PDV

Vận Tải Và Tiếp Vận Phương Đông Việt ·HOSE ·2026Q1

▼▼ Declining sharply

Margins remain under pressure Net margin 4.70%, −10.49pp YoY

Price

9,140

Latest close

04 Jun 2026

P/E 7.08x

P/B 0.68x

EPS 1,291

BVPS 13,366

ROE 9.2%

ROA 4.4%

Profit Margin 4.7%

Asset Turnover 0.94x

Equity Mult. 2.07x

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

What Is Changing

On a TTM 2026Q1 basis, PDV is holding revenue at an acceptable level, but margins are eroding visibly — profit momentum has been slowing across consecutive periods. More notably, a significant portion of profit is supported by non-core sources, further affecting earnings quality.

	                            
	                                TTM REVENUE
	                            
	                                    VND 2,028bn
	                                
+45.3%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 95bn
	                                
−55.0%YoY

	                            
	                                Non-core income / PBT
	                            
	                                    32.3%

Metric	2025	2024	2023	2022	2021
Revenue	1,937.6	1,362.3	1,076.6	973.0	824.2
Growth	+42%	+27%	+11%	+18%	—
Net Income	89.6	224.4	64.1	125.3	24.3
Net Margin	4.62%	16.47%	5.95%	12.88%	2.95%

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	440.9	529.3	586.6	470.7	350.9	337.3	321.2	386.2	317.5	402.4	308.8	184.7
Growth	-17%	-10%	+25%	+34%	+4%	+5%	-17%	+22%	-21%	+30%	+67%	—
Net Income	19.0	41.0	32.4	2.9	13.8	1.2	166.9	30.2	26.0	12.4	18.3	8.2
Net Margin	4.32%	7.74%	5.53%	0.61%	3.92%	0.36%	51.96%	7.82%	8.19%	3.09%	5.93%	4.44%

Drivers of PDV's profit

TTM

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

Tax ↓ 28.9bn

Other profit ↓ 128.4bn

Gross profit ↓ 20.7bn

TTM

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

Gross profit ↑ 4.1bn

Tax ↑ 2.2bn

Other profit ↓ 2.2bn

Financial income ↓ 0.7bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 26.0% = 15.2% × 0.83 × 2.06

2026Q1 9.2% = 4.7% × 0.94 × 2.07

ROE fell from 26.0% to 9.2% — net margin weakened the most, though asset turnover and leverage still provided support.

Net margin: 4.7% -10.5pp Asset turnover: 0.94x +0.11x Leverage: 2.07x +0.01x

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 fell to 4.70%, losing 10.5pp. The main pressure is Gross margin fell 5.4pp, outweighing the improvement in SG&A / Revenue fell 2.3pp (in addition, Net financial result / Revenue rose 0.1pp added support while Other profit / Revenue fell 10.1pp remained a drag).

The pressure comes from non-core items while core operations hold their rhythm — margin has a basis to recover once this factor passes.

Profitability trend

Net Margin 4.70% −10.5pp

Gross Margin 8.71% −5.4pp

SG&A / Revenue 2.34% −2.3pp

Non-core / Revenue -0.53% −10.0pp

TTM YoY · 2025Q1 -> 2026Q1

Watchpoints

Financial result share remains high

Even though contribution decreased by 10.0pp, financial result still accounts for 32.3% of PBT — earnings durability should be monitored in coming periods.

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 3.68%, losing 2.1pp. That translates to 3.68 in after-tax operating profit for every 100 units of operating capital. The main pressure came from NOPAT margin narrowed 2.5pp, outweighing the movement in capital turnover; while invested capital expanded strongly by 383bn.

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

Watchpoints

ROIC remains low

ROIC is currently 3.68% — below the typical cost-of-capital threshold; worth tracking whether upcoming periods can rise above this level.

