HAP

Tập đoàn Hapaco ·HOSE ·2026Q1

▼▼ Declining sharply

Margins remain under pressure Net margin −23.45%, −23.89pp YoY

Price

6,830

Latest close

04 Jun 2026

P/E -6.08x

P/B 0.63x

EPS -1,124

BVPS 10,772

ROE -9.5%

ROA -8.4%

Profit Margin -23.2%

Asset Turnover 0.36x

Equity Mult. 1.12x

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

What Is Changing

On a TTM 2026Q1 basis, HAP 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, profit relies heavily on non-core sources while operating cash flow is negative — these two factors together suggest earnings quality needs cautious evaluation.

	                            
	                                TTM REVENUE
	                            
	                                    VND 538bn
	                                
+12.1%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    −VND 126bn
	                                
−6110.3%YoY

	                            
	                                Net financial result / PBT
	                            
	                                    107.0%
	                                
affects earnings quality

Metric	2025	2024	2023	2022	2021
Revenue	560.5	419.5	299.8	632.8	375.9
Growth	+34%	+40%	-53%	+68%	—
Net Income	-109.8	101.8	18.3	7.6	34.3
Net Margin	-19.58%	24.27%	6.11%	1.20%	9.13%

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	107.7	133.5	145.2	151.3	130.7	145.2	105.4	98.4	70.7	72.2	86.0	74.2
Growth	-19%	-8%	-4%	+16%	-10%	+38%	+7%	+39%	-2%	-16%	+16%	—
Net Income	4.1	-128.2	2.8	-4.7	-9.1	8.1	0.3	2.8	2.1	8.3	5.2	5.1
Net Margin	3.77%	-96.09%	1.91%	-3.08%	-6.93%	5.58%	0.25%	2.83%	3.01%	11.49%	6.02%	6.82%

Drivers of HAP's profit

TTM

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

Gross profit ↑ 13.8bn

Finance costs ↑ 120.4bn

Other profit ↓ 18.5bn

TTM

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

Administrative expenses ↓ 9.4bn

Gross profit ↑ 6.0bn

Tax ↑ 2.7bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 0.2% = 0.4% × 0.33 × 1.11

2026Q1 -9.6% = -23.5% × 0.36 × 1.12

ROE fell from 0.2% to -9.6% — net margin weakened the most, though asset turnover and leverage still provided support.

Net margin: -23.5% -23.9pp Asset turnover: 0.36x +0.04x Leverage: 1.12x +0.01x

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 -23.45%, losing 23.9pp. SG&A / Revenue fell 3.6pp and Gross margin rose 0.8pp improved but not enough to offset the weakness in Net financial result / Revenue fell 23.1pp and Other profit / Revenue fell 3.9pp.

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 -23.45% −23.9pp

Gross Margin 16.98% +0.8pp

SG&A / Revenue 15.43% −3.6pp

Non-core / Revenue -22.72% −27.0pp

TTM YoY · 2025Q1 -> 2026Q1

Watchpoints

Financial result share remains high

Even though contribution decreased by 27.0pp, financial result still accounts for 108.1% of PBT — earnings durability should be monitored in coming periods.

Is capital being used efficiently?

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

Is capital being deployed efficiently?

ROIC fell to -8.03%, losing 7.8pp. That translates to -8.03 in after-tax operating profit for every 100 units of operating capital. The main pressure came from NOPAT margin narrowed 19.2pp, outweighing the movement in capital turnover; with invested capital holding roughly steady.

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

Watchpoints

ROIC remains low

ROIC is currently -8.03% — below the typical cost-of-capital threshold; worth tracking whether upcoming periods can rise above this level.

CAPITAL EFFICIENCY TREND

ROIC -8.03% −7.8pp

NOPAT Margin -19.88% −19.2pp

Capital Turnover 0.40x +0.05x

Average Invested Capital 1,331.4bn −8.5bn

Balance Sheet

ROIC declined — the balance sheet shows how capital is being deployed. Capital structure is conservative with low leverage — liabilities at 0.05x equity, net debt at 0.01x equity.

Over the last 12 months, working capital absorbed 59.4bn of cash, mainly because of higher receivables. Part of that drag was offset by lower inventories and higher payables.

