TVD

Than Vàng Danh - Vinacomin ·HNX ·2026Q1

▲ Showing improvement

Earnings conversion is confirmed CFO/NPAT 2.23x

Price

10,000

Latest close

02 Jun 2026

P/E 4.70x

P/B 0.66x

EPS 2,127

BVPS 15,052

ROE 13.9%

ROA 3.7%

Profit Margin 1.5%

Asset Turnover 2.52x

Equity Mult. 3.79x

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

What Is Changing

On a TTM 2026Q1 basis, TVD is showing some signs of improvement versus the same period, but the current picture is not yet broad enough to confirm a stronger trend — profit is at an all-time high. The point still to be proven is whether this improvement broadens out in coming periods.

	                            
	                                TTM REVENUE
	                            
	                                    VND 6,556bn
	                                
+1.4%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 96bn
	                                
+22.1%YoY

Metric	2025	2024	2023	2022	2021
Revenue	6,668.9	6,473.5	6,536.4	6,754.2	5,341.8
Growth	+3%	-1%	-3%	+26%	—
Net Income	76.6	95.3	138.2	176.3	103.4
Net Margin	1.15%	1.47%	2.11%	2.61%	1.94%

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	1,525.7	2,052.6	1,303.4	1,674.4	1,649.1	1,723.9	1,230.9	1,864.7	1,678.3	1,331.0	1,654.3	1,630.5
Growth	-26%	+57%	-22%	+2%	-4%	+40%	-34%	+11%	+26%	-20%	+1%	—
Net Income	20.6	42.5	14.2	18.4	18.2	82.5	-57.3	35.0	34.0	60.9	10.4	29.5
Net Margin	1.35%	2.07%	1.09%	1.10%	1.10%	4.78%	-4.66%	1.88%	2.02%	4.58%	0.63%	1.81%

Drivers of TVD's profit

TTM

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

Administrative expenses ↓ 15.0bn

Other profit ↑ 9.1bn

Finance costs ↑ 13.9bn

Gross profit ↓ 8.8bn

TTM

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

Administrative expenses ↓ 11.2bn

Other profit ↑ 2.0bn

Selling expenses ↓ 0.9bn

Finance costs ↑ 5.9bn

Gross profit ↓ 5.5bn

Tax ↑ 0.4bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 10.9% = 1.2% × 2.65 × 3.39

2026Q1 13.9% = 1.5% × 2.52 × 3.79

ROE rose from 10.9% to 13.9% — mainly driven by leverage, despite asset turnover moving in the opposite direction.

Net margin: 1.5% +0.2pp Asset turnover: 2.52x -0.13x Leverage: 3.79x +0.39x

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 1.46%, 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 1.46% +0.2pp

Gross Margin 5.61% −0.2pp

SG&A / Revenue 3.28% −0.3pp

TTM YoY · 2025Q1 -> 2026Q1

Is capital being used efficiently?

Capital efficiency is declining — check whether the drag is from margins or turnover.

Is capital being deployed efficiently?

ROIC narrowed to 5.00%, falling 1.3pp. That translates to 5.00 in after-tax operating profit for every 100 units of operating capital. The main pressure came from capital turnover fell 0.66x — capital is being absorbed faster than revenue is being generated; while invested capital rose by 247bn.

Pressure came from turnover — added capital has not been absorbed quickly enough, a typical investment-cycle dynamic.

CAPITAL EFFICIENCY TREND

ROIC 5.00% −1.3pp

NOPAT Margin 1.24% −0.1pp

Capital Turnover 4.03x −0.66x

Average Invested Capital 1,627.3bn +246.6bn

Balance Sheet

ROIC declined — the balance sheet shows how capital is being deployed. Leverage is elevated, requiring monitoring — liabilities at 2.91x equity, net debt at 1.64x equity.

Over the last 12 months, working capital released 13.5bn of cash, mainly thanks to lower receivables. Pressure from higher inventories and lower payables only partly offset that benefit.

Working Capital Drivers

Receivables decreased → higher CFO: +163.1bn

Inventories increased → lower CFO: −96.7bn

Payables decreased → lower CFO: −52.9bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 1.9 days versus the same period last year. The main moves came from DIO rose 3.9 days, DSO fell 7.5 days, and DPO fell 1.7 days.

