Asia Paper Manufacturing Co Ltd
KRX:002310
Income Statement
Earnings Waterfall
Asia Paper Manufacturing Co Ltd
Income Statement
Asia Paper Manufacturing Co Ltd
| Dec-2012 | Mar-2013 | Jun-2013 | Sep-2013 | Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | Jun-2025 | Sep-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Expense |
6 775
|
0
|
0
|
3 060
|
5 707
|
3 812
|
4 926
|
4 600
|
4 442
|
4 277
|
4 006
|
3 714
|
3 362
|
2 938
|
2 707
|
2 595
|
2 501
|
2 682
|
3 000
|
3 324
|
3 873
|
4 307
|
4 624
|
4 701
|
4 609
|
4 472
|
4 396
|
4 346
|
4 269
|
4 159
|
3 896
|
3 606
|
3 361
|
3 080
|
2 822
|
2 678
|
2 593
|
2 550
|
2 558
|
2 661
|
2 861
|
3 125
|
3 316
|
3 356
|
3 370
|
3 262
|
3 137
|
3 107
|
3 025
|
0
|
0
|
0
|
|
| Revenue |
494 045
N/A
|
525 929
+6%
|
557 243
+6%
|
597 911
+7%
|
644 991
+8%
|
642 335
0%
|
634 348
-1%
|
621 630
-2%
|
615 423
-1%
|
623 005
+1%
|
609 910
-2%
|
606 098
-1%
|
597 676
-1%
|
579 039
-3%
|
590 780
+2%
|
609 304
+3%
|
633 032
+4%
|
658 231
+4%
|
678 330
+3%
|
705 670
+4%
|
728 592
+3%
|
752 290
+3%
|
773 172
+3%
|
772 189
0%
|
775 845
+0%
|
761 245
-2%
|
740 323
-3%
|
721 128
-3%
|
697 656
-3%
|
706 865
+1%
|
699 535
-1%
|
697 997
0%
|
731 632
+5%
|
771 868
+5%
|
836 327
+8%
|
892 128
+7%
|
945 734
+6%
|
977 927
+3%
|
1 006 208
+3%
|
1 030 427
+2%
|
1 023 393
-1%
|
996 578
-3%
|
964 878
-3%
|
935 719
-3%
|
908 334
-3%
|
902 482
-1%
|
900 724
0%
|
900 511
0%
|
891 065
-1%
|
884 000
-1%
|
872 518
-1%
|
861 250
-1%
|
|
| Gross Profit | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cost of Revenue |
(406 549)
|
(437 673)
|
(465 168)
|
(514 233)
|
(557 952)
|
(553 219)
|
(546 017)
|
(531 333)
|
(528 747)
|
(539 385)
|
(535 186)
|
(537 010)
|
(534 534)
|
(520 131)
|
(530 828)
|
(532 783)
|
(547 583)
|
(572 234)
|
(594 739)
|
(640 361)
|
(653 751)
|
(655 011)
|
(642 429)
|
(607 405)
|
(600 181)
|
(586 953)
|
(577 575)
|
(565 056)
|
(549 458)
|
(554 715)
|
(551 713)
|
(561 402)
|
(583 654)
|
(604 778)
|
(652 192)
|
(700 991)
|
(760 440)
|
(793 954)
|
(817 608)
|
(827 571)
|
(810 821)
|
(794 931)
|
(765 973)
|
(739 333)
|
(719 154)
|
(717 678)
|
(731 828)
|
(743 943)
|
(752 469)
|
(746 119)
|
(734 532)
|
(724 402)
|
|
| Gross Profit |
87 495
N/A
|
88 256
+1%
|
92 076
+4%
|
83 678
-9%
|
87 038
+4%
|
89 117
+2%
|
