ICT

Viễn thông - Tin học Bưu điện ·HOSE ·2026Q1

▼ Under pressure

Capital efficiency remains weak ROE −0.72%, −5.43pp YoY

Price

18,000

Latest close

03 Jun 2026

P/E 18.02x

P/B 0.88x

EPS 999

BVPS 20,405

ROE 4.9%

ROA 2.2%

Profit Margin 1.3%

Asset Turnover 1.64x

Equity Mult. 2.26x

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

What Is Changing

On a TTM 2026Q1 basis, ICT posted slightly higher revenue but margins narrowed — the two forces offset each other, leaving the overall picture largely unchanged — the growth momentum has held across consecutive 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 2,444bn
	                                
+47.2%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 32bn
	                                
−6.9%YoY

	                            
	                                Non-core income / PBT
	                            
	                                    109.0%

Metric	2025	2024	2023	2022	2021
Revenue	2,113.2	1,572.5	1,495.9	1,293.3	2,094.1
Growth	+34%	+5%	+16%	-38%	—
Net Income	31.8	31.1	14.9	10.2	57.9
Net Margin	1.50%	1.98%	1.00%	0.79%	2.76%

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	519.6	932.7	705.3	286.6	188.7	297.3	485.8	689.0	100.4	631.6	200.4	588.4
Growth	-44%	+32%	+146%	+52%	-37%	-39%	-29%	+586%	-84%	+215%	-66%	—
Net Income	4.8	12.1	1.8	13.4	4.7	13.7	1.6	14.5	2.3	15.6	0.9	20.3
Net Margin	0.92%	1.30%	0.25%	4.69%	2.49%	4.59%	0.34%	2.11%	2.28%	2.47%	0.47%	3.45%

Drivers of ICT's profit

TTM

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

Other profit ↑ 33.2bn

Finance costs ↓ 20.0bn

Gross profit ↓ 34.6bn

Financial income ↓ 9.1bn

Selling expenses ↑ 7.4bn

Tax ↑ 3.3bn

TTM

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

Finance costs ↓ 8.8bn

Financial income ↑ 5.2bn

Other profit ↑ 0.7bn

Administrative expenses ↓ 0.3bn

Gross profit ↓ 12.3bn

Selling expenses ↑ 1.8bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 5.3% = 2.1% × 1.28 × 1.99

2026Q1 4.9% = 1.3% × 1.64 × 2.26

ROE is broadly flat at 4.9% — the components are offsetting one another.

Net margin: 1.3% -0.8pp Asset turnover: 1.64x +0.36x Leverage: 2.26x +0.27x

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 narrowed to 1.31%, falling 0.8pp. The main pressure is Gross margin fell 4.2pp, outweighing the improvement in SG&A / Revenue fell 1.8pp (with additional support from Other profit / Revenue rose 1.1pp and Net financial result / Revenue rose 0.5pp).

Margin is under pressure from multiple sides — temporary and structural components need to be separated to properly assess the risk.

Profitability trend

Net Margin 1.31% −0.8pp

Gross Margin 4.40% −4.2pp

SG&A / Revenue 4.93% −1.8pp

Non-core / Revenue 2.25% +1.6pp

TTM YoY · 2025Q1 -> 2026Q1

Watchpoints

Other income is supporting margin

Other income accounts for 131.1% of PBT and lifted net margin by 1.6pp — separate the operating contribution from this source.

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 -0.72%, losing 5.4pp. That translates to -0.72 in after-tax operating profit for every 100 units of operating capital. The main pressure came from NOPAT margin narrowed 1.6pp, outweighing the movement in capital turnover; while invested capital contracted by 107bn.

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

Watchpoints

ROIC remains low

ROIC is currently -0.72% — below the typical cost-of-capital threshold; worth tracking whether upcoming periods can rise above this level.

