VPS

Thuốc sát trùng Việt Nam ·HOSE ·2026Q1

▲▲ Improving positively

Operating efficiency is improving Net margin 4.48%, +1.29pp YoY

Price

8,670

Latest close

02 Jun 2026

P/E 7.20x

P/B 0.60x

EPS 1,204

BVPS 14,350

ROE 8.6%

ROA 5.9%

Profit Margin 4.3%

Asset Turnover 1.37x

Equity Mult. 1.45x

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

What Is Changing

On a TTM 2026Q1 basis, VPS is improving on both revenue and margins, suggesting current growth is backed by both scale and operating efficiency — profit momentum has been slowing across consecutive periods. The next test will be whether this pace holds as the comparison base gets tougher.

	                            
	                                TTM REVENUE
	                            
	                                    VND 683bn
	                                
+27.4%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 31bn
	                                
+79.1%YoY

Metric	2025	2024	2023	2022	2021
Revenue	633.8	572.8	530.2	564.8	550.3
Growth	+11%	+8%	-6%	+3%	—
Net Income	24.4	24.9	14.3	18.0	15.3
Net Margin	3.85%	4.35%	2.69%	3.19%	2.79%

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	94.1	307.8	148.4	132.4	45.2	203.4	165.4	121.8	82.3	200.6	128.2	131.6
Growth	-69%	+107%	+12%	+193%	-78%	+23%	+36%	+48%	-59%	+56%	-3%	—
Net Income	0.1	16.7	6.7	7.0	-6.3	14.3	8.1	1.0	1.4	10.2	3.7	2.1
Net Margin	0.14%	5.44%	4.50%	5.30%	-14.01%	7.02%	4.91%	0.82%	1.66%	5.06%	2.88%	1.62%

Drivers of VPS's profit

TTM

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

Gross profit ↑ 7.0bn

Other profit ↑ 5.8bn

Finance costs ↓ 3.1bn

Selling expenses ↓ 3.0bn

Administrative expenses ↑ 5.4bn

TTM

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

Gross profit ↑ 11.6bn

Finance costs ↓ 1.2bn

Selling expenses ↑ 5.2bn

Administrative expenses ↑ 1.3bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 5.1% = 3.2% × 1.09 × 1.46

2026Q1 8.9% = 4.5% × 1.37 × 1.45

ROE rose from 5.1% to 8.9% — mainly driven by asset turnover, despite leverage moving in the opposite direction.

Net margin: 4.5% +1.3pp Asset turnover: 1.37x +0.28x Leverage: 1.45x -0.01x

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 edged up to 4.48%, rising 1.3pp. Core operating signals are improving as SG&A / Revenue fell 5.3pp are enough to offset pressure from Gross margin fell 6.0pp (with additional support from Other profit / Revenue rose 0.8pp and Net financial result / Revenue rose 0.6pp).

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 4.48% +1.3pp

Gross Margin 26.65% −6.0pp

SG&A / Revenue 20.89% −5.3pp

TTM YoY · 2025Q1 -> 2026Q1

Is capital being used efficiently?

Capital is being used more efficiently — ROIC rose and cash cycle shortened to 175.4 days.

Is capital being deployed efficiently?

ROIC expanded to 7.67%, rising 2.5pp. That translates to 7.67 in after-tax operating profit for every 100 units of operating capital. Both NOPAT margin rose 0.6pp and capital turnover rose 0.40x, with invested capital holding roughly steady — capital-return quality improved from both sides.

Both margin and turnover contributed — the improvement has a dual foundation and is more durable than a single-pillar expansion.

CAPITAL EFFICIENCY TREND

ROIC 7.67% +2.5pp

NOPAT Margin 3.73% +0.6pp

Capital Turnover 2.05x +0.40x

Average Invested Capital 332.3bn +8.3bn

Balance Sheet

ROIC is improving — the asset structure below shows how capital is being allocated. Balance sheet is exceptionally sound — liabilities at 0.54x equity, with a net cash position equivalent to 0.05x equity.

