SMB

Bia Sài Gòn - Miền Trung ·HOSE ·2026Q1

▼ Slightly negative

Price

38,600

Latest close

04 Jun 2026

P/E 6.44x

P/B 1.75x

EPS 5,996

BVPS 22,071

ROE 27.8%

ROA 18.9%

Profit Margin 13.1%

Asset Turnover 1.44x

Equity Mult. 1.47x

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

What Is Changing

On a TTM 2026Q1 basis, SMB posted slightly weaker revenue versus the same period, but margins are still holding — profit momentum has been slowing across consecutive periods. The point still to be proven is whether revenue stabilizes before the pressure reaches margins.

	                            
	                                TTM REVENUE
	                            
	                                    VND 1,365bn
	                                
−3.6%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 179bn
	                                
−2.5%YoY

Metric	2025	2024	2023	2022	2021
Revenue	1,365.3	1,446.4	1,319.9	1,387.3	1,191.2
Growth	-6%	+10%	-5%	+16%	—
Net Income	176.9	178.5	154.3	184.7	158.7
Net Margin	12.95%	12.34%	11.69%	13.32%	13.32%

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	295.6	338.7	370.3	360.2	296.1	377.3	378.2	363.7	327.2	358.4	340.4	132.4
Growth	-13%	-9%	+3%	+22%	-22%	-0%	+4%	+11%	-9%	+5%	+157%	—
Net Income	30.8	32.2	64.0	51.9	28.7	42.7	51.8	60.4	23.6	41.7	41.0	25.8
Net Margin	10.43%	9.51%	17.29%	14.41%	9.70%	11.31%	13.69%	16.62%	7.22%	11.65%	12.05%	19.49%

Drivers of SMB's profit

TTM

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

Gross profit ↑ 43.6bn

Selling expenses ↑ 37.0bn

Administrative expenses ↑ 9.8bn

Financial income ↓ 1.2bn

Finance costs ↑ 0.8bn

TTM

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

Gross profit ↑ 17.3bn

Selling expenses ↑ 10.7bn

Administrative expenses ↑ 3.9bn

Tax ↑ 0.6bn

Other profit ↓ 0.3bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 29.4% = 13.0% × 1.50 × 1.51

2026Q1 27.8% = 13.1% × 1.44 × 1.47

ROE fell from 29.4% to 27.8% — asset turnover weakened the most, though net margin still provided support.

Net margin: 13.1% +0.1pp Asset turnover: 1.44x -0.06x Leverage: 1.47x -0.04x

Is the profit sustainable?

Margins are improving and earnings quality is solid — a durable foundation for ROE.

very positive positive stable watch under pressure

What is driving the margin?

Net margin stands at 13.11%, broadly flat versus the same period. Supportive factors and pressure points are offsetting one another.

Margin is nearly flat but the underlying components are moving — this is a transitional phase, more time is needed to see the real trend.

Profitability trend

Net Margin 13.11% +0.1pp

Gross Margin 32.78% +4.2pp

SG&A / Revenue 17.44% +3.9pp

TTM YoY · 2025Q1 -> 2026Q1

Is capital being used efficiently?

Return on capital rose, but cash cycle lengthened by 3.1 days — working capital needs watching.

Is capital being deployed efficiently?

ROIC expanded to 31.50%, rising 2.3pp. That translates to 31.50 in after-tax operating profit for every 100 units of operating capital. The main driver is capital turnover rose 0.16x — the business is generating more revenue per unit of capital, with NOPAT margin steady; with invested capital easing slightly by 61bn.

Capital efficiency improved through turnover — a positive sign for asset efficiency, but this momentum needs to hold as capital expands.

CAPITAL EFFICIENCY TREND

ROIC 31.50% +2.3pp

NOPAT Margin 13.07% +0.1pp

Capital Turnover 2.41x +0.16x

Average Invested Capital 566.3bn −61.3bn

Balance Sheet

ROIC is improving — the asset structure below shows how capital is being allocated. Balance sheet is exceptionally sound — liabilities at 0.66x equity, with a net cash position equivalent to 0.17x equity.

Inventory ended the period at 190.8bn, roughly 18.3% of total assets.

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

Cash conversion cycle lengthened by 3.1 days versus the same period last year. The main moves came from DIO rose 5.8 days, DSO fell 0.5 days, and DPO rose 2.2 days.

