HAF

Thực phẩm Hà Nội ·UPCOM ·2026Q1

▼▼ Declining sharply

Margins remain under pressure Net margin −96.45%, −78.12pp YoY

Price

16,600

Latest close

22 May 2026

P/E -8.82x

P/B 2.28x

EPS -1,881

BVPS 7,293

ROE -22.3%

ROA -9.9%

Profit Margin -90.9%

Asset Turnover 0.11x

Equity Mult. 2.25x

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

What Is Changing

On a TTM 2026Q1 basis, HAF posted a very sharp profit drop versus the same period, showing that pressure has clearly fed through to the bottom line — margins have been compressing consistently over multiple periods. More notably, a significant portion of profit is supported by non-core sources, further affecting earnings quality.

	                            
	                                TTM REVENUE
	                            
	                                    VND 30bn
	                                
−66.5%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    −VND 29bn
	                                
−76.5%YoY

	                            
	                                Non-core income / PBT
	                            
	                                    47.3%

Metric	2025	2024	2023	2022	2021
Revenue	42.4	87.3	85.9	113.0	140.2
Growth	-51%	+2%	-24%	-19%	—
Net Income	-34.4	-19.3	-20.6	-9.2	-7.2
Net Margin	-81.06%	-22.10%	-23.95%	-8.14%	-5.11%

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	11.0	11.4	-4.9	12.5	23.4	25.3	21.2	19.6	21.3	21.1	19.3	21.4
Growth	-3%	-331%	-139%	-46%	-7%	+20%	+8%	-8%	+1%	+9%	-10%	—
Net Income	-1.7	1.5	-27.0	-1.7	-3.1	-5.1	-3.7	-4.6	-3.5	0.3	-0.7	-6.6
Net Margin	-15.53%	12.81%	549.66%	-13.24%	-13.22%	-19.97%	-17.37%	-23.39%	-16.45%	1.47%	-3.39%	-30.76%

Drivers of HAF's profit

TTM

Net profit attributable to parent declined vs last year, mainly due to lower gross profit. Supporting and offsetting drivers:

Administrative expenses ↓ 15.4bn

Selling expenses ↓ 3.6bn

Gross profit ↓ 17.1bn

Other profit ↓ 13.7bn

Minority interests ↑ 4.0bn

TTM

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

Administrative expenses ↓ 4.6bn

Selling expenses ↓ 1.0bn

Gross profit ↓ 3.5bn

Minority interests ↑ 0.6bn

Finance costs ↑ 0.4bn

Other profit ↓ 0.3bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 -11.0% = -18.3% × 0.31 × 1.91

2026Q1 -23.6% = -96.5% × 0.11 × 2.25

ROE fell from -11.0% to -23.6% — net margin weakened the most, though leverage still provided support.

Net margin: -96.5% -78.1pp Asset turnover: 0.11x -0.21x Leverage: 2.25x +0.33x

Is the profit sustainable?

Margins are under pressure while earnings still rely significantly on non-core sources.

very positive positive stable watch under pressure

What is driving the margin?

Net margin fell to -96.45%, losing 78.1pp. The main pressure is SG&A / Revenue rose 35.0pp, outweighing the improvement in Gross margin rose 17.0pp (with lingering pressure from Other profit / Revenue fell 45.3pp and Net financial result / Revenue fell 14.1pp).

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 -96.45% −78.1pp

Gross Margin 54.46% +17.0pp

SG&A / Revenue 84.57% +35.0pp

Non-core / Revenue -65.05% −59.4pp

TTM YoY · 2025Q1 -> 2026Q1

Watchpoints

Other income share remains high

Even though contribution decreased by 59.4pp, other income still accounts for 68.4% of PBT — earnings durability should be monitored in coming periods.

Is capital being used efficiently?

Capital efficiency should be read in industry context — ROIC may fluctuate with business specifics.

Is capital being deployed efficiently?

Track how much operating profit the business generates on invested capital.

Industry characteristics make ROIC cyclical — this is a reference signal and should be read with the business context.

