GDT

Chế biến Gỗ Đức Thành ·HOSE ·2026Q1

▲ Showing improvement

Operating efficiency is improving Net margin 23.08%, +4.13pp YoY

Price

18,300

Latest close

04 Jun 2026

P/E 5.76x

P/B 1.31x

EPS 3,178

BVPS 13,918

ROE 23.1%

ROA 12.6%

Profit Margin 23.1%

Asset Turnover 0.55x

Equity Mult. 1.83x

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

What Is Changing

On a TTM 2026Q1 basis, GDT has not accelerated revenue, but profitability is improving more visibly — profit is at an all-time high. However, operating cash flow is significantly negative relative to profit — this needs monitoring in coming periods.

	                            
	                                TTM REVENUE
	                            
	                                    VND 330bn
	                                
−2.0%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 76bn
	                                
+19.4%YoY

	                            
	                                CFO / Net Income
	                            
	                                    -0.33x
	                                
negative cash flow vs profit

Metric	2025	2024	2023	2022	2021
Revenue	332.8	335.6	311.0	399.8	338.6
Growth	-1%	+8%	-22%	+18%	—
Net Income	73.5	54.9	36.7	69.3	60.8
Net Margin	22.08%	16.36%	11.80%	17.33%	17.95%

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	67.5	112.0	79.7	71.1	70.6	86.7	91.7	88.1	68.7	87.6	69.8	89.4
Growth	-40%	+41%	+12%	+1%	-19%	-5%	+4%	+28%	-22%	+26%	-22%	—
Net Income	17.2	21.7	20.6	16.7	15.8	16.8	15.8	15.5	9.5	13.1	8.2	7.9
Net Margin	25.46%	19.34%	25.89%	23.55%	22.34%	19.38%	17.24%	17.56%	13.86%	14.95%	11.75%	8.81%

Drivers of GDT's profit

TTM

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

Administrative expenses ↓ 26.1bn

Selling expenses ↓ 3.1bn

Gross profit ↓ 8.1bn

Other profit ↓ 3.9bn

Tax ↑ 3.7bn

Finance costs ↑ 1.3bn

TTM

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

Administrative expenses ↓ 5.4bn

Selling expenses ↓ 1.1bn

Gross profit ↓ 2.0bn

Finance costs ↑ 1.6bn

Other profit ↓ 0.9bn

Tax ↑ 0.6bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 21.5% = 18.9% × 0.73 × 1.55

2026Q1 23.1% = 23.1% × 0.55 × 1.83

ROE rose from 21.5% to 23.1% — mainly driven by leverage, despite asset turnover moving in the opposite direction.

Net margin: 23.1% +4.1pp Asset turnover: 0.55x -0.19x Leverage: 1.83x +0.28x

Is the profit sustainable?

Accounting profit is positive but operating cash flow has not caught up — needs more time to confirm.

very positive positive stable watch under pressure

What is driving the margin?

Net margin expanded to 23.08%, rising 4.1pp. Core operating signals are improving as SG&A / Revenue fell 8.4pp are enough to offset pressure from Gross margin fell 1.5pp (with lingering pressure from Other profit / Revenue fell 1.2pp and Net financial result / Revenue fell 0.4pp).

The improvement comes from core operations — this is a high-quality margin expansion.

Profitability trend

Net Margin 23.08% +4.1pp

Gross Margin 42.80% −1.5pp

SG&A / Revenue 11.42% −8.4pp

TTM YoY · 2025Q1 -> 2026Q1

Is capital being used efficiently?

Evaluate capital, asset, and working-capital efficiency.

Is capital being deployed efficiently?

ROIC narrowed to 14.63%, falling 1.0pp. That translates to 14.63 in after-tax operating profit for every 100 units of operating capital. Although NOPAT margin rose 5.0pp, capital turnover fell 0.22x still pulled ROIC lower, while invested capital expanded strongly by 132bn.

Pressure came from turnover — added capital has not been absorbed quickly enough, a typical investment-cycle dynamic.