CAPITAL EFFICIENCY TREND

ROIC -0.72% −5.4pp

NOPAT Margin -0.12% −1.6pp

Capital Turnover 6.08x +2.82x

Average Invested Capital 401.8bn −106.7bn

Balance Sheet

ROIC declined — the balance sheet shows how capital is being deployed. Balance sheet is exceptionally sound — liabilities at 1.56x equity, with a net cash position equivalent to 0.28x equity.

Over the last 12 months, working capital absorbed 181.7bn 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: −649.0bn

Inventories decreased → higher CFO: +163.1bn

Payables increased → higher CFO: +304.3bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 31.8 days versus the same period last year. The main moves came from DIO fell 32.0 days, DSO fell 14.3 days, and DPO fell 14.5 days.

Improvement comes mainly from faster inventory turnover — watch whether this trend persists in coming periods.

Working Capital Efficiency

Receivables 77.1 days −14.3 days

Inventory 29.2 days −32.0 days

Payables 77.7 days −14.5 days

Cash Conversion Cycle 28.6 days −31.8 days

Is financial risk significant?

Financial risk is low — the company has net cash and CFO reached 72.4bn.

Leverage & Liquidity

Leverage warrants monitoring, with net debt / equity at -0.28x and interest coverage only at -0.36x.

At present, short-term debt accounts for 100.0% of total debt, cash equals 205.7% of debt, and total debt stands at 174.2bn.

Watchpoints

Interest coverage is thin

Interest coverage is -0.36x, 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 -0.28x +0.22x

Interest Coverage -0.36x −1.30x

Cash / Debt 205.7% −500.5pp

Short-term Debt / Total Debt 100.0% 0.0pp

CFO / NI -3.94x −15.00x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 72.4bn in 2025, against investing cash flow of 9.5bn.

Post-investment cash flow was positive +81.9bn. Financing cash flow was positive +13.6bn.

CFO / net income was -3.94x.

After spending +11.1bn on fixed-asset investment, the business generated trailing free cash flow of −137.8bn.

Cash Conversion

CFO TTM 126.7bn −508.3bn

Cash Capex 11.1bn +9.4bn

FCF TTM −137.8bn −517.7bn

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. The next item to monitor is the earnings mix, when non-core contribution is 22.1%. The main risk still sits in capital efficiency remains weak, with ROIC at -0.7%.

Watchpoint: the earnings mix still needs monitoring, with net financial result still accounting for 22.1% of PBT and CFO / net income currently at -3.94x.

Key risk: Capital efficiency remains weak.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	2,113.2	1,572.5	1,495.9	1,293.3	2,094.1
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	2,113.2	1,572.5	1,495.9	1,293.3	2,094.1
Cost of Goods Sold	1,994.2	1,444.3	1,381.5	1,212.3	0.0
Gross Profit	119.0	128.2	114.4	80.9	163.4
Financial Income	14.5	24.8	14.2	65.5	19.2
Financial Expenses	19.5	22.0	34.0	32.4	-42.3
Interest Expense	10.8	12.0	27.8	15.7	-29.8
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	-0.0
Selling Expenses	63.5	54.8	42.0	32.1	-16.4
General and Administrative Expenses	55.5	51.6	42.6	49.5	-44.2
Operating Profit	-5.0	24.5	10.0	32.4	79.7
Other Income	46.8	28.2	16.6	16.1	0.0
Other Expenses	1.8	15.6	6.6	34.3	0.0
Other Profit	45.1	12.6	10.0	-18.2	-9.5
Profit Before Tax	40.1	37.2	20.0	14.2	70.1
Current Income Tax Expense	8.3	6.1	5.1	4.0	-12.3
Deferred Income Tax Expense	—	0.0	0.0	0.0	0.0
Net Income	31.8	31.1	14.9	10.2	57.9
Non-controlling Interest	—	0.0	0.0	0.0	-0.0
Profit Attributable to Parent	31.8	31.1	14.9	10.2	57.9
Earnings per Share	988.00	966.00	464.00	316.00	1,798.00
Diluted EPS	988.08	966.42	463.69	315.69	1,798.21

