HMC

Kim khí Thành phố Hồ Chí Minh - VNSTEEL ·HOSE ·2026Q1

▲ Slightly positive

Earnings conversion is confirmed CFO/NPAT −3.81x

Price

11,350

Latest close

03 Jun 2026

P/E 8.50x

P/B 0.72x

EPS 1,335

BVPS 15,678

ROE 8.7%

ROA 2.3%

Profit Margin 0.5%

Asset Turnover 4.40x

Equity Mult. 3.74x

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

What Is Changing

On a TTM 2026Q1 basis, HMC is maintaining revenue growth, but margins have not improved proportionally — earnings have been recovering gradually over multiple periods. However, operating cash flow is significantly negative relative to profit — this needs monitoring in coming periods.

	                            
	                                TTM REVENUE
	                            
	                                    VND 6,915bn
	                                
+50.3%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 36bn
	                                
+21.5%YoY

	                            
	                                CFO / Net Income
	                            
	                                    -3.81x
	                                
negative cash flow vs profit

Metric	2025	2024	2023	2022	2021
Revenue	5,764.5	4,235.5	3,119.5	3,411.5	3,830.6
Growth	+36%	+36%	-9%	-11%	—
Net Income	31.2	25.6	21.1	3.1	142.1
Net Margin	0.54%	0.60%	0.68%	0.09%	3.71%

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	2,344.0	1,745.7	1,402.6	1,422.4	1,193.9	1,257.8	1,075.1	1,074.0	828.5	772.2	691.0	764.1
Growth	+34%	+24%	-1%	+19%	-5%	+17%	+0%	+30%	+7%	+12%	-10%	—
Net Income	13.2	7.3	6.9	9.0	8.0	10.2	6.2	5.6	3.6	13.8	2.0	2.8
Net Margin	0.56%	0.42%	0.49%	0.64%	0.67%	0.81%	0.58%	0.52%	0.44%	1.79%	0.29%	0.36%

Drivers of HMC's profit

TTM

Net profit attributable to parent increased vs last year, mainly helped by higher gross profit. Supporting and offsetting drivers:

Gross profit ↑ 81.2bn

Financial income ↑ 7.5bn

Selling expenses ↑ 38.9bn

Finance costs ↑ 25.1bn

Administrative expenses ↑ 11.4bn

Tax ↑ 6.8bn

TTM

Net profit attributable to parent increased vs prior quarter, mainly helped by higher gross profit. Supporting and offsetting drivers:

Gross profit ↑ 43.1bn

Other profit ↑ 0.7bn

Selling expenses ↑ 20.0bn

Finance costs ↑ 14.3bn

Administrative expenses ↑ 2.7bn

Tax ↑ 2.2bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 7.3% = 0.7% × 3.37 × 3.33

2026Q1 8.7% = 0.5% × 4.40 × 3.74

ROE rose from 7.3% to 8.7% — mainly driven by asset turnover, despite net margin moving in the opposite direction.

Net margin: 0.5% -0.1pp Asset turnover: 4.40x +1.03x Leverage: 3.74x +0.41x

Is the profit sustainable?

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

very positive positive stable watch under pressure

What is driving the margin?

Net margin stands at 0.53%, broadly flat versus the same period. Supportive factors and pressure points are offsetting one another.

Margin is nearly flat but the underlying components are moving — this is a transitional phase, more time is needed to see the real trend.

Profitability trend

Net Margin 0.53% −0.1pp

Gross Margin 2.69% +0.4pp

SG&A / Revenue 1.93% +0.1pp

TTM YoY · 2025Q1 -> 2026Q1

Is capital being used efficiently?

Evaluate capital, asset, and working-capital efficiency.

Is capital being deployed efficiently?

ROIC stands at 2.91%, broadly flat versus the same period. That translates to 2.91 in after-tax operating profit for every 100 units of operating capital. NOPAT margin steady, but capital turnover rose 1.10x, while invested capital expanded strongly by 212bn — the two factors are offsetting each other, keeping overall ROIC nearly unchanged.

Overall ROIC is flat while internal components are moving — watch which side becomes dominant in coming periods.

