VCP

Xây Dựng Và Năng Lượng VCP ·UPCOM ·2026Q1

▲▲ Improving positively

Operating efficiency is improving Net margin 21.94%, +2.58pp YoY

Price

23,900

Latest close

04 Jun 2026

P/E 3.94x

P/B 0.72x

EPS 6,067

BVPS 33,252

ROE 20.8%

ROA 8.9%

Profit Margin 20.3%

Asset Turnover 0.44x

Equity Mult. 2.34x

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

What Is Changing

On a TTM 2026Q1 basis, VCP is improving on both revenue and margins, suggesting current growth is backed by both scale and operating efficiency — profit is at an all-time high. The next test will be whether this pace holds as the comparison base gets tougher.

	                            
	                                TTM REVENUE
	                            
	                                    VND 2,501bn
	                                
+34.3%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 549bn
	                                
+52.2%YoY

Metric	2025	2024	2023	2022	2021
Revenue	2,286.8	1,772.5	766.2	989.5	592.1
Growth	+29%	+131%	-23%	+67%	—
Net Income	481.1	333.6	136.6	448.0	78.3
Net Margin	21.04%	18.82%	17.83%	45.27%	13.22%

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	653.6	682.3	629.0	535.6	439.9	569.5	481.9	370.7	350.4	122.1	92.7	122.1
Growth	-4%	+8%	+17%	+22%	-23%	+18%	+30%	+6%	+187%	+32%	-24%	—
Net Income	147.5	159.4	131.7	110.1	81.9	122.5	119.8	36.4	62.4	0.7	-20.6	0.7
Net Margin	22.57%	23.36%	20.94%	20.56%	18.62%	21.51%	24.86%	9.81%	17.80%	0.56%	-22.19%	0.56%

Drivers of VCP's profit

TTM

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

Gross profit ↑ 206.9bn

Financial income ↑ 58.4bn

Tax ↑ 39.6bn

Finance costs ↑ 35.0bn

TTM

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

Gross profit ↑ 89.4bn

Financial income ↑ 11.4bn

Finance costs ↑ 27.3bn

Tax ↑ 8.1bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 18.8% = 19.4% × 0.40 × 2.41

2026Q1 22.4% = 21.9% × 0.44 × 2.34

ROE rose from 18.8% to 22.4% — mainly driven by asset turnover, despite leverage moving in the opposite direction.

Net margin: 21.9% +2.6pp Asset turnover: 0.44x +0.03x Leverage: 2.34x -0.07x

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 expanded to 21.94%, rising 2.6pp. Core operating signals are improving as SG&A / Revenue fell 1.8pp are enough to offset pressure from Gross margin fell 1.1pp (in addition, Net financial result / Revenue rose 3.2pp added support while Other profit / Revenue fell 0.2pp remained a drag).

Most of the margin increase comes from non-core items — core operations have not kept pace, this is a margin expansion to watch carefully.

Profitability trend

Net Margin 21.94% +2.6pp

Gross Margin 35.52% −1.1pp

SG&A / Revenue 4.83% −1.8pp

TTM YoY · 2025Q1 -> 2026Q1

Is capital being used efficiently?

Capital efficiency for utilities should be read alongside regulated tariffs and long-cycle depreciation — ROIC of 15.1% reflects a large fixed-asset base.

Is capital being deployed efficiently?

ROIC expanded to 15.07%, rising 6.3pp. That translates to 15.07 in after-tax operating profit for every 100 units of operating capital. Both NOPAT margin rose 2.8pp and capital turnover rose 0.23x, while invested capital contracted by 443bn — capital-return quality improved from both sides.

For utilities, ROIC reflects returns on a large fixed-asset base — this is a reference signal and should be read alongside regulated tariffs.

CAPITAL EFFICIENCY TREND

ROIC 15.07% +6.3pp

NOPAT Margin 22.12% +2.8pp

Capital Turnover 0.68x +0.23x

Average Invested Capital 3,670.9bn −443.4bn

Balance Sheet

ROIC for utilities reflects a large fixed-asset base and regulated tariffs — the balance sheet below adds perspective. Leverage is elevated, requiring monitoring — liabilities at 1.57x equity, net debt at 1.11x equity.

Over the last 12 months, working capital absorbed 445.9bn of cash, mainly because of higher receivables and higher inventories.

Working Capital Drivers

Receivables increased → lower CFO: −280.5bn

Inventories increased → lower CFO: −137.7bn

Payables decreased → lower CFO: −27.8bn

Working Capital Efficiency

Cash conversion cycle lengthened by 7.6 days versus the same period last year. The main moves came from DIO rose 24.4 days, DSO fell 6.0 days, and DPO rose 10.9 days.

