TH1

Xuất nhập khẩu tổng hợp 1 Việt Nam ·UPCOM ·2026Q1

▼ Under pressure

Margins remain under pressure Net margin 1.01%, −1.94pp YoY

Price

5,800

Latest close

03 Jun 2026

P/E 4.26x

P/B 3.12x

EPS 1,361

BVPS 1,859

ROE 56.3%

ROA 1.9%

Profit Margin 1.0%

Asset Turnover 1.89x

Equity Mult. 29.47x

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

What Is Changing

On a TTM 2026Q1 basis, TH1 is showing a few mildly negative signals versus the same period, though nothing alarming at current levels — the growth momentum has held across consecutive periods. More notably, profit is significantly supported by non-core sources and operating cash flow is not yet positive — the earnings quality picture needs close monitoring.

	                            
	                                TTM REVENUE
	                            
	                                    VND 1,826bn
	                                
+112.1%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 18bn
	                                
−27.4%YoY

	                            
	                                Net financial result / PBT
	                            
	                                    52.0%
	                                
affects earnings quality

Metric	2025	2024	2023	2022	2021
Revenue	1,625.1	689.8	383.7	253.6	208.5
Growth	+136%	+80%	+51%	+22%	—
Net Income	19.8	25.0	42.2	-123.4	251.8
Net Margin	1.22%	3.62%	11.00%	-48.67%	120.78%

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	504.5	415.9	424.9	481.0	303.3	199.3	143.2	215.3	132.0	138.7	111.2	56.1
Growth	+21%	-2%	-12%	+59%	+52%	+39%	-33%	+63%	-5%	+25%	+98%	—
Net Income	7.6	4.3	12.3	-5.7	6.9	-4.7	8.5	14.7	4.3	24.4	24.9	-0.9
Net Margin	1.51%	1.03%	2.89%	-1.20%	2.26%	-2.37%	5.94%	6.85%	3.28%	17.59%	22.38%	-1.58%

Drivers of TH1's profit

TTM

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

Financial income ↑ 45.0bn

Gross profit ↑ 7.2bn

Other profit ↑ 1.9bn

Finance costs ↑ 33.0bn

Selling expenses ↑ 16.5bn

Administrative expenses ↑ 3.2bn

TTM

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

Financial income ↑ 13.4bn

Gross profit ↑ 1.0bn

Finance costs ↑ 5.9bn

Selling expenses ↑ 3.0bn

Administrative expenses ↑ 2.4bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 94.6% = 2.9% × 1.16 × 27.76

2026Q1 56.3% = 1.0% × 1.89 × 29.47

ROE fell from 94.6% to 56.3% — net margin weakened the most, though asset turnover and leverage still provided support.

Net margin: 1.0% -1.9pp Asset turnover: 1.89x +0.74x Leverage: 29.47x +1.71x

Is the profit sustainable?

Margins are under pressure while earnings still rely significantly on non-core sources.

very positive positive stable watch under pressure

What is driving the margin?

Net margin fell to 1.01%, losing 1.9pp. The main pressure is Gross margin fell 3.7pp, outweighing the improvement in SG&A / Revenue fell 1.4pp (with additional support from Net financial result / Revenue rose 0.8pp and Other profit / Revenue rose 0.4pp).

The pressure comes from core operations — this is a concerning type of decline, not a one-off movement.

Profitability trend

Net Margin 1.01% −1.9pp

Gross Margin 4.07% −3.7pp

SG&A / Revenue 3.32% −1.4pp

Non-core / Revenue 0.40% +1.2pp

TTM YoY · 2025Q1 -> 2026Q1

Watchpoints

Financial result is supporting margin

Financial result accounts for 64.5% of PBT and lifted net margin by 1.2pp — 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 2.26x +0.59x

Average Invested Capital 808.7bn +292.4bn

Balance Sheet

ROIC above should be read with industry context — the balance sheet below adds perspective. Leverage is very high, with clear pressure on the capital structure — liabilities at 17.59x equity, net debt at 34.99x equity.

Over the last 12 months, working capital absorbed 85.8bn of cash, mainly because of higher receivables and higher inventories. Part of that drag was offset by higher payables.

