LLM

Tổng Công ty Lắp máy Việt Nam - CTCP ·UPCOM ·2026Q1

▲ Showing improvement

Operating efficiency is improving Net margin 9.98%, +8.67pp YoY

Price

20,500

Latest close

02 Jun 2026

P/E 4.19x

P/B 1.05x

EPS 4,891

BVPS 19,526

ROE 30.2%

ROA 5.2%

Profit Margin 9.8%

Asset Turnover 0.54x

Equity Mult. 5.77x

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

What Is Changing

On a TTM 2026Q1 basis, LLM posted a sharp profit increase versus the same period, suggesting a clear improvement from a low base — profit is at an all-time high. However, a significant portion of profit is supported by non-core sources, making the picture not entirely clear.

	                            
	                                TTM REVENUE
	                            
	                                    VND 3,994bn
	                                
−41.1%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 399bn
	                                
+347.5%YoY

	                            
	                                Non-core income / PBT
	                            
	                                    41.6%

Metric	2025	2024	2023	2022	2021
Revenue	5,432.6	6,101.3	5,079.0	2,892.1	3,825.1
Growth	-11%	+20%	+76%	-24%	—
Net Income	473.4	79.2	-19.5	-54.3	-19.7
Net Margin	8.71%	1.30%	-0.38%	-1.88%	-0.52%

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	900.4	1,712.9	668.2	712.4	2,326.8	1,008.6	1,747.9	1,694.6	1,650.8	2,430.2	1,370.6	855.2
Growth	-47%	+156%	-6%	-69%	+131%	-42%	+3%	+3%	-32%	+77%	+60%	—
Net Income	141.5	147.9	96.1	13.1	50.0	8.8	12.7	17.6	33.9	26.0	4.2	-45.0
Net Margin	15.72%	8.64%	14.37%	1.84%	2.15%	0.87%	0.73%	1.04%	2.05%	1.07%	0.31%	-5.26%

Drivers of LLM's profit

TTM

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

Gross profit ↑ 198.0bn

Other profit ↑ 169.6bn

Administrative expenses ↓ 48.6bn

TTM

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

Gross profit ↑ 108.9bn

Other profit ↑ 51.8bn

Finance costs ↓ 16.7bn

Financial income ↑ 6.8bn

Minority interests ↑ 27.5bn

Administrative expenses ↑ 18.3bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 8.9% = 1.3% × 0.98 × 6.91

2026Q1 30.8% = 10.0% × 0.54 × 5.77

ROE rose from 8.9% to 30.8% — mainly driven by net margin, despite asset turnover and leverage moving in the opposite direction.

Net margin: 10.0% +8.7pp Asset turnover: 0.54x -0.44x Leverage: 5.77x -1.14x

Is the profit sustainable?

Margins improved (+8.7pp), but earnings still rely significantly on non-core sources — warrants closer scrutiny.

very positive positive stable watch under pressure

What is driving the margin?

Net margin expanded to 9.98%, rising 8.7pp. Core operating signals are improving as Gross margin rose 6.3pp are enough to offset pressure from SG&A / Revenue rose 1.1pp (with additional support from Other profit / Revenue rose 4.5pp and Net financial result / Revenue rose 0.5pp).

Margin improves from both core operations and non-core items — the core foundation is positive, but the sustainability of non-core contributions needs monitoring.

Profitability trend

Net Margin 9.98% +8.7pp

Gross Margin 8.33% +6.3pp

SG&A / Revenue 2.36% +1.1pp

Non-core / Revenue 5.67% +5.1pp

TTM YoY · 2025Q1 -> 2026Q1

Watchpoints

Other income is supporting margin

Other income accounts for 48.0% of PBT and lifted net margin by 5.1pp — separate the operating contribution from this source.

Is capital being used efficiently?

Capital efficiency for construction contractors should be read alongside project progress and receivables collection from developers — ROIC of -51.8% fluctuates with handover cycles.

Is capital being deployed efficiently?

ROIC fell to -51.75%, losing 16.6pp. That translates to -51.75 in after-tax operating profit for every 100 units of operating capital. ROIC is under pressure as NOPAT margin rose 5.9pp and capital turnover rose 29.62x have not provided enough support.

For construction contractors, ROIC moves with backlog and project acceptance timing — this is a reference signal and should be read alongside working-capital cycles.

CAPITAL EFFICIENCY TREND

ROIC -51.75% −16.6pp

NOPAT Margin 6.89% +5.9pp

Capital Turnover -7.51x +29.62x

Average Invested Capital 531.8bn −349.3bn

Balance Sheet

ROIC for construction contractors swings with project progress and handover cycles — the balance sheet below adds perspective. Leverage runs above the construction contractors average — project acceptance cycles warrant monitoring — liabilities at 4.19x equity, with a net cash position equivalent to 1.34x equity.

Inventory ended the period at 763.1bn, roughly 10.4% of total assets.

Over the last 12 months, working capital absorbed 142.6bn of cash, mainly because of lower payables. Part of that drag was offset by lower receivables and lower inventories.