CAPITAL EFFICIENCY TREND

ROIC 3.68% −2.1pp

NOPAT Margin 3.16% −2.5pp

Capital Turnover 1.16x +0.14x

Average Invested Capital 1,742.5bn +382.9bn

Balance Sheet

ROIC declined — the balance sheet shows how capital is being deployed. Capital structure is balanced — liabilities at 1.15x equity, net debt at 0.72x equity.

Over the last 12 months, working capital absorbed 203.1bn of cash, mainly because of higher receivables and higher inventories.

Working Capital Drivers

Receivables increased → lower CFO: −133.8bn

Inventories increased → lower CFO: −15.1bn

Payables decreased → lower CFO: −54.2bn

Working Capital Efficiency

Cash conversion cycle lengthened by 4.3 days versus the same period last year. The main moves came from DIO fell 0.4 days, DSO fell 0.3 days, and DPO fell 4.9 days.

Working capital cycle lengthened mainly due to shorter payment timing — may reflect pressure from suppliers.

Watchpoints

Cash conversion cycle is lengthening

CCC is up by +4.3 days, indicating weaker working-capital turnover versus the prior year.

Working Capital Efficiency

Receivables 16.9 days −0.3 days

Inventory 8.3 days −0.4 days

Payables 23.7 days −4.9 days

Cash Conversion Cycle 1.6 days +4.3 days

Is financial risk significant?

Check leverage, liquidity, and cash-flow conversion.

Leverage & Liquidity

Leverage warrants monitoring, with net debt / equity at 0.72x and interest coverage only at 1.09x.

At present, short-term debt accounts for 20.2% of total debt, cash equals 19.3% of debt, and total debt stands at 946.7bn.

Watchpoints

Interest coverage is thin

Interest coverage is 1.09x, leaving limited room to absorb financing costs.

Cash buffer is thin relative to debt

Cash / debt stands at 19.3%, leaving limited liquidity buffer to monitor.

Leverage and liquidity trend

Net Debt / Equity 0.72x +0.08x

Interest Coverage 1.09x −0.37x

Cash / Debt 19.3% −7.6pp

Short-term Debt / Total Debt 20.2% +4.7pp

CFO / NI 0.77x −0.67x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 119.3bn in 2025, against investing cash flow of -126.2bn.

Post-investment cash flow was negative +6.9bn. Financing cash flow was positive +34.4bn.

CFO / net income was 0.77x.

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

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

Cash Conversion

CFO TTM 73.4bn −230.9bn

Cash Capex — —

FCF TTM — —

Investment Takeaway

The business is under real pressure, but the current picture has not turned broadly adverse. A notable area has clearly weakened, making the near-term outlook hard to call bright; even so, other parts of the business are still holding up, with margins remain under pressure remaining the main constraint, with net margin down 10.5 pp. The next watchpoint is the earnings mix, when non-core contribution is -41.3%.

Watchpoint: the earnings mix still needs monitoring, with net financial result still accounting for -41.3% of PBT and CFO / net income currently at 0.77x.

Key risk: profitability remains under pressure, with trailing-12M net margin at 4.70% after a 10.5pp decline versus the same period last year.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	1,937.6	1,362.3	1,076.6	973.0	824.2
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	1,937.6	1,362.3	1,076.6	973.0	824.2
Cost of Goods Sold	1,769.7	1,145.5	936.4	750.8	0.0
Gross Profit	167.9	216.8	140.2	222.2	66.6
Financial Income	25.2	28.7	22.7	13.4	12.2
Financial Expenses	68.4	64.3	45.3	27.8	-17.6
Interest Expense	62.6	45.0	35.3	16.9	-14.6
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	0.0
Selling Expenses	—	0.0	0.0	0.0	0.0
General and Administrative Expenses	54.1	61.4	52.6	64.6	-32.7
Operating Profit	70.6	119.9	65.1	143.3	28.4
Other Income	44.0	161.0	15.6	14.5	0.0
Other Expenses	3.5	0.5	0.6	0.2	0.0
Other Profit	40.4	160.5	15.1	14.4	2.0
Profit Before Tax	111.0	280.4	80.2	157.6	30.4
Current Income Tax Expense	22.1	56.0	16.1	27.4	-6.1
Deferred Income Tax Expense	-0.7	0.0	0.0	5.0	0.0
Net Income	89.6	224.4	64.1	125.3	24.3
Non-controlling Interest	—	0.0	0.0	0.0	0.0
Profit Attributable to Parent	89.6	224.4	64.1	125.3	24.3
Earnings per Share	1,255.00	4,111.00	1,987.00	4,570.00	781.17
Diluted EPS	1,129.27	3,394.39	1,486.93	4,989.43	781.17

