TV4

Tư vấn Xây dựng Điện 4 ·HNX ·2026Q1

▲ Slightly positive

The balance sheet remains flexible Debt/equity −0.17x

Price

13,000

Latest close

03 Jun 2026

P/E 6.80x

P/B 0.91x

EPS 1,913

BVPS 14,348

ROE 13.7%

ROA 10.1%

Profit Margin 12.9%

Asset Turnover 0.78x

Equity Mult. 1.36x

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

What Is Changing

On a TTM 2026Q1 basis, TV4 is maintaining revenue growth, but margins have not improved proportionally — profit is at an all-time high. However, a significant portion of profit is supported by non-core sources, making the picture not entirely clear.

	                            
	                                TTM REVENUE
	                            
	                                    VND 294bn
	                                
+22.0%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 38bn
	                                
+14.6%YoY

	                            
	                                Net financial result / PBT
	                            
	                                    58.2%
	                                
affects earnings quality

Metric	2025	2024	2023	2022	2021
Revenue	279.0	207.1	202.0	299.7	291.9
Growth	+35%	+2%	-33%	+3%	—
Net Income	42.7	30.7	32.8	41.5	35.3
Net Margin	15.31%	14.82%	16.22%	13.85%	12.08%

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	60.7	111.6	69.3	52.2	45.9	114.0	34.1	46.8	12.1	134.2	24.0	23.2
Growth	-46%	+61%	+33%	+14%	-60%	+235%	-27%	+286%	-91%	+459%	+4%	—
Net Income	3.6	26.5	4.5	3.2	2.7	24.9	1.7	3.7	0.4	27.9	1.7	1.9
Net Margin	5.89%	23.78%	6.53%	6.13%	5.89%	21.86%	5.11%	7.80%	3.04%	20.80%	6.90%	8.14%

Drivers of TV4's profit

TTM

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

Gross profit ↑ 10.3bn

Financial income ↑ 1.0bn

Administrative expenses ↑ 6.2bn

Tax ↑ 0.7bn

TTM

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

Gross profit ↑ 2.7bn

Administrative expenses ↑ 1.7bn

Financial income ↓ 0.1bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 12.5% = 13.7% × 0.70 × 1.30

2026Q1 13.7% = 12.9% × 0.78 × 1.36

ROE rose from 12.5% to 13.7% — mainly driven by asset turnover, despite net margin moving in the opposite direction.

Net margin: 12.9% -0.8pp Asset turnover: 0.78x +0.08x Leverage: 1.36x +0.06x

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 narrowed to 12.87%, falling 0.8pp. The main pressure is Gross margin fell 0.9pp, outweighing the improvement in SG&A / Revenue fell 1.2pp (in addition, Other profit / Revenue rose 0.1pp added support while Net financial result / Revenue fell 1.3pp remained a drag).

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

Profitability trend

Net Margin 12.87% −0.8pp

Gross Margin 23.46% −0.9pp

SG&A / Revenue 17.21% −1.2pp

Non-core / Revenue 8.03% −1.2pp

TTM YoY · 2025Q1 -> 2026Q1

Watchpoints

Financial result share remains high

Even though contribution decreased by 1.2pp, financial result still accounts for 59.7% of PBT — earnings durability should be monitored in coming periods.

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 13.07% −1.0pp

Capital Turnover — —

Average Invested Capital — —

Balance Sheet

ROIC above should be read with industry context — the balance sheet below adds perspective. Balance sheet is exceptionally sound — liabilities at 0.53x equity, with a net cash position equivalent to 0.17x equity.

Over the last 12 months, working capital released 57.2bn of cash, mainly thanks to lower receivables and higher payables. Pressure from higher inventories only partly offset that benefit.

Working Capital Drivers

Receivables decreased → higher CFO: +27.8bn

Inventories increased → lower CFO: −2.8bn

Payables increased → higher CFO: +32.2bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 45.6 days versus the same period last year. The main moves came from DIO fell 10.4 days, DSO fell 33.8 days, and DPO rose 1.3 days.

All 3 drivers (collection, inventory, payables) are improving — working capital turnover is strengthening across the board.

Watchpoints

Cash conversion cycle remains stretched

CCC stands at 153.9 days, suggesting that working capital remains tied up for a relatively long operating cycle.