Working capital cycle is flat — components are offsetting each other.

Watchpoints

Inventory turnover is slowing

DIO increased by +3.9 days, suggesting more capital is being tied up in inventories.

Working Capital Efficiency

Receivables 52.9 days −7.5 days

Inventory 21.4 days +3.9 days

Payables 31.5 days −1.7 days

Cash Conversion Cycle 42.8 days −1.9 days

Is financial risk significant?

Check leverage, liquidity, and cash-flow conversion.

Leverage & Liquidity

Leverage warrants monitoring, with net debt / equity at 1.64x and interest coverage only at 1.59x.

At present, short-term debt accounts for 39.3% of total debt, cash equals 4.1% of debt, and total debt stands at 1,158.0bn.

Watchpoints

Net leverage is elevated

Net debt / equity stands at 1.64x, increasing balance-sheet pressure.

Interest coverage is thin

Interest coverage is 1.59x, leaving limited room to absorb financing costs.

Leverage and liquidity trend

Net Debt / Equity 1.64x +0.53x

Interest Coverage 1.59x −0.62x

Cash / Debt 4.1% −0.6pp

Short-term Debt / Total Debt 39.3% +5.5pp

CFO / NI 2.23x +0.35x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

Leverage needs watching — cash flow below shows the ability to service debt from operations. Operating cash flow reached 360.1bn in 2025, against investing cash flow of -477.7bn.

Post-investment cash flow was negative +117.6bn. Financing cash flow was positive +113.4bn.

CFO / net income was 2.23x.

After spending +525.1bn on fixed-asset investment, the business generated trailing free cash flow of −311.9bn.

Cash Conversion

CFO TTM 213.3bn +66.3bn

Cash Capex 525.1bn +199.9bn

FCF TTM −311.9bn −133.6bn

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 2.23x. The main risk still sits in leverage and liquidity, with interest coverage at 1.59x.

Improvement: earnings conversion looks more confirmed, with CFO / net income at 2.23x.

Key risk: leverage and liquidity still require discipline, with interest coverage only at 1.59x.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	6,668.9	6,473.5	6,536.4	6,754.2	5,341.8
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	6,668.9	6,473.5	6,536.4	6,754.2	5,341.8
Cost of Goods Sold	6,298.2	6,084.9	6,070.5	6,263.6	0.0
Gross Profit	370.6	388.6	465.9	490.6	454.4
Financial Income	1.8	1.7	1.6	1.4	1.3
Financial Expenses	53.8	43.9	62.3	60.3	-82.4
Interest Expense	53.8	43.9	62.3	60.3	-82.4
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	-0.0
Selling Expenses	15.2	15.3	9.8	9.1	-8.3
General and Administrative Expenses	212.1	211.1	218.0	206.6	-231.6
Operating Profit	91.3	119.9	177.4	216.0	133.3
Other Income	9.2	3.5	1.1	6.1	0.0
Other Expenses	3.0	2.5	3.0	1.2	0.0
Other Profit	6.2	1.0	-1.8	4.9	-3.5
Profit Before Tax	97.4	120.9	175.6	220.8	129.8
Current Income Tax Expense	13.5	17.7	30.2	113.0	-26.4
Deferred Income Tax Expense	7.4	7.9	7.2	-68.5	0.0
Net Income	76.6	95.3	138.2	176.3	103.4
Non-controlling Interest	—	0.0	0.0	0.0	-0.0
Profit Attributable to Parent	76.6	95.3	138.2	176.3	103.4
Earnings per Share	1,703.00	2,120.00	3,073.00	3,921.00	476.00
Diluted EPS	1,702.64	2,120.17	3,073.34	3,921.34	2,299.85

