CSV

Hóa chất Cơ bản Miền Nam ·HOSE ·2026Q1

▼ Under pressure

Margins remain under pressure Net margin 9.45%, −3.97pp YoY

Price

24,500

Latest close

03 Jun 2026

P/E 13.61x

P/B 1.62x

EPS 1,800

BVPS 15,084

ROE 12.2%

ROA 10.0%

Profit Margin 8.6%

Asset Turnover 1.16x

Equity Mult. 1.22x

TTM · Applied to: EPS, ROE, ROA, Net Margin, Asset Turnover, Debt/Equity

What Is Changing

On a TTM 2026Q1 basis, CSV is holding revenue at an acceptable level, but margins are eroding visibly — profit momentum has been slowing across consecutive periods. More notably, operating cash flow is significantly negative relative to profit — this is pressure that needs close monitoring.

	                            
	                                TTM REVENUE
	                            
	                                    VND 2,306bn
	                                
+16.1%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 218bn
	                                
−18.2%YoY

	                            
	                                CFO / Net Income
	                            
	                                    -0.28x
	                                
negative cash flow vs profit

Metric	2025	2024	2023	2022	2021
Revenue	2,160.1	1,855.6	1,588.4	2,104.3	1,574.4
Growth	+16%	+17%	-25%	+34%	—
Net Income	229.3	258.3	230.6	407.9	217.7
Net Margin	10.62%	13.92%	14.52%	19.39%	13.83%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	628.3	644.0	510.1	523.6	482.5	516.1	507.8	480.5	351.2	431.3	407.7	357.8
Growth	-2%	+26%	-3%	+9%	-7%	+2%	+6%	+37%	-19%	+6%	+14%	—
Net Income	45.1	41.0	60.1	71.7	56.0	55.1	78.7	76.7	49.7	53.1	51.1	57.1
Net Margin	7.19%	6.36%	11.78%	13.70%	11.61%	10.68%	15.51%	15.95%	14.15%	12.31%	12.53%	15.96%

Drivers of CSV's profit

TTM

Net profit attributable to parent declined vs last year, mainly due to higher selling expenses. Supporting and offsetting drivers:

Tax ↓ 18.7bn

Gross profit ↑ 12.4bn

Financial income ↑ 9.5bn

Selling expenses ↑ 66.6bn

Administrative expenses ↑ 7.8bn

Deferred tax ↑ 6.7bn

TTM

Net profit attributable to parent declined vs prior quarter, mainly due to higher selling expenses. Supporting and offsetting drivers:

Administrative expenses ↓ 6.8bn

Tax ↓ 3.8bn

Gross profit ↑ 2.7bn

Minority interests ↓ 1.4bn

Selling expenses ↑ 20.6bn

Finance costs ↑ 1.9bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 17.3% = 13.4% × 1.13 × 1.14

2026Q1 13.4% = 9.5% × 1.16 × 1.22

ROE fell from 17.3% to 13.4% — net margin weakened the most, though asset turnover and leverage still provided support.

Net margin: 9.5% -4.0pp Asset turnover: 1.16x +0.03x Leverage: 1.22x +0.07x

Is the profit sustainable?

Margins narrowed but earnings quality remains clean — pressure is mainly operational.

very positive positive stable watch under pressure

What is driving the margin?

Net margin fell to 9.45%, losing 4.0pp. The main pressure comes from Gross margin fell 3.2pp and SG&A / Revenue rose 1.6pp (with lingering pressure from Other profit / Revenue fell 0.1pp).

The pressure comes from core operations — this is a concerning type of decline, not a one-off movement.

Profitability trend

Net Margin 9.45% −4.0pp

Gross Margin 23.74% −3.2pp

SG&A / Revenue 13.05% +1.6pp

TTM YoY · 2025Q1 -> 2026Q1

Is capital being used efficiently?

Capital efficiency is declining — check whether the drag is from margins or turnover.

Is capital being deployed efficiently?

ROIC fell to 13.62%, losing 3.8pp. That translates to 13.62 in after-tax operating profit for every 100 units of operating capital. The main pressure came from NOPAT margin narrowed 3.9pp, outweighing the movement in capital turnover; while invested capital rose by 86bn.

Pressure came from the margin side — core operations are weakening, not just a temporary asset-management issue.

CAPITAL EFFICIENCY TREND

ROIC 13.62% −3.8pp

NOPAT Margin 9.49% −3.9pp

Capital Turnover 1.44x +0.13x

Average Invested Capital 1,606.7bn +86.5bn

Balance Sheet

ROIC declined — the balance sheet shows how capital is being deployed. Balance sheet is exceptionally sound — liabilities at 0.27x equity, with a net cash position equivalent to 0.02x equity.