Working Capital Drivers

Receivables decreased → higher CFO: +824.9bn

Inventories decreased → higher CFO: +23.7bn

Payables decreased → lower CFO: −991.2bn

Working Capital Efficiency

The inventory build-up noted above is reflected in a longer cash cycle. Cash conversion cycle lengthened by 91.0 days versus the same period last year. The main moves came from DIO rose 21.2 days, DSO rose 116.0 days, and DPO rose 46.2 days.

Working capital cycle lengthened mainly due to slower receivables collection — receivables quality needs monitoring.

For construction contractors, DSO/DIO/DPO/CCC can be distorted by project progress, work-in-progress receivables, and milestone acceptance timing — these metrics should be read alongside developer payment cycles.

Watchpoints

Cash conversion cycle remains stretched

CCC stands at 162.4 days, suggesting that working capital remains tied up for a relatively long operating cycle.

Receivables collection is slowing

DSO increased by +116.0 days, pointing to slower receivables turnover.

Working Capital Efficiency

Receivables 249.3 days +116.0 days

Inventory 46.4 days +21.2 days

Payables 133.3 days +46.2 days

Cash Conversion Cycle 162.4 days +91.0 days

Is financial risk significant?

Check leverage, liquidity, and cash-flow conversion.

Leverage & Liquidity

Leverage is balanced for now, with net debt / equity at -1.34x and interest coverage at 2.43x.

At present, short-term debt accounts for 100.0% of total debt, cash equals 338.4% of debt, and total debt stands at 873.3bn.

Leverage for construction contractors fluctuates with project working capital, performance guarantees, and progress receivables — should be read alongside receivables quality and developer payment cycles.

Watchpoints

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 -1.34x +0.19x

Interest Coverage 2.43x +1.88x

Cash / Debt 338.4% +133.2pp

Short-term Debt / Total Debt 100.0% +0.1pp

CFO / NI 1.77x −5.23x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

Operating cash flow reached -5.7bn in 2025, against investing cash flow of 46.4bn.

Post-investment cash flow was positive +40.7bn. Financing cash flow was negative +360.0bn.

CFO / net income was 1.77x.

After spending +14.2bn on fixed-asset investment, the business generated trailing free cash flow of +676.8bn.

For construction contractors, FCF swings sharply with project progress and payment cycles — should be read alongside backlog and receivables quality.

Cash Conversion

CFO TTM 691.0bn −24.1bn

Cash Capex 14.2bn +13.3bn

FCF TTM +676.8bn −37.4bn

Investment Takeaway

The business is showing brightening signals, but the improvement is still early and not yet thick enough to read as a confirmed trend. The brighter spot is operating efficiency, with net margin improving 8.7 pp. The next item to monitor is the earnings mix, when non-core contribution is 6.4%.

Improvement: operating efficiency is getting better, with trailing-12M net margin at 9.98% after expanding 8.7pp versus the same period last year.

Watchpoint: cash flow is currently keeping pace with accounting earnings, with CFO / net income at 1.77x. Even so, net financial result still accounts for 6.4% of PBT, so the earnings mix still needs monitoring.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	5,432.6	6,101.3	5,079.0	2,892.1	3,825.1
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	5,432.6	6,101.3	5,079.0	2,892.1	3,825.1
Cost of Goods Sold	5,052.3	5,995.3	4,959.4	2,801.9	0.0
Gross Profit	380.3	106.0	119.6	90.2	201.3
Financial Income	140.0	147.2	139.2	116.8	57.1
Financial Expenses	132.9	132.4	131.0	134.2	-150.7
Interest Expense	62.5	91.2	94.1	90.7	-90.5
Share of Associates and Joint Ventures	8.3	1.3	-22.4	-54.2	-1.2
Selling Expenses	—	0.0	0.0	0.0	-0.0
General and Administrative Expenses	32.8	56.0	119.8	40.4	-105.1
Operating Profit	362.9	66.1	-14.4	-21.8	1.4
Other Income	210.0	29.5	11.7	7.5	0.0
Other Expenses	6.7	12.8	9.4	14.5	0.0
Other Profit	203.3	16.7	2.3	-7.0	8.6
Profit Before Tax	566.2	82.8	-12.1	-28.8	10.0
Current Income Tax Expense	91.8	1.4	1.6	18.8	-29.7
Deferred Income Tax Expense	1.0	2.1	5.8	6.7	0.0
Net Income	473.4	79.2	-19.5	-54.3	-19.7
Non-controlling Interest	-18.7	-13.5	-23.7	-29.0	-35.2
Profit Attributable to Parent	492.0	92.7	4.2	-25.2	15.4
Earnings per Share	6,172.00	1,163.00	53.00	-317.00	89.00
Diluted EPS	6,171.63	1,162.66	52.98	-316.68	193.40

