LAI

Listed Company · UPCOM

Price

11,200

Latest close

03 Apr 2026

P/E 4.6x

EPS (TTM) 2,426

ROE (TTM) 13.6%

P/B 0.8x

BVPS (Latest) 14,234

ROA (TTM) 3.7%

What Is Changing

LAI has not yet shown a broad-based top-line recovery. Revenue posted -31.2% YoY, but net margin reached 18.42% with an additional -18.0pp improvement versus the prior year. The next question is whether current profit momentum can hold through the next cycle.

Net Income growth slowed to -65.3% in 2025 from 277.4% in the prior period, at VND 49.7bn.
Revenue decreased 31.3% YoY to VND 269.7bn in 2025.
Net margin declined from 36.45% in the prior period to 18.42% in 2025.

Metric	2025	2024	2023	2022
Revenue	269.7	392.3	214.6	250.6
Growth	-31%	+83%	-14%	—
Net Income	49.7	143.0	37.9	35.2
Net Margin	18.42%	36.45%	17.65%	14.07%

Metric	Q4'25	Q3'25	Q2'25	Q1'25
Revenue	35.1	105.4	78.8	50.4
Growth	-67%	+34%	+56%	—
Net Income	-2.9	24.1	18.3	10.0
Net Margin	-8.20%	22.90%	23.18%	19.73%

Financial Statements

Profitability

Net margin reached 18.42% while Revenue posted -31.2% YoY.

Balance Sheet

Inventory stood at 915.9bn, liabilities at 952.5bn, and equity at 389.4bn.

Cash Flow

Operating cash flow was -12.6bn in 2025, while investing cash flow was -15.3bn.

Financing cash flow: 55.3bn.

Item	2025	2024	2023	2022
Revenue	269.7	392.3	214.6	250.6
Revenue Deductions	—	0.0	0.0	0.0
Net Revenue	269.7	392.3	214.6	250.6
Cost of Goods Sold	167.6	158.2	138.3	176.4
Gross Profit	102.0	234.0	76.3	74.2
Financial Income	0.9	0.0	0.3	0.3
Financial Expenses	12.1	19.1	6.9	5.7
Interest Expense	12.1	19.0	6.8	5.7
Share of Associates and Joint Ventures	—	0.0	0.0	0.0
Selling Expenses	6.3	17.3	5.7	6.0
General and Administrative Expenses	20.1	18.9	19.4	19.4
Operating Profit	64.5	178.7	44.7	43.5
Other Income	1.0	0.9	2.7	0.5
Other Expenses	1.0	0.8	0.0	0.0
Other Profit	0.0	0.1	2.7	0.5
Profit Before Tax	64.5	178.9	47.3	44.0
Current Income Tax Expense	13.3	37.8	9.5	8.7
Deferred Income Tax Expense	1.5	-1.9	0.0	0.0
Net Income	49.7	143.0	37.9	35.2
Non-controlling Interest	—	0.0	0.0	0.0
Profit Attributable to Parent	49.7	143.0	37.9	35.2
Earnings per Share	1,720.00	8,156.00	4,202.00	3,970.00
Diluted EPS	1,720.00	8,156.00	4,430.14	4,122.45

