SGP

Cảng Sài Gòn ·UPCOM ·2026Q1

▲▲ Improving positively

Operating efficiency is improving Net margin 32.11%, +11.15pp YoY

Price

22,600

Latest close

04 Jun 2026

P/E 12.33x

P/B 1.45x

EPS 1,833

BVPS 15,543

ROE 12.6%

ROA 6.7%

Profit Margin 31.6%

Asset Turnover 0.21x

Equity Mult. 1.88x

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

What Is Changing

On a TTM 2026Q1 basis, SGP has not accelerated revenue sharply, but profitability is improving visibly — earnings have been recovering gradually over multiple periods. However, a significant portion of profit is supported by non-core sources, making the picture not entirely clear.

	                            
	                                TTM REVENUE
	                            
	                                    VND 1,257bn
	                                
+13.5%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 404bn
	                                
+73.8%YoY

	                            
	                                Non-core income / PBT
	                            
	                                    32.1%

Metric	2025	2024	2023	2022	2021
Revenue	1,225.9	1,105.6	942.5	1,112.5	1,372.1
Growth	+11%	+17%	-15%	-19%	—
Net Income	368.5	158.3	297.9	203.6	893.4
Net Margin	30.06%	14.31%	31.61%	18.30%	65.11%

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	293.7	357.8	330.1	275.0	263.0	291.7	245.3	307.6	260.9	269.2	233.7	232.1
Growth	-18%	+8%	+20%	+5%	-10%	+19%	-20%	+18%	-3%	+15%	+1%	—
Net Income	144.7	-19.4	171.5	106.8	109.6	44.6	6.6	71.4	49.6	68.9	94.1	108.7
Net Margin	49.25%	-5.43%	51.94%	38.83%	41.67%	15.30%	2.67%	23.21%	19.01%	25.61%	40.28%	46.83%

Drivers of SGP's profit

TTM

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

Finance costs ↓ 175.9bn

Associates income ↑ 122.6bn

Gross profit ↑ 71.2bn

Administrative expenses ↓ 42.7bn

Other profit ↓ 137.8bn

Financial income ↓ 103.1bn

TTM

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

Associates income ↑ 23.2bn

Gross profit ↑ 13.0bn

Deferred tax ↓ 6.4bn

Tax ↑ 9.6bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 8.1% = 21.0% × 0.20 × 1.96

2026Q1 12.8% = 32.1% × 0.21 × 1.88

ROE rose from 8.1% to 12.8% — mainly driven by net margin, despite leverage moving in the opposite direction.

Net margin: 32.1% +11.1pp Asset turnover: 0.21x +0.01x Leverage: 1.88x -0.08x

Is the profit sustainable?

Margins improved (+11.1pp), 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 32.11%, rising 11.1pp. The main driver is SG&A / Revenue fell 5.8pp and Gross margin rose 2.2pp, moving in line with the stronger net margin (in addition, Net financial result / Revenue rose 5.2pp added support while Other profit / Revenue fell 10.8pp remained a drag).

The improvement comes from core operations — this is a high-quality margin expansion.

Profitability trend

Net Margin 32.11% +11.1pp

Gross Margin 31.64% +2.2pp

SG&A / Revenue 14.44% −5.8pp

Non-core / Revenue -1.85% −5.6pp

TTM YoY · 2025Q1 -> 2026Q1

Watchpoints

Non-core sources share remains high

Even though contribution decreased by 5.6pp, non-core sources still accounts for 59.2% of PBT — earnings durability should be monitored in coming periods.

Is capital being used efficiently?

Capital is being used more efficiently — ROIC rose and cash cycle shortened to 64.0 days.

Is capital being deployed efficiently?

ROIC expanded to 19.31%, rising 9.9pp. That translates to 19.31 in after-tax operating profit for every 100 units of operating capital. The main driver is NOPAT margin rose 20.6pp, with capital turnover broadly stable; while invested capital rose by 196bn.

Capital efficiency improved through NOPAT margin — this is a quality-led improvement when operating profit leads.

CAPITAL EFFICIENCY TREND

ROIC 19.31% +9.9pp

NOPAT Margin 42.41% +20.6pp

Capital Turnover 0.46x +0.02x

Average Invested Capital 2,760.1bn +196.3bn

Balance Sheet

ROIC is improving — the asset structure below shows how capital is being allocated. Balance sheet is exceptionally sound — liabilities at 0.90x equity, with a net cash position equivalent to 0.13x equity.

Over the last 12 months, working capital released 75.7bn of cash, mainly thanks to higher payables. Pressure from higher receivables and higher inventories only partly offset that benefit.