Working Capital Drivers

Receivables increased → lower CFO: −52.4bn

Inventories increased → lower CFO: −33.8bn

Payables increased → higher CFO: +0.3bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 31.4 days versus the same period last year. The main moves came from DIO fell 10.8 days, DSO fell 26.1 days, and DPO fell 5.4 days.

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

Working Capital Efficiency

Receivables 25.2 days −26.1 days

Inventory 20.5 days −10.8 days

Payables 4.5 days −5.4 days

Cash Conversion Cycle 41.1 days −31.4 days

Is financial risk significant?

High leverage combined with negative operating cash flow — this area needs close monitoring.

Leverage & Liquidity

Leverage warrants monitoring, with net debt / equity at 34.99x and interest coverage only at 0.31x.

At present, short-term debt accounts for 80.5% of total debt, cash equals 1.0% of debt, and total debt stands at 889.8bn.

Watchpoints

Net leverage is elevated

Net debt / equity stands at 34.99x, increasing balance-sheet pressure.

Interest coverage is thin

Interest coverage is 0.31x, leaving limited room to absorb financing costs.

Leverage and liquidity trend

Net Debt / Equity 34.99x +18.33x

Interest Coverage 0.31x −0.57x

Cash / Debt 1.0% +0.2pp

Short-term Debt / Total Debt 80.5% +5.7pp

CFO / NI -5.67x −1.32x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

High leverage combined with cash flow below reveals the actual liquidity pressure. Operating cash flow reached -150.0bn in 2025, against investing cash flow of -81.5bn.

Post-investment cash flow was negative +231.5bn. Financing cash flow was positive +240.6bn.

CFO / net income was -5.67x.

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 104.5bn +5.8bn

Cash Capex — —

FCF TTM — —

Investment Takeaway

The business is showing a few weaker signals, but the current magnitude is not yet clear enough to conclude that this is a broader weakening phase. Even so, earnings quality still needs closer monitoring because net financial result remains elevated. The main risk still sits in core profitability, with net margin down 1.9 pp.

Watchpoint: the earnings mix still needs monitoring, with net financial result still accounting for 52.0% of PBT and CFO / net income currently at -5.67x.

Key risk: profitability remains under pressure, with trailing-12M net margin at 1.01% after a 1.9pp decline versus the same period last year.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	1,625.1	689.8	383.7	253.6	208.5
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	1,625.1	689.8	383.7	253.6	208.5
Cost of Goods Sold	1,551.7	629.4	361.4	226.3	0.0
Gross Profit	73.3	60.4	22.3	27.3	20.3
Financial Income	63.0	38.1	21.9	90.6	68.2
Financial Expenses	60.9	30.5	-8.0	55.9	185.2
Interest Expense	34.7	10.8	-16.6	6.2	186.2
Share of Associates and Joint Ventures	1.8	-1.4	-1.9	-6.4	-0.0
Selling Expenses	49.7	35.2	18.9	15.8	-11.7
General and Administrative Expenses	6.9	5.4	9.4	162.5	-9.3
Operating Profit	20.6	26.0	22.0	-122.8	252.7
Other Income	2.7	11.8	38.4	0.1	0.0
Other Expenses	3.6	12.6	12.7	0.5	0.0
Other Profit	-0.9	-0.8	25.7	-0.4	-0.9
Profit Before Tax	19.8	25.3	47.7	-123.2	251.8
Current Income Tax Expense	—	0.3	5.5	0.2	-0.0
Deferred Income Tax Expense	—	0.0	0.0	-0.1	0.0
Net Income	19.8	25.0	42.2	-123.4	251.8
Non-controlling Interest	-0.0	-0.0	0.0	0.0	-0.0
Profit Attributable to Parent	19.8	25.0	42.2	-123.4	251.8
Earnings per Share	1,459.00	1,799.00	3,089.00	-9,126.00	575.00
Diluted EPS	1,459.40	1,843.26	3,116.43	-9,114.35	18,598.10