Working Capital Efficiency

Receivables 168.1 days −33.8 days

Inventory 12.0 days −10.4 days

Payables 26.2 days +1.3 days

Cash Conversion Cycle 153.9 days −45.6 days

Is financial risk significant?

Financial risk is low — the company has net cash and CFO reached 60.8bn.

Leverage & Liquidity

Track net leverage, interest coverage, and the liquidity buffer on the balance sheet.

Debt maturity and the cash buffer remain the two key areas to monitor.

Some leverage signals are missing, so the current read should be treated as contextual.

Leverage and liquidity trend

Net Debt / Equity -0.17x —

Interest Coverage — —

Cash / Debt — —

Short-term Debt / Total Debt — —

CFO / NI 1.73x +1.91x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 60.8bn in 2025, against investing cash flow of -46.0bn.

Post-investment cash flow was positive +14.8bn. Financing cash flow was negative +19.8bn.

CFO / net income was 1.73x.

After spending +6.0bn on fixed-asset investment, the business generated trailing free cash flow of +59.3bn.

Cash Conversion

CFO TTM 65.3bn +71.3bn

Cash Capex 6.0bn −6.9bn

FCF TTM +59.3bn +78.2bn

Investment Takeaway

The business is showing a brighter picture at the headline-earnings level, but what deserves a closer look right now is the quality of that improvement. Margins and net profit may look better, but if financial income, other income, or unusually low taxes contribute too much, this is not yet a clean enough growth base to extrapolate further. The main bright spot is balance-sheet flexibility, with net cash/equity at about -0.17x. Even so, the earnings mix still warrants monitoring in upcoming periods, when non-core contribution is 58.2%. The residual risk still sits in working capital is tied up too long in the operating cycle, with CCC extended to 154 days.

Improvement: the balance sheet remains flexible, with a net cash position equivalent to 0.17x of equity.

Watchpoint: cash flow is currently keeping pace with accounting earnings, with CFO / net income at 1.73x. Even so, net financial result still accounts for 58.2% of PBT, so the earnings mix still needs monitoring.

Key risk: working capital remains tied up for too long, with cash cycle at 153.9 days.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	279.0	207.1	202.0	299.7	291.9
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	279.0	207.1	202.0	299.7	291.9
Cost of Goods Sold	217.2	154.9	141.0	210.3	0.0
Gross Profit	61.8	52.2	61.0	89.5	86.6
Financial Income	34.9	23.3	24.1	20.1	12.6
Financial Expenses	0.2	0.3	0.2	0.2	-0.1
Interest Expense	—	0.0	0.0	0.0	-0.0
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	-0.0
Selling Expenses	—	0.0	0.0	0.0	-0.0
General and Administrative Expenses	50.1	40.8	48.4	60.8	-57.7
Operating Profit	46.4	34.3	36.5	48.5	41.5
Other Income	0.2	0.1	0.0	0.5	0.0
Other Expenses	0.9	0.9	0.3	1.3	0.0
Other Profit	-0.7	-0.7	-0.3	-0.8	-0.0
Profit Before Tax	45.7	33.5	36.2	47.7	41.4
Current Income Tax Expense	3.0	2.8	3.5	6.2	-6.2
Deferred Income Tax Expense	—	0.0	0.0	0.0	0.0
Net Income	42.7	30.7	32.8	41.5	35.3
Non-controlling Interest	—	0.0	0.0	0.0	-0.0
Profit Attributable to Parent	42.7	30.7	32.8	41.5	35.3
Earnings per Share	2,160.00	1,551.00	1,656.00	2,099.00	2,165.00
Diluted EPS	2,160.00	1,551.00	1,656.00	2,099.00	1,989.67

