DNW

Cấp nước Đồng Nai ·UPCOM ·2026Q1

▼▼ Declining sharply

Margins remain under pressure Net margin 21.57%, −5.99pp YoY

Price

32,500

Latest close

03 Jun 2026

P/E 14.32x

P/B 1.52x

EPS 2,269

BVPS 21,409

ROE 10.8%

ROA 7.9%

Profit Margin 20.5%

Asset Turnover 0.39x

Equity Mult. 1.35x

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

What Is Changing

On a TTM 2026Q1 basis, DNW is retaining some revenue, but margins are collapsing sharply — margins have been compressing consistently over multiple periods. Costs or the profit mix are deteriorating faster than revenue is declining — this is the factor to watch ahead of everything else.

	                            
	                                TTM REVENUE
	                            
	                                    VND 1,326bn
	                                
+3.1%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 286bn
	                                
−19.3%YoY

Metric	2025	2024	2023	2022	2021
Revenue	1,309.2	1,283.0	1,196.2	1,216.6	1,155.8
Growth	+2%	+7%	-2%	+5%	—
Net Income	287.0	346.0	332.0	378.5	404.3
Net Margin	21.92%	26.96%	27.75%	31.11%	34.98%

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	330.3	320.7	333.3	342.0	313.5	319.9	316.4	336.6	310.2	301.9	293.6	315.0
Growth	+3%	-4%	-3%	+9%	-2%	+1%	-6%	+9%	+3%	+3%	-7%	—
Net Income	83.3	78.9	85.3	38.5	85.2	72.6	70.0	126.7	76.7	63.9	81.4	114.4
Net Margin	25.23%	24.61%	25.59%	11.27%	27.19%	22.70%	22.12%	37.66%	24.74%	21.16%	27.73%	36.32%

Drivers of DNW's profit

TTM

Net profit attributable to parent increased vs last year, mainly helped by lower minority interests. Supporting and offsetting drivers:

Minority interests ↓ 76.0bn

Tax ↓ 6.8bn

Other profit ↑ 5.4bn

Financial income ↓ 48.0bn

Finance costs ↑ 14.0bn

Selling expenses ↑ 7.2bn

TTM

Net profit attributable to parent increased vs prior quarter, mainly helped by lower minority interests. Supporting and offsetting drivers:

Minority interests ↓ 78.1bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 14.7% = 27.6% × 0.37 × 1.43

2026Q1 11.3% = 21.6% × 0.39 × 1.35

ROE fell from 14.7% to 11.3% — leverage weakened the most, though asset turnover still provided support.

Net margin: 21.6% -6.0pp Asset turnover: 0.39x +0.01x Leverage: 1.35x -0.08x

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 21.57%, losing 6.0pp. The main pressure comes from Gross margin fell 1.7pp and SG&A / Revenue rose 0.6pp (in addition, Other profit / Revenue rose 0.4pp added support while Net financial result / Revenue fell 4.8pp remained a drag).

The pressure comes from non-core items while core operations hold their rhythm — margin has a basis to recover once this factor passes.

Profitability trend

Net Margin 21.57% −6.0pp

Gross Margin 36.83% −1.7pp

SG&A / Revenue 12.12% +0.6pp

TTM YoY · 2025Q1 -> 2026Q1

Is capital being used efficiently?

Capital efficiency for utilities should be read alongside regulated tariffs and long-cycle depreciation — ROIC of 8.9% reflects a large fixed-asset base.

Is capital being deployed efficiently?

ROIC fell to 8.86%, losing 2.1pp. That translates to 8.86 in after-tax operating profit for every 100 units of operating capital. The main pressure came from NOPAT margin narrowed 6.4pp, outweighing the movement in capital turnover; with invested capital holding roughly steady.

For utilities, ROIC reflects returns on a large fixed-asset base — this is a reference signal and should be read alongside regulated tariffs.

CAPITAL EFFICIENCY TREND

ROIC 8.86% −2.1pp

NOPAT Margin 21.10% −6.4pp

Capital Turnover 0.42x +0.02x

Average Invested Capital 3,159.8bn −51.0bn

Balance Sheet

ROIC for utilities reflects a large fixed-asset base and regulated tariffs — the balance sheet below adds perspective. Capital structure is conservative with low leverage — liabilities at 0.39x equity, net debt at 0.21x equity.

Over the last 12 months, working capital released 33.0bn of cash, mainly thanks to lower receivables and higher payables. Pressure from higher inventories only partly offset that benefit.