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

For utilities, working capital cycle reflects regulated pricing mechanics and long-term settlement contracts — DSO/DIO/DPO should be treated as contextual signals rather than pure efficiency indicators.

Watchpoints

Cash conversion cycle is lengthening

CCC is up by +7.6 days, indicating weaker working-capital turnover versus the prior year.

Inventory turnover is slowing

DIO increased by +24.4 days, suggesting more capital is being tied up in inventories.

Working Capital Efficiency

Receivables 38.4 days −6.0 days

Inventory 72.6 days +24.4 days

Payables 33.6 days +10.9 days

Cash Conversion Cycle 77.4 days +7.6 days

Is financial risk significant?

Check leverage, liquidity, and cash-flow conversion.

Leverage & Liquidity

Leverage warrants monitoring, with net debt / equity at 1.11x and interest coverage only at 2.96x.

At present, short-term debt accounts for 100.0% of total debt, cash equals 48.4% of debt, and total debt stands at 482.7bn.

Leverage for utilities reflects long-term capital needs for fixed assets and recovery through regulated pricing — elevated leverage is structural to the industry.

Watchpoints

Net leverage is elevated

Net debt / equity stands at 1.11x, increasing balance-sheet pressure.

Short-term refinancing pressure is meaningful

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

Leverage and liquidity trend

Net Debt / Equity 1.11x +0.06x

Interest Coverage 2.96x +0.74x

Cash / Debt 48.4% +40.4pp

Short-term Debt / Total Debt 100.0% +90.3pp

CFO / NI 0.37x −1.13x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 342.7bn in 2025, against investing cash flow of -1,240.7bn.

Post-investment cash flow was negative +898.0bn. Financing cash flow was positive +1,260.2bn.

CFO / net income was 0.37x.

Track how much investment can be funded internally from operating cash flow.

For utilities, high capex and long investment cycles are structural — short-term FCF volatility does not reflect long-term cash generation through regulated pricing.

Cash Conversion

CFO TTM 187.6bn −303.4bn

Cash Capex — —

FCF TTM — —

Investment Takeaway

The business is showing brightening signals, but the improvement is still early and not yet thick enough to read as a confirmed trend. The brighter spot is operating efficiency, with net margin improving 2.6 pp. The next item to monitor is capital efficiency, with ROIC at 15.1%. The main risk still sits in leverage and liquidity, with interest coverage at 2.96x.

Improvement: operating efficiency is getting better, with trailing-12M net margin at 21.94% after expanding 2.6pp versus the same period last year.

Watchpoint: Capital efficiency needs cycle context.

Key risk: leverage and liquidity remain a pressure point, with net debt / equity at 1.11x and a thin cash buffer.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	2,286.8	1,772.5	766.2	989.5	592.1
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	2,286.8	1,772.5	766.2	989.5	592.1
Cost of Goods Sold	1,490.2	1,116.9	354.2	292.8	0.0
Gross Profit	796.6	655.6	412.0	696.7	328.8
Financial Income	54.3	7.3	7.4	3.5	7.8
Financial Expenses	183.1	178.8	183.1	168.8	-199.5
Interest Expense	183.1	177.7	177.4	165.9	-196.5
Share of Associates and Joint Ventures	—	-0.7	-0.8	0.0	0.0
Selling Expenses	12.7	9.4	0.6	0.1	0.0
General and Administrative Expenses	107.8	115.1	81.9	58.6	-51.1
Operating Profit	547.3	359.0	153.0	472.8	86.0
Other Income	0.5	2.8	0.8	2.4	0.0
Other Expenses	6.3	1.6	1.6	0.1	0.0
Other Profit	-5.9	1.3	-0.8	2.3	2.1
Profit Before Tax	541.5	360.3	152.2	475.1	88.1
Current Income Tax Expense	60.4	26.7	15.7	27.1	-9.9
Deferred Income Tax Expense	—	0.0	0.0	0.0	0.0
Net Income	481.1	333.6	136.6	448.0	78.3
Non-controlling Interest	39.6	27.1	14.1	39.2	10.1
Profit Attributable to Parent	441.5	306.5	122.5	408.8	68.2
Earnings per Share	5,269.00	3,658.00	1,461.00	4,879.00	906.33
Diluted EPS	5,268.68	3,658.22	1,461.49	4,878.56	906.33