Working Capital Drivers

Receivables increased → lower CFO: −130.8bn

Inventories increased → lower CFO: −12.8bn

Payables increased → higher CFO: +219.3bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 17.6 days versus the same period last year. The main moves came from DIO rose 2.1 days, DSO fell 24.9 days, and DPO fell 5.2 days.

Improvement comes mainly from faster receivables collection — reflects the quality of receivables management.

Watchpoints

Inventory turnover is slowing

DIO increased by +2.1 days, suggesting more capital is being tied up in inventories.

Working Capital Efficiency

Receivables 89.6 days −24.9 days

Inventory 9.7 days +2.1 days

Payables 35.2 days −5.2 days

Cash Conversion Cycle 64.0 days −17.6 days

Is financial risk significant?

Financial risk is low — the company has net cash and CFO reached 165.3bn.

Leverage & Liquidity

Leverage looks fairly comfortable, with net debt / equity at -0.13x and interest coverage at 14.40x.

At present, short-term debt accounts for 66.7% of total debt, cash equals 1100.2% of debt, and total debt stands at 43.9bn.

Watchpoints

Short-term refinancing pressure is meaningful

Short-term debt accounts for 66.7% of total debt, raising near-term refinancing needs.

Leverage and liquidity trend

Net Debt / Equity -0.13x −0.01x

Interest Coverage 14.40x +12.99x

Cash / Debt 1100.2% +517.4pp

Short-term Debt / Total Debt 66.7% +26.7pp

CFO / NI 0.21x −0.04x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 165.3bn in 2025, against investing cash flow of -92.8bn.

Post-investment cash flow was positive +72.5bn. Financing cash flow was negative +32.0bn.

CFO / net income was 0.21x.

After spending +55.1bn on fixed-asset investment, the business generated trailing free cash flow of +28.3bn.

Cash Conversion

CFO TTM 83.4bn +23.5bn

Cash Capex 55.1bn +28.4bn

FCF TTM +28.3bn −4.8bn

Investment Takeaway

The business is heading the right way, but the current picture is still at partial confirmation — not yet a fully clean case. The positive points have clearly improved, showing the operating base is better than before. The brighter spot is operating efficiency, with net margin improving 11.1 pp. The next item to monitor is the earnings mix, when non-core contribution is 27.1%.

Improvement: operating efficiency is getting better, with trailing-12M net margin at 32.11% after expanding 11.1pp versus the same period last year.

Watchpoint: the earnings mix still needs monitoring, with net financial result still accounting for 27.1% of PBT and CFO / net income currently at 0.21x.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	1,225.9	1,105.6	942.5	1,112.5	1,372.1
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	1,225.9	1,105.6	942.5	1,112.5	1,372.1
Cost of Goods Sold	839.5	780.8	621.2	736.4	0.0
Gross Profit	386.5	324.8	321.3	376.1	563.5
Financial Income	168.5	265.5	78.5	54.6	82.6
Financial Expenses	42.2	211.0	6.7	17.2	-5.4
Interest Expense	36.2	0.9	5.3	12.7	-4.7
Share of Associates and Joint Ventures	251.2	104.0	42.4	53.3	533.2
Selling Expenses	—	0.0	0.0	0.0	-0.0
General and Administrative Expenses	184.0	235.0	64.5	226.6	-189.4
Operating Profit	579.9	248.3	370.8	240.2	984.6
Other Income	8.2	17.6	14.5	10.2	0.0
Other Expenses	158.8	41.3	22.2	9.4	0.0
Other Profit	-150.6	-23.7	-7.8	0.8	-5.1
Profit Before Tax	429.3	224.5	363.1	241.0	979.5
Current Income Tax Expense	116.4	79.9	78.2	49.1	-86.0
Deferred Income Tax Expense	-55.6	-13.6	-13.1	-11.7	0.0
Net Income	368.5	158.3	297.9	203.6	893.4
Non-controlling Interest	5.0	-12.9	2.2	4.0	5.2
Profit Attributable to Parent	363.5	171.2	295.7	199.6	888.2
Earnings per Share	1,681.00	791.00	1,367.00	921.00	4,106.00
Diluted EPS	1,681.00	791.00	1,367.25	923.04	4,106.58

