Thac Ba Hydropower JSC 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	192,191	178,028	125,706	323,907	168,603
Depreciation & Amortization	87,522	83,445	87,307	96,263	96,313
Other Amortization	346.89	-	-	-	-
Loss (Gain) on Sale of Assets	-18,040	-6,395	-9,666	-14,871	-16,704
Change in Accounts Receivable	35,700	70,377	-28,241	-37,334	29,392
Change in Inventory	260.76	-1,713	-1,456	137.49	305.36
Change in Accounts Payable	13,302	6,793	-9,573	7,982	-1,196
Change in Other Net Operating Assets	-1,309	-271.62	1,893	-435.47	-2,645
Other Operating Activities	73,485	46,775	22,492	55,003	41,172
Operating Cash Flow	383,459	384,003	188,461	430,651	315,242
Operating Cash Flow Growth	-0.14%	103.76%	-56.24%	36.61%	-6.94%
Capital Expenditures	-173,030	-139,352	-81,917	-6,004	-25,622
Sale of Property, Plant & Equipment	-	914.15	336.09	-	723.64
Investment in Securities	-	-19,208	-	-44,503	-29,890
Other Investing Activities	8,804	7,785	11,120	14,480	16,870
Investing Cash Flow	-252,925	-153,162	27,039	-46,405	-104,076
Long-Term Debt Issued	84,500	10,100	-	180,000	-
Total Debt Issued	84,500	10,100	-	180,000	-
Long-Term Debt Repaid	-48,942	-60,000	-60,000	-270,829	-68,171
Total Debt Repaid	-48,942	-60,000	-60,000	-270,829	-68,171
Net Debt Issued (Repaid)	35,558	-49,900	-60,000	-90,829	-68,171
Common Dividends Paid	-180,124	-214,914	-136,306	-278,912	-158,733
Financing Cash Flow	-144,565	-264,814	-196,306	-369,741	-226,904
Net Cash Flow	-14,032	-33,972	19,194	14,505	-15,738
Free Cash Flow	210,429	244,651	106,544	424,647	289,620
Free Cash Flow Growth	-13.99%	129.63%	-74.91%	46.62%	-9.81%
Free Cash Flow Margin	37.39%	45.42%	24.72%	58.48%	58.48%
Free Cash Flow Per Share	3313.85	3852.78	1677.86	6687.36	4560.95
Cash Interest Paid	1,446	5,781	9,971	17,865	25,155
Cash Income Tax Paid	27,588	39,085	45,984	65,202	31,567
Levered Free Cash Flow	106,946	226,478	89,593	266,031	324,055
Unlevered Free Cash Flow	107,459	229,718	95,450	275,820	339,014
Change in Working Capital	47,954	82,151	-37,378	-29,650	25,857

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