Thang Long Joint Stock Income 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	Jan '24 Jan 1, 2024	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	1,844,918	1,664,861	1,459,462	1,496,329	1,262,499
Revenue Growth (YoY)	10.81%	14.07%	-2.46%	18.52%	73.04%
Cost of Revenue	1,650,487	1,537,432	1,292,570	1,424,252	1,193,630
Gross Profit	194,431	127,429	166,892	72,077	68,869
Selling, General & Admin	68,250	73,010	73,709	67,753	55,209
Operating Expenses	68,250	73,010	73,709	67,753	55,209
Operating Income	126,181	54,419	93,183	4,325	13,660
Interest Expense	-60,924	-58,805	-70,467	-44,332	-31,661
Interest & Investment Income	8,583	4,109	7,100	44,708	11,689
Earnings From Equity Investments	4,606	6,520	4,872	3,306	7,197
Currency Exchange Gain (Loss)	0.24	-0.06	-275.86	-	-
Other Non Operating Income (Expenses)	-540.87	168.97	-1,371	3,045	14,334
EBT Excluding Unusual Items	77,905	6,412	33,041	11,052	15,219
Gain (Loss) on Sale of Investments	-	-	1,581	-	-
Gain (Loss) on Sale of Assets	323.72	-1,406	-102.63	-	-
Other Unusual Items	-18	-	-	-	-
Pretax Income	78,211	5,006	34,519	11,052	15,219
Income Tax Expense	12,511	2,768	5,348	2,345	2,597
Earnings From Continuing Operations	65,701	2,239	29,170	8,707	12,622
Minority Interest in Earnings	-15,452	-10,067	-5,562	-3,786	368.31
Net Income	50,248	-7,828	23,609	4,920	12,990
Net Income to Common	50,248	-7,828	23,609	4,920	12,990
Net Income Growth	-	-	379.81%	-62.12%	0.24%
Shares Outstanding (Basic)	42	42	42	42	42
Shares Outstanding (Diluted)	42	42	42	42	42
Shares Change (YoY)	-	-	0.37%	-0.49%	-2.03%
EPS (Basic)	1200.57	-187.04	564.07	118.00	310.00
EPS (Diluted)	1200.57	-187.04	564.07	118.00	310.00
EPS Growth	-	-	378.03%	-61.93%	2.31%
Free Cash Flow	-168,293	144,479	30,398	-176,212	-274,525
Free Cash Flow Per Share	-4020.98	3452.01	726.30	-4225.93	-6551.36
Gross Margin	10.54%	7.65%	11.43%	4.82%	5.46%
Operating Margin	6.84%	3.27%	6.39%	0.29%	1.08%
Profit Margin	2.72%	-0.47%	1.62%	0.33%	1.03%
Free Cash Flow Margin	-9.12%	8.68%	2.08%	-11.78%	-21.75%
EBITDA	199,099	132,718	151,936	55,818	54,443
EBITDA Margin	10.79%	7.97%	10.41%	3.73%	4.31%
D&A For EBITDA	72,917	78,299	58,753	51,493	40,783
EBIT	126,181	54,419	93,183	4,325	13,660
EBIT Margin	6.84%	3.27%	6.39%	0.29%	1.08%
Effective Tax Rate	16.00%	55.28%	15.49%	21.22%	17.06%
Revenue as Reported	1,844,918	1,664,861	1,459,462	1,496,329	1,262,499

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