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	272.7	220.9	228.6	263.8	212.4
I. Cash and cash equivalents	47.4	52.4	42.4	51.0	69.8
1. Cash	24.4	17.4	12.4	6.0	0.0
2. Cash equivalents	23.0	35.0	30.0	45.0	0.0
II. Short-term financial investments	72.0	9.0	9.0	19.0	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	72.0	9.0	9.0	19.0	0.0
III. Short-term receivables	139.6	150.5	167.6	184.7	119.1
1. Short-term trade accounts receivable	144.4	166.7	176.2	182.3	0.0
2. Short-term prepayments to suppliers	3.4	6.0	5.4	5.3	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	16.7	3.6	3.0	6.1	0.0
7. Provision for short-term doubtful debts (*)	-25.0	-25.8	-17.1	-9.0	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	12.8	8.0	8.6	8.2	6.7
1. Inventories	12.8	8.0	8.6	8.2	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	1.0	1.0	0.9	0.8	0.9
1. Short-term prepayments	1.0	1.0	0.9	0.8	0.0
2. Value added tax to be reclaimed	—	0.0	0.0	0.0	0.0
3. Taxes and other receivables from state authorities	—	0.0	0.0	0.0	0.0
4. Government bonds	—	0.0	0.0	0.0	0.0
5. Other short-term assets	—	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	156.5	153.6	145.3	142.2	141.8
I. Long-term receivables	0.2	0.2	0.2	0.2	0.0
1. Long-term trade receivables	0.2	1.7	1.7	1.7	0.2
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	0.1	0.1	0.1	0.0
7. Provision for long-term doubtful debts	—	-1.5	-1.5	-1.5	0.0
II. Fixed assets	44.2	20.5	24.3	28.4	29.2
1. Tangible fixed assets	30.8	6.2	9.2	12.8	13.4
- Cost	76.8	48.5	48.7	48.3	0.0
- Accumulated depreciation	-46.0	-42.3	-39.5	-35.6	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	13.4	14.2	15.2	15.7	15.8
- Cost	23.5	23.5	23.5	23.1	0.0
- Accumulated depreciation	-10.1	-9.3	-8.3	-7.4	0.0
III. Investment properties	—	0.0	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	—	22.0	8.8	0.4	0.0
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	—	22.0	8.8	0.4	0.0
V. Long-term financial investments	110.4	110.5	110.6	110.7	110.9
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	103.8	103.8	103.8	103.8	0.0
3. Investments in other entities	7.1	7.1	7.1	7.1	0.0
4. Provision for diminution in value of long-term investments	-0.5	-0.4	-0.3	-0.2	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	1.7	0.4	1.3	2.3	0.0
1. Long-term prepayments	1.7	0.4	1.3	2.3	0.0
2. Deferred income tax assets	—	0.0	0.0	0.0	0.0
3. Long-term equipment, supplies, spare parts	—	0.0	0.0	0.0	0.0
4. Other long-term assets	—	0.0	0.0	0.0	1.4
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)	429.2	374.5	373.9	406.0	354.1
A. LIABILITIES (300=210+330)	148.0	109.8	114.9	150.6	136.4
I. Short -term liabilities	148.0	109.8	114.9	150.6	136.4
1. Short-term trade accounts payable	28.4	15.7	10.2	29.5	27.1
2. Short-term advances from customers	43.8	21.8	23.1	24.0	31.6
3. Taxes and other payables to state authorities	4.0	7.7	9.2	9.7	0.0
4. Payable to employees	55.3	47.0	58.4	76.4	0.0
5. Short-term acrrued expenses	5.5	5.8	4.9	0.3	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	—	0.0	0.0	0.0	0.0
9. Other short-term payables	2.9	3.2	3.0	7.0	0.0
10. Short-term borrowings and financial leases	—	0.0	0.0	0.0	0.0
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	8.1	8.7	6.1	3.8	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	—	0.0	0.0	0.0	0.0
1. Long-term trade payables	—	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	0.0	0.0	0.0	0.0
7. Other long-term liabilities	—	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	—	0.0	0.0	0.0	0.0
9. Convertible bonds	—	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	0.0	0.0	0.0	0.0
13. Fund for technology development	—	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	281.2	264.7	259.0	255.3	217.7
I. Owner's equity	281.2	264.7	259.0	255.3	0.0
1. Owner's capital	198.5	198.5	198.5	198.5	217.7
- Common stock with voting right	198,460,160,000.00	198,460,160,000.00	198,460,160,000.00	198,460,160,000.00	177,268,690,000.00
- 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	-745,850,060.00	-745,850,060.00	-745,850,060.00	-745,850,060.00	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	37.6	31.5	28.2	15.8	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	45.8	35.5	33.1	41.9	35.3
- Accumulated retained earning at the end of the previous period	3.1	4.9	0.3	0.4	0.0
- Undistributed earnings in this period	42.7	30.7	32.8	41.5	35.3
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	—	0.0	0.0	0.0	0.0
14. Financial reserves	—	0.0	0.0	0.0	0.0
II. Other resources and funds	—	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	429.2	374.5	373.9	406.0	354.1

