2019 2020

Working Capital turnover 12.82 12.04

Fixed Asset turnover 9.14 8.15
Total Asset turnover 1.77 1.73
Inventory turnover 3.33 3.68
Activity ratio Days of inventory on hand (DOH) 108.26 97.72
Receivables turnover 9.70 8.68
Days of sales outstanding (DSO) 37.10 41.46
Payables turnover 2.20 2.38
Number of days of payables 163.28 151.08
Current ratio 1.22 1.27
Liquid Quick ratio 0.55 0.57
Cash ratio 0.21 0.24
Debt-to-assets ratio 0.65 0.61
Debt-to-capital ratio 0.65 0.61
Solvency Debt-to-equity ratio 1.89 1.53
Financial leverage ratio 3.01 2.71
Interest coverage 54.57 67.25
Gross profit margin 0.13 0.16
Operating profit margin 0.08 0.10
Profitability ratios ROS 0.02 0.03
ROE 0.28 0.37
ROA 0.09 0.14
2021 2022 2023
14.61 14.85 15.10
11.81 13.23 14.66
2.28 2.14 2.25
3.68 3.16 3.99
97.92 113.92 90.32
19.54 21.63 15.33
18.43 16.64 23.48
3.92 2.80 2.70
91.80 128.75 133.09
1.25 1.20 1.27
0.20 0.38 0.55
0.10 0.19 0.29
0.65 0.68 0.63
0.65 0.68 0.63
1.83 2.16 1.69
2.69 3.00 2.93
134.75 89.18 74.62
0.13 0.12 0.12
0.10 0.08 0.07
0.04 0.02 0.02
0.48 0.38 0.32
0.18 0.13 0.11
BFC 2018 2019 2020 2021 2022 2023
Period 01/01-31/12 01/01-31/12 01/01-31/12 01/01-31/12 01/01-31/12 01/01-31/12