CAPITAL EFFICIENCY TREND

ROIC 14.63% −1.0pp

NOPAT Margin 23.69% +5.0pp

Capital Turnover 0.62x −0.22x

Average Invested Capital 534.6bn +131.8bn

Balance Sheet

Capital structure is balanced — liabilities at 0.56x equity, net debt at 0.76x equity.

Inventory ended the period at 63.1bn, roughly 11.4% of total assets.

Over the last 12 months, working capital absorbed 119.6bn of cash, mainly because of higher inventories and lower payables. Part of that drag was offset by lower receivables.

Working Capital Drivers

Receivables decreased → higher CFO: +18.9bn

Inventories increased → lower CFO: −2.7bn

Payables decreased → lower CFO: −135.8bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 21.5 days versus the same period last year. The main moves came from DIO fell 10.0 days, DSO fell 1.0 days, and DPO rose 10.6 days.

All 3 drivers (collection, inventory, payables) are improving — working capital turnover is strengthening across the board.

Watchpoints

Cash conversion cycle remains stretched

CCC stands at 132.4 days, suggesting that working capital remains tied up for a relatively long operating cycle.

Working Capital Efficiency

Receivables 26.4 days −1.0 days

Inventory 137.5 days −10.0 days

Payables 31.5 days +10.6 days

Cash Conversion Cycle 132.4 days −21.5 days

Is financial risk significant?

Leverage is safe but FCF is negative at 230.1bn due to capex of 204.6bn — an investment choice, not an urgent risk.

Leverage & Liquidity

Leverage is balanced for now, with net debt / equity at 0.76x and interest coverage at 7.49x.

At present, short-term debt accounts for 28.6% of total debt, cash equals 1.3% of debt, and total debt stands at 267.4bn.

Watchpoints

Cash buffer is thin relative to debt

Cash / debt stands at 1.3%, leaving limited liquidity buffer to monitor.

Leverage and liquidity trend

Net Debt / Equity 0.76x +0.30x

Interest Coverage 7.49x +0.86x

Cash / Debt 1.3% +0.1pp

Short-term Debt / Total Debt 28.6% −16.3pp

CFO / NI -0.33x −2.74x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 87.0bn in 2025, against investing cash flow of -50.4bn.

Post-investment cash flow was positive +36.5bn. Financing cash flow was negative +36.8bn.

CFO / net income was -0.33x.

After spending +204.6bn on fixed-asset investment, the business generated trailing free cash flow of −230.1bn.

Cash Conversion

CFO TTM 25.5bn −179.0bn

Cash Capex 204.6bn +29.4bn

FCF TTM −230.1bn −208.5bn

Investment Takeaway

The business is heading the right way, but the current picture is still at partial confirmation — not yet a fully clean case. The positive points have clearly improved, showing the operating base is better than before. The brighter spot is operating efficiency, with net margin improving 4.1 pp. The main risk still sits in leverage and liquidity, with interest coverage at 7.49x.

Improvement: operating efficiency is getting better, with trailing-12M net margin at 23.08% after expanding 4.1pp versus the same period last year.

Key risk: leverage and liquidity remain a pressure point, with net debt / equity at 0.76x and a thin cash buffer.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	333.9	336.8	313.9	401.6	340.1
Revenue Deductions	1.0	1.2	2.9	1.8	0.0
Net Revenue	332.8	335.6	311.0	399.8	338.6
Cost of Goods Sold	192.9	209.5	220.8	266.6	0.0
Gross Profit	139.9	126.2	90.2	133.2	102.0
Financial Income	9.3	9.2	10.4	15.4	16.6
Financial Expenses	11.6	10.2	10.3	9.9	-3.5
Interest Expense	7.1	6.0	3.2	1.7	-1.0
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	-0.0
Selling Expenses	13.6	17.1	17.2	18.0	-14.9
General and Administrative Expenses	27.5	37.8	27.6	32.6	-23.6
Operating Profit	96.6	70.3	45.4	88.1	76.5
Other Income	1.3	1.0	0.6	0.4	0.0
Other Expenses	4.9	0.4	0.0	1.5	0.0
Other Profit	-3.6	0.6	0.6	-1.2	-0.2
Profit Before Tax	93.0	70.8	46.0	87.0	76.3
Current Income Tax Expense	20.4	16.0	9.3	17.6	-15.6
Deferred Income Tax Expense	-0.9	0.0	0.0	0.0	0.0
Net Income	73.5	54.9	36.7	69.3	60.8
Non-controlling Interest	—	0.0	0.0	0.0	-0.0
Profit Attributable to Parent	73.5	54.9	36.7	69.3	60.8
Earnings per Share	2,927.00	2,167.00	1,647.00	3,466.00	3,400.00
Diluted EPS	2,948.35	2,167.00	1,647.00	3,466.00	3,379.77