Working capital cycle lengthened mainly due to slower inventory turnover — more capital is being tied up in inventory.

Watchpoints

Cash conversion cycle is lengthening

CCC is up by +3.1 days, indicating weaker working-capital turnover versus the prior year.

Inventory turnover is slowing

DIO increased by +5.8 days, suggesting more capital is being tied up in inventories.

Working Capital Efficiency

Receivables 6.3 days −0.5 days

Inventory 86.5 days +5.8 days

Payables 19.2 days +2.2 days

Cash Conversion Cycle 73.7 days +3.1 days

Is financial risk significant?

Financial risk is low — the company has net cash and CFO reached 229.7bn.

Leverage & Liquidity

Leverage looks fairly comfortable, with net debt / equity at -0.17x and interest coverage at 67.62x.

At present, short-term debt accounts for 100.0% of total debt, cash equals 266.5% of debt, and total debt stands at 65.7bn.

Watchpoints

Short-term refinancing pressure is meaningful

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

Leverage and liquidity trend

Net Debt / Equity -0.17x −0.09x

Interest Coverage 67.62x −23.74x

Cash / Debt 266.5% +123.1pp

Short-term Debt / Total Debt 100.0% 0.0pp

CFO / NI 0.93x +0.31x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 229.7bn in 2025, against investing cash flow of -14.2bn.

Post-investment cash flow was positive +215.5bn. Financing cash flow was negative +160.3bn.

CFO / net income was 0.93x.

After spending +36.6bn on fixed-asset investment, the business generated trailing free cash flow of +130.6bn.

Cash Conversion

CFO TTM 167.3bn +52.5bn

Cash Capex 36.6bn +6.4bn

FCF TTM +130.6bn +46.0bn

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 earnings conversion is confirmed, with CFO/NI at 0.93x. Warning and risk signals are not yet decisive enough to shift the picture.

Improvement: earnings conversion looks more confirmed, with CFO / net income at 0.93x.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	1,365.5	1,446.5	1,319.9	1,387.4	1,191.3
Revenue Deductions	0.2	0.1	0.0	0.0	0.0
Net Revenue	1,365.3	1,446.4	1,319.9	1,387.3	1,191.2
Cost of Goods Sold	935.2	1,042.3	978.5	1,014.1	0.0
Gross Profit	430.1	404.1	341.4	373.2	315.1
Financial Income	18.2	16.8	22.5	15.8	8.6
Financial Expenses	3.4	2.3	4.3	4.5	-3.1
Interest Expense	3.3	2.2	4.2	4.4	-3.0
Share of Associates and Joint Ventures	0.1	0.2	0.1	0.0	-0.0
Selling Expenses	128.3	103.1	77.6	74.4	-53.6
General and Administrative Expenses	95.2	91.8	87.7	79.5	-70.4
Operating Profit	221.4	223.8	194.4	230.6	196.6
Other Income	3.0	1.2	2.1	3.1	0.0
Other Expenses	2.1	1.2	0.8	2.1	0.0
Other Profit	0.9	0.0	1.3	1.0	2.8
Profit Before Tax	222.3	223.8	195.7	231.6	199.4
Current Income Tax Expense	45.5	45.3	39.7	46.7	-40.7
Deferred Income Tax Expense	-0.1	0.0	1.6	0.2	0.0
Net Income	176.9	178.5	154.3	184.7	158.7
Non-controlling Interest	—	0.0	0.0	0.0	-0.0
Profit Attributable to Parent	176.9	178.5	154.3	184.7	158.7
Earnings per Share	5,128.00	5,174.00	4,362.00	5,293.00	5,317.00
Diluted EPS	5,925.35	5,980.73	5,168.99	6,189.46	5,316.82

