HTV

Listed Company · HOSE

Price

11,200

Latest close

02 Apr 2026

P/E 9.2x

EPS (TTM) 1,211

ROE (TTM) 4.7%

P/B 0.4x

BVPS (Latest) 25,833

ROA (TTM) 4.1%

What Is Changing

HTV has not yet shown a broad-based top-line recovery. Revenue posted -1.9% YoY, but net margin reached 5.92% with an additional +2.6pp improvement versus the prior year. The next question is whether current profit momentum can hold through the next cycle.

Net Margin expanded consistently from 2.75% in 2023 to 5.92% in 2025.
Net Income recovered 74.1% to VND 16.2bn in 2025.

Metric	2025	2024	2023	2022	2021
Revenue	273.1	278.3	299.7	351.3	297.8
Growth	-2%	-7%	-15%	+18%	—
Net Income	16.2	9.3	8.2	17.7	17.1
Net Margin	5.92%	3.34%	2.75%	5.04%	5.75%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Revenue	72.1	70.2	70.6	60.2	63.2	76.4	81.8	56.9	71.3	71.6	83.6	73.2
Growth	+3%	-1%	+17%	-5%	-17%	-7%	+44%	-20%	-0%	-14%	+14%	—
Net Income	2.6	4.4	5.6	3.6	2.7	2.8	3.9	-0.1	2.4	4.5	2.3	-1.0
Net Margin	3.60%	6.29%	7.88%	5.97%	4.27%	3.64%	4.75%	-0.13%	3.39%	6.28%	2.81%	-1.40%

Financial Statements

Profitability

Net margin reached 5.92% while Revenue posted -1.9% YoY.

Balance Sheet

Inventory stood at 2.8bn, liabilities at 47.7bn, and equity at 338.5bn.

Cash Flow

Operating cash flow was 8.5bn in 2024, while investing cash flow was 16.3bn.

Financing cash flow: 2.6bn.

Item	2025	2024	2023	2022	2021
Revenue	273.1	278.3	299.7	351.3	297.8
Revenue Deductions	0.0	0.0	0.0	0.0	0.0
Net Revenue	273.1	278.3	299.7	351.3	297.8
Cost of Goods Sold	232.9	251.0	278.2	323.7	0.0
Gross Profit	40.1	27.3	21.6	27.6	30.8
Financial Income	10.9	9.9	14.7	15.3	9.6
Financial Expenses	0.0	0.0	0.0	0.1	2.1
Interest Expense	0.0	0.0	0.0	0.0	-0.0
Share of Associates and Joint Ventures	0.0	0.0	0.0	0.0	-0.0
Selling Expenses	0.0	0.0	0.0	0.0	-0.0
General and Administrative Expenses	32.6	31.9	30.9	26.3	-22.6
Operating Profit	18.5	5.3	5.4	16.7	19.8
Other Income	2.8	7.2	6.5	6.4	0.0
Other Expenses	0.6	0.4	1.1	0.8	0.0
Other Profit	2.2	6.9	5.4	5.6	1.4
Profit Before Tax	20.7	12.1	10.8	22.2	21.2
Current Income Tax Expense	4.5	2.9	2.6	4.5	-4.1
Deferred Income Tax Expense	0.0	0.0	0.0	0.0	0.0
Net Income	16.2	9.3	8.2	17.7	17.1
Non-controlling Interest	0.3	0.1	0.2	0.2	0.2
Profit Attributable to Parent	15.9	9.2	8.0	17.5	17.0
Earnings per Share	1,211.00	700.00	612.00	1,339.00	1,296.00
Diluted EPS	1,211.00	700.00	612.00	1,339.00	1,295.85