1. Revenue 6,500,449,784 6,228,490,457 5,521,825,143 7,882,004,657 8,706,682,358 8,706,345,659

2. Deduction from revenue 118,560,807 96,058,579 103,432,529 139,208,172 125,324,256 118,036,575
3. Net revenue 6,381,888,977 6,132,431,879 5,418,392,614 7,742,796,484 8,581,358,101 8,588,309,084
4. Cost of goods sold 5,542,136,460 5,396,605,135 4,663,281,634 6,837,873,045 7,693,227,464 7,680,240,977
5. Gross profit 839,752,517 735,826,743 755,110,980 904,923,440 888,130,637 908,068,107
6. Financial income 13,626,614 7,345,294 7,230,733 7,233,668 13,936,203 20,864,955
7. Financial expenses 139,295,164 146,317,181 106,267,481 87,169,295 145,413,457 140,370,637
Of which: Interest expenses 106,835,764 115,183,618 82,303,255 58,445,155 97,903,378 117,490,942
8. Share of associates and joint ventures' result
9. Selling expenses 301,713,321 349,663,318 309,734,471 291,714,254 346,236,734 423,662,994
10. General and administrative expenses 119,868,738 129,419,642 148,482,664 164,574,775 164,258,019 165,628,466
11. Operating profit 292,501,908 117,771,896 197,857,098 368,698,784 246,158,630 199,270,965
12. Other income 21,527,972 20,288,613 3,719,449 3,220,009 1,072,506 2,016,507
13.Other expenses 1,618,254 1,381,663 1,398,385 687,790 1,643,089 5,048,623
14. Other profit 19,909,718 18,906,950 2,321,064 2,532,219 570,583 3,032,116
Share of associates and joint ventures' result
15. Profit before tax 312,411,626 136,678,846 200,178,162 371,231,003 245,588,047 196,238,848
16. Current corporate income tax expenses 59,111,649 42,530,935 37,040,649 78,296,619 51,682,073 63,138,368
17. Deferred income tax expenses (*) 5,106,577 2,802,174 3,822,145 442,431 1,717,336
18. Net profit after tax 253,299,977 99,254,488 165,939,687 296,756,528 193,463,543 134,817,816
Minority's interest 59,986,008 25,251,946 32,762,590 77,197,577 43,665,188 13,424,402
Profit after tax for shareholders of parent company 193,313,969 74,002,542 133,177,097 219,558,951 149,798,355 148,242,218
19. Earnings per share 3,043 1,165 2,097 3,457 2,358 2,334
20. Diluted earnings per share 3,043 1,165 2,097 3,457 2,334
 BFC 2018 2019 2020 2021 2022 2023
Period 01/01-31/12 01/01-31/12 01/01-31/12 01/01-31/12 01/01-31/12 01/01-31/12
ASSETS
A. SHORT-TERM ASSETS 2,881,249,980 2,485,377,267 2,209,650,012 3,044,872,411 3,486,914,435 2,743,330,306
I. Cash and cash equivalents 318,247,777 397,285,452 419,558,740 243,941,624 541,052,132 607,044,367
II. Short-term financial investments 46,472,419 24,346,512 3,000,000 3,000,000 20,000,000
III. Short-term receivables 577,522,069 695,917,535 568,497,589 230,761,683 566,256,305 561,030,719
IV. Inventories 1,898,573,810 1,347,103,381 1,184,666,132 2,534,995,188 2,333,762,830 1,519,917,491
V. Other short-term assets 40,433,905 20,724,386 36,927,552 32,173,916 42,843,169 35,337,729
B. LONG-TERM ASSETS 836,251,575 852,151,095 847,045,001 809,207,653 812,741,952 711,317,642
I. Long-term receivables 6,411,503 3,737,503 3,737,503 3,939,963 4,140,145 4,209,145
II. Fixed assets 763,191,124 760,585,986 760,196,091 750,781,888 752,627,639 646,373,395
III. Investment properties
IV. Long-term assets in progress 51,332,481 63,749,183 58,939,448 31,983,099 36,109,773 39,143,577
V. Long-term financial investments 8,177,478 8,177,478 7,335,430 6,705,619 6,046,047 5,681,327
VI. Other long-term assets 7,138,990 15,900,945 16,836,529 15,797,085 13,818,349 15,910,198
VII. Goodwill (before 2015)
TOTAL ASSETS 3,717,501,554 3,337,528,362 3,056,695,013 3,854,080,064 4,299,656,387 3,454,647,948
OWNER'S EQUITY
A. LIABILITIES 2,528,663,221 2,184,088,929 1,849,444,802 2,492,109,264 2,939,465,557 2,168,890,125
I. Short -term liabilities 2,352,076,446 2,043,077,164 1,734,668,452 2,441,142,622 2,917,765,291 2,159,289,938
II. Long-term liabilities 176,586,775 141,011,766 114,776,350 50,966,642 21,700,267 9,600,187
B. OWNER'S EQUITY 1,188,838,333 1,153,439,432 1,207,250,211 1,361,970,800 1,360,190,830 1,285,757,823
I. Owner's equity 1,188,838,333 1,153,439,432 1,207,250,211 1,361,970,800 1,360,190,830 1,285,757,823
II. Other resources and funds
C. MINORITY'S INTEREST
TOTAL OWNER'S EQUITY AND LIABILITIES 3,717,501,554 3,337,528,362 3,056,695,013 3,854,080,064 4,299,656,387 3,454,647,948
CASHFLOW INDIRECT 2018 2019
Period 01/01-31/12 01/01-31/12