Working Capital Drivers

Receivables decreased → higher CFO: +4.2bn

Inventories increased → lower CFO: −5.5bn

Payables increased → higher CFO: +34.3bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 3.2 days versus the same period last year. The main moves came from DIO rose 0.7 days, DSO fell 0.9 days, and DPO rose 3.0 days.

Extended payment timing is the main driver — consider whether this trades off supplier relationships.

For utilities, working capital cycle reflects regulated pricing mechanics and long-term settlement contracts — DSO/DIO/DPO should be treated as contextual signals rather than pure efficiency indicators.

Watchpoints

Inventory turnover is slowing

DIO increased by +0.7 days, suggesting more capital is being tied up in inventories.

Working Capital Efficiency

Receivables 11.4 days −0.9 days

Inventory 21.4 days +0.7 days

Payables 24.6 days +3.0 days

Cash Conversion Cycle 8.2 days −3.2 days

Is financial risk significant?

Financial risk is low — leverage is safe, both CFO and FCF are positive.

Leverage & Liquidity

Leverage looks fairly comfortable, with net debt / equity at 0.21x and interest coverage at 6.14x.

At present, short-term debt accounts for 25.6% of total debt, cash equals 14.9% of debt, and total debt stands at 648.6bn.

Leverage for utilities reflects long-term capital needs for fixed assets and recovery through regulated pricing — elevated leverage is structural to the industry.

Watchpoints

Cash buffer is thin relative to debt

Cash / debt stands at 14.9%, leaving limited liquidity buffer to monitor.

Leverage and liquidity trend

Net Debt / Equity 0.21x −0.07x

Interest Coverage 6.14x −4.49x

Cash / Debt 14.9% +9.1pp

Short-term Debt / Total Debt 25.6% −1.6pp

CFO / NI 2.11x +0.27x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 548.5bn in 2025, against investing cash flow of -154.0bn.

Post-investment cash flow was positive +394.5bn. Financing cash flow was negative +349.9bn.

CFO / net income was 2.11x.

After spending +270.3bn on fixed-asset investment, the business generated trailing free cash flow of +305.3bn.

For utilities, high capex and long investment cycles are structural — short-term FCF volatility does not reflect long-term cash generation through regulated pricing.

Cash Conversion

CFO TTM 575.6bn +86.7bn

Cash Capex 270.3bn +144.6bn

FCF TTM +305.3bn −57.9bn

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 2.11x. The next item to monitor is capital efficiency, with ROIC at 8.9%. The main risk still sits in core profitability, with net margin down 6.0 pp.

Improvement: earnings conversion looks more confirmed, with CFO / net income at 2.11x.

Watchpoint: Capital efficiency needs cycle context.

Key risk: profitability remains under pressure, with trailing-12M net margin at 21.57% after a 6.0pp decline versus the same period last year.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	1,309.2	1,283.0	1,196.2	1,216.6	1,155.8
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	1,309.2	1,283.0	1,196.2	1,216.6	1,155.8
Cost of Goods Sold	823.3	790.5	748.3	776.5	0.0
Gross Profit	485.9	492.5	447.8	440.1	454.2
Financial Income	30.7	76.5	65.5	137.0	144.6
Financial Expenses	51.8	35.9	33.8	38.3	-44.5
Interest Expense	27.2	29.5	28.4	37.5	-44.5
Share of Associates and Joint Ventures	2.8	2.9	2.7	-5.6	-5.0
Selling Expenses	75.5	70.8	65.1	68.3	-66.0
General and Administrative Expenses	77.9	80.8	68.6	66.6	-62.3
Operating Profit	314.1	384.3	348.7	398.4	421.0
Other Income	11.6	8.4	8.0	7.5	0.0
Other Expenses	4.7	6.7	4.2	4.2	0.0
Other Profit	6.9	1.8	3.8	3.3	7.5
Profit Before Tax	321.1	386.1	352.4	401.7	428.5
Current Income Tax Expense	34.0	40.1	20.5	23.2	-24.2
Deferred Income Tax Expense	—	0.0	0.0	0.0	0.0
Net Income	287.0	346.0	332.0	378.5	404.3
Non-controlling Interest	—	11.9	10.8	12.5	15.1
Profit Attributable to Parent	287.0	334.1	321.2	366.0	389.1
Earnings per Share	2,007.00	2,506.00	2,409.00	2,745.00	1,638.00
Diluted EPS	2,007.00	2,506.00	2,409.00	2,745.00	3,242.78