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	6,533.1	5,257.7	5,541.1	5,330.7	6,447.4
I. Cash and cash equivalents	2,699.2	2,976.5	2,738.0	2,600.6	1,228.7
1. Cash	1,708.6	1,538.8	1,305.6	1,248.8	0.0
2. Cash equivalents	990.5	1,437.7	1,432.5	1,351.8	0.0
II. Short-term financial investments	6.5	6.4	5.8	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	6.5	6.4	5.8	0.0	0.0
III. Short-term receivables	2,957.0	1,717.0	2,294.6	1,937.1	4,154.5
1. Short-term trade accounts receivable	2,895.5	1,403.7	1,762.0	1,464.9	0.0
2. Short-term prepayments to suppliers	436.9	716.6	923.8	845.7	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	353.5	359.3	363.3	369.3	0.0
6. Other short-term receivables	460.3	470.9	484.6	450.8	0.0
7. Provision for short-term doubtful debts (*)	-1,189.3	-1,233.5	-1,239.1	-1,193.6	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	763.1	439.3	433.1	737.4	973.3
1. Inventories	763.1	439.3	433.1	737.4	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	107.4	118.6	69.6	55.6	87.5
1. Short-term prepayments	0.7	1.1	1.3	1.4	0.0
2. Value added tax to be reclaimed	90.3	47.3	31.0	14.4	0.0
3. Taxes and other receivables from state authorities	16.4	70.3	37.3	39.9	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)	820.7	858.8	829.0	872.9	949.0
I. Long-term receivables	0.2	8.7	8.7	8.8	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	8.7
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	0.2	8.7	8.7	8.8	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	114.7	119.8	132.7	148.9	170.2
1. Tangible fixed assets	96.3	101.0	113.4	127.5	134.8
- Cost	723.3	726.6	732.8	732.8	0.0
- Accumulated depreciation	-626.9	-625.6	-619.4	-605.3	0.0
2. Financial leased fixed assets	2.1	2.5	2.9	5.1	19.1
- Cost	3.5	3.5	3.5	7.0	0.0
- Accumulated depreciation	-1.5	-1.0	-0.6	-1.9	0.0
3. Intangible fixed assets	16.3	16.3	16.4	16.3	16.3
- Cost	18.5	18.5	18.5	18.4	0.0
- Accumulated depreciation	-2.2	-2.2	-2.1	-2.1	0.0
III. Investment properties	10.8	13.1	15.4	17.7	20.0
- Cost	57.1	57.1	57.1	57.1	0.0
- Accumulated depreciation	-46.3	-44.0	-41.7	-39.4	0.0
IV. Long-term assets in progress	39.2	36.8	31.9	40.8	40.8
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	39.2	36.8	31.9	40.8	0.0
V. Long-term financial investments	556.3	550.7	552.5	577.1	636.5
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	330.8	322.5	321.2	343.6	0.0
3. Investments in other entities	255.2	255.2	255.2	255.2	0.0
4. Provision for diminution in value of long-term investments	-30.2	-27.3	-24.1	-22.1	0.0
5. Held to maturity investments	0.4	0.3	0.2	0.3	0.0
6. Other long-term investments	—	0.0	0.0	0.0	0.0
VI. Other long-term assets	99.5	129.6	87.7	79.5	0.0
1. Long-term prepayments	99.5	129.6	87.7	79.5	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	72.8
5. Goodwill	—	0.0	0.0	0.1	0.0
VII. Goodwill (before 2015)	—	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	7,353.8	6,116.5	6,370.1	6,203.6	7,396.4
A. LIABILITIES (300=210+330)	5,937.8	5,138.3	5,426.6	5,223.2	6,342.9
I. Short -term liabilities	5,312.5	4,685.1	5,315.3	5,148.5	6,292.9
1. Short-term trade accounts payable	1,475.3	1,499.6	1,898.1	2,086.4	3,875.4
2. Short-term advances from customers	461.3	320.8	454.4	866.2	112.5
3. Taxes and other payables to state authorities	71.8	5.7	6.5	23.2	0.0
4. Payable to employees	95.3	96.9	87.0	42.2	0.0
5. Short-term acrrued expenses	1,471.8	873.7	849.1	639.3	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	1.1	0.8	0.8	0.9	0.7
9. Other short-term payables	296.7	311.6	272.3	261.0	0.0
10. Short-term borrowings and financial leases	998.2	1,329.7	1,623.1	1,120.8	1,530.8
11. Provision for short-term liabilities	386.3	188.6	63.2	48.1	0.0
12.. Bonus and welfare fund	54.8	57.9	60.7	60.5	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	625.2	453.2	111.3	74.8	50.0
1. Long-term trade payables	—	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	1.6	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	13.1	13.7	14.4	15.0	15.7
7. Other long-term liabilities	1.2	1.2	1.2	0.9	0.0
8. Long-term borrowings and financial leases	0.4	1.1	1.8	2.6	0.6
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	16.8	15.8	13.7	7.9	0.0
12. Provision for long-term liabilities	593.8	421.4	80.3	46.8	0.0
13. Fund for technology development	—	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	1,416.0	978.2	943.5	980.3	1,053.5
I. Owner's equity	1,416.3	978.5	943.8	980.6	0.0
1. Owner's capital	797.3	797.3	797.3	797.3	1,054.1
- Common stock with voting right	797,261,040,000.00	797,261,040,000.00	797,261,040,000.00	797,261,040,000.00	797,261,040,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	—	0.0	0.0	0.0	0.0
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	1.1	1.1	1.1	1.1	1.7
5. Treasury shares	—	0.00	0.00	0.00	0.00
6. Assets revaluation differences	-32.4	-32.4	-32.4	-32.4	0.0
7. Foreign exchange differences	-3.2	-7.5	-10.9	-10.8	0.0
8. Investment and development fund	125.0	107.9	91.8	83.8	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	0.0
11. Undistributed earnings after tax	618.3	183.1	154.4	174.6	215.8
- Accumulated retained earning at the end of the previous period	126.2	90.4	150.2	199.8	199.1
- Undistributed earnings in this period	492.0	92.7	4.2	-25.2	16.7
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	-89.8	-71.1	-57.6	-33.0	-5.8
14. Financial reserves	—	0.0	0.0	0.0	0.0
II. Other resources and funds	-0.3	-0.3	-0.3	-0.3	-0.6
1. Subsidized not-for-profit funds	-0.3	-0.3	-0.3	-0.3	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)	7,353.8	6,116.5	6,370.1	6,203.6	7,396.4