Watchpoints

ROIC remains low

ROIC is currently 2.91% — below the typical cost-of-capital threshold; worth tracking whether upcoming periods can rise above this level.

CAPITAL EFFICIENCY TREND

ROIC 2.91% +0.0pp

NOPAT Margin 0.52% −0.1pp

Capital Turnover 5.62x +1.10x

Average Invested Capital 1,230.4bn +211.6bn

Balance Sheet

Leverage is very high, with clear pressure on the capital structure — liabilities at 3.16x equity, net debt at 2.04x equity.

Inventory ended the period at 775.0bn, roughly 44.9% of total assets.

Over the last 12 months, working capital absorbed 177.9bn of cash, mainly because of higher receivables and higher inventories. Part of that drag was offset by higher payables.

Working Capital Drivers

Receivables increased → lower CFO: −136.4bn

Inventories increased → lower CFO: −62.2bn

Payables increased → higher CFO: +20.7bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 6.9 days versus the same period last year. The main moves came from DIO fell 3.2 days, DSO fell 6.4 days, and DPO fell 2.8 days.

Improvement comes mainly from faster receivables collection — reflects the quality of receivables management.

Working Capital Efficiency

Receivables 30.8 days −6.4 days

Inventory 34.3 days −3.2 days

Payables 10.0 days −2.8 days

Cash Conversion Cycle 55.1 days −6.9 days

Is financial risk significant?

High leverage combined with negative operating cash flow — this area needs close monitoring.

Leverage & Liquidity

Leverage warrants monitoring, with net debt / equity at 2.04x and interest coverage only at 0.95x.

At present, short-term debt accounts for 100.0% of total debt, cash equals 8.0% of debt, and total debt stands at 950.6bn.

Watchpoints

Net leverage is elevated

Net debt / equity stands at 2.04x, increasing balance-sheet pressure.

Interest coverage is thin

Interest coverage is 0.95x, leaving limited room to absorb financing costs.

Leverage and liquidity trend

Net Debt / Equity 2.04x +0.24x

Interest Coverage 0.95x −0.42x

Cash / Debt 8.0% +4.2pp

Short-term Debt / Total Debt 100.0% 0.0pp

CFO / NI -3.81x +13.66x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

High leverage combined with cash flow below reveals the actual liquidity pressure. Operating cash flow reached -0.7bn in 2025, against investing cash flow of -124.7bn.

Post-investment cash flow was negative +125.5bn. Financing cash flow was positive +94.0bn.

CFO / net income was -3.81x.

Track how much investment can be funded internally from operating cash flow.

Cash capex or FCF data is incomplete, so the cash-conversion view is only partial.

Cash Conversion

CFO TTM 139.0bn +385.2bn

Cash Capex — —

FCF TTM — —

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 capital efficiency remains weak remaining the main constraint, with ROIC at 2.9%. The next watchpoint is cash generation still needs confirmation. The main offsetting support comes from earnings conversion is confirmed, with CFO/NI at -3.81x.

Improvement: earnings conversion looks more confirmed, with CFO / net income at -3.81x.

Watchpoint: Cash generation still needs confirmation.

Key risk: Capital efficiency remains weak.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	5,765.9	4,236.0	3,120.7	3,414.3	3,830.6
Revenue Deductions	1.4	0.5	1.2	2.8	0.0
Net Revenue	5,764.5	4,235.5	3,119.5	3,411.5	3,830.6
Cost of Goods Sold	5,621.7	4,143.1	3,036.7	3,337.6	0.0
Gross Profit	142.8	92.3	82.9	73.8	251.8
Financial Income	44.9	37.0	36.0	26.0	18.9
Financial Expenses	36.0	28.7	32.4	36.4	-5.8
Interest Expense	33.5	21.1	21.8	17.7	-10.9
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	-0.0
Selling Expenses	78.7	51.6	45.9	44.4	-56.3
General and Administrative Expenses	32.1	20.1	15.7	15.1	-32.5
Operating Profit	41.0	28.9	24.8	4.0	176.1
Other Income	0.7	1.1	1.0	1.6	0.0
Other Expenses	0.7	0.3	0.0	0.0	0.0
Other Profit	0.1	0.9	1.0	1.5	1.7
Profit Before Tax	41.0	29.8	25.8	5.5	177.8
Current Income Tax Expense	9.8	4.2	4.7	2.4	-35.7
Deferred Income Tax Expense	—	0.0	0.0	0.0	0.0
Net Income	31.2	25.6	21.1	3.1	142.1
Non-controlling Interest	—	0.0	0.0	0.0	-0.0
Profit Attributable to Parent	31.2	25.6	21.1	3.1	142.1
Earnings per Share	1,143.59	937.00	775.00	115.00	6,767.00
Diluted EPS	1,143.59	936.57	774.70	114.55	6,766.27

