The financial statements of BBT

Income statement, balance sheet and cash flow, by quarter and by year. Unit: VND billion, unless a line states otherwise.

Item	2025	2024	2023	2022
Revenue	310.2	248.5	171.9	167.0
Revenue Deductions	23.7	19.0	19.4	17.0
Net Revenue	286.5	229.5	152.5	150.0
Cost of Goods Sold	160.6	131.0	102.0	103.2
Gross Profit	125.9	98.5	50.5	46.8
Financial Income	15.6	13.8	17.0	15.4
Financial Expenses	12.9	14.8	11.7	17.0
Interest Expense	10.8	11.4	10.7	11.0
Share of Associates and Joint Ventures	—	0.0	0.0	0.0
Selling Expenses	74.5	49.3	26.9	22.2
General and Administrative Expenses	30.8	28.7	20.6	22.1
Operating Profit	23.4	19.6	8.2	1.0
Other Income	0.8	6.2	0.2	1.8
Other Expenses	1.3	0.5	0.1	1.1
Other Profit	-0.4	5.7	0.1	0.7
Profit Before Tax	23.0	25.3	8.3	1.6
Current Income Tax Expense	3.9	4.2	1.6	0.1
Deferred Income Tax Expense	0.1	0.2	-0.3	0.1
Net Income	18.9	20.8	7.0	1.4
Non-controlling Interest	—	0.0	0.0	0.0
Profit Attributable to Parent	18.9	20.8	7.0	1.4
Earnings per Share VND per share	1,649.00	2,127.00	710.00	147.00
Diluted EPS VND per share	1,649.00	2,127.00	710.00	147.00