Inventory ended the period at 103.3bn, roughly 19.0% of total assets.

Over the last 12 months, working capital absorbed 15.1bn of cash, mainly because of higher receivables. Part of that drag was offset by lower inventories and higher payables.

Working Capital Drivers

Receivables increased → lower CFO: −48.4bn

Inventories decreased → higher CFO: +14.5bn

Payables increased → higher CFO: +18.8bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 42.4 days versus the same period last year. The main moves came from DIO fell 41.0 days, DSO fell 22.6 days, and DPO fell 21.2 days.

Improvement comes mainly from faster inventory turnover — watch whether this trend persists in coming periods.

Watchpoints

Cash conversion cycle remains stretched

CCC stands at 175.4 days, suggesting that working capital remains tied up for a relatively long operating cycle.

Working Capital Efficiency

Receivables 136.2 days −22.6 days

Inventory 92.0 days −41.0 days

Payables 52.8 days −21.2 days

Cash Conversion Cycle 175.4 days −42.4 days

Is financial risk significant?

Financial risk is low — the company has net cash and CFO reached 15.4bn.

Leverage & Liquidity

Leverage is balanced for now, with net debt / equity at -0.05x and interest coverage at 2.93x.

At present, short-term debt accounts for 100.0% of total debt, cash equals 139.7% of debt, and total debt stands at 41.9bn.

Watchpoints

Short-term refinancing pressure is meaningful

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

Leverage and liquidity trend

Net Debt / Equity -0.05x −0.03x

Interest Coverage 2.93x +1.16x

Cash / Debt 139.7% +23.1pp

Short-term Debt / Total Debt 100.0% +0.1pp

CFO / NI 0.78x +0.94x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 15.4bn in 2025, against investing cash flow of -1.9bn.

Post-investment cash flow was positive +13.6bn. Financing cash flow was negative +10.7bn.

CFO / net income was 0.78x.

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

Cash capex or FCF data is incomplete, so the cash-conversion view is only partial.

Cash Conversion

CFO TTM 23.2bn +25.6bn

Cash Capex — —

FCF TTM — —

Investment Takeaway

The business is entering a broader improvement phase — not just stronger earnings but better operating quality as well. Margin, ROIC, and cash flow all improving shows the business is growing in a cleaner and more efficient way than before. Notably, the improvement trend has been confirmed across multiple cycles, from margin to capital efficiency and cash generation. Even so, the earnings mix remains the area to verify in upcoming periods, when non-core contribution is 16.6%. The residual risk still sits in working capital is tied up too long in the operating cycle, with CCC extended to 175 days.

Improvement: operating efficiency is getting better, with trailing-12M net margin at 4.48% after expanding 1.3pp versus the same period last year.

Watchpoint: the earnings mix still needs monitoring, with net financial result still accounting for 16.6% of PBT and CFO / net income currently at 0.78x.

Key risk: working capital remains tied up for too long, with cash cycle at 175.4 days.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	659.0	607.1	563.3	595.5	581.7
Revenue Deductions	25.2	34.3	33.1	30.7	0.0
Net Revenue	633.8	572.8	530.2	564.8	550.3
Cost of Goods Sold	463.5	384.9	365.3	405.3	0.0
Gross Profit	170.3	187.9	164.9	159.5	160.4
Financial Income	3.2	4.1	4.4	4.5	4.1
Financial Expenses	11.7	13.9	13.0	11.1	-12.0
Interest Expense	1.7	1.6	1.9	1.4	-1.7
Share of Associates and Joint Ventures	-0.7	-0.9	-1.7	-1.1	-8.9
Selling Expenses	70.8	83.5	80.9	74.0	-70.2
General and Administrative Expenses	65.2	61.4	55.6	54.7	-53.8
Operating Profit	25.0	32.2	18.1	23.1	19.5
Other Income	5.8	0.6	0.4	2.6	0.0
Other Expenses	0.0	0.1	0.2	1.4	0.0
Other Profit	5.7	0.4	0.2	1.2	0.7
Profit Before Tax	30.8	32.6	18.3	24.3	20.2
Current Income Tax Expense	6.3	7.3	4.6	4.7	-4.9
Deferred Income Tax Expense	0.1	0.4	-0.5	1.7	0.0
Net Income	24.4	24.9	14.3	18.0	15.3
Non-controlling Interest	1.0	1.0	0.7	0.8	1.6
Profit Attributable to Parent	23.4	24.0	13.6	17.2	13.7
Earnings per Share	957.00	979.00	555.00	705.00	432.00
Diluted EPS	956.76	979.21	555.32	705.03	561.23