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	2,364.0	1,200.3	727.5	641.3	518.3
I. Cash and cash equivalents	849.6	487.4	200.5	25.9	50.5
1. Cash	209.3	479.1	199.3	8.9	0.0
2. Cash equivalents	640.3	8.3	1.2	17.0	0.0
II. Short-term financial investments	10.9	10.7	16.0	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	10.9	10.7	16.0	0.0	0.0
III. Short-term receivables	1,135.4	481.1	383.3	570.9	425.1
1. Short-term trade accounts receivable	270.2	327.1	220.3	219.5	0.0
2. Short-term prepayments to suppliers	154.1	8.1	8.9	33.0	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	622.4	73.3	87.1	31.3	0.0
6. Other short-term receivables	155.9	129.2	108.0	322.0	0.0
7. Provision for short-term doubtful debts (*)	-67.2	-56.5	-40.9	-34.9	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	341.7	204.0	98.9	19.0	20.4
1. Inventories	341.7	204.0	98.9	19.0	0.0
2. Provision for decline in value of inventories	-0.0	-0.0	-0.0	-0.0	0.0
V. Other short-term assets	26.4	17.0	28.8	25.5	21.5
1. Short-term prepayments	9.0	9.3	11.8	1.1	0.0
2. Value added tax to be reclaimed	17.4	7.4	16.8	24.3	0.0
3. Taxes and other receivables from state authorities	—	0.3	0.1	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)	3,951.1	3,602.1	3,786.2	2,764.9	2,747.5
I. Long-term receivables	939.2	545.2	501.1	203.0	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	112.6
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	135.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	804.2	545.2	501.1	203.0	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	2,613.2	2,789.6	2,664.9	2,010.0	2,176.5
1. Tangible fixed assets	2,417.0	2,600.4	2,486.0	1,827.6	1,990.6
- Cost	4,695.3	4,634.9	4,270.6	3,349.2	0.0
- Accumulated depreciation	-2,278.4	-2,034.4	-1,784.6	-1,521.6	0.0
2. Financial leased fixed assets	10.8	0.0	0.0	0.0	0.0
- Cost	11.2	0.0	0.0	0.0	0.0
- Accumulated depreciation	-0.4	0.0	0.0	0.0	0.0
3. Intangible fixed assets	185.4	189.2	178.9	182.4	185.9
- Cost	236.0	235.8	221.8	221.8	0.0
- Accumulated depreciation	-50.5	-46.6	-43.0	-39.4	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	209.9	51.5	376.2	316.9	170.6
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	209.9	51.5	376.2	316.9	0.0
V. Long-term financial investments	0.6	1.6	2.3	0.7	0.7
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	—	1.0	1.7	0.0	0.0
3. Investments in other entities	0.7	0.7	0.7	0.7	0.0
4. Provision for diminution in value of long-term investments	-0.2	-0.2	-0.2	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	188.2	214.2	241.8	234.3	0.0
1. Long-term prepayments	31.6	27.6	25.2	21.8	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	287.1
5. Goodwill	156.6	186.6	216.6	212.5	0.0
VII. Goodwill (before 2015)	—	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	6,315.0	4,802.4	4,513.7	3,406.2	3,265.8
A. LIABILITIES (300=210+330)	3,860.3	2,754.3	2,777.7	1,782.0	2,053.3
I. Short -term liabilities	1,029.7	768.1	1,009.0	608.9	638.2
1. Short-term trade accounts payable	172.1	108.3	85.8	46.0	29.4
2. Short-term advances from customers	6.3	2.2	0.5	0.0	0.0
3. Taxes and other payables to state authorities	76.4	30.2	26.4	37.4	0.0
4. Payable to employees	15.1	32.6	6.8	5.4	0.0
5. Short-term acrrued expenses	21.5	22.9	24.6	20.5	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	70.9	70.1	35.8	22.5	0.0
10. Short-term borrowings and financial leases	656.3	492.7	817.8	473.0	489.0
11. Provision for short-term liabilities	—	0.0	0.0	1.3	0.0
12.. Bonus and welfare fund	10.9	9.3	11.2	2.9	0.0
13. Price stabilization fund	—	0.0	0.0	0.0	0.0
14. Government bonds	—	0.0	0.0	0.0	0.0
II. Long-term liabilities	2,830.6	1,986.2	1,768.7	1,173.1	1,415.1
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	—	74.4	74.4	0.1	0.0
8. Long-term borrowings and financial leases	2,830.6	1,911.8	1,694.4	1,173.0	1,415.0
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)	2,454.8	2,048.1	1,736.0	1,624.2	1,212.5
I. Owner's equity	2,454.8	2,048.1	1,736.0	1,624.2	0.0
1. Owner's capital	837.9	837.9	837.9	837.9	1,212.5
- Common stock with voting right	837,896,580,000.00	837,896,580,000.00	837,896,580,000.00	837,896,580,000.00	752,398,790,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	5.9	5.9	5.9	5.9	5.9
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	—	0.0	0.0	0.0	0.0
5. Treasury shares	—	0.00	0.00	0.00	0.00
6. Assets revaluation differences	—	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	629.1	499.9	407.0	29.6	0.0
9. Fund to support corporate restructuring	—	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	—	4.3	4.3	0.0	0.0
11. Undistributed earnings after tax	673.8	415.2	204.9	483.3	165.0
- Accumulated retained earning at the end of the previous period	232.4	108.7	75.3	74.6	100.4
- Undistributed earnings in this period	441.5	306.5	129.5	408.8	64.5
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	308.0	284.8	276.1	267.5	259.6
14. Financial reserves	—	0.0	0.0	0.0	0.0
II. Other resources and funds	—	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	6,315.0	4,802.4	4,513.7	3,406.2	3,265.8