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	272.5	230.2	271.9	295.1	214.0
I. Cash and cash equivalents	5.1	5.2	22.9	19.5	1.5
1. Cash	5.1	5.2	8.2	6.5	0.0
2. Cash equivalents	—	0.0	14.7	13.0	0.0
II. Short-term financial investments	95.0	51.6	68.9	26.6	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	95.0	51.6	68.9	26.6	0.0
III. Short-term receivables	100.4	92.6	79.0	145.5	26.5
1. Short-term trade accounts receivable	27.1	26.4	29.1	37.6	0.0
2. Short-term prepayments to suppliers	36.2	2.5	2.7	4.6	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	2.4	33.0	22.4	30.0	0.0
6. Other short-term receivables	35.6	31.2	24.7	73.2	0.0
7. Provision for short-term doubtful debts (*)	-0.8	-0.5	0.0	0.0	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	63.1	73.2	92.0	97.0	94.4
1. Inventories	63.1	73.2	92.0	97.0	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	8.9	7.7	9.3	6.5	3.8
1. Short-term prepayments	1.9	0.8	1.5	0.7	0.0
2. Value added tax to be reclaimed	6.5	6.2	7.4	5.8	0.0
3. Taxes and other receivables from state authorities	0.5	0.7	0.4	0.0	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)	280.4	294.0	137.0	110.9	167.0
I. Long-term receivables	—	0.0	0.1	0.1	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	30.1
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	0.1	0.1	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	57.1	82.6	128.7	96.9	96.9
1. Tangible fixed assets	46.3	61.5	73.9	44.0	42.3
- Cost	138.9	172.9	178.2	115.8	0.0
- Accumulated depreciation	-92.6	-111.3	-104.3	-71.8	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	10.7	21.1	54.8	52.9	54.6
- Cost	16.7	26.8	64.3	60.7	0.0
- Accumulated depreciation	-6.0	-5.7	-9.6	-7.8	0.0
III. Investment properties	218.1	206.3	0.0	0.0	0.0
- Cost	250.0	218.6	0.0	0.0	0.0
- Accumulated depreciation	-31.9	-12.3	0.0	0.0	0.0
IV. Long-term assets in progress	—	0.0	0.0	6.6	0.0
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	—	0.0	0.0	6.6	0.0
V. Long-term financial investments	—	0.0	0.0	0.0	32.0
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	5.2	5.0	8.1	7.3	0.0
1. Long-term prepayments	2.7	4.5	7.5	6.8	0.0
2. Deferred income tax assets	0.5	0.6	0.6	0.6	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	2.0	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)	552.8	524.2	408.9	406.0	381.0
A. LIABILITIES (300=210+330)	197.6	226.1	117.3	111.7	115.7
I. Short -term liabilities	122.4	143.2	114.6	107.7	111.4
1. Short-term trade accounts payable	10.8	15.6	6.5	23.9	14.5
2. Short-term advances from customers	5.2	10.9	8.7	6.4	14.6
3. Taxes and other payables to state authorities	8.5	6.6	3.7	11.3	0.0
4. Payable to employees	22.9	21.0	17.1	18.4	0.0
5. Short-term acrrued expenses	1.7	3.5	2.2	3.9	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	—	2.1	0.0	0.0	0.0
9. Other short-term payables	3.4	4.0	1.9	10.2	0.0
10. Short-term borrowings and financial leases	62.3	76.3	71.4	29.9	60.8
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	7.6	3.3	3.1	3.7	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	75.3	82.9	2.6	4.0	4.3
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	—	2.9	0.0	0.0	0.0
7. Other long-term liabilities	6.1	3.8	0.7	1.1	0.0
8. Long-term borrowings and financial leases	65.4	74.2	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	2.3	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	1.5	2.0	1.9	2.9	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)	355.2	298.2	291.7	294.4	265.4
I. Owner's equity	355.2	298.2	291.7	294.4	0.0
1. Owner's capital	249.3	238.8	218.7	197.5	265.4
- Common stock with voting right	249,307,010,000.00	238,835,570,000.00	218,725,920,000.00	197,471,710,000.00	179,803,580,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	9.1	9.1	9.1	6.0	6.0
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	—	0.0	0.0	0.0	0.0
5. Treasury shares	-2,993,350,000.00	-3,261,350,000.00	-4,332,350,000.00	-4,216,600,000.00	0.00
6. Assets revaluation differences	—	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	0.0	0.0	0.0	0.0
8. Investment and development fund	1.0	1.0	1.0	1.0	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	98.8	52.5	67.1	94.1	64.4
- Accumulated retained earning at the end of the previous period	27.6	24.2	32.3	46.2	42.0
- Undistributed earnings in this period	71.2	28.3	34.9	47.8	22.3
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	—	0.0	0.0	0.0	0.0
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)	552.8	524.2	408.9	406.0	381.0