Working Capital Drivers

Receivables increased → lower CFO: −122.5bn

Inventories decreased → higher CFO: +45.5bn

Payables increased → higher CFO: +17.6bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 32.3 days versus the same period last year. The main moves came from DIO fell 27.7 days, DSO fell 3.7 days, and DPO rose 0.9 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 100.2 days, suggesting that working capital remains tied up for a relatively long operating cycle.

Working Capital Efficiency

Receivables 67.0 days −3.7 days

Inventory 49.4 days −27.7 days

Payables 16.2 days +0.9 days

Cash Conversion Cycle 100.2 days −32.3 days

Is financial risk significant?

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

Leverage & Liquidity

Leverage warrants monitoring, with net debt / equity at 0.01x and interest coverage only at -0.91x.

At present, short-term debt accounts for 100.0% of total debt, cash equals 101.1% of debt, and total debt stands at 26.2bn.

Watchpoints

Interest coverage is thin

Interest coverage is -0.91x, 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 0.01x −0.01x

Interest Coverage -0.91x +0.75x

Cash / Debt 101.1% +60.0pp

Short-term Debt / Total Debt 100.0% +36.1pp

CFO / NI -0.26x −131.69x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 48.6bn in 2025, against investing cash flow of -21.1bn.

Post-investment cash flow was positive +27.5bn. Financing cash flow was negative +8.9bn.

CFO / net income was -0.26x.

After spending +24.3bn on fixed-asset investment, the business generated trailing free cash flow of +7.9bn.

Cash Conversion

CFO TTM 32.1bn −45.0bn

Cash Capex 24.3bn +16.4bn

FCF TTM +7.9bn −61.4bn

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. Even so, earnings quality still needs closer monitoring because net financial result remains elevated. The main risk still sits in core profitability, with net margin down 23.9 pp.

Watchpoint: the earnings mix still needs monitoring, with net financial result still accounting for 107.0% of PBT and CFO / net income currently at -0.26x.

Key risk: profitability remains under pressure, with trailing-12M net margin at -23.45% after a 23.9pp decline versus the same period last year.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	560.5	419.5	299.8	632.8	376.1
Revenue Deductions	0.0	0.0	0.0	0.0	0.0
Net Revenue	560.5	419.5	299.8	632.8	375.9
Cost of Goods Sold	510.2	364.4	258.5	483.0	0.0
Gross Profit	50.3	55.0	41.3	149.8	75.2
Financial Income	4.6	168.8	22.8	137.4	2.5
Financial Expenses	88.9	-6.7	-12.6	32.7	-2.2
Interest Expense	3.1	2.6	1.2	6.2	-2.6
Share of Associates and Joint Ventures	0.6	-5.0	9.0	0.0	4.9
Selling Expenses	15.4	14.2	12.4	29.7	-19.2
General and Administrative Expenses	78.8	104.8	50.2	226.8	-18.8
Operating Profit	-127.7	106.5	23.2	-2.0	42.3
Other Income	26.3	21.6	0.0	20.1	0.0
Other Expenses	16.0	23.0	1.5	2.0	0.0
Other Profit	10.2	-1.4	-1.5	18.2	-0.1
Profit Before Tax	-117.4	105.1	21.6	16.2	42.2
Current Income Tax Expense	-8.3	4.0	3.3	9.9	-7.9
Deferred Income Tax Expense	0.7	-0.7	0.0	-1.3	0.0
Net Income	-109.8	101.8	18.3	7.6	34.3
Non-controlling Interest	-4.0	0.2	0.6	1.0	1.3
Profit Attributable to Parent	-105.8	101.6	17.7	6.6	33.0
Earnings per Share	-954.00	916.00	160.00	65.00	594.46
Diluted EPS	-952.43	914.73	159.38	59.73	593.15