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	583.5	636.9	351.7	411.7	276.0
I. Cash and cash equivalents	248.1	220.9	99.4	50.1	57.0
1. Cash	38.1	40.9	9.4	15.1	0.0
2. Cash equivalents	210.0	180.0	90.0	35.0	0.0
II. Short-term financial investments	20.0	190.0	81.0	196.0	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	20.0	190.0	81.0	196.0	0.0
III. Short-term receivables	168.1	119.4	78.3	109.8	138.3
1. Short-term trade accounts receivable	96.7	66.1	46.0	62.4	0.0
2. Short-term prepayments to suppliers	2.2	6.7	4.5	20.8	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	79.5	56.9	47.1	45.9	0.0
7. Provision for short-term doubtful debts (*)	-10.3	-10.3	-19.3	-19.3	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	49.7	34.2	22.6	17.4	12.2
1. Inventories	49.7	34.2	22.6	17.4	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	97.6	72.4	70.3	38.3	18.3
1. Short-term prepayments	16.2	16.0	16.5	7.5	0.0
2. Value added tax to be reclaimed	81.5	56.5	53.8	30.8	0.0
3. Taxes and other receivables from state authorities	0.0	0.0	0.0	0.0	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)	1,650.6	1,527.8	959.7	509.6	596.9
I. Long-term receivables	16.1	16.0	14.8	0.0	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	0.0
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	16.1	16.0	14.8	0.0	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	1,512.8	1,388.2	803.2	431.6	546.5
1. Tangible fixed assets	1,512.7	1,388.0	803.1	431.6	546.5
- Cost	1,941.9	1,630.8	1,034.8	586.8	0.0
- Accumulated depreciation	-429.3	-242.8	-231.7	-155.2	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	0.1	0.2	0.1	0.0	0.0
- Cost	0.5	0.5	0.4	0.2	0.0
- Accumulated depreciation	-0.4	-0.3	-0.2	-0.2	0.0
III. Investment properties	—	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
IV. Long-term assets in progress	—	0.0	0.0	5.6	0.0
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	—	0.0	0.0	5.6	0.0
V. Long-term financial investments	—	0.0	0.0	0.0	0.0
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	—	0.0	0.0	0.0	0.0
3. Investments in other entities	—	0.0	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	—	0.0	0.0	0.0	0.0
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	121.7	123.6	141.7	72.4	0.0
1. Long-term prepayments	119.0	121.6	139.8	70.4	0.0
2. Deferred income tax assets	2.6	2.0	2.0	2.0	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	50.5
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)	2,234.0	2,164.7	1,311.4	921.3	873.0
A. LIABILITIES (300=210+330)	1,192.9	1,165.5	716.9	474.6	528.8
I. Short -term liabilities	389.1	376.3	266.5	245.3	259.8
1. Short-term trade accounts payable	97.4	133.3	101.4	95.3	138.6
2. Short-term advances from customers	0.1	0.5	0.0	9.3	7.0
3. Taxes and other payables to state authorities	9.6	21.7	2.4	12.6	0.0
4. Payable to employees	20.8	32.6	32.7	25.8	0.0
5. Short-term acrrued expenses	27.6	7.4	7.1	21.1	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	5.9	16.4	18.8	6.8	0.0
9. Other short-term payables	20.2	21.4	16.1	13.6	0.0
10. Short-term borrowings and financial leases	190.9	136.4	82.9	60.0	74.6
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	16.7	6.6	5.0	0.9	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	803.8	789.2	450.4	229.3	269.0
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	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	—	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	803.8	789.2	450.4	229.3	269.0
9. Convertible bonds	—	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	0.0	0.0	0.0	0.0
13. Fund for technology development	—	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	1,041.1	999.2	594.5	446.6	344.2
I. Owner's equity	1,041.1	999.2	594.5	446.6	0.0
1. Owner's capital	793.1	661.0	430.9	311.1	344.2
- Common stock with voting right	793,149,260,000.00	660,959,660,000.00	430,873,310,000.00	251,099,860,000.00	311,099,860,000.00
- Preferred stock	—	0.00	0.00	60,000,000,000.00	0.00
2. Share premium	-0.4	-0.4	-0.2	0.0	0.1
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	113.9	113.9	97.8	10.2	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	134.5	224.8	65.9	125.4	24.8
- Accumulated retained earning at the end of the previous period	44.9	0.4	1.8	0.1	0.5
- Undistributed earnings in this period	89.6	224.4	64.1	125.3	24.3
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)	2,234.0	2,164.7	1,311.4	921.3	873.0