I. CASH FLOWS FROM OPERATING ACTIVITIES

1. Profit before tax 312,411,626 136,678,846
2. Adjustments for:
Depreciation of fixed assets and properties investment 77,420,662 82,707,576
(Reversal of provisions)/provisions 1,006,672 1,330,211
Foreign exchange (gain)/loss from revaluation of monetary items denominated in foreign currencies
Loss/(profit) from investment activities 19,810,532 19,818,696
Interest expense 106,835,764 115,183,618
Loss/(profits) from disposal of fixed asset
Interest income and dividends
Allocation of goodwill
Adjustments for
3. Operating profit before changes in working capital 477,864,191 316,081,554
(Increase)/decrease in receivables 117,420,383 97,490,344
(Increase)/decrease in inventories 200,518,937 551,470,429
Increase/(decrease) in payables (other than interest, corporate income tax) 43,201,967 28,958,140
(Increase)/decrease in prepaid expenses 3,193,873 3,507,193
Changes in available for sale securities
Interest paid 106,835,764 110,325,291
Corporate income tax paid 60,310,945 32,121,232
Other receipts from operating activities 843,824 559,972
Other payments for operating activities 49,945,164 37,385,212
Net cash flows from operating activities 384,722,791 616,240,823
II. CASH FLOWS FROM INVESTING ACTIVITIES
1. Payment for fixed assets, constructions and other long-term assets 88,968,118 142,704,201
2. Receipts from disposal of fixed assets and other long-term assets 28,487,262 64,691,718
3. Loans, purchases of other entities' debt instruments 71,472,419
4. Receipts from loan repayments, sale of other entities' debt instruments 42,500,000 22,125,907
5. Payments for investment in other entities
6. Collections on investment in other entities
7. Dividends, interest and profit received 6,349,724 5,312,038
8. Increase/(Decrease) in term deposit
9. Purchases of minority shares of subsidiaries
10. Other receipts from investing activities
11. Other payments for investing activities
Net cash flows from investing activities 83,103,552 50,574,538
III. CASH FLOWS FROM FINANCING ACTIVITIES
1. Receipts from equity issue and owner's capital contribution
2. Payment for share repurchases
3. Proceeds from borrowings 4,526,436,340 3,418,215,197
4. Principal repayments 4,600,755,085 3,796,052,279
5. Repayment of financial leases 11,986,506 1,408,724
6. Dividends paid, profits distributed to owners 241,800,830 107,382,805
7. Other receipts from financing activities
8. Other payments for financing activities
Net cash flows from financing activities 328,106,082 486,628,610
Net cash flows during the period 26,486,843 79,037,675
Cash and cash equivalents at beginning of the period 344,734,620 318,247,777
Exchange difference due to re-valuation of ending balances
Cash and cash equivalents at end of the period 318,247,777 397,285,452
 2020 2021 2022 2023
01/01-31/12 01/01-31/12 01/01-31/12 01/01-31/12

200,178,162 371,231,003 234,452,984 196,238,848

83,477,441 93,144,849 94,121,899 117,001,403

4,487,571 16,508,166 15,759,082 12,197,082
138,895 1,042,619 524,643
1,537,545 628,319 836,143 3,417,103
82,303,255 58,445,155 97,903,378 68,956,155

368,769,988 541,000,111 440,876,557 390,976,386

170,728,529 404,450,409 280,552,222 3,634,951
162,437,249 1,350,329,056 196,190,672 816,359,634
98,204,705 274,952,747 294,097,881 218,738,187
3,012,185 75,950 823,762 1,575,805

87,711,248 58,259,795 96,883,099 68,956,155

54,110,913 55,190,372 63,557,735 51,331,371
40,000 352,980 200,000 561,920
15,281,466 16,951,577 26,068,114 39,310,195
449,679,618 259,898,602 123,068,060 827,502,886

88,110,271 69,483,805 83,595,257 13,025,306

46,279,924 303,636 211,818 129,091
3,000,000 2,000,000 17,000,000
24,346,512

2,520,713 21,287,695 624,325 2,486,382

14,963,122 50,892,473 84,759,113 27,409,833

3,031,624,619 4,119,065,192 5,539,932,063 4,162,927,331

3,349,607,398 3,849,176,655 4,886,828,728 4,742,463,584
360,750 1,739,935 6,914,297
94,417,364 134,407,369 146,282,859 147,650,269

412,400,142 135,120,419 505,080,540 734,100,818

22,316,355 175,670,656 297,253,367 65,992,235
397,285,452 419,558,740 243,941,624 541,052,132
43,067 53,540 142,859
419,558,740 243,941,624 541,052,132 607,044,367