CAPITAL EFFICIENCY TREND

ROIC — —

NOPAT Margin -49.50% −31.5pp

Capital Turnover — —

Average Invested Capital — —

Balance Sheet

ROIC above should be read with industry context — the balance sheet below adds perspective. Capital structure is balanced — liabilities at 1.46x equity, net debt at 0.81x equity.

Over the last 12 months, working capital released 6.3bn of cash, mainly thanks to higher payables. Pressure from higher receivables only partly offset that benefit.

Working Capital Drivers

Receivables increased → lower CFO: −3.4bn

Inventories were broadly stable → neutral CFO: —

Payables increased → higher CFO: +9.7bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 405.3 days versus the same period last year. The main moves came from DIO rose 6.2 days, DSO rose 21.2 days, and DPO rose 432.7 days.

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

Watchpoints

Receivables collection is slowing

DSO increased by +21.2 days, pointing to slower receivables turnover.

Inventory turnover is slowing

DIO increased by +6.2 days, suggesting more capital is being tied up in inventories.

Working Capital Efficiency

Receivables 32.5 days +21.2 days

Inventory 16.3 days +6.2 days

Payables 550.8 days +432.7 days

Cash Conversion Cycle -502.0 days −405.3 days

Is financial risk significant?

Leverage is safe but FCF is negative at 28.9bn due to capex of 20.5bn — an investment choice, not an urgent risk.

Leverage & Liquidity

Leverage warrants monitoring, with net debt / equity at 0.81x and interest coverage only at -1.58x.

At present, short-term debt accounts for 100.0% of total debt, cash equals 4.9% of debt, and total debt stands at 89.6bn.

Watchpoints

Interest coverage is thin

Interest coverage is -1.58x, leaving limited room to absorb financing costs.

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 0.81x —

Interest Coverage -1.58x +0.29x

Cash / Debt 4.9% —

Short-term Debt / Total Debt 100.0% —

CFO / NI 0.31x +0.03x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

Operating cash flow reached -18.7bn in 2025, against investing cash flow of -25.9bn.

Post-investment cash flow was negative +44.6bn. Financing cash flow was positive +14.3bn.

CFO / net income was 0.31x.

After spending +20.5bn on fixed-asset investment, the business generated trailing free cash flow of −28.9bn.

Cash Conversion

CFO TTM 8.4bn −5.4bn

Cash Capex 20.5bn —

FCF TTM −28.9bn —

Investment Takeaway

The business is under real pressure, but the current picture has not turned broadly adverse. A notable area has clearly weakened, making the near-term outlook hard to call bright; even so, other parts of the business are still holding up, with margins remain under pressure remaining the main constraint, with net margin down 78.1 pp. The next watchpoint is the earnings mix, when non-core contribution is 21.1%.

Watchpoint: the earnings mix still needs monitoring, with net financial result still accounting for 21.1% of PBT and CFO / net income currently at 0.31x.

Key risk: profitability remains under pressure, with trailing-12M net margin at -96.45% after a 78.1pp decline versus the same period last year.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	42.4	87.3	86.0	113.2	140.4
Revenue Deductions	0.0	0.0	0.1	0.2	0.0
Net Revenue	42.4	87.3	85.9	113.0	140.2
Cost of Goods Sold	22.6	55.1	61.8	83.8	0.0
Gross Profit	19.9	32.2	24.1	29.2	35.2
Financial Income	3.7	3.4	4.7	5.0	2.9
Financial Expenses	9.6	8.7	5.0	6.1	-3.4
Interest Expense	9.2	8.6	5.0	5.9	-3.4
Share of Associates and Joint Ventures	-1.4	-0.3	-0.1	-1.9	-1.1
Selling Expenses	5.3	7.7	7.0	8.5	-18.4
General and Administrative Expenses	28.0	38.2	36.8	26.9	-25.6
Operating Profit	-20.8	-19.3	-20.1	-9.1	-10.4
Other Income	0.7	1.0	0.2	0.5	0.0
Other Expenses	13.8	0.7	0.3	0.2	0.0
Other Profit	-13.1	0.2	-0.1	0.2	3.5
Profit Before Tax	-34.0	-19.0	-20.2	-8.9	-6.9
Current Income Tax Expense	0.4	0.3	0.4	0.3	-0.2
Deferred Income Tax Expense	—	0.0	0.0	0.0	0.0
Net Income	-34.4	-19.3	-20.6	-9.2	-7.2
Non-controlling Interest	-3.0	-5.2	-1.9	-1.2	-1.5
Profit Attributable to Parent	-31.4	-14.1	-18.6	-8.0	-5.7
Earnings per Share	-2,166.00	-975.00	-1,285.00	-550.00	-72.00
Diluted EPS	-2,165.97	-975.45	-1,285.45	-550.00	-391.37