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	722.4	390.5	777.4	808.5	455.2
I. Cash and cash equivalents	35.9	17.3	11.2	137.1	15.3
1. Cash	35.9	16.3	11.2	37.1	0.0
2. Cash equivalents	—	1.0	0.0	100.0	0.0
II. Short-term financial investments	473.6	30.6	15.1	15.0	0.0
1. Available for sale securities	10.4	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	-1.7	0.0	0.0	0.0	0.0
3. Held to maturity investments	464.9	30.6	15.1	15.0	0.0
III. Short-term receivables	168.6	245.9	651.6	541.9	314.5
1. Short-term trade accounts receivable	96.9	104.7	81.1	62.8	0.0
2. Short-term prepayments to suppliers	10.6	2.0	1.3	2.6	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	32.2	79.0	292.3	0.5	0.0
6. Other short-term receivables	198.8	262.8	392.0	581.0	0.0
7. Provision for short-term doubtful debts (*)	-170.0	-202.5	-115.2	-105.0	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	32.4	81.6	86.3	103.4	88.3
1. Inventories	33.0	82.2	86.9	104.0	0.0
2. Provision for decline in value of inventories	-0.6	-0.6	-0.6	-0.6	0.0
V. Other short-term assets	11.9	15.1	13.2	11.1	9.5
1. Short-term prepayments	0.8	0.9	0.7	0.7	0.0
2. Value added tax to be reclaimed	10.9	13.3	11.4	9.7	0.0
3. Taxes and other receivables from state authorities	0.2	0.8	1.1	0.8	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)	530.1	1,283.4	497.9	516.5	346.8
I. Long-term receivables	—	269.0	0.3	29.9	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	58.3
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	—	268.9	0.0	25.0	0.0
6. Other long-term receivables	—	0.1	0.3	5.0	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	27.4	383.6	31.7	40.5	50.4
1. Tangible fixed assets	26.9	377.1	30.5	35.7	45.1
- Cost	277.4	823.7	276.8	274.3	0.0
- Accumulated depreciation	-250.5	-446.6	-246.3	-238.7	0.0
2. Financial leased fixed assets	—	4.6	0.0	0.0	0.0
- Cost	—	4.7	0.0	0.0	0.0
- Accumulated depreciation	—	-0.1	0.0	0.0	0.0
3. Intangible fixed assets	0.5	1.9	1.2	4.9	5.3
- Cost	7.1	8.2	7.1	10.9	0.0
- Accumulated depreciation	-6.6	-6.3	-5.9	-6.0	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	2.1	1.4	1.3	1.1	1.6
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	2.1	1.4	1.3	1.1	0.0
V. Long-term financial investments	495.1	55.9	459.3	441.3	232.8
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	494.6	46.0	439.4	430.4	0.0
3. Investments in other entities	17.4	17.4	41.1	41.1	0.0
4. Provision for diminution in value of long-term investments	-17.0	-17.0	-21.2	-30.2	0.0
5. Held to maturity investments	—	9.4	0.0	0.0	0.0
6. Other long-term investments	—	0.0	0.0	0.0	0.0
VI. Other long-term assets	5.6	573.5	5.3	3.6	0.0
1. Long-term prepayments	5.6	287.8	5.3	3.6	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	3.7
5. Goodwill	—	285.6	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	1,252.6	1,673.9	1,275.3	1,325.0	802.0
A. LIABILITIES (300=210+330)	57.4	226.5	71.1	83.7	75.9
I. Short -term liabilities	57.4	130.8	71.0	83.6	75.9
1. Short-term trade accounts payable	13.1	15.9	12.4	13.3	12.6
2. Short-term advances from customers	0.0	2.0	0.0	0.0	0.4
3. Taxes and other payables to state authorities	8.5	55.4	26.5	26.2	0.0
4. Payable to employees	7.9	14.3	6.5	10.7	0.0
5. Short-term acrrued expenses	1.3	3.4	1.3	1.3	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	8.0	8.5	7.7	8.6	0.0
10. Short-term borrowings and financial leases	17.5	29.8	14.9	21.6	14.8
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	1.0	1.5	1.7	2.0	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	—	95.7	0.0	0.0	0.0
1. Long-term trade payables	—	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	0.0	0.0	0.0	0.0
7. Other long-term liabilities	—	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	—	20.4	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	—	75.2	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)	1,195.2	1,447.4	1,204.2	1,241.4	726.1
I. Owner's equity	1,195.2	1,447.4	1,204.2	1,241.4	0.0
1. Owner's capital	1,111.0	1,111.0	1,111.0	1,111.0	726.1
- Common stock with voting right	1,110,977,720,000.00	1,110,977,720,000.00	1,110,977,720,000.00	1,110,977,720,000.00	556,266,210,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	29.9	29.9	29.9	29.9	29.9
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	-4,464,450,000.00	-4,464,450,000.00	-4,464,450,000.00	-4,464,450,000.00	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	23.9	23.9	23.9	63.9	0.0
9. Fund to support corporate restructuring	—	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	—	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	33.1	140.0	38.3	36.1	71.0
- Accumulated retained earning at the end of the previous period	139.1	38.3	20.6	26.7	50.5
- Undistributed earnings in this period	-105.9	101.7	17.7	9.4	20.5
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	1.7	147.1	5.5	4.9	9.4
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)	1,252.6	1,673.9	1,275.3	1,325.0	802.0