Item	2025	2024	2023	2022	2021
Profit Before Tax	45.7	33.5	36.2	47.7	41.4
Depreciation of Fixed Assets and Investment Property	4.6	4.4	4.9	4.8	4.4
Provision (Increase)/Reversal	5.9	8.9	8.2	0.7	0.0
FX Gain/Loss from Revaluation of Monetary Items	0.1	-0.3	0.0	0.0	0.0
Gain/Loss from Investment Activities	-34.5	-22.8	-24.0	-20.3	0.0
Interest Expense	—	0.0	0.0	0.0	0.0
Gain/Loss on Disposal of Fixed Assets	—	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	0.0	0.0	0.0	0.0
Other Adjustments	—	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	21.6	23.7	25.3	33.0	39.3
Increase/(Decrease) in Receivables	16.3	7.7	6.8	-66.0	0.0
Increase/(Decrease) in Inventory	-4.7	0.6	-0.4	-1.6	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	39.6	-8.4	-38.0	16.7	0.0
Increase/(Decrease) in Prepaid Expenses	-1.3	0.9	0.9	-0.8	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	—	0.0	0.0	0.0	0.0
Corporate Income Tax Paid	-3.7	-3.5	-3.3	-6.8	0.0
Other Operating Receipts	0.0	0.0	0.1	0.0	0.0
Other Operating Payments	-7.1	-2.6	-3.1	-5.8	0.0
Net Cash Flow from Operating Activities	60.8	18.4	-11.9	-31.3	18.3
Payments for Fixed Assets and Other Long-term Assets	-6.3	-11.8	-7.3	-4.5	0.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.1	0.0	0.2	0.0
Loans and Purchases of Debt Instruments	-63.0	0.0	0.0	-13.0	-16.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	0.0	10.0	10.0	0.0
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	23.3	22.8	24.4	19.9	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	-46.0	11.0	27.1	12.6	-13.1
Proceeds from Equity Issuance and Capital Contributions	—	0.00	0.00	0.00	0.00
Share Repurchases	—	0.00	0.00	0.00	0.00
Proceeds from Borrowings	—	0.0	0.0	0.0	0.0
Repayment of Borrowings	—	0.0	0.0	0.0	0.0
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-19.8	-19.8	-23.7	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	-19.8	-19.8	-23.7	0.0	0.0
Net Cash Flow During the Period	-5.0	9.7	-8.5	-18.8	8.0
Cash and Cash Equivalents at Beginning of Period	52.4	42.4	51.0	69.8	64.6
FX Difference from Revaluation	-0.0	0.3	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	47.4	52.4	42.4	51.0	69.8

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	60.7	111.6	69.3	52.2	45.9	114.0	34.1	46.8	12.1	134.2	24.0	23.2
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	60.7	111.6	69.3	52.2	45.9	114.0	34.1	46.8	12.1	134.2	24.0	23.2
Cost of Goods Sold	47.5	85.1	52.4	39.9	35.3	86.7	25.1	34.9	8.1	99.8	16.3	13.5
Gross Profit	13.3	26.5	16.9	12.3	10.6	27.3	8.9	11.9	4.1	34.5	7.7	9.7
Financial Income	0.4	22.2	0.9	1.0	0.5	21.5	0.4	1.0	0.3	21.3	1.2	1.2
Financial Expenses	0.0	0.1	—	0.1	0.0	0.1	0.2	0.0	0.0	0.1	0.0	0.1
Interest Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
General and Administrative Expenses	9.1	20.4	12.0	9.0	7.4	22.4	6.3	8.3	3.9	26.0	6.9	7.9
Operating Profit	4.5	28.1	5.7	4.3	3.6	26.3	2.8	4.6	0.5	29.7	2.0	2.9
Other Income	0.0	0.0	0.0	0.0	0.1	0.0	0.0	0.0	0.1	0.0	0.0	0.0
Other Expenses	0.1	0.2	0.2	0.3	0.2	0.3	0.4	0.1	0.1	0.0	0.0	0.2
Other Profit	-0.0	-0.1	-0.2	-0.3	-0.1	-0.3	-0.4	-0.1	0.0	-0.0	0.0	-0.2
Profit Before Tax	4.4	28.0	5.5	4.0	3.5	26.0	2.4	4.6	0.6	29.7	2.0	2.7
Current Income Tax Expense	0.9	1.5	1.0	0.8	0.8	1.1	0.6	0.9	0.2	1.8	0.3	0.8
Deferred Income Tax Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	3.6	26.5	4.5	3.2	2.7	24.9	1.7	3.7	0.4	27.9	1.7	1.9
Non-controlling Interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	3.6	26.5	4.5	3.2	2.7	24.9	1.7	3.7	0.4	27.9	1.7	1.9
Earnings per Share	181.00	1,341.00	229.00	162.00	136.00	1,260.00	88.00	185.00	19.00	1,412.00	84.00	95.00
Diluted EPS	180.20	1,336.60	227.97	161.38	136.15	1,255.86	87.71	183.99	18.58	1,406.94	83.42	95.03