Item	2025	2024	2023	2022	2021
Profit Before Tax	111.0	280.4	80.2	157.6	30.4
Depreciation of Fixed Assets and Investment Property	186.5	112.6	76.5	56.4	88.3
Provision (Increase)/Reversal	—	-8.9	0.0	9.9	0.0
FX Gain/Loss from Revaluation of Monetary Items	0.9	-2.3	4.6	7.0	0.0
Gain/Loss from Investment Activities	-13.8	-167.1	-12.1	-22.0	0.0
Interest Expense	62.6	45.0	35.3	16.9	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	347.2	259.7	184.3	225.9	123.4
Increase/(Decrease) in Receivables	-74.8	-32.6	-3.3	6.6	0.0
Increase/(Decrease) in Inventory	-15.5	-20.7	-5.2	-5.3	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-40.8	30.1	9.0	-19.6	0.0
Increase/(Decrease) in Prepaid Expenses	2.4	8.3	-78.4	-31.3	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-61.4	-42.5	-38.4	-16.1	0.0
Corporate Income Tax Paid	-33.4	-37.3	-26.1	-18.6	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-4.5	-4.8	-4.4	-1.6	0.0
Net Cash Flow from Operating Activities	119.3	160.2	37.5	140.1	48.7
Payments for Fixed Assets and Other Long-term Assets	-312.4	-813.3	-448.6	-0.1	-20.4
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	295.7	0.0	73.9	38.7
Loans and Purchases of Debt Instruments	-40.0	-190.0	-70.0	-216.0	-50.0
Receipts from Loan Repayments and Sale of Debt Instruments	210.0	81.0	185.0	70.2	19.0
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	16.1	5.9	13.6	5.9	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	-126.2	-620.7	-319.9	-66.0	-10.9
Proceeds from Equity Issuance and Capital Contributions	—	230,086,350,000.00	119,773,450,000.00	0.00	0.00
Share Repurchases	—	-244,100,000.00	-171,600,000.00	-95,000,000.00	0.00
Proceeds from Borrowings	211.0	561.3	380.3	35.3	39.4
Repayment of Borrowings	-144.2	-168.0	-142.7	-97.5	-67.1
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-32.4	-41.3	-25.5	-18.6	0.0
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	34.4	581.9	331.7	-80.9	-27.7
Net Cash Flow During the Period	27.4	121.4	49.3	-6.8	-18.8
Cash and Cash Equivalents at Beginning of Period	220.9	99.4	50.1	57.0	46.9
FX Difference from Revaluation	-0.2	0.1	0.0	-0.1	0.0
Cash and Cash Equivalents at End of Period	248.1	220.9	99.4	50.1	57.0

