PVI Holdings 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 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	1,099,877	843,033	957,130	833,911	830,261
Depreciation & Amortization	62,929	66,456	86,035	75,713	73,665
Other Amortization	14,146	19,665	-	-	-
Gain (Loss) on Sale of Assets	-1,076,250	-1,102,648	-1,116,799	-892,489	-646,271
Change in Accounts Receivable	2,580,782	-93,739	394,883	-492,987	-20,407
Change in Other Net Operating Assets	1,002,117	377,748	-396,931	-51,180	-1,023,639
Other Operating Activities	1,234,967	966,264	458,120	724,212	143,893
Operating Cash Flow	2,920,066	1,575,928	1,072,088	-524,741	318,339
Operating Cash Flow Growth	85.29%	47.00%	-	-	167.53%
Capital Expenditures	-32,685	-32,524	-48,852	-22,542	-13,678
Sale of Property, Plant & Equipment	1,710	137.6	332	355,616	568.22
Investment in Securities	8,588,852	17,084	-	-	68,260
Other Investing Activities	825,257	877,156	870,598	773,143	669,439
Investing Cash Flow	-1,921,840	-1,511,213	-872,032	1,934,073	-483,216
Short-Term Debt Issued	2,115,827	1,915,550	1,682,985	1,045,058	549,668
Total Debt Issued	2,115,827	1,915,550	1,682,985	1,045,058	549,668
Total Debt Repaid	-1,748,341	-1,715,550	-1,711,983	-1,243,551	-326,188
Net Debt Issued (Repaid)	367,487	200,000	-28,998	-198,493	223,480
Issuance of Common Stock	-	25,990	17,097	-	498,474
Common Dividends Paid	-773,228	-780,080	-736,681	-803,146	-683,700
Financing Cash Flow	-405,741	-554,090	-748,583	-1,001,639	38,254
Foreign Exchange Rate Adjustments	6,533	1,006	2,090	871.45	-1,943
Net Cash Flow	599,018	-488,370	-546,437	408,564	-128,566
Free Cash Flow	2,887,381	1,543,404	1,023,237	-547,283	304,661
Free Cash Flow Growth	87.08%	50.83%	-	-	554.71%
Free Cash Flow Margin	26.82%	17.45%	12.92%	-7.48%	5.29%
Free Cash Flow Per Share	12326.49	6588.93	4368.29	-2336.40	1350.42
Cash Interest Paid	35,698	31,609	32,882	26,036	2,335
Cash Income Tax Paid	301,760	265,423	225,297	182,998	233,836
Levered Free Cash Flow	-873,285	245,536	2,113,300	1,720,047	-1,080,798
Unlevered Free Cash Flow	-842,693	265,377	2,133,851	1,729,965	-1,079,114
Change in Working Capital	1,584,396	783,157	687,602	-1,266,088	-83,210

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.