Item	2025	2024	2023	2022	2021
Profit Before Tax	-117.4	105.1	21.6	16.2	42.2
Depreciation of Fixed Assets and Investment Property	46.1	26.2	8.0	48.2	13.5
Provision (Increase)/Reversal	18.6	33.6	1.3	178.4	0.0
FX Gain/Loss from Revaluation of Monetary Items	0.0	-0.5	-0.4	0.2	0.0
Gain/Loss from Investment Activities	65.9	-161.2	-30.1	-135.9	0.0
Interest Expense	3.1	2.6	1.2	6.2	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	16.4	5.8	1.7	113.2	51.5
Increase/(Decrease) in Receivables	-64.9	299.9	-24.1	-102.7	0.0
Increase/(Decrease) in Inventory	46.3	8.0	17.1	-6.7	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-16.3	-3.1	-3.3	-3.4	0.0
Increase/(Decrease) in Prepaid Expenses	88.1	222.5	1.5	-0.3	0.0
Changes in Trading Securities	-10.4	0.0	0.0	0.0	0.0
Interest Paid	-3.4	-2.3	-1.2	-6.2	0.0
Corporate Income Tax Paid	-5.6	-4.3	-4.8	-13.5	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-1.6	-0.2	-0.2	-2.3	0.0
Net Cash Flow from Operating Activities	48.6	526.3	-13.3	-21.8	-50.3
Payments for Fixed Assets and Other Long-term Assets	-17.5	-6.8	-3.5	-3.7	-3.3
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.1	0.1	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	-460.0	-474.9	-478.8	-113.7	-34.5
Receipts from Loan Repayments and Sale of Debt Instruments	35.1	393.6	124.0	145.0	23.4
Investments in Other Entities	—	-464.4	0.0	-547.3	0.0
Proceeds from Investments in Other Entities	419.0	24.2	267.8	153.5	0.0
Dividends and Interest Income Received	2.2	11.9	40.6	4.0	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	-21.1	-516.2	-49.9	-362.3	8.8
Proceeds from Equity Issuance and Capital Contributions	—	0.00	0.00	554,711,510,000.00	0.00
Share Repurchases	—	0.00	0.00	0.00	0.00
Proceeds from Borrowings	41.7	46.3	43.4	71.9	135.2
Repayment of Borrowings	-50.2	-50.1	-50.5	-76.2	-137.9
Repayment of Finance Leases	-0.5	-0.2	0.0	0.0	0.0
Dividends Paid	—	0.0	-55.5	-44.4	0.0
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	-8.9	-3.9	-62.7	506.0	-2.7
Net Cash Flow During the Period	18.6	6.1	-125.9	121.9	-0.2
Cash and Cash Equivalents at Beginning of Period	17.3	11.2	137.1	15.3	55.4
FX Difference from Revaluation	0.0	0.0	-0.0	-0.1	0.0
Cash and Cash Equivalents at End of Period	35.9	17.3	11.2	137.1	15.3