Item	2025	2024	2023	2022	2021
Profit Before Tax	566.2	82.8	-12.1	-28.8	9.8
Depreciation of Fixed Assets and Investment Property	15.1	16.1	22.8	24.9	29.0
Provision (Increase)/Reversal	328.8	463.9	96.3	26.8	0.0
FX Gain/Loss from Revaluation of Monetary Items	-22.5	-41.3	-4.0	20.9	0.0
Gain/Loss from Investment Activities	-61.8	-67.7	-66.1	-8.4	0.0
Interest Expense	62.5	91.2	94.1	90.7	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	888.3	545.0	131.0	126.1	151.5
Increase/(Decrease) in Receivables	-1,209.6	568.7	-389.6	2,346.4	0.0
Increase/(Decrease) in Inventory	-323.8	-6.2	304.3	235.1	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	669.1	-496.5	-380.9	-849.6	0.0
Increase/(Decrease) in Prepaid Expenses	30.5	-41.7	-5.8	-11.5	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-45.0	-73.6	-74.6	-63.5	0.0
Corporate Income Tax Paid	-0.4	-2.0	-20.6	-30.2	0.0
Other Operating Receipts	—	0.0	0.0	3.2	0.0
Other Operating Payments	-14.9	-14.8	-6.2	-12.6	0.0
Net Cash Flow from Operating Activities	-5.7	479.0	-442.4	1,743.4	400.8
Payments for Fixed Assets and Other Long-term Assets	-10.0	-1.4	-3.2	-4.5	-1.2
Proceeds from Disposal of Fixed Assets and Long-term Assets	1.2	1.2	1.2	5.3	0.7
Loans and Purchases of Debt Instruments	-8.1	-6.5	-5.8	0.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	13.6	9.9	6.1	11.3	0.0
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	49.7	57.1	79.9	40.8	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	46.4	60.3	78.2	53.0	22.0
Proceeds from Equity Issuance and Capital Contributions	—	0.00	0.00	0.00	0.00
Share Repurchases	—	0.00	-478,858,698.00	0.00	0.00
Proceeds from Borrowings	1,842.1	3,825.1	3,592.5	1,700.2	2,555.4
Repayment of Borrowings	-2,173.6	-4,118.5	-3,089.6	-2,105.8	-2,623.6
Repayment of Finance Leases	-0.7	-0.7	-1.4	-2.4	-3.8
Dividends Paid	-27.8	-35.8	-8.1	-7.9	-16.2
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	-360.0	-329.9	493.0	-416.0	-88.2
Net Cash Flow During the Period	-319.3	209.4	128.7	1,380.4	52.5
Cash and Cash Equivalents at Beginning of Period	2,976.5	2,738.0	2,600.6	1,228.7	895.9
FX Difference from Revaluation	42.0	29.1	8.8	-8.5	-1.8
Cash and Cash Equivalents at End of Period	2,699.2	2,976.5	2,738.0	2,600.6	1,228.7