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	367.6	367.1	365.5	378.1	349.7
I. Cash and cash equivalents	31.1	34.5	7.2	10.5	13.4
1. Cash	13.2	17.4	7.2	10.5	0.0
2. Cash equivalents	18.0	17.2	0.0	0.0	0.0
II. Short-term financial investments	222.5	194.8	199.0	199.0	0.0
1. Available for sale securities	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
3. Held to maturity investments	222.5	194.8	199.0	199.0	0.0
III. Short-term receivables	110.8	134.4	158.1	167.1	139.1
1. Short-term trade accounts receivable	109.1	130.6	156.2	159.6	0.0
2. Short-term prepayments to suppliers	0.5	0.5	0.6	2.6	0.0
3. Short-term inter-company receivables	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
5. Short-term loan receivables	6.2	6.4	0.0	0.0	0.0
6. Other short-term receivables	2.3	3.8	6.8	7.0	0.0
7. Provision for short-term doubtful debts (*)	-7.3	-6.9	-5.6	-2.1	0.0
8. Assets awaiting resolution	0.0	0.0	0.0	0.0	0.0
IV. Inventories	2.8	2.7	1.2	1.5	2.5
1. Inventories	2.8	2.7	1.2	1.5	0.0
2. Provision for decline in value of inventories	0.0	0.0	0.0	0.0	0.0
V. Other short-term assets	0.5	0.5	0.0	0.1	0.7
1. Short-term prepayments	0.0	0.0	0.0	0.0	0.0
2. Value added tax to be reclaimed	0.0	0.5	0.0	0.1	0.0
3. Taxes and other receivables from state authorities	0.5	0.0	0.0	0.0	0.0
4. Government bonds	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
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	18.6	30.1	42.1	55.5	71.7
I. Long-term receivables	0.0	0.0	0.0	0.0	0.0
1. Long-term trade receivables	0.0	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	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
4. Long-term inter-company receivables	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
6. Other long-term receivables	0.0	0.0	0.0	0.0	0.0
7. Provision for long-term doubtful debts	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	18.3	30.1	42.1	55.5	71.7
1. Tangible fixed assets	18.2	30.1	42.1	55.5	71.7
- Cost	232.1	236.7	249.2	257.0	0.0
- Accumulated depreciation	-213.9	-206.7	-207.1	-201.4	0.0
2. Financial leased fixed assets	0.0	0.0	0.0	0.0	0.0
- Cost	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	0.2	0.0	0.0	0.0	0.0
- Cost	0.2	0.0	0.0	0.0	0.0
- Accumulated depreciation	-0.0	0.0	0.0	0.0	0.0
III. Investment properties	0.0	0.0	0.0	0.0	0.0
- Cost	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	0.2	0.0	0.0	0.0	0.0
1. Long-term production in progress	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	0.2	0.0	0.0	0.0	0.0
V. Long-term financial investments	0.0	0.0	0.0	0.0	0.0
1. Investments in subsidiaries	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
3. Investments in other entities	0.0	0.0	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	0.0	0.0	0.0	0.0	0.0
5. Held to maturity investments	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
VI. Other long-term assets	0.0	0.0	0.0	0.0	0.0
1. Long-term prepayments	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
3. Long-term equipment, supplies, spare parts	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
5. Goodwill	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	0.0	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	386.2	397.2	407.5	433.7	421.4
A. LIABILITIES (300=210+330)	47.7	65.8	82.3	99.5	88.5
I. Short -term liabilities	47.7	65.8	82.3	99.5	88.5
1. Short-term trade accounts payable	30.1	45.9	49.9	66.1	57.5
2. Short-term advances from customers	0.0	0.0	0.1	0.4	0.2
3. Taxes and other payables to state authorities	1.9	1.6	1.7	1.2	0.0
4. Payable to employees	11.9	14.8	21.6	21.2	0.0
5. Short-term acrrued expenses	1.5	0.4	4.1	4.9	0.0
6. Short-term inter-company payables	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
8. Short-term unearned revenue	0.0	0.0	0.0	0.0	0.0
9. Other short-term payables	1.0	1.0	0.9	3.1	0.0
10. Short-term borrowings and financial leases	0.0	0.0	0.0	0.0	0.0
11. Provision for short-term liabilities	0.0	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	1.4	2.2	4.0	2.6	0.0
13. Price stabilization fund	0.0	0.0	0.0	0.0	0.0
14. Government bonds	0.0	0.0	0.0	0.0	0.0
II. Long-term liabilities	0.0	0.0	0.0	0.0	0.0
1. Long-term trade payables	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
3. Long-term acrrued expenses	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
5. Long-term inter-company payables	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
7. Other long-term liabilities	0.0	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	0.0	0.0	0.0	0.0	0.0
9. Convertible bonds	0.0	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	0.0	0.0	0.0	0.0	0.0
11. Deferred income tax liabilities	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
13. Fund for technology development	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
B. OWNER'S EQUITY (400=410+430)	338.5	331.3	325.2	334.1	333.0
I. Owner's equity	338.5	331.3	325.2	334.1	0.0
1. Owner's capital	131.0	131.0	131.0	131.0	333.0
- Common stock with voting right	131.0	131.0	131.0	131.0	131.0
- Preferred stock	0.0	0.0	0.0	0.0	0.0
2. Share premium	53.1	53.1	53.1	53.1	53.1
3. Convertible bond option	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
5. Treasury shares	0.0	0.0	0.0	0.0	0.0
6. Assets revaluation differences	0.0	0.0	0.0	0.0	0.0
7. Foreign exchange differences	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	127.2	127.2	127.2	127.2	0.0
9. Fund to support corporate restructuring	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
11. Undistributed earnings after tax	18.5	11.6	12.1	21.3	20.5
- Accumulated retained earning at the end of the previous period	2.6	2.4	4.1	3.8	3.5
- Undistributed earnings in this period	15.9	9.2	8.0	17.5	17.0
12. Reserves for investment in construction	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	8.7	8.4	1.7	1.5	1.2
14. Financial reserves	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
1. Subsidized not-for-profit funds	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
C. MINORITY'S INTEREST	0.0	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	386.2	397.2	407.5	433.7	421.4