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	107.7	133.5	145.2	151.3	130.7	145.2	105.4	98.4	70.7	72.2	86.0	74.2
Revenue Deductions	0.0	0.0	0.0	0.0	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	107.7	133.5	145.2	151.3	130.7	145.2	105.4	98.4	70.7	72.2	86.0	74.2
Cost of Goods Sold	83.8	115.3	121.4	125.8	112.8	118.3	85.4	85.7	64.1	61.8	75.0	65.0
Gross Profit	23.8	18.1	23.7	25.6	17.8	27.0	20.0	12.7	6.6	10.4	11.0	9.2
Financial Income	1.3	0.7	1.2	1.2	1.0	0.9	0.7	5.3	1.9	13.3	4.6	4.3
Financial Expenses	0.4	124.2	1.0	2.2	1.0	4.5	1.3	0.6	-4.0	-6.0	-1.3	-5.2
Interest Expense	0.3	0.3	0.7	1.2	0.9	1.4	0.6	0.4	0.1	0.3	0.2	0.3
Share of Associates and Joint Ventures	-1.6	—	—	—	—	2.7	-3.9	2.4	1.6	7.0	1.3	1.4
Selling Expenses	3.5	3.7	4.1	3.5	3.9	3.8	3.7	3.8	2.8	3.2	3.6	2.6
General and Administrative Expenses	13.2	15.6	14.6	24.8	22.6	11.9	29.7	12.3	8.4	22.8	8.4	11.7
Operating Profit	6.5	-124.7	5.3	-3.6	-8.6	10.5	-17.8	3.8	2.9	10.6	6.2	5.8
Other Income	1.2	1.0	0.0	0.1	0.0	1.0	20.5	0.1	0.0	0.0	0.0	0.0
Other Expenses	0.0	0.1	0.7	0.2	0.1	0.6	1.0	0.2	0.4	1.3	0.0	0.2
Other Profit	1.2	0.8	-0.7	-0.1	-0.1	0.4	19.5	-0.1	-0.4	-1.3	0.0	-0.2
Profit Before Tax	7.6	-123.9	4.7	-3.7	-8.7	10.9	1.7	3.7	2.5	9.3	6.2	5.6
Current Income Tax Expense	3.6	2.6	1.9	1.4	0.9	2.7	1.4	0.9	0.4	1.0	1.0	0.6
Deferred Income Tax Expense	—	1.8	—	-0.5	-0.5	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	4.1	-128.2	2.8	-4.7	-9.1	8.1	0.3	2.8	2.1	8.3	5.2	5.1
Non-controlling Interest	-0.1	-0.4	-0.4	-0.5	-0.4	1.5	0.3	0.0	-0.2	0.2	0.1	0.1
Profit Attributable to Parent	4.1	-127.8	3.2	-4.1	-8.7	6.6	-0.1	2.8	2.3	8.1	5.1	4.9
Earnings per Share	37.00	-1,152.00	28.00	-37.00	-78.00	104.00	45.00	45.00	21.00	162.00	89.00	46.00
Diluted EPS	37.31	-1,150.52	28.40	-37.27	-78.35	59.44	-0.66	24.85	20.54	73.04	45.50	44.20