Item	2025	2024	2023	2022	2021
Profit Before Tax	93.0	70.8	46.0	87.0	76.3
Depreciation of Fixed Assets and Investment Property	18.6	18.0	9.7	7.7	6.4
Provision (Increase)/Reversal	-0.1	0.5	-1.0	-0.3	0.0
FX Gain/Loss from Revaluation of Monetary Items	-0.2	-0.2	-0.1	0.2	0.0
Gain/Loss from Investment Activities	-3.7	-5.5	-7.6	-11.4	0.0
Interest Expense	7.1	6.0	3.2	1.7	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	114.7	89.7	50.3	84.9	69.3
Increase/(Decrease) in Receivables	-2.1	-4.2	25.9	-89.8	0.0
Increase/(Decrease) in Inventory	10.1	18.7	5.1	-2.7	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-10.0	23.0	-25.6	23.6	0.0
Increase/(Decrease) in Prepaid Expenses	0.6	3.8	-1.6	0.2	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-7.1	-6.0	-3.2	-1.7	0.0
Corporate Income Tax Paid	-18.7	-14.5	-16.5	-11.6	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-0.6	-2.8	-2.4	-1.8	0.0
Net Cash Flow from Operating Activities	87.0	107.8	31.9	1.0	35.4
Payments for Fixed Assets and Other Long-term Assets	-42.5	-172.6	-8.3	-17.3	-4.8
Proceeds from Disposal of Fixed Assets and Long-term Assets	1.6	1.0	2.6	0.0	0.0
Loans and Purchases of Debt Instruments	-87.4	-253.0	-144.0	-213.3	-258.6
Receipts from Loan Repayments and Sale of Debt Instruments	73.2	259.7	109.3	299.6	280.2
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	4.7	5.4	7.7	11.4	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	-50.4	-159.5	-32.6	80.5	31.8
Proceeds from Equity Issuance and Capital Contributions	10,739,440,000.00	0.00	6,208,400,000.00	0.00	8,418,900,000.00
Share Repurchases	—	-268,000,000.00	-1,339,000,000.00	-720,000,000.00	-503,250,000.00
Proceeds from Borrowings	152.3	268.2	162.6	111.9	86.8
Repayment of Borrowings	-175.2	-189.0	-121.1	-142.8	-90.8
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-24.7	-45.1	-42.4	-38.7	-70.8
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	-36.8	33.8	4.0	-70.4	-66.9
Net Cash Flow During the Period	-0.2	-17.9	3.3	11.1	-2.4
Cash and Cash Equivalents at Beginning of Period	5.2	22.9	19.5	8.5	0.9
FX Difference from Revaluation	0.2	0.2	0.1	-0.1	0.2
Cash and Cash Equivalents at End of Period	5.1	5.2	22.9	19.5	1.5