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	1,627.3	1,253.7	1,167.0	1,023.6	1,136.2
I. Cash and cash equivalents	65.2	96.6	19.9	51.3	20.8
1. Cash	65.2	96.6	19.9	41.3	0.0
2. Cash equivalents	—	0.0	0.0	10.0	0.0
II. Short-term financial investments	310.0	172.5	427.3	9.5	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	310.0	172.5	427.3	9.5	0.0
III. Short-term receivables	436.7	443.7	350.7	334.0	286.5
1. Short-term trade accounts receivable	476.4	470.6	339.5	350.0	0.0
2. Short-term prepayments to suppliers	1.3	8.5	54.5	25.7	0.0
3. Short-term inter-company receivables	—	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	0.0	0.0	0.0	0.0
5. Short-term loan receivables	—	0.0	0.0	0.0	0.0
6. Other short-term receivables	12.4	17.6	11.7	15.9	0.0
7. Provision for short-term doubtful debts (*)	-53.4	-53.0	-55.0	-57.6	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	775.0	509.5	344.8	594.8	814.2
1. Inventories	813.3	548.4	384.5	689.6	0.0
2. Provision for decline in value of inventories	-38.3	-38.9	-39.8	-94.8	0.0
V. Other short-term assets	40.3	31.5	24.3	33.9	5.2
1. Short-term prepayments	0.5	0.4	0.4	0.4	0.0
2. Value added tax to be reclaimed	39.4	22.2	10.8	15.8	0.0
3. Taxes and other receivables from state authorities	0.3	8.9	13.1	17.7	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)	99.4	105.8	112.9	121.3	125.4
I. Long-term receivables	0.1	0.1	0.2	0.2	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	0.1
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	0.1	0.1	0.2	0.2	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	20.9	24.7	29.1	29.9	25.0
1. Tangible fixed assets	11.9	15.4	19.7	20.3	15.1
- Cost	79.6	79.6	79.6	75.8	0.0
- Accumulated depreciation	-67.7	-64.1	-59.9	-55.6	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	9.1	9.3	9.5	9.6	9.8
- Cost	12.3	12.3	12.3	12.3	0.0
- Accumulated depreciation	-3.3	-3.1	-2.9	-2.7	0.0
III. Investment properties	61.5	65.1	68.7	72.3	77.1
- Cost	145.5	145.5	145.5	145.5	0.0
- Accumulated depreciation	-84.0	-80.4	-76.8	-73.2	0.0
IV. Long-term assets in progress	0.0	0.0	0.0	0.7	0.2
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	0.0	0.0	0.0	0.7	0.0
V. Long-term financial investments	16.9	15.9	14.9	18.3	23.0
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	37.0	37.0	37.0	37.0	0.0
4. Provision for diminution in value of long-term investments	-20.1	-21.1	-22.1	-18.7	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	—	0.0	0.0	0.0	0.0
1. Long-term prepayments	—	0.0	0.0	0.0	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	0.0
5. Goodwill	—	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	1,726.7	1,359.5	1,279.9	1,144.9	1,261.6
A. LIABILITIES (300=210+330)	1,311.8	955.3	876.2	762.3	777.4
I. Short -term liabilities	1,283.2	931.1	850.7	739.0	754.5
1. Short-term trade accounts payable	353.3	168.8	141.2	203.3	58.8
2. Short-term advances from customers	43.0	2.4	2.8	1.7	8.1
3. Taxes and other payables to state authorities	1.2	0.2	0.1	0.1	0.0
4. Payable to employees	19.7	11.6	16.9	8.6	0.0
5. Short-term acrrued expenses	5.7	3.2	3.8	2.3	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	1.8	1.8	1.8	1.8	0.1
9. Other short-term payables	3.0	3.0	150.6	47.8	0.0
10. Short-term borrowings and financial leases	854.4	738.6	530.7	468.2	193.8
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	1.0	1.6	3.1	5.2	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	28.7	24.2	25.5	23.3	22.9
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	28.7	24.2	25.5	23.3	0.0
8. Long-term borrowings and financial leases	—	0.0	0.0	0.0	0.0
9. Convertible bonds	—	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	0.0	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)	414.9	404.2	403.7	382.5	484.2
I. Owner's equity	414.9	404.2	403.7	382.5	0.0
1. Owner's capital	273.0	273.0	273.0	273.0	484.2
- Common stock with voting right	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	210,000,000,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	37.2	37.2	37.2	37.2	37.2
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	11.1	11.1	11.1	7.6	0.0
5. Treasury shares	—	0.00	0.00	0.00	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	51.3	51.3	51.3	54.8	0.0
9. Fund to support corporate restructuring	—	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	1.8	1.8	1.8	1.8	0.0
11. Undistributed earnings after tax	40.4	29.8	29.3	8.1	172.8
- Accumulated retained earning at the end of the previous period	9.2	4.2	8.1	5.0	30.7
- Undistributed earnings in this period	31.2	25.6	21.1	3.1	142.1
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)	1,726.7	1,359.5	1,279.9	1,144.9	1,261.6