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	684.5	674.5	638.2	560.7	491.3
I. Cash and cash equivalents	322.6	267.0	139.3	42.2	45.5
1. Cash	51.6	24.5	13.9	42.2	0.0
2. Cash equivalents	271.0	242.5	125.4	0.0	0.0
II. Short-term financial investments	109.0	113.0	223.6	220.0	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	109.0	113.0	223.6	220.0	0.0
III. Short-term receivables	58.3	52.6	57.0	36.6	36.1
1. Short-term trade accounts receivable	49.4	46.5	47.7	27.0	0.0
2. Short-term prepayments to suppliers	3.0	3.7	4.9	6.7	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	—	0.0	0.0	0.0	0.0
6. Other short-term receivables	7.0	3.5	5.4	4.1	0.0
7. Provision for short-term doubtful debts (*)	-1.1	-1.1	-1.1	-1.1	0.0
8. Assets awaiting resolution	0.0	0.0	0.0	0.0	0.0
IV. Inventories	190.8	238.0	213.6	255.2	188.4
1. Inventories	190.8	238.0	213.6	255.2	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	3.7	3.9	4.7	6.6	6.4
1. Short-term prepayments	3.5	3.4	4.1	6.6	0.0
2. Value added tax to be reclaimed	0.1	0.5	0.1	0.0	0.0
3. Taxes and other receivables from state authorities	0.0	0.0	0.6	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)	360.3	365.3	378.4	417.8	446.6
I. Long-term receivables	—	0.0	0.0	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	—	0.0	0.0	0.0	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	279.4	286.8	313.5	351.3	378.0
1. Tangible fixed assets	276.1	282.7	312.1	350.7	377.3
- Cost	1,622.1	1,580.4	1,559.6	1,548.9	0.0
- Accumulated depreciation	-1,346.0	-1,297.7	-1,247.4	-1,198.2	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	3.3	4.0	1.3	0.6	0.6
- Cost	5.9	5.7	2.4	1.5	0.0
- Accumulated depreciation	-2.6	-1.7	-1.1	-0.9	0.0
III. Investment properties	5.8	6.1	6.5	6.8	7.2
- Cost	9.8	9.8	9.8	9.8	0.0
- Accumulated depreciation	-4.0	-3.7	-3.3	-3.0	0.0
IV. Long-term assets in progress	0.2	11.0	0.2	0.4	3.9
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	0.2	11.0	0.2	0.4	0.0
V. Long-term financial investments	1.0	1.0	1.0	1.0	1.0
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	1.0	1.0	1.0	1.0	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	74.0	60.4	57.2	58.3	0.0
1. Long-term prepayments	72.0	58.4	55.2	54.6	0.0
2. Deferred income tax assets	2.0	2.0	2.0	3.7	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	56.6
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)	1,044.8	1,039.8	1,016.6	978.5	937.9
A. LIABILITIES (300=210+330)	416.9	440.4	418.2	371.8	383.8
I. Short -term liabilities	399.8	421.5	401.0	346.1	357.8
1. Short-term trade accounts payable	45.9	38.6	48.3	27.9	21.9
2. Short-term advances from customers	9.0	3.2	2.5	4.2	5.8
3. Taxes and other payables to state authorities	134.3	136.3	153.3	184.1	0.0
4. Payable to employees	41.2	35.8	31.9	24.9	0.0
5. Short-term acrrued expenses	2.2	2.9	2.8	1.3	0.0
6. Short-term inter-company payables	—	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	0.3	0.3	0.0	0.0	0.0
9. Other short-term payables	27.0	69.1	25.0	24.4	0.0
10. Short-term borrowings and financial leases	134.1	130.4	129.0	70.4	77.0
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	5.8	4.9	8.2	8.9	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	17.1	18.9	17.2	25.7	26.0
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	—	1.1	0.0	0.0	0.0
7. Other long-term liabilities	6.9	7.9	8.0	7.5	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	10.2	9.9	9.2	18.2	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)	627.9	599.4	598.4	606.7	554.1
I. Owner's equity	627.9	599.4	598.4	606.7	0.0
1. Owner's capital	298.5	298.5	298.5	298.5	554.1
- Common stock with voting right	298,466,480,000.00	298,466,480,000.00	298,466,480,000.00	298,466,480,000.00	298,466,480,000.00
- 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	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	122.5	112.8	104.4	94.1	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	206.9	188.1	195.5	214.1	170.5
- Accumulated retained earning at the end of the previous period	154.4	163.2	150.2	108.3	11.8
- Undistributed earnings in this period	52.5	24.9	45.3	105.8	158.7
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)	1,044.8	1,039.8	1,016.6	978.5	937.9

