Vinacomin - Power Holding Cash Flow Statement

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

Millions VND. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2019
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '19 Dec 31, 2019
Net Income	654,129	691,318	544,161	685,120	1,843
Depreciation & Amortization	1,289,841	1,318,596	1,512,767	1,998,651	2,100,962
Other Amortization	293.24	220.59	-	-	-
Loss (Gain) on Sale of Assets	-198,372	-218,818	-223,446	-339,491	-39,857
Change in Accounts Receivable	957,216	550,842	-1,397,634	692,819	-148,091
Change in Inventory	-157,159	-83,889	47,495	26,981	-8,670
Change in Accounts Payable	-402,292	-298,145	1,394,167	-1,516,055	-177,493
Change in Other Net Operating Assets	-73,861	-24,141	18,921	70,565	120,261
Other Operating Activities	-27,574	-21,498	19,250	145,761	638,933
Operating Cash Flow	2,042,220	1,914,487	1,915,682	1,764,351	2,487,890
Operating Cash Flow Growth	6.67%	-0.06%	8.58%	-29.08%	-8.55%
Capital Expenditures	-819,382	-498,129	-125,128	-171,792	-248,574
Sale of Property, Plant & Equipment	2,191	3,282	-	-	87.28
Other Investing Activities	180,545	205,371	251,314	307,521	27,038
Investing Cash Flow	-1,101,647	-245,476	107,185	-274,571	-221,449
Long-Term Debt Issued	10,427,755	8,738,804	6,818,259	3,573,389	2,601,410
Long-Term Debt Repaid	-10,994,696	-9,861,339	-8,446,555	-5,360,435	-4,550,909
Net Debt Issued (Repaid)	-566,941	-1,122,535	-1,628,297	-1,787,046	-1,949,499
Common Dividends Paid	-340,708	-272,851	-374,950	-	-373,341
Other Financing Activities	-	-	-	409,066	-
Financing Cash Flow	-907,650	-1,395,386	-2,003,246	-1,377,980	-2,322,840
Foreign Exchange Rate Adjustments	-	-	-	-	-0.08
Net Cash Flow	32,924	273,624	19,622	111,801	-56,400
Free Cash Flow	1,222,838	1,416,358	1,790,554	1,592,559	2,239,316
Free Cash Flow Growth	-13.66%	-20.90%	12.43%	-28.88%	-15.23%
Free Cash Flow Margin	9.59%	11.03%	15.14%	14.92%	17.79%
Free Cash Flow Per Share	1790.90	2074.44	2622.49	2331.47	3293.11
Cash Interest Paid	173,117	231,928	381,345	354,406	673,784
Cash Income Tax Paid	50,617	74,610	69,446	32,385	72,133
Levered Free Cash Flow	1,819,180	1,073,453	1,608,580	-	2,076,745
Unlevered Free Cash Flow	1,916,629	1,210,952	1,840,768	-	2,492,668
Change in Working Capital	323,904	144,667	62,950	-725,690	-213,992

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