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	1,225.1	1,402.5	1,155.3	1,612.8	770.6
I. Cash and cash equivalents	29.4	33.6	50.2	12.9	13.0
1. Cash	29.4	33.6	50.2	12.9	0.0
2. Cash equivalents	—	0.0	0.0	0.0	0.0
II. Short-term financial investments	—	0.0	0.0	0.0	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	—	0.0	0.0	0.0	0.0
III. Short-term receivables	954.9	1,165.2	869.3	1,240.2	343.8
1. Short-term trade accounts receivable	850.3	1,148.7	838.4	1,220.1	0.0
2. Short-term prepayments to suppliers	95.1	5.6	18.8	13.7	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	14.2	16.3	20.1	12.8	0.0
7. Provision for short-term doubtful debts (*)	-4.7	-5.3	-8.0	-6.4	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	228.1	195.5	226.6	350.9	393.6
1. Inventories	228.1	195.5	226.6	350.9	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	12.7	8.2	9.2	8.7	20.3
1. Short-term prepayments	7.2	8.2	7.0	8.7	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	5.4	0.0	2.2	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)	1,338.0	1,069.7	970.3	1,092.2	1,590.4
I. Long-term receivables	65.3	49.4	45.9	43.0	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	41.7
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	—	0.0	0.0	0.0	0.0
6. Other long-term receivables	65.3	49.4	45.9	43.0	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	924.8	759.1	576.8	811.5	981.7
1. Tangible fixed assets	924.8	759.1	576.6	810.6	979.6
- Cost	6,393.4	6,195.8	5,823.8	5,705.5	0.0
- Accumulated depreciation	-5,468.6	-5,436.7	-5,247.2	-4,895.0	0.0
2. Financial leased fixed assets	—	0.0	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0	0.0
3. Intangible fixed assets	—	0.0	0.1	1.0	2.1
- Cost	5.7	5.7	5.7	5.7	0.0
- Accumulated depreciation	-5.7	-5.7	-5.6	-4.7	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	55.6	63.9	156.1	48.0	42.1
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	55.6	63.9	156.1	48.0	0.0
V. Long-term financial investments	—	0.0	0.0	0.0	0.0
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	—	0.0	0.0	0.0	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	292.3	197.2	191.6	189.7	0.0
1. Long-term prepayments	243.6	141.2	127.6	118.4	0.0
2. Deferred income tax assets	48.7	56.1	64.0	71.2	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	524.9
5. Goodwill	—	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	2,563.1	2,472.2	2,125.6	2,704.9	2,361.0
A. LIABILITIES (300=210+330)	1,906.9	1,794.4	1,418.1	2,040.6	1,807.6
I. Short -term liabilities	1,192.0	1,227.8	915.7	1,381.4	1,074.1
1. Short-term trade accounts payable	504.5	502.8	320.4	630.8	546.6
2. Short-term advances from customers	—	0.0	0.0	0.0	0.0
3. Taxes and other payables to state authorities	93.0	95.1	87.8	222.2	0.0
4. Payable to employees	259.6	248.5	226.9	276.6	0.0
5. Short-term acrrued expenses	17.2	46.6	64.8	21.3	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	7.0	16.7	16.0	11.8	0.0
10. Short-term borrowings and financial leases	284.4	282.1	175.6	201.0	123.5
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	26.3	36.0	24.2	17.6	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	714.9	566.6	502.4	659.2	733.5
1. Long-term trade payables	—	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	0.0	0.0	0.0	0.0
7. Other long-term liabilities	—	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	707.0	559.9	495.7	652.5	726.7
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	7.9	6.7	6.7	6.7	0.0
14. Provision for severance allowances	—	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	656.2	677.8	707.5	664.3	553.4
I. Owner's equity	656.2	677.8	707.5	664.3	0.0
1. Owner's capital	449.6	449.6	449.6	449.6	553.4
- Common stock with voting right	449,628,640,000.00	449,628,640,000.00	449,628,640,000.00	449,628,640,000.00	449,628,640,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	-0.4	-0.4	-0.4	-0.4	-0.4
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	0.4	0.4	0.4	0.4	0.4
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	73.9	63.0	48.5	30.9	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	132.6	165.2	209.4	183.8	103.4
- Accumulated retained earning at the end of the previous period	56.1	64.0	71.2	7.5	0.0
- Undistributed earnings in this period	76.6	101.2	138.2	176.3	103.4
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)	2,563.1	2,472.2	2,125.6	2,704.9	2,361.0