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)	759.8	787.3	662.5	335.9	392.3	396.4	745.8	798.0	775.6	777.1	692.6	788.4
I. Cash and cash equivalents	26.5	36.9	34.6	29.5	20.7	18.6	53.2	14.3	12.6	15.2	11.4	15.0
1. Cash	26.5	36.9	34.6	29.5	20.7	17.6	53.2	14.3	12.6	15.2	11.4	15.0
2. Cash equivalents	—	—	—	—	—	1.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Short-term financial investments	501.7	473.6	44.2	30.7	30.7	40.1	15.1	15.1	15.1	15.1	11.8	10.8
1. Available for sale securities	7.1	8.7	12.5	—	—	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 (*)	-1.5	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Held to maturity investments	496.0	464.9	31.7	30.7	30.7	40.1	15.1	15.1	15.1	15.1	11.8	10.8
III. Short-term receivables	185.1	200.9	501.3	189.7	244.5	234.4	571.3	672.3	647.7	647.4	560.5	649.6
1. Short-term trade accounts receivable	94.7	96.9	105.6	99.6	102.7	104.6	90.0	86.6	83.2	81.2	75.5	59.8
2. Short-term prepayments to suppliers	57.1	10.6	3.9	4.4	2.6	2.9	6.0	1.6	1.3	1.3	1.4	1.2
3. Short-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Short-term loan receivables	—	34.2	347.9	25.0	79.0	25.0	25.0	354.8	354.8	292.3	266.7	128.4
6. Other short-term receivables	203.3	213.5	247.2	264.2	262.8	274.9	625.1	339.5	319.8	387.8	327.9	567.3
7. Provision for short-term doubtful debts (*)	-170.0	-154.2	-203.4	-203.4	-202.5	-173.0	-174.8	-110.3	-111.5	-115.2	-111.0	-107.1
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	35.6	64.0	69.2	74.0	84.0	86.4	87.6	79.2	84.7	86.3	94.6	98.8
1. Inventories	36.2	64.6	69.8	74.6	84.6	87.0	88.2	79.8	85.3	86.9	95.2	99.4
2. Provision for decline in value of inventories	-0.6	-0.6	-0.6	-0.6	-0.6	-0.6	-0.6	-0.6	-0.6	-0.6	-0.6	-0.6
V. Other short-term assets	10.9	11.9	13.2	12.1	12.5	16.8	18.6	17.1	15.5	13.2	14.4	14.2
1. Short-term prepayments	4.3	0.8	1.8	2.2	3.1	1.0	1.4	1.9	1.8	0.7	0.8	1.5
2. Value added tax to be reclaimed	6.5	10.9	11.1	9.6	8.6	15.6	16.8	14.7	12.9	11.4	12.8	12.0
3. Taxes and other receivables from state authorities	0.1	0.2	0.2	0.3	0.8	0.2	0.5	0.5	0.8	1.1	0.7	0.7
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)	532.9	467.6	981.7	1,308.3	1,268.6	1,029.6	678.0	481.7	504.5	498.4	585.4	524.5
I. Long-term receivables	—	—	0.1	323.0	269.0	368.5	0.5	0.3	0.3	0.6	88.7	30.2
1. Long-term trade receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	—	—	322.9	268.9	0.0	0.0	0.0	0.0	0.0	25.0	25.0
6. Other long-term receivables	—	—	0.1	0.1	0.1	368.5	0.5	0.3	0.3	0.6	63.7	5.2
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	26.7	27.4	367.1	369.3	376.6	289.1	291.1	30.3	32.0	34.9	36.0	37.3
1. Tangible fixed assets	26.3	26.9	361.4	363.2	370.4	218.6	224.8	29.3	30.9	30.5	31.5	32.6
- Cost	278.1	—	—	—	—	663.3	662.8	278.9	279.0	276.8	276.1	275.4
- Accumulated depreciation	-251.9	—	—	—	—	-444.7	-438.0	-249.7	-248.2	-246.3	-244.6	-242.8
2. Financial leased fixed assets	—	—	4.3	4.5	4.5	4.7	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	0.4	0.5	1.5	1.6	1.8	65.9	66.3	1.1	1.2	4.4	4.5	4.7
- Cost	7.1	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-6.7	—	—	—	—	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	8.2	2.1	1.6	2.9	1.9	2.3	2.2	2.1	1.6	1.3	1.1	1.2
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	8.2	2.1	1.6	2.9	1.9	2.3	2.2	2.1	1.6	1.3	1.1	1.2
V. Long-term financial investments	493.5	432.6	55.9	55.9	55.9	0.5	0.5	444.0	465.2	459.6	456.5	452.2
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	493.1	432.1	46.0	46.0	46.0	0.0	0.0	443.5	441.1	439.7	432.7	431.6
3. Investments in other entities	17.4	17.4	17.4	17.4	17.4	17.4	17.4	17.4	41.1	41.1	41.1	41.1
4. Provision for diminution in value of long-term investments	-17.0	-17.0	-17.0	-17.0	-17.0	-17.0	-17.0	-17.0	-17.0	-21.2	-22.0	-25.1
5. Held to maturity investments	—	—	9.4	9.4	9.4	0.0	0.0	0.0	0.0	0.0	4.7	4.7