Item	2024	2023	2022	2021	2020
Profit Before Tax	12.1	10.8	22.2	21.2	33.2
Depreciation of Fixed Assets and Investment Property	12.1	13.5	16.2	20.7	22.3
Provision (Increase)/Reversal	1.3	3.5	-0.8	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	0.0	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-16.3	-20.5	-15.1	0.0	0.0
Interest Expense	0.0	0.0	0.0	0.0	0.0
Gain/Loss on Disposal of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Interest Income and Dividends	0.0	0.0	0.0	0.0	0.0
Amortization of Goodwill	0.0	0.0	0.0	0.0	0.0
Other Adjustments	0.0	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	9.3	7.3	22.6	32.6	42.1
Increase/(Decrease) in Receivables	25.9	7.5	-25.5	0.0	0.0
Increase/(Decrease) in Inventory	-1.6	0.4	1.0	0.0	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-14.9	-18.8	14.8	0.0	0.0
Increase/(Decrease) in Prepaid Expenses	0.0	0.0	0.0	0.0	0.0
Changes in Trading Securities	0.0	0.0	21.0	0.0	0.0
Interest Paid	0.0	0.0	0.0	0.0	0.0
Corporate Income Tax Paid	-2.7	-2.3	-4.9	0.0	0.0
Other Operating Receipts	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-7.5	-8.1	-10.9	0.0	0.0
Net Cash Flow from Operating Activities	8.5	-14.0	18.2	48.2	18.2
Payments for Fixed Assets and Other Long-term Assets	-0.1	0.0	0.0	0.0	-2.1
Proceeds from Disposal of Fixed Assets and Long-term Assets	6.4	5.7	5.4	0.0	0.0
Loans and Purchases of Debt Instruments	-334.5	-271.5	-386.5	-229.0	-154.0
Receipts from Loan Repayments and Sale of Debt Instruments	332.3	271.5	360.5	177.3	150.9
Investments in Other Entities	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
Dividends and Interest Income Received	12.2	12.8	9.9	0.0	0.0
Increase/(Decrease) in Term Deposits	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
Other Investing Receipts	0.0	0.0	0.0	0.0	0.0
Other Investing Payments	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	16.3	18.5	-10.8	-42.2	4.7
Proceeds from Equity Issuance and Capital Contributions	6.5	0.1	0.1	0.1	0.0
Share Repurchases	0.0	0.0	0.0	0.0	0.0
Proceeds from Borrowings	0.0	0.0	0.0	0.0	0.0
Repayment of Borrowings	0.0	0.0	0.0	0.0	0.0
Repayment of Finance Leases	0.0	0.0	0.0	0.0	0.0
Dividends Paid	-3.9	-7.9	-10.5	-13.1	-15.7
Other Financing Receipts	0.0	0.0	0.0	0.0	0.0
Other Financing Payments	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	2.6	-7.8	-10.3	-13.0	-15.7
Net Cash Flow During the Period	27.4	-3.3	-3.0	-13.7	6.4
Cash and Cash Equivalents at Beginning of Period	7.2	10.5	13.4	20.4	13.2
FX Difference from Revaluation	0.0	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	34.5	7.2	10.5	13.4	20.4