Item	2025	2024	2023	2022	2021
Profit Before Tax	541.5	360.3	152.2	475.1	78.4
Depreciation of Fixed Assets and Investment Property	279.5	284.0	213.3	193.8	161.8
Provision (Increase)/Reversal	10.7	15.6	4.8	-0.7	0.0
FX Gain/Loss from Revaluation of Monetary Items	0.0	0.6	0.5	0.0	0.0
Gain/Loss from Investment Activities	-50.1	-6.6	-6.1	-3.6	0.0
Interest Expense	174.3	178.2	183.0	169.6	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	955.9	832.1	547.7	834.2	436.7
Increase/(Decrease) in Receivables	-197.1	-155.9	540.1	-188.1	0.0
Increase/(Decrease) in Inventory	-137.7	-105.1	-22.1	1.4	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-62.7	115.8	25.8	-35.6	0.0
Increase/(Decrease) in Prepaid Expenses	-3.5	0.0	-7.8	9.2	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-184.6	-183.0	-174.6	-168.7	0.0
Corporate Income Tax Paid	-20.3	-32.4	-23.2	-12.5	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-7.3	-9.0	-5.9	-5.6	0.0
Net Cash Flow from Operating Activities	342.7	462.3	880.0	434.2	544.6
Payments for Fixed Assets and Other Long-term Assets	-84.1	-79.1	-88.2	-167.8	-253.8
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.7	0.0	0.6	0.5	3.4
Loans and Purchases of Debt Instruments	-972.9	-52.9	-377.1	-26.0	-19.4
Receipts from Loan Repayments and Sale of Debt Instruments	288.6	71.9	316.4	2.8	55.2
Investments in Other Entities	-496.2	0.0	-1,041.1	0.0	-208.8
Proceeds from Investments in Other Entities	—	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	23.2	5.8	5.2	3.1	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	-1,240.7	-54.2	-1,184.1	-187.5	-419.3
Proceeds from Equity Issuance and Capital Contributions	—	0.00	0.00	0.00	100,000,000.00
Share Repurchases	—	0.00	0.00	0.00	0.00
Proceeds from Borrowings	2,322.8	680.6	1,567.7	555.7	756.0
Repayment of Borrowings	-994.0	-788.7	-1,069.1	-815.8	-875.1
Repayment of Finance Leases	-0.8	0.0	0.0	0.0	0.0
Dividends Paid	-67.8	-13.2	-19.8	-9.2	-4.4
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	1,260.2	-121.3	478.8	-269.3	-123.4
Net Cash Flow During the Period	362.2	286.9	174.7	-22.6	-97.7
Cash and Cash Equivalents at Beginning of Period	487.4	200.5	25.9	48.5	48.6
FX Difference from Revaluation	-0.0	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	849.6	487.4	200.5	25.9	50.5