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	2,049.1	1,634.2	1,162.4	1,695.3	1,873.4
I. Cash and cash equivalents	544.4	504.0	390.6	202.3	225.1
1. Cash	188.4	245.2	142.7	164.4	0.0
2. Cash equivalents	356.1	258.8	247.9	37.8	0.0
II. Short-term financial investments	745.7	356.2	251.5	853.3	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	745.7	356.2	251.5	853.3	0.0
III. Short-term receivables	661.4	586.4	319.7	437.2	466.1
1. Short-term trade accounts receivable	200.2	221.2	207.3	520.4	0.0
2. Short-term prepayments to suppliers	23.0	14.7	10.6	9.7	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	234.7	202.0	63.8	0.0	0.0
6. Other short-term receivables	228.8	203.8	83.0	79.6	0.0
7. Provision for short-term doubtful debts (*)	-25.3	-55.3	-45.1	-172.6	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	22.3	16.2	13.7	20.2	13.1
1. Inventories	22.3	16.2	13.7	20.2	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	75.2	171.3	186.9	182.4	186.1
1. Short-term prepayments	11.6	1.5	12.4	4.4	0.0
2. Value added tax to be reclaimed	42.9	41.4	43.2	49.5	0.0
3. Taxes and other receivables from state authorities	20.7	128.4	131.3	128.5	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)	4,049.2	4,123.0	4,204.2	3,701.0	3,547.6
I. Long-term receivables	600.5	816.0	918.1	391.9	0.0
1. Long-term trade receivables	81.4	93.6	102.8	90.1	300.9
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	126.5	337.1	514.1	0.0	0.0
6. Other long-term receivables	392.6	385.3	301.1	301.8	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	1,625.9	1,711.2	1,546.7	1,635.8	1,729.3
1. Tangible fixed assets	1,603.5	1,687.5	1,521.8	1,609.7	1,704.1
- Cost	3,784.0	3,792.8	3,592.1	3,604.3	0.0
- Accumulated depreciation	-2,180.6	-2,105.3	-2,070.2	-1,994.6	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	22.4	23.7	24.9	26.1	25.2
- Cost	77.5	77.4	77.2	76.9	0.0
- Accumulated depreciation	-55.1	-53.7	-52.3	-50.8	0.0
III. Investment properties	165.4	170.9	176.3	181.7	187.1
- Cost	222.2	222.2	222.2	222.2	0.0
- Accumulated depreciation	-56.8	-51.3	-45.9	-40.5	0.0
IV. Long-term assets in progress	86.5	103.0	413.0	387.3	312.9
1. Long-term production in progress	39.3	39.1	38.9	38.8	0.0
2. Construction in progress	47.1	63.8	374.0	348.5	0.0
V. Long-term financial investments	1,550.1	1,307.7	1,131.8	1,067.0	1,013.5
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	1,247.4	976.2	800.1	735.3	0.0
3. Investments in other entities	470.7	499.5	499.4	499.4	0.0
4. Provision for diminution in value of long-term investments	-168.0	-168.0	-167.7	-167.7	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	20.9	14.3	18.3	37.3	0.0
1. Long-term prepayments	9.1	1.5	4.3	22.9	0.0
2. Deferred income tax assets	11.8	12.8	14.0	14.4	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	3.9
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)	6,098.3	5,757.2	5,366.6	5,396.4	5,420.9
A. LIABILITIES (300=210+330)	2,884.3	2,880.7	2,522.8	2,709.2	2,857.7
I. Short -term liabilities	892.1	767.5	415.4	563.9	675.2
1. Short-term trade accounts payable	97.3	64.7	84.6	90.9	132.8
2. Short-term advances from customers	4.5	3.1	2.3	7.1	4.0
3. Taxes and other payables to state authorities	162.6	115.3	120.2	97.3	0.0
4. Payable to employees	123.8	110.7	69.3	55.9	0.0
5. Short-term acrrued expenses	18.2	16.2	16.1	17.0	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	—	0.0	0.0	0.0	0.0
9. Other short-term payables	424.1	403.1	63.7	41.3	0.0
10. Short-term borrowings and financial leases	29.3	28.3	28.0	221.9	289.7
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	32.2	25.9	31.2	32.4	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	1,992.1	2,113.2	2,107.4	2,145.3	2,182.5
1. Long-term trade payables	—	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	0.0	0.0	0.0	0.0
7. Other long-term liabilities	1,794.2	1,830.8	1,782.8	1,780.4	0.0
8. Long-term borrowings and financial leases	14.7	42.5	70.0	96.8	121.5
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	183.3	239.9	254.6	268.1	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)	3,214.0	2,876.5	2,843.8	2,687.2	2,563.2
I. Owner's equity	3,214.0	2,876.5	2,843.8	2,687.2	0.0
1. Owner's capital	2,162.9	2,162.9	2,162.9	2,162.9	2,563.2
- Common stock with voting right	2,162,949,610,000.00	2,162,949,610,000.00	2,162,949,610,000.00	2,162,949,610,000.00	2,162,949,610,000.00
- 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	—	0.00	0.00	0.00	0.00
6. Assets revaluation differences	-2.1	-2.1	-2.1	-2.1	0.0
7. Foreign exchange differences	91.2	111.3	39.0	18.1	0.0
8. Investment and development fund	349.6	307.9	127.9	70.6	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	492.5	178.8	364.9	284.1	209.2
- Accumulated retained earning at the end of the previous period	129.0	7.6	69.2	84.8	-679.0
- Undistributed earnings in this period	363.5	171.2	295.7	199.3	888.2
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	119.8	117.7	151.1	153.5	152.5
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)	6,098.3	5,757.2	5,366.6	5,396.4	5,420.9

