Vinh Son - Song Hinh Hydropower JSC (HOSE: VSH)

VSH Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	1,798,834	2,572,042	3,084,637	1,611,301	340,618	400,284
Revenue Growth (YoY)	-37.85%	-16.62%	91.44%	373.05%	-14.91%	-28.97%
Selling, General & Admin	20,278	28,522	32,191	9,648	7,527	7,804
Depreciation & Amortization	587.31	587.31	589.13	495.6	592.4	619.59
Provision for Bad Debts	-	-	922.47	8,186	-	-
Other Operating Expenses	1,019,003	1,044,583	1,105,835	823,424	218,819	217,510
Total Operating Expenses	1,039,868	1,073,692	1,139,537	841,753	226,939	225,933
Operating Income	758,966	1,498,350	1,945,100	769,548	113,680	174,350
Interest Expense	-392,413	-392,413	-408,092	-323,440	-1,251	-1,250
Interest Income	9,920	5,309	5,905	3,299	2,334	4,135
Net Interest Expense	-382,493	-387,104	-402,187	-320,140	1,083	2,885
Income (Loss) on Equity Investments	-	-	-	-	792	1,440
Currency Exchange Gain (Loss)	-13,700	-13,700	-20,833	7,252	1,440	-972.17
Other Non-Operating Income (Expenses)	65,626	-4,413	-113,360	-5,626	-217.8	384.88
EBT Excluding Unusual Items	428,398	1,093,133	1,408,720	451,034	116,777	178,088
Gain (Loss) on Sale of Investments	-	-	-	-	118,925	-
Legal Settlements	-700	-700	-28,886	-	-	-
Pretax Income	427,698	1,092,433	1,379,834	451,034	235,702	178,088
Income Tax Expense	50,857	98,443	114,989	63,761	47,405	19,070
Net Income	376,842	993,990	1,264,845	387,273	188,297	159,018
Preferred Dividends & Other Adjustments	-	-	8,048	11,749	5,322	5,433
Net Income to Common	376,842	993,990	1,256,797	375,524	182,975	153,585
Net Income Growth	-67.16%	-21.41%	226.60%	105.67%	18.41%	-48.07%
Shares Outstanding (Basic)	235	236	236	233	206	206
Shares Outstanding (Diluted)	235	236	236	233	206	206
Shares Change (YoY)	-0.87%	-	1.23%	13.15%	-	-
EPS (Basic)	1602.25	4207.52	5319.97	1609.17	887.19	744.69
EPS (Diluted)	1602.25	4207.52	5319.97	1609.00	887.00	744.69
EPS Growth	-66.63%	-20.91%	230.64%	81.40%	19.11%	-48.46%
Free Cash Flow	1,542,267	1,031,437	1,347,728	425,820	-586,962	-854,413
Free Cash Flow Per Share	6557.40	4366.03	5704.88	1824.70	-2846.00	-4142.78
Dividend Per Share	-	-	3000.000	1000.000	-	-
Dividend Growth	-	-	200.00%	-	-	-
Profit Margin	20.95%	38.65%	40.74%	23.31%	53.72%	38.37%
Free Cash Flow Margin	85.74%	40.10%	43.69%	26.43%	-172.32%	-213.45%
EBITDA	1,350,991	2,085,617	2,536,837	1,239,609	197,112	256,543
EBITDA Margin	75.10%	81.09%	82.24%	76.93%	57.87%	64.09%
D&A For EBITDA	592,025	587,267	591,738	470,061	83,433	82,192
EBIT	758,966	1,498,350	1,945,100	769,548	113,680	174,350
EBIT Margin	42.19%	58.26%	63.06%	47.76%	33.37%	43.56%
Effective Tax Rate	11.89%	9.01%	8.33%	14.14%	20.11%	10.71%

Source: S&P Capital IQ. Utility template. Financial Sources.