Inventory ended the period at 484.7bn, roughly 23.5% of total assets.

Over the last 12 months, working capital absorbed 273.7bn of cash, mainly because of higher receivables and higher inventories. Part of that drag was offset by higher payables.

Working Capital Drivers

Receivables increased → lower CFO: −189.3bn

Inventories increased → lower CFO: −172.7bn

Payables increased → higher CFO: +88.3bn

Working Capital Efficiency

Cash conversion cycle lengthened by 8.4 days versus the same period last year. The main moves came from DIO fell 7.4 days, DSO rose 18.3 days, and DPO rose 2.4 days.

Working capital cycle lengthened mainly due to slower receivables collection — receivables quality needs monitoring.

Watchpoints

Cash conversion cycle remains stretched

CCC stands at 127.5 days, suggesting that working capital remains tied up for a relatively long operating cycle.

Receivables collection is slowing

DSO increased by +18.3 days, pointing to slower receivables turnover.

Working Capital Efficiency

Receivables 61.1 days +18.3 days

Inventory 80.7 days −7.4 days

Payables 14.3 days +2.4 days

Cash Conversion Cycle 127.5 days +8.4 days

Is financial risk significant?

Financial risk is low — the company has net cash and CFO reached 64.8bn.

Leverage & Liquidity

Leverage looks fairly comfortable, with net debt / equity at -0.02x and interest coverage at 30.42x.

At present, short-term debt accounts for 100.0% of total debt, cash equals 317.8% of debt, and total debt stands at 15.7bn.

Watchpoints

Short-term refinancing pressure is meaningful

Short-term debt accounts for 100.0% of total debt, raising near-term refinancing needs.

Leverage and liquidity trend

Net Debt / Equity -0.02x −0.01x

Interest Coverage 30.42x −60.41x

Cash / Debt 317.8% +207.2pp

Short-term Debt / Total Debt 100.0% 0.0pp

CFO / NI -0.28x −1.29x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 64.8bn in 2025, against investing cash flow of -49.6bn.

Post-investment cash flow was positive +15.2bn. Financing cash flow was negative +96.1bn.

CFO / net income was -0.28x.

After spending +72.0bn on fixed-asset investment, the business generated trailing free cash flow of −128.3bn.

Cash Conversion

CFO TTM 56.3bn −304.4bn

Cash Capex 72.0bn +46.4bn

FCF TTM −128.3bn −350.8bn

Investment Takeaway

The business is showing a few weaker signals, but the current magnitude is not yet clear enough to conclude that this is a broader weakening phase. The brighter spot is earnings conversion is confirmed, with CFO/NI at -0.28x. The main risk still sits in core profitability, with net margin down 4.0 pp.

Improvement: earnings conversion looks more confirmed, with CFO / net income at -0.28x.

Key risk: profitability remains under pressure, with trailing-12M net margin at 9.45% after a 4.0pp decline versus the same period last year.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	2,160.1	1,855.6	1,588.4	2,104.3	1,574.4
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	2,160.1	1,855.6	1,588.4	2,104.3	1,574.4
Cost of Goods Sold	1,619.2	1,350.7	1,179.3	1,444.1	0.0
Gross Profit	541.0	504.9	409.2	660.2	411.8
Financial Income	42.7	30.1	40.5	21.5	12.3
Financial Expenses	7.2	2.9	4.8	8.0	-6.3
Interest Expense	6.5	2.4	4.2	2.9	-5.1
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	-0.0
Selling Expenses	170.7	111.5	82.7	84.8	-79.2
General and Administrative Expenses	116.6	93.4	77.4	78.6	-66.2
Operating Profit	289.3	327.2	284.7	510.2	272.4
Other Income	5.7	1.6	4.3	0.6	0.0
Other Expenses	1.9	0.5	0.2	0.1	0.0
Other Profit	3.9	1.1	4.1	0.6	0.0
Profit Before Tax	293.1	328.3	288.8	510.7	272.4
Current Income Tax Expense	57.9	69.6	62.3	106.7	-54.7
Deferred Income Tax Expense	5.9	0.4	-4.1	-3.9	0.0
Net Income	229.3	258.3	230.6	407.9	217.7
Non-controlling Interest	20.4	19.7	21.5	53.5	8.8
Profit Attributable to Parent	208.9	238.6	209.1	354.4	208.9
Earnings per Share	1,702.00	1,970.00	4,166.00	7,395.00	4,727.00
Diluted EPS	1,702.00	1,970.00	4,731.64	7,395.00	4,726.86