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	823.0	817.4	688.3	641.2	709.6
I. Cash and cash equivalents	86.4	41.8	52.2	56.3	254.2
1. Cash	56.4	41.8	49.2	48.3	0.0
2. Cash equivalents	30.0	0.0	3.0	8.0	0.0
II. Short-term financial investments	617.0	664.2	525.0	474.4	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	617.0	664.2	525.0	474.4	0.0
III. Short-term receivables	69.9	65.1	62.2	61.7	83.7
1. Short-term trade accounts receivable	43.1	42.2	47.2	46.0	0.0
2. Short-term prepayments to suppliers	10.9	4.8	5.0	4.4	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	21.9	24.0	12.5	14.8	0.0
7. Provision for short-term doubtful debts (*)	-6.0	-5.9	-2.5	-3.5	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	48.7	44.6	41.8	45.0	51.1
1. Inventories	49.0	44.8	41.8	45.0	0.0
2. Provision for decline in value of inventories	-0.3	-0.3	0.0	0.0	0.0
V. Other short-term assets	1.0	1.7	7.2	3.7	4.0
1. Short-term prepayments	0.3	0.4	0.3	0.2	0.0
2. Value added tax to be reclaimed	0.7	1.2	6.9	3.3	0.0
3. Taxes and other receivables from state authorities	—	0.2	0.0	0.2	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)	2,619.1	2,706.0	2,841.5	2,894.4	3,060.4
I. Long-term receivables	—	0.0	0.0	0.0	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	0.0
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	—	0.0	0.0	0.0	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	2,379.9	2,457.8	2,631.6	2,688.0	2,846.1
1. Tangible fixed assets	2,092.2	2,162.5	2,347.2	2,396.3	2,546.8
- Cost	5,731.6	5,504.2	5,387.6	5,149.1	0.0
- Accumulated depreciation	-3,639.4	-3,341.8	-3,040.4	-2,752.9	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	287.7	295.3	284.4	291.7	299.2
- Cost	375.6	375.5	356.7	356.5	0.0
- Accumulated depreciation	-87.9	-80.1	-72.3	-64.8	0.0
III. Investment properties	—	0.0	0.0	0.8	0.9
- Cost	—	0.0	0.0	1.3	0.0
- Accumulated depreciation	—	0.0	0.0	-0.4	0.0
IV. Long-term assets in progress	153.5	168.4	149.2	150.3	155.1
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	153.5	168.4	149.2	150.3	0.0
V. Long-term financial investments	55.8	54.8	55.0	49.8	50.4
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	20.0	19.7	18.4	46.8	0.0
3. Investments in other entities	56.7	54.2	53.1	3.1	0.0
4. Provision for diminution in value of long-term investments	-20.8	-19.0	-16.5	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	29.9	24.9	5.7	5.5	0.0
1. Long-term prepayments	29.9	24.9	5.7	5.5	0.0
2. Deferred income tax assets	—	0.0	0.0	0.0	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	8.0
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)	3,442.2	3,523.4	3,529.8	3,535.6	3,770.1
A. LIABILITIES (300=210+330)	957.7	1,077.6	1,238.3	1,336.5	1,725.7
I. Short -term liabilities	423.0	472.9	486.4	456.3	598.8
1. Short-term trade accounts payable	57.5	60.6	98.9	65.6	57.3
2. Short-term advances from customers	6.7	6.0	6.4	12.2	12.5
3. Taxes and other payables to state authorities	13.4	15.1	9.7	11.7	0.0
4. Payable to employees	86.3	73.4	65.3	43.8	0.0
5. Short-term acrrued expenses	9.0	9.1	12.9	14.1	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	13.0	17.4	13.7	12.0	0.0
10. Short-term borrowings and financial leases	169.2	223.2	222.1	249.8	391.8
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	67.8	68.0	57.5	47.2	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	534.8	604.7	751.9	880.3	1,126.9
1. Long-term trade payables	—	0.0	0.0	0.0	0.0
2. Long-term advances from customers	6.1	6.6	6.7	6.7	6.7
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	—	1.4	1.3	1.9	0.0
8. Long-term borrowings and financial leases	528.7	596.7	743.9	871.7	1,117.3
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	—	0.0	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	—	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)	2,484.4	2,445.8	2,291.5	2,199.0	2,044.4
I. Owner's equity	2,484.4	2,445.8	2,291.5	2,199.0	0.0
1. Owner's capital	1,200.0	1,200.0	1,200.0	1,200.0	2,044.4
- Common stock with voting right	1,200,000,000,000.00	1,200,000,000,000.00	1,200,000,000,000.00	1,200,000,000,000.00	1,200,000,000,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	118.5	118.5	118.5	118.5	118.5
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	26.2	26.2	26.2	26.2	26.2
5. Treasury shares	—	0.00	0.00	0.00	0.00
6. Assets revaluation differences	-64.2	-64.2	-64.2	-64.2	0.0
7. Foreign exchange differences	—	0.0	0.0	0.0	0.0
8. Investment and development fund	386.9	297.4	206.8	162.8	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	0.0	0.0	0.0
11. Undistributed earnings after tax	697.4	746.4	686.2	640.8	531.5
- Accumulated retained earning at the end of the previous period	427.6	413.7	414.3	312.2	145.0
- Undistributed earnings in this period	269.8	332.7	271.9	328.6	386.5
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	119.6	121.4	118.0	115.0	111.2
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)	3,442.2	3,523.4	3,529.8	3,535.6	3,770.1