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	67.6	112.1	79.8	71.2	71.2	86.9	92.0	88.5	69.0	88.5	70.4	90.1
Revenue Deductions	0.1	0.1	0.1	0.2	0.7	0.2	0.3	0.4	0.3	0.9	0.7	0.7
Net Revenue	67.5	112.0	79.7	71.1	70.6	86.7	91.7	88.1	68.7	87.6	69.8	89.4
Cost of Goods Sold	35.6	70.5	44.8	37.9	36.7	45.6	52.8	52.6	46.3	63.6	48.4	63.7
Gross Profit	31.8	41.5	34.8	33.1	33.8	41.1	39.0	35.5	22.4	24.0	21.4	25.7
Financial Income	2.4	2.3	1.9	2.7	2.5	2.7	1.9	2.1	2.4	2.6	2.8	2.7
Financial Expenses	4.9	2.6	2.5	3.3	3.3	3.0	3.6	2.2	1.5	1.4	1.7	3.4
Interest Expense	3.7	1.7	1.7	1.8	1.9	1.9	2.1	1.2	0.8	0.7	0.8	1.0
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	1.9	3.3	2.9	4.3	3.0	4.4	3.8	4.4	4.7	4.6	4.2	5.1
General and Administrative Expenses	5.3	7.8	4.8	7.4	10.8	15.1	14.2	11.4	6.8	5.1	7.8	10.1
Operating Profit	22.1	30.2	26.6	20.8	19.3	21.4	19.3	19.7	11.8	15.5	10.5	9.8
Other Income	0.1	0.1	0.8	0.7	0.4	0.2	0.3	0.7	0.1	0.9	1.9	0.0
Other Expenses	0.6	2.2	1.1	0.4	0.0	0.0	-0.1	0.4	0.0	0.0	2.1	0.0
Other Profit	-0.5	-2.2	-0.3	0.3	0.4	0.2	0.4	0.2	0.1	0.9	-0.2	0.0
Profit Before Tax	21.5	28.0	26.3	21.0	19.7	21.6	19.7	19.9	11.9	16.4	10.2	9.9
Current Income Tax Expense	4.6	6.5	5.4	4.3	3.9	4.8	3.9	4.4	2.4	3.3	2.0	2.0
Deferred Income Tax Expense	-0.2	-0.2	0.2	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	17.2	21.7	20.6	16.7	15.8	16.8	15.8	15.5	9.5	13.1	8.2	7.9
Non-controlling Interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	17.2	21.7	20.6	16.7	15.8	16.8	15.8	15.5	9.5	13.1	8.2	7.9
Earnings per Share	676.00	902.00	902.00	698.00	648.00	736.00	700.00	684.00	416.00	587.00	370.00	361.00
Diluted EPS	688.95	868.93	827.38	670.69	659.98	703.75	727.27	707.16	435.19	598.59	380.10	365.39