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	900.4	1,712.9	668.2	712.4	2,326.8	1,008.6	1,747.9	1,694.6	1,650.8	2,430.2	1,370.6	855.2
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	900.4	1,712.9	668.2	712.4	2,326.8	1,008.6	1,747.9	1,694.6	1,650.8	2,430.2	1,370.6	855.2
Cost of Goods Sold	745.1	1,616.4	611.6	688.2	2,280.3	1,065.9	1,660.2	1,636.8	1,594.6	2,354.9	1,294.2	901.6
Gross Profit	155.3	96.5	56.6	24.2	46.5	-57.3	87.7	57.8	56.1	75.2	76.4	-46.4
Financial Income	26.7	-1.8	55.0	63.5	19.9	75.5	-21.1	58.4	34.4	20.0	47.4	41.3
Financial Expenses	11.2	16.6	21.7	63.8	27.9	21.7	39.7	29.0	38.1	36.1	27.7	28.5
Interest Expense	9.6	12.0	13.2	17.2	20.2	18.1	23.2	24.7	24.5	24.3	23.6	24.5
Share of Associates and Joint Ventures	3.1	1.4	5.8	-3.0	3.8	7.5	-2.1	-5.4	-4.0	2.9	-6.8	-10.0
Selling Expenses	55.4	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
General and Administrative Expenses	22.7	13.0	-7.6	10.6	4.4	7.0	14.3	61.7	13.6	34.0	84.8	-2.6
Operating Profit	95.7	66.4	103.2	10.3	37.9	-3.0	10.5	20.0	34.8	28.0	4.5	-40.9
Other Income	66.3	130.5	0.8	5.0	14.8	20.0	4.8	1.1	1.7	4.2	3.0	0.1
Other Expenses	2.1	1.3	1.5	1.5	2.4	8.3	1.3	1.9	1.3	4.2	2.3	1.3
Other Profit	64.2	129.2	-0.7	3.5	12.4	11.7	3.4	-0.8	0.5	-0.0	0.7	-1.2
Profit Before Tax	160.0	195.6	102.5	13.8	50.3	8.7	13.9	19.2	35.3	28.0	5.2	-42.1
Current Income Tax Expense	18.4	47.3	6.9	—	—	0.3	0.9	0.3	0.0	0.2	-0.2	1.6
Deferred Income Tax Expense	0.0	0.4	-0.4	0.7	0.2	-0.3	0.4	1.3	1.4	1.7	1.1	1.2
Net Income	141.5	147.9	96.1	13.1	50.0	8.8	12.7	17.6	33.9	26.0	4.2	-45.0
Non-controlling Interest	25.6	-13.1	-2.1	-1.7	-1.9	-6.0	-2.3	-2.9	-2.1	-6.8	-3.5	-7.7
Profit Attributable to Parent	115.9	161.0	98.2	14.8	51.9	14.8	14.9	20.6	36.0	32.8	7.7	-37.3
Earnings per Share	1,454.00	2,020.00	1,232.00	185.00	651.00	185.00	187.00	258.00	451.00	412.00	97.00	-467.00
Diluted EPS	1,453.88	2,020.02	1,231.76	185.08	650.96	185.05	187.24	257.84	451.04	411.91	96.76	-467.42