Item	2025	2024	2023	2022	2021
Profit Before Tax	321.1	386.1	352.4	401.7	428.5
Depreciation of Fixed Assets and Investment Property	305.5	310.3	296.6	321.0	289.0
Provision (Increase)/Reversal	1.8	6.3	2.6	-0.8	0.0
FX Gain/Loss from Revaluation of Monetary Items	21.3	-47.6	-28.1	-109.6	0.0
Gain/Loss from Investment Activities	-32.4	-28.6	-39.4	-20.2	0.0
Interest Expense	27.2	29.5	28.4	37.5	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	—	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	644.5	655.9	612.5	629.6	625.7
Increase/(Decrease) in Receivables	2.2	-0.5	13.3	18.1	0.0
Increase/(Decrease) in Inventory	-4.1	-3.1	3.3	6.1	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	21.3	-28.9	51.7	-22.1	0.0
Increase/(Decrease) in Prepaid Expenses	-4.9	-19.4	-0.2	2.6	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-28.4	-30.9	-29.8	-39.5	0.0
Corporate Income Tax Paid	-39.9	-36.3	-22.5	-24.3	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-42.2	-29.9	-27.2	-18.6	0.0
Net Cash Flow from Operating Activities	548.5	506.9	601.0	552.0	548.0
Payments for Fixed Assets and Other Long-term Assets	-230.4	-151.4	-256.5	-143.9	-94.9
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.2	-0.1	0.0	0.0
Loans and Purchases of Debt Instruments	-737.5	-959.7	-554.0	-608.0	-265.9
Receipts from Loan Repayments and Sale of Debt Instruments	784.7	820.5	503.6	450.5	19.5
Investments in Other Entities	-2.5	-1.1	0.0	-6.2	-18.8
Proceeds from Investments in Other Entities	—	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	31.7	24.0	41.1	22.2	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	-154.0	-267.6	-265.9	-285.4	-335.7
Proceeds from Equity Issuance and Capital Contributions	—	0.00	0.00	0.00	300,000,000,000.00
Share Repurchases	—	0.00	0.00	0.00	0.00
Proceeds from Borrowings	90.1	122.4	164.8	324.3	427.0
Repayment of Borrowings	-233.5	-220.8	-293.6	-601.3	-658.8
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-206.5	-151.4	-210.3	-187.5	-135.6
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	-349.9	-249.8	-339.2	-464.5	-67.4
Net Cash Flow During the Period	44.6	-10.4	-4.1	-197.9	-14.6
Cash and Cash Equivalents at Beginning of Period	41.8	52.2	56.3	254.2	109.3
FX Difference from Revaluation	—	0.0	0.0	0.0	-0.0
Cash and Cash Equivalents at End of Period	86.4	41.8	52.2	56.3	254.2