Item	2025	2024	2023	2022	2021
Profit Before Tax	41.0	29.8	25.8	5.5	177.8
Depreciation of Fixed Assets and Investment Property	7.4	8.0	8.3	8.6	8.9
Provision (Increase)/Reversal	5.8	-3.9	-54.3	40.4	0.0
FX Gain/Loss from Revaluation of Monetary Items	-0.2	0.0	-1.6	-0.9	0.0
Gain/Loss from Investment Activities	-14.1	-21.0	-14.4	-2.9	0.0
Interest Expense	33.5	21.1	21.8	17.7	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	73.5	34.0	-14.4	68.4	238.8
Increase/(Decrease) in Receivables	-9.8	-103.8	-3.4	-65.7	0.0
Increase/(Decrease) in Inventory	-264.9	-163.9	305.1	178.4	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	239.2	-127.6	55.3	-289.7	0.0
Increase/(Decrease) in Prepaid Expenses	-0.2	0.1	-0.0	-0.1	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-32.9	-21.0	-21.9	-17.3	0.0
Corporate Income Tax Paid	-1.3	-0.1	-0.1	-10.0	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-4.5	-4.6	-2.1	-7.3	0.0
Net Cash Flow from Operating Activities	-0.7	-386.8	318.5	-143.3	17.6
Payments for Fixed Assets and Other Long-term Assets	-0.0	0.0	-3.2	-9.1	-0.5
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.0	0.1	0.5	0.0
Loans and Purchases of Debt Instruments	-554.0	-545.5	-597.3	-9.0	-34.5
Receipts from Loan Repayments and Sale of Debt Instruments	416.5	800.3	179.5	9.0	34.5
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	12.8	22.6	8.6	2.4	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	-124.7	277.4	-412.3	-6.2	1.9
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	5,260.2	4,308.9	2,780.8	3,546.9	3,836.8
Repayment of Borrowings	-5,144.4	-4,100.9	-2,718.3	-3,272.4	-3,813.7
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-21.8	-21.8	-0.1	-94.5	-35.7
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	94.0	186.1	62.4	180.0	-12.6
Net Cash Flow During the Period	-31.5	76.6	-31.4	30.5	10.6
Cash and Cash Equivalents at Beginning of Period	96.6	19.9	51.3	20.8	13.9
FX Difference from Revaluation	0.2	0.0	0.0	0.0	-0.0
Cash and Cash Equivalents at End of Period	65.2	96.6	19.9	51.3	20.8