Item	2025	2024	2023	2022	2021
Profit Before Tax	429.3	224.5	363.1	241.0	979.5
Depreciation of Fixed Assets and Investment Property	107.2	93.3	102.1	108.5	106.9
Provision (Increase)/Reversal	-30.0	10.5	-127.5	82.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	4.9	18.5	-12.9	2.8	0.0
Gain/Loss from Investment Activities	-392.3	-217.4	-102.7	-103.0	0.0
Interest Expense	36.2	0.9	5.3	12.7	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	0.3	0.1	0.0
Operating Profit Before Changes in Working Capital	155.3	130.3	227.7	344.0	714.1
Increase/(Decrease) in Receivables	134.3	-244.2	314.6	-18.7	0.0
Increase/(Decrease) in Inventory	-6.2	-2.7	6.3	-8.0	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-4.8	377.6	-6.9	-64.5	0.0
Increase/(Decrease) in Prepaid Expenses	-17.7	13.8	10.7	-20.7	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-0.7	-0.9	-5.5	-12.7	0.0
Corporate Income Tax Paid	-68.9	-87.5	-46.8	-78.1	0.0
Other Operating Receipts	4.8	0.0	0.0	0.0	0.0
Other Operating Payments	-30.7	-10.8	-30.6	-25.0	0.0
Net Cash Flow from Operating Activities	165.3	175.6	469.5	116.4	956.8
Payments for Fixed Assets and Other Long-term Assets	-33.7	-55.8	-31.3	-99.6	-36.5
Proceeds from Disposal of Fixed Assets and Long-term Assets	2.5	4.2	3.2	0.5	0.6
Loans and Purchases of Debt Instruments	-501.2	-181.7	-564.4	-427.9	-1,433.7
Receipts from Loan Repayments and Sale of Debt Instruments	302.2	142.0	601.8	553.6	790.7
Investments in Other Entities	—	-0.1	0.0	-0.2	-416.1
Proceeds from Investments in Other Entities	77.8	0.2	0.0	0.0	0.0
Dividends and Interest Income Received	59.7	100.8	55.0	57.4	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	-92.8	9.6	64.2	83.7	-1,053.5
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	—	0.0	1.3	206.0	223.0
Repayment of Borrowings	-29.2	-28.1	-222.4	-301.1	-66.8
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-2.8	-44.0	-124.2	-131.8	-4.6
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	-32.0	-72.1	-345.3	-226.9	151.7
Net Cash Flow During the Period	40.5	113.1	188.4	-26.8	-54.8
Cash and Cash Equivalents at Beginning of Period	504.0	390.6	202.3	229.1	170.1
FX Difference from Revaluation	-0.0	0.2	-0.0	-0.0	0.0
Cash and Cash Equivalents at End of Period	544.4	504.0	390.6	202.3	225.1