Item	2025	2024	2023	2022
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	1,000.1	988.6	817.5	600.4
I. Cash and cash equivalents	32.6	5.1	76.2	33.2
1. Cash	9.5	2.1	66.2	4.2
2. Cash equivalents	23.1	3.0	10.0	29.0
II. Short-term financial investments	16.0	0.0	0.1	0.1
1. Available for sale securities	—	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	0.0	0.0	0.0
3. Held to maturity investments	16.0	0.0	0.1	0.1
III. Short-term receivables	34.3	66.5	49.9	35.8
1. Short-term trade accounts receivable	36.0	63.1	48.2	33.5
2. Short-term prepayments to suppliers	0.1	0.1	0.1	0.2
3. Short-term inter-company receivables	—	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	0.0	0.0	0.0
5. Short-term loan receivables	—	0.0	0.0	0.0
6. Other short-term receivables	0.7	3.7	1.7	2.1
7. Provision for short-term doubtful debts (*)	-2.4	-0.4	0.0	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0
IV. Inventories	915.9	914.5	676.8	518.8
1. Inventories	915.9	914.5	676.8	518.8
2. Provision for decline in value of inventories	—	0.0	0.0	0.0
V. Other short-term assets	1.2	2.5	14.6	12.6
1. Short-term prepayments	0.7	1.5	14.2	12.6
2. Value added tax to be reclaimed	0.5	1.0	0.4	0.0
3. Taxes and other receivables from state authorities	—	0.0	0.0	0.0
4. Government bonds	—	0.0	0.0	0.0
5. Other short-term assets	—	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	341.9	337.0	346.6	301.1
I. Long-term receivables	4.2	0.0	0.0	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	0.0	0.0	0.0
3. Capital at inter-company	—	0.0	0.0	0.0
4. Long-term inter-company receivables	—	0.0	0.0	0.0
5. Long-term loan receivables	—	0.0	0.0	0.0
6. Other long-term receivables	4.2	0.0	0.0	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0
II. Fixed assets	12.6	13.4	14.2	15.3
1. Tangible fixed assets	9.9	10.7	11.6	12.6
- Cost	25.4	25.4	25.4	36.3
- Accumulated depreciation	-15.5	-14.7	-13.9	-23.7
2. Financial leased fixed assets	—	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0
3. Intangible fixed assets	2.7	2.7	2.7	2.7
- Cost	2.7	2.7	2.7	2.7
- Accumulated depreciation	—	0.0	0.0	0.0
III. Investment properties	—	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0
IV. Long-term assets in progress	318.0	315.0	325.6	279.1
1. Long-term production in progress	317.9	314.8	325.4	278.9
2. Construction in progress	0.1	0.1	0.1	0.1
V. Long-term financial investments	6.8	6.8	6.8	6.8
1. Investments in subsidiaries	—	0.0	0.0	0.0
2. Investments in associates, joint-ventures	—	0.0	0.0	0.0
3. Investments in other entities	6.8	6.8	6.8	6.8
4. Provision for diminution in value of long-term investments	—	0.0	0.0	0.0
5. Held to maturity investments	—	0.0	0.0	0.0
6. Other long-term investments	—	0.0	0.0	0.0
VI. Other long-term assets	0.3	1.9	0.0	0.0
1. Long-term prepayments	—	0.0	0.0	0.0
2. Deferred income tax assets	0.3	1.9	0.0	0.0
3. Long-term equipment, supplies, spare parts	—	0.0	0.0	0.0
4. Other long-term assets	—	0.0	0.0	0.0
5. Goodwill	—	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	1,342.0	1,325.7	1,164.1	901.5
A. LIABILITIES (300=210+330)	952.5	983.1	961.8	734.3
I. Short -term liabilities	282.6	326.4	620.0	242.3
1. Short-term trade accounts payable	20.0	30.5	32.2	33.2
2. Short-term advances from customers	27.1	86.9	306.3	42.3
3. Taxes and other payables to state authorities	5.5	20.5	4.3	6.7
4. Payable to employees	2.0	2.8	2.4	3.1
5. Short-term acrrued expenses	0.1	6.8	0.0	0.0
6. Short-term inter-company payables	—	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	0.0	0.0	0.0
8. Short-term unearned revenue	—	0.0	0.0	0.0
9. Other short-term payables	14.1	5.3	48.9	46.7
10. Short-term borrowings and financial leases	213.7	171.5	225.4	109.7
11. Provision for short-term liabilities	—	0.0	0.0	0.0
12.. Bonus and welfare fund	0.1	2.0	0.5	0.5
13. Price stabilization fund	—	0.0	0.0	0.0
14. Government bonds	—	0.0	0.0	0.0
II. Long-term liabilities	669.9	656.7	341.8	492.0
1. Long-term trade payables	—	0.0	0.0	0.0
2. Long-term advances from customers	—	0.0	47.3	279.3
3. Long-term acrrued expenses	—	0.0	0.0	0.0
4. Inter-company payables on business capital	—	0.0	0.0	0.0
5. Long-term inter-company payables	—	0.0	0.0	0.0
6. Long-term unearned revenue	—	0.0	0.0	0.0
7. Other long-term liabilities	291.8	291.7	291.7	206.2
8. Long-term borrowings and financial leases	378.1	365.0	2.8	6.6
9. Convertible bonds	—	0.0	0.0	0.0
10. Preferred stock (Debts)	—	0.0	0.0	0.0
11. Deferred income tax liabilities	—	0.0	0.0	0.0
12. Provision for long-term liabilities	—	0.0	0.0	0.0
13. Fund for technology development	—	0.0	0.0	0.0
14. Provision for severance allowances	—	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	389.4	342.5	202.3	167.1
I. Owner's equity	389.4	342.5	202.3	167.1
1. Owner's capital	273.6	171.0	85.5	85.5
- Common stock with voting right	273.6	171.0	85.5	85.5
- Preferred stock	—	0.0	0.0	0.0
2. Share premium	9.0	9.0	9.0	9.0
3. Convertible bond option	—	0.0	0.0	0.0
4. Other capital of owners	1.0	1.0	1.0	1.0
5. Treasury shares	—	0.0	0.0	0.0
6. Assets revaluation differences	—	0.0	0.0	0.0
7. Foreign exchange differences	—	0.0	0.0	0.0
8. Investment and development fund	18.5	18.5	23.1	23.1
9. Fund to support corporate restructuring	—	0.0	0.0	0.0
10. Other funds from owner's equity	—	0.0	0.0	0.0
11. Undistributed earnings after tax	87.3	143.0	83.7	48.5
- Accumulated retained earning at the end of the previous period	37.6	0.0	45.8	13.3
- Undistributed earnings in this period	49.7	143.0	37.9	35.2
12. Reserves for investment in construction	—	0.0	0.0	0.0
13. Minority's interest	—	0.0	0.0	0.0
14. Financial reserves	—	0.0	0.0	0.0
II. Other resources and funds	—	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	0.0	0.0	0.0
2. Funds invested in fixed assets	—	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	1,342.0	1,325.7	1,164.1	901.5

