Thac Mo Hydro Power 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	Jan '25 Jan 1, 2025	Jan '24 Jan 1, 2024	Dec '22 Dec 31, 2022	Jan '22 Jan 1, 2022
Net Income	317,453	350,354	454,984	573,354	353,217
Depreciation & Amortization	98,838	97,847	92,762	90,703	88,848
Other Amortization	1,120	-	-	-	-
Loss (Gain) on Sale of Assets	-	-	-	-	-55.57
Loss (Gain) on Equity Investments	-34,335	-29,621	-20,660	-20,074	-24,752
Change in Accounts Receivable	115,588	316,595	-347,563	-105,260	-82,943
Change in Inventory	-1,459	457.57	1,232	307.5	1,151
Change in Accounts Payable	71,118	5,841	-19,541	4,529	43,873
Change in Other Net Operating Assets	945.99	1,728	-1,336	-410.14	-647.11
Other Operating Activities	-54,484	-52,912	-106,433	-7,509	-27,080
Operating Cash Flow	514,784	690,291	53,447	535,641	351,612
Operating Cash Flow Growth	-25.42%	1191.55%	-90.02%	52.34%	45.61%
Capital Expenditures	-78,461	-37,813	-33,474	-19,148	-160,041
Sale of Property, Plant & Equipment	399.01	26.78	-	-	55.57
Divestitures	-	247.3	-	-	-
Investment in Securities	-	-	-	-319,000	189,203
Other Investing Activities	55,871	61,643	83,848	56,819	34,572
Investing Cash Flow	-319,991	-199,397	555,874	-281,329	63,790
Long-Term Debt Issued	-	-	10,000	-	124,607
Long-Term Debt Repaid	-51,904	-57,854	-55,104	-42,140	-3,000
Net Debt Issued (Repaid)	-51,904	-57,854	-45,104	-42,140	121,607
Common Dividends Paid	-90,638	-403,551	-516,557	-272,831	-504,473
Other Financing Activities	-	-	-	-	-5,825
Financing Cash Flow	-142,542	-461,405	-561,661	-314,971	-388,691
Net Cash Flow	52,251	29,489	47,660	-60,659	26,711
Free Cash Flow	436,323	652,477	19,973	516,493	191,571
Free Cash Flow Growth	-33.13%	3166.76%	-96.13%	169.61%	-
Free Cash Flow Margin	58.02%	85.44%	2.34%	48.26%	25.60%
Free Cash Flow Per Share	6233.19	9321.11	285.33	7378.47	2736.74
Cash Interest Paid	19,568	24,750	35,272	35,088	32,577
Cash Income Tax Paid	71,936	68,827	102,383	76,208	71,205
Levered Free Cash Flow	464,498	578,470	-18,279	417,854	75,663
Unlevered Free Cash Flow	476,692	593,815	3,755	439,881	96,307
Change in Working Capital	186,193	324,622	-367,207	-100,834	-38,566

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