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)	6,322.9	6,561.7	6,654.5	6,615.7	6,945.4	5,317.8	5,784.5	5,359.8	5,291.2	5,562.3	5,022.5	5,047.5
I. Cash and cash equivalents	2,955.2	2,700.9	2,671.9	3,230.1	3,056.8	2,976.5	2,781.2	2,462.2	2,375.5	2,738.0	2,429.2	2,323.0
1. Cash	1,489.2	1,710.4	1,467.6	1,374.4	1,128.6	1,538.8	1,739.3	1,343.4	957.0	1,305.6	1,152.7	1,000.8
2. Cash equivalents	1,466.1	990.5	1,204.3	1,855.8	1,928.2	1,437.7	1,041.9	1,118.8	1,418.5	1,432.5	1,276.5	1,322.3
II. Short-term financial investments	306.5	6.6	6.5	6.5	6.6	6.5	5.8	5.8	5.8	5.8	5.6	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	660.0	6.6	6.5	6.5	6.6	6.5	5.8	5.8	5.8	5.8	5.6	0.0
4. Provision for short-term investments held to maturity (*)	-353.5	—	—	—	—	—	—	—	—	—	—	—
III. Short-term receivables	2,516.5	2,990.4	3,076.3	2,879.8	3,377.7	1,717.9	2,548.5	2,444.7	2,380.7	2,304.3	1,893.3	1,888.5
1. Short-term trade accounts receivable	2,408.7	2,925.8	2,683.9	2,423.5	3,048.3	1,445.1	2,126.0	2,096.3	1,905.5	1,761.4	1,142.7	1,238.1
2. Short-term prepayments to suppliers	474.5	438.5	760.9	841.2	727.7	718.0	811.1	806.2	868.8	923.8	1,097.3	954.6
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	—	353.5	353.8	358.2	358.2	359.3	363.3	363.3	363.3	363.3	363.3	363.3
6. Other short-term receivables	472.0	456.7	474.0	472.4	467.2	470.8	532.3	463.4	482.2	484.7	503.5	472.6
7. Provision for short-term doubtful debts (*)	-838.6	-1,184.1	-1,196.3	-1,215.5	-1,223.7	-1,275.3	-1,284.2	-1,284.6	-1,239.1	-1,228.9	-1,213.5	-1,140.2
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	453.2	756.6	829.0	464.8	476.9	498.3	373.9	362.6	438.0	444.6	628.7	745.9
1. Inventories	453.2	756.6	829.0	464.8	476.9	498.3	373.9	362.6	438.0	444.6	628.7	745.9
2. Provision for decline in value of inventories	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
V. Other short-term assets	91.4	107.2	70.8	34.4	27.4	118.6	75.1	84.5	91.1	69.6	65.7	90.2
1. Short-term prepayments	0.8	0.7	1.1	2.3	0.6	1.1	1.5	1.8	0.6	1.3	2.0	3.5
2. Value added tax to be reclaimed	45.1	90.3	51.5	7.9	0.0	47.3	17.4	36.7	43.9	30.7	13.8	37.4
3. Taxes and other receivables from state authorities	45.5	16.3	18.2	24.2	26.7	70.3	56.3	46.0	46.7	37.6	49.9	49.3
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)	820.5	823.5	824.6	829.5	841.4	861.1	782.8	792.6	811.3	837.3	851.1	852.1
I. Long-term receivables	0.2	0.6	0.6	0.6	0.6	8.7	8.7	8.7	8.7	8.7	8.8	8.8
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	0.2	0.6	0.6	0.6	0.6	8.7	8.7	8.7	8.7	8.7	8.8	8.8
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	108.1	114.6	115.9	118.6	116.7	119.8	123.0	126.4	129.5	132.7	136.6	140.7
1. Tangible fixed assets	94.7	96.2	97.4	100.0	98.0	101.0	104.0	107.3	110.3	113.4	115.9	119.8
- Cost	692.5	—	—	—	—	727.1	726.8	726.8	726.3	733.0	730.3	732.4
- Accumulated depreciation	-597.8	—	—	—	—	-626.1	-622.8	-619.5	-616.0	-619.6	-614.4	-612.6
2. Financial leased fixed assets	2.0	2.1	2.2	2.3	2.4	2.5	2.6	2.7	2.8	2.9	4.3	4.7
- Cost	3.5	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-1.6	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	11.5	16.3	16.3	16.3	16.3	16.3	16.4	16.4	16.4	16.4	16.4	16.3
- Cost	13.7	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-2.2	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	10.2	10.8	11.4	12.0	12.5	13.1	13.7	14.3	14.8	15.4	16.0	16.6
- Cost	57.1	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-46.9	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	41.9	37.3	37.3	37.4	37.4	40.8	40.8	31.9	31.9	40.8	40.9	41.0
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	41.9	37.3	37.3	37.4	37.4	40.8	40.8	31.9	31.9	40.8	40.9	41.0
V. Long-term financial investments	559.3	558.8	557.4	551.6	554.6	549.0	541.5	543.0	548.4	552.5	549.8	558.3
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	333.8	330.5	329.1	323.3	326.3	317.7	310.2	311.7	317.2	319.2	316.3	324.8
3. Investments in other entities	255.2	255.2	255.2	255.2	255.2	255.2	255.2	255.2	255.2	255.2	255.2	255.2
4. Provision for diminution in value of long-term investments	-30.2	-27.3	-27.3	-27.3	-27.3	-24.1	-24.1	-24.1	-24.1	-22.1	-22.1	-22.1
5. Held to maturity investments	0.4	0.3	0.4	0.4	0.4	0.1	0.1	0.1	0.1	0.2	0.3	0.3
6. Other long-term investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VI. Other long-term assets	100.7	101.4	102.0	109.4	119.6	129.6	55.1	68.3	77.8	87.0	98.9	86.7
1. Long-term prepayments	100.7	101.4	102.0	109.4	119.6	129.6	55.1	68.3	77.8	87.0	98.9	86.7
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)	7,143.4	7,385.2	7,479.2	7,445.2	7,786.9	6,178.9	6,567.3	6,152.4	6,102.5	6,399.6	5,873.7	5,899.7
A. LIABILITIES (300=210+330)	5,586.6	6,123.0	6,365.2	6,411.6	6,758.2	5,205.4	5,566.7	5,165.6	5,122.5	5,460.6	4,950.0	4,976.9
I. Short -term liabilities	4,855.2	5,429.9	5,788.7	6,279.1	6,354.1	4,784.1	5,474.5	5,069.3	5,013.4	5,349.8	4,904.4	4,901.7
1. Short-term trade accounts payable	1,297.4	1,505.2	1,299.5	1,168.3	1,376.1	1,540.9	1,847.0	1,785.2	1,794.3	1,901.4	1,701.1	1,605.4
2. Short-term advances from customers	467.6	462.8	187.5	262.1	345.4	322.3	413.5	302.4	377.2	451.7	658.7	1,300.7
3. Dividends and profits payable	0.5	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	2.4	34.2	3.8	42.0	43.9	5.7	4.5	5.8	4.0	6.9	6.5	8.8
4. Payable to employees	76.7	85.4	129.9	126.0	111.9	91.8	76.6	95.9	92.5	84.9	59.3	51.4
5. Short-term acrrued expenses	1,459.8	1,546.5	2,035.6	2,536.7	2,409.9	1,068.8	1,296.7	910.9	788.1	884.8	600.7	477.6
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	0.8	1.1	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	1.0	0.9
9. Other short-term payables	291.7	296.5	319.5	290.2	295.1	312.1	282.4	290.6	275.7	272.4	275.4	271.1
10. Short-term borrowings and financial leases	873.3	998.2	1,204.9	1,243.8	1,488.8	1,329.7	1,419.3	1,535.4	1,567.2	1,623.1	1,472.1	1,084.2
11. Provision for short-term liabilities	331.7	445.2	550.6	551.7	235.3	54.3	75.5	78.3	61.4	63.2	68.8	40.1
12.. Bonus and welfare fund	53.3	54.8	56.7	57.5	47.0	57.9	58.1	64.0	52.2	60.7	61.0	61.5
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	731.4	693.1	576.4	132.5	404.0	421.3	92.3	96.3	109.0	110.8	45.6	75.2
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	12.9	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	1.2	13.1	13.2	13.4	13.6	13.7	14.1	14.4	14.2	14.4	14.5	15.0
7. Other long-term liabilities	0.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2	0.9
8. Long-term borrowings and financial leases	—	0.4	0.6	0.8	0.9	1.1	1.3	1.5	1.6	1.8	2.0	2.2
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	700.3	16.8	16.5	16.8	16.0	16.4	16.8	16.4	15.1	13.2	11.5	10.3
12. Provision for long-term liabilities	—	661.7	545.0	100.3	372.4	388.9	59.0	62.9	76.9	80.3	16.5	46.8
13. Fund for technology development	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	1,556.7	1,262.3	1,114.0	1,033.6	1,028.7	973.5	1,000.6	986.8	980.0	938.9	923.7	922.8
I. Owner's equity	1,556.7	1,262.5	1,114.3	1,033.9	1,029.0	973.8	1,000.9	987.1	980.3	939.2	924.0	923.1
1. Owner's capital	797.3	797.3	797.3	797.3	797.3	797.3	797.3	797.3	797.3	797.3	797.3	797.3
- Common stock with voting right	797,261,040,000.00	797,261,040,000.00	797,261,040,000.00	797,261,040,000.00	797,261,040,000.00	797,261,040,000.00	797,261,040,000.00	797,261,040,000.00	797,261,040,000.00	797,261,040,000.00	797,261,040,000.00	797,261,040,000.00
- Preferred stock	16,885,405,117.00	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	1.1	1.1	1.1	1.1	1.1	1.1	1.1	1.1	1.1	1.1	1.1	1.1
5. Treasury shares	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
6. Assets revaluation differences	-32.4	-32.4	-32.4	-32.4	-32.4	-32.4	-32.4	-32.4	-32.4	-32.4	-32.4	-32.4
7. Foreign exchange differences	-4.3	-3.2	-3.5	-3.2	-7.0	-7.5	-7.5	-7.1	-8.2	-12.3	-9.5	-10.2
8. Investment and development fund	125.0	125.0	125.0	125.0	107.9	107.9	107.9	107.9	91.8	91.8	91.8	91.8
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	0.0	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	734.2	464.5	303.5	220.8	235.0	178.1	199.2	182.7	190.4	151.3	126.4	122.7
- Accumulated retained earning at the end of the previous period	618.3	126.2	126.2	154.1	183.1	90.4	126.3	126.2	154.4	150.2	158.2	160.2
- Undistributed earnings in this period	115.9	338.3	177.2	66.7	51.9	87.7	73.0	56.5	36.0	1.1	-31.7	-37.5
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	-64.2	-89.8	-76.7	-74.7	-73.0	-70.8	-64.8	-62.6	-59.7	-57.6	-50.7	-47.3
14. Financial reserves	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Other resources and funds	—	-0.3	-0.3	-0.3	-0.3	-0.3	-0.3	-0.3	-0.3	-0.3	-0.3	-0.3
1. Subsidized not-for-profit funds	—	-0.3	-0.3	-0.3	-0.3	-0.3	-0.3	-0.3	-0.3	-0.3	-0.3	-0.3
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)	7,143.4	7,385.2	7,479.2	7,445.2	7,786.9	6,178.9	6,567.3	6,152.4	6,102.5	6,399.6	5,873.7	5,899.7