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	77.3	98.4	64.2	131.2	94.9
I. Cash and cash equivalents	4.6	34.9	10.5	45.8	4.8
1. Cash	4.6	6.9	5.5	5.8	0.0
2. Cash equivalents	—	28.0	5.0	40.0	0.0
II. Short-term financial investments	48.5	38.3	38.2	56.0	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	48.5	38.3	38.2	56.0	0.0
III. Short-term receivables	10.8	14.1	7.4	13.3	27.8
1. Short-term trade accounts receivable	2.2	3.1	3.8	5.0	0.0
2. Short-term prepayments to suppliers	3.3	4.8	3.8	1.3	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	4.5	4.5	4.5	4.5	0.0
6. Other short-term receivables	30.4	28.0	18.7	17.0	0.0
7. Provision for short-term doubtful debts (*)	-29.5	-26.2	-23.3	-14.6	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	0.0	3.1	1.9	13.3	26.1
1. Inventories	0.0	3.1	1.9	13.3	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	13.4	8.0	6.2	2.8	0.2
1. Short-term prepayments	0.2	0.1	0.1	0.3	0.0
2. Value added tax to be reclaimed	10.1	7.8	5.2	0.7	0.0
3. Taxes and other receivables from state authorities	3.1	0.0	0.9	1.8	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)	187.5	180.5	158.6	120.8	122.2
I. Long-term receivables	0.3	0.3	0.3	0.2	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	0.2	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	0.3	0.3	0.3	0.0	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	42.6	46.9	50.9	55.6	60.1
1. Tangible fixed assets	42.6	46.9	50.9	55.6	60.1
- Cost	130.3	130.7	131.6	131.9	0.0
- Accumulated depreciation	-87.7	-83.8	-80.7	-76.3	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	—	0.0	0.0	0.0	0.0
- Cost	0.2	0.2	0.2	0.2	0.0
- Accumulated depreciation	-0.2	-0.2	-0.2	-0.2	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	143.6	126.9	94.7	61.5	53.6
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	143.6	126.9	94.7	61.5	0.0
V. Long-term financial investments	0.6	2.5	2.8	2.9	5.1
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	0.4	1.8	2.1	2.1	0.0
3. Investments in other entities	1.2	1.2	1.2	1.2	0.0
4. Provision for diminution in value of long-term investments	-0.9	-0.5	-0.4	-0.4	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	0.4	3.9	9.8	0.6	0.0
1. Long-term prepayments	0.4	3.9	9.8	0.6	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	3.4
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)	264.8	278.9	222.8	252.1	217.1
A. LIABILITIES (300=210+330)	157.3	135.8	88.7	97.2	74.7
I. Short -term liabilities	133.5	110.8	65.1	65.1	43.1
1. Short-term trade accounts payable	8.2	9.7	2.2	4.5	4.4
2. Short-term advances from customers	0.1	0.0	0.0	0.0	0.1
3. Taxes and other payables to state authorities	0.9	1.4	9.5	0.8	0.0
4. Payable to employees	0.6	1.0	1.2	1.0	0.0
5. Short-term acrrued expenses	0.1	0.2	0.2	0.0	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	1.8	1.5	1.4	1.4	0.3
9. Other short-term payables	27.1	17.3	8.7	4.1	0.0
10. Short-term borrowings and financial leases	94.6	79.6	41.8	53.2	35.4
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	0.2	0.2	0.2	0.2	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	23.8	25.0	23.6	32.1	31.7
1. Long-term trade payables	8.8	9.8	9.8	19.8	19.8
2. Long-term advances from customers	—	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	8.9	8.9	8.9	8.9	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	6.1	6.3	4.9	3.4	0.0
8. Long-term borrowings and financial leases	—	0.0	0.0	0.0	0.9
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)	107.5	143.1	134.1	154.8	142.4
I. Owner's equity	107.5	143.1	134.1	154.8	0.0
1. Owner's capital	145.0	145.0	145.0	145.0	142.4
- Common stock with voting right	145,000,000,000.00	145,000,000,000.00	145,000,000,000.00	145,000,000,000.00	145,000,000,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	0.3	0.3	0.3	0.3	0.3
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	—	0.00	0.00	0.00	0.00
6. Assets revaluation differences	-0.5	-0.5	-0.5	-0.5	0.0
7. Foreign exchange differences	—	0.0	0.0	0.0	0.0
8. Investment and development fund	0.8	0.8	0.8	0.8	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	-118.0	-86.6	-72.4	-53.6	-32.0
- Accumulated retained earning at the end of the previous period	-86.6	-72.4	-53.8	-45.7	-26.4
- Undistributed earnings in this period	-31.4	-14.1	-18.6	-8.0	-5.7
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	79.8	84.1	60.9	62.9	28.8
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)	264.8	278.9	222.8	252.1	217.1