Item	2025	2024	2023	2022	2021
Profit Before Tax	222.3	223.8	195.7	231.6	0.0
Depreciation of Fixed Assets and Investment Property	52.1	51.2	50.8	50.8	20.1
Provision (Increase)/Reversal	0.5	0.9	-0.5	-1.9	0.0
FX Gain/Loss from Revaluation of Monetary Items	-0.4	-0.2	-0.0	-0.0	0.0
Gain/Loss from Investment Activities	-18.2	-16.8	-22.6	-15.7	0.0
Interest Expense	3.3	2.2	4.2	4.4	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	-0.1	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	259.5	261.2	227.6	269.2	0.0
Increase/(Decrease) in Receivables	-3.1	4.2	-20.9	3.5	0.0
Increase/(Decrease) in Inventory	47.1	-24.4	41.6	-66.6	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	6.6	-26.7	-13.5	-10.8	0.0
Increase/(Decrease) in Prepaid Expenses	-13.7	-2.5	1.9	-2.1	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-3.0	-2.4	-4.1	-4.3	0.0
Corporate Income Tax Paid	-36.6	-41.6	-42.4	-34.4	0.0
Other Operating Receipts	1.8	1.6	1.3	1.1	0.0
Other Operating Payments	-28.9	-32.5	-29.3	-27.1	0.0
Net Cash Flow from Operating Activities	229.7	137.0	162.0	128.5	255.4
Payments for Fixed Assets and Other Long-term Assets	-34.9	-35.5	-6.4	-27.8	-40.7
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.4	0.1	0.2	0.2	0.0
Loans and Purchases of Debt Instruments	-237.0	-322.0	-436.6	-530.0	-435.0
Receipts from Loan Repayments and Sale of Debt Instruments	241.0	432.6	433.0	525.0	260.0
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	16.2	18.2	20.5	15.2	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	-14.2	93.5	10.6	-17.4	-184.0
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	1,028.8	1,027.7	872.4	925.3	821.9
Repayment of Borrowings	-1,025.1	-1,026.3	-813.7	-931.9	-774.4
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-164.0	-104.4	-134.3	-107.7	-110.6
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	-160.3	-103.0	-75.6	-114.3	-63.1
Net Cash Flow During the Period	55.2	127.5	97.1	-3.2	39.8
Cash and Cash Equivalents at Beginning of Period	267.0	139.3	42.2	45.5	37.1
FX Difference from Revaluation	0.4	0.2	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	322.6	267.0	139.3	42.2	45.5

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	295.7	338.8	370.3	360.3	296.1	377.4	378.2	363.7	327.2	358.4	340.4	132.4
Revenue Deductions	0.1	0.1	—	0.1	0.0	0.1	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	295.6	338.7	370.3	360.2	296.1	377.3	378.2	363.7	327.2	358.4	340.4	132.4
Cost of Goods Sold	200.9	236.2	239.4	241.0	218.7	275.5	267.0	250.3	249.5	272.1	244.2	94.4
Gross Profit	94.8	102.5	130.9	119.2	77.4	101.8	111.2	113.4	77.7	86.3	96.2	38.0
Financial Income	3.6	5.1	5.2	4.3	3.5	7.8	4.0	4.1	0.8	13.3	0.2	8.2
Financial Expenses	0.9	1.1	0.6	0.7	1.1	0.6	0.4	0.5	0.9	0.7	0.8	0.3
Interest Expense	0.9	1.0	0.6	0.7	1.0	0.5	0.4	0.5	0.9	0.6	0.8	0.3
Share of Associates and Joint Ventures	—	—	0.1	—	0.0	0.0	0.0	0.2	0.0	0.0	0.0	0.0
Selling Expenses	32.9	42.0	31.1	33.0	22.3	30.5	26.6	22.6	23.3	21.6	20.6	6.7
General and Administrative Expenses	26.2	24.0	24.7	24.2	22.3	24.5	23.4	19.0	24.9	22.6	23.8	7.3
Operating Profit	38.3	40.6	79.8	65.6	35.4	54.0	64.8	75.5	29.5	54.6	51.1	32.0
Other Income	0.3	1.2	0.3	0.9	9.6	0.4	0.4	0.3	0.2	0.4	0.5	0.4
Other Expenses	-0.0	0.5	0.1	1.4	9.0	0.5	0.5	0.1	0.1	-0.0	0.3	0.1
Other Profit	0.3	0.7	0.2	-0.5	0.6	-0.1	-0.1	0.2	0.1	0.4	0.2	0.3
Profit Before Tax	38.6	41.3	80.0	65.1	35.9	53.9	64.7	75.7	29.6	55.0	51.3	32.2
Current Income Tax Expense	7.8	9.2	16.0	13.2	7.2	11.1	12.9	15.2	6.0	11.6	10.3	6.4
Deferred Income Tax Expense	—	-0.1	—	—	0.0	0.0	0.0	0.0	0.0	1.6	0.0	0.0
Net Income	30.8	32.2	64.0	51.9	28.7	42.7	51.8	60.4	23.6	41.7	41.0	25.8
Non-controlling Interest	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	30.8	32.2	64.0	51.9	28.7	42.7	51.8	60.4	23.6	41.7	41.0	25.8
Earnings per Share	1,033.00	1,080.00	2,144.00	1,738.76	962.00	1,431.00	1,734.00	2,025.00	791.00	1,399.00	1,375.00	864.00
Diluted EPS	1,033.00	1,079.79	2,144.31	1,738.76	962.49	1,430.36	1,734.00	2,025.00	791.00	1,399.00	1,375.00	864.00