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	440.9	529.3	586.6	470.7	350.9	337.3	321.2	386.2	317.5	402.4	308.8	184.7
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	440.9	529.3	586.6	470.7	350.9	337.3	321.2	386.2	317.5	402.4	308.8	184.7
Cost of Goods Sold	397.5	454.4	546.1	453.0	311.6	314.5	250.6	321.7	259.2	370.9	263.8	157.6
Gross Profit	43.4	74.9	40.5	17.7	39.3	22.9	70.6	64.6	58.3	31.6	44.9	27.1
Financial Income	6.2	4.2	8.0	6.2	6.8	12.2	9.3	4.5	2.7	3.4	4.0	8.3
Financial Expenses	18.9	17.2	17.1	20.3	18.3	23.0	10.0	16.0	15.3	9.7	19.8	9.8
Interest Expense	15.9	16.8	16.2	14.6	15.0	14.3	9.7	10.0	11.0	8.4	12.2	9.1
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	—	—	—	5.0	17.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0
General and Administrative Expenses	10.3	19.6	12.4	—	—	16.4	15.0	16.3	13.8	14.8	11.0	15.7
Operating Profit	20.4	42.2	19.0	-1.3	10.7	-4.2	55.0	36.7	31.9	10.5	18.1	9.9
Other Income	3.9	8.1	21.9	8.0	5.9	5.7	154.0	1.2	0.1	6.0	4.8	0.4
Other Expenses	0.2	—	0.4	3.2	—	0.0	-0.0	0.2	0.0	0.0	0.0	0.0
Other Profit	3.7	8.1	21.5	4.8	5.9	5.7	154.1	1.0	0.1	6.0	4.8	0.4
Profit Before Tax	24.1	50.4	40.5	3.5	16.6	1.4	209.1	37.7	32.0	16.5	22.9	10.3
Current Income Tax Expense	5.1	10.1	8.0	0.6	2.8	0.2	42.2	7.6	6.0	4.0	4.5	2.1
Deferred Income Tax Expense	—	-0.7	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	19.0	41.0	32.4	2.9	13.8	1.2	166.9	30.2	26.0	12.4	18.3	8.2
Non-controlling Interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	19.0	41.0	32.4	2.9	13.8	1.2	166.9	30.2	26.0	12.4	18.3	8.2
Earnings per Share	239.98	516.64	490.95	43.24	208.08	18.22	2,525.03	700.60	603.60	288.94	588.93	263.65
Diluted EPS	239.98	516.64	490.95	43.24	208.08	18.22	2,525.03	700.60	603.60	288.94	588.93	263.65