Item	2025	2024	2023	2022
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	175.9	212.0	212.8	236.7
I. Cash and cash equivalents	47.1	35.0	8.5	15.9
1. Cash	32.1	31.0	8.5	6.9
2. Cash equivalents	15.0	4.0	0.0	9.0
II. Short-term financial investments	—	0.0	0.0	29.7
1. Available for sale securities	—	0.0	0.0	10.7
2. Provision for diminution in value of available for sale securities (*)	—	0.0	0.0	-2.3
3. Held to maturity investments	—	0.0	0.0	21.4
III. Short-term receivables	96.3	129.1	160.6	152.4
1. Short-term trade accounts receivable	51.0	37.6	26.7	33.5
2. Short-term prepayments to suppliers	6.7	3.6	6.7	0.4
3. Short-term inter-company receivables	—	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	0.0	0.0	0.0
5. Short-term loan receivables	38.0	85.4	123.5	117.0
6. Other short-term receivables	2.2	3.9	7.5	5.3
7. Provision for short-term doubtful debts (*)	-1.5	-1.4	-3.7	-3.7
8. Assets awaiting resolution	—	0.0	0.0	0.0
IV. Inventories	29.3	46.4	42.0	35.1
1. Inventories	30.3	47.6	42.1	35.2
2. Provision for decline in value of inventories	-1.0	-1.2	-0.1	-0.1
V. Other short-term assets	3.1	1.4	1.7	3.6
1. Short-term prepayments	2.4	1.1	1.1	1.4
2. Value added tax to be reclaimed	0.0	0.1	0.5	1.1
3. Taxes and other receivables from state authorities	0.7	0.2	0.1	1.1
4. Government bonds	—	0.0	0.0	0.0
5. Other short-term assets	—	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	205.4	112.4	82.1	83.2
I. Long-term receivables	99.2	14.2	0.0	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	0.0	0.0	0.0
3. Capital at inter-company	—	0.0	0.0	0.0
4. Long-term inter-company receivables	—	0.0	0.0	0.0
5. Long-term loan receivables	99.0	14.0	0.0	0.0
6. Other long-term receivables	0.2	0.2	0.0	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0
II. Fixed assets	80.4	81.9	73.1	77.2
1. Tangible fixed assets	79.9	80.9	71.7	75.2
- Cost	159.5	151.4	131.7	126.1
- Accumulated depreciation	-79.6	-70.5	-60.1	-50.9
2. Financial leased fixed assets	—	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0
3. Intangible fixed assets	0.5	1.0	1.5	2.0
- Cost	2.7	2.5	2.5	2.5
- Accumulated depreciation	-2.2	-1.5	-1.0	-0.5
III. Investment properties	—	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0
IV. Long-term assets in progress	21.4	11.4	3.4	0.0
1. Long-term production in progress	—	0.0	0.0	0.0
2. Construction in progress	21.4	11.4	3.4	0.0
V. Long-term financial investments	—	0.0	0.0	0.0
1. Investments in subsidiaries	—	0.0	0.0	0.0
2. Investments in associates, joint-ventures	—	0.0	0.0	0.0
3. Investments in other entities	—	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	—	0.0	0.0	0.0
5. Held to maturity investments	—	0.0	0.0	0.0
6. Other long-term investments	—	0.0	0.0	0.0
VI. Other long-term assets	4.3	4.9	5.6	6.1
1. Long-term prepayments	4.3	4.8	5.3	6.1
2. Deferred income tax assets	—	0.1	0.3	0.0
3. Long-term equipment, supplies, spare parts	—	0.0	0.0	0.0
4. Other long-term assets	—	0.0	0.0	0.0
5. Goodwill	—	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	381.3	324.3	294.9	320.0
A. LIABILITIES (300=210+330)	116.7	170.5	161.9	188.8
I. Short -term liabilities	116.7	91.6	88.6	81.9
1. Short-term trade accounts payable	13.1	14.3	13.5	6.7
2. Short-term advances from customers	10.5	9.9	9.7	9.7
3. Taxes and other payables to state authorities	4.8	3.6	2.1	0.1
4. Payable to employees	11.3	10.8	6.5	6.0
5. Short-term acrrued expenses	8.8	7.7	7.2	10.6
6. Short-term inter-company payables	—	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	0.0	0.0	0.0
8. Short-term unearned revenue	—	0.0	0.0	0.0
9. Other short-term payables	1.9	1.5	7.6	7.6
10. Short-term borrowings and financial leases	66.2	43.7	41.9	41.1
11. Provision for short-term liabilities	0.1	0.1	0.1	0.1
12.. Bonus and welfare fund	—	0.0	0.0	0.0
13. Price stabilization fund	—	0.0	0.0	0.0
14. Government bonds	—	0.0	0.0	0.0
II. Long-term liabilities	—	78.9	73.3	106.9
1. Long-term trade payables	—	0.0	0.0	0.0
2. Long-term advances from customers	—	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	0.0
4. Inter-company payables on business capital	—	0.0	0.0	0.0
5. Long-term inter-company payables	—	0.0	0.0	0.0
6. Long-term unearned revenue	—	0.0	0.0	0.0
7. Other long-term liabilities	—	0.0	0.0	0.0
8. Long-term borrowings and financial leases	—	78.9	73.3	106.9
9. Convertible bonds	—	0.0	0.0	0.0
10. Preferred stock (Debts) VND per share	—	0.00	0.00	0.00
11. Deferred income tax liabilities	—	0.0	0.0	0.0
12. Provision for long-term liabilities	—	0.0	0.0	0.0
13. Fund for technology development	—	0.0	0.0	0.0
14. Provision for severance allowances	—	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	264.5	153.9	133.0	131.2
I. Owner's equity	264.5	153.9	133.0	131.2
1. Owner's capital	196.0	98.0	98.0	98.0
- Common stock with voting right VND per share	196,000,000,000.00	98,000,000,000.00	98,000,000,000.00	98,000,000,000.00
- Preferred stock VND per share	—	0.00	0.00	0.00
2. Share premium	24.8	25.2	25.2	25.2
3. Convertible bond option	—	0.0	0.0	0.0
4. Other capital of owners	—	0.0	0.0	0.0
5. Treasury shares VND per share	—	0.00	0.00	0.00
6. Assets revaluation differences	—	0.0	0.0	0.0
7. Foreign exchange differences	—	0.0	0.0	0.0
8. Investment and development fund	9.5	9.5	9.5	9.5
9. Fund to support corporate restructuring	—	0.0	0.0	0.0
10. Other funds from owner's equity	—	0.0	0.0	0.0
11. Undistributed earnings after tax	34.3	21.2	0.4	-1.5
- Accumulated retained earning at the end of the previous period	15.3	0.4	-6.6	-2.9
- Undistributed earnings in this period	18.9	20.8	7.0	1.4
12. Reserves for investment in construction	—	0.0	0.0	0.0
13. Minority's interest	—	0.0	0.0	0.0
14. Financial reserves	—	0.0	0.0	0.0
II. Other resources and funds	—	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	0.0	0.0	0.0
2. Funds invested in fixed assets	—	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	381.3	324.3	294.9	320.0