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
Profit Before Tax	160.0	387.0	102.5	26.4	50.3	8.7	13.9	20.7	35.3	31.0	5.2	-44.1
Depreciation of Fixed Assets and Investment Property	3.8	3.7	3.7	3.9	3.8	4.0	4.0	4.2	4.3	4.5	6.9	5.7
Provision (Increase)/Reversal	54.7	-119.6	-1.6	462.1	-12.1	299.7	-6.2	47.5	-5.3	85.9	69.2	-19.8
FX Gain/Loss from Revaluation of Monetary Items	-14.9	14.7	-23.0	-9.1	-5.2	-34.8	39.1	-31.2	-14.5	26.9	-18.6	-5.3
Gain/Loss from Investment Activities	-69.4	-12.1	-16.3	-18.7	-14.8	-30.9	-10.7	-12.1	-8.8	-13.9	-19.3	-20.4
Interest Expense	9.6	11.9	13.2	17.2	20.2	18.1	23.2	24.7	24.5	24.3	23.6	24.5
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	143.7	285.6	78.6	481.8	42.2	264.7	63.4	53.9	35.7	158.7	67.0	-59.5
Increase/(Decrease) in Receivables	484.9	73.0	-249.0	516.0	-1,549.6	806.1	-149.1	-32.2	-102.3	-435.4	-36.5	-203.7
Increase/(Decrease) in Inventory	309.9	65.9	-359.6	7.5	-37.6	-124.4	-19.1	83.2	-4.9	195.6	123.3	32.5
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-188.7	-159.8	-17.1	-625.6	1,471.6	-603.7	581.8	3.6	-239.1	259.4	-437.8	4.1
Increase/(Decrease) in Prepaid Expenses	-1.3	3.0	8.6	8.5	10.4	-74.1	13.5	8.4	10.5	12.0	-8.3	-11.9
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-27.0	-0.0	-16.0	-10.8	-18.2	-16.7	-21.3	-23.5	-22.6	-11.3	-26.4	-17.7
Corporate Income Tax Paid	-115.3	0.0	0.0	-0.3	-0.0	0.0	-1.1	-0.1	-0.8	-0.3	-0.4	-6.0
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	-0.0	0.0
Other Operating Payments	-1.5	-1.9	-0.8	-1.3	-10.9	-0.3	-5.9	-0.3	-8.4	-0.3	-0.4	-0.7
Net Cash Flow from Operating Activities	604.7	265.8	-555.4	375.9	-92.0	251.8	462.3	93.0	-331.9	178.4	-319.6	-263.0
Payments for Fixed Assets and Other Long-term Assets	-4.3	-4.3	0.2	-5.8	-0.1	-0.3	0.0	-0.5	-0.6	-0.0	-1.0	-1.9
Proceeds from Disposal of Fixed Assets and Long-term Assets	66.7	0.2	-0.1	1.1	—	0.0	-0.1	0.1	1.1	0.0	0.4	0.1
Loans and Purchases of Debt Instruments	-300.0	-7.8	0.3	-0.1	-0.4	-0.2	0.0	0.0	0.0	-0.2	-5.6	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	8.1	4.1	0.3	1.1	4.0	0.1	-0.1	0.1	0.1	-6.0	6.7
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	2.0	13.8	10.2	17.4	8.4	26.4	9.1	11.7	9.9	17.5	23.3	22.0
Increase/(Decrease) in Term Deposits	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	-235.5	9.9	14.6	12.8	9.0	29.9	9.1	11.2	10.4	17.4	11.2	26.9
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	-478,858,698.00	0.00	0.00
Proceeds from Borrowings	389.8	247.9	491.2	427.9	675.0	653.4	960.3	1,037.3	1,174.1	1,188.8	894.3	770.5
Repayment of Borrowings	-514.7	-454.6	-530.1	-672.9	-515.9	-743.0	-1,076.4	-1,069.1	-1,230.0	-1,037.5	-506.2	-964.4
Repayment of Finance Leases	-0.2	-0.2	-0.2	-0.2	-0.2	-0.2	-0.2	-0.2	-0.2	-0.5	-0.3	-0.3
Dividends Paid	-0.0	-27.7	-0.0	-0.1	—	-35.8	0.0	0.0	0.0	-8.1	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	-125.1	-234.6	-39.1	-245.3	158.9	-125.6	-116.3	-31.9	-56.1	142.3	387.7	-194.2
Net Cash Flow During the Period	244.0	41.2	-579.9	143.4	76.0	156.1	355.0	72.3	-377.5	338.1	79.3	-430.4
Cash and Cash Equivalents at Beginning of Period	2,699.2	2,671.9	3,230.1	3,056.8	2,976.5	2,738.0	2,738.0	2,738.0	2,738.0	2,600.6	2,600.6	2,600.6
FX Difference from Revaluation	12.0	42.0	55.9	34.3	4.4	39.2	-36.1	14.4	15.0	-29.2	26.9	4.0
Cash and Cash Equivalents at End of Period	2,955.2	2,699.2	2,671.9	3,230.1	3,056.8	2,976.5	2,781.2	2,462.2	2,375.5	2,738.0	2,429.2	2,323.0