Item	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Revenue	72.1	70.2	70.6	60.2	63.2	76.4	81.8	56.9	71.3	71.6	83.6	73.2
Revenue Deductions	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	72.1	70.2	70.6	60.2	63.2	76.4	81.8	56.9	71.3	71.6	83.6	73.2
Cost of Goods Sold	61.1	59.5	58.6	53.8	59.1	68.6	70.6	52.7	62.8	67.0	77.2	71.2
Gross Profit	11.0	10.7	12.0	6.4	4.1	7.7	11.3	4.2	8.5	4.7	6.4	2.0
Financial Income	3.1	2.4	2.7	2.7	2.3	2.5	2.3	2.8	3.3	3.5	4.0	3.9
Financial Expenses	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Expense	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Share of Associates and Joint Ventures	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
General and Administrative Expenses	9.9	7.8	7.8	7.0	9.0	7.1	8.8	7.1	9.9	5.9	8.0	7.1
Operating Profit	4.2	5.3	6.9	2.1	-2.7	3.1	4.8	-0.1	2.0	2.2	2.4	-1.2
Other Income	0.2	0.2	0.0	2.3	6.6	0.2	0.3	0.1	2.5	3.5	0.3	0.2
Other Expenses	0.5	0.1	0.0	0.0	0.1	-0.1	0.3	0.0	0.9	0.1	0.0	0.0
Other Profit	-0.4	0.2	0.0	2.3	6.5	0.3	0.0	0.0	1.6	3.4	0.3	0.2
Profit Before Tax	3.8	5.4	7.0	4.5	3.8	3.5	4.8	-0.0	3.5	5.6	2.7	-1.0
Current Income Tax Expense	1.2	1.0	1.4	0.9	1.1	0.7	0.9	0.0	1.1	1.1	0.3	0.0
Deferred Income Tax Expense	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	2.6	4.4	5.6	3.6	2.7	2.8	3.9	-0.1	2.4	4.5	2.3	-1.0
Non-controlling Interest	0.1	0.1	0.1	0.0	-0.0	0.1	-0.0	0.0	0.0	0.1	0.0	-0.0
Profit Attributable to Parent	2.5	4.3	5.4	3.6	2.7	2.7	3.9	-0.1	2.4	4.4	2.3	-1.0
Earnings per Share	194.00	329.00	416.00	272.00	206.00	206.00	297.00	-10.00	181.00	333.00	176.00	-78.00
Diluted EPS	194.03	329.21	415.35	272.06	205.87	205.72	296.86	-9.54	180.51	333.41	175.56	-77.99