Item	2025	2024	2023	2022
Profit Before Tax	23.0	25.3	8.3	1.6
Depreciation of Fixed Assets and Investment Property	12.8	10.9	9.6	8.3
Provision (Increase)/Reversal	0.2	2.3	-2.3	2.4
FX Gain/Loss from Revaluation of Monetary Items	2.0	2.8	2.6	3.7
Gain/Loss from Investment Activities	-14.9	-13.8	-16.6	-13.3
Interest Expense	10.8	11.4	10.7	11.0
Gain/Loss on Disposal of Fixed Assets	—	0.0	0.0	0.0
Interest Income and Dividends	—	0.0	0.0	0.0
Amortization of Goodwill	—	0.0	0.0	0.0
Other Adjustments	—	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	33.9	38.8	12.4	13.7
Increase/(Decrease) in Receivables	-14.8	-11.5	6.0	-7.5
Increase/(Decrease) in Inventory	17.3	-5.5	-6.9	1.9
Increase/(Decrease) in Payables (Excl. Interest and CIT)	2.7	0.1	5.6	-2.8
Increase/(Decrease) in Prepaid Expenses	-0.9	0.5	1.1	1.2
Changes in Trading Securities	—	0.0	10.7	9.5
Interest Paid	-10.6	-13.0	-13.7	-8.4
Corporate Income Tax Paid	-3.6	-3.0	-2.2	-2.4
Other Operating Receipts	—	0.0	0.0	0.0
Other Operating Payments	—	0.0	0.0	0.0
Net Cash Flow from Operating Activities	24.1	6.4	12.9	5.2
Payments for Fixed Assets and Other Long-term Assets	-27.4	-23.4	-14.0	-20.3
Proceeds from Disposal of Fixed Assets and Long-term Assets	1.1	0.0	0.0	0.9
Loans and Purchases of Debt Instruments	-185.5	-56.9	-125.5	-267.4
Receipts from Loan Repayments and Sale of Debt Instruments	147.9	81.0	140.4	224.0
Investments in Other Entities	—	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	0.0	0.0	0.0
Dividends and Interest Income Received	17.6	14.8	14.3	11.9
Increase/(Decrease) in Term Deposits	—	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	0.0	0.0	0.0
Other Investing Receipts	—	0.0	0.0	0.0
Other Investing Payments	—	0.0	0.0	0.0
Net Cash Flow from Investing Activities	-46.3	15.5	15.2	-50.8
Proceeds from Equity Issuance and Capital Contributions VND per share	97,651,850,000.00	0.00	0.00	0.00
Share Repurchases VND per share	—	0.00	0.00	0.00
Proceeds from Borrowings	128.4	143.8	63.4	51.4
Repayment of Borrowings	-186.9	-139.2	-98.9	-51.4
Repayment of Finance Leases	—	0.0	0.0	0.0
Dividends Paid	-4.9	0.0	0.0	0.0
Other Financing Receipts	—	0.0	0.0	0.0
Other Financing Payments	—	0.0	0.0	0.0
Net Cash Flow from Financing Activities	34.3	4.6	-35.5	0.0
Net Cash Flow During the Period	12.1	26.5	-7.4	-45.6
Cash and Cash Equivalents at Beginning of Period	35.0	8.5	15.9	61.5
FX Difference from Revaluation	—	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	47.1	35.0	8.5	15.9

Item	Q2'26	Q1'26	Q4'25
Revenue	85.0	77.3	87.7
Revenue Deductions	6.0	9.7	7.4
Net Revenue	79.0	67.6	80.3
Cost of Goods Sold	39.4	36.3	45.5
Gross Profit	39.6	31.3	34.8
Financial Income	4.5	4.4	4.1
Financial Expenses	1.7	1.8	2.2
Interest Expense	1.7	1.8	2.3
Selling Expenses	18.1	21.2	23.9
General and Administrative Expenses	8.2	8.6	9.5
Operating Profit	16.1	4.0	3.3
Other Income	0.1	0.0	0.3
Other Expenses	0.0	0.0	0.2
Other Profit	0.0	0.0	0.1
Profit Before Tax	16.2	4.0	3.4
Current Income Tax Expense	3.3	0.8	0.7
Net Income	12.9	3.2	2.7
Profit Attributable to Parent	12.9	3.2	2.7
Earnings per Share VND per share	754.00	68.00	139.00
Diluted EPS VND per share	754.00	68.00	139.45