Item	2025	2024	2023	2022
Profit Before Tax	64.5	178.9	47.3	44.0
Depreciation of Fixed Assets and Investment Property	0.8	0.8	0.9	1.1
Provision (Increase)/Reversal	2.1	0.4	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	—	0.0	0.0	0.0
Gain/Loss from Investment Activities	-0.9	-0.0	-2.5	-0.3
Interest Expense	12.1	19.0	6.8	5.7
Gain/Loss on Disposal of Fixed Assets	—	0.0	0.0	0.0
Interest Income and Dividends	—	0.0	0.0	0.0
Amortization of Goodwill	—	0.0	0.0	0.0
Other Adjustments	—	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	78.5	199.0	52.5	50.4
Increase/(Decrease) in Receivables	26.6	-6.7	-14.5	22.2
Increase/(Decrease) in Inventory	20.9	-227.4	-197.3	-343.2
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-71.7	-285.1	113.8	510.2
Increase/(Decrease) in Prepaid Expenses	0.8	12.7	-1.6	-12.6
Changes in Trading Securities	—	0.0	0.0	0.0
Interest Paid	-34.7	-42.3	-7.4	-5.7
Corporate Income Tax Paid	-28.3	-21.5	-10.4	-8.2
Other Operating Receipts	—	0.0	0.0	0.0
Other Operating Payments	-4.7	-1.3	-2.7	-2.5
Net Cash Flow from Operating Activities	-12.6	-372.5	-67.6	210.7
Payments for Fixed Assets and Other Long-term Assets	—	0.0	0.0	-174.5
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.0	2.6	0.0
Loans and Purchases of Debt Instruments	-16.0	0.0	-0.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	0.1	0.0	0.0
Investments in Other Entities	—	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	0.0	0.0	0.0
Dividends and Interest Income Received	0.7	0.0	0.3	0.3
Increase/(Decrease) in Term Deposits	—	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	0.0	0.0	0.0
Other Investing Receipts	—	0.0	0.0	0.0
Other Investing Payments	—	0.0	0.0	0.0
Net Cash Flow from Investing Activities	-15.3	0.1	2.8	-174.2
Proceeds from Equity Issuance and Capital Contributions	—	0.0	0.0	0.0
Share Repurchases	—	0.0	0.0	0.0
Proceeds from Borrowings	194.1	770.9	264.2	137.1
Repayment of Borrowings	-138.8	-462.7	-152.3	-149.1
Repayment of Finance Leases	—	0.0	0.0	0.0
Dividends Paid	—	-6.9	-4.1	-15.4
Other Financing Receipts	—	0.0	0.0	0.0
Other Financing Payments	—	0.0	0.0	0.0
Net Cash Flow from Financing Activities	55.3	301.4	107.7	-27.4
Net Cash Flow During the Period	27.4	-71.0	43.0	9.1
Cash and Cash Equivalents at Beginning of Period	5.1	76.2	33.2	24.1
FX Difference from Revaluation	—	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	32.6	5.1	76.2	33.2