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	1,453.8	1,244.7	1,208.4	1,223.0	1,893.4
I. Cash and cash equivalents	525.2	429.6	97.3	203.3	457.7
1. Cash	73.7	179.6	77.3	92.9	0.0
2. Cash equivalents	451.5	250.0	20.0	110.4	0.0
II. Short-term financial investments	—	0.0	0.0	0.0	0.0
1. Available for sale securities	—	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	0.0	0.0	0.0	0.0
3. Held to maturity investments	—	0.0	0.0	0.0	0.0
III. Short-term receivables	856.6	736.4	1,032.0	824.0	984.7
1. Short-term trade accounts receivable	785.2	569.3	969.0	671.5	0.0
2. Short-term prepayments to suppliers	14.2	122.5	22.3	119.5	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	60.0	46.6	42.8	34.5	0.0
7. Provision for short-term doubtful debts (*)	-2.8	-2.0	-2.0	-1.6	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	37.3	71.4	61.4	177.1	412.9
1. Inventories	44.1	72.5	62.2	178.0	0.0
2. Provision for decline in value of inventories	-6.8	-1.1	-0.9	-0.9	0.0
V. Other short-term assets	34.7	7.2	17.7	18.6	18.1
1. Short-term prepayments	3.1	7.2	17.7	11.2	0.0
2. Value added tax to be reclaimed	31.6	0.0	0.0	5.5	0.0
3. Taxes and other receivables from state authorities	—	0.0	0.0	1.9	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)	217.0	230.7	232.8	230.7	201.5
I. Long-term receivables	1.6	1.6	1.4	1.5	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	0.6
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	1.6	1.6	1.4	1.5	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	133.6	128.1	138.3	137.4	143.8
1. Tangible fixed assets	54.2	47.0	55.5	52.9	62.5
- Cost	208.5	191.5	195.6	203.7	0.0
- Accumulated depreciation	-154.3	-144.5	-140.1	-150.8	0.0
2. Financial leased fixed assets	—	0.0	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0	0.0
3. Intangible fixed assets	79.4	81.1	82.8	84.5	81.3
- Cost	87.6	87.6	87.6	87.6	0.0
- Accumulated depreciation	-8.2	-6.5	-4.8	-3.1	0.0
III. Investment properties	8.5	9.2	9.9	0.0	0.0
- Cost	18.7	18.7	18.7	0.0	0.0
- Accumulated depreciation	-10.2	-9.5	-8.8	0.0	0.0
IV. Long-term assets in progress	0.2	8.4	10.8	12.4	10.3
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	0.2	8.4	10.8	12.4	0.0
V. Long-term financial investments	66.2	66.4	64.6	64.8	41.2
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	66.4	66.4	66.4	66.4	0.0
4. Provision for diminution in value of long-term investments	-0.2	0.0	-1.8	-1.6	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	6.9	17.0	7.8	14.6	0.0
1. Long-term prepayments	6.9	17.0	7.8	14.6	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	5.5
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)	1,670.8	1,475.4	1,441.2	1,453.7	2,095.0
A. LIABILITIES (300=210+330)	1,018.9	819.2	798.2	791.5	1,383.5
I. Short -term liabilities	1,011.9	813.7	795.2	790.3	1,381.8
1. Short-term trade accounts payable	446.6	402.2	421.8	326.4	664.5
2. Short-term advances from customers	99.6	30.4	2.1	10.6	37.0
3. Taxes and other payables to state authorities	11.4	13.4	16.8	3.0	0.0
4. Payable to employees	22.8	21.1	15.6	12.0	0.0
5. Short-term acrrued expenses	34.4	39.5	9.0	26.9	0.0
6. Short-term inter-company payables	—	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	8.1	7.9	7.7	11.1	0.2
9. Other short-term payables	73.0	42.5	34.5	29.7	0.0
10. Short-term borrowings and financial leases	298.3	252.6	276.0	346.0	550.4
11. Provision for short-term liabilities	14.6	1.0	2.5	8.6	0.0
12.. Bonus and welfare fund	3.0	3.2	9.1	15.8	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	6.9	5.5	3.0	1.1	1.7
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	1.3	0.3	0.4	0.8	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	5.6	5.2	2.6	0.4	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)	651.9	656.2	643.1	662.3	711.4
I. Owner's equity	651.9	656.2	643.1	662.3	0.0
1. Owner's capital	321.9	321.9	321.9	321.9	711.4
- Common stock with voting right	321,850,000,000.00	321,850,000,000.00	321,850,000,000.00	321,850,000,000.00	321,850,000,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	2.5	2.5	2.5	2.5	2.5
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	—	0.0	0.0	0.0	0.0
5. Treasury shares	—	0.00	0.00	0.00	0.00
6. Assets revaluation differences	—	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	0.0	0.0	0.0	0.0
8. Investment and development fund	96.9	96.9	96.9	96.9	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	230.7	234.9	221.8	241.0	290.2
- Accumulated retained earning at the end of the previous period	198.9	203.8	206.9	230.8	231.8
- Undistributed earnings in this period	31.8	31.1	14.9	10.2	58.3
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	—	0.0	0.0	0.0	0.0
14. Financial reserves	—	0.0	0.0	0.0	0.0
II. Other resources and funds	—	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	1,670.8	1,475.4	1,441.2	1,453.7	2,095.0