Item	Q2'26	Q1'26	Q4'25
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	281.5	164.1	175.9
I. Cash and cash equivalents	30.8	31.7	32.1
1. Cash	22.8	24.7	32.1
2. Cash equivalents	8.0	7.0	—
II. Short-term financial investments	144.3	44.0	15.0
3. Held to maturity investments	144.3	44.0	15.0
III. Short-term receivables	59.1	50.7	96.3
1. Short-term trade accounts receivable	38.5	35.8	51.0
2. Short-term prepayments to suppliers	19.7	10.8	6.7
5. Short-term loan receivables	—	—	38.0
6. Other short-term receivables	2.0	5.6	2.2
7. Provision for short-term doubtful debts (*)	-1.1	-1.5	-1.5
IV. Inventories	43.6	34.1	29.3
1. Inventories	44.7	35.1	30.3
2. Provision for decline in value of inventories	-1.0	-1.0	-1.0
V. Other short-term assets	3.7	3.7	3.1
1. Short-term prepayments	3.2	3.4	2.4
2. Value added tax to be reclaimed	0.1	0.0	0.0
3. Taxes and other receivables from state authorities	0.5	0.3	0.7
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	110.8	207.8	206.4
I. Long-term receivables	0.2	0.2	99.2
5. Long-term loan receivables	—	—	99.0
6. Other long-term receivables	0.2	0.2	0.2
II. Fixed assets	94.0	95.9	81.3
1. Tangible fixed assets	93.0	95.4	80.7
- Cost	179.2	178.1	—
- Accumulated depreciation	-86.2	-82.7	—
3. Intangible fixed assets	1.0	0.4	0.5
- Cost	3.4	1.9	—
- Accumulated depreciation	-2.4	-1.4	—
IV. Long-term assets in progress	10.8	8.1	21.4
2. Construction in progress	10.8	8.1	21.4
V. Long-term financial investments	—	99.0	—
5. Held to maturity investments	—	99.0	—
VI. Other long-term assets	5.8	4.7	4.5
1. Long-term prepayments	5.8	4.7	4.3
2. Deferred income tax assets	—	—	0.2
TOTAL ASSETS (280=100+200)	392.3	372.0	382.3
A. LIABILITIES (300=210+330)	111.6	104.2	115.2
I. Short -term liabilities	111.6	104.2	51.6
1. Short-term trade accounts payable	14.3	12.4	13.1
2. Short-term advances from customers	9.8	10.3	10.5
3. Dividends and profits payable	0.0	—	—
3. Taxes and other payables to state authorities	5.0	2.0	2.7
4. Payable to employees	7.8	5.7	11.2
5. Short-term acrrued expenses	7.2	6.7	9.5
9. Other short-term payables	2.3	2.2	1.9
10. Short-term borrowings and financial leases	65.1	64.8	2.5
11. Provision for short-term liabilities	0.1	0.1	0.1
II. Long-term liabilities	—	—	63.7
8. Long-term borrowings and financial leases	—	—	63.7
B. OWNER'S EQUITY (400=410+430)	280.7	267.7	267.1
I. Owner's equity	280.7	267.7	267.1
1. Owner's capital	196.0	196.0	196.0
- Common stock with voting right VND per share	196,000,000,000.00	196,000,000,000.00	196,000,000,000.00
2. Share premium	24.8	24.8	24.8
8. Investment and development fund	9.5	9.5	9.5
11. Undistributed earnings after tax	50.4	37.5	36.8
- Accumulated retained earning at the end of the previous period	34.3	34.3	15.8
- Undistributed earnings in this period	16.1	3.2	21.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	392.3	372.0	382.3

Item	Q2'26	Q1'26	Q4'25
Profit Before Tax	16.2	4.0	23.0
Depreciation of Fixed Assets and Investment Property	3.8	3.1	12.8
Provision (Increase)/Reversal	-0.4	—	0.2
FX Gain/Loss from Revaluation of Monetary Items	—	—	2.0
Gain/Loss from Investment Activities	-4.5	-4.4	-14.9
Interest Expense	1.7	1.8	10.8
Operating Profit Before Changes in Working Capital	16.8	4.6	33.9
Increase/(Decrease) in Receivables	-2.8	7.6	-14.8
Increase/(Decrease) in Inventory	-9.6	-4.8	17.3
Increase/(Decrease) in Payables (Excl. Interest and CIT)	4.7	-8.4	2.7
Increase/(Decrease) in Prepaid Expenses	-0.9	-1.3	-0.9
Interest Paid	-1.9	-1.8	-10.6
Corporate Income Tax Paid	-0.4	-3.6	-3.6
Other Operating Payments	—	0.3	—
Net Cash Flow from Operating Activities	5.6	-7.3	24.1
Payments for Fixed Assets and Other Long-term Assets	-4.7	-5.3	-27.4
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.1	—	1.1
Loans and Purchases of Debt Instruments	-26.0	-61.0	-185.5
Receipts from Loan Repayments and Sale of Debt Instruments	20.0	55.0	147.9
Dividends and Interest Income Received	4.1	4.4	17.6
Net Cash Flow from Investing Activities	-6.5	-6.9	-46.3
Share Repurchases VND per share	-4,800,000.00	—	—
Proceeds from Borrowings	0.0	2.2	128.4
Repayment of Borrowings	0.0	-3.5	-186.9
Dividends Paid	—	—	-4.9
Net Cash Flow from Financing Activities	-0.0	-1.3	34.3
Net Cash Flow During the Period	-0.9	-15.4	12.1
Cash and Cash Equivalents at Beginning of Period	31.7	47.1	35.0
Cash and Cash Equivalents at End of Period	30.8	31.7	47.1

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