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	1,678.6	1,464.0	1,303.6	1,248.0	935.7
I. Cash and cash equivalents	91.7	172.6	107.0	190.3	182.2
1. Cash	91.7	84.6	67.0	56.3	0.0
2. Cash equivalents	—	88.0	40.0	134.0	0.0
II. Short-term financial investments	627.0	605.0	540.0	335.0	0.0
1. Available for sale securities	—	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	0.0	0.0	0.0	0.0
3. Held to maturity investments	627.0	605.0	540.0	335.0	0.0
III. Short-term receivables	426.4	296.3	236.1	287.8	224.8
1. Short-term trade accounts receivable	374.2	266.5	222.0	275.9	0.0
2. Short-term prepayments to suppliers	29.1	9.8	4.4	4.7	0.0
3. Short-term inter-company receivables	—	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	0.0	0.0	0.0	0.0
5. Short-term loan receivables	—	0.0	0.0	0.0	0.0
6. Other short-term receivables	26.3	23.0	12.6	10.9	0.0
7. Provision for short-term doubtful debts (*)	-3.2	-3.0	-2.9	-3.7	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	484.7	340.6	365.5	381.7	342.7
1. Inventories	484.7	340.6	368.7	391.8	0.0
2. Provision for decline in value of inventories	—	0.0	-3.2	-10.1	0.0
V. Other short-term assets	48.8	49.5	54.9	53.1	61.0
1. Short-term prepayments	1.3	1.9	1.9	3.1	0.0
2. Value added tax to be reclaimed	45.6	44.5	49.7	48.1	0.0
3. Taxes and other receivables from state authorities	1.9	3.1	3.3	2.0	0.0
4. Government bonds	—	0.0	0.0	0.0	0.0
5. Other short-term assets	—	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	380.1	395.0	418.3	470.5	520.1
I. Long-term receivables	0.5	0.4	0.5	1.2	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	1.0
2. Long-term prepayments to suppliers	—	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	0.0	0.0	0.0	0.0
6. Other long-term receivables	0.5	0.4	0.5	1.2	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	46.4	62.7	78.4	122.9	130.9
1. Tangible fixed assets	44.6	60.9	76.7	120.8	128.1
- Cost	1,137.4	1,126.0	1,105.6	1,088.6	0.0
- Accumulated depreciation	-1,092.8	-1,065.1	-1,028.9	-967.8	0.0
2. Financial leased fixed assets	—	0.0	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0	0.0
3. Intangible fixed assets	1.8	1.8	1.8	2.1	2.8
- Cost	6.4	6.4	6.4	6.4	0.0
- Accumulated depreciation	-4.6	-4.6	-4.6	-4.3	0.0
III. Investment properties	—	0.0	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	18.5	3.1	1.4	0.4	34.0
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	18.5	3.1	1.4	0.4	0.0
V. Long-term financial investments	—	0.0	0.0	0.0	0.0
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	—	0.0	0.0	0.0	0.0
3. Investments in other entities	—	0.0	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	—	0.0	0.0	0.0	0.0
5. Held to maturity investments	—	0.0	0.0	0.0	0.0
6. Other long-term investments	—	0.0	0.0	0.0	0.0
VI. Other long-term assets	314.8	328.7	338.0	346.0	0.0
1. Long-term prepayments	307.4	316.2	325.1	337.2	0.0
2. Deferred income tax assets	7.4	12.5	12.9	8.8	0.0
3. Long-term equipment, supplies, spare parts	—	0.0	0.0	0.0	0.0
4. Other long-term assets	—	0.0	0.0	0.0	354.2
5. Goodwill	—	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	2,058.7	1,859.0	1,722.0	1,718.4	1,455.8
A. LIABILITIES (300=210+330)	437.1	305.0	285.7	289.5	296.4
I. Short -term liabilities	421.3	305.0	285.7	289.5	296.4
1. Short-term trade accounts payable	100.5	33.4	32.3	23.1	96.8
2. Short-term advances from customers	2.3	1.2	0.3	2.5	2.7
3. Taxes and other payables to state authorities	35.7	42.3	56.1	17.6	0.0
4. Payable to employees	55.3	37.4	36.6	45.6	0.0
5. Short-term acrrued expenses	26.6	22.5	13.2	12.0	0.0
6. Short-term inter-company payables	—	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	—	0.0	0.0	0.0	0.0
9. Other short-term payables	2.9	1.7	7.6	48.0	0.0
10. Short-term borrowings and financial leases	157.8	122.2	100.9	126.4	70.3
11. Provision for short-term liabilities	—	0.0	0.0	4.1	0.0
12.. Bonus and welfare fund	40.2	44.2	38.7	10.3	0.0
13. Price stabilization fund	—	0.0	0.0	0.0	0.0
14. Government bonds	—	0.0	0.0	0.0	0.0
II. Long-term liabilities	15.8	0.0	0.0	0.0	0.0
1. Long-term trade payables	—	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	0.0	0.0	0.0	0.0
7. Other long-term liabilities	—	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	—	0.0	0.0	0.0	0.0
9. Convertible bonds	—	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	0.8	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	0.0	0.0	0.0	0.0
13. Fund for technology development	15.0	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	1,621.6	1,554.0	1,436.2	1,428.9	1,159.4
I. Owner's equity	1,621.6	1,554.0	1,436.2	1,428.9	0.0
1. Owner's capital	1,105.0	1,105.0	442.0	442.0	1,159.4
- Common stock with voting right	1,104,999,100,000.00	1,104,999,100,000.00	442,000,000,000.00	442,000,000,000.00	442,000,000,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	—	0.0	0.0	0.0	0.0
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	23.0	23.0	23.0	23.0	23.0
5. Treasury shares	—	0.00	0.00	0.00	0.00
6. Assets revaluation differences	-25.4	-25.4	-25.4	-25.4	0.0
7. Foreign exchange differences	—	0.0	0.0	0.0	0.0
8. Investment and development fund	142.4	78.9	645.9	564.9	0.0
9. Fund to support corporate restructuring	—	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	—	0.0	11.9	11.9	0.0
11. Undistributed earnings after tax	320.7	313.0	292.4	333.8	204.8
- Accumulated retained earning at the end of the previous period	132.7	95.3	108.2	39.5	15.0
- Undistributed earnings in this period	188.0	217.6	184.1	294.2	189.8
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	55.9	59.6	46.5	78.8	34.7
14. Financial reserves	—	0.0	0.0	0.0	0.0
II. Other resources and funds	—	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	2,058.7	1,859.0	1,722.0	1,718.4	1,455.8

