Thac Mo Hydro Power JSC Income 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
Revenue	753,350	763,629	854,040	1,070,306	748,324
Revenue Growth (YoY)	-1.35%	-10.59%	-20.21%	43.03%	68.84%
Operations & Maintenance	-	-	-	-	4,501
Selling, General & Admin	67,118	35,943	30,111	43,066	20,384
Depreciation & Amortization	-	3,564	2,713	2,032	1,733
Other Operating Expenses	351,585	341,661	336,004	357,210	302,657
Total Operating Expenses	418,703	381,168	368,827	402,308	329,276
Operating Income	334,647	382,461	485,213	667,998	419,048
Interest Expense	-19,511	-24,553	-35,254	-35,242	-33,030
Interest Income	-	38,025	83,451	50,008	35,534
Net Interest Expense	-19,511	13,471	48,196	14,765	2,504
Income (Loss) on Equity Investments	34,335	29,621	20,660	20,074	24,752
Other Non-Operating Income (Expenses)	35,999	51.78	370.28	4,630	-16,107
EBT Excluding Unusual Items	385,470	425,605	554,440	707,468	430,196
Gain (Loss) on Sale of Investments	-	7.3	-	-	-
Pretax Income	385,470	425,612	554,440	707,468	430,196
Income Tax Expense	63,380	70,459	94,257	127,393	70,284
Earnings From Continuing Ops.	322,090	355,153	460,183	580,075	359,912
Minority Interest in Earnings	-5,933	-4,799	-5,198	-6,721	-6,695
Net Income	316,157	350,354	454,984	573,354	353,217
Preferred Dividends & Other Adjustments	-	-	-	-	19,431
Net Income to Common	316,157	350,354	454,984	573,354	333,786
Net Income Growth	-9.76%	-23.00%	-20.64%	62.32%	97.86%
Shares Outstanding (Basic)	70	70	70	70	70
Shares Outstanding (Diluted)	70	70	70	70	70
EPS (Basic)	4516.53	5005.06	6499.78	8190.77	4768.37
EPS (Diluted)	4516.53	5005.06	6499.78	8190.77	4768.37
EPS Growth	-9.76%	-23.00%	-20.64%	71.77%	86.97%
Free Cash Flow	505,248	652,477	19,973	516,493	191,571
Free Cash Flow Per Share	7217.83	9321.11	285.33	7378.47	2736.74
Dividend Per Share	-	-	-	3000.000	3000.000
Dividend Growth	-	-	-	-	-58.51%
Profit Margin	41.97%	45.88%	53.27%	53.57%	44.60%
Free Cash Flow Margin	67.07%	85.44%	2.34%	48.26%	25.60%
EBITDA	432,131	479,804	577,975	758,701	507,897
EBITDA Margin	57.36%	62.83%	67.67%	70.89%	67.87%
D&A For EBITDA	97,483	97,343	92,762	90,703	88,848
EBIT	334,647	382,461	485,213	667,998	419,048
EBIT Margin	44.42%	50.09%	56.81%	62.41%	56.00%
Effective Tax Rate	16.44%	16.55%	17.00%	18.01%	16.34%
Revenue as Reported	753,350	763,629	854,040	-	-

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