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	293.7	357.8	330.1	275.0	263.0	291.7	245.3	307.6	260.9	269.2	233.7	232.1
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	293.7	357.8	330.1	275.0	263.0	291.7	245.3	307.6	260.9	269.2	233.7	232.1
Cost of Goods Sold	189.4	270.5	196.9	202.3	171.7	198.4	210.8	200.5	169.5	175.7	157.0	154.3
Gross Profit	104.3	87.3	133.2	72.7	91.4	93.3	34.6	107.1	91.4	93.5	76.6	77.8
Financial Income	19.8	54.7	57.4	37.6	18.8	219.5	11.8	22.6	11.6	23.9	11.2	24.2
Financial Expenses	9.7	15.8	9.7	7.7	9.0	207.7	1.1	0.9	1.2	-8.9	5.4	5.4
Interest Expense	9.6	9.9	9.5	7.7	0.2	0.2	0.2	0.2	0.2	-8.5	4.6	4.6
Share of Associates and Joint Ventures	83.2	60.4	67.9	63.0	60.0	31.0	36.4	24.4	10.4	-1.4	13.8	35.8
Selling Expenses	0.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
General and Administrative Expenses	38.7	39.8	55.7	47.2	39.9	78.2	58.3	47.7	49.6	44.9	-21.2	-10.4
Operating Profit	159.0	146.8	193.1	118.4	121.2	57.8	23.4	105.5	62.6	80.0	117.4	142.8
Other Income	1.2	2.6	1.6	1.6	2.5	9.1	3.1	2.9	2.5	4.4	3.9	3.2
Other Expenses	0.2	156.4	0.1	0.1	2.0	5.1	3.5	19.0	2.1	5.5	2.8	11.8
Other Profit	0.9	-153.9	1.5	1.5	0.5	3.9	-0.4	-16.1	0.4	-1.1	1.2	-8.6
Profit Before Tax	160.0	-7.0	194.6	119.9	121.7	61.8	23.0	89.4	63.0	79.0	118.6	134.1
Current Income Tax Expense	30.6	26.7	41.1	27.5	21.0	34.1	7.3	22.4	16.2	15.1	29.6	31.7
Deferred Income Tax Expense	-15.3	-14.3	-18.0	-14.4	-8.9	-17.0	9.1	-4.3	-2.8	-5.1	-5.1	-6.3
Net Income	144.7	-19.4	171.5	106.8	109.6	44.6	6.6	71.4	49.6	68.9	94.1	108.7
Non-controlling Interest	0.7	3.4	3.3	-0.4	-1.0	-0.9	-4.8	-1.1	-0.6	4.7	-1.5	-0.9
Profit Attributable to Parent	143.9	-22.8	168.2	107.2	110.6	45.5	11.3	72.5	50.2	64.3	95.6	109.6
Earnings per Share	665.00	-106.00	778.00	496.00	511.00	210.00	52.00	335.00	232.00	297.00	442.00	507.00
Diluted EPS	665.00	-106.00	778.00	496.00	511.00	831.00	52.00	335.00	232.00	297.00	442.00	507.00