6. Other long-term investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VI. Other long-term assets	4.5	5.6	557.0	557.3	565.3	369.2	383.7	4.9	5.3	2.1	3.1	3.5
1. Long-term prepayments	4.5	5.6	286.1	286.4	287.0	5.5	6.0	4.9	5.3	2.1	3.1	3.5
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	—	—	270.9	270.9	278.3	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	—	—	—	—	363.8	377.7	0.0	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	1,292.7	1,254.9	1,644.2	1,644.2	1,661.0	1,426.0	1,423.8	1,279.7	1,280.1	1,275.6	1,278.0	1,312.9
A. LIABILITIES (300=210+330)	96.0	90.2	209.3	212.0	224.1	122.4	126.4	70.6	73.8	68.3	82.7	66.2
I. Short -term liabilities	96.0	90.2	125.3	124.5	131.2	89.2	89.7	70.0	71.9	68.2	82.7	66.2
1. Short-term trade accounts payable	19.8	12.6	16.0	17.3	19.9	15.4	13.4	12.4	13.9	12.4	10.7	8.6
2. Short-term advances from customers	0.1	0.0	1.7	1.5	2.8	2.0	2.7	0.0	0.0	0.0	0.0	0.0
3. Taxes and other payables to state authorities	8.6	43.1	53.6	52.8	55.9	29.7	31.2	23.1	23.3	26.5	32.1	27.8
4. Payable to employees	6.3	7.9	10.2	8.7	8.6	11.3	9.1	5.1	4.0	6.5	6.0	5.3
5. Short-term acrrued expenses	1.1	1.4	1.3	1.5	1.6	3.7	1.3	1.2	1.1	1.3	0.6	0.8
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	33.2	6.7	8.1	8.7	8.4	8.6	12.5	8.1	8.1	4.9	9.0	8.2
10. Short-term borrowings and financial leases	26.2	17.5	33.2	31.9	32.1	17.1	17.7	18.2	19.7	14.9	22.5	13.6
11. Provision for short-term liabilities	—	—	—	0.6	0.3	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	0.6	1.0	1.3	1.6	1.8	1.5	1.7	1.7	1.7	1.7	1.8	1.8
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	—	—	84.0	87.5	92.8	33.2	36.8	0.6	1.8	0.0	0.0	0.0
1. Long-term trade payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	—	—	—	—	0.0	0.0	0.0	1.8	0.0	0.0	0.0
4. Inter-company payables on business capital	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Other long-term liabilities	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	—	—	9.8	13.3	18.1	33.2	36.8	0.6	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	—	—	74.2	74.2	74.7	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)	1,196.7	1,164.7	1,434.9	1,432.2	1,436.9	1,303.6	1,297.3	1,209.1	1,206.3	1,207.3	1,195.3	1,246.7
I. Owner's equity	1,196.7	1,164.7	1,434.9	1,432.2	1,436.9	1,303.6	1,297.3	1,209.1	1,206.3	1,207.3	1,195.3	1,246.7
1. Owner's capital	1,111.0	1,111.0	1,111.0	1,111.0	1,111.0	1,111.0	1,111.0	1,111.0	1,111.0	1,111.0	1,111.0	1,111.0
- Common stock with voting right	1,110,977,720,000.00	1,110,977,720,000.00	1,110,977,720,000.00	1,110,977,720,000.00	1,110,977,720,000.00	1,110,977,720,000.00	1,110,977,720,000.00	1,110,977,720,000.00	1,110,977,720,000.00	1,110,977,720,000.00	1,110,977,720,000.00	1,110,977,720,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	29.9	29.9	29.9	29.9	29.9	29.9	29.9	29.9	29.9	29.9	29.9	29.9
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	-4,464,450,000.00	-4,464,450,000.00	-4,464,450,000.00	-4,464,450,000.00	-4,464,450,000.00	-4,464,450,000.00	-4,464,450,000.00	-4,464,450,000.00	-4,464,450,000.00	-4,464,450,000.00	-4,464,450,000.00	-4,464,450,000.00
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	23.9	23.9	23.9	23.9	23.9	23.9	23.9	23.9	23.9	23.9	23.9	23.9
9. Fund to support corporate restructuring	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	34.8	0.9	128.7	125.7	129.8	49.8	45.9	43.4	40.6	41.4	29.6	81.1
- Accumulated retained earning at the end of the previous period	30.6	139.1	139.1	138.6	138.5	38.2	40.9	38.3	38.3	23.4	19.7	76.1
- Undistributed earnings in this period	4.1	-138.1	-10.4	-12.9	-8.7	11.6	5.0	5.0	2.3	18.0	9.9	5.1
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	1.6	3.4	145.8	146.2	146.7	93.4	91.1	5.4	5.4	5.5	5.3	5.2
14. Financial reserves	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Other resources and funds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	1,292.7	1,254.9	1,644.2	1,644.2	1,661.0	1,426.0	1,423.8	1,279.7	1,280.1	1,275.6	1,278.0	1,312.9