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	330.3	320.7	333.3	342.0	313.5	319.9	316.4	336.6	310.2	301.9	293.6	315.0
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	330.3	320.7	333.3	342.0	313.5	319.9	316.4	336.6	310.2	301.9	293.6	315.0
Cost of Goods Sold	202.8	218.5	205.4	211.2	187.3	201.3	196.2	206.1	186.9	199.3	175.6	202.9
Gross Profit	127.5	102.2	128.0	130.9	126.3	118.6	120.2	130.4	123.2	102.6	117.9	112.2
Financial Income	8.5	7.9	8.1	8.2	6.5	14.5	1.2	58.6	2.3	11.1	2.6	49.7
Financial Expenses	7.1	-17.7	6.8	54.8	7.8	8.3	10.8	10.1	6.7	7.9	7.1	10.6
Interest Expense	1.1	7.3	6.7	6.6	6.5	7.8	7.0	8.0	6.6	7.5	6.3	7.4
Share of Associates and Joint Ventures	1.1	0.7	0.7	1.2	—	0.9	0.9	0.9	0.3	0.9	0.7	5.0
Selling Expenses	17.9	18.6	20.1	22.4	14.6	20.5	16.7	20.0	13.7	18.1	13.6	19.5
General and Administrative Expenses	19.6	22.0	19.5	20.6	15.8	23.5	16.6	20.3	20.4	20.9	15.6	17.0
Operating Profit	92.5	88.0	90.3	42.5	94.5	81.6	78.2	139.5	85.0	67.7	84.9	119.7
Other Income	2.0	1.8	6.1	1.8	1.9	1.8	1.8	3.2	1.7	1.8	2.7	2.3
Other Expenses	1.3	1.3	1.1	1.0	1.4	2.4	2.4	0.9	1.0	1.6	1.0	0.8
Other Profit	0.7	0.5	5.1	0.8	0.6	-0.6	-0.5	2.2	0.7	0.2	1.7	1.5
Profit Before Tax	93.2	88.4	95.3	43.3	95.1	81.0	77.7	141.8	85.7	67.9	86.6	121.1
Current Income Tax Expense	9.9	9.5	10.0	4.8	9.8	8.4	7.7	15.0	9.0	4.0	5.2	6.7
Deferred Income Tax Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	83.3	78.9	85.3	38.5	85.2	72.6	70.0	126.7	76.7	63.9	81.4	114.4
Non-controlling Interest	3.0	2.4	4.3	4.1	81.2	1.5	2.9	4.3	3.2	2.8	2.8	3.2
Profit Attributable to Parent	80.3	76.6	81.0	34.4	4.1	71.1	67.1	122.5	73.5	61.1	78.6	111.2
Earnings per Share	669.06	638.03	675.11	286.66	33.82	592.25	558.93	1,020.79	552.00	509.20	654.92	1,339.00
Diluted EPS	669.06	638.03	675.11	286.66	33.82	2,506.00	558.93	1,020.79	552.00	509.20	654.92	1,339.00

