SDA

Simco Sông Đà ·HNX ·2026Q1

▼ Under pressure

Leverage and liquidity require close discipline Debt/equity 0.11x

Price

1,900

Latest close

05 Jun 2026

P/E 6.44x

P/B 0.54x

EPS 295

BVPS 3,498

ROE 5.6%

ROA 3.4%

Profit Margin 28.4%

Asset Turnover 0.12x

Equity Mult. 1.64x

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

What Is Changing

On a TTM 2026Q1 basis, SDA is in an offsetting state — revenue softened slightly but margins improved — margins have been expanding consistently over multiple periods. More notably, profit relies heavily on non-core sources while operating cash flow is negative — these two factors together suggest earnings quality needs cautious evaluation.

	                            
	                                TTM REVENUE
	                            
	                                    VND 27bn
	                                
−37.0%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 8bn
	                                
−30.8%YoY

	                            
	                                Net financial result / PBT
	                            
	                                    950.3%
	                                
affects earnings quality

Metric	2025	2024	2023	2022	2021
Revenue	21.5	41.3	44.7	62.0	46.6
Growth	-48%	-7%	-28%	+33%	—
Net Income	2.4	0.0	-29.3	0.8	23.4
Net Margin	11.00%	0.11%	-65.49%	1.31%	50.27%

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	10.2	6.2	5.6	5.3	4.4	12.1	10.5	16.2	7.1	10.2	13.4	15.3
Growth	+65%	+9%	+7%	+20%	-64%	+15%	-35%	+128%	-30%	-24%	-13%	—
Net Income	2.9	6.9	-1.3	-0.8	-0.0	6.2	0.4	4.6	-0.2	8.0	-0.6	0.5
Net Margin	28.81%	111.65%	-23.07%	-14.91%	-0.68%	51.68%	3.41%	28.31%	-3.18%	79.05%	-4.82%	3.40%

Drivers of SDA's profit

TTM

Net profit attributable to parent declined vs last year, mainly due to higher administrative expenses. Supporting and offsetting drivers:

Finance costs ↓ 66.4bn

Administrative expenses ↑ 63.2bn

Gross profit ↓ 3.2bn

Financial income ↓ 2.5bn

TTM

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

Administrative expenses ↓ 3.4bn

Financial income ↓ 0.7bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 6.0% = 25.8% × 0.15 × 1.50

2026Q1 5.6% = 28.4% × 0.12 × 1.64

ROE is broadly flat at 5.6% — the components are offsetting one another.

Net margin: 28.4% +2.5pp Asset turnover: 0.12x -0.04x Leverage: 1.64x +0.14x

Is the profit sustainable?

Accounting profit is positive but operating cash flow has not caught up — needs more time to confirm.

very positive positive stable watch under pressure

What is driving the margin?

Net margin expanded to 28.37%, rising 2.5pp. Despite pressure from SG&A / Revenue rose 238.0pp and Gross margin fell 4.6pp, the offset came from Net financial result / Revenue rose 247.6pp.

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 28.37% +2.5pp

Gross Margin 7.51% −4.6pp

SG&A / Revenue 247.92% +238.0pp

Non-core / Revenue 269.63% +247.6pp

TTM YoY · 2025Q1 -> 2026Q1

Watchpoints

Financial result is supporting margin

Financial result accounts for 950.3% of PBT and lifted net margin by 247.6pp — separate the operating contribution from this source.

Is capital being used efficiently?

Capital efficiency should be read in industry context — ROIC may fluctuate with business specifics.

Is capital being deployed efficiently?

Track how much operating profit the business generates on invested capital.

Industry characteristics make ROIC cyclical — this is a reference signal and should be read with the business context.

CAPITAL EFFICIENCY TREND

ROIC — —

NOPAT Margin — —

Capital Turnover 0.18x −0.05x

Average Invested Capital 147.7bn −35.7bn

Balance Sheet

ROIC above should be read with industry context — the balance sheet below adds perspective. Capital structure is conservative with low leverage — liabilities at 0.75x equity, net debt at 0.17x equity.

Over the last 12 months, working capital released 0.0bn of cash.