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)	634.0	583.5	575.3	687.5	609.7	636.9	740.1	390.6	370.2	351.7	277.9	295.7
I. Cash and cash equivalents	182.6	248.1	234.9	184.0	238.2	220.9	363.5	169.9	64.5	99.4	10.9	58.7
1. Cash	32.6	38.1	39.9	28.6	20.5	40.9	98.5	79.9	14.5	9.4	10.9	13.7
2. Cash equivalents	150.0	210.0	195.0	155.4	217.8	180.0	265.0	90.0	50.0	90.0	0.0	45.0
II. Short-term financial investments	70.0	20.0	30.0	160.0	150.0	190.0	170.0	50.0	111.0	81.0	71.0	71.0
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	70.0	20.0	30.0	160.0	150.0	190.0	170.0	50.0	111.0	81.0	71.0	71.0
III. Short-term receivables	225.0	168.1	205.0	219.9	108.0	119.4	124.1	88.0	96.1	78.3	112.4	101.7
1. Short-term trade accounts receivable	122.7	96.7	101.4	160.0	65.2	66.1	47.6	40.2	66.1	46.0	43.0	40.2
2. Short-term prepayments to suppliers	6.3	2.2	11.7	8.9	7.9	6.7	32.2	8.1	7.0	4.5	20.5	35.6
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other short-term receivables	106.4	79.5	102.2	61.4	45.3	56.9	54.7	59.0	42.3	47.1	68.2	45.2
7. Provision for short-term doubtful debts (*)	-10.3	-10.3	-10.3	-10.3	-10.3	-10.3	-10.3	-19.3	-19.3	-19.3	-19.3	-19.3
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	50.1	49.7	38.6	39.2	34.2	34.2	17.9	24.0	22.8	22.6	32.5	17.5
1. Inventories	50.1	49.7	38.6	39.2	34.2	34.2	17.9	24.0	22.8	22.6	32.5	17.5
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	106.3	97.6	66.8	84.4	79.3	72.4	64.6	58.7	75.9	70.3	51.1	46.8
1. Short-term prepayments	18.8	16.2	15.7	16.6	17.6	16.0	13.3	12.9	17.0	16.5	7.4	8.0
2. Value added tax to be reclaimed	87.5	81.5	51.1	67.8	61.6	56.5	51.2	45.8	58.9	53.8	43.7	38.8
3. Taxes and other receivables from state authorities	0.0	0.0	0.0	0.0	0.1	0.0	0.0	0.0	0.0	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)	1,588.0	1,650.6	1,695.1	1,434.3	1,464.7	1,527.8	1,121.0	901.4	920.5	959.7	960.1	936.1
I. Long-term receivables	16.1	16.1	16.1	16.3	16.0	16.0	14.8	14.8	14.8	14.8	4.8	4.8
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	16.1	16.1	16.1	16.3	16.0	16.0	14.8	14.8	14.8	14.8	4.8	4.8
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	1,461.7	1,512.8	1,564.0	1,301.6	1,345.0	1,388.2	998.6	756.1	779.7	803.2	822.5	834.2
1. Tangible fixed assets	1,461.6	1,512.7	1,563.9	1,301.4	1,344.8	1,388.0	998.5	756.0	779.6	803.1	822.3	834.1
- Cost	1,942.1	—	—	—	—	1,630.8	1,201.8	1,034.8	1,034.8	1,034.8	1,030.6	1,018.8
- Accumulated depreciation	-480.5	—	—	—	—	-242.8	-203.3	-278.7	-255.2	-231.7	-208.2	-184.7
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	0.1	0.1	0.2	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.1	0.1
- Cost	0.5	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-0.4	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- 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
IV. Long-term assets in progress	7.1	—	—	4.4	1.4	0.0	2.2	1.0	0.0	0.0	1.6	2.6
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	7.1	—	—	4.4	1.4	0.0	2.2	1.0	0.0	0.0	1.6	2.6
V. Long-term financial investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	103.1	121.7	115.0	112.0	102.3	123.6	105.4	129.5	126.1	141.7	131.2	94.4
1. Long-term prepayments	100.4	119.0	113.0	110.1	100.3	121.6	103.5	127.5	124.1	139.8	129.3	92.5