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	2,344.0	1,746.3	1,402.7	1,422.8	1,194.1	1,258.2	1,075.1	1,074.1	828.5	773.3	691.0	764.1
Revenue Deductions	—	0.6	0.2	0.4	0.2	0.4	0.0	0.1	0.0	1.1	0.0	0.0
Net Revenue	2,344.0	1,745.7	1,402.6	1,422.4	1,193.9	1,257.8	1,075.1	1,074.0	828.5	772.2	691.0	764.1
Cost of Goods Sold	2,272.1	1,701.2	1,377.3	1,378.2	1,165.0	1,229.6	1,052.3	1,049.2	812.3	745.9	677.0	740.2
Gross Profit	72.0	44.5	25.2	44.2	28.9	28.3	22.8	24.8	16.2	26.3	14.0	23.8
Financial Income	11.6	14.2	10.3	9.4	11.1	9.2	8.8	8.8	10.3	13.7	9.1	6.5
Financial Expenses	19.4	13.1	7.3	10.5	5.1	6.3	2.6	11.2	8.5	5.1	6.7	10.2
Interest Expense	17.7	9.9	7.8	8.3	7.5	6.7	4.8	3.9	5.7	3.7	4.6	4.5
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	37.2	22.5	14.7	24.3	17.2	14.9	16.4	11.2	9.0	14.7	9.8	12.4
General and Administrative Expenses	10.4	12.0	5.0	7.5	7.7	6.1	4.7	4.8	4.4	4.6	3.5	4.6
Operating Profit	16.6	11.2	8.6	11.3	9.9	10.2	7.8	6.4	4.5	15.6	3.0	3.2
Other Income	0.9	0.4	0.1	0.1	0.2	0.1	0.1	0.8	0.2	0.4	0.0	0.4
Other Expenses	0.0	0.7	0.0	—	0.0	0.0	0.1	0.1	0.0	0.0	0.0	0.0
Other Profit	0.9	-0.3	0.1	0.1	0.2	0.1	-0.0	0.7	0.1	0.4	0.0	0.4
Profit Before Tax	17.5	10.9	8.7	11.4	10.1	10.3	7.8	7.1	4.7	15.9	3.0	3.6
Current Income Tax Expense	4.3	3.6	1.8	2.3	2.1	0.0	1.6	1.5	1.1	2.1	0.9	0.8
Deferred Income Tax Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	13.2	7.3	6.9	9.0	8.0	10.2	6.2	5.6	3.6	13.8	2.0	2.8
Non-controlling Interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	13.2	7.3	6.9	9.0	8.0	10.2	6.2	5.6	3.6	13.8	2.0	2.8
Earnings per Share	482.00	269.00	253.00	331.00	292.00	374.00	227.00	205.00	132.00	507.00	74.00	101.00
Diluted EPS	482.42	268.98	252.54	331.09	292.35	374.15	227.31	205.18	132.11	506.84	74.26	100.85

