Sao Mai Group 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	37,712	180,854	195,034	628,390	600,437
Depreciation & Amortization	478,586	438,449	450,586	412,832	412,663
Other Amortization	870.62	-	-	-	-
Loss (Gain) From Sale of Assets	-201,565	-142,956	-191,242	-186,541	-125,465
Other Operating Activities	123,124	40,387	-4,439	419,036	111,775
Change in Accounts Receivable	-1,362,731	-790,907	41,191	-269,781	-142,053
Change in Inventory	-504,591	216,920	-1,541,001	-313,900	250,579
Change in Accounts Payable	1,094,260	-916,744	691,469	-1,007,951	177,751
Change in Other Net Operating Assets	3,634	4,878	4,369	-16,071	-196,696
Operating Cash Flow	-328,600	-968,841	-353,273	-339,846	1,087,581
Operating Cash Flow Growth	-	-	-	-	655.06%
Capital Expenditures	-428,013	-254,361	-239,078	-1,483,221	-610,486
Sale of Property, Plant & Equipment	1,198	66.22	10,188	222,194	29,824
Investment in Securities	-	66,417	-	-	1,979
Other Investing Activities	140,205	98,445	132,744	136,615	108,717
Investing Cash Flow	-860,471	-1,171,556	-78,633	-451,759	-794,308
Long-Term Debt Issued	11,466,234	15,702,935	17,267,448	13,713,228	12,913,025
Long-Term Debt Repaid	-11,632,690	-12,837,304	-16,285,239	-12,042,303	-13,400,116
Net Debt Issued (Repaid)	-166,456	2,865,632	982,209	1,670,924	-487,090
Issuance of Common Stock	-	-	-	15,500	-
Common Dividends Paid	-5,373	-27,878	-32,967	-637,425	-79.05
Other Financing Activities	2,500	8,330	-	-	-
Financing Cash Flow	-169,329	2,846,083	949,242	1,049,000	-487,169
Foreign Exchange Rate Adjustments	-95.98	-407.51	-170.71	4,463	-3,410
Net Cash Flow	-1,358,496	705,279	517,166	261,858	-197,307
Free Cash Flow	-756,613	-1,223,201	-592,351	-1,823,067	477,095
Free Cash Flow Margin	-6.69%	-10.18%	-4.95%	-13.26%	4.19%
Free Cash Flow Per Share	-2013.58	-3180.61	-1454.70	-4514.21	1015.52
Cash Interest Paid	723,469	710,049	725,910	455,700	457,640
Cash Income Tax Paid	60,551	57,228	127,153	44,038	26,170
Levered Free Cash Flow	-789,402	-990,567	-720,467	-1,389,409	-305,934
Unlevered Free Cash Flow	-355,583	-577,355	-256,871	-1,095,387	-27,468
Change in Working Capital	-767,328	-1,485,574	-803,212	-1,613,563	88,171

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