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	452.8	461.8	433.5	409.0	360.8
I. Cash and cash equivalents	76.1	73.3	66.2	67.9	110.4
1. Cash	50.0	55.3	46.2	34.9	0.0
2. Cash equivalents	26.1	18.0	20.0	33.0	0.0
II. Short-term financial investments	8.0	8.0	3.0	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	8.0	8.0	3.0	0.0	0.0
III. Short-term receivables	257.5	264.5	246.0	218.8	91.1
1. Short-term trade accounts receivable	309.8	315.7	297.5	270.5	0.0
2. Short-term prepayments to suppliers	3.1	3.2	2.0	1.0	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	—	0.0	0.0	0.0	0.0
6. Other short-term receivables	9.3	8.1	9.5	10.1	0.0
7. Provision for short-term doubtful debts (*)	-64.6	-62.4	-63.0	-62.9	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	103.3	105.9	106.8	109.1	124.8
1. Inventories	108.7	109.8	106.8	111.9	0.0
2. Provision for decline in value of inventories	-5.4	-3.9	0.0	-2.7	0.0
V. Other short-term assets	8.0	10.0	11.5	13.2	14.5
1. Short-term prepayments	0.5	0.7	0.4	0.6	0.0
2. Value added tax to be reclaimed	7.3	9.3	11.0	12.6	0.0
3. Taxes and other receivables from state authorities	0.2	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)	89.9	94.1	98.6	104.3	111.7
I. Long-term receivables	0.1	0.2	0.2	0.2	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	0.1
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	0.1	0.2	0.2	0.2	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	18.1	17.7	20.6	24.2	28.8
1. Tangible fixed assets	12.8	12.2	15.0	18.5	23.0
- Cost	157.8	158.7	162.5	162.0	0.0
- Accumulated depreciation	-145.0	-146.5	-147.4	-143.5	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	5.4	5.5	5.6	5.7	5.8
- Cost	9.0	9.0	9.0	9.0	0.0
- Accumulated depreciation	-3.6	-3.5	-3.4	-3.3	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	2.4	3.9	3.8	3.2	2.9
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	2.4	3.9	3.8	3.2	0.0
V. Long-term financial investments	3.3	4.1	5.4	7.0	8.2
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	3.3	4.1	5.4	7.0	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	66.0	68.2	68.7	69.8	0.0
1. Long-term prepayments	63.6	65.8	66.8	68.4	0.0
2. Deferred income tax assets	2.3	2.5	1.9	1.4	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	71.7
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)	542.8	555.9	532.2	513.4	472.5
A. LIABILITIES (300=210+330)	190.8	211.5	198.3	178.9	140.1
I. Short -term liabilities	186.5	207.2	195.0	174.6	136.8
1. Short-term trade accounts payable	81.1	96.0	92.3	76.0	54.1
2. Short-term advances from customers	0.8	0.7	1.9	1.4	4.6
3. Taxes and other payables to state authorities	3.0	3.2	5.3	3.8	0.0
4. Payable to employees	42.8	42.0	32.1	32.7	0.0
5. Short-term acrrued expenses	4.5	7.8	7.8	7.2	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	12.8	16.5	15.2	14.7	0.0
10. Short-term borrowings and financial leases	39.8	39.8	39.6	38.3	26.6
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	1.7	1.1	0.8	0.6	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	4.3	4.3	3.3	4.3	3.3
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	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	4.3	4.3	3.3	4.3	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)	352.0	344.4	333.8	334.5	332.4
I. Owner's equity	351.9	344.2	333.7	334.3	0.0
1. Owner's capital	244.6	244.6	244.6	244.6	332.3
- Common stock with voting right	244,607,920,000.00	244,607,920,000.00	244,607,920,000.00	244,607,920,000.00	244,607,920,000.00
- 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	—	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	67.7	64.1	63.2	62.4	0.0
9. Fund to support corporate restructuring	—	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	2.4	2.4	2.4	2.4	0.0
11. Undistributed earnings after tax	29.2	25.2	16.5	17.2	15.4
- Accumulated retained earning at the end of the previous period	4.8	1.3	3.0	-0.1	2.2
- Undistributed earnings in this period	24.4	23.9	13.5	17.2	13.1
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	8.0	8.0	7.0	7.7	8.2
14. Financial reserves	—	0.0	0.0	0.0	0.0
II. Other resources and funds	0.1	0.1	0.1	0.1	0.1
1. Subsidized not-for-profit funds	0.1	0.1	0.1	0.1	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)	542.8	555.9	532.2	513.4	472.5