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)	592.2	684.5	712.1	678.0	583.2	674.5	713.3	594.5	565.0	638.2	598.9	586.0
I. Cash and cash equivalents	175.1	322.6	221.0	196.6	148.3	267.0	229.6	60.4	31.4	139.3	99.5	84.7
1. Cash	20.1	51.6	33.0	33.6	23.3	24.5	56.6	16.4	21.4	13.9	22.5	33.7
2. Cash equivalents	155.0	271.0	188.0	163.0	125.0	242.5	173.0	44.0	10.0	125.4	77.0	51.0
II. Short-term financial investments	132.0	109.0	226.0	220.0	162.0	113.0	200.0	259.0	277.0	223.6	264.6	263.0
1. Available for sale securities	—	—	—	—	0.0	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	0.0
3. Held to maturity investments	132.0	109.0	226.0	220.0	162.0	113.0	200.0	259.0	277.0	223.6	264.6	263.0
III. Short-term receivables	32.0	58.3	62.2	46.0	34.6	52.6	60.6	38.0	40.3	57.0	28.6	18.6
1. Short-term trade accounts receivable	22.2	49.4	38.6	31.5	25.2	46.5	50.8	28.9	27.9	47.7	23.3	10.5
2. Short-term prepayments to suppliers	4.4	3.0	6.8	8.0	5.6	3.7	8.2	5.9	7.2	4.9	3.8	5.7
3. Short-term inter-company receivables	—	—	—	—	0.0	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	0.0
5. Short-term loan receivables	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other short-term receivables	6.5	7.0	17.9	7.7	4.8	3.5	2.6	4.3	6.3	5.4	2.5	3.5
7. Provision for short-term doubtful debts (*)	-1.1	-1.1	-1.1	-1.1	-1.1	-1.1	-1.1	-1.1	-1.1	-1.1	-1.1	-1.1
8. Assets awaiting resolution	0.0	0.0	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	200.7	190.8	199.6	211.9	234.4	238.0	218.9	232.8	213.1	213.6	202.7	216.5
1. Inventories	200.7	190.8	199.6	211.9	234.4	238.0	218.9	232.8	213.1	213.6	202.7	216.5
2. Provision for decline in value of inventories	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
V. Other short-term assets	52.5	3.7	3.2	3.4	4.0	3.9	4.2	4.3	3.2	4.7	3.5	3.3
1. Short-term prepayments	3.8	3.5	3.2	3.4	3.3	3.4	4.2	4.3	3.1	4.1	3.4	3.2
2. Value added tax to be reclaimed	—	0.1	—	—	0.6	0.5	0.0	0.0	0.2	0.1	0.0	0.0
3. Taxes and other receivables from state authorities	0.0	0.0	0.0	0.0	0.1	0.0	0.1	0.0	0.0	0.6	0.1	0.1
4. Government bonds	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Other short-term assets	48.7	—	—	—	0.0	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)	346.5	360.3	364.1	366.3	371.2	365.3	364.6	367.1	369.5	378.4	387.2	396.8
I. Long-term receivables	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Long-term trade receivables	—	—	—	—	0.0	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	0.0
3. Capital at inter-company	—	—	—	—	0.0	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	0.0
5. Long-term loan receivables	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Provision for long-term doubtful debts	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	267.9	279.4	265.6	272.5	278.7	286.8	293.6	297.6	303.9	313.5	319.0	330.7
1. Tangible fixed assets	264.9	276.1	262.3	268.9	274.9	282.7	289.3	293.2	302.6	312.1	317.6	329.2
- Cost	1,622.2	—	—	—	1,582.9	1,580.4	1,574.4	1,565.7	1,562.6	1,559.6	1,552.5	1,552.1