Item	2025	2024	2023	2022	2021
Profit Before Tax	97.4	120.9	175.6	220.8	129.8
Depreciation of Fixed Assets and Investment Property	213.6	217.8	351.0	417.1	513.1
Provision (Increase)/Reversal	-0.6	-2.7	1.6	-1.6	0.0
FX Gain/Loss from Revaluation of Monetary Items	—	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-8.7	-2.0	-0.3	-7.4	0.0
Interest Expense	53.8	43.9	62.3	60.3	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	355.6	377.9	590.3	689.2	731.9
Increase/(Decrease) in Receivables	277.1	-302.7	369.6	-894.1	0.0
Increase/(Decrease) in Inventory	-32.6	31.1	124.3	42.5	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-0.4	278.2	-426.4	88.7	0.0
Increase/(Decrease) in Prepaid Expenses	-101.5	-11.7	-7.5	421.3	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-53.6	-43.9	-62.4	-60.2	0.0
Corporate Income Tax Paid	-14.5	-28.3	-125.2	-24.0	0.0
Other Operating Receipts	2.4	7.2	2.8	1.5	0.0
Other Operating Payments	-72.3	-83.6	-48.8	-40.5	0.0
Net Cash Flow from Operating Activities	360.1	224.1	416.7	224.4	703.4
Payments for Fixed Assets and Other Long-term Assets	-486.4	-373.0	-157.1	-222.2	-253.9
Proceeds from Disposal of Fixed Assets and Long-term Assets	8.5	1.8	0.0	6.0	0.0
Loans and Purchases of Debt Instruments	—	0.0	0.0	0.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	0.0	0.0	0.0	0.0
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	0.2	0.3	0.3	0.2	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	-477.7	-370.9	-156.8	-216.0	-253.8
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	1,465.1	1,414.4	1,353.5	1,609.2	1,759.9
Repayment of Borrowings	-1,315.7	-1,243.7	-1,535.7	-1,605.8	-2,197.3
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-35.9	-40.5	-40.4	-11.7	-9.9
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	113.4	130.2	-222.6	-8.4	-447.3
Net Cash Flow During the Period	-4.2	-16.6	37.2	-0.0	-13.6
Cash and Cash Equivalents at Beginning of Period	33.6	50.2	12.9	13.0	10.6
FX Difference from Revaluation	—	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	29.4	33.6	50.2	12.9	13.0

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	1,525.7	2,052.6	1,303.4	1,674.4	1,649.1	1,723.9	1,230.9	1,864.7	1,678.3	1,331.0	1,654.3	1,630.5
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	1,525.7	2,052.6	1,303.4	1,674.4	1,649.1	1,723.9	1,230.9	1,864.7	1,678.3	1,331.0	1,654.3	1,630.5
Cost of Goods Sold	1,438.8	1,943.6	1,230.1	1,576.0	1,556.7	1,542.3	1,242.3	1,751.0	1,575.1	1,173.9	1,576.0	1,518.5
Gross Profit	86.8	109.0	73.3	98.4	92.4	181.6	-11.4	113.7	103.2	157.1	78.3	112.0
Financial Income	0.6	0.5	0.5	0.5	0.5	0.4	0.4	0.4	0.4	0.4	0.4	0.4
Financial Expenses	18.3	15.9	12.4	13.1	12.4	11.8	10.2	11.4	10.5	13.3	14.1	16.5
Interest Expense	18.3	15.9	12.4	13.1	12.4	11.8	10.2	11.4	10.5	13.3	14.1	16.5
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	3.1	4.2	3.1	3.9	4.0	4.8	2.8	3.9	3.8	3.1	2.1	1.8
General and Administrative Expenses	42.2	56.0	45.4	57.1	53.5	60.5	47.4	54.4	48.9	61.5	49.0	56.2
Operating Profit	23.8	33.3	12.8	24.7	23.0	105.0	-71.4	44.4	40.4	79.5	13.4	37.9
Other Income	2.1	3.4	5.0	0.5	0.1	0.0	0.8	0.6	2.1	0.3	0.7	0.1
Other Expenses	0.2	1.9	-0.2	1.1	0.2	0.8	0.7	1.0	-0.0	1.7	0.1	0.9
Other Profit	1.9	1.5	5.2	-0.7	-0.1	-0.8	0.0	-0.4	2.1	-1.4	0.6	-0.8
Profit Before Tax	25.7	34.8	18.0	24.0	22.9	104.2	-71.3	44.0	42.5	78.1	14.1	37.1
Current Income Tax Expense	5.1	-0.3	3.8	5.6	4.7	13.8	-14.0	9.0	8.6	10.0	3.6	7.6
Deferred Income Tax Expense	—	-7.4	—	—	—	7.9	0.0	0.0	0.0	7.2	0.0	0.0
Net Income	20.6	42.5	14.2	18.4	18.2	82.5	-57.3	35.0	34.0	60.9	10.4	29.5
Non-controlling Interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	20.6	42.5	14.2	18.4	18.2	82.5	-57.3	35.0	34.0	60.9	10.4	29.5
Earnings per Share	458.00	944.00	315.00	410.00	405.00	1,834.00	-1,275.00	778.00	756.00	1,354.00	232.00	655.00
Diluted EPS	458.00	944.40	315.08	409.66	404.57	1,834.46	-1,275.34	777.94	755.57	1,354.36	231.36	655.55