Item	2025	2024	2023	2022	2021
Profit Before Tax	293.1	328.3	288.8	510.7	272.5
Depreciation of Fixed Assets and Investment Property	33.9	44.6	61.4	63.5	51.5
Provision (Increase)/Reversal	0.2	-3.0	-11.8	5.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	-0.1	-0.2	-0.1	0.9	0.0
Gain/Loss from Investment Activities	-37.4	-28.9	-35.9	-18.5	0.0
Interest Expense	6.5	2.4	4.2	2.9	0.0
Gain/Loss on Disposal of Fixed Assets	—	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	0.0	0.0	0.0	0.0
Other Adjustments	15.0	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	311.2	343.1	306.6	564.5	311.6
Increase/(Decrease) in Receivables	-103.0	-50.1	52.1	-46.9	0.0
Increase/(Decrease) in Inventory	-144.1	28.1	23.1	-49.1	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	90.6	-4.0	9.2	-86.2	0.0
Increase/(Decrease) in Prepaid Expenses	9.4	9.8	13.3	10.8	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-6.4	-2.3	-4.3	-2.9	0.0
Corporate Income Tax Paid	-58.8	-73.8	-38.5	-109.0	0.0
Other Operating Receipts	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-34.1	-19.3	-33.5	-33.3	0.0
Net Cash Flow from Operating Activities	64.8	231.4	328.0	248.0	142.5
Payments for Fixed Assets and Other Long-term Assets	-59.3	-22.4	-17.9	-27.3	-57.6
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.4	1.5	0.0	0.5	0.0
Loans and Purchases of Debt Instruments	-667.0	-525.0	-735.0	-330.0	-105.0
Receipts from Loan Repayments and Sale of Debt Instruments	645.0	460.0	530.0	120.0	180.0
Investments in Other Entities	—	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	31.2	19.9	34.1	14.4	0.0
Increase/(Decrease) in Term Deposits	—	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	0.0	0.0	0.0	0.0
Other Investing Receipts	—	0.0	0.0	0.0	0.0
Other Investing Payments	—	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	-49.6	-66.1	-188.9	-222.4	23.5
Proceeds from Equity Issuance and Capital Contributions	—	0.00	0.00	0.00	0.00
Share Repurchases	—	0.00	0.00	0.00	0.00
Proceeds from Borrowings	356.8	269.5	309.6	195.2	291.8
Repayment of Borrowings	-321.2	-248.2	-335.1	-138.4	-346.5
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-131.6	-121.1	-197.0	-74.4	-44.3
Other Financing Receipts	—	0.0	0.0	0.0	0.0
Other Financing Payments	—	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	-96.1	-99.8	-222.4	-17.6	-99.0
Net Cash Flow During the Period	-80.9	65.5	-83.3	8.1	46.9
Cash and Cash Equivalents at Beginning of Period	172.6	107.0	190.3	182.2	115.2
FX Difference from Revaluation	-0.0	0.1	0.0	0.0	-0.0
Cash and Cash Equivalents at End of Period	91.7	172.6	107.0	190.3	182.2