88 331
-1%
|
90 297
+2%
|
86 675
-4%
|
83 620
-4%
|
74 724
-11%
|
69 089
-8%
|
63 141
-9%
|
58 908
-7%
|
59 952
+2%
|
76 520
+28%
|
85 449
+12%
|
85 998
+1%
|
83 592
-3%
|
65 310
-22%
|
74 841
+15%
|
97 279
+30%
|
130 743
+34%
|
164 783
+26%
|
175 664
+7%
|
174 293
-1%
|
162 749
-7%
|
156 074
-4%
|
148 199
-5%
|
152 150
+3%
|
147 822
-3%
|
136 595
-8%
|
147 978
+8%
|
167 091
+13%
|
184 137
+10%
|
191 138
+4%
|
185 295
-3%
|
183 973
-1%
|
188 599
+3%
|
202 855
+8%
|
212 572
+5%
|
201 646
-5%
|
198 905
-1%
|
196 385
-1%
|
189 180
-4%
|
184 804
-2%
|
168 896
-9%
|
156 567
-7%
|
138 596
-11%
|
137 881
-1%
|
137 986
+0%
|
136 848
-1%
|
|
| Operating Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Expenses |
(48 246)
|
(52 068)
|
(54 886)
|
(57 271)
|
(61 485)
|
(61 207)
|
(62 392)
|
(62 742)
|
(61 877)
|
(62 671)
|
(63 235)
|
(62 945)
|
(63 803)
|
(63 204)
|
(62 574)
|
(62 945)
|
(60 935)
|
(62 547)
|
(63 347)
|
(66 268)
|
(69 481)
|
(70 073)
|
(71 123)
|
(73 354)
|
(77 388)
|
(79 159)
|
(79 035)
|
(77 660)
|
(77 082)
|
(79 541)
|
(80 548)
|
(81 136)
|
(82 270)
|
(82 379)
|
(85 788)
|
(87 546)
|
(91 420)
|
(94 944)
|
(98 059)
|
(102 434)
|
(103 125)
|
(102 787)
|
(102 434)
|
(101 194)
|
(101 598)
|
(104 153)
|
(107 007)
|
(110 080)
|
(112 030)
|
(112 560)
|
(112 274)
|
(113 226)
|
|
| Selling, General & Administrative |
(47 335)
|
(51 575)
|
(54 394)
|
(56 768)
|
(60 352)
|
(60 322)
|
(61 220)
|
(61 562)
|
(60 718)
|
(61 524)
|
(62 091)
|
(61 803)
|
(62 655)
|
(62 073)
|
(61 450)
|
(61 831)
|
(59 831)
|
(61 442)
|
(62 238)
|
(65 159)
|
(68 274)
|
(68 847)
|
(69 873)
|
(72 069)
|
(76 166)
|
(77 926)
|
(77 172)
|
(75 466)
|
(75 055)
|
(77 098)
|
(78 456)
|
(79 020)
|
(79 692)
|
(79 837)
|
(83 140)
|
(84 848)
|
(88 647)
|
(92 193)
|
(95 284)
|
(99 682)
|
(100 232)
|
(99 816)
|
(99 311)
|
(97 932)
|
(98 248)
|
(100 575)
|
(103 263)
|
(106 158)
|
(108 046)
|
(108 568)
|
(108 393)
|
(109 415)
|
|
| Research & Development |
(36)
|
0
|
0
|
(3)
|
(11)
|
(19)
|
0
|
(16)
|
(10)
|
(10)
|
(10)
|
(11)
|
(11)
|
(8)
|
(10)
|
(10)
|
(11)
|
(14)
|
(13)
|
(13)
|
(14)
|
(15)
|
(14)
|
(15)
|
(14)
|
(11)
|
(12)
|
(11)
|
(19)
|
(19)
|
(18)
|
(21)
|
(23)
|
(19)
|
(20)
|
(21)
|
(12)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Depreciation & Amortization |
(884)
|
0
|