Working Capital Drivers

Receivables were broadly stable → neutral CFO: —

Inventories were broadly stable → neutral CFO: —

Payables were broadly stable → neutral CFO: —

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 84.0 days versus the same period last year. The main moves came from DIO fell 15.0 days, DSO rose 50.9 days, and DPO rose 119.9 days.

Extended payment timing is the main driver — consider whether this trades off supplier relationships.

Watchpoints

Receivables collection is slowing

DSO increased by +50.9 days, pointing to slower receivables turnover.

Working Capital Efficiency

Receivables 412.5 days +50.9 days

Inventory 0.7 days −15.0 days

Payables 459.5 days +119.9 days

Cash Conversion Cycle -46.3 days −84.0 days

Is financial risk significant?

Check leverage, liquidity, and cash-flow conversion.

Leverage & Liquidity

Leverage warrants monitoring, with net debt / equity at 0.17x and interest coverage only at 0.11x.

At present, short-term debt accounts for 100.0% of total debt, cash equals 18.3% of debt, and total debt stands at 15.9bn.

Watchpoints

Interest coverage is thin

Interest coverage is 0.11x, leaving limited room to absorb financing costs.

Short-term refinancing pressure is meaningful

Short-term debt accounts for 100.0% of total debt, raising near-term refinancing needs.

Leverage and liquidity trend

Net Debt / Equity 0.17x +0.14x

Interest Coverage 0.11x −1.49x

Cash / Debt 18.3% −55.3pp

Short-term Debt / Total Debt 100.0% 0.0pp

CFO / NI -13.92x −14.64x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

Operating cash flow reached -109.2bn in 2025, against investing cash flow of 107.2bn.

Post-investment cash flow was negative +2.0bn. Financing cash flow was positive +1.9bn.

CFO / net income was -13.92x.

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 107.5bn −115.6bn

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 leverage and liquidity remaining the main constraint, with interest coverage at 0.11x. The next watchpoint is the earnings mix, when non-core contribution is 950.3%. The main offsetting support comes from operating efficiency, with net margin improving 2.5 pp.

Improvement: operating efficiency is getting better, with trailing-12M net margin at 28.37% after expanding 2.5pp versus the same period last year.

Watchpoint: the earnings mix still needs monitoring, with net financial result still accounting for 950.3% of PBT and CFO / net income currently at -13.92x.

Key risk: leverage and liquidity still require discipline, with interest coverage only at 0.11x.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	21.5	41.3	44.7	62.0	46.7
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	21.5	41.3	44.7	62.0	46.6
Cost of Goods Sold	19.6	41.0	43.9	56.2	0.0
Gross Profit	1.8	0.4	0.8	5.8	4.1
Financial Income	1.1	2.8	19.6	1.8	5.2
Financial Expenses	-35.8	-6.5	44.1	3.0	9.4
Interest Expense	1.0	0.7	1.2	0.3	-0.1
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	36.4	15.0	5.6	3.7	5.1
Operating Profit	2.4	-5.3	-29.3	1.0	23.8
Other Income	0.2	5.3	0.1	0.0	0.0
Other Expenses	0.2	0.0	0.0	0.2	0.0
Other Profit	-0.0	5.3	0.1	-0.2	-0.3
Profit Before Tax	2.4	0.0	-29.3	0.8	23.4
Current Income Tax Expense	—	0.0	0.0	0.0	0.0
Deferred Income Tax Expense	—	0.0	0.0	0.0	0.0
Net Income	2.4	0.0	-29.3	0.8	23.4
Non-controlling Interest	—	0.0	0.0	0.0	0.0
Profit Attributable to Parent	2.4	0.0	-29.3	0.8	23.4
Earnings per Share	90.00	1.74	-1,116.00	31.00	894.61
Diluted EPS	90.00	1.74	-1,116.00	31.00	894.61