Item	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	367.6	366.6	361.2	354.1	367.0	373.7	365.8	344.1	365.5	375.4	368.3	367.2
I. Cash and cash equivalents	31.1	33.8	33.1	30.6	34.5	27.8	11.8	6.9	7.2	13.9	7.1	8.8
1. Cash	13.2	16.0	15.6	13.4	17.4	10.8	11.8	6.9	7.2	13.9	7.1	8.8
2. Cash equivalents	18.0	17.8	17.6	17.2	17.2	17.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Short-term financial investments	222.5	224.4	216.7	197.9	194.8	198.6	219.4	205.8	199.0	204.8	187.0	182.3
1. Available for sale securities	0.0	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0	0.0
3. Held to maturity investments	222.5	224.4	216.7	197.9	194.8	198.6	219.4	205.8	199.0	204.8	187.0	182.3
III. Short-term receivables	110.8	105.3	109.0	122.8	134.4	145.2	132.3	129.7	158.1	154.3	171.3	174.6
1. Short-term trade accounts receivable	109.1	101.6	105.3	118.2	130.7	139.7	132.2	126.1	156.2	147.7	163.8	164.5
2. Short-term prepayments to suppliers	0.5	0.6	0.4	0.7	0.5	0.8	0.6	0.6	0.6	0.5	1.3	1.8
3. Short-term inter-company receivables	0.0	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0	0.0
5. Short-term loan receivables	6.2	6.4	6.4	6.4	6.4	6.4	0.0	0.0	0.0	0.0	0.0	0.0
6. Other short-term receivables	2.3	3.9	4.1	4.4	3.8	5.1	6.3	8.6	6.8	9.8	9.9	10.3
7. Provision for short-term doubtful debts (*)	-7.3	-7.1	-7.1	-6.9	-7.0	-6.8	-6.8	-5.6	-5.6	-3.8	-3.8	-2.1
8. Assets awaiting resolution	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	2.8	3.2	2.3	2.7	2.7	2.2	2.2	1.7	1.2	2.4	2.9	1.4
1. Inventories	2.8	3.2	2.3	2.7	2.7	2.2	2.2	1.7	1.2	2.4	2.9	1.4
2. Provision for decline in value of inventories	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
V. Other short-term assets	0.5	0.0	0.0	0.0	0.5	0.0	0.0	0.0	0.0	0.0	0.0	0.1
1. Short-term prepayments	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Value added tax to be reclaimed	0.0	0.0	0.0	0.0	0.5	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Taxes and other receivables from state authorities	0.5	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.1
4. Government bonds	0.0	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	18.6	21.2	24.1	27.1	30.1	33.0	36.0	39.0	42.1	45.2	48.6	52.1
I. Long-term receivables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Long-term trade receivables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	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	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	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	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	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Provision for long-term doubtful debts	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	18.3	21.1	24.1	27.1	30.1	33.0	36.0	39.0	42.1	45.2	48.6	52.1
1. Tangible fixed assets	18.2	21.1	24.1	27.1	30.1	33.0	36.0	39.0	42.1	45.2	48.6	52.1
- Cost	232.1	232.1	232.1	232.1	236.7	249.2	249.2	249.2	249.2	253.5	257.0	257.0
- Accumulated depreciation	-213.9	-211.0	-208.0	-205.0	-206.7	-216.2	-213.2	-210.2	-207.1	-208.3	-208.3	-204.9
2. Financial leased fixed assets	0.0	0.0	0.0	0.0	0.0	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	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	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	0.2	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0
- Accumulated depreciation	-0.0	0.0	0.0	0.0	0.0	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	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	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	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	0.2	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Long-term production in progress	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	0.2	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
V. Long-term financial investments	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Investments in subsidiaries	0.0	0.0	0.0	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0	0.0