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)	1,583.3	1,599.8	1,229.0	1,311.7	1,355.3	1,253.7	1,114.9	1,006.7	1,152.7	1,167.0	905.5	813.7
I. Cash and cash equivalents	75.7	65.2	60.3	37.5	28.8	96.6	39.5	10.7	57.1	19.9	20.5	13.4
1. Cash	75.7	65.2	60.3	37.5	28.8	96.6	39.5	10.7	57.1	19.9	20.5	13.4
2. Cash equivalents	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Short-term financial investments	170.0	310.0	302.0	259.0	187.0	172.5	370.0	363.0	437.7	427.3	256.1	180.0
1. Available for sale securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Held to maturity investments	170.0	310.0	302.0	259.0	187.0	172.5	370.0	363.0	437.7	427.3	256.1	180.0
III. Short-term receivables	688.7	436.5	547.3	466.8	548.8	443.7	407.8	384.3	366.6	350.6	352.0	362.2
1. Short-term trade accounts receivable	586.2	476.4	526.5	493.8	581.8	470.6	432.4	387.1	357.1	339.5	389.3	405.0
2. Short-term prepayments to suppliers	142.7	1.5	57.3	9.0	6.5	8.5	10.5	42.5	52.1	54.5	0.7	0.3
3. Short-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Short-term loan receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other short-term receivables	12.7	12.1	15.0	16.3	13.6	17.6	16.5	7.9	11.8	11.6	16.9	12.7
7. Provision for short-term doubtful debts (*)	-52.9	-53.4	-51.5	-52.3	-53.1	-53.0	-51.6	-53.2	-54.4	-55.0	-54.9	-55.8
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	625.1	747.7	311.8	513.6	558.0	509.5	279.9	226.3	274.8	344.8	257.4	234.6
1. Inventories	663.4	786.0	357.7	551.5	601.3	548.6	315.7	265.0	323.7	384.5	313.3	298.9
2. Provision for decline in value of inventories	-38.3	-38.3	-45.9	-37.8	-43.3	-39.1	-35.9	-38.6	-48.9	-39.8	-55.9	-64.3
V. Other short-term assets	23.7	40.3	7.7	34.8	32.8	31.5	17.7	22.4	16.5	24.4	19.5	23.4
1. Short-term prepayments	1.0	0.5	4.7	9.3	0.6	0.4	3.7	7.3	0.6	0.4	3.6	7.0
2. Value added tax to be reclaimed	17.8	39.4	0.2	21.0	25.3	22.2	5.0	4.5	3.9	10.8	0.6	0.3
3. Taxes and other receivables from state authorities	4.9	0.3	2.7	4.5	6.8	8.9	9.0	10.5	12.0	13.2	15.3	16.1
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)	96.6	99.4	101.1	102.4	106.4	105.9	107.4	107.2	113.7	113.0	114.1	115.9
I. Long-term receivables	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.2	0.2	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	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.2	0.2	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	20.1	20.9	21.8	22.7	23.7	24.7	25.8	26.9	28.0	29.1	30.3	31.5
1. Tangible fixed assets	11.1	11.9	12.7	13.6	14.5	15.4	16.5	17.5	18.6	19.7	20.8	21.9
- Cost	79.6	—	—	—	—	79.6	79.6	79.6	79.6	79.6	79.7	79.7
- Accumulated depreciation	-68.5	—	—	—	—	-64.1	-63.1	-62.0	-61.0	-59.9	-58.9	-57.8
2. Financial leased fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	9.0	9.1	9.1	9.2	9.2	9.3	9.3	9.4	9.4	9.5	9.5	9.6
- Cost	12.3	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-3.3	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	61.1	61.5	62.4	63.3	64.2	65.1	66.0	66.9	67.8	68.7	69.6	70.5
- Cost	146.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-84.9	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.4	0.3
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	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.4	0.3
V. Long-term financial investments	15.4	16.9	16.9	16.3	18.4	16.0	15.6	13.3	17.8	14.9	13.6	13.5