Item	Q4'25	Q3'25	Q2'25	Q1'25
Revenue	35.1	105.4	78.8	50.4
Revenue Deductions	—	—	—	0.0
Net Revenue	35.1	105.4	78.8	50.4
Cost of Goods Sold	27.2	63.4	46.8	30.2
Gross Profit	7.9	42.0	31.9	20.2
Financial Income	0.6	0.3	0.0	0.0
Financial Expenses	3.2	3.2	3.0	2.9
Interest Expense	3.2	3.1	2.9	2.8
Share of Associates and Joint Ventures	—	—	—	0.0
Selling Expenses	1.1	3.2	1.1	1.0
General and Administrative Expenses	5.3	5.5	5.2	4.1
Operating Profit	-1.0	30.4	22.7	12.4
Other Income	0.2	0.2	0.2	0.4
Other Expenses	0.5	0.4	0.1	0.1
Other Profit	-0.2	-0.2	0.1	0.3
Profit Before Tax	-1.3	30.3	22.8	12.7
Current Income Tax Expense	1.3	5.2	4.4	2.5
Deferred Income Tax Expense	0.3	0.9	0.1	0.2
Net Income	-2.9	24.1	18.3	10.0
Non-controlling Interest	—	—	—	0.0
Profit Attributable to Parent	-2.9	24.1	18.3	10.0
Earnings per Share	-105.00	882.00	1,067.00	582.00
Diluted EPS	-105.05	882.38	1,067.33	582.00