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)	815.5	823.3	768.5	743.6	788.4	817.4	763.2	846.3	681.0	688.3	659.3	733.5
I. Cash and cash equivalents	96.5	86.4	37.4	61.2	42.8	41.8	32.2	81.5	38.4	52.2	43.9	89.8
1. Cash	51.5	56.4	37.4	61.2	42.8	41.8	32.2	22.5	38.4	49.2	40.9	66.8
2. Cash equivalents	45.0	30.0	—	—	—	0.0	0.0	59.0	0.0	3.0	3.0	23.0
II. Short-term financial investments	582.0	617.0	611.0	552.0	622.2	664.2	613.2	642.7	532.0	525.0	471.0	512.0
1. Available for sale securities	—	—	—	—	—	0.0	0.0	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	582.0	617.0	611.0	552.0	622.2	664.2	613.2	642.7	532.0	525.0	471.0	512.0
III. Short-term receivables	84.4	70.1	67.9	80.9	76.5	65.1	66.0	76.6	64.9	62.2	97.1	88.0
1. Short-term trade accounts receivable	43.5	43.1	43.6	50.1	39.3	42.2	46.2	52.1	47.2	47.2	46.8	59.2
2. Short-term prepayments to suppliers	18.2	10.9	8.0	15.8	15.4	4.8	9.3	13.2	11.8	5.0	28.7	3.6
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	28.7	22.1	22.4	21.0	27.8	24.0	16.4	17.7	12.4	12.5	24.0	28.7
7. Provision for short-term doubtful debts (*)	-6.0	-6.0	-5.9	-5.9	-5.9	-5.9	-6.0	-6.5	-6.5	-2.5	-2.5	-3.5
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	51.7	48.7	51.7	49.1	46.1	44.6	50.4	43.5	43.6	41.8	44.7	40.8
1. Inventories	51.9	49.0	51.9	49.3	46.4	44.8	50.4	43.5	43.6	41.8	44.7	40.8
2. Provision for decline in value of inventories	-0.3	-0.3	-0.3	-0.3	-0.3	-0.3	0.0	0.0	0.0	0.0	0.0	0.0
V. Other short-term assets	0.9	1.0	0.4	0.3	0.8	1.7	1.4	2.0	2.2	7.2	2.5	3.0
1. Short-term prepayments	0.6	0.3	0.4	0.2	0.3	0.4	0.7	0.5	0.4	0.3	0.4	0.3
2. Value added tax to be reclaimed	0.3	0.7	—	0.1	0.6	1.2	0.6	1.0	1.6	6.9	2.1	2.7
3. Taxes and other receivables from state authorities	—	—	—	—	—	0.2	0.1	0.5	0.1	0.0	0.0	0.0
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)	2,596.2	2,618.7	2,631.0	2,623.4	2,650.7	2,706.1	2,698.1	2,743.8	2,787.7	2,839.7	2,768.9	2,821.8
I. Long-term receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	2,378.1	2,379.9	2,394.3	2,364.9	2,400.1	2,457.8	2,491.1	2,542.2	2,556.9	2,631.3	2,539.5	2,602.6
1. Tangible fixed assets	2,092.4	2,092.2	2,104.7	2,073.3	2,106.7	2,162.5	2,193.8	2,242.8	2,274.3	2,346.9	2,253.3	2,314.6
- Cost	5,806.8	—	—	—	—	5,504.2	5,460.4	5,433.5	5,389.9	5,387.3	5,221.8	5,214.9
- Accumulated depreciation	-3,714.4	—	—	—	—	-3,341.8	-3,266.5	-3,190.7	-3,115.6	-3,040.4	-2,968.5	-2,900.4
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	285.7	287.7	289.6	291.6	293.4	295.3	297.3	299.4	282.6	284.4	286.2	288.1
- Cost	375.6	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-89.9	—	—	—	—	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	0.8	0.8
- 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	132.4	153.5	150.0	179.6	171.1	168.4	128.3	143.5	170.6	149.4	170.8	160.6
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	132.4	153.5	150.0	179.6	171.1	168.4	128.3	143.5	170.6	149.4	170.8	160.6
V. Long-term financial investments	56.8	55.7	53.5	52.7	54.8	54.9	54.5	53.7	54.8	55.0	54.4	53.7
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	20.9	19.8	19.1	18.4	19.7	19.8	18.9	18.0	17.1	18.4	17.5	16.7
3. Investments in other entities	56.7	56.7	54.2	54.2	54.2	54.2	54.2	54.2	54.2	53.1	53.1	53.1
4. Provision for diminution in value of long-term investments	-20.8	-20.8	-19.8	-19.8	-19.0	-19.0	-18.5	-18.5	-16.5	-16.5	-16.1	-16.1
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	28.9	29.7	33.2	26.1	24.8	24.9	24.1	4.4	5.5	4.0	3.4	4.1
1. Long-term prepayments	28.9	29.7	33.2	26.1	24.8	24.9	24.1	4.4	5.5	4.0	3.4	4.1
2. Deferred income tax assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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)	3,411.7	3,442.0	3,399.5	3,366.9	3,439.2	3,523.5	3,461.3	3,590.1	3,468.8	3,528.1	3,428.2	3,555.4