Item	2025	2024	2023	2022	2021
Profit Before Tax	-34.0	-19.0	-20.2	-8.9	-6.9
Depreciation of Fixed Assets and Investment Property	4.4	4.6	4.7	5.1	5.4
Provision (Increase)/Reversal	3.8	3.0	8.7	0.8	0.0
FX Gain/Loss from Revaluation of Monetary Items	—	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-2.4	-2.8	-4.7	-3.2	0.0
Interest Expense	9.2	8.6	5.0	5.9	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	—	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	-19.0	-5.7	-6.5	-0.2	-0.1
Increase/(Decrease) in Receivables	-5.0	-8.6	10.2	-0.4	0.0
Increase/(Decrease) in Inventory	3.1	-1.2	11.4	12.8	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-1.1	21.9	-2.0	34.8	0.0
Increase/(Decrease) in Prepaid Expenses	3.5	5.8	-8.9	2.6	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	—	0.0	-0.4	-2.1	0.0
Corporate Income Tax Paid	-0.2	-0.4	-0.3	-0.4	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	—	0.0	0.0	0.0	0.0
Net Cash Flow from Operating Activities	-18.7	11.8	3.5	47.1	-17.8
Payments for Fixed Assets and Other Long-term Assets	-19.1	-27.1	-50.7	-6.4	-0.8
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.2	0.3	0.1	0.1	0.0
Loans and Purchases of Debt Instruments	-116.2	-71.3	-61.2	-77.0	-71.2
Receipts from Loan Repayments and Sale of Debt Instruments	106.0	71.2	79.0	57.0	71.4
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	3.2	2.7	5.4	3.3	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	-25.9	-24.2	-27.4	-23.0	1.0
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	15.0	37.8	3.9	70.5	90.7
Repayment of Borrowings	—	0.0	-15.4	-53.6	-75.4
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-0.7	-1.0	0.0	-0.0	-0.6
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	14.3	36.9	-11.4	16.9	14.7
Net Cash Flow During the Period	-30.3	24.4	-35.4	41.0	-9.1
Cash and Cash Equivalents at Beginning of Period	34.9	10.5	45.8	4.8	6.9
FX Difference from Revaluation	—	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	4.6	34.9	10.5	45.8	4.8