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	628.3	644.0	510.1	523.6	482.5	516.1	507.8	480.5	351.3	431.3	407.7	357.8
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	628.3	644.0	510.1	523.6	482.5	516.1	507.8	480.5	351.2	431.3	407.7	357.8
Cost of Goods Sold	502.1	499.0	377.5	380.0	358.9	381.9	365.6	345.3	255.2	328.0	315.0	263.4
Gross Profit	126.2	145.1	132.5	143.6	123.5	134.2	142.2	135.2	96.1	103.3	92.7	94.4
Financial Income	9.2	9.5	11.0	12.6	9.6	9.0	7.5	6.8	6.7	9.0	10.1	13.4
Financial Expenses	3.3	2.5	2.1	1.3	1.4	1.0	0.9	0.4	0.6	0.7	0.9	1.5
Interest Expense	2.5	2.3	2.1	1.1	1.0	0.9	0.6	0.3	0.6	0.7	0.8	1.2
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	55.2	54.6	42.5	38.9	34.7	32.8	31.3	26.0	21.5	22.0	21.6	19.7
General and Administrative Expenses	20.0	41.9	22.2	25.6	26.9	36.8	19.3	19.0	18.3	22.7	16.4	19.9
Operating Profit	56.9	55.6	76.8	90.4	70.1	72.6	98.2	96.6	62.5	66.9	64.0	66.7
Other Income	0.0	0.2	0.5	0.0	0.4	0.6	0.7	0.1	0.1	0.1	0.1	4.1
Other Expenses	0.0	0.1	1.8	0.0	0.0	0.0	0.1	0.1	0.3	0.0	0.0	0.1
Other Profit	-0.0	0.2	-1.3	-0.0	0.4	0.6	0.6	0.0	-0.2	0.1	0.0	4.0
Profit Before Tax	56.9	55.8	75.5	90.3	70.5	73.2	98.9	96.6	62.3	67.0	64.0	70.7
Current Income Tax Expense	10.8	12.3	14.2	16.3	14.6	20.6	19.2	18.0	10.5	15.0	13.8	14.6
Deferred Income Tax Expense	1.0	2.5	1.2	2.3	-0.1	-2.5	1.0	2.0	2.0	-1.1	-0.9	-1.0
Net Income	45.1	41.0	60.1	71.7	56.0	55.1	78.7	76.7	49.7	53.1	51.1	57.1
Non-controlling Interest	2.3	5.3	2.3	9.2	3.6	3.0	5.9	7.7	3.0	4.9	2.9	5.5
Profit Attributable to Parent	42.9	35.7	57.8	62.5	52.4	52.1	72.8	68.9	46.7	48.2	48.2	51.5
Earnings per Share	388.00	323.00	523.00	566.00	474.00	472.00	942.00	1,559.00	1,056.00	1,091.00	1,091.00	905.00
Diluted EPS	388.11	323.05	522.63	566.06	474.11	471.58	659.27	1,559.39	1,055.70	1,090.62	1,091.12	1,166.01