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	1,914.4	2,047.7	1,975.1	1,741.9	1,610.4	1,641.3	1,384.7	1,265.6	1,157.5	1,158.4	1,207.8	1,126.0
I. Cash and cash equivalents	482.9	553.4	580.0	528.4	417.4	510.1	449.9	398.0	331.5	373.7	431.3	352.1
1. Cash	204.4	188.4	182.2	181.7	153.1	245.2	179.0	146.0	142.0	142.8	139.1	274.5
2. Cash equivalents	278.5	365.1	397.8	346.7	264.3	264.9	270.9	252.0	189.5	230.9	292.2	77.7
II. Short-term financial investments	1,087.1	736.7	548.1	372.6	366.3	350.1	323.6	302.3	261.4	268.5	248.4	206.2
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	1,087.1	736.7	548.1	372.6	366.3	350.1	323.6	302.3	261.4	268.5	248.4	206.2
III. Short-term receivables	238.9	661.6	643.4	650.2	635.5	597.6	422.1	368.0	365.0	318.2	328.7	367.1
1. Short-term trade accounts receivable	187.6	200.3	203.5	242.5	258.4	221.3	266.2	268.4	240.2	206.8	275.1	395.4
2. Short-term prepayments to suppliers	18.6	23.2	23.5	20.8	13.2	15.3	8.3	7.7	9.6	10.8	15.0	13.4
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	—	234.7	222.8	220.1	203.2	202.0	129.9	66.9	65.3	62.9	31.2	0.0
6. Other short-term receivables	59.3	228.7	255.4	227.0	218.0	213.0	72.4	75.8	97.5	83.1	75.9	82.4
7. Provision for short-term doubtful debts (*)	-26.7	-25.3	-61.7	-60.2	-57.3	-54.1	-54.7	-50.9	-47.6	-45.4	-68.5	-124.1
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	27.4	22.3	18.7	18.3	18.1	12.0	13.3	15.9	14.2	13.7	19.4	18.4
1. Inventories	27.4	22.3	18.7	18.3	18.1	12.0	13.3	15.9	14.2	13.7	19.4	18.4
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	78.1	73.6	184.9	172.3	173.1	171.4	175.7	181.5	185.4	184.2	180.1	182.1
1. Short-term prepayments	14.1	9.9	15.6	2.6	3.0	1.6	5.4	11.0	13.8	9.7	2.1	4.0
2. Value added tax to be reclaimed	43.3	42.9	40.9	41.4	41.6	41.4	41.7	42.1	43.1	43.2	49.3	49.3
3. Taxes and other receivables from state authorities	20.7	20.8	128.4	128.4	128.5	128.4	128.6	128.4	128.5	131.3	128.7	128.8
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)	4,133.1	4,049.7	4,162.9	4,162.6	4,183.9	4,078.5	4,076.1	4,223.7	4,221.0	4,187.3	4,237.7	4,240.6
I. Long-term receivables	472.3	595.3	736.8	750.9	828.3	755.8	848.1	930.5	929.8	905.5	937.3	955.6
1. Long-term trade receivables	77.2	81.4	87.8	87.8	93.6	93.6	100.3	100.3	102.8	102.8	102.8	90.1
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	—	126.5	238.5	235.6	339.1	337.1	423.3	505.7	525.9	501.5	533.3	564.4
6. Other long-term receivables	395.2	387.5	410.5	427.5	395.6	325.1	324.5	324.5	301.1	301.2	301.2	301.0
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	1,613.0	1,625.9	1,647.1	1,666.9	1,685.9	1,718.6	1,479.1	1,501.9	1,525.0	1,546.7	1,570.1	1,590.7
1. Tangible fixed assets	1,590.0	1,603.5	1,624.3	1,643.9	1,662.5	1,694.9	1,455.0	1,477.7	1,500.5	1,521.8	1,545.0	1,565.2
- Cost	3,795.6	—	—	—	—	3,808.0	3,594.0	3,594.0	3,594.3	3,592.1	3,602.6	3,607.0
- Accumulated depreciation	-2,205.5	—	—	—	—	-2,113.1	-2,139.0	-2,116.3	-2,093.8	-2,070.2	-2,057.6	-2,041.8
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	23.0	22.4	22.8	23.1	23.5	23.7	24.1	24.1	24.5	24.9	25.1	25.5
- Cost	78.5	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-55.6	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	164.1	165.4	166.8	168.1	169.5	170.9	172.2	173.6	174.9	176.3	177.7	179.0
- Cost	222.2	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-58.1	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	94.2	86.5	83.6	85.2	109.3	113.0	351.7	401.9	417.5	399.9	390.9	390.3
1. Long-term production in progress	39.4	39.3	39.3	39.2	39.2	39.1	39.1	39.1	39.0	38.9	38.8	38.8
2. Construction in progress	54.9	47.1	44.3	46.0	70.1	73.9	312.6	362.8	378.5	361.0	352.1	351.5
V. Long-term financial investments	1,763.2	1,555.1	1,503.0	1,466.2	1,367.6	1,305.9	1,208.6	1,198.2	1,154.8	1,131.8	1,133.5	1,095.0
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	1,333.7	1,252.3	1,198.2	1,124.9	1,037.2	974.4	877.1	866.7	823.3	800.1	801.8	763.3
3. Investments in other entities	470.7	470.7	472.8	496.5	498.4	499.5	499.5	499.5	499.5	499.4	499.4	499.4