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	11.0	11.4	-4.9	12.5	23.4	25.3	21.2	19.6	21.3	21.1	19.3	21.4
Revenue Deductions	—	—	—	0.0	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	11.0	11.4	-4.9	12.5	23.4	25.3	21.2	19.6	21.3	21.1	19.3	21.4
Cost of Goods Sold	5.3	2.5	2.5	3.3	14.2	17.0	13.7	11.1	13.4	12.9	11.4	19.6
Gross Profit	5.7	8.9	-7.4	9.2	9.2	8.3	7.5	8.4	7.9	8.2	7.9	1.8
Financial Income	0.7	0.9	1.1	0.9	0.8	0.9	0.9	0.9	0.8	0.9	1.2	1.4
Financial Expenses	2.5	2.6	2.3	2.2	2.2	2.2	2.2	2.2	2.0	1.2	1.2	1.2
Interest Expense	2.5	2.6	2.3	2.2	2.2	2.2	2.2	2.2	2.0	1.2	1.2	1.2
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	-0.2	0.0	0.0	0.0	0.0
Selling Expenses	0.6	1.5	0.8	1.4	1.6	2.5	1.3	2.5	1.4	1.7	1.7	1.8
General and Administrative Expenses	4.8	2.9	5.0	8.4	9.4	9.3	8.6	9.2	8.8	5.9	7.2	7.0
Operating Profit	-1.5	2.7	-14.3	-1.9	-3.2	-4.7	-3.8	-4.7	-3.6	0.3	-1.0	-6.8
Other Income	0.0	0.0	0.1	0.3	0.2	0.5	0.3	0.4	0.1	0.1	0.6	0.4
Other Expenses	0.1	1.0	12.7	0.0	0.0	0.7	0.1	0.2	0.0	0.0	0.1	0.0
Other Profit	-0.1	-1.0	-12.6	0.3	0.1	-0.2	0.1	0.2	0.1	0.1	0.5	0.4
Profit Before Tax	-1.7	1.7	-27.0	-1.6	-3.1	-5.0	-3.6	-4.5	-3.4	0.4	-0.5	-6.5
Current Income Tax Expense	0.0	0.2	0.1	0.0	0.0	0.1	0.1	0.0	0.1	0.1	0.1	0.1
Deferred Income Tax Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	-1.7	1.5	-27.0	-1.7	-3.1	-5.1	-3.7	-4.6	-3.5	0.3	-0.7	-6.6
Non-controlling Interest	-0.9	-0.4	-0.1	-0.3	-1.4	-1.5	-1.3	-1.4	-1.4	0.1	-0.4	-0.3
Profit Attributable to Parent	-0.8	1.8	-26.9	-1.4	-1.7	-3.5	-2.4	-3.2	-2.1	0.3	-0.3	-6.3
Earnings per Share	-58.10	125.90	-1,855.67	-93.61	-114.17	-241.83	-164.04	-219.55	-142.74	17.41	-19.29	-432.85
Diluted EPS	-58.10	125.90	-1,855.67	-93.61	-114.17	-241.83	-164.04	-219.55	-142.74	17.41	-19.29	-432.85