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	1,734.1	1,677.3	1,730.0	1,680.4	1,456.3	1,463.0	1,450.8	1,414.0	1,270.7	1,303.4	1,224.7	1,242.4
I. Cash and cash equivalents	50.0	91.7	104.7	131.0	105.7	172.6	165.0	128.0	72.2	107.0	119.9	150.1
1. Cash	50.0	91.7	72.7	79.0	49.7	84.6	66.0	67.0	60.2	67.0	59.9	50.1
2. Cash equivalents	—	—	32.0	52.0	56.0	88.0	99.0	61.0	12.0	40.0	60.0	100.0
II. Short-term financial investments	630.0	627.0	702.0	732.0	677.0	605.0	595.0	565.0	555.0	540.0	465.0	440.0
1. Available for sale securities	630.0	627.0	702.0	732.0	677.0	605.0	595.0	0.0	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Held to maturity investments	—	—	—	—	—	0.0	0.0	565.0	555.0	540.0	465.0	440.0
III. Short-term receivables	522.6	426.4	372.4	280.1	315.2	299.5	322.9	302.6	189.6	236.1	237.3	203.7
1. Short-term trade accounts receivable	484.2	374.2	337.7	249.9	288.2	266.5	297.4	275.0	178.3	222.0	213.5	186.4
2. Short-term prepayments to suppliers	23.6	29.1	15.1	14.6	11.1	14.0	7.8	20.4	4.2	4.4	12.5	9.2
3. Short-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Short-term loan receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other short-term receivables	18.1	26.3	22.7	18.7	18.9	22.0	20.7	10.1	9.9	12.5	13.9	10.7
7. Provision for short-term doubtful debts (*)	-3.2	-3.2	-3.1	-3.1	-3.0	-3.0	-2.9	-2.8	-2.9	-2.9	-2.6	-2.6
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	475.0	483.5	493.3	478.0	302.3	336.4	308.5	364.9	395.5	365.4	344.3	392.1
1. Inventories	475.0	483.5	493.3	478.0	302.3	336.4	308.7	365.1	398.7	368.5	345.6	392.1
2. Provision for decline in value of inventories	—	—	—	—	—	0.0	-0.2	-0.2	-3.2	-3.2	-1.3	0.0
V. Other short-term assets	56.5	48.8	57.7	59.3	56.1	49.5	59.4	53.4	58.4	54.9	58.2	56.5
1. Short-term prepayments	3.8	1.3	5.4	7.9	7.9	1.9	13.1	4.3	5.1	1.9	3.6	5.2
2. Value added tax to be reclaimed	47.0	45.6	48.7	49.0	44.5	44.5	44.0	46.1	50.4	49.7	52.4	49.6
3. Taxes and other receivables from state authorities	5.7	1.9	3.6	2.4	3.6	3.1	2.4	2.9	2.9	3.3	2.2	1.8
4. Government bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Other short-term assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	384.9	380.1	407.6	380.0	383.6	395.2	387.0	392.9	403.1	418.4	434.5	441.5
I. Long-term receivables	0.6	0.5	0.4	0.4	0.4	0.7	0.6	0.5	0.5	0.6	1.2	1.2
1. Long-term trade receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	0.6	0.5	0.4	0.4	0.4	0.7	0.6	0.5	0.5	0.6	1.2	1.2
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	41.3	46.4	55.3	48.2	52.9	62.7	52.3	56.1	67.0	78.4	93.3	97.9
1. Tangible fixed assets	39.5	44.6	53.6	46.4	51.2	60.9	50.6	54.4	65.3	76.7	91.5	96.0
- Cost	1,137.4	—	—	—	—	1,126.0	1,111.7	1,104.4	1,105.6	1,105.6	1,104.6	1,093.8
- Accumulated depreciation	-1,097.9	—	—	—	—	-1,065.1	-1,061.1	-1,050.0	-1,040.3	-1,028.9	-1,013.1	-997.8
2. Financial leased fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	1.8	1.8	1.8	1.8	1.8	1.8	1.8	1.8	1.8	1.8	1.8	1.9
- Cost	6.4	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-4.6	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	32.7	18.5	32.1	10.5	4.2	3.1	5.4	5.6	0.4	1.4	0.4	0.7
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	32.7	18.5	32.1	10.5	4.2	3.1	5.4	5.6	0.4	1.4	0.4	0.7
V. Long-term financial investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Investments in other entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Held to maturity investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VI. Other long-term assets	310.3	314.8	319.8	320.9	326.1	328.7	328.7	330.6	335.0	338.0	339.6	341.7
1. Long-term prepayments	303.9	307.4	310.6	310.6	313.5	316.2	318.7	321.8	324.2	325.1	327.8	330.9
2. Deferred income tax assets	6.4	7.4	9.1	10.4	12.6	12.5	10.0	8.9	10.8	12.9	11.8	10.8
3. Long-term equipment, supplies, spare parts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other long-term assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Goodwill	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	2,119.0	2,057.5	2,137.6	2,060.4	1,839.9	1,858.2	1,837.8	1,806.9	1,673.8	1,721.8	1,659.2	1,683.9