Item	2025	2024	2023	2022	2021
Profit Before Tax	40.1	37.2	20.0	14.2	70.7
Depreciation of Fixed Assets and Investment Property	14.7	15.2	12.5	12.7	12.7
Provision (Increase)/Reversal	20.8	0.8	-2.9	0.6	0.0
FX Gain/Loss from Revaluation of Monetary Items	3.5	-9.1	-0.5	8.1	0.0
Gain/Loss from Investment Activities	-12.4	-12.0	-5.1	-46.5	0.0
Interest Expense	10.8	12.0	27.8	15.7	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	77.4	44.2	51.9	4.8	97.9
Increase/(Decrease) in Receivables	-160.2	303.6	-204.5	173.5	0.0
Increase/(Decrease) in Inventory	28.4	-10.3	115.8	242.4	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	131.3	56.8	88.7	-403.7	0.0
Increase/(Decrease) in Prepaid Expenses	14.2	1.3	0.4	-10.3	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-10.6	-12.2	-29.1	-14.5	0.0
Corporate Income Tax Paid	-5.0	-5.7	-2.9	-5.9	0.0
Other Operating Receipts	—	0.0	0.0	0.1	0.0
Other Operating Payments	-3.2	-7.2	-8.7	-6.0	0.0
Net Cash Flow from Operating Activities	72.4	370.5	11.5	-19.6	342.3
Payments for Fixed Assets and Other Long-term Assets	-11.1	-1.9	-21.0	-4.3	-15.6
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.7	0.0	0.4	0.1	0.0
Loans and Purchases of Debt Instruments	—	0.0	0.0	20.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	0.0	0.0	0.0	0.0
Investments in Other Entities	—	0.0	0.0	-25.2	0.0
Proceeds from Investments in Other Entities	—	0.0	0.0	24.0	0.0
Dividends and Interest Income Received	19.9	3.4	5.3	7.8	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	9.5	1.5	-15.2	22.4	0.8
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	815.0	676.9	736.4	515.6	1,072.1
Repayment of Borrowings	-769.3	-700.3	-806.4	-720.0	-1,212.9
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-32.1	-16.2	-32.2	-52.8	-39.1
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	13.6	-39.7	-102.1	-257.2	-180.0
Net Cash Flow During the Period	95.6	332.3	-105.9	-254.4	315.6
Cash and Cash Equivalents at Beginning of Period	429.6	97.3	203.3	457.7	294.6
FX Difference from Revaluation	0.0	0.0	-0.1	0.0	0.0
Cash and Cash Equivalents at End of Period	525.2	429.6	97.3	203.3	457.7