Item	Q4'25	Q3'25	Q2'25	Q1'25
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	1,000.1	1,030.5	990.4	981.1
I. Cash and cash equivalents	32.6	68.8	15.8	7.3
1. Cash	9.5	9.7	12.8	7.3
2. Cash equivalents	23.1	59.0	3.0	0.0
II. Short-term financial investments	16.0	—	—	0.0
1. Available for sale securities	—	—	—	0.0
2. Provision for diminution in value of available for sale securities (*)	—	—	—	0.0
3. Held to maturity investments	16.0	—	—	0.0
III. Short-term receivables	34.3	56.1	53.1	54.7
1. Short-term trade accounts receivable	36.0	52.7	46.5	50.9
2. Short-term prepayments to suppliers	0.1	2.3	5.5	1.4
3. Short-term inter-company receivables	—	—	—	0.0
4. Construction contract progress receipts due from customers	—	—	—	0.0
5. Short-term loan receivables	—	—	—	0.0
6. Other short-term receivables	0.7	1.5	1.5	2.8
7. Provision for short-term doubtful debts (*)	-2.4	-0.4	-0.4	-0.4
8. Assets awaiting resolution	—	—	—	0.0
IV. Inventories	915.9	905.3	920.0	915.1
1. Inventories	915.9	905.3	920.0	915.1
2. Provision for decline in value of inventories	—	—	—	0.0
V. Other short-term assets	1.2	0.3	1.5	4.0
1. Short-term prepayments	0.7	—	1.5	1.5
2. Value added tax to be reclaimed	0.5	0.3	—	0.8
3. Taxes and other receivables from state authorities	—	—	—	1.8
4. Government bonds	—	—	—	0.0
5. Other short-term assets	—	—	—	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	341.9	340.8	341.8	341.4
I. Long-term receivables	4.2	4.2	4.2	4.2
1. Long-term trade receivables	—	—	—	0.0
2. Long-term prepayments to suppliers	—	—	—	0.0
3. Capital at inter-company	—	—	—	0.0
4. Long-term inter-company receivables	—	—	—	0.0
5. Long-term loan receivables	—	—	—	0.0
6. Other long-term receivables	4.2	4.2	4.2	4.2
7. Provision for long-term doubtful debts	—	—	—	0.0
II. Fixed assets	12.6	12.8	13.0	13.2
1. Tangible fixed assets	9.9	10.1	10.3	10.5
- Cost	—	—	—	25.4
- Accumulated depreciation	—	—	—	-14.9
2. Financial leased fixed assets	—	—	—	0.0
- Cost	—	—	—	0.0
- Accumulated depreciation	—	—	—	0.0
3. Intangible fixed assets	2.7	2.7	2.7	2.7
- Cost	—	—	—	0.0
- Accumulated depreciation	—	—	—	0.0
III. Investment properties	—	—	—	0.0
- Cost	—	—	—	0.0
- Accumulated depreciation	—	—	—	0.0
IV. Long-term assets in progress	318.0	316.4	316.3	315.6
1. Long-term production in progress	317.9	316.3	316.2	315.5
2. Construction in progress	0.1	0.1	0.1	0.1
V. Long-term financial investments	6.8	6.8	6.8	6.8
1. Investments in subsidiaries	—	—	—	0.0
2. Investments in associates, joint-ventures	—	—	—	0.0
3. Investments in other entities	6.8	6.8	6.8	6.8
4. Provision for diminution in value of long-term investments	—	—	—	0.0
5. Held to maturity investments	—	—	—	0.0
6. Other long-term investments	—	—	—	0.0
VI. Other long-term assets	0.3	0.6	1.5	1.7
1. Long-term prepayments	—	—	—	0.0
2. Deferred income tax assets	0.3	0.6	1.5	1.7
3. Long-term equipment, supplies, spare parts	—	—	—	0.0
4. Other long-term assets	—	—	—	0.0
5. Goodwill	—	—	—	0.0
VII. Goodwill (before 2015)	—	—	—	0.0
TOTAL ASSETS (280=100+200)	1,342.0	1,371.2	1,332.2	1,322.5
A. LIABILITIES (300=210+330)	952.5	978.9	964.0	970.1
I. Short -term liabilities	282.6	287.3	275.3	284.8
1. Short-term trade accounts payable	20.0	15.2	16.4	19.2
2. Short-term advances from customers	27.1	38.0	49.2	62.8
3. Taxes and other payables to state authorities	5.5	5.6	2.9	0.1
4. Payable to employees	2.0	0.6	0.7	0.6
5. Short-term acrrued expenses	0.1	4.4	7.0	5.8
6. Short-term inter-company payables	—	—	—	0.0
7. Construction contract progress payments due to suppliers	—	—	—	0.0
8. Short-term unearned revenue	—	—	—	0.0
9. Other short-term payables	14.1	15.9	11.1	10.2
10. Short-term borrowings and financial leases	213.7	207.2	186.1	186.1
11. Provision for short-term liabilities	—	—	—	0.0
12.. Bonus and welfare fund	0.1	0.4	2.0	0.0
13. Price stabilization fund	—	—	—	0.0
14. Government bonds	—	—	—	0.0
II. Long-term liabilities	669.9	691.6	688.7	685.2
1. Long-term trade payables	—	—	—	0.0
2. Long-term advances from customers	—	—	—	0.0
3. Long-term acrrued expenses	—	—	—	0.0
4. Inter-company payables on business capital	—	—	—	0.0
5. Long-term inter-company payables	—	—	—	0.0
6. Long-term unearned revenue	—	—	—	0.0
7. Other long-term liabilities	291.8	291.7	291.7	291.7
8. Long-term borrowings and financial leases	378.1	399.9	397.0	393.5
9. Convertible bonds	—	—	—	0.0
10. Preferred stock (Debts)	—	—	—	0.0
11. Deferred income tax liabilities	—	—	—	0.0
12. Provision for long-term liabilities	—	—	—	0.0
13. Fund for technology development	—	—	—	0.0
14. Provision for severance allowances	—	—	—	0.0
B. OWNER'S EQUITY (400=410+430)	389.4	392.3	368.2	352.5
I. Owner's equity	389.4	392.3	368.2	352.5
1. Owner's capital	273.6	273.6	171.0	171.0
- Common stock with voting right	273.6	273.6	171.0	171.0
- Preferred stock	—	—	—	0.0
2. Share premium	9.0	9.0	9.0	9.0
3. Convertible bond option	—	—	—	0.0
4. Other capital of owners	1.0	1.0	1.0	1.0
5. Treasury shares	—	—	—	0.0
6. Assets revaluation differences	—	—	—	0.0
7. Foreign exchange differences	—	—	—	0.0
8. Investment and development fund	18.5	18.5	18.5	18.5
9. Fund to support corporate restructuring	—	—	—	0.0
10. Other funds from owner's equity	—	—	—	0.0
11. Undistributed earnings after tax	87.3	90.2	168.6	152.9
- Accumulated retained earning at the end of the previous period	37.6	37.6	140.2	143.0
- Undistributed earnings in this period	49.7	52.5	28.4	10.0
12. Reserves for investment in construction	—	—	—	0.0
13. Minority's interest	—	—	—	0.0
14. Financial reserves	—	—	—	0.0
II. Other resources and funds	—	—	—	0.0
1. Subsidized not-for-profit funds	—	—	—	0.0
2. Funds invested in fixed assets	—	—	—	0.0
C. MINORITY'S INTEREST	—	—	—	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	1,342.0	1,371.2	1,332.2	1,322.5