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	33.0	83.4	89.6	70.8	53.4
I. Cash and cash equivalents	0.1	0.3	0.6	0.2	0.5
1. Cash	0.1	0.3	0.6	0.2	0.0
2. Cash equivalents	—	0.0	0.0	0.0	0.0
II. Short-term financial investments	5.6	5.6	5.6	5.6	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	5.6	5.6	5.6	5.6	0.0
III. Short-term receivables	27.2	77.4	83.3	61.0	46.7
1. Short-term trade accounts receivable	23.9	40.2	42.6	22.4	0.0
2. Short-term prepayments to suppliers	2.2	2.3	5.5	2.2	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	11.8	42.9	33.5	28.8	0.0
6. Other short-term receivables	100.8	13.6	12.0	17.1	0.0
7. Provision for short-term doubtful debts (*)	-111.5	-21.5	-10.3	-9.6	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	0.0	0.0	0.0	3.4	0.1
1. Inventories	0.0	0.0	0.0	3.5	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	-0.1	0.0
V. Other short-term assets	0.0	0.1	0.0	0.6	0.5
1. Short-term prepayments	0.0	0.0	0.0	0.4	0.0
2. Value added tax to be reclaimed	—	0.1	0.0	0.3	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)	122.7	172.1	168.4	235.4	289.8
I. Long-term receivables	1.0	11.0	11.0	1.0	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	1.0
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	1.0	11.0	11.0	1.0	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	18.7	14.4	17.7	23.5	26.9
1. Tangible fixed assets	18.7	14.4	17.7	23.5	26.9
- Cost	30.8	25.3	29.5	49.5	0.0
- Accumulated depreciation	-12.1	-10.9	-11.8	-26.0	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	—	0.0	0.0	0.0	0.0
- Cost	0.2	0.2	0.2	0.2	0.0
- Accumulated depreciation	-0.2	-0.2	-0.2	-0.2	0.0
III. Investment properties	9.2	9.7	7.5	8.4	6.8
- Cost	16.0	16.0	11.8	12.6	0.0
- Accumulated depreciation	-6.8	-6.3	-4.3	-4.3	0.0
IV. Long-term assets in progress	75.9	80.7	75.9	75.9	75.9
1. Long-term production in progress	75.9	75.9	75.9	0.0	0.0
2. Construction in progress	—	4.8	0.0	75.9	0.0
V. Long-term financial investments	17.9	56.3	56.3	126.7	178.7
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	72.7	72.7	72.7	158.6	0.0
3. Investments in other entities	49.6	86.7	101.9	44.8	0.0
4. Provision for diminution in value of long-term investments	-104.4	-103.1	-118.3	-76.8	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	0.0	0.0	0.0	0.0	0.0
1. Long-term prepayments	0.0	0.0	0.0	0.0	0.0
2. Deferred income tax assets	—	0.0	0.0	0.0	0.0
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	0.5
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)	155.7	255.5	258.0	306.2	343.3
A. LIABILITIES (300=210+330)	67.0	69.0	71.5	90.4	78.6
I. Short -term liabilities	50.9	51.5	51.0	62.3	49.5
1. Short-term trade accounts payable	9.4	15.3	11.7	26.2	20.3
2. Short-term advances from customers	0.1	0.1	0.1	0.1	0.1
3. Taxes and other payables to state authorities	0.1	0.0	0.0	0.0	0.0
4. Payable to employees	0.2	0.2	0.2	0.3	0.0
5. Short-term acrrued expenses	1.5	0.8	1.1	0.7	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	3.3	1.4	2.2	2.1	1.1
9. Other short-term payables	21.0	20.3	21.5	21.9	0.0
10. Short-term borrowings and financial leases	15.3	13.4	14.1	10.9	1.4
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	0.0	0.0	0.0	0.0	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	16.1	17.5	20.5	28.1	29.1
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	10.1	11.6	14.7	12.2	13.1
7. Other long-term liabilities	6.0	5.9	5.8	16.0	0.0
8. Long-term borrowings and financial leases	—	0.0	0.0	0.0	0.0
9. Convertible bonds	—	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	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)	88.7	186.5	186.5	215.8	264.7
I. Owner's equity	88.7	186.5	186.5	215.8	0.0
1. Owner's capital	262.1	262.1	262.1	262.1	264.7
- Common stock with voting right	262,061,580,000.00	262,061,580,000.00	262,061,580,000.00	262,061,580,000.00	262,061,580,000.00
- 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	—	0.0	0.0	0.0	0.0
5. Treasury shares	-1,682,000.00	-1,682,000.00	-1,682,000.00	-1,682,000.00	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	—	1.2	0.0	1.2	0.0
9. Fund to support corporate restructuring	—	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	1.2	0.0	1.2	0.0	0.0
11. Undistributed earnings after tax	-174.5	-76.8	-76.8	-47.5	1.4
- Accumulated retained earning at the end of the previous period	-176.9	-76.8	-47.5	-48.3	-22.6
- Undistributed earnings in this period	2.4	0.0	-29.3	0.8	24.0
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)	155.7	255.5	258.0	306.2	343.3