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	783.2	428.8	254.7	233.6	530.3
I. Cash and cash equivalents	13.3	4.1	5.9	5.6	3.0
1. Cash	13.3	4.1	5.9	5.6	0.0
2. Cash equivalents	—	0.0	0.0	0.0	0.0
II. Short-term financial investments	474.1	290.8	101.5	38.3	0.0
1. Available for sale securities	24.6	24.6	24.6	14.9	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	449.5	266.1	76.9	23.4	0.0
III. Short-term receivables	196.9	95.8	127.5	131.8	256.8
1. Short-term trade accounts receivable	154.4	63.1	138.1	114.8	0.0
2. Short-term prepayments to suppliers	17.7	22.8	244.7	238.1	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	0.5	0.5	0.0
6. Other short-term receivables	28.4	168.4	229.7	260.9	0.0
7. Provision for short-term doubtful debts (*)	-3.5	-158.5	-485.4	-482.4	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	67.8	33.3	14.1	50.1	32.6
1. Inventories	67.8	33.3	14.1	50.1	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	31.1	4.8	5.6	7.7	6.4
1. Short-term prepayments	0.3	0.3	0.2	0.3	0.0
2. Value added tax to be reclaimed	30.4	4.1	5.0	7.3	0.0
3. Taxes and other receivables from state authorities	0.4	0.4	0.4	0.1	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)	206.0	350.5	313.9	240.6	201.2
I. Long-term receivables	0.1	99.8	99.8	19.8	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	9.7
2. Long-term prepayments to suppliers	—	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	19.7	19.7	19.7	0.0
6. Other long-term receivables	0.1	80.1	80.1	0.1	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	5.3	4.0	4.2	5.7	5.9
1. Tangible fixed assets	2.1	0.9	1.1	2.6	2.8
- Cost	4.8	3.3	3.3	10.3	0.0
- Accumulated depreciation	-2.7	-2.4	-2.3	-7.8	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	3.2	3.2	3.2	3.2	3.2
- Cost	3.2	3.2	3.2	3.2	0.0
- Accumulated depreciation	—	0.0	0.0	0.0	0.0
III. Investment properties	103.5	106.6	109.6	112.6	115.6
- Cost	150.1	150.1	150.1	154.9	0.0
- Accumulated depreciation	-46.6	-43.5	-40.5	-42.3	0.0
IV. Long-term assets in progress	—	0.0	0.0	0.0	0.0
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	—	0.0	0.0	0.0	0.0
V. Long-term financial investments	95.1	138.8	94.6	96.5	65.6
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	95.1	93.3	94.6	96.5	0.0
3. Investments in other entities	1.2	1.2	1.2	1.2	0.0
4. Provision for diminution in value of long-term investments	-1.2	-1.2	-1.2	-1.2	0.0
5. Held to maturity investments	—	45.5	0.0	0.0	0.0
6. Other long-term investments	—	0.0	0.0	0.0	0.0
VI. Other long-term assets	2.0	1.3	5.6	6.0	0.0
1. Long-term prepayments	2.0	1.3	5.6	5.9	0.0
2. Deferred income tax assets	—	0.0	0.0	0.1	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	4.3
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)	989.1	779.3	568.6	474.2	731.5
A. LIABILITIES (300=210+330)	936.0	745.9	559.5	506.9	678.9
I. Short -term liabilities	741.1	475.1	275.9	306.5	648.5
1. Short-term trade accounts payable	34.2	17.0	17.4	22.0	69.1
2. Short-term advances from customers	15.5	4.8	5.5	0.2	0.3
3. Taxes and other payables to state authorities	0.1	0.0	5.0	0.4	0.0
4. Payable to employees	3.8	3.1	0.5	2.8	0.0
5. Short-term acrrued expenses	0.1	0.2	0.0	0.0	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	0.3	0.3	0.0	0.1	0.0
9. Other short-term payables	88.7	98.4	152.3	238.1	0.0
10. Short-term borrowings and financial leases	598.0	351.0	94.8	42.6	396.8
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	0.3	0.3	0.3	0.3	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	194.9	270.8	283.6	200.4	30.4
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	8.1	8.3	9.0	9.1	9.3
7. Other long-term liabilities	12.5	92.4	91.1	10.8	0.0
8. Long-term borrowings and financial leases	174.3	170.0	183.5	180.5	10.1
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)	53.2	33.4	9.1	-32.6	52.6
I. Owner's equity	53.2	33.4	9.1	-32.6	0.0
1. Owner's capital	135.4	135.4	135.4	135.4	52.6
- Common stock with voting right	135,392,670,000.00	135,392,670,000.00	135,392,670,000.00	135,392,670,000.00	135,392,670,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	17.1	17.1	17.1	17.1	17.1
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	7.3	7.3	7.3	7.3	7.3
5. Treasury shares	-981,900.00	-981,900.00	-981,900.00	-981,900.00	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	23.9	23.9	23.9	23.9	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	-130.6	-150.4	-174.7	-216.4	-131.2
- Accumulated retained earning at the end of the previous period	-150.3	-175.3	-216.9	-93.0	-383.0
- Undistributed earnings in this period	19.8	25.0	42.2	-123.4	251.8
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	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)	989.1	779.3	568.6	474.2	731.5