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	653.6	682.3	629.0	535.6	439.9	569.5	481.9	370.7	350.4	122.1	92.7	122.1
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	653.6	682.3	629.0	535.6	439.9	569.5	481.9	370.7	350.4	122.1	92.7	122.1
Cost of Goods Sold	410.9	442.4	410.9	348.4	286.5	357.4	294.7	242.2	222.4	62.1	62.3	62.1
Gross Profit	242.8	239.9	218.2	187.2	153.4	212.2	187.1	128.5	128.1	60.0	30.4	60.0
Financial Income	13.0	11.2	21.0	20.4	1.6	0.5	3.4	1.8	1.7	1.3	8.5	1.3
Financial Expenses	68.8	38.3	56.7	46.5	41.5	47.2	38.7	48.0	45.1	44.4	35.5	44.4
Interest Expense	68.8	38.3	56.7	46.5	37.6	53.6	32.2	47.3	37.8	44.6	34.8	44.6
Share of Associates and Joint Ventures	—	—	—	—	—	1.0	0.0	-1.7	0.0	0.0	0.0	0.0
Selling Expenses	2.6	3.6	2.9	3.2	2.8	3.7	2.5	2.6	0.6	0.0	0.0	0.0
General and Administrative Expenses	19.1	42.7	14.4	32.4	18.2	31.3	22.4	39.4	16.6	14.8	17.5	14.8
Operating Profit	165.2	166.6	165.2	125.5	92.4	131.5	126.9	38.5	67.4	2.1	-14.1	2.1
Other Income	0.7	0.3	0.0	0.2	0.0	1.2	0.1	0.7	0.8	0.4	0.3	0.4
Other Expenses	0.2	0.6	4.7	0.6	0.5	0.8	0.1	0.2	0.5	0.5	6.2	0.5
Other Profit	0.5	-0.3	-4.7	-0.4	-0.5	0.4	0.0	0.5	0.3	-0.1	-5.9	-0.1
Profit Before Tax	165.7	166.2	160.6	125.1	91.9	131.9	126.9	39.0	67.8	2.0	-20.0	2.0
Current Income Tax Expense	18.1	6.9	28.9	15.0	10.0	9.4	7.2	2.7	5.4	1.4	0.5	1.4
Deferred Income Tax Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	147.5	159.4	131.7	110.1	81.9	122.5	119.8	36.4	62.4	0.7	-20.6	0.7
Non-controlling Interest	7.4	18.9	6.3	7.8	6.7	7.1	17.8	2.5	-0.3	-0.0	4.3	-0.0
Profit Attributable to Parent	140.2	140.5	125.4	102.3	75.2	115.4	102.0	33.9	62.7	0.7	-24.8	0.7
Earnings per Share	1,673.07	1,676.56	1,496.34	1,221.47	897.96	1,376.98	1,217.57	404.65	748.33	8.36	-296.39	8.36
Diluted EPS	1,673.07	1,676.56	1,496.34	1,221.47	897.96	1,376.98	1,217.57	404.65	748.33	8.36	-296.39	8.36