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	1,363.5	1,234.4	1,481.2	1,418.3	1,419.2	1,429.1	1,170.1	1,817.5	1,450.7	1,000.3	1,296.4	1,211.1
I. Cash and cash equivalents	47.6	29.4	24.8	54.9	37.9	33.6	293.4	34.1	47.9	50.2	47.2	34.9
1. Cash	47.6	29.4	24.8	54.9	37.9	33.6	293.4	34.1	47.9	50.2	47.2	34.9
2. Cash equivalents	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Short-term financial investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Short-term receivables	894.1	965.6	725.4	1,011.0	1,057.3	1,191.3	455.0	1,466.7	1,121.5	713.6	950.5	750.8
1. Short-term trade accounts receivable	856.3	861.7	670.9	982.8	1,044.1	1,175.0	427.3	1,434.1	1,095.1	686.1	919.5	739.7
2. Short-term prepayments to suppliers	34.1	95.1	52.3	29.0	11.9	5.6	25.2	32.7	20.5	18.8	24.8	13.1
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	7.2	13.2	7.3	4.3	6.6	16.0	9.6	7.1	13.9	15.8	12.4	4.2
7. Provision for short-term doubtful debts (*)	-3.5	-4.5	-5.1	-5.1	-5.3	-5.3	-7.2	-7.2	-8.0	-7.1	-6.2	-6.2
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	411.8	228.3	724.2	343.8	315.1	196.0	400.6	307.5	271.6	223.7	292.7	410.7
1. Inventories	411.8	228.3	724.2	343.8	315.1	196.0	400.6	307.5	271.6	223.7	292.7	410.7
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	10.0	11.1	6.7	8.6	8.9	8.2	21.2	9.3	9.7	12.9	6.0	14.7
1. Short-term prepayments	4.6	7.2	6.7	8.6	8.9	8.2	8.3	9.3	7.5	7.0	6.0	8.0
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	5.4	3.9	—	—	—	0.0	12.9	0.0	2.2	5.9	0.0	6.7
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)	1,352.8	1,336.4	1,078.4	1,071.9	1,061.3	1,069.7	924.2	914.8	946.6	980.5	948.8	1,018.9
I. Long-term receivables	73.0	65.3	56.0	55.6	55.2	49.4	49.0	48.7	48.3	45.9	45.6	45.3
1. Long-term trade receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	73.0	65.3	56.0	55.6	55.2	49.4	49.0	48.7	48.3	45.9	45.6	45.3
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	989.3	924.7	792.0	679.4	723.0	759.1	640.0	602.6	547.9	593.8	658.6	693.2
1. Tangible fixed assets	989.3	924.7	792.0	679.4	723.0	759.1	640.0	602.5	547.8	593.7	658.3	692.7
- Cost	6,566.5	—	—	—	—	6,195.8	6,028.5	5,976.9	5,841.1	5,823.9	5,778.0	5,772.6
- Accumulated depreciation	-5,577.2	—	—	—	—	-5,436.7	-5,388.6	-5,374.4	-5,293.3	-5,230.2	-5,119.8	-5,079.9
2. Financial leased fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	—	—	—	—	—	0.0	0.0	0.1	0.1	0.1	0.3	0.5
- Cost	5.7	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-5.7	—	—	—	—	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	58.9	55.6	28.4	86.6	67.9	63.9	30.2	32.3	144.3	156.1	18.5	21.5
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	58.9	55.6	28.4	86.6	67.9	63.9	30.2	32.3	144.3	156.1	18.5	21.5
V. Long-term financial investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Investments in other entities	—	—	—	—	—	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
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	231.6	290.9	202.1	250.2	215.3	197.2	205.0	231.2	206.1	184.7	226.1	258.9
1. Long-term prepayments	182.9	242.2	146.0	194.1	159.2	141.2	141.0	167.2	142.1	120.7	154.9	187.7
2. Deferred income tax assets	48.7	48.7	56.1	56.1	56.1	56.1	64.0	64.0	64.0	64.0	71.2	71.2