Item	2025	2024	2023	2022	2021
Profit Before Tax	30.8	32.6	18.3	24.3	13.7
Depreciation of Fixed Assets and Investment Property	5.4	6.0	6.8	8.4	7.6
Provision (Increase)/Reversal	3.7	3.3	-2.6	-0.7	0.0
FX Gain/Loss from Revaluation of Monetary Items	0.2	0.0	1.0	-1.3	0.0
Gain/Loss from Investment Activities	-3.9	-0.7	0.4	-3.4	0.0
Interest Expense	1.7	1.6	1.9	1.4	0.0
Gain/Loss on Disposal of Fixed Assets	—	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	0.0	0.0	0.0	0.0
Other Adjustments	—	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	37.9	42.8	25.9	28.9	26.4
Increase/(Decrease) in Receivables	-4.3	-15.8	-27.2	-124.8	0.0
Increase/(Decrease) in Inventory	1.1	-2.9	6.3	16.1	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-9.9	11.7	19.8	22.8	0.0
Increase/(Decrease) in Prepaid Expenses	0.5	-1.1	-0.1	-0.8	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-1.7	-1.5	-2.0	-1.4	0.0
Corporate Income Tax Paid	-6.6	-7.3	-5.2	-2.2	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-1.6	-1.5	-1.7	-1.9	0.0
Net Cash Flow from Operating Activities	15.4	24.2	15.8	-63.4	-8.5
Payments for Fixed Assets and Other Long-term Assets	-2.5	-1.3	-1.8	-2.3	-1.4
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.1	0.3	0.1	1.8	0.0
Loans and Purchases of Debt Instruments	—	-5.0	-3.0	0.0	-10.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	0.0	0.0	20.0	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	0.6	1.3	1.1	2.8	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	-1.9	-4.7	-3.6	22.3	-11.2
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	97.6	97.1	83.7	78.2	76.2
Repayment of Borrowings	-97.5	-96.9	-82.5	-66.4	-76.3
Repayment of Finance Leases	—	0.0	-14.9	0.0	0.0
Dividends Paid	-10.8	-12.6	0.0	-13.1	-18.0
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	-10.7	-12.4	-13.7	-1.3	-18.2
Net Cash Flow During the Period	2.8	7.1	-1.5	-42.5	0.0
Cash and Cash Equivalents at Beginning of Period	73.3	66.2	67.9	110.4	106.0
FX Difference from Revaluation	-0.0	-0.0	-0.3	0.0	0.0
Cash and Cash Equivalents at End of Period	76.1	73.3	66.2	67.9	0.0