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	519.6	932.7	705.3	286.6	188.7	297.3	485.8	689.0	100.4	631.6	200.4	588.4
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	519.6	932.7	705.3	286.6	188.7	297.3	485.8	689.0	100.4	631.6	200.4	588.4
Cost of Goods Sold	495.4	893.3	691.3	256.7	152.2	273.1	456.5	636.8	76.8	588.4	179.9	546.6
Gross Profit	24.2	39.4	14.1	29.8	36.5	24.2	29.3	52.2	23.6	43.3	20.5	41.8
Financial Income	9.7	3.7	2.1	4.2	4.5	18.9	1.5	3.9	0.5	1.5	1.1	9.9
Financial Expenses	3.2	4.4	5.3	-2.3	12.0	7.2	5.1	6.1	3.4	7.2	8.5	10.3
Interest Expense	2.5	2.9	4.1	2.8	1.0	2.5	4.0	2.5	2.8	5.3	6.5	8.9
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	14.5	24.9	11.0	14.8	12.7	17.8	12.5	14.8	9.5	16.2	8.8	11.3
General and Administrative Expenses	11.1	23.0	7.3	14.0	11.4	18.9	11.5	12.5	9.1	14.6	9.0	9.5
Operating Profit	5.1	-9.2	-7.3	7.6	4.9	-0.8	1.7	22.6	2.1	6.8	-4.8	20.6
Other Income	1.7	27.6	9.6	8.9	0.7	18.8	0.5	8.1	0.7	11.9	6.0	4.8
Other Expenses	0.3	0.8	0.0	0.9	0.0	2.4	0.1	13.0	0.0	0.1	0.1	5.1
Other Profit	1.4	26.8	9.6	8.0	0.7	16.4	0.4	-4.8	0.7	11.8	5.9	-0.3
Profit Before Tax	6.5	17.6	2.3	15.6	5.6	15.6	2.1	17.8	2.9	18.5	1.1	20.3
Current Income Tax Expense	1.7	5.5	0.5	2.1	0.9	1.9	0.5	3.3	0.6	2.9	0.1	0.0
Deferred Income Tax Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	4.8	12.1	1.8	13.4	4.7	13.7	1.6	14.5	2.3	15.6	0.9	20.3
Non-controlling Interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	4.8	12.1	1.8	13.4	4.7	13.7	1.6	14.5	2.3	15.6	0.9	20.3
Earnings per Share	149.00	377.00	55.00	418.00	146.00	424.00	51.00	451.00	71.00	485.00	30.00	630.00
Diluted EPS	149.15	376.75	54.58	417.70	146.02	424.12	51.09	450.85	71.15	484.76	29.47	630.05