A. LIABILITIES (300=210+330)	842.7	958.0	993.7	1,028.0	943.1	1,077.3	1,086.9	1,133.7	1,136.0	1,237.8	1,152.7	1,199.6
I. Short -term liabilities	354.4	423.2	482.8	444.8	393.8	471.8	495.2	463.9	420.8	480.6	431.8	416.8
1. Short-term trade accounts payable	65.3	57.5	82.4	49.5	47.6	60.6	58.5	57.6	46.1	98.9	40.3	50.9
2. Short-term advances from customers	6.4	6.7	6.0	4.7	4.6	6.0	8.2	9.1	7.0	6.4	9.2	10.7
3. Dividends and profits payable	0.6	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	21.8	13.5	27.6	25.9	20.2	15.1	38.5	24.5	19.2	9.7	31.7	18.2
4. Payable to employees	30.5	86.4	57.7	50.4	23.7	73.4	61.9	48.5	26.1	64.8	51.2	44.2
5. Short-term acrrued expenses	7.7	10.0	10.0	14.4	7.5	9.1	12.8	15.1	10.7	12.9	8.8	16.2
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Other short-term payables	11.8	12.2	15.7	18.5	15.4	17.4	15.3	14.6	15.0	13.7	14.5	13.2
10. Short-term borrowings and financial leases	166.1	169.2	213.9	208.6	202.4	222.4	231.8	218.2	221.6	216.8	218.7	204.9
11. Provision for short-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	44.3	67.8	69.6	73.0	72.5	67.7	68.2	76.3	75.0	57.5	57.4	58.6
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	488.3	534.8	510.9	583.2	549.3	605.5	591.8	669.8	715.2	757.2	720.9	782.8
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	5.9	6.1	6.2	6.4	6.6	6.6	6.6	6.6	6.7	6.7	6.7	6.7
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	—	—	—	—	—	1.4	1.5	1.6	1.3	1.3	0.0	1.9
8. Long-term borrowings and financial leases	482.5	528.7	504.7	576.7	542.7	597.5	583.7	661.6	707.3	749.2	714.2	774.2
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Fund for technology development	—	—	—	—	—	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)	2,569.0	2,484.0	2,405.8	2,338.9	2,496.1	2,446.2	2,374.4	2,456.5	2,332.7	2,290.2	2,275.5	2,355.8
I. Owner's equity	2,569.0	2,484.0	2,405.8	2,338.9	2,496.1	2,446.2	2,374.4	2,456.5	2,332.7	2,290.2	2,275.5	2,355.8
1. Owner's capital	1,200.0	1,200.0	1,200.0	1,200.0	1,200.0	1,200.0	1,200.0	1,200.0	1,200.0	1,200.0	1,200.0	1,200.0
- Common stock with voting right	1,200,000,000,000.00	1,200,000,000,000.00	1,200,000,000,000.00	1,200,000,000,000.00	1,200,000,000,000.00	1,200,000,000,000.00	1,200,000,000,000.00	1,200,000,000,000.00	1,200,000,000,000.00	1,200,000,000,000.00	1,200,000,000,000.00	1,200,000,000,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	118.5	118.5	118.5	118.5	118.5	118.5	118.5	118.5	118.5	118.5	118.5	118.5
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	26.2	26.2	26.2	26.2	26.2	26.2	26.2	26.2	26.2	26.2	26.2	26.2
5. Treasury shares	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
6. Assets revaluation differences	-64.2	-64.2	-64.2	-64.2	-64.2	-64.2	-64.2	-64.2	-64.2	-64.2	-64.2	-64.2
7. Foreign exchange differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	388.8	386.9	386.9	386.9	383.0	297.4	297.4	297.4	293.8	206.8	206.8	206.8
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	0.0	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	776.4	697.0	620.8	542.5	706.0	746.7	676.0	753.4	636.1	684.9	672.4	748.5
- Accumulated retained earning at the end of the previous period	696.7	427.6	427.6	427.6	624.9	413.7	413.7	557.7	562.6	414.3	414.3	570.3
- Undistributed earnings in this period	79.7	269.4	193.2	114.9	81.0	333.0	262.3	195.6	73.5	270.6	258.1	178.2
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	123.3	119.6	117.6	129.0	126.7	121.6	120.4	125.1	122.3	118.0	115.8	119.9
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)	3,411.7	3,442.0	3,399.5	3,366.9	3,439.2	3,523.5	3,461.3	3,590.1	3,468.8	3,528.1	3,428.2	3,555.4