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)	1,779.7	2,886.1	1,596.8	1,070.3	1,015.4	1,205.1	884.9	783.6	731.8	510.4	847.1	510.4
I. Cash and cash equivalents	233.6	849.6	189.0	217.8	190.4	487.5	194.0	63.2	207.5	38.5	123.8	38.5
1. Cash	228.6	209.3	174.0	204.6	187.4	479.1	192.8	55.5	204.8	20.2	122.6	20.2
2. Cash equivalents	5.0	640.3	15.0	13.2	3.0	8.3	1.2	7.7	2.7	18.3	1.2	18.3
II. Short-term financial investments	173.5	10.9	18.0	10.7	17.9	10.7	10.0	10.0	10.0	0.0	6.0	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	173.5	10.9	18.0	10.7	17.9	10.7	10.0	10.0	10.0	0.0	6.0	0.0
III. Short-term receivables	916.7	1,658.5	1,108.1	571.6	566.0	486.0	481.1	547.6	396.3	441.5	689.1	441.5
1. Short-term trade accounts receivable	291.3	270.2	271.3	272.9	234.5	327.1	302.0	252.6	217.8	148.9	128.0	148.9
2. Short-term prepayments to suppliers	189.3	154.1	35.5	10.4	11.2	8.1	23.6	16.7	23.2	16.3	9.2	16.3
3. Short-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.9	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	—	622.4	515.2	250.3	177.0	73.3	77.8	84.8	91.6	32.8	289.1	32.8
6. Other short-term receivables	503.4	679.1	351.8	102.2	199.8	129.0	124.4	238.3	103.7	278.5	297.8	278.5
7. Provision for short-term doubtful debts (*)	-67.2	-67.2	-65.7	-64.2	-56.5	-51.5	-46.8	-44.8	-40.9	-35.0	-35.0	-35.0
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	417.4	340.5	273.1	260.3	224.2	204.0	176.0	134.5	87.6	17.3	17.5	17.3
1. Inventories	417.4	340.6	273.2	260.3	224.2	204.0	176.1	134.5	87.6	17.3	17.5	17.3
2. Provision for decline in value of inventories	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0
V. Short-term Biological Assets	38.6	—	—	—	—	—	—	—	—	—	—	—
1. Short-term consumable livestock	8.4	—	—	—	—	—	—	—	—	—	—	—
2. Short-term seasonal or single-harvest crops	29.5	—	—	—	—	—	—	—	—	—	—	—
3. Provision for impairment of short-term biological assets	0.7	—	—	—	—	—	—	—	—	—	—	—
V. Other short-term assets	—	26.4	8.6	9.7	17.0	17.0	23.8	28.3	30.4	13.1	10.6	13.1
1. Short-term prepayments	—	9.0	7.1	7.9	10.6	9.3	10.4	12.9	11.6	6.7	5.4	6.7
2. Value added tax to be reclaimed	—	17.4	1.5	1.8	6.2	7.4	13.0	15.4	18.7	3.7	2.7	3.7
3. Taxes and other receivables from state authorities	—	—	0.0	0.1	0.2	0.3	0.4	0.0	0.1	2.7	2.4	2.7
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)	4,835.4	3,427.9	3,478.5	3,871.7	3,821.3	3,602.7	3,541.6	3,652.2	3,687.5	2,761.3	2,538.5	2,761.3
I. Long-term receivables	804.2	416.0	639.2	949.0	854.1	545.2	465.2	476.7	476.7	255.2	52.2	255.2
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	—	135.0	42.8	403.7	308.8	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	804.2	281.0	596.4	545.3	545.3	545.2	465.2	476.7	476.7	255.2	52.2	255.2
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	2,875.0	2,613.2	2,617.2	2,666.8	2,731.1	2,789.6	2,851.3	2,546.3	2,603.8	1,932.0	1,894.3	1,932.0
1. Tangible fixed assets	2,680.2	2,417.0	2,426.8	2,476.7	2,539.9	2,600.4	2,661.4	2,369.2	2,425.8	1,751.4	1,714.6	1,751.4
- Cost	5,453.6	—	—	—	—	4,634.7	4,630.5	4,273.9	4,271.7	3,353.0	3,356.8	3,353.0
- Accumulated depreciation	-2,773.4	—	—	—	—	-2,034.3	-1,969.2	-1,904.7	-1,845.9	-1,601.6	-1,642.2	-1,601.6
2. Financial leased fixed assets	10.3	10.8	3.9	2.9	3.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	11.2	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-0.9	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	184.5	185.4	186.4	187.3	188.2	189.2	189.9	177.1	178.0	180.6	179.7	180.6
- Cost	236.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-51.5	—	—	—	—	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	248.7	209.9	24.9	52.6	28.6	52.1	23.1	398.9	381.1	351.0	362.1	351.0
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	248.7	209.9	24.9	52.6	28.6	52.1	23.1	398.9	381.1	351.0	362.1	351.0
V. Long-term financial investments	558.2	0.6	1.6	1.6	1.6	1.6	0.6	0.6	2.2	0.6	0.6	0.6
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	4.7	—	4.7	1.0	4.7	1.0	4.7	0.0	4.7	0.0	0.0	0.0
3. Investments in other entities	0.7	0.7	0.7	0.7	0.7	0.7	0.7	0.7	0.7	0.7	0.7	0.7
4. Provision for diminution in value of long-term investments	-4.7	-0.2	-3.8	-0.2	-3.8	-0.2	-4.8	-0.2	-3.2	-0.2	-0.2	-0.2