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)	251.4	275.2	244.5	237.6	234.9	234.0	244.7	234.1	256.9	260.8	259.9	238.4
I. Cash and cash equivalents	3.5	5.1	2.7	3.8	1.7	5.2	1.2	2.9	5.5	8.2	1.9	1.3
1. Cash	3.5	5.1	2.7	3.8	1.7	5.2	1.2	2.9	4.0	8.2	1.9	1.3
2. Cash equivalents	—	—	—	—	—	0.0	0.0	0.0	1.6	0.0	0.0	0.0
II. Short-term financial investments	103.0	95.0	89.2	91.7	76.1	51.6	59.7	47.0	39.1	91.3	74.2	43.9
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	103.0	95.0	89.2	91.7	76.1	51.6	59.7	47.0	39.1	91.3	74.2	43.9
III. Short-term receivables	58.2	102.7	74.1	62.8	78.6	94.4	102.0	89.4	119.0	64.1	88.2	101.0
1. Short-term trade accounts receivable	18.2	27.3	34.5	19.5	29.7	26.6	32.8	25.9	20.9	30.2	18.8	30.8
2. Short-term prepayments to suppliers	2.9	36.9	3.4	2.1	2.4	2.4	9.5	8.5	42.8	2.6	2.7	2.8
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	—	2.4	—	4.4	13.5	33.0	26.5	25.0	26.0	0.0	0.0	0.0
6. Other short-term receivables	38.1	37.1	37.2	37.3	33.6	32.4	33.3	29.9	29.3	31.2	66.7	67.5
7. Provision for short-term doubtful debts (*)	-0.9	-1.0	-0.9	-0.5	-0.5	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	72.5	63.7	71.8	69.6	69.8	74.5	74.2	84.6	81.8	87.3	86.5	84.9
1. Inventories	72.5	63.7	71.8	69.6	69.8	74.5	74.2	84.6	81.8	87.3	86.5	84.9
2. Provision for decline in value of inventories	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
V. Other short-term assets	14.2	8.8	6.6	9.7	8.7	8.3	7.6	10.2	11.5	9.9	9.2	7.3
1. Short-term prepayments	2.1	1.9	1.1	1.6	1.3	1.3	1.6	3.0	2.1	2.2	3.2	1.2
2. Value added tax to be reclaimed	11.7	6.5	5.1	7.4	6.6	6.2	5.3	6.5	8.6	7.4	6.0	6.1
3. Taxes and other receivables from state authorities	0.4	0.4	0.4	0.7	0.8	0.7	0.7	0.7	0.9	0.4	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)	433.9	281.3	286.5	287.4	291.2	285.6	294.6	291.6	136.0	151.1	122.7	142.6
I. Long-term receivables	—	—	—	-0.2	-0.1	-0.4	0.1	0.1	0.1	16.9	15.2	32.4
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	—	—	—	—	—	0.1	0.1	0.1	0.1	16.9	15.2	32.4
7. Provision for long-term doubtful debts	—	—	—	-0.2	-0.1	-0.5	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	62.9	62.7	66.7	79.7	78.7	71.1	80.8	285.5	126.7	126.8	100.3	102.9
1. Tangible fixed assets	54.0	45.0	47.5	58.8	59.1	60.6	67.6	122.7	72.3	74.1	47.2	49.3
- Cost	150.7	—	—	—	—	172.9	173.3	230.6	178.6	178.2	121.9	124.4
- Accumulated depreciation	-96.7	—	—	—	—	-112.3	-105.7	-107.9	-106.2	-104.1	-74.7	-75.0
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	8.9	17.7	19.3	20.9	19.7	10.5	13.3	162.9	54.3	52.7	53.1	53.5
- Cost	16.7	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-7.9	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	366.4	213.5	213.5	203.4	207.7	210.4	208.3	0.0	0.0	0.0	0.0	0.0
- Cost	400.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-33.6	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	—	—	—	—	—	0.0	0.1	0.0	0.0	0.0	0.0	0.0
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	—	—	—	—	—	0.0	0.1	0.0	0.0	0.0	0.0	0.0
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	4.7	5.0	6.3	4.4	4.8	4.4	5.2	5.9	9.1	7.5	7.3	7.4
1. Long-term prepayments	2.4	2.7	3.6	3.9	4.2	3.9	4.6	5.3	8.6	6.9	6.7	6.9
2. Deferred income tax assets	0.5	0.4	0.4	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.0	0.6
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	0.6	0.0