Item	2025	2024	2023	2022	2021
Profit Before Tax	—	0.0	0.0	0.0	0.0
Depreciation of Fixed Assets and Investment Property	—	0.0	0.0	0.0	0.0
Provision (Increase)/Reversal	—	0.0	0.0	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	—	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	—	0.0	0.0	0.0	0.0
Interest Expense	—	0.0	0.0	0.0	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	—	0.0	0.0	0.0	0.0
Increase/(Decrease) in Receivables	—	0.0	0.0	0.0	0.0
Increase/(Decrease) in Inventory	—	0.0	0.0	0.0	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	—	0.0	0.0	0.0	0.0
Increase/(Decrease) in Prepaid Expenses	—	0.0	0.0	0.0	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	—	0.0	0.0	0.0	0.0
Corporate Income Tax Paid	—	0.0	0.0	0.0	0.0
Other Operating Receipts	2.9	0.8	5.4	56.2	0.0
Other Operating Payments	-81.1	-1.5	-6.2	-61.0	0.0
Net Cash Flow from Operating Activities	-109.2	8.7	-3.2	-4.0	8.5
Payments for Fixed Assets and Other Long-term Assets	-3.7	0.0	0.0	0.0	-0.1
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	—	0.0	0.0	0.0	-16.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	0.0	0.0	0.0	0.0
Investments in Other Entities	—	0.0	-67.1	0.0	-40.5
Proceeds from Investments in Other Entities	79.8	0.0	70.4	0.0	0.0
Dividends and Interest Income Received	0.0	0.9	0.2	1.6	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	107.2	-8.4	0.5	-5.8	-8.1
Proceeds from Equity Issuance and Capital Contributions	—	0.00	0.00	0.00	0.00
Share Repurchases	—	0.00	0.00	0.00	0.00
Proceeds from Borrowings	22.3	18.5	25.0	12.6	1.5
Repayment of Borrowings	-20.4	-19.1	-21.9	-3.2	-1.8
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	—	0.0	0.0	0.0	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	1.9	-0.7	3.1	9.5	-0.2
Net Cash Flow During the Period	-0.1	-0.4	0.5	-0.3	-1.4
Cash and Cash Equivalents at Beginning of Period	0.3	0.6	0.2	0.5	0.3
FX Difference from Revaluation	0.0	-0.0	-0.0	-0.0	0.1
Cash and Cash Equivalents at End of Period	0.1	0.3	0.6	0.2	0.5