0
|
(500)
|
(1 121)
|
(868)
|
(1 154)
|
(1 165)
|
(1 148)
|
(1 137)
|
(1 135)
|
(1 133)
|
(1 137)
|
(1 125)
|
(1 115)
|
(1 104)
|
(1 093)
|
(1 091)
|
(1 095)
|
(1 095)
|
(1 192)
|
(1 210)
|
(1 235)
|
(1 270)
|
(1 208)
|
(1 223)
|
(1 853)
|
(2 185)
|
(2 007)
|
(2 426)
|
(2 075)
|
(2 094)
|
(2 555)
|
(2 521)
|
(2 626)
|
(2 677)
|
(2 761)
|
(2 744)
|
(2 770)
|
(2 751)
|
(2 893)
|
(2 971)
|
(3 123)
|
(3 262)
|
(3 350)
|
(3 577)
|
(3 744)
|
(3 922)
|
(3 984)
|
(3 992)
|
(3 880)
|
(3 811)
|
|
| Other Operating Expenses |
10
|
(493)
|
(492)
|
0
|
0
|
0
|
(18)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(7)
|
(5)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Operating Income |
39 250
N/A
|
36 188
-8%
|
37 189
+3%
|
26 407
-29%
|
25 554
-3%
|
27 909
+9%
|
25 939
-7%
|
27 555
+6%
|
24 799
-10%
|
20 949
-16%
|
11 489
-45%
|
6 143
-47%
|
(662)
N/A
|
(4 298)
-549%
|
(2 624)
+39%
|
13 574
N/A
|
24 514
+81%
|
23 451
-4%
|
20 245
-14%
|
(958)
N/A
|
5 360
N/A
|
27 206
+408%
|
59 620
+119%
|
91 429
+53%
|
98 276
+7%
|
95 133
-3%
|
83 713
-12%
|
78 412
-6%
|
71 117
-9%
|
72 606
+2%
|
67 271
-7%
|
55 457
-18%
|
65 707
+18%
|
84 711
+29%
|
98 348
+16%
|
103 590
+5%
|
93 875
-9%
|
89 029
-5%
|
90 541
+2%
|
100 421
+11%
|
109 447
+9%
|
98 859
-10%
|
96 471
-2%
|
95 191
-1%
|
87 583
-8%
|
80 652
-8%
|
61 889
-23%
|
46 487
-25%
|
26 566
-43%
|
25 321
-5%
|
25 712
+2%
|
23 622
-8%
|
|
| Pre-Tax Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Income Expense |
(2 567)
|
(3 753)
|
(3 804)
|
(2 621)
|
(2 798)
|
(2 349)
|
513
|
(1 938)
|
(3 629)
|
(2 486)
|
(4 017)
|
(4 915)
|
(3 280)
|
(3 263)
|
(1 920)
|
922
|
(1 480)
|
5 199
|
3 534
|
1 856
|
4 392
|
(3 192)
|
(3 978)
|
(3 568)
|
(4 578)
|
(4 212)
|
(3 142)
|
(3 079)
|
(3 284)
|
(2 879)
|
(2 777)
|
(2 890)
|
(2 529)
|
(2 369)
|
(1 685)
|
(968)
|
(472)
|
(150)
|
467
|
640
|
1 103
|
1 453
|
1 538
|
2 278
|
2 557
|
2 717
|
3 384
|
3 089
|
3 364
|
3 091
|
2 223
|
1 998
|
|
| Non-Reccuring Items |
0
|
0
|
0
|
32
|
47
|
49
|
55
|
82
|
96
|
25
|
106
|
68
|
(3 301)
|
(3 328)
|
(3 316)
|
(3 328)
|
83
|
172
|
75
|
(418)
|
(2 843)
|
(2 860)
|
(2 857)
|
(2 362)
|
13
|
1 444
|
2 193
|
2 228
|
682
|
(706)
|
(1 367)
|
(1 463)
|
154
|
205
|
159
|
210
|
203
|
307
|
322
|
323
|
113
|
69
|
140
|
196
|
292
|
294
|
224
|
158
|
