CSV Income Statement - South Basic Chemicals JSC

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Price: 19 950 VND -0.25% Market Closed

Market Cap: ₫2.2T

S	South Basic Chemicals JSC VN:CSV	VN
	Svenska Cellulosa SCA AB OTC:SVCBF	SE
N	Noble Development PCL SET:NOBLE	TH
N	NTT System SA WSE:NTT	PL
	Boss Energy Ltd OTC:BQSSF	AU
C	Check Point Software Technologies Ltd LSE:0Y9S	IL
W	West Fraser Timber Co Ltd XHAN:WFC	CA
	Stella-Jones Inc TSX:SJ	CA
C	Cathay Pacific Airways Ltd OTC:CPCAF	HK
V	Veolia Environnement SA XETRA:VVD	FR
L	Louisiana-Pacific Corp SWB:LP3	US

Financial profile · Q2 FY2026

An earnings rebound is being offset by a working-capital cash-flow reversal

South Basic Chemicals has a cyclical earnings profile, with revenue and margins moving materially across chemical-market conditions. Historically, operating cash flow and free cash flow were generally positive, but the latest trailing period shows greater working-capital absorption and capital spending, separating reported profit growth from cash generation.

What changed

The June 30, 2026 results confirmed a sharp quarterly earnings recovery, while trailing operating cash flow and free cash flow moved below zero. The key change is therefore cash conversion rather than profitability, with working-capital outflows and increased capital spending absorbing operating gains.

What matters next

Whether receivables, inventory, and other working capital unwind enough for trailing operating cash flow to return positive while capital spending normalizes.

Metric	FY2016 Dec 2016	FY2017 Dec 2017	FY2018 Dec 2018	FY2019 Dec 2019	FY2020 Dec 2020	FY2021 Dec 2021	FY2022 Dec 2022	FY2023 Dec 2023	FY2024 Dec 2024	FY2025 Dec 2025
Revenue	1.5T	1.5T	1.6T	1.6T	1.3T	1.6T	2.1T	1.6T	1.9T	2.2T
Cost of Revenue	(1.1T)	(1T)	(1.2T)	(1.1T)	(975.3B)	(1.2T)	(1.4T)	(1.2T)	(1.4T)	(1.6T)
Gross Profit	404.5B	416B	423.5B	441.4B	363.6B	412B	660.2B	409.2B	504.9B	541B
Operating Expenses	(173.1B)	(125.4B)	(136.9B)	(131.9B)	(137.6B)	(145.3B)	(163.4B)	(160.1B)	(205.3B)	(287.2B)
Selling, General & Administrative	(163.3B)	(118.8B)	(133B)	(135.6B)	(135.4B)	(146.8B)	(166.5B)	(157.9B)	(203.4B)	(285.9B)
Depreciation & Amortization	(9.7B)	(6.6B)	(2.8B)	(2.2B)	(2.2B)	(1.9B)	(2.1B)	(1.9B)	(1.7B)	(1.1B)
Other Operating Expenses	—	—	(1.1B)	5.9B	80m	3.4B	5.1B	(281.2m)	(179.1m)	(212.1m)
Operating Income	231.5B	290.6B	286.6B	309.5B	226B	266.7B	496.7B	249.1B	299.6B	253.8B
Net Interest Income (Expense)	10.6B	19.9B	21.1B	5.3B	(57m)	6B	13.4B	35.7B	27.3B	35.5B
Interest Expense	8.1B	3.9B	5.5B	11.5B	12.5B	5.1B	2.9B	4.2B	2.4B	6.5B
Non-Recurring Items	(2.5B)	—	—	31m	(24m)	—	131.5m	111.2m	17.7m	—
Gain/Loss on Disposition of Assets	(7.1B)	0	2.2B	37m	272m	—	495.3m	0	1.5B	444.3m
Total Other Income	(3.5B)	(2.3B)	8.6B	(170m)	(646m)	155m	(69.5m)	4B	(10.9m)	3.4B
Pre-Tax Income	228.9B	308.3B	318.5B	314.6B	225.6B	272.9B	510.7B	288.8B	328.3B	293.1B
Tax Provision	(48.6B)	(62.5B)	(64.3B)	(63.5B)	(45.3B)	(54.8B)	(102.8B)	(58.2B)	(70B)	(63.8B)
Income from Continuing Operations	180.4B	245.8B	254.3B	251.1B	180.3B	218.1B	407.9B	230.6B	258.3B	229.3B
Income to Minority Interest	(4.1B)	(5.6B)	(1.9B)	(5.5B)	(1.5B)	(8.8B)	(53.5B)	(21.5B)	(19.7B)	(20.4B)
Net Income	176.3B	219.7B	231.3B	221.6B	160.7B	190B	315.3B	184B	216.9B	188B
EPS (Diluted)	4 006.45	4 993.65	5 256.04	5 035.88	3 652.65	4 318.34	2 853.61	1 665.09	1 963.32	1 701.80