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)	241.0	261.6	221.2	210.5	200.7	220.9	194.2	195.2	186.1	231.7	182.4	186.5
I. Cash and cash equivalents	47.7	47.4	47.3	66.8	51.0	52.4	50.7	46.3	47.4	42.4	30.0	28.1
1. Cash	24.7	24.4	14.3	16.8	11.0	17.4	10.7	6.3	7.4	12.4	5.0	2.1
2. Cash equivalents	23.0	23.0	33.0	50.0	40.0	35.0	40.0	40.0	40.0	30.0	25.0	26.0
II. Short-term financial investments	75.0	72.0	57.0	50.0	9.0	9.0	9.0	9.0	9.0	9.0	9.0	19.0
1. Available for sale securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Held to maturity investments	75.0	72.0	57.0	50.0	9.0	9.0	9.0	9.0	9.0	9.0	9.0	19.0
III. Short-term receivables	108.6	129.2	113.1	85.5	134.1	150.5	115.4	122.1	112.8	170.7	113.0	116.2
1. Short-term trade accounts receivable	120.6	144.4	130.5	101.8	148.1	166.7	118.7	127.0	114.8	176.2	104.3	107.2
2. Short-term prepayments to suppliers	3.6	3.4	5.3	4.6	5.4	6.0	4.3	4.2	5.7	5.4	6.2	5.7
3. Short-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Short-term loan receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other short-term receivables	9.4	6.3	4.3	6.0	6.4	3.6	9.4	8.0	9.3	3.0	9.6	10.5
7. Provision for short-term doubtful debts (*)	-25.0	-25.0	-26.9	-26.9	-25.8	-25.8	-17.1	-17.1	-17.1	-13.9	-7.1	-7.1
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	8.8	12.0	3.1	7.5	6.0	8.0	18.4	17.2	16.4	8.6	30.1	22.7
1. Inventories	8.8	12.0	3.1	7.5	6.0	8.0	18.4	17.2	16.4	8.6	30.1	22.7
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	0.9	1.0	0.7	0.7	0.6	1.0	0.7	0.6	0.6	0.9	0.3	0.5
1. Short-term prepayments	0.6	1.0	0.7	0.7	0.6	1.0	0.7	0.6	0.5	0.9	0.3	0.5
2. Value added tax to be reclaimed	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Taxes and other receivables from state authorities	0.3	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Government bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Other short-term assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	155.3	156.5	153.8	153.8	153.9	153.6	148.3	147.4	143.9	145.3	144.4	142.9
I. Long-term receivables	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.3	0.2	0.2	0.2	0.3
1. Long-term trade receivables	0.2	0.2	1.7	1.7	1.7	1.7	1.7	1.7	1.7	1.7	1.7	1.7
2. Long-term prepayments to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	0.0	0.0	0.0	0.1	0.1	0.1	0.0	0.1	0.1	0.1	0.1	0.1
7. Provision for long-term doubtful debts	—	—	-1.5	-1.5	-1.5	-1.5	-1.5	-1.5	-1.5	-1.5	-1.5	-1.5
II. Fixed assets	43.3	44.2	41.6	41.7	41.8	20.5	21.5	22.1	23.2	24.3	25.4	26.2
1. Tangible fixed assets	30.1	30.8	28.1	28.0	27.9	6.2	7.1	7.4	8.3	9.2	10.0	11.0
- Cost	77.0	—	—	—	—	48.5	48.5	48.0	48.0	48.7	48.7	48.6
- Accumulated depreciation	-47.0	—	—	—	—	-42.3	-41.4	-40.5	-39.7	-39.5	-38.6	-37.7
2. Financial leased fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	13.2	13.4	13.5	13.7	14.0	14.2	14.5	14.7	14.9	15.2	15.4	15.2
- Cost	23.5	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-10.3	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	—	—	—	—	—	22.0	15.3	13.6	8.8	8.8	6.4	3.8
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	—	—	—	—	—	22.0	15.3	13.6	8.8	8.8	6.4	3.8
V. Long-term financial investments	110.4	110.4	110.5	110.5	110.5	110.5	110.6	110.6	110.6	110.6	110.7	110.7
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	103.8	103.8	103.8	103.8	103.8	103.8	103.8	103.8	103.8	103.8	103.8	103.8
3. Investments in other entities	7.1	7.1	7.1	7.1	7.1	7.1	7.1	7.1	7.1	7.1	7.1	7.1