A. LIABILITIES (300=210+330)	452.2	436.3	536.5	519.4	249.0	304.5	318.1	253.4	187.8	285.5	235.0	221.9
I. Short -term liabilities	437.2	420.6	536.5	519.4	249.0	304.5	318.1	253.4	187.8	285.5	235.0	221.9
1. Short-term trade accounts payable	96.1	100.5	37.4	113.8	41.6	22.9	36.4	38.7	52.7	32.1	48.2	22.7
2. Short-term advances from customers	7.8	2.3	3.2	1.2	2.0	1.2	0.9	1.7	0.8	0.3	0.4	0.7
3. Dividends and profits payable	0.1	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	12.9	35.4	36.4	51.8	19.9	42.5	33.2	48.6	14.0	56.1	36.5	22.3
4. Payable to employees	22.4	55.3	46.0	28.4	15.7	37.4	38.8	18.3	11.7	36.6	30.1	20.0
5. Short-term acrrued expenses	21.6	26.6	24.3	20.4	20.9	32.3	19.3	19.9	18.2	13.2	16.1	12.5
6. Short-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	22.9	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Other short-term payables	206.3	2.5	114.4	112.3	5.0	1.7	67.8	1.7	1.5	7.6	2.4	2.4
10. Short-term borrowings and financial leases	15.7	157.8	195.6	123.1	95.6	122.2	76.8	74.2	45.9	100.9	56.0	92.8
11. Provision for short-term liabilities	31.5	—	57.3	42.3	21.1	0.0	20.7	20.7	10.8	0.0	17.2	13.9
12.. Bonus and welfare fund	—	40.2	21.8	26.1	27.2	44.2	24.4	29.7	32.3	38.7	28.2	34.5
13. Price stabilization fund	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Government bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Long-term liabilities	15.0	15.8	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Long-term trade payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Other long-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Convertible bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	0.8	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	15.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Fund for technology development	—	15.0	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	1,666.8	1,621.1	1,601.1	1,540.9	1,591.0	1,553.8	1,519.6	1,553.5	1,485.9	1,436.3	1,424.2	1,462.0
I. Owner's equity	1,666.8	1,621.1	1,601.1	1,540.9	1,591.0	1,553.8	1,519.6	1,553.5	1,485.9	1,436.3	1,424.2	1,462.0
1. Owner's capital	1,105.0	1,105.0	1,105.0	1,105.0	1,105.0	1,105.0	1,105.0	442.0	442.0	442.0	442.0	442.0
- Common stock with voting right	1,104,999,100,000.00	1,104,999,100,000.00	1,104,999,100,000.00	1,104,999,100,000.00	1,104,999,100,000.00	1,104,999,100,000.00	1,104,999,100,000.00	442,000,000,000.00	442,000,000,000.00	442,000,000,000.00	442,000,000,000.00	442,000,000,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	23.0	23.0	23.0	23.0	23.0	23.0	23.0	23.0	23.0	23.0	23.0	23.0
5. Treasury shares	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
6. Assets revaluation differences	-25.4	-25.4	-25.4	-25.4	-25.4	-25.4	-25.4	-25.4	-25.4	-25.4	-25.4	-25.4
7. Foreign exchange differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	142.4	142.4	142.4	142.4	78.9	78.9	78.9	729.9	645.9	645.9	645.9	645.9
9. Fund to support corporate restructuring	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	—	—	—	—	—	0.0	0.0	11.9	11.9	11.9	11.9	11.9
11. Undistributed earnings after tax	363.6	320.3	305.5	247.6	359.8	312.7	281.6	321.4	339.0	292.4	279.9	299.5
- Accumulated retained earning at the end of the previous period	320.7	132.7	132.7	132.7	307.4	95.3	95.3	205.8	292.4	108.2	118.9	185.2
- Undistributed earnings in this period	42.9	187.6	172.8	114.9	52.4	217.4	186.3	115.6	46.7	184.2	161.0	114.2
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	58.2	55.9	50.7	48.4	49.7	59.6	56.6	50.7	49.5	46.5	46.9	65.2
14. Financial reserves	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Other resources and funds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	2,119.0	2,057.5	2,137.6	2,060.4	1,839.9	1,858.2	1,837.8	1,806.9	1,673.8	1,721.8	1,659.2	1,683.9