Item	2025	2024	2023	2022	2021
Profit Before Tax	19.8	25.3	47.7	-123.2	251.8
Depreciation of Fixed Assets and Investment Property	3.3	3.2	3.6	3.5	3.8
Provision (Increase)/Reversal	-0.1	-0.1	3.0	151.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	11.0	12.7	2.9	3.1	0.0
Gain/Loss from Investment Activities	-46.2	-24.2	-44.4	-12.8	0.0
Interest Expense	34.7	10.8	-16.6	6.2	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	22.5	27.7	-4.0	27.9	30.2
Increase/(Decrease) in Receivables	-41.4	39.5	-72.0	118.6	0.0
Increase/(Decrease) in Inventory	-34.5	-19.2	36.1	-17.5	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-56.6	-54.7	11.9	10.8	0.0
Increase/(Decrease) in Prepaid Expenses	-0.6	4.2	0.3	-1.6	0.0
Changes in Trading Securities	—	0.0	-9.7	51.0	0.0
Interest Paid	-39.4	-8.1	-3.1	-4.4	0.0
Corporate Income Tax Paid	-0.0	-5.3	-0.6	-0.1	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	—	0.0	0.0	0.0	0.0
Net Cash Flow from Operating Activities	-150.0	-15.8	-41.1	184.6	186.1
Payments for Fixed Assets and Other Long-term Assets	-1.6	0.0	0.0	-0.2	-1.3
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.0	27.3	0.0	0.1
Loans and Purchases of Debt Instruments	-467.9	-485.5	-176.3	-92.5	-57.7
Receipts from Loan Repayments and Sale of Debt Instruments	349.7	250.7	122.8	80.7	36.6
Investments in Other Entities	—	0.0	0.0	0.0	-29.3
Proceeds from Investments in Other Entities	—	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	38.2	19.0	15.4	16.9	0.0
Increase/(Decrease) in Term Deposits	—	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	0.0	0.0	0.0	0.0
Other Investing Receipts	—	0.0	0.0	0.0	0.0
Other Investing Payments	—	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	-81.5	-215.7	-10.7	4.9	-25.9
Proceeds from Equity Issuance and Capital Contributions	—	0.00	0.00	0.00	40,000,000.00
Share Repurchases	—	0.00	0.00	0.00	0.00
Proceeds from Borrowings	1,011.0	532.1	247.3	298.3	207.0
Repayment of Borrowings	-770.4	-301.9	-195.1	-485.2	-364.9
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	240.6	230.2	52.2	-186.9	-157.8
Net Cash Flow During the Period	9.1	-1.3	0.4	2.5	-24.7
Cash and Cash Equivalents at Beginning of Period	4.1	5.9	5.6	3.0	0.7
FX Difference from Revaluation	0.0	-0.5	-0.0	-0.0	-0.0
Cash and Cash Equivalents at End of Period	13.3	4.1	5.9	5.6	3.0