4. Provision for diminution in value of long-term investments	-0.5	-0.5	-0.4	-0.4	-0.4	-0.4	-0.3	-0.3	-0.3	-0.3	-0.3	-0.3
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	1.5	1.7	1.5	1.4	1.3	0.4	0.6	0.7	1.0	1.3	1.7	2.0
1. Long-term prepayments	1.5	1.7	1.5	1.4	1.3	0.4	0.6	0.7	1.0	1.3	1.7	2.0
2. Deferred income tax assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term equipment, supplies, spare parts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other long-term assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Goodwill	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	396.4	418.1	375.0	364.3	354.6	374.5	342.5	342.6	329.9	377.0	326.8	329.5
A. LIABILITIES (300=210+330)	111.6	142.7	106.4	100.1	87.2	109.8	82.9	84.7	70.6	118.1	72.0	76.3
I. Short -term liabilities	111.6	142.7	106.4	100.1	87.2	109.8	82.9	84.7	70.6	118.1	72.0	76.3
1. Short-term trade accounts payable	19.4	28.4	17.2	17.8	12.9	15.7	14.2	12.5	11.9	10.2	9.3	15.0
2. Short-term advances from customers	46.8	43.8	38.2	39.3	28.6	21.8	27.6	33.3	33.2	23.1	32.4	30.0
3. Dividends and profits payable	0.1	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	1.7	5.1	2.8	1.5	3.7	7.7	1.3	3.0	0.4	9.2	0.8	1.1
4. Payable to employees	32.0	48.8	31.3	24.2	24.4	47.0	27.4	23.3	17.7	58.4	19.9	19.3
5. Short-term acrrued expenses	5.3	5.5	2.5	1.4	7.5	5.8	0.0	0.0	0.1	8.0	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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Other short-term payables	3.4	2.9	4.2	4.1	3.7	3.2	3.7	3.8	3.6	3.0	3.4	4.4
10. Short-term borrowings and financial leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	2.9	8.1	10.3	11.9	6.4	8.7	8.7	8.9	3.7	6.1	6.4	6.6
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Convertible bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Fund for technology development	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	284.8	275.4	268.7	264.1	267.4	264.7	259.6	257.9	259.3	259.0	254.8	253.1
I. Owner's equity	284.8	275.4	268.7	264.1	267.4	264.7	259.6	257.9	259.3	259.0	254.8	253.1
1. Owner's capital	198.5	198.5	198.5	198.5	198.5	198.5	198.5	198.5	198.5	198.5	198.5	198.5
- Common stock with voting right	198,460,160,000.00	198,460,160,000.00	198,460,160,000.00	198,460,160,000.00	198,460,160,000.00	198,460,160,000.00	198,460,160,000.00	198,460,160,000.00	198,460,160,000.00	198,460,160,000.00	198,460,160,000.00	198,460,160,000.00
- 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	-745,850,060.00	-745,850,060.00	-745,850,060.00	-745,850,060.00	-745,850,060.00	-745,850,060.00	-745,850,060.00	-745,850,060.00	-745,850,060.00	-745,850,060.00	-745,850,060.00	-745,850,060.00
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	37.6	37.6	37.6	37.6	31.5	31.5	31.5	31.5	28.2	28.2	28.2	28.2
9. Fund to support corporate restructuring	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	49.4	40.1	33.3	28.8	38.2	35.5	30.4	28.7	33.4	33.1	28.9	27.2
- Accumulated retained earning at the end of the previous period	45.8	3.1	22.9	22.9	35.5	4.9	24.6	24.6	33.1	0.3	24.0	24.0
- Undistributed earnings in this period	3.6	37.0	10.4	5.9	2.7	30.7	5.8	4.0	0.4	32.8	4.8	3.2
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Financial reserves	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Other resources and funds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	396.4	418.1	375.0	364.3	354.6	374.5	342.5	342.6	329.9	377.0	326.8	329.5

