Income to Common	-3	251	178	65	182
Net Income Growth	-	41.01%	173.85%	-64.29%	116.67%
Shares Outstanding (Basic)	4	4	4	4	4
Shares Outstanding (Diluted)	4	4	4	4	4
Shares Change (YoY)	13.41%	3.29%	-	-2.81%	-1.01%
EPS (Basic)	-0.73	69.43	50.86	18.57	50.54
EPS (Diluted)	-0.73	69.43	50.86	18.57	50.54
EPS Growth	-	36.52%	173.85%	-63.25%	118.87%
Free Cash Flow	-547	166	-229	685	842
Free Cash Flow Per Share	-133.41	45.92	-65.43	195.71	233.81
Dividend Per Share	-	15.000	15.000	14.000	14.000
Dividend Growth	-	-	7.14%	-	-
Gross Margin	21.40%	29.82%	20.43%	22.89%	22.12%
Operating Margin	0.41%	11.43%	2.78%	8.53%	9.44%
Profit Margin	-0.09%	5.94%	3.87%	2.44%	6.48%
Free Cash Flow Margin	-16.01%	3.93%	-4.98%	25.74%	30.00%
EBITDA	93	519	160	276	329
EBITDA Margin	2.72%	12.28%	3.48%	10.37%	11.72%
D&A For EBITDA	79	36	32	49	64
EBIT	14	483	128	227	265
EBIT Margin	0.41%	11.43%	2.78%	8.53%	9.44%
Effective Tax Rate	110.00%	45.67%	39.87%	50.00%	33.58%

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