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	504.5	415.9	424.9	481.0	303.3	199.3	143.2	215.3	132.0	138.7	111.2	56.1
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	504.5	415.9	424.9	481.0	303.3	199.3	143.2	215.3	132.0	138.7	111.2	56.1
Cost of Goods Sold	489.6	396.5	399.5	466.2	289.4	184.9	131.9	187.7	121.4	128.8	77.0	48.6
Gross Profit	14.9	19.4	25.3	14.7	13.9	14.4	11.3	27.6	10.6	9.9	34.2	7.4
Financial Income	20.5	13.6	16.8	25.5	7.1	9.0	10.5	4.8	13.9	3.9	5.8	10.5
Financial Expenses	15.0	11.1	15.4	25.3	9.1	15.1	4.9	4.8	5.3	-20.4	7.4	3.5
Interest Expense	10.6	8.5	10.5	9.6	6.1	4.3	3.1	1.9	1.6	-21.2	2.0	2.0
Share of Associates and Joint Ventures	—	1.6	1.9	-6.0	2.3	0.7	2.4	0.9	-7.9	1.2	3.6	-8.4
Selling Expenses	9.6	15.1	14.5	13.6	6.5	12.0	9.0	8.7	5.4	5.7	3.9	5.3
General and Administrative Expenses	3.1	1.8	1.8	1.2	0.7	1.4	1.3	1.3	1.4	4.9	0.9	1.5
Operating Profit	7.7	6.5	12.4	-5.9	7.0	-4.4	8.9	18.4	4.4	24.7	31.4	-0.8
Other Income	0.1	0.0	0.0	0.3	0.9	1.7	4.0	6.1	0.0	8.2	0.0	0.0
Other Expenses	0.2	2.3	0.2	0.1	1.0	2.0	4.1	9.8	0.1	8.5	1.0	0.1
Other Profit	-0.1	-2.3	-0.2	0.2	-0.1	-0.3	-0.1	-3.7	-0.1	-0.3	-1.0	-0.0
Profit Before Tax	7.6	4.3	12.3	-5.7	6.9	-4.7	8.8	14.7	4.3	24.4	30.4	-0.9
Current Income Tax Expense	—	—	—	—	—	0.0	0.3	0.0	0.0	0.0	5.5	0.0
Deferred Income Tax Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	7.6	4.3	12.3	-5.7	6.9	-4.7	8.5	14.7	4.3	24.4	24.9	-0.9
Non-controlling Interest	—	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	0.0	-0.0	0.0	0.0
Profit Attributable to Parent	7.6	4.3	12.3	-5.7	6.9	-4.7	8.5	14.7	4.3	24.4	24.9	-0.9
Earnings per Share	564.00	315.73	905.93	-424.66	506.59	-348.59	628.68	1,088.63	319.97	1,802.01	1,837.46	-65.63
Diluted EPS	564.00	315.73	905.93	-424.66	506.59	-348.59	628.68	1,088.63	319.97	1,802.01	1,837.46	-65.63