2. Deferred income tax assets	2.6	2.6	2.0	2.0	2.0	2.0	2.0	2.0	2.0	2.0	2.0	2.0
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)	2,222.0	2,234.0	2,270.4	2,121.8	2,074.4	2,164.7	1,861.1	1,292.1	1,290.8	1,311.4	1,238.0	1,231.8
A. LIABILITIES (300=210+330)	1,161.9	1,192.9	1,270.2	1,120.6	1,061.5	1,165.5	863.1	647.8	670.3	717.2	775.9	761.4
I. Short -term liabilities	406.0	389.1	418.6	410.1	312.0	376.3	300.1	239.6	240.7	266.8	301.4	255.8
1. Short-term trade accounts payable	140.9	97.1	153.4	199.1	99.2	133.3	80.3	69.1	88.7	101.4	78.3	64.0
2. Short-term advances from customers	0.1	0.4	1.1	0.6	4.6	0.5	0.1	1.1	0.1	0.0	8.8	0.3
3. Dividends and profits payable	4.6	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	4.5	9.6	7.9	0.0	2.2	21.7	42.2	7.3	4.7	3.1	4.6	1.7
4. Payable to employees	12.0	20.8	14.7	12.5	35.8	32.6	39.4	34.1	33.6	32.3	28.7	30.7
5. Short-term acrrued expenses	19.4	27.6	21.2	11.5	8.7	7.4	5.1	11.6	3.9	7.1	51.4	27.2
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	10.2	5.9	4.7	0.1	1.3	16.4	9.6	15.3	16.3	18.8	6.6	15.4
9. Other short-term payables	15.9	20.2	18.5	18.2	17.8	21.4	20.2	20.4	16.6	16.1	17.4	14.3
10. Short-term borrowings and financial leases	190.8	190.9	178.9	148.8	136.5	136.4	96.3	72.4	72.9	82.9	100.5	93.1
11. Provision for short-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	7.6	16.7	18.0	19.3	5.9	6.6	6.8	8.2	3.9	5.0	5.3	9.0
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	755.9	803.8	851.6	710.5	749.5	789.2	563.1	408.2	429.6	450.4	474.4	505.6
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	755.9	803.8	851.6	710.5	749.5	789.2	563.1	408.2	429.6	450.4	474.4	505.6
9. Convertible bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Fund for technology development	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	1,060.1	1,041.1	1,000.1	1,001.2	1,012.9	999.2	998.0	644.3	620.5	594.2	462.1	470.3
I. Owner's equity	1,060.1	1,041.1	1,000.1	1,001.2	1,012.9	999.2	998.0	644.3	620.5	594.2	462.1	470.3
1. Owner's capital	793.1	793.1	661.0	661.0	661.0	661.0	661.0	430.9	430.9	430.9	311.1	311.1
- Common stock with voting right	793,149,260,000.00	793,149,260,000.00	660,959,660,000.00	660,959,660,000.00	660,959,660,000.00	660,959,660,000.00	660,959,660,000.00	430,873,310,000.00	430,873,310,000.00	430,873,310,000.00	311,099,860,000.00	311,099,860,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	-0.4	-0.4	-0.4	-0.4	-0.4	-0.4	-0.4	-0.2	-0.2	-0.2	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	—	—	—	—	—	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	113.9	113.9	113.9	113.9	113.9	113.9	113.9	113.9	97.8	97.8	97.8	97.8
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
11. Undistributed earnings after tax	153.5	134.5	225.7	226.8	238.5	224.8	223.6	99.7	91.9	65.6	53.2	61.4
- Accumulated retained earning at the end of the previous period	134.5	44.9	177.1	210.2	224.8	0.4	0.4	43.5	65.9	1.8	1.8	28.9
- Undistributed earnings in this period	19.0	89.6	48.6	16.6	13.8	224.4	223.2	56.2	26.0	63.8	51.3	32.5
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	—	—	—	—	—	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)	2,222.0	2,234.0	2,270.4	2,121.8	2,074.4	2,164.7	1,861.1	1,292.1	1,290.8	1,311.4	1,238.0	1,231.8