5. Goodwill	1.8	2.0	2.3	—	—	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)	685.3	556.5	531.0	524.9	526.0	519.5	539.3	525.7	392.9	411.9	382.6	381.0
A. LIABILITIES (300=210+330)	338.3	200.5	195.9	209.2	212.6	228.7	230.6	232.0	113.7	120.0	109.4	115.3
I. Short -term liabilities	129.8	116.2	108.8	122.8	122.9	136.5	135.6	134.1	110.4	117.4	106.0	111.4
1. Short-term trade accounts payable	18.0	10.4	13.3	14.1	14.6	20.5	10.8	15.1	6.9	6.5	9.6	11.6
2. Short-term advances from customers	5.5	6.1	5.0	4.9	6.5	10.9	5.1	6.6	7.8	9.6	7.9	5.6
3. Taxes and other payables to state authorities	5.1	8.4	9.6	9.6	4.6	6.3	8.6	4.6	3.6	3.6	4.3	4.2
4. Payable to employees	8.2	26.3	20.1	17.5	14.0	21.2	21.5	16.2	9.7	16.6	12.4	8.9
5. Short-term acrrued expenses	1.7	1.9	1.3	0.8	1.0	3.5	1.4	0.9	0.8	2.2	2.1	1.9
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	—	—	—	—	4.0	2.5	3.6	1.0	2.4	0.0	-0.2	0.0
9. Other short-term payables	7.1	4.7	4.3	2.5	8.7	0.8	3.7	6.2	3.5	4.4	6.5	6.1
10. Short-term borrowings and financial leases	76.4	53.5	50.8	69.4	65.8	67.5	79.5	80.4	73.5	71.4	60.4	69.4
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	7.7	5.0	4.6	4.0	3.7	3.3	1.3	3.0	2.4	3.1	3.0	3.7
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	208.5	84.3	87.1	86.4	89.6	92.2	95.0	98.0	3.3	2.6	3.4	3.9
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	—	—	—	—	—	2.5	3.6	0.0	0.0	0.0	0.0	0.0
7. Other long-term liabilities	13.7	6.1	6.1	5.9	6.9	4.7	4.3	10.1	1.3	0.7	1.0	1.0
8. Long-term borrowings and financial leases	191.0	74.2	76.4	78.6	80.8	83.0	85.2	86.0	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	2.3	2.5	2.7	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	1.6	1.5	1.9	1.9	1.9	2.0	1.9	1.9	1.9	1.9	2.4	2.9
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)	347.0	356.0	335.1	315.8	313.5	298.8	308.6	293.6	279.2	291.9	273.2	265.7
I. Owner's equity	347.0	356.0	335.1	315.8	313.5	298.8	308.6	293.6	279.2	291.9	273.2	265.7
1. Owner's capital	249.3	249.3	249.3	249.6	238.8	238.8	217.4	218.7	218.7	218.7	215.6	215.6
- Common stock with voting right	249,307,010,000.00	249,307,010,000.00	249,307,010,000.00	249,575,010,000.00	238,835,570,000.00	238,835,570,000.00	217,386,920,000.00	218,725,920,000.00	218,725,920,000.00	218,725,920,000.00	215,610,920,000.00	215,610,920,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	9.1	9.1	9.1	9.1	9.1	9.1	9.1	9.1	9.1	9.1	6.0	6.0
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Treasury shares	-3,200,350,000.00	-2,993,350,000.00	-2,993,350,000.00	-3,261,350,000.00	-3,261,350,000.00	-3,261,350,000.00	-3,261,350,000.00	-4,600,350,000.00	-4,332,350,000.00	-4,332,350,000.00	-4,332,350,000.00	-3,825,350,000.00
6. Assets revaluation differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0
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	90.8	99.6	78.6	59.4	67.8	53.2	84.4	69.4	54.7	67.4	54.9	46.9
- Accumulated retained earning at the end of the previous period	73.8	27.6	27.6	27.8	52.5	24.2	45.8	45.7	45.7	32.3	32.3	32.3
- Undistributed earnings in this period	17.0	72.0	51.1	31.5	15.3	28.9	38.6	23.7	9.0	35.1	22.6	14.6
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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)	685.3	556.5	531.0	524.9	526.0	527.5	539.3	525.7	392.9	411.9	382.6	381.0