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)	74.2	78.3	83.6	100.3	98.2	100.8	105.3	104.8	116.1	74.9	84.2	93.1
I. Cash and cash equivalents	4.4	4.6	14.3	18.7	21.6	34.9	41.7	40.9	57.0	10.5	23.8	36.2
1. Cash	4.4	4.6	8.3	3.7	3.6	6.9	9.7	10.9	24.0	5.5	3.7	5.2
2. Cash equivalents	—	—	6.0	15.0	18.0	28.0	32.0	30.0	33.0	5.0	20.0	31.0
II. Short-term financial investments	53.8	48.5	46.0	57.7	52.5	38.3	38.5	38.5	38.2	38.2	38.5	37.5
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	53.8	48.5	46.0	57.7	52.5	38.3	38.5	38.5	38.2	38.2	38.5	37.5
III. Short-term receivables	6.1	12.7	12.4	14.8	13.9	16.6	15.8	15.3	12.9	16.4	15.3	13.5
1. Short-term trade accounts receivable	2.5	2.2	2.3	2.7	2.9	3.1	2.8	3.0	2.7	3.8	4.7	4.2
2. Short-term prepayments to suppliers	2.2	3.3	3.2	3.9	4.1	4.9	6.4	7.0	9.0	4.4	1.6	1.6
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	—	4.5	4.5	4.5	4.5	4.5	4.5	4.5	4.5	4.5	4.5	4.5
6. Other short-term receivables	31.0	31.3	30.8	30.1	28.6	28.0	25.6	24.4	20.0	18.8	19.3	17.8
7. Provision for short-term doubtful debts (*)	-29.5	-28.6	-28.3	-26.4	-26.2	-23.9	-23.6	-23.6	-23.3	-15.1	-14.9	-14.6
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	0.0	0.0	0.0	0.0	1.2	3.1	1.7	2.4	1.9	1.9	1.4	1.7
1. Inventories	0.0	0.0	0.0	0.0	1.2	3.1	1.7	2.4	1.9	1.9	1.4	1.7
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	9.8	12.4	10.9	9.1	8.9	7.9	7.5	7.7	6.2	8.0	5.3	4.2
1. Short-term prepayments	0.1	0.2	0.2	0.1	0.2	0.1	0.1	0.1	0.1	0.1	0.1	0.1
2. Value added tax to be reclaimed	9.7	10.1	10.7	8.9	8.7	7.8	7.4	6.8	6.1	5.2	5.2	3.8
3. Taxes and other receivables from state authorities	0.0	2.2	0.0	0.0	0.0	0.0	0.0	0.9	0.0	2.7	0.0	0.3
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)	191.3	188.4	189.2	187.3	187.5	180.3	180.7	175.0	167.3	149.3	149.5	133.8
I. Long-term receivables	0.3	0.3	0.3	0.3	0.3	0.3	2.3	2.3	0.7	0.1	0.1	0.1
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	0.3	0.3	0.3	0.3	0.3	0.3	2.3	2.3	0.7	0.1	0.1	0.1
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	41.6	177.7	43.7	44.8	45.8	46.9	48.0	48.7	49.8	50.9	52.1	53.3
1. Tangible fixed assets	41.6	177.7	43.7	44.8	45.8	46.9	48.0	48.7	49.8	50.9	52.1	53.3
- Cost	130.3	—	—	—	—	130.7	131.6	131.6	131.6	131.6	131.6	131.6
- Accumulated depreciation	-88.7	—	—	—	—	-83.8	-83.5	-83.0	-81.9	-80.7	-79.5	-78.4
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	0.2	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-0.2	—	—	—	—	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	148.2	7.8	142.7	138.9	136.6	126.6	122.4	114.6	105.7	95.0	94.1	77.1
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	148.2	7.8	142.7	138.9	136.6	126.6	122.4	114.6	105.7	95.0	94.1	77.1
V. Long-term financial investments	0.6	2.3	2.3	2.5	2.5	2.6	2.6	2.6	2.8	2.9	2.9	2.9
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	0.4	1.8	1.8	1.8	1.8	1.9	1.9	1.9	2.1	2.1	2.1	2.1
3. Investments in other entities	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2
4. Provision for diminution in value of long-term investments	-0.9	-0.7	-0.7	-0.5	-0.5	-0.4	-0.4	-0.4	-0.4	-0.4	-0.4	-0.4
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	0.7	0.4	0.3	0.9	2.4	3.9	5.4	6.8	8.3	0.4	0.3	0.4
1. Long-term prepayments	0.7	0.4	0.3	0.9	2.4	3.9	5.4	6.8	8.3	0.4	0.3	0.4