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)	1,495.1	1,457.2	1,211.1	1,236.9	1,048.4	1,248.7	1,511.6	1,578.3	1,087.1	1,205.3	1,119.0	1,253.1
I. Cash and cash equivalents	358.3	525.3	335.7	341.9	384.4	429.6	281.6	157.4	153.6	97.3	132.5	87.4
1. Cash	68.9	73.8	199.2	166.9	92.4	179.6	171.6	117.4	103.6	77.3	54.5	72.4
2. Cash equivalents	289.3	451.5	136.5	175.0	292.0	250.0	110.0	40.0	50.0	20.0	78.0	15.0
II. Short-term financial investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Short-term receivables	997.8	861.0	649.8	304.7	382.5	739.0	1,077.4	1,214.6	663.4	1,031.9	818.4	984.6
1. Short-term trade accounts receivable	758.5	789.4	588.3	254.4	273.6	572.0	955.7	1,071.8	558.0	969.1	733.8	889.3
2. Short-term prepayments to suppliers	149.4	14.2	32.2	20.2	79.2	122.5	84.6	113.1	57.4	22.3	54.9	64.9
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	92.7	60.2	31.3	33.1	31.7	46.5	39.0	31.7	50.0	42.5	31.3	32.0
7. Provision for short-term doubtful debts (*)	-2.8	-2.8	-2.0	-3.0	-2.0	-2.0	-2.0	-2.0	-2.0	-2.0	-1.6	-1.6
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	98.8	36.2	202.3	544.8	267.6	71.7	143.9	190.3	239.6	61.4	144.9	156.8
1. Inventories	105.6	43.0	203.4	545.9	268.7	72.6	144.8	191.2	240.5	62.2	145.8	157.7
2. Provision for decline in value of inventories	-6.8	-6.8	-1.1	-1.1	-1.1	-0.9	-0.9	-0.9	-0.9	-0.9	-0.9	-0.9
V. Other short-term assets	40.1	34.8	23.3	45.6	13.9	8.4	8.7	16.1	30.5	14.8	23.2	24.3
1. Short-term prepayments	6.0	3.1	3.9	3.9	5.5	8.4	8.7	12.4	14.1	14.8	21.8	23.9
2. Value added tax to be reclaimed	34.1	31.6	19.4	41.3	8.5	0.0	0.0	3.4	16.0	0.0	1.4	0.4
3. Taxes and other receivables from state authorities	—	—	0.1	0.4	0.0	0.0	0.0	0.3	0.4	0.0	0.0	0.0
4. Government bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Other short-term assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	211.3	216.9	221.2	217.9	224.3	229.6	234.6	235.6	235.9	231.5	234.2	232.1
I. Long-term receivables	1.6	1.6	1.6	1.6	1.6	1.6	1.6	1.6	1.6	1.5	1.5	1.5
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	1.6	1.6	1.6	1.6	1.6	1.6	1.6	1.6	1.6	1.5	1.5	1.5
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	129.6	133.6	120.1	122.8	124.7	128.1	131.8	134.5	134.9	147.3	148.4	132.4
1. Tangible fixed assets	50.7	54.2	40.2	42.6	44.1	47.0	50.3	52.5	52.5	64.8	65.4	48.8
- Cost	209.1	—	—	—	—	191.5	197.4	196.4	195.6	224.9	222.9	204.6
- Accumulated depreciation	-158.4	—	—	—	—	-144.5	-147.2	-143.8	-143.1	-160.1	-157.5	-155.7
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	78.9	79.4	79.8	80.2	80.7	81.1	81.5	82.0	82.4	82.5	83.0	83.5
- Cost	87.6	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-8.7	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	8.3	8.5	8.7	8.9	9.0	9.2	9.4	9.6	9.7	0.0	0.0	0.0
- Cost	18.7	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-10.4	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	0.1	0.2	8.9	0.3	8.6	8.4	8.6	9.9	11.3	10.8	8.9	20.5
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	0.1	0.2	8.9	0.3	8.6	8.4	8.6	9.9	11.3	10.8	8.9	20.5
V. Long-term financial investments	66.2	66.2	66.2	66.2	66.2	66.4	66.4	66.4	66.1	64.6	65.3	65.6
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	66.4	66.4	66.4	66.4	66.4	66.4	66.4	66.4	66.4	66.4	66.4	66.4
4. Provision for diminution in value of long-term investments	-0.2	-0.2	-0.2	-0.2	-0.2	0.0	0.0	0.0	-0.2	-1.8	-1.1	-0.8