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)	891.5	783.0	1,000.9	914.3	641.0	474.0	361.0	304.1	317.1	256.7	336.8	254.4
I. Cash and cash equivalents	9.0	13.3	11.3	11.6	5.3	4.3	2.9	2.8	2.2	5.9	9.4	5.1
1. Cash	9.0	13.3	11.3	11.6	5.3	4.3	2.9	2.8	2.2	5.9	9.4	5.1
2. Cash equivalents	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Short-term financial investments	554.2	474.1	631.1	567.1	394.6	336.3	217.9	170.3	132.4	101.5	154.0	87.9
1. Available for sale securities	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6
2. Provision for diminution in value of available for sale securities (*)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	-1.1
3. Held to maturity investments	529.6	449.5	606.5	542.4	370.0	311.6	193.2	145.7	107.8	76.9	129.4	64.4
III. Short-term receivables	182.3	196.8	270.1	178.7	155.2	95.3	92.7	103.5	122.3	129.5	148.0	136.5
1. Short-term trade accounts receivable	132.3	154.4	209.9	150.4	119.9	157.0	154.3	178.6	122.0	138.1	117.9	115.4
2. Short-term prepayments to suppliers	29.4	20.8	34.6	13.3	26.6	249.5	255.7	243.3	245.3	246.7	248.0	240.4
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	—	—	—	—	—	0.5	0.5	0.5	0.5	0.5	0.5	0.5
6. Other short-term receivables	24.1	180.0	183.9	173.4	167.0	173.6	167.6	166.5	239.9	229.7	263.5	262.5
7. Provision for short-term doubtful debts (*)	-3.5	-158.3	-158.3	-158.3	-158.3	-485.3	-485.3	-485.3	-485.4	-485.4	-481.9	-482.3
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	115.0	67.8	70.1	152.4	81.3	33.3	42.3	22.1	54.5	14.1	19.3	15.8
1. Inventories	115.0	67.8	70.1	152.4	81.3	33.3	42.3	22.1	54.5	14.1	19.3	15.8
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	31.0	30.9	18.3	4.6	4.5	4.8	5.2	5.4	5.6	5.6	6.1	9.1
1. Short-term prepayments	0.4	0.3	0.3	0.3	0.1	0.3	0.3	0.1	0.1	0.2	0.4	0.6
2. Value added tax to be reclaimed	30.1	30.4	17.9	3.9	4.0	4.1	4.4	4.8	4.9	5.0	5.2	8.3
3. Taxes and other receivables from state authorities	0.5	0.3	0.1	0.4	0.4	0.4	0.4	0.4	0.5	0.4	0.4	0.1
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)	169.2	203.9	222.3	220.7	227.5	302.4	302.5	301.3	304.9	314.2	313.3	311.9
I. Long-term receivables	0.1	0.1	19.8	19.8	19.8	99.8	99.8	99.8	99.8	99.8	99.8	99.8
1. Long-term trade receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	—	19.7	19.7	19.7	19.7	19.7	19.7	19.7	19.7	19.7	19.7
6. Other long-term receivables	0.1	0.1	0.1	0.1	0.1	80.1	80.1	80.1	80.1	80.1	80.1	80.1
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	5.2	5.3	5.4	5.0	5.1	4.0	4.1	4.1	4.2	4.2	4.3	5.4
1. Tangible fixed assets	2.0	2.1	2.2	1.8	1.9	0.9	0.9	1.0	1.0	1.1	1.2	2.2
- Cost	4.8	—	—	—	—	3.3	3.3	3.3	3.3	3.3	3.6	9.2
- Accumulated depreciation	-2.8	—	—	—	—	-2.4	-2.4	-2.4	-2.3	-2.3	-2.4	-7.0
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	3.2	3.2	3.2	3.2	3.2	3.2	3.2	3.2	3.2	3.2	3.2	3.2
- Cost	3.2	—	—	—	—	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
III. Investment properties	102.8	103.5	104.3	105.0	105.8	106.6	107.3	108.1	108.8	109.6	110.3	111.1
- Cost	150.1	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-47.3	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
V. Long-term financial investments	59.3	93.0	91.4	89.5	95.6	90.7	90.0	87.6	86.8	95.0	93.7	90.0
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	70.7	93.0	91.4	89.5	95.6	90.7	90.0	87.6	86.8	95.0	93.7	90.0
3. Investments in other entities	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2
4. Provision for diminution in value of long-term investments	-12.6	-1.2	-1.2	-1.2	-1.2	-1.2	-1.2	-1.2	-1.2	-1.2	-1.2	-1.2