4. Provision for diminution in value of long-term investments	-168.0	-168.0	-168.0	-168.0	-168.0	-168.0	-168.0	-168.0	-168.0	-167.7	-167.7	-167.7
5. Held to maturity investments	126.8	—	—	12.8	—	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	26.3	21.5	25.7	25.2	23.3	14.2	16.4	17.7	19.0	27.0	28.2	30.0
1. Long-term prepayments	15.0	9.7	14.3	13.4	11.2	1.4	2.5	4.0	5.1	13.1	14.5	16.0
2. Deferred income tax assets	11.3	11.8	11.4	11.7	12.1	12.8	13.9	13.7	13.9	14.0	13.8	14.0
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)	6,047.5	6,097.4	6,138.1	5,904.5	5,794.4	5,719.8	5,460.7	5,489.3	5,378.5	5,345.7	5,445.5	5,366.6
A. LIABILITIES (300=210+330)	2,685.7	2,878.7	2,888.5	2,831.7	2,851.3	2,829.3	2,677.0	2,700.6	2,614.7	2,504.3	2,672.7	2,710.5
I. Short -term liabilities	759.4	891.7	822.9	756.2	747.3	767.6	583.1	614.0	510.2	396.9	549.2	582.5
1. Short-term trade accounts payable	83.1	97.2	70.7	84.4	82.6	64.9	60.6	71.0	90.4	84.4	76.1	78.1
2. Short-term advances from customers	5.8	4.5	9.2	4.2	11.0	3.2	3.9	4.1	7.7	2.3	6.8	6.2
3. Dividends and profits payable	0.8	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	89.4	162.4	156.0	98.2	80.1	116.2	118.1	89.6	87.4	122.4	157.5	109.0
4. Payable to employees	71.5	124.9	58.7	53.0	46.1	110.8	67.3	65.9	43.6	61.9	32.5	29.8
5. Short-term acrrued expenses	16.9	18.1	16.0	15.7	16.6	15.0	30.0	54.3	33.7	16.1	34.1	35.1
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Other short-term payables	440.4	423.1	443.6	430.4	420.9	403.3	241.7	256.8	196.4	50.6	177.0	173.7
10. Short-term borrowings and financial leases	29.3	29.3	29.5	29.1	28.6	28.4	28.3	28.3	28.0	28.0	27.9	108.1
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	22.3	32.2	39.3	41.2	61.4	25.9	33.2	44.1	23.0	31.2	37.4	42.5
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	1,926.3	1,986.9	2,065.6	2,075.4	2,104.0	2,061.7	2,093.9	2,086.6	2,104.4	2,107.4	2,123.5	2,128.0
1. Long-term trade payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Other long-term liabilities	1,744.2	1,789.0	1,839.0	1,830.8	1,830.8	1,780.8	1,780.8	1,782.7	1,782.7	1,782.8	1,780.2	1,780.3
8. Long-term borrowings and financial leases	14.6	14.7	29.5	29.1	43.0	42.5	56.6	56.6	70.0	70.0	83.8	82.9
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	167.5	183.3	197.1	215.5	230.2	238.5	256.5	247.2	251.7	254.6	259.5	264.9
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)	3,361.8	3,218.7	3,249.6	3,072.9	2,943.1	2,890.5	2,783.8	2,788.7	2,763.9	2,841.3	2,772.8	2,656.1
I. Owner's equity	3,361.8	3,218.7	3,249.6	3,072.9	2,943.1	2,890.5	2,783.8	2,788.7	2,763.9	2,841.3	2,772.8	2,656.1
1. Owner's capital	2,162.9	2,162.9	2,162.9	2,162.9	2,162.9	2,162.9	2,162.9	2,162.9	2,162.9	2,162.9	2,162.9	2,162.9
- Common stock with voting right	2,162,949,610,000.00	2,162,949,610,000.00	2,162,949,610,000.00	2,162,949,610,000.00	2,162,949,610,000.00	2,162,949,610,000.00	2,162,949,610,000.00	2,162,949,610,000.00	2,162,949,610,000.00	2,162,949,610,000.00	2,162,949,610,000.00	2,162,949,610,000.00
- 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	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
6. Assets revaluation differences	-2.1	-2.1	-2.1	-2.1	-2.1	-2.1	-2.1	-2.1	-2.1	-2.1	-2.1	-2.1
7. Foreign exchange differences	92.1	96.1	100.4	95.0	71.7	111.3	44.7	70.8	51.8	39.0	39.3	14.7
8. Investment and development fund	349.6	349.6	349.6	349.6	349.6	307.9	127.9	127.9	127.9	127.9	127.9	127.9
9. Fund to support corporate restructuring	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	638.6	492.1	521.9	353.9	244.9	187.2	320.2	294.1	272.9	362.4	298.2	202.6
- Accumulated retained earning at the end of the previous period	494.7	129.0	136.0	136.1	134.3	7.6	186.1	171.4	222.7	69.2	69.2	69.3
- Undistributed earnings in this period	143.9	363.0	385.9	217.8	110.6	179.7	134.1	122.7	50.2	293.2	229.0	133.4
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	120.5	120.1	116.7	113.5	116.0	123.2	130.1	135.0	150.4	151.2	146.5	150.0
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)	6,047.5	6,097.4	6,138.1	5,904.5	5,794.4	5,719.8	5,460.7	5,489.3	5,378.5	5,345.7	5,445.5	5,366.6