(2 111)
|
(2 121)
|
(2 012)
|
(2 024)
|
|
| Gain/Loss on Disposition of Assets |
(393)
|
0
|
0
|
(773)
|
(489)
|
(250)
|
82
|
403
|
0
|
(3)
|
(339)
|
(276)
|
(148)
|
(22)
|
88
|
81
|
291
|
165
|
(181)
|
(185)
|
(128)
|
(95)
|
196
|
23
|
(170)
|
(401)
|
(687)
|
(525)
|
(662)
|
(432)
|
(971)
|
(1 364)
|
(738)
|
(1 313)
|
(543)
|
(58)
|
916
|
1 511
|
1 159
|
1 160
|
(1 965)
|
(2 013)
|
(1 674)
|
(2 148)
|
(360)
|
(356)
|
(375)
|
(204)
|
(144)
|
(97)
|
(97)
|
(888)
|
|
| Total Other Income |
1 856
|
1 677
|
2 017
|
2 490
|
3 148
|
3 062
|
2 523
|
2 247
|
2 136
|
1 984
|
2 030
|
2 411
|
(28 810)
|
(28 191)
|
(27 945)
|
(27 993)
|
3 620
|
3 756
|
4 435
|
5 372
|
6 214
|
7 083
|
8 537
|
8 939
|
9 552
|
10 015
|
9 359
|
9 764
|
9 767
|
10 339
|
11 017
|
11 402
|
11 507
|
11 523
|
11 631
|
11 675
|
12 641
|
12 836
|
12 886
|
13 025
|
12 822
|
12 118
|
11 539
|
11 180
|
10 810
|
10 367
|
9 978
|
9 336
|
8 215
|
7 995
|
7 905
|
8 089
|
|
| Pre-Tax Income |
38 146
N/A
|
34 112
-11%
|
35 402
+4%
|
25 534
-28%
|
25 462
0%
|
28 420
+12%
|
29 111
+2%
|
28 348
-3%
|
23 401
-17%
|
20 469
-13%
|
9 269
-55%
|
3 432
-63%
|
(36 201)
N/A
|
(39 101)
-8%
|
(35 715)
+9%
|
(16 742)
+53%
|
27 027
N/A
|
32 745
+21%
|
28 109
-14%
|
5 666
-80%
|
12 996
+129%
|
28 141
+117%
|
61 516
+119%
|
94 460
+54%
|
103 093
+9%
|
101 977
-1%
|
91 434
-10%
|
86 798
-5%
|
77 620
-11%
|
78 928
+2%
|
73 174
-7%
|
61 143
-16%
|
74 101
+21%
|
92 756
+25%
|
107 909
+16%
|
114 448
+6%
|
107 163
-6%
|
103 533
-3%
|
105 375
+2%
|
115 569
+10%
|
121 520
+5%
|
110 486
-9%
|
108 014
-2%
|
106 697
-1%
|
100 881
-5%
|
93 674
-7%
|
75 099
-20%
|
58 866
-22%
|
35 890
-39%
|
34 188
-5%
|
33 731
-1%
|
30 797
-9%
|
|
| Net Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tax Provision |
(6 805)
|
(6 306)
|
(7 480)
|
(6 080)
|
(6 223)
|
(6 892)
|
(6 268)
|
(5 704)
|
(4 811)
|
(4 170)
|
(2 216)
|
(1 335)
|
(2 472)
|
(2 015)
|
(2 409)
|
(6 773)
|
(6 294)
|
(8 617)
|
(8 294)
|
(3 901)
|
(7 989)
|
(10 722)
|
(17 789)
|
(24 914)
|
(24 411)
|
(23 663)
|
(20 594)
|
(18 473)
|
(16 180)
|
(16 960)
|
(16 868)
|
(14 610)
|
(19 856)
|
(21 563)
|
(22 624)
|
(22 386)
|
(16 166)
|
(18 396)
|
(19 280)
|
(23 144)
|
(27 120)
|
(23 928)
|
(24 216)
|
(23 080)
|
(19 828)
|
(17 820)
|
(14 338)
|
(12 521)
|
(11 949)
|
(11 832)
|