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	93.2	88.8	95.3	41.8	95.1	81.0	77.7	141.8	85.7	69.3	86.6	122.9
Depreciation of Fixed Assets and Investment Property	76.9	77.5	76.9	76.6	74.4	77.2	78.6	77.5	77.0	75.1	71.6	71.5
Provision (Increase)/Reversal	—	1.0	0.0	0.8	—	0.7	-0.5	2.1	4.0	0.4	-1.0	3.3
FX Gain/Loss from Revaluation of Monetary Items	—	-26.0	0.0	47.4	—	-2.0	0.0	-45.6	0.0	4.9	0.0	-33.0
Gain/Loss from Investment Activities	-9.5	-8.8	-7.8	-9.5	-6.4	-13.5	-1.6	-14.0	0.4	-16.4	-3.4	-21.6
Interest Expense	6.4	7.3	6.7	6.6	6.5	7.8	7.0	8.0	6.6	7.5	6.3	7.4
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	167.0	139.9	171.2	163.8	169.6	151.1	161.2	169.8	173.8	140.9	160.1	150.3
Increase/(Decrease) in Receivables	-4.4	1.7	7.5	-0.6	-6.4	1.8	5.6	-7.6	2.9	15.8	9.4	3.7
Increase/(Decrease) in Inventory	-3.0	3.0	-2.6	-2.9	-1.6	5.6	-6.9	0.0	-1.8	3.0	-4.0	2.8
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-49.7	16.3	-12.9	80.7	-62.8	-22.3	32.2	31.8	-93.6	49.7	15.1	10.9
Increase/(Decrease) in Prepaid Expenses	0.7	3.4	-7.3	-1.3	0.3	-0.4	-20.0	1.0	0.1	-2.1	0.6	0.3
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-7.5	-6.2	-8.6	-4.4	-9.2	-5.2	-10.1	-5.2	-10.5	-4.0	-10.2	-4.6
Corporate Income Tax Paid	-2.6	-20.4	-10.0	-1.1	-8.4	-21.5	-1.3	-9.9	-3.6	-14.3	-1.1	-0.6
Other Operating Receipts	0.0	—	—	—	—	0.0	0.0	0.0	0.0	-0.0	0.0	0.0
Other Operating Payments	-22.4	-2.5	-6.0	-3.2	-30.5	-1.2	-9.0	-1.7	-18.0	-1.0	-2.0	-1.8
Net Cash Flow from Operating Activities	78.0	135.1	131.3	231.1	51.0	107.9	151.7	178.3	49.3	187.9	167.8	161.0
Payments for Fixed Assets and Other Long-term Assets	-57.0	-91.7	-16.9	-104.6	-17.2	-61.0	-17.0	-30.5	-22.4	-135.1	-50.1	-45.3
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	—	—	—	—	0.0	0.1	0.1	0.0	-0.1	0.0	12.2
Loans and Purchases of Debt Instruments	-59.0	-271.0	-92.0	-320.7	-53.8	-393.0	-50.0	-463.9	-52.8	-407.0	-40.0	-72.6
Receipts from Loan Repayments and Sale of Debt Instruments	94.0	265.0	33.0	390.7	96.0	342.0	79.5	353.0	46.0	353.0	81.0	18.6
Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	-1.1	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	3.3	-6.4	17.9	19.0	1.2	7.8	10.0	12.4	1.7	22.7	11.4	5.2
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	-18.8	-106.5	-58.0	-15.6	26.2	-104.3	22.6	-128.9	-28.7	-166.5	2.3	-82.0
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	15.6	26.3	34.6	12.9	16.3	25.3	26.6	13.3	57.2	41.1	44.0	28.6
Repayment of Borrowings	-64.9	-21.0	-101.3	-18.7	-92.5	-18.7	-91.7	-19.7	-91.4	-13.0	-90.9	-54.4
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	0.1	15.1	-30.4	-191.2	-0.1	-0.6	-158.5	0.1	-0.2	-41.2	-169.0	-0.1
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	-49.2	20.4	-97.1	-197.1	-76.2	6.0	-223.6	-6.3	-34.4	-13.1	-216.0	-25.8
Net Cash Flow During the Period	10.1	49.0	-23.8	18.5	1.0	9.6	-49.3	43.1	-13.8	8.3	-45.9	53.2
Cash and Cash Equivalents at Beginning of Period	86.4	37.4	61.2	42.8	41.8	52.2	52.2	52.2	52.2	56.3	56.3	56.3
FX Difference from Revaluation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	96.5	86.4	37.4	61.2	42.8	41.8	32.2	81.5	38.4	52.2	43.9	89.8

Explore Other Stocks In The Same Sector

BWE, BWS, DNP, DNN, TDM, VAV, HPW, HWS, PMW, KHW, CTW, LDW, DWC, VLW, NNT, NQN, THN, TDW, CLW, NBT, DWS, HDW, BTW, GDW, QNW, BDW, TOW, BNW, TBW, NBW, NDW, LAW, PWS, PJS, STW, NAW, NS2, CMW, TNW, NTW, BGW, NLS, NVP, GLW, NQB, LKW, THW, DVW, SII, TAW, VPW, NSL, TQW, DKW, BWA

Need support? If you need support with content lookup or want to provide feedback about content on the website, please contact us below.

DNW

What Is Changing

Drivers of DNW's profit

Financial Highlights

Is the profit sustainable?

What is driving the margin? ▼▼

Is capital being used efficiently?

Is capital being deployed efficiently? ▼

Balance Sheet ▲

Working Capital Efficiency ▲

Is financial risk significant?

Leverage & Liquidity ▲

Cash Flow ▼

Investment Takeaway

Statement Data

What is driving the margin?

Is capital being deployed efficiently?

Balance Sheet

Working Capital Efficiency

Leverage & Liquidity

Cash Flow