Thac Ba Hydropower JSC (HOSE:TBC)

Thac Ba Hydropower JSC Income Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	611,841	562,827	538,668	430,944	726,080	495,240
Revenue Growth (YoY)	15.55%	4.49%	25.00%	-40.65%	46.61%	-7.09%
Selling, General & Admin	27,105	25,200	26,062	23,026	65,247	54,771
Depreciation & Amortization	17,745	17,745	19,157	19,440	-	-
Other Operating Expenses	248,837	244,046	229,736	191,549	204,796	186,773
Total Operating Expenses	293,686	286,991	274,955	234,014	270,044	241,544
Operating Income	318,154	275,836	263,713	196,929	456,037	253,696
Interest Expense	-1,462	-821.26	-5,184	-9,372	-15,662	-23,935
Interest Income	9,260	8,199	7,329	11,271	14,578	16,326
Net Interest Expense	7,798	7,378	2,146	1,899	-1,083	-7,610
Income (Loss) on Equity Investments	16,229	10,692	-1,614	-1,942	-252.65	-157.3
Other Non-Operating Income (Expenses)	6,222	3,598	2,745	87.19	-1,966	-377.2
EBT Excluding Unusual Items	348,403	297,505	266,989	196,974	452,735	245,551
Gain (Loss) on Sale of Investments	-	-	2,985	-	545.35	-
Gain (Loss) on Sale of Assets	-	-	-	-	-	723.64
Other Unusual Items	-	-	-	-	-	582.57
Pretax Income	348,403	297,505	269,974	196,974	453,280	246,858
Income Tax Expense	51,187	42,035	41,353	28,360	74,492	37,389
Earnings From Continuing Ops.	297,217	255,470	228,621	168,614	378,788	209,468
Minority Interest in Earnings	-62,844	-63,279	-50,593	-42,908	-54,881	-40,865
Net Income	234,372	192,191	178,028	125,706	323,907	168,603
Preferred Dividends & Other Adjustments	-	-	4,829	3,755	4,000	4,500
Net Income to Common	234,372	192,191	173,198	121,951	319,907	164,103
Net Income Growth	39.70%	7.96%	41.62%	-61.19%	92.11%	-6.82%
Shares Outstanding (Basic)	64	64	64	64	64	64
Shares Outstanding (Diluted)	64	64	64	64	64	64
EPS (Basic)	3690.89	3026.63	2727.53	1920.49	5037.91	2584.30
EPS (Diluted)	3690.89	3026.63	2727.53	1920.00	5037.91	2584.00
EPS Growth	43.87%	10.97%	42.06%	-61.89%	94.97%	-7.01%
Free Cash Flow	97,630	210,429	244,651	106,544	424,647	289,620
Free Cash Flow Per Share	1537.47	3313.85	3852.78	1677.86	6687.36	4560.95
Dividend Per Share	-	-	2000.000	2000.000	3000.000	2500.000
Dividend Growth	-	-	-	-33.33%	20.00%	-
Profit Margin	38.31%	34.15%	32.15%	28.30%	44.06%	33.14%
Free Cash Flow Margin	15.96%	37.39%	45.42%	24.72%	58.48%	58.48%
EBITDA	403,490	363,359	347,158	284,236	552,300	350,009
EBITDA Margin	65.95%	64.56%	64.45%	65.96%	76.07%	70.67%
D&A For EBITDA	85,335	87,522	83,445	87,307	96,263	96,313
EBIT	318,154	275,836	263,713	196,929	456,037	253,696
EBIT Margin	52.00%	49.01%	48.96%	45.70%	62.81%	51.23%
Effective Tax Rate	14.69%	14.13%	15.32%	14.40%	16.43%	15.15%
Revenue as Reported	611,841	562,827	538,668	430,944	726,080	495,240

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