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Profit Before Tax	56.9	56.6	75.5	90.5	70.5	73.2	98.9	93.9	62.3	66.9	64.0	68.8
Depreciation of Fixed Assets and Investment Property	5.1	6.1	6.6	9.7	11.6	10.9	11.1	11.2	11.4	15.8	15.4	15.1
Provision (Increase)/Reversal	15.7	-57.1	15.0	21.2	21.1	-20.8	0.0	6.9	10.8	-15.1	2.9	4.6
FX Gain/Loss from Revaluation of Monetary Items	-0.0	-0.1	0.0	-0.0	-0.0	-0.3	0.1	-0.1	0.0	-0.1	0.2	-0.1
Gain/Loss from Investment Activities	-8.2	-9.5	-9.9	-9.9	-8.1	-8.5	-7.6	-6.4	-6.4	-8.0	-9.1	-11.7
Interest Expense	2.5	2.3	2.1	1.1	1.0	0.9	0.6	0.3	0.6	0.7	0.8	1.2
Gain/Loss on Disposal of Fixed Assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Adjustments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	72.0	13.2	89.3	112.5	96.1	55.4	103.1	105.9	78.7	60.1	74.3	78.0
Increase/(Decrease) in Receivables	-112.2	-35.5	-80.2	38.6	-26.0	24.2	-10.6	-108.3	44.3	-0.2	-33.5	27.4
Increase/(Decrease) in Inventory	9.7	8.5	-6.4	-184.5	38.4	-27.7	56.4	33.6	-30.0	-23.1	46.5	-15.9
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-15.3	99.3	-101.7	105.9	-13.0	1.2	-4.4	25.9	-25.7	1.5	39.2	-36.3
Increase/(Decrease) in Prepaid Expenses	0.8	7.3	2.3	3.1	-3.3	13.8	-5.8	4.1	-2.3	4.4	4.7	4.2
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-2.5	-2.3	-2.0	-1.1	-1.0	-0.8	-0.6	-0.3	-0.6	-0.7	-0.9	-1.2
Corporate Income Tax Paid	-35.9	-10.0	-12.0	0.0	-36.8	-15.0	-17.8	-0.0	-41.0	-12.0	0.0	-12.7
Other Operating Receipts	—	—	—	—	—	-0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-8.8	-2.5	-4.3	-1.8	-25.5	-1.2	-5.2	-6.4	-6.4	-22.2	-6.4	-2.8
Net Cash Flow from Operating Activities	-92.2	78.2	-115.1	72.8	28.9	49.8	115.1	54.4	17.0	7.9	124.0	40.6
Payments for Fixed Assets and Other Long-term Assets	-11.1	-23.5	-18.9	-18.5	1.7	-17.9	-6.9	-2.5	0.0	-1.9	-10.6	-4.4
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.4	—	—	—	0.6	-0.1	0.9	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	-260.0	-80.0	-35.0	-265.0	-287.0	-20.0	-55.0	-210.0	-240.0	-315.0	-120.0	-90.0
Receipts from Loan Repayments and Sale of Debt Instruments	257.0	155.0	65.0	210.0	215.0	10.0	10.0	215.0	225.0	240.0	95.0	65.0
Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	16.1	5.3	4.9	28.9	-8.0	5.9	0.5	-4.8	18.2	11.4	5.8	9.7
Increase/(Decrease) in Term Deposits	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	2.0	57.2	16.0	-44.6	-78.3	-21.4	-51.5	-1.3	3.2	-65.5	-29.7	-19.7
Proceeds from Equity Issuance and Capital Contributions	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Share Repurchases	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Proceeds from Borrowings	152.8	94.4	123.2	98.0	41.1	121.8	28.5	73.3	45.9	96.4	42.6	105.5
Repayment of Borrowings	-104.3	15.0	-50.6	-70.5	-67.7	-76.4	-25.9	-45.0	-100.9	-51.4	-79.4	-93.6
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	—	-110.5	0.0	-30.3	9.1	-66.4	-44.2	-10.6	0.0	-0.2	-87.5	-44.0
Other Financing Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Financing Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	48.5	-148.3	72.6	-2.8	-17.5	-20.9	-41.6	17.7	-55.0	44.7	-124.3	-32.0
Net Cash Flow During the Period	-41.7	-13.0	-26.4	25.4	-66.9	7.5	22.0	70.8	-34.8	-12.8	-30.1	-11.1
Cash and Cash Equivalents at Beginning of Period	91.7	104.7	131.0	105.7	172.6	107.0	107.0	107.0	107.0	190.3	190.3	190.3
FX Difference from Revaluation	-0.0	-0.0	0.0	-0.1	0.0	0.1	-0.1	0.0	0.0	0.0	-0.1	0.1
Cash and Cash Equivalents at End of Period	50.0	91.7	104.7	131.0	105.7	172.6	165.0	143.0	72.2	107.0	119.9	150.1

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CSV

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