Explore Other Stocks In The Same Sector

VCG, SJG, PC1, CTD, DPG, SCG, L40, HBC, CC1, DSH, L18, DC4, LHC, ICN, SJE, LCG, S55, HMS, TED, CIG, TCD, S99, PVV, FCN, C4G, DCF, HAN, TTL, HEC, SDT, C47, ACC, GTS, CCC, HVH, SC5, L10, VSI, VC6, CHS, PQN, LIG, CMS, TSA, TA9, G36, XMC, VIW, SRF, SD5, MST, PHC, BMK, DLR, VCC, ICG, HTN, VC2, DIH, DRH, LM8, CDC, ALV, PPS, PXS, HC1, V12, DC1, XLV, GH3, HFB, SD2, VC1, DC2, NDX, CT6, CH5, HU1, VE1, L12, E29, SJM, QTC, VE9, TV6, VSE, LMI, RCC, HTE, PXT, C92, PEN, PTD, CID, PVX, TA6, CDR, RCD, QCC, SCI, TL4, CDO, L63, PTO, VC9, TEL, LG9, CX8, CT3, PXI, CI5, TS3, ICI, MES, LM3, ACS, LCD, H11, VE4, VE3, CIP, MCO, PVA, S12, SDP, L35, VCE, SD7, VE2, CLG, LUT, HU3, HAS, LO5, L43, SD4, TST, VW3, E12, L45, PVH, VMC, MCG, SDD, LCS, VXB, VE8, LM7, MEC, UDC, SD6, L61, SHG, L62, VVN, TKC, DFF, C12, L44, NTB, S96, SD8, SDB, TNM, VC5

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

LLM

What Is Changing

Drivers of LLM'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