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
Profit Before Tax	4.4	32.6	5.5	4.0	3.5	26.0	2.4	4.6	0.6	29.7	2.0	2.7
Depreciation of Fixed Assets and Investment Property	1.1	1.1	1.1	1.2	1.1	1.1	1.1	1.1	1.1	1.2	1.2	1.3
Provision (Increase)/Reversal	—	4.8	0.0	1.1	—	8.9	0.0	0.0	0.0	10.0	0.0	0.1
FX Gain/Loss from Revaluation of Monetary Items	—	0.0	—	0.1	—	0.0	0.2	-0.2	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-0.4	-32.6	-0.8	-0.8	-0.5	-21.0	-0.4	-0.9	-0.3	-21.4	-1.1	-1.1
Interest Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Gain/Loss on Disposal of Fixed Assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Adjustments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	5.2	6.0	5.8	5.6	4.2	15.0	3.3	4.6	1.4	19.4	2.1	3.0
Increase/(Decrease) in Receivables	34.0	-35.6	-12.0	41.4	22.5	-48.0	10.7	-20.2	65.2	-76.2	15.2	7.1
Increase/(Decrease) in Inventory	4.0	-9.7	4.4	-1.4	2.0	10.4	-1.2	-1.0	-7.6	21.4	-7.3	-10.6
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-33.2	60.8	-8.3	12.8	-25.8	10.8	-6.4	18.3	-50.5	53.3	-14.1	-13.8
Increase/(Decrease) in Prepaid Expenses	0.6	-0.5	-0.1	-0.2	-0.5	-0.2	0.1	0.2	0.7	-0.3	0.5	-0.0
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Corporate Income Tax Paid	-1.5	-1.0	-0.8	-0.7	-1.2	-0.6	-0.9	-0.2	-1.8	-0.3	-0.5	-0.7
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-5.2	-2.8	-0.9	-1.5	-1.8	-0.0	-0.0	-0.0	-2.3	-0.5	-0.0	-0.2
Net Cash Flow from Operating Activities	4.0	17.2	-11.9	55.9	-0.5	-12.6	5.6	1.5	5.2	16.9	-4.1	-15.2
Payments for Fixed Assets and Other Long-term Assets	-1.0	-3.9	-1.2	0.2	-1.3	-6.7	-1.1	-3.8	-0.6	-2.4	-4.8	-0.1
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	—	—	—	—	0.0	0.0	0.0	0.1	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	-9.0	-15.0	-7.0	-41.0	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	6.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	10.0	0.0
Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	0.4	21.6	0.5	0.7	0.5	21.0	0.1	1.0	0.2	21.7	0.9	1.4
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	-3.6	2.7	-7.7	-40.1	-0.9	14.3	-1.0	-2.8	-0.2	19.3	6.1	1.3
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	0.0	0.0	0.0
Repayment of Borrowings	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	—	-19.8	—	—	—	0.0	0.0	0.0	0.0	-23.7	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	—	-19.8	—	—	—	0.0	0.0	0.0	0.0	-23.7	0.0	0.0
Net Cash Flow During the Period	0.3	0.1	-19.5	15.8	-1.4	1.7	4.7	-1.3	4.9	12.4	2.0	-13.9
Cash and Cash Equivalents at Beginning of Period	47.4	47.3	66.8	51.0	52.4	42.4	42.4	42.4	42.4	51.0	51.0	51.0
FX Difference from Revaluation	—	-0.0	—	—	—	0.0	-0.2	0.2	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	47.7	47.4	47.3	66.8	51.0	52.4	50.7	46.3	47.4	42.4	30.0	28.1

Explore Other Stocks In The Same Sector

TV1, TV2, VNC, VGV, EIC, TVH, CNN, CCV, TV3, VQC, NAC, PGT, VBG, VWS, SDC, QNT, PLE, PPE, TVM, INC, USC, PVE, DCH, VCT, TVG, PID, EFI, HEJ, APC, HSA, NHV

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

TV4

What Is Changing

Drivers of TV4'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