- Accumulated depreciation	-1,357.3	—	—	—	-1,308.1	-1,297.7	-1,285.0	-1,272.5	-1,260.0	-1,247.4	-1,234.9	-1,222.9
2. Financial leased fixed assets	—	—	—	—	0.0	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	0.0
- Accumulated depreciation	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	3.1	3.3	3.3	3.6	3.8	4.0	4.2	4.4	1.2	1.3	1.4	1.5
- Cost	5.9	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-2.8	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	5.7	5.8	5.9	5.9	6.0	6.1	6.2	6.3	6.4	6.5	6.6	6.6
- Cost	9.8	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-4.1	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	0.5	0.2	18.1	18.3	15.2	11.0	2.5	3.5	1.3	0.2	2.1	0.3
1. Long-term production in progress	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	0.5	0.2	18.1	18.3	15.2	11.0	2.5	3.5	1.3	0.2	2.1	0.3
V. Long-term financial investments	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0
1. Investments in subsidiaries	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0
3. Investments in other entities	—	—	—	—	0.0	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	0.0
5. Held to maturity investments	—	—	—	—	0.0	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	0.0
VI. Other long-term assets	71.4	74.0	73.6	68.7	70.4	60.4	61.3	58.6	56.9	57.2	58.5	58.2
1. Long-term prepayments	69.3	72.0	71.6	66.7	68.4	58.4	59.3	56.6	54.9	55.2	54.9	54.5
2. Deferred income tax assets	2.0	2.0	2.0	2.0	2.0	2.0	2.0	2.0	2.0	2.0	3.7	3.7
3. Long-term equipment, supplies, spare parts	—	—	—	—	0.0	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	0.0
5. Goodwill	—	—	—	—	0.0	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	0.0
TOTAL ASSETS (280=100+200)	938.7	1,044.8	1,076.2	1,044.3	954.4	1,039.8	1,077.9	961.6	934.5	1,016.6	986.1	982.8
A. LIABILITIES (300=210+330)	280.0	416.9	416.8	389.3	326.3	440.4	473.0	348.8	312.5	418.2	396.4	359.5
I. Short -term liabilities	267.4	399.8	399.1	371.0	308.4	421.5	454.3	329.6	294.9	401.0	372.2	333.6
1. Short-term trade accounts payable	47.5	45.9	40.2	47.2	48.8	38.6	45.8	50.6	45.4	48.3	33.7	26.6
2. Short-term advances from customers	8.0	9.0	3.4	3.8	5.9	3.2	4.0	3.9	2.7	2.5	1.8	6.9
3. Dividends and profits payable	10.6	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	95.5	134.3	163.6	150.7	92.0	136.3	174.5	122.2	113.6	153.3	192.3	161.1
4. Payable to employees	21.3	41.2	35.3	30.1	20.4	35.8	31.5	27.1	18.4	31.9	31.5	26.1
5. Short-term acrrued expenses	11.2	2.2	17.6	18.3	9.3	2.9	17.9	14.0	17.4	2.8	14.2	12.8
6. Short-term inter-company payables	—	—	—	—	0.0	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	0.0
8. Short-term unearned revenue	—	0.3	0.3	0.5	0.8	0.3	0.0	0.0	0.0	0.0	0.0	0.0
9. Other short-term payables	17.7	27.0	32.8	24.1	37.2	69.1	82.3	22.4	23.1	25.0	24.7	22.3
10. Short-term borrowings and financial leases	65.7	134.1	103.3	90.9	103.4	130.4	95.0	79.9	81.5	129.0	67.9	68.0