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Profit Before Tax	24.1	50.4	40.5	3.5	16.6	1.4	209.1	37.9	32.0	16.1	22.9	10.8
Depreciation of Fixed Assets and Investment Property	51.2	51.2	48.4	43.5	43.4	39.5	26.0	23.5	23.5	23.5	23.4	17.4
Provision (Increase)/Reversal	—	—	—	—	—	0.0	-8.9	0.0	0.0	0.0	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	-3.1	-0.5	-0.5	1.3	0.6	-0.1	-4.3	2.6	1.7	-2.3	6.3	1.6
Gain/Loss from Investment Activities	-2.8	4.6	-10.0	1.4	-9.8	-814.0	682.3	2.9	-5.8	-2.3	-1.8	-3.2
Interest Expense	15.9	16.8	16.2	14.6	15.0	14.3	9.7	10.0	11.0	8.4	12.2	9.1
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	85.4	122.4	94.6	64.3	65.9	-758.9	913.9	76.9	62.4	43.4	62.9	35.7
Increase/(Decrease) in Receivables	-48.5	-78.7	115.2	-121.7	10.4	53.4	-60.1	35.8	-35.4	117.9	-117.0	-8.1
Increase/(Decrease) in Inventory	0.4	-11.1	0.6	-5.0	0.0	-16.3	6.2	-1.3	-0.1	9.8	-15.0	-2.7
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-21.0	-38.9	-33.1	38.7	-7.5	493.8	-436.7	12.4	-38.4	-85.5	113.2	1.6
Increase/(Decrease) in Prepaid Expenses	15.9	-6.5	2.3	-13.1	19.7	-20.8	24.1	0.3	15.2	-19.6	-40.0	-11.0
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-16.3	-16.8	-14.3	-14.9	-15.4	-11.5	-10.0	-10.3	-11.2	-12.8	-11.2	-8.9
Corporate Income Tax Paid	-10.1	-8.5	-0.6	-2.8	-21.4	-21.1	-7.6	-5.3	-3.3	-5.3	-2.1	-6.1
Other Operating Receipts	—	—	—	—	—	0.0	0.1	0.0	0.0	-0.0	0.0	0.0
Other Operating Payments	-1.1	-3.5	0.9	-0.8	-1.1	-0.6	-0.7	-1.8	-1.4	-3.2	-0.6	-0.1
Net Cash Flow from Operating Activities	4.7	-41.6	165.6	-55.3	50.6	-282.0	429.1	106.7	-12.2	44.7	-9.7	0.5
Payments for Fixed Assets and Other Long-term Assets	—	-1.2	-309.4	-1.7	—	-423.6	-390.6	0.0	0.0	-4.8	-8.4	-435.4
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	—	—	—	—	0.0	303.6	0.0	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	-70.0	0.0	0.0	225.2	-265.2	-278.5	-560.0	-10.0	-20.0	-60.0	0.0	-10.0
Receipts from Loan Repayments and Sale of Debt Instruments	20.0	90.0	50.0	-197.5	267.5	343.5	215.0	81.0	30.0	50.0	0.0	90.0
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	3.8	2.4	5.3	3.9	4.5	4.1	0.7	1.7	1.7	5.6	0.2	5.7
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	-46.2	91.2	-254.1	29.9	6.8	-354.5	-431.2	72.7	11.7	-9.2	-8.1	-349.7
Proceeds from Equity Issuance and Capital Contributions	—	—	—	—	—	230,086,350,000.00	0.00	0.00	0.00	119,773,450,000.00	0.00	0.00
Share Repurchases	—	—	—	—	—	0.00	-239,100,000.00	-5,000,000.00	0.00	-171,600,000.00	0.00	0.00
Proceeds from Borrowings	—	0.0	211.0	—	—	295.6	265.7	0.0	0.0	17.8	17.3	337.1
Repayment of Borrowings	-23.7	-35.7	-40.2	-28.3	-40.0	-32.0	-78.5	-23.9	-34.5	-58.9	-47.3	-25.0
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	-0.1	-0.6	-31.6	-0.2	—	0.0	-40.8	-0.1	0.0	-25.5	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	-23.8	-36.3	139.2	-28.5	-40.0	493.7	146.1	-24.0	-34.5	53.0	-30.0	312.1
Net Cash Flow During the Period	-65.3	13.3	50.7	-53.9	17.4	-142.8	144.0	155.4	-35.1	88.6	-47.9	-37.1
Cash and Cash Equivalents at Beginning of Period	248.1	234.9	184.0	238.2	220.9	99.4	99.4	99.4	99.4	50.1	50.1	50.1
FX Difference from Revaluation	-0.2	-0.2	-0.1	-0.3	-0.0	0.2	-0.4	0.0	0.1	0.0	0.0	-0.0
Cash and Cash Equivalents at End of Period	182.6	248.1	234.9	184.0	238.2	220.9	363.5	219.9	64.5	99.4	10.9	58.7

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PDV

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