Item	Q4'25	Q3'25	Q2'25	Q1'25
Profit Before Tax	-1.3	30.3	22.8	12.7
Depreciation of Fixed Assets and Investment Property	0.2	0.2	0.2	0.2
Provision (Increase)/Reversal	2.1	—	—	0.0
FX Gain/Loss from Revaluation of Monetary Items	—	—	—	0.0
Gain/Loss from Investment Activities	-0.6	-0.3	-0.0	-0.0
Interest Expense	3.2	3.1	2.9	2.8
Gain/Loss on Disposal of Fixed Assets	—	—	—	0.0
Interest Income and Dividends	—	—	—	0.0
Amortization of Goodwill	—	—	—	0.0
Other Adjustments	—	—	—	0.0
Operating Profit Before Changes in Working Capital	3.5	33.3	26.0	15.7
Increase/(Decrease) in Receivables	19.7	-3.3	2.4	7.8
Increase/(Decrease) in Inventory	-5.5	21.2	0.5	4.6
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-9.4	-10.3	-14.2	-37.9
Increase/(Decrease) in Prepaid Expenses	-0.7	1.5	—	0.0
Changes in Trading Securities	—	—	—	0.0
Interest Paid	-11.9	-9.2	-8.8	-4.8
Corporate Income Tax Paid	-0.7	-3.0	0.0	-24.6
Other Operating Receipts	—	—	—	0.0
Other Operating Payments	-0.3	-1.5	-0.8	-2.0
Net Cash Flow from Operating Activities	-5.4	28.7	5.1	-41.0
Payments for Fixed Assets and Other Long-term Assets	—	—	—	0.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	—	—	0.0
Loans and Purchases of Debt Instruments	-16.0	—	—	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	—	—	0.0
Investments in Other Entities	—	—	—	0.0
Proceeds from Investments in Other Entities	—	—	—	0.0
Dividends and Interest Income Received	0.5	0.2	0.0	0.0
Increase/(Decrease) in Term Deposits	—	—	—	0.0
Acquisition of Non-controlling Interests	—	—	—	0.0
Other Investing Receipts	—	—	—	0.0
Other Investing Payments	—	—	—	0.0
Net Cash Flow from Investing Activities	-15.5	0.2	0.0	0.0
Proceeds from Equity Issuance and Capital Contributions	—	—	—	0.0
Share Repurchases	—	—	—	0.0
Proceeds from Borrowings	23.0	40.3	65.0	65.8
Repayment of Borrowings	-38.3	-16.3	-61.6	-22.6
Repayment of Finance Leases	—	—	—	0.0
Dividends Paid	—	—	—	0.0
Other Financing Receipts	—	—	—	0.0
Other Financing Payments	—	—	—	0.0
Net Cash Flow from Financing Activities	-15.3	24.0	3.4	43.2
Net Cash Flow During the Period	-36.2	53.0	8.5	2.2
Cash and Cash Equivalents at Beginning of Period	68.8	15.8	7.3	5.1
FX Difference from Revaluation	—	—	—	0.0
Cash and Cash Equivalents at End of Period	32.6	68.8	15.8	7.3

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