5. Held to maturity investments	557.6	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Provision for long-term investments held to maturity (*)	-0.2	—	—	—	—	—	—	—	—	—	—	—
6. Other long-term investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VI. Other long-term assets	349.2	188.2	195.7	201.8	205.9	214.2	201.5	229.8	23.7	23.4	21.8	23.4
1. Long-term prepayments	28.5	31.6	29.9	30.2	26.8	27.6	27.7	28.1	23.7	23.4	21.8	23.4
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	320.7	156.6	165.8	171.6	179.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	—	—	—	—	186.6	173.8	201.6	199.9	199.1	207.5	199.1
TOTAL ASSETS (280=100+200)	6,615.1	6,313.9	5,075.4	4,942.0	4,836.7	4,807.8	4,426.6	4,435.8	4,419.3	3,271.7	3,385.6	3,271.7
A. LIABILITIES (300=210+330)	3,828.9	3,856.2	2,810.8	2,710.5	2,729.0	2,752.3	2,528.9	2,605.2	2,681.4	1,591.2	1,712.0	1,591.2
I. Short -term liabilities	897.1	1,025.6	849.6	845.2	496.9	763.2	477.0	966.5	567.1	677.5	366.5	677.5
1. Short-term trade accounts payable	235.3	172.2	85.7	92.4	61.7	108.3	123.3	132.4	85.4	41.4	33.7	41.4
2. Short-term advances from customers	12.0	6.3	9.3	4.7	4.9	2.2	2.4	9.5	22.7	0.8	0.0	0.8
3. Dividends and profits payable	5.8	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	41.6	75.9	78.5	45.4	28.8	28.1	34.6	18.9	17.0	18.3	21.8	18.3
4. Payable to employees	12.5	15.1	14.5	22.8	15.3	17.6	12.1	9.0	20.7	2.2	2.3	2.2
5. Short-term acrrued expenses	22.1	17.8	66.8	18.2	37.0	22.9	23.8	27.3	11.9	29.1	17.6	29.1
6. Short-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.9	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	0.0	0.0	0.0
9. Other short-term payables	72.8	71.0	133.4	69.8	108.0	85.1	75.0	37.2	47.0	28.1	45.3	28.1
10. Short-term borrowings and financial leases	482.7	656.3	448.3	577.6	231.4	489.8	199.2	720.8	351.7	545.4	234.0	545.4
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	12.4	10.9	13.0	14.3	9.9	9.3	6.7	11.3	10.0	12.2	11.8	12.2
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	2,931.8	2,830.6	1,961.2	1,865.3	2,232.1	1,989.1	2,051.8	1,638.7	2,114.3	913.7	1,345.5	913.7
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	2,931.8	—	0.1	0.1	74.3	74.4	74.3	74.4	74.3	0.1	0.1	0.1
8. Long-term borrowings and financial leases	—	2,830.6	1,961.1	1,865.2	2,157.8	1,914.8	1,977.6	1,564.4	2,040.0	913.6	1,345.4	913.6
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)	2,786.2	2,457.7	2,264.6	2,231.5	2,107.7	2,055.5	1,897.7	1,830.6	1,737.9	1,680.5	1,673.6	1,680.5
I. Owner's equity	2,786.2	2,457.7	2,264.6	2,231.5	2,107.7	2,055.5	1,897.7	1,830.6	1,737.9	1,680.5	1,673.6	1,680.5
1. Owner's capital	837.9	837.9	837.9	837.9	837.9	837.9	837.9	837.9	837.9	837.9	837.9	837.9
- Common stock with voting right	837,896,580,000.00	837,896,580,000.00	837,896,580,000.00	837,896,580,000.00	837,896,580,000.00	837,896,580,000.00	837,896,580,000.00	837,896,580,000.00	837,896,580,000.00	837,896,580,000.00	837,896,580,000.00	837,896,580,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	5.9	5.9	5.9	5.9	5.9	5.9	5.9	5.9	5.9	5.9	5.9	5.9
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Treasury shares	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
6. Assets revaluation differences	—	—	—	—	—	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	697.2	629.1	637.5	629.1	513.2	499.9	506.6	499.9	412.6	407.0	411.2	407.0
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	—	—	—	—	4.3	4.3	4.3	4.3	0.0	4.3	0.0	4.3
11. Undistributed earnings after tax	929.8	676.8	479.7	461.3	468.1	422.7	264.7	205.3	203.1	159.6	140.2	159.6
- Accumulated retained earning at the end of the previous period	789.6	232.4	175.8	283.7	413.9	108.7	66.0	108.7	149.0	89.4	78.9	89.4
- Undistributed earnings in this period	140.2	444.4	303.9	177.6	54.2	314.0	198.6	96.6	54.1	70.2	61.3	70.2
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	315.3	308.0	303.6	297.3	278.4	284.8	278.4	277.3	278.4	265.8	278.4	265.8
14. Financial reserves	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Other resources and funds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	6,615.1	6,313.9	5,075.4	4,942.0	4,836.7	4,807.8	4,426.6	4,435.8	4,419.3	3,271.7	3,385.6	3,271.7