11. Provision for short-term liabilities	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	-10.1	5.8	2.7	5.3	-9.5	4.9	3.3	9.5	-7.0	8.2	6.2	9.9
13. Price stabilization fund	—	—	—	—	0.0	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	0.0
II. Long-term liabilities	12.6	17.1	17.8	18.3	17.9	18.9	18.7	19.2	17.6	17.2	24.1	25.8
1. Long-term trade payables	—	—	—	—	0.0	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	0.0
3. Long-term acrrued expenses	—	—	—	—	0.0	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	0.0
5. Long-term inter-company payables	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	—	0.3	0.3	0.3	1.1	1.6	1.8	0.0	0.0	0.0	0.0
7. Other long-term liabilities	2.6	6.9	7.4	8.0	7.8	7.9	8.0	8.3	8.4	8.0	7.9	7.6
8. Long-term borrowings and financial leases	—	—	—	—	0.0	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	0.0
10. Preferred stock (Debts)	—	—	—	—	0.00	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	0.0
12. Provision for long-term liabilities	10.1	10.2	10.1	10.1	9.9	9.9	9.1	9.1	9.2	9.2	16.2	18.2
13. Fund for technology development	—	—	—	—	0.0	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	0.0
B. OWNER'S EQUITY (400=410+430)	658.8	627.9	659.4	655.0	628.1	599.4	604.9	612.8	622.0	598.4	589.8	623.3
I. Owner's equity	658.8	627.9	659.4	655.0	628.1	599.4	604.9	612.8	622.0	598.4	589.8	623.3
1. Owner's capital	298.5	298.5	298.5	298.5	298.5	298.5	298.5	298.5	298.5	298.5	298.5	298.5
- Common stock with voting right	298,466,480,000.00	298,466,480,000.00	298,466,480,000.00	298,466,480,000.00	298,466,480,000.00	298,466,480,000.00	298,466,480,000.00	298,466,480,000.00	298,466,480,000.00	298,466,480,000.00	298,466,480,000.00	298,466,480,000.00
- Preferred stock	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Convertible bond option	—	—	—	—	0.0	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	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	0.00
6. Assets revaluation differences	—	—	—	—	0.0	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	0.0
8. Investment and development fund	122.5	122.5	121.5	121.5	112.8	112.8	111.9	111.9	104.4	104.4	103.2	103.2
9. Fund to support corporate restructuring	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	237.8	206.9	239.3	235.0	216.8	188.1	194.6	202.5	219.1	195.5	188.1	221.7
- Accumulated retained earning at the end of the previous period	206.9	154.4	154.4	154.4	188.1	163.2	163.2	163.2	195.5	150.2	150.2	150.2
- Undistributed earnings in this period	30.8	52.5	84.9	80.6	28.7	24.9	31.4	39.3	23.6	45.3	37.9	71.5
12. Reserves for investment in construction	—	—	—	—	0.0	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	0.0
14. Financial reserves	—	—	—	—	0.0	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	0.0
1. Subsidized not-for-profit funds	—	—	—	—	0.0	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	0.0
C. MINORITY'S INTEREST	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	938.7	1,044.8	1,076.2	1,044.3	954.4	1,039.8	1,077.9	961.6	934.5	1,016.6	986.1	982.8

