Military Insurance Income Statement

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

Millions VND. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Jan '24 Jan 1, 2024
Premiums & Annuity Revenue	2,638,391	2,326,639	2,319,970
Total Interest & Dividend Income	340,463	303,215	290,578
Gain (Loss) on Sale of Investments	14,667	14,667	11,750
Other Revenue	1,334,015	1,314,186	1,273,902
Total Revenue	4,327,536	3,958,706	3,896,200
Revenue Growth (YoY)	11.07%	1.60%	-
Policy Benefits	718,847	738,230	857,767
Policy Acquisition & Underwriting Costs	409,882	380,625	421,762
Selling, General & Administrative	568,750	543,855	508,964
Other Operating Expenses	2,118,314	1,976,598	1,750,756
Total Operating Expenses	3,815,793	3,639,308	3,539,249
Operating Income	511,743	319,399	356,951
Interest Expense	-1.15	-0.74	-0.58
Currency Exchange Gain (Loss)	-8,602	-5,571	-1,775
Other Non Operating Income (Expenses)	-17,030	-5,691	-3,053
Pretax Income	486,110	308,136	352,122
Income Tax Expense	98,265	69,630	71,568
Net Income	387,845	238,506	280,555
Preferred Dividends & Other Adjustments	-	-	16,833
Net Income to Common	387,845	238,506	263,722
Net Income Growth	38.24%	-14.99%	-
Shares Outstanding (Basic)	212	193	193
Shares Outstanding (Diluted)	212	193	193
EPS (Basic)	1833.75	1233.74	1364.17
EPS (Diluted)	1833.75	1233.74	1364.17
EPS Growth	34.42%	-9.56%	-
Free Cash Flow	331,651	320,754	234,010
Free Cash Flow Per Share	1568.06	1659.19	1210.48
Dividend Per Share	-	-	952.381
Operating Margin	11.82%	8.07%	9.16%
Profit Margin	8.96%	6.02%	6.77%
Free Cash Flow Margin	7.66%	8.10%	6.01%
EBITDA	520,911	328,552	362,818
EBITDA Margin	12.04%	8.30%	9.31%
D&A For EBITDA	9,169	9,153	5,867
EBIT	511,743	319,399	356,951
EBIT Margin	11.82%	8.07%	9.16%
Effective Tax Rate	20.21%	22.60%	20.32%
Revenue as Reported	3,972,406	3,640,825	3,593,872

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.