Masan Consumer 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	Jan '24 Jan 1, 2024	Dec '22 Dec 31, 2022	Jan '22 Jan 1, 2022
Net Income	6,667,152	7,803,276	7,085,164	5,451,119	5,442,135
Depreciation & Amortization	671,447	673,540	655,993	777,299	839,204
Other Amortization	4,554	6,346	-	36,971	-
Loss (Gain) From Sale of Assets	-2,981	4,533	-7.56	7,622	6,358
Loss (Gain) on Equity Investments	-82,957	-65,065	-58,661	-13,296	-13,296
Other Operating Activities	-808,081	-1,576,677	-1,424,696	-809,156	-795,778
Change in Accounts Receivable	-18,620	21,694	-405,613	-83,798	-303,216
Change in Inventory	-357,338	-527,434	214,639	-323,701	-498,549
Change in Accounts Payable	-186,819	258,897	1,526,487	-1,397,713	1,095,035
Change in Other Net Operating Assets	-1,353,213	35,395	52,889	41,018	44,454
Operating Cash Flow	2,132,331	9,227,283	6,255,586	2,484,193	5,816,347
Operating Cash Flow Growth	-76.89%	47.50%	151.82%	-57.29%	24.32%
Capital Expenditures	-1,185,443	-514,058	-573,174	-1,243,184	-959,415
Sale of Property, Plant & Equipment	9,797	8,122	3,886	3,639	1,823
Cash Acquisitions	-34,996	-	-	-	-
Investment in Securities	4,409,631	10,425,909	-7,695,440	-8,807,214	2,792,925
Other Investing Activities	734,727	1,742,672	1,483,407	964,304	426,167
Investing Cash Flow	1,091,486	11,473,644	-7,087,822	-9,272,455	2,099,670
Long-Term Debt Issued	23,308,768	25,063,282	22,927,569	19,834,326	23,796,206
Long-Term Debt Repaid	-24,515,150	-22,928,427	-21,632,256	-20,452,689	-22,742,364
Net Debt Issued (Repaid)	-1,206,381	2,134,855	1,295,313	-618,364	1,053,842
Issuance of Common Stock	3,320,075	119,340	-	56,455	495,373
Common Dividends Paid	-2,741,977	-23,070,287	-261,546	-113,974	-263,824
Other Financing Activities	-	-	-	38,345	-
Financing Cash Flow	-628,284	-20,816,093	1,033,767	-637,537	1,285,390
Foreign Exchange Rate Adjustments	2,590	2,630	61.2	951.65	-6,776
Net Cash Flow	2,598,122	-112,535	201,592	-7,424,848	9,194,632
Free Cash Flow	946,888	8,713,225	5,682,412	1,241,009	4,856,932
Free Cash Flow Growth	-89.13%	53.34%	357.89%	-74.45%	51.38%
Free Cash Flow Margin	3.10%	28.20%	20.12%	4.60%	17.49%
Free Cash Flow Per Share	789.23	9965.90	6528.59	1426.63	5625.97
Cash Interest Paid	487,707	366,293	496,973	294,398	234,375
Cash Income Tax Paid	993,305	1,107,911	731,466	789,712	1,140,975
Levered Free Cash Flow	2,935,192	8,298,119	8,089,600	1,327,817	483,495
Unlevered Free Cash Flow	3,244,197	8,507,174	8,394,801	1,519,899	624,845
Change in Working Capital	-4,316,803	2,381,331	-2,206	-2,966,366	337,724

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