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)	265.5	266.7	272.8	287.6	285.6	281.1	286.0	279.8	283.4	224.2	233.7	226.9
A. LIABILITIES (300=210+330)	159.7	157.2	164.2	149.9	146.3	135.5	135.3	127.5	125.6	80.2	89.9	82.0
I. Short -term liabilities	135.9	133.4	140.3	125.9	122.2	110.5	111.6	103.6	101.8	56.6	66.4	58.8
1. Short-term trade accounts payable	10.9	8.2	9.2	14.5	13.2	9.4	8.8	7.3	4.5	2.2	5.4	4.1
2. Short-term advances from customers	0.0	0.1	0.0	0.1	0.0	0.0	0.0	0.0	0.1	0.0	0.1	0.0
3. Dividends and profits payable	0.6	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	3.0	0.8	9.8	7.4	6.4	1.4	5.4	0.7	4.6	1.0	8.4	3.4
4. Payable to employees	0.3	0.5	0.3	0.3	0.5	1.0	0.5	0.5	0.5	1.2	0.6	0.7
5. Short-term acrrued expenses	0.3	0.1	0.0	0.3	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.1
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	1.8	1.8	2.0	1.8	1.9	1.5	1.6	1.4	1.4	1.4	1.9	1.6
9. Other short-term payables	29.3	27.1	24.1	21.7	20.2	17.3	15.2	13.6	10.7	8.7	7.7	6.5
10. Short-term borrowings and financial leases	89.6	—	—	—	—	79.6	0.0	0.0	0.0	0.0	42.0	0.0
11. Provision for short-term liabilities	—	94.6	94.6	79.6	79.6	0.0	79.6	79.6	79.6	41.8	0.0	42.3
12.. Bonus and welfare fund	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2
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	23.8	23.8	23.9	24.0	24.0	25.0	23.7	23.9	23.8	23.6	23.5	23.3
1. Long-term trade payables	8.5	8.8	8.8	8.8	8.8	9.8	9.8	9.8	9.8	9.8	9.8	9.8
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	8.9	8.9	8.9	8.9	8.9	8.9	8.9	8.9	8.9	8.9	8.9	8.9
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	6.4	6.1	6.2	6.3	6.3	6.3	5.0	5.2	5.1	4.9	4.8	4.6
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	—	—	—	—	—	0.0	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)	105.7	109.5	108.6	137.7	139.3	145.6	150.7	152.3	157.8	144.1	143.8	144.9
I. Owner's equity	105.7	109.5	108.6	137.7	139.3	145.6	150.7	152.3	157.8	144.1	143.8	144.9
1. Owner's capital	145.0	145.0	145.0	145.0	145.0	145.0	145.0	145.0	145.0	145.0	145.0	145.0
- Common stock with voting right	145,000,000,000.00	145,000,000,000.00	145,000,000,000.00	145,000,000,000.00	145,000,000,000.00	145,000,000,000.00	145,000,000,000.00	145,000,000,000.00	145,000,000,000.00	145,000,000,000.00	145,000,000,000.00	145,000,000,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3
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	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
6. Assets revaluation differences	-0.5	-0.5	-0.5	-0.5	-0.5	-0.5	-0.5	-0.5	-0.5	-0.5	-0.5	-0.5
7. Foreign exchange differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8
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	-118.8	-115.6	-117.5	-88.5	-88.2	-83.6	-80.0	-77.6	-74.5	-63.3	-63.5	-62.8
- Accumulated retained earning at the end of the previous period	-118.0	-86.6	-86.6	-86.6	-86.6	-72.4	-72.4	-72.4	-72.4	-53.8	-53.8	-53.8
- Undistributed earnings in this period	-0.8	-29.1	-30.9	-2.0	-1.7	-11.1	-7.6	-5.2	-2.1	-9.5	-9.7	-9.0
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	78.9	79.5	80.5	80.6	81.9	83.6	85.1	84.2	86.7	61.8	61.7	62.1
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)	265.5	266.7	272.8	287.6	285.6	281.1	286.0	279.8	283.4	224.2	233.7	226.9