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	-6.7	194.6	119.7	121.7	61.8	23.0	89.5	63.0	78.9	118.6	134.1
Depreciation of Fixed Assets and Investment Property	26.7	26.7	27.0	26.5	27.0	24.4	26.0	24.7	25.2	26.5	24.1	-8.1
Provision (Increase)/Reversal	1.4	-36.4	1.5	2.9	1.9	-1.6	3.8	3.3	2.8	-23.4	-55.6	-48.5
FX Gain/Loss from Revaluation of Monetary Items	-1.2	19.1	-5.4	-8.8	0.0	0.1	0.2	-0.2	0.1	-14.9	1.9	-0.7
Gain/Loss from Investment Activities	-99.8	-141.2	-83.4	-90.7	-77.1	-522.8	62.2	-54.6	-9.1	-19.9	-25.6	-56.4
Interest Expense	9.6	9.9	9.6	16.5	0.2	168.0	-1.2	0.7	-0.2	-8.5	4.6	4.6
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	0.3	-0.0	0.0
Operating Profit Before Changes in Working Capital	96.7	-128.6	143.9	66.1	73.8	-270.1	114.0	63.4	81.8	38.9	68.0	25.0
Increase/(Decrease) in Receivables	8.5	147.2	45.7	-332.1	273.5	264.8	-99.7	-172.0	95.0	237.4	-41.7	128.5
Increase/(Decrease) in Inventory	-5.1	-3.6	-0.4	-3.6	1.4	-0.7	-0.9	-1.5	-0.8	5.6	-1.1	0.5
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-97.7	15.6	-26.6	328.0	-321.8	-21.0	23.9	227.9	-156.6	-188.6	183.5	48.9
Increase/(Decrease) in Prepaid Expenses	-8.4	9.3	-13.9	-21.9	8.8	-5.0	-11.0	-0.8	2.6	-0.0	3.3	13.5
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-0.1	-0.3	16.3	-16.3	-0.4	-0.8	-1.2	-0.8	0.3	0.4	3.6	-6.9
Corporate Income Tax Paid	-114.3	-0.8	-1.0	-0.2	-66.9	-11.4	-1.0	-0.4	-76.9	-0.3	-0.9	-0.2
Other Operating Receipts	0.0	—	—	—	—	82.1	6.1	-0.4	0.4	-0.5	0.5	-0.1
Other Operating Payments	-9.8	6.8	-8.1	-12.2	-17.3	-45.0	-34.0	4.0	-9.3	-3.9	-7.1	-16.4
Net Cash Flow from Operating Activities	-130.4	43.0	162.1	8.7	-48.5	-7.2	-3.9	119.3	-63.5	89.0	208.0	192.8
Payments for Fixed Assets and Other Long-term Assets	-21.7	-42.8	32.1	-22.6	-0.4	-5.6	5.1	-25.8	0.0	-6.1	-5.7	-9.4
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.0	1.0	0.3	1.2	0.0	1.9	-0.1	0.1	0.0	1.4	1.3	0.1
Loans and Purchases of Debt Instruments	-142.8	-64.3	-317.5	-23.0	-96.4	-62.7	-187.2	40.9	-107.9	215.8	-139.2	-615.1
Receipts from Loan Repayments and Sale of Debt Instruments	220.6	-20.7	137.4	131.0	54.4	150.3	241.3	-62.8	111.7	-210.4	100.3	404.2
Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	-0.1	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	51.1	21.0	4.6	1.1	0.2	0.0	0.0	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	12.5	10.6	20.4	25.5	3.1	24.4	-2.6	8.7	2.2	-3.5	14.9	25.4
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	68.6	-65.1	-106.3	116.7	-38.0	108.5	56.4	-38.9	6.0	-2.8	-28.4	-194.7
Proceeds from Equity Issuance and Capital Contributions	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Share Repurchases	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Proceeds from Borrowings	—	—	—	—	—	0.0	0.0	0.0	0.0	1.3	0.0	0.0
Repayment of Borrowings	—	-14.7	0.0	-14.5	—	-14.1	0.0	-14.0	0.0	-14.4	-80.2	-85.3
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	0.2	1.5	-4.2	-0.0	-0.1	-27.1	-0.7	-0.0	-1.7	-113.6	-8.6	-0.3
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	0.2	-13.2	-4.2	-14.5	-0.1	-41.2	-0.7	-14.0	-1.7	-126.8	-88.8	-85.7
Net Cash Flow During the Period	-61.6	-35.3	51.5	110.9	-86.6	60.1	51.8	66.4	-59.2	-40.6	90.8	-87.5
Cash and Cash Equivalents at Beginning of Period	544.4	580.0	528.4	417.4	504.0	390.6	390.6	390.6	390.6	202.3	202.3	202.3
FX Difference from Revaluation	0.0	-0.0	0.2	0.2	0.0	0.0	0.1	0.0	0.1	-0.1	0.1	-0.0
Cash and Cash Equivalents at End of Period	482.9	544.4	580.0	528.4	417.4	510.1	449.9	398.0	331.5	390.6	431.3	340.4

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SGP

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