Item	Q1'26	Q4'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Profit Before Tax	—	121.3	101.0	0.0	0.0	-105.2	105.2	0.0	195.7	-89.4	89.4	0.0
Depreciation of Fixed Assets and Investment Property	—	26.5	25.6	0.0	0.0	-25.4	25.4	0.0	50.8	-25.5	25.5	0.0
Provision (Increase)/Reversal	—	0.2	0.2	0.0	0.0	0.0	0.0	0.0	-0.5	0.0	-0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	—	-0.0	-0.4	0.0	0.0	0.1	-0.1	0.0	-0.0	0.0	-0.0	0.0
Gain/Loss from Investment Activities	—	-10.3	-7.9	0.0	0.0	5.1	-5.1	0.0	-22.6	9.2	-9.2	0.0
Interest Expense	—	1.5	1.8	0.0	0.0	-1.3	1.3	0.0	4.2	-2.7	2.7	0.0
Gain/Loss on Disposal of Fixed Assets	—	—	—	0.0	0.0	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	0.0	0.0
Amortization of Goodwill	—	—	—	0.0	0.0	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	0.0	0.0
Operating Profit Before Changes in Working Capital	—	139.2	120.3	0.0	0.0	-126.8	126.8	0.0	227.6	-108.4	108.4	0.0
Increase/(Decrease) in Receivables	—	-13.8	10.7	0.0	0.0	-20.6	20.6	0.0	-20.9	-15.2	15.2	0.0
Increase/(Decrease) in Inventory	—	21.1	26.0	0.0	0.0	19.2	-19.2	0.0	41.6	-38.7	38.7	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	—	-35.6	42.2	0.0	0.0	14.7	-14.7	0.0	-13.5	0.9	-0.9	0.0
Increase/(Decrease) in Prepaid Expenses	—	-5.4	-8.3	0.0	0.0	1.6	-1.6	0.0	1.9	-3.5	3.5	0.0
Changes in Trading Securities	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	—	-1.3	-1.6	0.0	0.0	1.5	-1.5	0.0	-4.1	2.6	-2.6	0.0
Corporate Income Tax Paid	-38.2	-6.5	-1.0	-29.1	-9.0	-1.6	-11.9	-19.2	-9.4	-4.6	-0.7	-27.7
Other Operating Receipts	768.6	—	—	0.0	1,095.7	2,038.8	-626.4	626.7	-1,216.0	1,216.6	-268.7	269.3
Other Operating Payments	-1,049.6	-4.9	1,282.1	-1,306.1	-1,400.7	-2,738.6	879.0	-902.1	1,911.3	-1,916.9	549.3	-573.0
Net Cash Flow from Operating Activities	-62.5	94.3	158.0	-22.5	-38.0	96.4	58.8	-2.4	-18.6	69.6	189.6	-78.6
Payments for Fixed Assets and Other Long-term Assets	-1.8	-15.1	-13.2	-6.5	-10.3	-7.7	-6.7	-5.6	-2.5	-0.5	-2.3	-1.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.0	-0.0	0.4	0.0	-0.1	0.1	0.0	-0.0	0.0	0.2	0.0
Loans and Purchases of Debt Instruments	—	-84.0	-153.0	0.0	0.0	209.0	-209.0	0.0	-436.6	263.0	-263.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	195.0	46.0	0.0	0.0	-173.6	173.6	0.0	433.0	-220.0	220.0	0.0
Investments in Other Entities	—	—	—	0.0	0.0	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	0.0	0.0
Dividends and Interest Income Received	8.4	11.6	-12.5	17.2	22.7	6.7	4.8	1.0	-11.3	21.2	-10.8	21.3
Increase/(Decrease) in Term Deposits	—	—	—	0.0	0.0	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	0.0	0.0
Other Investing Receipts	—	—	—	0.0	0.0	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	0.0	0.0
Net Cash Flow from Investing Activities	-16.4	107.4	-83.7	-37.9	99.4	58.0	16.2	-57.9	27.2	19.1	-83.9	48.3
Proceeds from Equity Issuance and Capital Contributions	—	—	—	0.00	0.00	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	0.00	0.00
Proceeds from Borrowings	186.3	545.1	258.3	225.5	326.7	216.2	223.3	261.5	285.0	208.2	156.3	222.8
Repayment of Borrowings	-254.8	-0.1	-270.8	-252.5	-291.3	-201.1	-224.9	-309.0	-224.0	-208.3	-194.3	-187.2
Repayment of Finance Leases	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	-0.3	-119.2	-14.7	-30.1	-59.4	-0.3	-44.5	-0.0	-29.9	-73.8	-10.5	-20.0
Other Financing Receipts	—	—	—	0.0	0.0	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	0.0	0.0
Net Cash Flow from Financing Activities	-68.7	-76.0	-27.2	-57.1	-24.0	14.8	-46.1	-47.5	31.1	-73.9	-48.5	15.6
Net Cash Flow During the Period	-147.6	125.8	47.0	-117.5	37.3	169.2	28.9	-107.9	39.8	14.9	57.1	-14.7
Cash and Cash Equivalents at Beginning of Period	322.6	267.0	148.3	265.8	139.3	139.3	139.3	139.3	42.2	42.2	42.2	42.2
FX Difference from Revaluation	-0.0	0.4	0.4	0.0	0.1	-0.0	0.1	0.0	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	175.1	322.6	196.8	148.3	267.0	229.6	60.4	31.4	139.3	99.5	84.7	27.6

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SMB

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