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	37.0	37.0	37.0	37.0	37.0	37.0	37.0	37.0	37.0	37.0	37.0	37.0
4. Provision for diminution in value of long-term investments	-21.6	-20.1	-20.1	-20.7	-18.6	-21.0	-21.4	-23.7	-19.2	-22.1	-23.4	-23.5
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Long-term prepayments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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)	1,679.8	1,699.2	1,330.2	1,414.1	1,461.7	1,359.6	1,222.3	1,113.9	1,266.3	1,280.0	1,019.6	929.6
A. LIABILITIES (300=210+330)	1,251.8	1,284.3	927.7	1,018.5	1,049.5	955.3	828.2	726.0	859.0	876.3	629.8	541.8
I. Short -term liabilities	1,219.8	1,255.7	901.7	993.1	1,024.2	931.1	804.0	701.3	833.8	850.7	604.4	517.4
1. Short-term trade accounts payable	156.4	321.9	156.6	133.4	214.1	168.8	157.8	143.7	101.7	141.2	177.5	154.8
2. Short-term advances from customers	73.1	43.0	32.2	30.4	8.5	2.4	6.5	4.4	6.3	2.8	2.1	0.7
3. Dividends and profits payable	0.1	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	3.5	1.2	9.0	9.3	0.2	0.2	7.3	6.9	0.7	0.1	24.7	25.6
4. Payable to employees	19.9	19.6	19.2	20.7	10.1	11.6	17.6	11.5	4.9	16.9	11.8	9.1
5. Short-term acrrued expenses	10.9	9.6	8.1	11.9	12.3	3.2	5.3	5.3	7.9	3.8	3.8	2.5
6. Short-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	0.0	1.8	0.0	1.8	0.0	1.8	0.0	1.8	0.0	1.8	0.1	1.8
9. Other short-term payables	4.6	3.0	3.1	3.2	4.2	3.0	3.3	24.9	181.9	150.6	93.1	59.6
10. Short-term borrowings and financial leases	950.6	854.4	669.8	778.5	774.4	738.6	603.4	499.9	529.6	530.7	287.4	259.1
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	0.7	1.0	3.5	3.9	0.4	1.6	2.7	3.0	0.7	3.1	4.1	4.2
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	32.0	28.7	26.0	25.4	25.2	24.2	24.2	24.7	25.2	25.6	25.3	24.4
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	32.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Other long-term liabilities	—	28.7	26.0	25.4	25.2	24.2	24.2	24.7	25.2	25.6	25.3	24.4
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)	428.0	414.9	402.5	395.6	412.2	404.3	394.1	387.9	407.3	403.7	389.8	387.8
I. Owner's equity	428.0	414.9	402.5	395.6	412.2	404.3	394.1	387.9	407.3	403.7	389.8	387.8
1. Owner's capital	273.0	273.0	273.0	273.0	273.0	273.0	273.0	273.0	273.0	273.0	273.0	273.0
- Common stock with voting right	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00	272,999,990,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	37.2	37.2	37.2	37.2	37.2	37.2	37.2	37.2	37.2	37.2	37.2	37.2
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	11.1	11.1	11.1	11.1	11.1	11.1	11.1	11.1	11.1	11.1	11.1	11.1
5. Treasury shares	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
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	51.3	51.3	51.3	51.3	51.3	51.3	51.3	51.3	51.3	51.3	51.3	51.3
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	1.8	1.8	1.8	1.8	1.8	1.8	1.8	1.8	1.8	1.8	1.8	1.8
11. Undistributed earnings after tax	53.6	40.5	28.0	21.2	37.8	29.9	19.7	13.5	32.9	29.2	15.4	13.4
- Accumulated retained earning at the end of the previous period	40.4	9.2	4.1	4.1	29.8	4.2	4.2	4.2	29.3	8.1	8.1	8.1
- Undistributed earnings in this period	13.2	31.3	23.9	17.0	8.0	25.6	15.4	9.2	3.6	21.1	7.3	5.3
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)	1,679.8	1,699.2	1,330.2	1,414.1	1,461.7	1,359.6	1,222.3	1,113.9	1,266.3	1,280.0	1,019.6	929.6