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	21.5	26.4	26.3	20.6	19.7	21.5	19.8	17.9	11.9	16.3	10.2	10.1
Depreciation of Fixed Assets and Investment Property	7.9	10.1	-0.3	6.5	2.2	7.4	0.3	5.1	2.4	5.5	0.1	2.0
Provision (Increase)/Reversal	0.1	-0.5	0.1	0.3	-0.0	0.6	0.0	-0.1	0.0	-0.5	-0.0	-0.5
FX Gain/Loss from Revaluation of Monetary Items	-0.9	0.8	-0.8	0.2	-0.3	-0.5	-1.2	0.2	-0.4	-1.4	1.5	-0.4
Gain/Loss from Investment Activities	-1.3	0.2	-2.3	-0.7	-0.9	-1.9	-1.2	-0.1	-2.3	0.3	-3.9	-2.0
Interest Expense	3.7	1.7	1.7	1.8	1.9	1.9	2.1	1.2	0.8	0.7	0.8	1.0
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	31.1	38.7	24.7	28.7	22.6	29.0	19.8	24.1	12.4	20.9	8.7	10.2
Increase/(Decrease) in Receivables	39.5	-26.1	22.4	-16.9	18.5	2.9	-38.2	80.4	-81.2	-33.2	44.3	-3.6
Increase/(Decrease) in Inventory	-9.4	8.7	-3.3	1.3	3.4	-0.4	7.6	0.0	10.1	-5.5	-1.5	10.7
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-136.6	5.8	4.7	-9.6	-10.9	-6.0	3.0	18.3	-3.5	30.5	-28.6	23.9
Increase/(Decrease) in Prepaid Expenses	0.1	0.1	0.9	-0.1	-0.3	1.0	0.9	3.6	-1.6	0.9	-1.7	0.3
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-3.7	-1.7	-1.7	-1.8	-1.9	-1.9	-2.1	-1.2	-0.8	-0.7	-0.8	-1.0
Corporate Income Tax Paid	-7.1	-9.6	-3.9	0.0	-5.2	-8.3	0.5	-2.5	-3.9	-4.0	-1.9	0.0
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-0.1	-0.8	0.7	-0.4	-0.1	-0.8	-2.5	-0.1	-1.2	0.2	-1.8	-0.5
Net Cash Flow from Operating Activities	-86.2	15.0	44.5	1.2	26.2	15.7	-11.0	122.7	-69.6	9.0	16.7	40.0
Payments for Fixed Assets and Other Long-term Assets	-161.9	-42.8	4.2	-4.2	0.3	-7.5	0.4	-168.4	-0.4	-7.2	4.4	-4.2
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.1	1.0	-0.2	0.5	0.3	0.5	0.1	0.1	0.1	0.7	1.9	0.0
Loans and Purchases of Debt Instruments	-73.8	102.4	-97.1	-19.3	-73.4	-43.1	-43.0	-72.1	-50.0	19.8	-112.7	-13.9
Receipts from Loan Repayments and Sale of Debt Instruments	62.6	-74.4	66.4	37.3	43.9	52.8	52.7	22.3	119.1	12.7	65.0	7.0
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	1.1	1.4	1.2	1.5	0.6	1.2	0.5	0.6	2.3	-0.9	4.6	2.1
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	-171.9	-12.4	-25.6	15.8	-28.3	4.0	10.8	-217.6	71.1	25.1	-36.8	-8.9
Proceeds from Equity Issuance and Capital Contributions	—	—	—	—	—	21,448,650,000.00	-1,360,600,000.00	0.00	0.00	6,208,400,000.00	0.00	-19,362,460,000.00
Share Repurchases	—	—	—	—	—	0.00	268,000,000.00	-268,000,000.00	0.00	-1,223,250,000.00	716,250,000.00	-832,000,000.00
Proceeds from Borrowings	307.5	45.2	37.1	31.3	38.7	49.1	43.3	212.7	-36.9	12.7	75.7	24.5
Repayment of Borrowings	-28.0	-44.7	-58.0	-32.1	-40.4	-63.3	-44.9	-119.8	39.0	-32.3	-54.2	-25.3
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	-24.7	0.0	-0.0	-24.6	—	-23.6	0.0	0.0	-21.5	0.0	-0.0	-23.1
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	254.8	0.8	-21.1	-14.7	-1.7	-16.3	-2.8	92.6	-19.4	-14.5	22.2	-44.0
Net Cash Flow During the Period	-3.3	3.5	-2.2	2.3	-3.8	3.3	-3.0	-2.3	-17.8	19.6	2.1	-12.8
Cash and Cash Equivalents at Beginning of Period	5.1	2.7	3.8	1.7	5.2	22.9	22.9	22.9	22.9	19.5	19.5	19.5
FX Difference from Revaluation	1.7	0.2	1.3	0.1	0.3	0.7	1.2	-0.3	0.5	1.4	-1.5	0.5
Cash and Cash Equivalents at End of Period	3.5	5.1	2.7	3.8	1.7	5.2	1.2	2.9	5.5	22.9	1.9	1.3

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GDT

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