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	10.2	6.2	5.6	5.3	4.4	12.1	10.5	16.2	7.1	10.2	13.4	15.3
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	10.2	6.2	5.6	5.3	4.4	12.1	10.5	16.2	7.1	10.2	13.4	15.3
Cost of Goods Sold	9.5	5.7	5.2	4.8	3.9	12.8	10.0	11.3	6.9	10.6	13.2	14.5
Gross Profit	0.7	0.5	0.4	0.4	0.5	-0.7	0.5	4.9	0.2	-0.4	0.1	0.8
Financial Income	0.2	0.1	0.1	0.1	0.9	0.7	0.7	0.7	0.7	10.5	0.4	1.3
Financial Expenses	0.2	-73.7	0.2	0.3	0.2	-7.0	-0.0	0.3	0.2	0.1	0.3	0.4
Interest Expense	0.2	0.3	0.2	0.3	0.2	0.2	-0.0	0.3	0.2	0.3	0.3	0.4
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
General and Administrative Expenses	-2.3	67.4	1.3	1.0	1.2	1.5	0.9	0.7	0.9	2.0	0.9	1.1
Operating Profit	2.9	6.9	-1.1	-0.8	-0.0	5.5	0.4	4.6	-0.2	8.0	-0.6	0.5
Other Income	—	0.0	—	—	0.0	0.7	0.0	0.0	0.0	0.1	0.0	0.0
Other Expenses	—	0.0	0.2	0.0	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Profit	—	0.0	-0.2	-0.0	0.0	0.7	-0.0	-0.0	0.0	0.1	-0.0	-0.0
Profit Before Tax	2.9	6.9	-1.3	-0.8	-0.0	6.2	0.4	4.6	-0.2	8.0	-0.6	0.5
Current Income Tax Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Deferred Income Tax Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	2.9	6.9	-1.3	-0.8	-0.0	6.2	0.4	4.6	-0.2	8.0	-0.6	0.5
Non-controlling Interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	2.9	6.9	-1.3	-0.8	-0.0	6.2	0.4	4.6	-0.2	8.0	-0.6	0.5
Earnings per Share	111.78	262.70	-49.68	-29.93	-1.14	238.43	13.65	175.14	-8.64	307.14	-24.55	19.85
Diluted EPS	111.78	262.70	-49.68	-29.93	-1.14	238.43	13.65	175.14	-8.64	307.14	-24.55	19.85