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	-1.7	-0.2	-27.0	-3.7	-3.1	-5.0	-3.6	-4.5	-3.4	-9.5	-0.5	-7.0
Depreciation of Fixed Assets and Investment Property	1.0	1.1	1.1	1.1	1.1	1.1	1.1	1.1	1.2	1.2	1.2	1.2
Provision (Increase)/Reversal	—	1.7	0.0	2.1	—	0.3	0.0	0.3	0.0	8.5	0.0	0.3
FX Gain/Loss from Revaluation of Monetary Items	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-0.7	0.3	-1.1	-0.9	-0.8	-1.1	-0.7	-0.9	-0.8	-0.9	-1.2	-1.4
Interest Expense	2.5	2.6	2.3	2.2	2.2	2.2	2.2	2.2	2.0	1.2	1.2	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	1.2	5.5	-24.7	0.8	-0.5	-2.4	-1.0	-1.8	-1.1	0.4	0.6	-5.6
Increase/(Decrease) in Receivables	4.0	-1.5	-1.6	-4.3	2.4	-0.9	1.8	-2.7	-5.2	14.5	-2.4	8.7
Increase/(Decrease) in Inventory	—	0.0	0.0	1.2	1.9	-1.4	0.6	-0.4	0.0	-0.5	0.3	7.7
Increase/(Decrease) in Payables (Excl. Interest and CIT)	2.0	-10.0	2.2	15.5	-8.9	-4.8	3.9	5.7	13.5	-0.8	5.4	0.8
Increase/(Decrease) in Prepaid Expenses	-0.3	-0.0	0.5	1.6	1.5	1.4	1.3	1.5	1.5	-9.4	0.1	0.2
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	—	—	—	—	—	0.0	0.0	0.0	0.0	-0.0	-0.0	-0.1
Corporate Income Tax Paid	-0.3	-0.1	-0.0	-0.0	-0.1	-0.1	-0.0	-0.0	-0.2	-0.1	-0.1	-0.1
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Operating Activities	6.6	-6.1	-23.7	14.8	-3.7	-8.1	6.6	2.2	8.4	4.0	4.0	11.7
Payments for Fixed Assets and Other Long-term Assets	-1.4	-2.0	-8.2	-8.9	—	-2.7	-5.5	-19.0	0.0	-19.4	-15.6	-15.6
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.0	0.0	0.2	—	0.2	0.1	0.0	0.0	0.0	0.1	0.0
Loans and Purchases of Debt Instruments	-15.8	-33.5	-25.0	-31.0	-26.7	-25.8	-4.0	-34.5	-4.0	-33.2	-4.0	-20.0
Receipts from Loan Repayments and Sale of Debt Instruments	15.0	31.0	36.7	21.8	16.5	26.0	4.0	34.2	4.0	33.5	3.0	20.0
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	0.4	0.2	1.5	0.9	0.6	2.6	1.4	1.2	0.2	2.0	0.4	1.3
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	-1.8	-4.3	5.0	-17.0	-9.6	0.3	-4.1	-18.0	0.2	-17.1	-16.2	-14.3
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	—	0.0	15.0	—	—	0.0	0.0	0.0	37.8	0.0	0.0	0.0
Repayment of Borrowings	-5.0	—	—	—	—	0.0	0.0	0.0	0.0	-0.2	-0.2	-4.2
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	-0.0	0.7	-0.7	-0.7	-0.0	1.0	-1.7	-0.3	-0.0	0.0	0.0	0.0
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	-5.0	0.7	14.3	-0.7	-0.0	1.0	-1.7	-0.3	37.8	-0.2	-0.2	-4.2
Net Cash Flow During the Period	-0.2	-9.7	-4.4	-2.9	-13.3	-6.8	0.8	-16.1	46.5	-13.3	-12.4	-6.8
Cash and Cash Equivalents at Beginning of Period	4.6	14.3	18.7	21.6	34.9	10.5	10.5	10.5	10.5	45.8	45.8	45.8
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	4.4	4.6	14.3	18.7	21.6	34.9	41.7	40.9	57.0	10.5	23.8	36.2

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HAF

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