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	7.6	-109.1	4.7	-4.8	-8.2	10.9	1.4	3.9	2.5	9.9	5.3	5.4
Depreciation of Fixed Assets and Investment Property	1.8	10.8	5.7	22.1	7.4	-6.3	17.2	1.9	1.9	1.8	1.9	2.1
Provision (Increase)/Reversal	-0.2	17.7	0.0	1.1	-0.2	-1.8	15.1	-1.2	-8.0	3.4	0.9	-3.6
FX Gain/Loss from Revaluation of Monetary Items	—	-0.4	0.0	0.4	—	0.0	0.5	-0.5	0.0	-0.3	0.1	-0.1
Gain/Loss from Investment Activities	0.3	81.3	-14.1	-0.5	-0.8	-2.9	3.6	-6.9	-2.9	-19.2	-5.2	-5.4
Interest Expense	0.3	0.3	0.7	1.2	0.9	1.4	0.6	0.4	0.1	0.4	0.2	0.3
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	9.8	0.7	-3.0	19.5	-0.8	1.2	38.5	-2.3	-6.4	-4.1	3.2	-1.3
Increase/(Decrease) in Receivables	-44.3	-96.2	22.2	-4.1	13.2	-28.0	248.9	-72.7	60.9	-201.5	171.1	121.4
Increase/(Decrease) in Inventory	-3.2	33.8	4.8	10.0	-2.4	1.2	-5.1	5.5	1.6	8.3	4.2	14.1
Increase/(Decrease) in Payables (Excl. Interest and CIT)	30.7	-6.6	-1.7	-4.8	-3.2	85.3	-189.7	-3.1	-2.1	-1.8	7.6	-8.2
Increase/(Decrease) in Prepaid Expenses	-2.3	87.3	0.6	1.5	-1.4	0.8	0.8	0.4	-1.2	1.2	1.1	0.3
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-0.3	-0.5	-0.7	-1.1	-1.1	-1.4	-0.6	-0.4	-0.1	-0.4	-0.2	-0.3
Corporate Income Tax Paid	-4.1	-1.0	-0.0	-4.2	-0.4	-4.5	-0.5	-0.2	-0.4	-2.5	-0.9	-1.3
Other Operating Receipts	3.3	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-2.9	-0.3	-0.3	-0.2	-0.8	-0.2	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0
Net Cash Flow from Operating Activities	-13.2	19.7	9.0	16.7	3.2	54.4	92.3	-72.8	52.4	-200.7	186.0	124.8
Payments for Fixed Assets and Other Long-term Assets	-7.7	-12.5	-1.9	-2.2	-0.9	-4.5	-1.6	-0.8	-2.5	-1.7	-0.6	-0.4
Proceeds from Disposal of Fixed Assets and Long-term Assets	1.2	0.0	0.1	—	—	0.0	0.0	0.1	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	—	-405.9	0.0	-54.0	-0.1	13.2	-112.1	38.4	-62.5	-345.8	152.2	-281.5
Receipts from Loan Repayments and Sale of Debt Instruments	1.1	-17.9	-1.0	54.0	—	-25.0	398.7	4.9	0.0	258.6	-170.6	32.4
Investments in Other Entities	—	—	—	—	—	-71.6	-345.3	0.0	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	419.0	—	—	—	0.1	-0.1	24.2	0.0	267.8	-129.5	129.5
Dividends and Interest Income Received	0.5	0.9	1.1	-1.0	1.1	2.9	-6.5	9.1	9.2	29.6	7.6	3.0
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	-4.9	-16.4	-1.7	-3.1	0.1	-84.8	-66.9	75.8	-55.8	208.5	-140.9	-117.0
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	21.6	5.7	15.7	10.3	10.1	11.7	23.2	13.4	15.9	1.2	18.6	9.6
Repayment of Borrowings	-12.9	-7.2	-18.2	-14.7	-10.1	-15.9	-9.7	-14.6	-11.1	-9.2	-10.1	-15.3
Repayment of Finance Leases	—	-0.2	—	-0.3	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	—	—	—	—	—	0.0	0.0	-0.0	0.0	0.0	-55.5	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	8.8	-2.0	-2.2	-4.7	-0.0	-4.2	13.4	-1.2	4.8	-8.0	-46.9	-5.7
Net Cash Flow During the Period	-9.4	1.3	5.2	8.8	3.4	-34.6	38.8	1.8	1.4	-0.2	-1.8	2.1
Cash and Cash Equivalents at Beginning of Period	35.9	34.6	29.5	20.7	17.3	11.2	11.2	11.2	11.2	137.1	137.1	137.1
FX Difference from Revaluation	—	0.0	0.0	0.0	—	0.0	-0.0	0.0	0.0	-0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	26.5	35.9	34.6	29.5	20.7	18.6	53.2	14.3	12.6	11.2	11.4	13.2

Explore Other Stocks In The Same Sector

DHC, GVT, MZG, HHP, CAP, SVT, FSO, VID

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

HAP

What Is Changing

Drivers of HAP'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