(11 314)
|
(10 249)
|
|
| Income from Continuing Operations |
31 341
|
27 805
|
27 922
|
19 454
|
19 239
|
21 528
|
22 842
|
22 643
|
18 590
|
16 299
|
7 054
|
2 098
|
(38 672)
|
(41 116)
|
(38 125)
|
(23 516)
|
20 733
|
24 127
|
19 816
|
1 766
|
5 007
|
17 419
|
43 726
|
69 545
|
78 682
|
78 315
|
70 841
|
68 326
|
61 441
|
61 968
|
56 306
|
46 533
|
54 245
|
71 195
|
85 287
|
92 064
|
90 997
|
85 137
|
86 095
|
92 425
|
94 400
|
86 558
|
83 799
|
83 618
|
81 053
|
75 854
|
60 761
|
46 345
|
23 942
|
22 355
|
22 417
|
20 549
|
|
| Income to Minority Interest |
(11)
|
(11)
|
(14)
|
(9)
|
(5)
|
(4)
|
(6)
|
(7)
|
(6)
|
7
|
10
|
13
|
23
|
12
|
13
|
13
|
(1)
|
3
|
6
|
9
|
15
|
11
|
8
|
4
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Net Income (Common) |
31 331
N/A
|
27 794
-11%
|
27 908
+0%
|
19 445
-30%
|
19 234
-1%
|
21 525
+12%
|
22 837
+6%
|
22 637
-1%
|
18 584
-18%
|
16 305
-12%
|
7 063
-57%
|
2 110
-70%
|
(38 649)
N/A
|
(41 104)
-6%
|
(38 112)
+7%
|
(23 503)
+38%
|
20 732
N/A
|
24 129
+16%
|
19 821
-18%
|
1 775
-91%
|
5 022
+183%
|
17 430
+247%
|
43 734
+151%
|
69 548
+59%
|
78 682
+13%
|
78 315
0%
|
70 841
-10%
|
68 326
-4%
|
61 441
-10%
|
61 968
+1%
|
56 306
-9%
|
46 533
-17%
|
54 245
+17%
|
71 195
+31%
|
85 287
+20%
|
92 064
+8%
|
90 997
-1%
|
85 137
-6%
|
86 095
+1%
|
92 425
+7%
|
94 400
+2%
|
86 558
-8%
|
83 799
-3%
|
83 618
0%
|
81 053
-3%
|
75 854
-6%
|
60 761
-20%
|
46 345
-24%
|
23 942
-48%
|
22 355
-7%
|
22 417
+0%
|
20 549
-8%
|
|
| EPS (Diluted) |
5 221.83
N/A
|
3 474.25
-33%
|
3 100.88
-11%
|
1 944.5
-37%
|
2 137.11
+10%
|
2 391.66
+12%
|
2 537.44
+6%
|
2 515.22
-1%
|
2 064.88
-18%
|
1 811.66
-12%
|
784.77
-57%
|
234.44
-70%
|
-4 294.33
N/A
|
-4 567.11
-6%
|
-4 234.66
+7%
|
-2 611.44
+38%
|
2 303.55
N/A
|
2 681
+16%
|
2 202.33
-18%
|
197.22
-91%
|
558
+183%
|
1 936.66
+247%
|
4 859.33
+151%
|
7 727.55
+59%
|
8 742.44
+13%
|
8 701.66
0%
|
7 871.22
-10%
|
7 591.77
-4%
|
6 826.77
-10%
|
6 885.33
+1%
|
6 256.22
-9%
|
5 170.33
-17%
|
6 027.22
+17%
|
7 910.55
+31%
|
9 522.4
+20%
|
10 278.97
+8%
|
2 031.97
-80%
|
9 505.56
+368%
|
9 612.61
+1%
|
10 319.29
+7%
|
2 107.97
-80%
|
9 666.39
+359%
|
1 883.82
-81%
|
1 896.53
+1%
|
1 856.68
-2%
|
1 809.73
-3%
|
1 465.77
-19%
|
1 151.59
-21%
|
586.61
-49%
|
564.62
-4%
|
574.96
+2%
|
527.1
-8%
|
|