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	5.4	6.9	15.9	18.2	14.2	15.9	16.9	13.7	12.3	7.3	10.1	12.2
1. Long-term prepayments	5.4	6.9	15.9	18.2	14.2	15.9	16.9	13.7	12.3	7.3	10.1	12.2
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)	1,706.3	1,674.1	1,432.3	1,454.8	1,272.7	1,478.3	1,746.3	1,813.9	1,323.0	1,436.9	1,353.2	1,485.2
A. LIABILITIES (300=210+330)	1,049.6	1,022.2	792.6	816.5	611.8	821.2	1,102.8	1,172.0	677.6	791.1	723.1	856.0
I. Short -term liabilities	1,047.3	1,015.7	785.5	809.5	604.8	815.7	1,096.6	1,169.5	674.8	787.6	720.5	854.9
1. Short-term trade accounts payable	600.2	446.6	295.1	270.0	394.5	402.4	552.0	585.6	372.4	415.0	236.8	244.1
2. Short-term advances from customers	138.0	99.5	88.3	69.3	37.4	30.4	59.3	80.3	34.3	2.1	75.2	48.4
3. Dividends and profits payable	1.3	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	5.5	12.0	4.3	7.4	1.9	13.6	9.0	4.3	1.1	14.8	0.7	4.2
4. Payable to employees	7.1	22.9	6.7	6.9	5.4	20.3	4.9	5.1	5.4	15.6	5.4	5.7
5. Short-term acrrued expenses	18.4	33.0	26.1	53.0	53.4	39.4	70.3	45.9	9.5	12.7	20.9	19.2
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	6.9	8.1	6.3	4.7	6.8	7.9	9.7	6.0	7.4	8.2	12.5	7.9
9. Other short-term payables	75.6	77.6	52.3	67.9	47.9	45.0	41.3	70.5	45.2	31.4	67.4	54.8
10. Short-term borrowings and financial leases	174.2	298.3	302.4	325.8	54.4	252.6	344.4	361.7	194.3	276.0	289.6	455.5
11. Provision for short-term liabilities	19.2	14.6	1.0	1.0	1.1	1.0	2.0	5.9	2.3	2.7	2.6	5.2
12.. Bonus and welfare fund	1.0	3.0	3.2	3.4	1.9	3.2	3.6	4.1	2.8	9.1	9.4	10.0
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	2.3	6.5	7.1	7.1	7.1	5.5	6.2	2.4	2.8	3.5	2.5	1.1
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Other long-term liabilities	1.3	0.9	1.4	1.4	1.4	0.3	0.3	0.3	0.4	0.5	0.5	0.8
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	1.0	5.6	5.6	5.6	5.6	5.2	5.9	2.1	2.4	3.0	2.0	0.3
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)	656.7	651.9	639.8	638.3	660.9	657.1	643.5	641.9	645.4	645.8	630.2	629.2
I. Owner's equity	656.7	651.9	639.8	638.3	660.9	657.1	643.5	641.9	645.4	645.8	630.2	629.2
1. Owner's capital	321.9	321.9	321.9	321.9	321.9	321.9	321.9	321.9	321.9	321.9	321.9	321.9
- Common stock with voting right	321,850,000,000.00	321,850,000,000.00	321,850,000,000.00	321,850,000,000.00	321,850,000,000.00	321,850,000,000.00	321,850,000,000.00	321,850,000,000.00	321,850,000,000.00	321,850,000,000.00	321,850,000,000.00	321,850,000,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	2.5	2.5	2.5	2.5	2.5	2.5	2.5	2.5	2.5	2.5	2.5	2.5
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Treasury shares	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
6. Assets revaluation differences	—	—	—	—	—	0.0	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	96.9	96.9	96.9	96.9	96.9	96.9	96.9	96.9	96.9	96.9	96.9	96.9
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	235.5	230.6	218.5	217.0	239.6	235.9	222.2	220.6	224.1	224.5	208.9	207.9
- Accumulated retained earning at the end of the previous period	230.7	198.9	198.9	198.9	234.9	203.8	203.8	203.8	221.8	206.9	206.9	206.9
- Undistributed earnings in this period	4.8	31.7	19.6	18.1	4.7	32.0	18.4	16.8	2.3	17.6	2.0	1.0
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	—	—	—	—	—	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)	1,706.3	1,674.1	1,432.3	1,454.8	1,272.7	1,478.3	1,746.3	1,813.9	1,323.0	1,436.9	1,353.2	1,485.2