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)	2,716.3	2,570.8	2,559.6	2,490.2	2,480.5	2,498.7	2,094.4	2,732.3	2,397.4	1,980.9	2,245.2	2,230.0
A. LIABILITIES (300=210+330)	2,039.5	1,912.8	1,929.2	1,874.0	1,784.5	1,821.9	1,500.0	2,086.7	1,655.9	1,279.8	1,605.0	1,600.4
I. Short -term liabilities	1,328.8	1,197.9	1,361.4	1,330.2	1,242.1	1,255.3	958.3	1,564.2	1,148.8	777.4	1,079.4	1,073.1
1. Short-term trade accounts payable	540.4	504.5	506.0	609.7	529.1	502.8	520.6	696.5	579.4	320.4	401.7	407.9
2. Short-term advances from customers	—	—	—	—	—	0.0	4.9	0.0	0.0	0.0	0.0	0.0
3. Dividends and profits payable	0.9	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	102.4	93.5	86.1	94.4	108.6	92.3	32.4	102.4	107.2	77.5	76.0	84.7
4. Payable to employees	91.5	259.6	161.0	140.0	103.5	248.5	98.1	152.6	150.4	155.4	96.4	86.9
5. Short-term acrrued expenses	66.9	17.2	111.3	105.6	114.9	51.3	85.5	101.7	62.2	13.1	90.0	111.0
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	6.6	7.0	7.6	18.1	7.8	16.7	10.0	13.5	7.2	11.2	13.6	24.1
10. Short-term borrowings and financial leases	455.2	284.4	282.3	238.0	273.5	282.1	0.0	178.5	99.9	175.6	163.2	168.4
11. Provision for short-term liabilities	58.1	5.4	162.6	66.6	95.8	25.6	159.1	248.5	134.7	0.0	191.8	134.6
12.. Bonus and welfare fund	6.7	26.3	44.4	57.8	9.1	36.0	47.6	70.4	7.7	24.2	46.7	55.5
13. Price stabilization fund	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Government bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Long-term liabilities	710.7	714.9	567.9	543.8	542.4	566.6	541.8	522.5	507.2	502.4	525.6	527.3
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	702.8	707.0	561.2	537.1	535.7	559.9	535.0	515.8	500.4	495.7	518.9	520.6
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	7.9	7.9	6.7	6.7	6.7	6.7	6.7	6.7	6.7	6.7	6.7	6.7
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)	676.8	658.0	630.4	616.2	696.0	676.8	594.3	645.6	741.5	701.1	640.2	629.6
I. Owner's equity	676.8	658.0	630.4	616.2	696.0	676.8	594.3	645.6	741.5	701.1	640.2	629.6
1. Owner's capital	449.6	449.6	449.6	449.6	449.6	449.6	449.6	449.6	449.6	449.6	449.6	449.6
- Common stock with voting right	449,628,640,000.00	449,628,640,000.00	449,628,640,000.00	449,628,640,000.00	449,628,640,000.00	449,628,640,000.00	449,628,640,000.00	449,628,640,000.00	449,628,640,000.00	449,628,640,000.00	449,628,640,000.00	449,628,640,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	-0.4	-0.4	-0.4	-0.4	-0.4	-0.4	-0.4	-0.4	-0.4	-0.4	-0.4	-0.4
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4
5. Treasury shares	—	—	—	—	—	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
7. Foreign exchange differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	73.9	73.9	73.9	73.9	63.0	63.0	63.0	63.0	48.5	48.5	48.5	48.5
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	153.2	134.5	106.9	92.7	183.4	164.2	81.7	133.0	243.4	203.0	142.1	131.5
- Accumulated retained earning at the end of the previous period	132.6	56.1	56.1	56.1	165.2	64.0	64.0	64.0	209.4	0.0	71.2	71.2
- Undistributed earnings in this period	20.6	78.4	50.8	36.6	18.2	100.2	17.7	69.0	34.0	203.0	70.9	60.3
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)	2,716.3	2,570.8	2,559.6	2,490.2	2,480.5	2,498.7	2,094.4	2,732.3	2,397.4	1,980.9	2,245.2	2,230.0