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	17.5	10.9	8.7	11.4	10.1	10.3	7.8	7.1	4.7	16.0	3.0	3.6
Depreciation of Fixed Assets and Investment Property	1.8	1.8	1.8	1.9	1.9	2.0	2.0	2.0	2.1	2.1	2.1	2.1
Provision (Increase)/Reversal	1.0	1.3	6.6	-4.2	2.1	4.2	-6.6	-6.9	5.6	-17.3	-9.5	-20.9
FX Gain/Loss from Revaluation of Monetary Items	-0.3	0.1	0.0	-0.0	-0.2	0.1	-0.1	-2.1	2.2	-2.6	0.9	0.6
Gain/Loss from Investment Activities	-4.1	-4.5	-4.0	-3.0	-2.7	-4.9	-5.0	-4.7	-6.3	-5.4	-5.2	-2.9
Interest Expense	17.7	9.9	7.8	8.3	7.5	6.7	4.8	3.9	5.7	3.7	4.6	4.5
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	33.6	19.5	21.0	14.4	18.6	18.3	2.8	-0.9	13.9	-3.6	-4.1	-13.1
Increase/(Decrease) in Receivables	-237.0	71.1	-60.1	89.6	-110.3	-55.2	-21.1	-20.5	-7.0	-8.9	13.1	15.2
Increase/(Decrease) in Inventory	149.9	-455.6	193.8	49.8	-52.8	-232.9	-50.8	58.7	60.9	-71.2	-14.4	140.7
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-158.9	199.9	18.3	-38.5	59.6	-7.3	20.8	-125.2	-15.9	6.6	58.8	67.7
Increase/(Decrease) in Prepaid Expenses	-0.5	4.1	4.6	-8.7	-0.2	3.3	3.7	-6.8	-0.1	3.2	3.3	-6.3
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-17.3	-9.2	-7.9	-8.4	-7.4	-6.5	-4.7	-3.9	-5.8	-3.6	-4.6	-4.6
Corporate Income Tax Paid	-1.7	-1.3	—	—	—	0.0	-0.1	0.0	0.0	0.0	-0.1	0.0
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-0.3	-2.5	-0.4	-0.3	-1.3	-1.0	-0.3	-0.9	-2.4	-1.0	-0.1	-0.8
Net Cash Flow from Operating Activities	-232.1	-174.0	169.2	97.9	-93.8	-281.3	-49.7	-99.4	43.5	-78.4	51.9	198.7
Payments for Fixed Assets and Other Long-term Assets	-0.5	-0.0	—	—	—	0.0	0.0	0.0	0.0	0.4	-0.1	-0.2
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.1	0.0	0.0
Loans and Purchases of Debt Instruments	-70.0	-90.0	-212.5	-82.0	-169.5	-12.5	-175.0	-210.0	-148.0	-284.7	-137.6	-97.5
Receipts from Loan Repayments and Sale of Debt Instruments	210.0	82.0	169.5	10.0	155.0	210.0	168.0	284.7	137.6	113.5	61.5	4.5
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	6.7	2.5	5.2	0.5	4.6	5.7	3.7	8.1	5.0	5.2	2.9	0.4
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	146.2	-5.6	-37.8	-71.5	-9.9	203.2	-3.3	82.8	-5.4	-165.4	-73.2	-92.8
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	1,921.3	1,698.9	1,154.0	1,336.5	1,070.9	1,369.3	1,068.6	1,104.2	766.8	820.4	672.0	582.1
Repayment of Borrowings	-1,825.1	-1,514.3	-1,262.6	-1,332.4	-1,035.1	-1,234.0	-965.1	-1,133.9	-767.9	-577.1	-643.7	-683.1
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	-0.0	0.0	0.0	-21.8	-0.0	-0.0	-21.8	0.0	0.0	0.0	0.0	-0.1
Other Financing Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Financing Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	96.2	184.6	-108.6	-17.8	35.8	135.2	81.6	-29.6	-1.1	243.3	28.3	-101.1
Net Cash Flow During the Period	10.2	5.0	22.8	8.7	-68.0	57.1	28.6	-46.2	37.1	-0.5	7.0	4.8
Cash and Cash Equivalents at Beginning of Period	65.2	60.3	37.5	28.8	96.6	19.9	19.9	19.9	19.9	51.3	51.3	51.3
FX Difference from Revaluation	0.3	0.2	0.2	0.3	0.2	-0.1	0.1	-0.2	0.1	0.0	0.0	-0.0
Cash and Cash Equivalents at End of Period	75.7	65.2	60.3	37.5	28.8	96.6	39.5	10.7	57.1	19.9	20.5	13.4

Explore Other Stocks In The Same Sector

HPG, HSG, TVN, GDA, VGS, SMC, NKG, TNI, HMG, VGL, TNS, PAS, VLS, MEL, GCB, KKC, TDS, DHM, TLH, ITQ, TNB, TTS, VDT, CK8, SDK, TIS, BCA, VCA, KVC, MHL, HLA, DTL, CBI, VPG, POM

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

HMC

What Is Changing

Drivers of HMC'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