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	1.8	2.0	1.3	1.3	1.2	1.3	1.3	1.6	5.3	5.6	5.1	5.6
1. Long-term prepayments	1.8	2.0	1.3	1.3	1.2	1.3	1.3	1.6	5.3	5.6	5.1	5.4
2. Deferred income tax assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.1
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)	1,060.7	986.9	1,223.1	1,135.0	868.5	776.4	663.5	605.3	621.9	570.9	650.1	566.3
A. LIABILITIES (300=210+330)	1,035.5	935.8	1,176.3	1,100.4	828.2	745.4	627.7	577.5	608.5	561.6	665.2	606.3
I. Short -term liabilities	841.0	740.7	979.6	905.5	636.3	455.5	342.8	288.8	322.2	277.8	381.3	325.8
1. Short-term trade accounts payable	21.3	34.2	22.3	72.3	22.2	17.0	17.0	17.2	21.2	19.4	16.5	18.1
2. Short-term advances from customers	11.4	15.5	5.9	7.4	6.9	4.3	5.5	8.5	5.6	5.5	5.4	2.8
3. Taxes and other payables to state authorities	0.6	—	1.6	1.2	0.0	0.0	0.6	0.6	5.0	5.2	6.4	1.2
4. Payable to employees	1.3	3.8	1.3	1.1	1.1	3.1	0.6	0.5	0.5	0.5	0.5	0.5
5. Short-term acrrued expenses	0.9	0.1	0.0	0.0	0.3	0.2	0.0	0.0	0.0	0.0	0.0	0.0
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	1.4	—	—	—	—	0.0	0.2	0.0	0.0	0.0	0.0	0.2
9. Other short-term payables	87.7	88.7	105.3	108.1	100.0	98.4	97.4	97.0	165.8	152.3	208.5	235.2
10. Short-term borrowings and financial leases	716.0	598.0	842.8	715.0	505.5	332.1	221.2	164.7	123.9	94.6	143.7	67.5
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	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3
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	194.5	195.1	196.7	194.9	191.8	289.9	284.9	288.7	286.3	283.8	283.9	280.6
1. Long-term trade payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	8.3	8.3	9.4	8.5	8.5	8.6	8.6	8.9	9.1	9.0	8.9	9.0
7. Other long-term liabilities	12.5	12.5	12.5	12.5	12.5	92.4	91.3	91.3	91.1	91.1	91.0	91.0
8. Long-term borrowings and financial leases	173.8	174.3	174.8	174.0	170.8	188.8	185.0	188.5	186.1	183.7	184.0	180.6
9. Convertible bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Fund for technology development	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	25.2	51.1	46.8	34.5	40.3	31.0	35.7	27.8	13.4	9.2	-15.2	-40.0
I. Owner's equity	25.2	51.1	46.8	34.5	40.3	31.0	35.7	27.8	13.4	9.2	-15.2	-40.0
1. Owner's capital	135.4	135.4	135.4	135.4	135.4	135.4	135.4	135.4	135.4	135.4	135.4	135.4
- Common stock with voting right	135,392,670,000.00	135,392,670,000.00	135,392,670,000.00	135,392,670,000.00	135,392,670,000.00	135,392,670,000.00	135,392,670,000.00	135,392,670,000.00	135,392,670,000.00	135,392,670,000.00	135,392,670,000.00	135,392,670,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	17.1	17.1	17.1	17.1	17.1	17.1	17.1	17.1	17.1	17.1	17.1	17.1
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	7.3	7.3	7.3	7.3	7.3	7.3	7.3	7.3	7.3	7.3	7.3	7.3
5. Treasury shares	-981,900.00	-981,900.00	-981,900.00	-981,900.00	-981,900.00	-981,900.00	-981,900.00	-981,900.00	-981,900.00	-981,900.00	-981,900.00	-981,900.00
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	23.9	23.9	23.9	23.9	23.9	23.9	23.9	23.9	23.9	23.9	23.9	23.9
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	-158.6	-132.7	-137.0	-149.2	-143.5	-152.8	-148.0	-156.0	-170.4	-174.5	-198.9	-223.8
- Accumulated retained earning at the end of the previous period	-166.2	-150.3	-150.4	-150.4	-150.4	-175.3	-175.3	-174.7	-174.7	-218.1	-216.9	-216.8
- Undistributed earnings in this period	7.6	17.6	13.4	1.1	6.9	22.5	27.3	18.8	4.3	43.6	18.0	-7.0
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	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)	1,060.7	986.9	1,223.1	1,135.0	868.5	776.4	663.5	605.3	621.9	570.9	650.1	566.3