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	165.7	163.8	160.6	125.2	91.9	131.9	126.9	39.0	67.8	91.8	-21.2	3.7
Depreciation of Fixed Assets and Investment Property	32.7	85.8	48.4	103.3	42.0	178.5	-26.4	95.8	35.9	89.1	27.2	53.9
Provision (Increase)/Reversal	—	1.5	1.5	7.7	—	4.7	2.0	3.9	0.0	4.6	1.3	-1.1
FX Gain/Loss from Revaluation of Monetary Items	—	0.0	—	0.0	—	0.6	-0.6	0.6	0.0	0.5	0.0	0.0
Gain/Loss from Investment Activities	-8.7	31.0	-63.2	-9.2	-8.7	11.4	-16.2	-1.7	-0.1	5.2	-9.3	-1.6
Interest Expense	68.8	26.2	60.1	44.2	43.8	53.6	32.3	59.1	33.4	64.0	35.2	54.4
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	258.5	308.3	207.4	271.2	169.0	380.7	118.0	196.8	137.0	255.1	33.3	109.3
Increase/(Decrease) in Receivables	-61.7	33.2	-326.7	74.8	21.7	-115.9	91.5	-150.1	13.2	284.9	157.6	70.5
Increase/(Decrease) in Inventory	-0.7	-133.7	52.4	-55.5	-0.8	-106.3	36.9	-33.5	-2.2	-21.9	0.2	1.2
Increase/(Decrease) in Payables (Excl. Interest and CIT)	24.7	-41.7	82.8	-93.5	-10.3	69.6	-9.0	70.4	-14.2	115.1	-85.7	29.9
Increase/(Decrease) in Prepaid Expenses	1.9	-1.7	-0.7	1.3	-2.4	3.6	0.4	-2.3	-1.7	-6.9	5.3	-8.8
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-49.2	-69.3	-28.9	-45.5	-40.9	-74.7	-14.9	-50.0	-45.2	-52.1	-49.5	-46.7
Corporate Income Tax Paid	-37.6	-1.9	-9.1	-4.4	-4.8	-20.9	3.0	-3.8	-10.7	-1.4	-0.3	-4.2
Other Operating Receipts	—	—	—	—	—	0.0	0.0	-51.9	51.9	-198.1	198.1	-0.1
Other Operating Payments	-128.1	62.7	-66.4	-1.6	-2.0	-2.2	-3.8	-3.5	-0.5	49.5	-50.3	53.6
Net Cash Flow from Operating Activities	7.9	145.5	-79.0	113.2	163.0	133.8	222.1	-27.8	127.5	424.3	208.6	204.7
Payments for Fixed Assets and Other Long-term Assets	-49.5	-78.4	—	-7.4	1.6	-44.4	-9.4	-9.0	-9.6	-43.3	-4.7	-31.5
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.4	0.4	0.0	0.1	0.1	0.0	0.0	0.0	0.0	0.3	0.2	-0.0
Loans and Purchases of Debt Instruments	-123.4	72.5	-460.7	-80.3	-504.4	-29.6	33.1	-34.4	-22.0	228.7	-604.3	5.3
Receipts from Loan Repayments and Sale of Debt Instruments	252.9	3.8	280.8	-2.0	6.0	23.1	-16.0	48.4	16.3	187.5	129.0	-1.1
Investments in Other Entities	-545.7	—	—	—	—	0.0	0.0	0.0	0.0	-1,041.1	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	7.1	-21.3	38.6	5.9	0.1	1.8	3.3	-1.9	2.6	-7.8	12.1	-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	-458.4	-524.9	-135.6	-83.6	-496.6	-48.9	11.1	3.1	-12.6	-675.7	-467.8	-27.4
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	120.2	1,562.9	148.9	279.9	331.0	254.0	86.2	-247.3	554.1	655.4	665.5	138.9
Repayment of Borrowings	-285.2	-461.3	42.4	-281.2	-293.8	-34.9	-185.9	127.8	-662.0	-308.5	-324.9	-306.5
Repayment of Finance Leases	—	0.1	—	-0.9	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	-0.5	-60.8	-6.4	-0.0	-0.6	-10.4	-2.7	-0.0	-0.1	-18.8	3.9	-4.2
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	-165.5	1,040.0	185.8	-2.2	36.6	208.6	-102.4	-119.5	-108.0	328.1	344.5	-171.9
Net Cash Flow During the Period	-616.0	660.6	-28.9	27.4	-297.0	293.5	130.8	-144.3	6.9	76.7	85.3	5.4
Cash and Cash Equivalents at Beginning of Period	849.6	189.0	217.8	190.4	487.4	200.5	200.5	200.5	200.5	25.9	25.9	25.9
FX Difference from Revaluation	—	-0.0	—	-0.0	—	0.0	0.0	-0.0	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	233.6	849.6	189.0	217.8	190.4	487.5	194.0	63.2	207.5	200.5	123.8	38.5

Explore Other Stocks In The Same Sector

PGV, POW, NT2, QTP, HDG, DTK, HND, PPC, DNA, S4A, UIC, KHP, DNC, BTP, PIC, SIG, NBP

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

VCP

What Is Changing

Drivers of VCP'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