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)	37.2	33.0	67.7	43.9	87.6	83.4	78.6	88.3	94.7	83.5	72.3	69.3
I. Cash and cash equivalents	2.9	0.1	0.1	0.2	11.6	0.3	0.2	0.4	24.4	0.6	0.5	0.9
1. Cash	2.9	0.1	0.1	0.2	11.6	0.3	0.2	0.4	24.4	0.6	0.5	0.9
2. Cash equivalents	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Short-term financial investments	12.1	5.6	5.6	5.6	5.6	5.6	5.6	5.6	5.6	5.6	5.6	5.6
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	17.4	5.6	5.6	5.6	5.6	5.6	5.6	5.6	5.6	5.6	5.6	5.6
4. Provision for short-term investments held to maturity (*)	-5.3	—	—	—	—	—	—	—	—	—	—	—
III. Short-term receivables	22.1	27.2	56.2	38.1	70.4	77.4	69.5	78.9	61.2	77.2	59.0	55.4
1. Short-term trade accounts receivable	21.6	23.9	25.8	32.7	40.0	40.2	40.3	40.0	45.6	35.7	21.4	14.0
2. Short-term prepayments to suppliers	2.0	2.2	2.1	2.3	2.3	2.3	2.6	2.5	2.2	5.5	5.6	5.5
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	—	11.8	5.3	5.3	35.1	42.9	34.7	34.3	11.0	33.5	23.6	26.7
6. Other short-term receivables	101.0	100.8	103.3	19.2	14.5	13.6	13.2	12.5	12.8	12.0	18.1	18.8
7. Provision for short-term doubtful debts (*)	-102.6	-111.5	-80.4	-21.5	-21.5	-21.5	-21.2	-10.3	-10.3	-9.6	-9.7	-9.7
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	0.0	0.0	5.3	0.0	0.0	0.0	3.2	3.2	3.2	0.0	6.7	6.7
1. Inventories	0.0	0.0	5.3	0.0	0.0	0.0	3.2	3.2	3.2	0.0	6.7	6.8
2. Provision for decline in value of inventories	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	-0.1
V. Other short-term assets	0.1	0.0	0.5	0.1	0.0	0.1	0.1	0.2	0.2	0.0	0.5	0.6
1. Short-term prepayments	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.1
2. Value added tax to be reclaimed	—	—	0.5	0.1	—	0.1	0.1	0.2	0.2	0.0	0.5	0.5
3. Taxes and other receivables from state authorities	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. 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)	122.3	123.0	86.3	208.9	209.3	172.1	167.6	167.8	168.1	211.3	235.6	236.2
I. Long-term receivables	1.0	1.0	1.0	11.0	11.0	11.0	11.0	11.0	11.0	11.0	11.0	11.0
1. Long-term trade receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	1.0	1.0	1.0	11.0	11.0	11.0	11.0	11.0	11.0	11.0	11.0	11.0
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	18.4	18.7	19.0	19.3	19.6	14.4	14.6	12.8	17.5	17.7	22.9	23.3
1. Tangible fixed assets	18.4	18.7	19.0	19.3	19.6	14.4	14.6	12.8	17.5	17.7	22.9	23.3
- Cost	30.8	—	—	—	—	25.3	25.3	22.2	29.5	29.5	50.3	50.3
- Accumulated depreciation	-12.4	—	—	—	—	-10.9	-10.8	-9.4	-12.0	-11.8	-27.4	-27.1
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	0.2	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-0.2	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	9.1	9.2	9.3	9.4	9.5	9.7	9.8	11.8	7.4	7.5	7.6	7.7
- Cost	16.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-6.9	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	75.9	75.9	75.9	75.9	75.9	80.7	75.9	75.9	75.9	75.9	75.9	75.9
1. Long-term production in progress	75.9	75.9	75.9	75.9	75.9	75.9	75.9	75.9	75.9	75.9	75.9	75.9
2. Construction in progress	—	—	—	—	—	4.8	0.0	0.0	0.0	0.0	0.0	0.0
V. Long-term financial investments	17.9	18.1	-18.9	93.2	93.2	56.3	56.3	56.3	56.3	99.1	117.2	117.2
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	72.7	72.7	72.7	146.7	146.7	72.7	72.7	72.7	72.7	72.7	149.0	149.0
3. Investments in other entities	49.6	49.6	49.6	49.6	49.6	86.7	101.9	101.9	101.9	101.9	44.8	44.8
4. Provision for diminution in value of long-term investments	-104.4	-104.2	-141.3	-103.1	-103.1	-103.1	-118.3	-118.3	-118.3	-75.5	-76.7	-76.7
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	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	1.0	1.1
1. Long-term prepayments	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	1.0	1.1
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)	159.5	156.0	154.0	252.8	296.9	255.5	246.2	256.1	262.8	294.8	307.8	305.4
A. LIABILITIES (300=210+330)	67.8	67.0	69.5	66.9	110.4	69.0	66.0	65.3	76.5	71.9	93.0	90.1
I. Short -term liabilities	49.4	50.9	48.7	46.6	94.1	51.5	48.7	49.5	56.2	51.4	63.2	60.8
1. Short-term trade accounts payable	9.4	9.4	15.3	9.7	54.1	15.3	11.5	10.8	16.6	11.7	23.2	20.3
2. Short-term advances from customers	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1
3. Dividends and profits payable	17.0	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	0.1	0.1	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.1
4. Payable to employees	0.4	0.2	0.2	0.2	0.3	0.2	0.3	0.3	0.2	0.2	0.4	0.3
5. Short-term acrrued expenses	1.5	1.5	0.7	0.9	0.8	0.8	0.9	1.2	1.2	1.1	0.6	0.5
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	0.9	3.3	0.8	1.1	2.6	1.4	0.9	2.4	2.4	2.2	1.8	2.5
9. Other short-term payables	4.0	21.0	21.1	20.4	20.4	20.3	21.7	21.5	21.5	21.5	22.3	22.3
10. Short-term borrowings and financial leases	15.9	15.3	10.5	14.2	15.7	13.4	13.4	13.3	14.1	14.1	14.8	14.7
11. Provision for short-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.4	0.0	0.0
12.. Bonus and welfare fund	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	18.4	16.1	20.8	20.3	16.4	17.5	17.2	15.8	20.3	20.5	29.8	29.2
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	12.5	10.1	12.7	11.8	10.5	11.6	11.3	9.9	14.5	14.7	13.9	13.3
7. Other long-term liabilities	6.0	6.0	5.9	5.9	5.9	5.9	5.9	5.8	5.8	5.8	16.0	16.0
8. Long-term borrowings and financial leases	—	—	2.2	2.5	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Convertible bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	—	—	—	—	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)	91.7	89.0	84.5	185.9	186.5	186.5	180.3	190.9	186.3	222.8	214.8	215.4
I. Owner's equity	91.7	89.0	84.5	185.9	186.5	186.5	180.3	190.9	186.3	222.8	214.8	215.4
1. Owner's capital	262.1	262.1	262.1	262.1	262.1	262.1	262.1	262.1	262.1	262.1	262.1	262.1
- Common stock with voting right	262,061,580,000.00	262,061,580,000.00	262,061,580,000.00	262,061,580,000.00	262,061,580,000.00	262,061,580,000.00	262,061,580,000.00	262,061,580,000.00	262,061,580,000.00	262,061,580,000.00	262,061,580,000.00	262,061,580,000.00
- Preferred stock	—	—	—	—	—	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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Treasury shares	-1,682,000.00	-1,682,000.00	-1,682,000.00	-1,682,000.00	-1,682,000.00	-1,682,000.00	-1,682,000.00	-1,682,000.00	-1,682,000.00	-1,682,000.00	-1,682,000.00	-1,682,000.00
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	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2
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	-171.6	-174.3	-178.8	-77.4	-76.8	-76.8	-83.0	-72.4	-77.0	-40.5	-48.5	-47.9
- Accumulated retained earning at the end of the previous period	-174.5	-176.9	-176.7	-76.6	-76.8	-76.8	-76.8	-76.8	-76.8	-47.5	-47.5	-47.5
- Undistributed earnings in this period	2.9	2.6	-2.1	-0.8	-0.0	0.0	-6.2	4.4	-0.2	7.0	-1.0	-0.4
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)	159.5	156.0	154.0	252.8	296.9	255.5	246.2	256.1	262.8	294.8	307.8	305.4