3. Investments in other entities	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Held to maturity investments	0.0	0.0	0.0	0.0	0.0	0.0	0.0	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	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	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	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	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	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	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	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	0.0	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	386.2	387.7	385.3	381.2	397.1	406.7	401.8	383.2	407.5	420.6	416.9	419.3
A. LIABILITIES (300=210+330)	47.7	51.8	53.8	46.3	65.8	78.1	82.3	57.9	82.3	97.8	98.6	86.1
I. Short -term liabilities	47.7	51.8	53.8	46.3	65.8	78.1	82.3	57.9	82.3	97.8	98.6	86.1
1. Short-term trade accounts payable	30.1	27.3	23.8	26.3	45.9	44.6	45.2	38.2	49.9	42.5	50.8	59.6
2. Short-term advances from customers	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.9	0.1	0.7	0.7	0.3
3. Taxes and other payables to state authorities	1.9	5.6	4.9	1.8	1.5	4.8	2.5	1.0	1.7	6.1	3.3	1.1
4. Payable to employees	11.9	8.5	8.3	7.2	14.8	12.7	14.7	8.5	21.7	24.3	19.3	11.7
5. Short-term acrrued expenses	1.5	3.5	3.1	4.1	0.4	4.2	2.6	3.3	4.1	7.9	5.9	7.4
6. Short-term inter-company payables	0.0	0.0	0.0	0.0	0.0	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	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	0.0	0.0	0.0	0.0	0.0
9. Other short-term payables	1.0	1.2	5.1	1.0	1.0	1.0	5.0	0.9	0.9	8.8	8.9	1.3
10. Short-term borrowings and financial leases	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
11. Provision for short-term liabilities	0.0	4.1	6.2	5.8	0.0	8.0	7.4	4.1	0.0	3.2	2.4	4.1
12.. Bonus and welfare fund	1.4	1.7	2.6	0.1	2.2	2.7	5.0	1.1	4.0	4.4	7.3	0.6
13. Price stabilization fund	0.0	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0	0.0
II. Long-term liabilities	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	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	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	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	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	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	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	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	0.0	0.0
8. Long-term borrowings and financial leases	0.0	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
11. Deferred income tax liabilities	0.0	0.0	0.0	0.0	0.0	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	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	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	0.0	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	338.5	335.9	331.5	334.9	331.3	328.6	319.5	325.3	325.2	322.8	318.3	333.2
I. Owner's equity	338.5	335.9	331.5	334.9	331.3	328.6	319.5	325.3	325.2	322.8	318.3	333.2
1. Owner's capital	131.0	131.0	131.0	131.0	131.0	131.0	131.0	131.0	131.0	131.0	131.0	131.0
- Common stock with voting right	131.0	131.0	131.0	131.0	131.0	131.0	131.0	131.0	131.0	131.0	131.0	131.0
- Preferred stock	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Share premium	53.1	53.1	53.1	53.1	53.1	53.1	53.1	53.1	53.1	53.1	53.1	53.1
3. Convertible bond option	0.0	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0	0.0
5. Treasury shares	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Assets revaluation differences	0.0	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	127.2	127.2	127.2	127.2	127.2	127.2	127.2	127.2	127.2	127.2	127.2	127.2
9. Fund to support corporate restructuring	0.0	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	18.5	15.9	11.6	15.1	11.5	8.8	6.1	12.0	12.1	9.7	5.4	20.3
- Accumulated retained earning at the end of the previous period	2.6	2.6	2.6	11.6	2.4	2.4	2.4	12.1	4.1	4.1	4.1	21.3
- Undistributed earnings in this period	15.9	13.3	9.0	3.6	9.2	6.5	3.8	-0.1	8.0	5.6	1.3	-1.0
12. Reserves for investment in construction	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	8.7	8.6	8.5	8.4	8.4	8.4	2.0	2.0	1.7	1.7	1.6	1.5
14. Financial reserves	0.0	0.0	0.0	0.0	0.0	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	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	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	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	0.0	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	386.2	387.7	385.3	381.2	397.1	406.7	401.8	383.2	407.5	420.6	416.9	419.3