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
Profit Before Tax	25.7	32.5	18.0	24.0	22.9	104.2	-71.3	44.3	42.5	85.7	14.1	37.3
Depreciation of Fixed Assets and Investment Property	108.6	57.6	17.0	59.0	80.0	47.1	13.7	80.1	76.9	126.6	40.0	63.7
Provision (Increase)/Reversal	56.9	-162.9	96.0	-29.5	95.8	-135.4	-87.9	111.5	134.7	-189.9	14.0	-3.5
FX Gain/Loss from Revaluation of Monetary Items	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-0.0	-8.6	-0.0	-0.1	-0.1	-0.1	-0.1	0.3	-2.2	-0.1	-0.0	-0.1
Interest Expense	18.3	15.9	12.4	13.1	12.4	11.8	10.2	11.4	10.5	13.3	14.1	16.5
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	209.5	-65.5	143.4	66.7	211.0	27.6	-135.4	247.7	262.4	35.6	82.2	113.9
Increase/(Decrease) in Receivables	-8.7	-209.9	338.7	43.0	105.3	-732.4	999.8	-345.7	-250.5	74.1	-182.8	75.7
Increase/(Decrease) in Inventory	-183.7	496.1	-380.4	-28.7	-119.7	204.7	-93.2	-35.8	-45.0	66.1	118.5	59.2
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-117.9	4.4	-57.8	118.4	-65.4	120.6	-319.1	235.6	240.9	-116.8	29.9	-105.0
Increase/(Decrease) in Prepaid Expenses	63.4	-98.2	50.0	-34.6	-18.7	-0.1	30.6	-27.2	-15.0	26.3	35.8	-78.1
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-19.0	-15.2	-12.8	-12.7	-12.9	-11.3	-10.7	-11.0	-11.0	-12.8	-14.6	-16.0
Corporate Income Tax Paid	-0.1	-3.8	-5.6	-4.0	-1.2	0.0	-10.4	-7.5	-10.4	-4.0	-8.8	-7.0
Other Operating Receipts	0.3	—	—	—	—	5.3	0.0	0.1	0.2	1.3	0.3	1.3
Other Operating Payments	-18.4	-20.2	-12.0	-13.6	-26.5	-36.3	0.0	-21.2	-22.3	-27.2	-4.5	-9.2
Net Cash Flow from Operating Activities	-74.6	89.0	63.9	135.0	72.2	-421.8	461.5	35.1	149.3	42.5	55.9	34.7
Payments for Fixed Assets and Other Long-term Assets	-73.9	-240.9	-162.2	-48.2	-35.2	-145.0	-42.8	-102.3	-82.8	-28.6	-36.7	-37.1
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	8.5	—	—	—	0.0	0.0	0.0	1.8	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.1	0.1	0.1	0.1	-0.3	0.4	0.1	0.0	0.1
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	-73.9	-232.3	-162.2	-48.1	-35.1	-144.9	-42.7	-102.6	-80.7	-28.6	-36.6	-37.1
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	500.2	342.6	444.1	233.6	444.8	522.3	182.0	329.7	380.4	294.6	410.7	246.3
Repayment of Borrowings	-333.6	-194.7	-375.8	-267.7	-477.6	-215.4	-341.2	-235.8	-451.3	-305.4	-417.6	-191.5
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	-0.0	-0.0	-0.2	-35.7	-0.0	-0.0	-0.2	-40.2	-0.0	-0.1	-0.1	-40.2
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	166.6	147.9	68.2	-69.8	-32.8	306.9	-159.5	53.7	-71.0	-10.9	-7.0	14.6
Net Cash Flow During the Period	18.2	4.6	-30.1	17.1	4.3	-259.8	259.3	-13.8	-2.3	3.0	12.3	12.2
Cash and Cash Equivalents at Beginning of Period	29.4	24.8	54.9	37.9	33.6	50.2	50.2	50.2	50.2	12.9	12.9	12.9
FX Difference from Revaluation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	47.6	29.4	24.8	54.9	37.9	33.6	293.4	34.1	47.9	50.2	47.2	34.9

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TVD

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