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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Depreciation of Fixed Assets and Investment Property	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Provision (Increase)/Reversal	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Increase/(Decrease) in Receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Increase/(Decrease) in Inventory	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Increase/(Decrease) in Prepaid Expenses	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Corporate Income Tax Paid	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Receipts	0.1	—	—	—	—	0.4	0.4	-0.0	0.0	1.9	2.0	0.4
Other Operating Payments	-0.5	0.0	-75.6	-4.5	-1.1	-0.8	-0.6	0.2	-0.4	6.7	-1.1	-0.9
Net Cash Flow from Operating Activities	2.1	-27.9	-44.0	-37.8	0.4	8.2	0.2	-0.8	1.1	10.8	-3.7	-8.4
Payments for Fixed Assets and Other Long-term Assets	—	-0.7	0.7	-0.7	-3.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	-67.1	0.0	0.0
Proceeds from Investments in Other Entities	—	-41.5	86.6	—	34.8	0.0	0.0	0.0	0.0	65.4	0.0	5.0
Dividends and Interest Income Received	—	0.0	0.0	0.0	0.0	0.0	0.0	0.9	0.0	-0.0	0.0	0.2
Increase/(Decrease) in Term Deposits	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	—	25.3	48.0	25.3	8.5	-8.2	-0.4	-22.4	22.5	-9.9	3.1	8.9
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	0.00	0.00	0.00
Proceeds from Borrowings	9.0	4.7	4.8	5.4	7.5	4.8	4.5	8.7	0.5	11.0	0.5	9.5
Repayment of Borrowings	-8.4	-2.1	-8.8	-4.3	-5.2	-4.8	-4.5	-9.5	-0.4	-11.7	-0.4	-9.4
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	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	0.6	2.6	-4.1	1.1	2.3	-0.0	0.0	-0.8	0.1	-0.7	0.1	0.1
Net Cash Flow During the Period	2.8	0.0	-0.0	-11.4	11.3	0.1	-0.2	-24.0	23.8	0.2	-0.5	0.7
Cash and Cash Equivalents at Beginning of Period	0.1	0.1	0.2	11.6	0.3	0.6	0.6	0.6	0.6	0.2	0.2	0.2
FX Difference from Revaluation	—	0.0	0.0	0.0	—	0.0	0.0	-0.0	0.0	-0.0	0.0	-0.0
Cash and Cash Equivalents at End of Period	2.9	0.1	0.1	0.2	11.6	0.3	0.2	0.4	24.4	0.6	0.5	0.9

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SDA

What Is Changing

Drivers of SDA's profit

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What is driving the margin? ▲

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Is capital being deployed efficiently? ●

Balance Sheet ●

Working Capital Efficiency ▲▲

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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