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	7.6	6.4	12.3	-5.8	6.9	-4.7	8.8	14.4	4.3	24.1	30.4	17.1
Depreciation of Fixed Assets and Investment Property	0.9	0.9	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.9	1.0
Provision (Increase)/Reversal	0.2	0.0	0.0	0.0	-0.1	0.0	0.0	-0.1	0.0	3.5	-1.4	0.1
FX Gain/Loss from Revaluation of Monetary Items	4.1	4.4	-4.1	8.5	2.1	11.8	-4.6	2.1	3.2	-3.3	5.2	1.5
Gain/Loss from Investment Activities	-10.1	-11.2	-14.7	-12.1	-8.1	-4.3	-7.3	-3.6	-4.6	-30.8	-8.7	-19.1
Interest Expense	10.6	8.5	10.5	9.6	6.1	4.3	3.1	1.9	1.6	-21.2	2.0	2.0
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	13.3	9.0	4.8	1.1	7.6	7.9	0.9	15.6	5.3	-27.0	28.4	2.6
Increase/(Decrease) in Receivables	8.8	50.6	-97.2	-14.6	19.8	-0.7	12.6	11.6	13.7	18.2	-1.8	5.1
Increase/(Decrease) in Inventory	-47.3	2.3	82.3	-71.1	-48.0	9.0	-20.3	32.5	-40.5	5.2	-3.5	2.4
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-18.2	15.8	-54.0	56.7	-75.1	1.8	-3.8	-69.6	17.0	-32.8	-32.0	1.9
Increase/(Decrease) in Prepaid Expenses	-0.0	-0.6	-0.0	-0.2	0.3	-0.0	0.1	3.6	0.4	-0.3	0.5	-0.2
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	-6.9
Interest Paid	-10.6	-19.3	-9.3	-6.7	-4.1	-3.2	-2.2	-1.5	-1.2	-0.3	-1.4	-0.8
Corporate Income Tax Paid	—	-0.0	—	—	—	0.0	-0.3	-5.0	0.0	-0.2	-0.3	-0.1
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Operating Activities	-54.0	57.7	-73.4	-34.8	-99.4	14.8	-13.0	-12.8	-5.2	-37.2	-10.1	3.9
Payments for Fixed Assets and Other Long-term Assets	—	0.0	-0.5	0.0	-1.1	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	27.3	0.0	0.1
Loans and Purchases of Debt Instruments	-292.8	-2.7	-63.6	-214.8	-186.7	-158.7	-149.4	-45.5	-131.9	0.0	-108.9	-39.4
Receipts from Loan Repayments and Sale of Debt Instruments	212.7	179.0	0.0	42.4	128.3	40.3	101.9	7.5	101.1	52.5	43.9	11.4
Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	0.2	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	16.6	16.5	4.8	11.6	5.3	1.4	3.4	10.4	3.9	2.8	2.3	9.8
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	-63.3	192.8	-59.3	-160.8	-54.2	-117.1	-44.1	-27.6	-27.0	82.6	-62.7	-18.1
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	459.6	96.9	247.8	338.7	327.6	177.8	165.7	82.3	106.3	39.9	111.4	50.7
Repayment of Borrowings	-346.6	-345.5	-115.3	-136.6	-173.0	-73.9	-108.5	-41.5	-77.9	-88.6	-34.3	-40.1
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	113.0	-248.6	132.5	202.2	154.6	104.0	57.2	40.9	28.4	-48.8	77.1	10.5
Net Cash Flow During the Period	-4.3	1.9	-0.2	6.6	0.9	1.7	0.1	0.6	-3.7	-3.4	4.3	-3.7
Cash and Cash Equivalents at Beginning of Period	13.3	11.3	11.6	5.3	4.1	5.9	5.9	5.9	5.9	5.6	5.6	5.6
FX Difference from Revaluation	0.0	0.0	-0.1	0.0	0.2	-0.3	-0.0	-0.0	0.0	-0.0	0.0	-0.0
Cash and Cash Equivalents at End of Period	9.0	13.3	11.3	11.6	5.3	4.3	2.9	2.8	2.2	5.9	9.4	5.1

Explore Other Stocks In The Same Sector

CLX, VGP, VHF, PIT, TGG, ASA

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

TH1

What Is Changing

Drivers of TH1's profit

Financial Highlights

Is the profit sustainable?

What is driving the margin? ▼

Is capital being used efficiently?

Is capital being deployed efficiently? ●

Balance Sheet ▼▼

Working Capital Efficiency ▲▲

Is financial risk significant?

Leverage & Liquidity ▼▼

Cash Flow ●

Investment Takeaway

Statement Data

What is driving the margin?

Is capital being deployed efficiently?

Balance Sheet

Working Capital Efficiency

Leverage & Liquidity

Cash Flow