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	6.5	17.0	2.3	15.2	5.6	15.6	2.1	17.7	2.9	17.9	1.1	20.3
Depreciation of Fixed Assets and Investment Property	4.8	3.9	3.9	3.3	3.6	3.8	4.0	3.8	3.6	4.4	2.3	2.9
Provision (Increase)/Reversal	-0.0	20.1	-1.0	0.9	0.7	-1.5	0.9	3.1	-2.0	2.0	-0.8	-3.1
FX Gain/Loss from Revaluation of Monetary Items	-1.6	-0.1	0.0	-0.5	4.1	-7.5	0.0	-1.6	0.0	-2.3	0.9	0.0
Gain/Loss from Investment Activities	-7.4	-2.8	-2.0	-3.6	-4.0	-10.0	-0.6	-0.8	-0.5	-0.8	-0.2	-2.6
Interest Expense	2.5	2.9	4.1	2.8	1.0	2.5	4.0	2.7	2.8	5.3	6.5	8.9
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	4.8	41.0	7.2	18.1	11.1	2.9	10.4	24.9	6.8	26.5	9.6	26.4
Increase/(Decrease) in Receivables	-143.5	-227.9	-314.4	36.7	345.3	346.8	128.1	-525.8	352.0	-213.1	164.1	-251.8
Increase/(Decrease) in Inventory	-61.6	159.3	342.5	-277.2	-196.2	72.3	46.4	49.3	-178.2	83.6	13.1	43.8
Increase/(Decrease) in Payables (Excl. Interest and CIT)	164.4	212.1	-1.0	-71.2	-8.5	-181.2	-22.0	290.4	-28.1	120.7	33.0	82.8
Increase/(Decrease) in Prepaid Expenses	-1.4	9.7	-4.8	4.8	4.5	1.3	0.5	0.3	-0.9	6.4	3.8	7.9
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-2.8	-2.8	-4.0	-2.7	-1.1	-2.5	-4.6	-2.1	-3.0	-5.4	-6.6	-6.2
Corporate Income Tax Paid	-8.1	-0.2	0.0	0.0	-4.8	-0.7	0.0	-0.6	-4.4	-0.7	-0.0	0.0
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-2.0	-0.2	-0.1	-1.5	-1.4	-0.3	-0.9	-0.1	-6.3	-0.3	-0.7	-2.7
Net Cash Flow from Operating Activities	-50.1	191.0	25.3	-293.0	149.0	238.5	157.8	-163.7	137.9	17.6	216.3	-99.8
Payments for Fixed Assets and Other Long-term Assets	-0.1	-8.5	-2.4	-0.0	-0.2	0.2	-1.0	-0.7	-0.4	-8.0	-6.8	-6.9
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.5	0.2	—	—	0.0	0.0	0.0	0.0	0.2	0.2	0.0
Loans and Purchases of Debt Instruments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	7.4	10.6	-5.9	11.1	4.1	1.4	0.7	0.8	0.6	0.8	1.7	1.2
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	7.3	2.6	-8.1	11.0	3.9	1.6	-0.3	0.1	0.1	-7.0	-4.9	-5.7
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	64.0	220.9	197.8	341.8	54.4	91.0	156.9	285.6	143.4	177.7	118.1	212.0
Repayment of Borrowings	-188.1	-225.1	-221.2	-70.5	-252.6	-182.8	-174.2	-118.2	-225.1	-191.3	-283.9	-150.5
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	—	0.0	-0.1	-32.0	—	-0.3	-15.9	0.0	0.0	-32.1	-0.0	0.0
Other Financing Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Financing Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	-124.1	-4.1	-23.5	239.4	-198.1	-92.1	-33.2	167.4	-81.7	-45.7	-165.9	61.5
Net Cash Flow During the Period	-167.0	189.5	-6.2	-42.5	-45.2	148.0	124.3	3.8	56.3	-35.2	45.5	-44.0
Cash and Cash Equivalents at Beginning of Period	525.2	335.7	341.9	384.4	429.6	97.3	97.3	97.3	97.3	203.3	203.3	203.3
FX Difference from Revaluation	—	0.0	0.0	0.0	—	0.0	0.0	0.0	0.0	0.0	-0.1	0.0
Cash and Cash Equivalents at End of Period	358.3	525.2	335.7	341.9	384.4	429.6	281.6	157.4	153.6	97.3	132.5	87.1

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ICT

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