Item	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Profit Before Tax	3.8	5.4	7.0	4.5	3.8	3.5	4.8	-0.0	3.5	5.6	2.7	-1.0
Depreciation of Fixed Assets and Investment Property	3.0	3.0	3.0	3.0	3.0	3.0	3.0	3.0	3.1	3.4	3.4	3.5
Provision (Increase)/Reversal	-3.9	-2.0	0.6	5.8	-7.8	0.7	4.5	4.1	-1.4	0.8	-0.0	4.1
FX Gain/Loss from Revaluation of Monetary Items	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-3.1	-2.4	-2.7	-4.9	-8.6	-2.5	-2.3	-2.8	-5.8	-6.7	-4.0	-3.9
Interest Expense	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Gain/Loss on Disposal of Fixed Assets	0.0	0.0	0.0	0.0	0.0	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	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	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	0.0	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	-0.2	4.0	7.8	8.4	-9.6	4.7	10.0	4.2	-0.6	3.2	2.1	2.6
Increase/(Decrease) in Receivables	-7.1	3.6	13.2	12.8	9.6	-7.8	-5.2	29.3	-5.9	17.4	1.3	-5.3
Increase/(Decrease) in Inventory	0.4	-0.8	0.4	-0.0	-0.6	0.1	-0.5	-0.6	1.2	0.5	-1.5	0.1
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-0.9	3.8	-0.5	-23.0	-3.3	0.6	12.4	-24.5	-4.0	0.2	0.4	-15.4
Increase/(Decrease) in Prepaid Expenses	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Changes in Trading Securities	0.0	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0	0.0	0.0
Corporate Income Tax Paid	0.0	0.0	-0.1	-1.2	-1.6	0.0	0.0	-1.2	-1.1	-0.1	-1.0	0.0
Other Operating Receipts	0.0	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-0.3	-0.9	-2.6	-2.1	-0.5	-2.2	-1.8	-2.9	-0.5	-2.9	-2.7	-2.1
Net Cash Flow from Operating Activities	-8.2	9.8	18.2	-5.1	-6.0	-4.7	14.8	4.4	-10.9	18.4	-1.4	-20.1
Payments for Fixed Assets and Other Long-term Assets	-0.4	-0.1	0.0	-0.1	-0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.0	0.0	0.0	2.2	6.4	0.0	0.0	0.0	2.5	3.2	0.0	0.0
Loans and Purchases of Debt Instruments	-118.6	-93.9	-125.5	-96.7	-118.2	-73.0	-106.4	-36.9	-71.6	-62.0	-107.0	-30.9
Receipts from Loan Repayments and Sale of Debt Instruments	120.6	86.2	106.7	93.7	115.5	93.8	92.9	30.0	77.4	44.2	102.3	47.6
Investments in Other Entities	0.0	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	3.9	2.5	3.1	2.0	2.7	3.9	3.7	1.9	3.7	3.0	4.4	1.7
Increase/(Decrease) in Term Deposits	0.0	0.0	0.0	0.0	0.0	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	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	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	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	5.5	-5.2	-15.7	1.1	6.4	24.7	-9.9	-4.9	12.0	-11.6	-0.3	18.4
Proceeds from Equity Issuance and Capital Contributions	0.0	0.0	0.0	0.0	6.4	0.0	0.0	0.2	0.0	0.0	0.0	0.1
Share Repurchases	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Borrowings	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Repayment of Borrowings	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Repayment of Finance Leases	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	0.0	-3.9	0.0	0.0	0.0	-3.9	0.0	0.0	-7.9	0.0	0.0	0.0
Other Financing Receipts	0.0	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	0.0	-3.9	0.0	0.0	6.4	-3.9	0.0	0.2	-7.9	0.0	0.0	0.1
Net Cash Flow During the Period	-2.6	0.6	2.5	-3.9	6.8	16.0	4.9	-0.3	-6.8	6.8	-1.7	-1.7
Cash and Cash Equivalents at Beginning of Period	33.8	33.1	30.6	34.5	7.2	7.2	7.2	7.2	10.5	10.5	10.5	10.5
FX Difference from Revaluation	0.0	0.0	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	31.1	33.8	33.1	30.6	34.5	27.8	11.8	6.9	7.2	13.9	7.1	8.8

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

HTV

What Is Changing

Financial Statements

Profitability

Balance Sheet

Cash Flow

Related Research