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	120.2	316.6	158.2	137.3	46.8	216.9	172.8	133.6	83.8	216.2	136.4	139.3
Revenue Deductions	26.1	8.8	9.7	5.0	1.7	13.6	7.4	11.8	1.5	15.6	8.2	7.7
Net Revenue	94.1	307.8	148.4	132.4	45.2	203.4	165.4	121.8	82.3	200.6	128.2	131.6
Cost of Goods Sold	68.9	242.2	98.5	91.2	31.7	135.6	106.5	87.1	55.7	134.5	91.2	93.8
Gross Profit	25.1	65.6	50.0	41.2	13.5	67.8	58.9	34.7	26.6	66.0	37.0	37.8
Financial Income	0.6	0.6	0.9	0.8	0.7	1.4	1.0	1.0	1.2	0.7	1.0	1.1
Financial Expenses	2.1	2.3	2.5	3.7	3.2	3.6	3.8	3.0	3.9	2.6	4.2	4.0
Interest Expense	0.6	0.5	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.5	0.5	0.5
Share of Associates and Joint Ventures	—	0.0	-0.2	-0.5	—	-0.3	0.0	-0.8	0.0	-0.5	0.0	-0.4
Selling Expenses	12.4	25.8	21.0	16.9	7.2	27.3	26.8	17.9	11.6	29.5	18.2	19.2
General and Administrative Expenses	11.3	22.5	19.4	13.4	10.0	18.8	19.2	13.2	10.6	22.6	11.2	12.5
Operating Profit	-0.0	15.6	7.8	7.6	-6.2	19.2	10.2	1.0	1.7	11.6	4.4	2.8
Other Income	0.3	5.6	0.1	0.3	-0.1	0.0	0.0	0.5	0.0	0.1	0.2	0.0
Other Expenses	0.0	0.1	0.0	0.0	0.0	0.1	0.0	0.0	0.0	0.1	0.0	0.0
Other Profit	0.3	5.5	0.1	0.2	-0.1	-0.1	0.0	0.5	0.0	0.0	0.2	-0.0
Profit Before Tax	0.3	21.1	7.9	7.8	-6.3	19.2	10.2	1.4	1.7	11.6	4.6	2.8
Current Income Tax Expense	0.1	4.6	1.5	0.1	0.1	4.9	2.1	0.3	0.0	2.7	0.9	0.4
Deferred Income Tax Expense	0.0	-0.2	-0.3	0.7	-0.1	-0.0	0.0	0.1	0.3	-1.2	0.0	0.3
Net Income	0.1	16.7	6.7	7.0	-6.3	14.3	8.1	1.0	1.4	10.2	3.7	2.1
Non-controlling Interest	0.1	0.5	0.3	0.1	0.1	0.2	0.5	0.2	0.1	0.1	0.4	0.2
Profit Attributable to Parent	0.0	16.2	6.4	6.9	-6.4	14.1	7.6	0.8	1.3	10.0	3.3	2.0
Earnings per Share	0.28	663.00	262.00	279.00	-259.00	576.00	312.00	32.28	52.45	410.00	87.00	87.00
Diluted EPS	0.28	663.10	261.93	281.83	-261.65	575.60	312.52	32.28	52.45	409.52	136.26	80.00

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	425.5	459.6	429.2	395.6	382.8	470.7	421.2	404.5	400.3	433.5	398.3	379.2
I. Cash and cash equivalents	58.6	76.1	64.7	48.5	46.6	73.3	62.4	48.2	57.4	66.2	73.4	52.0
1. Cash	56.1	50.0	50.0	31.0	21.1	55.3	45.9	34.2	47.4	46.2	58.1	39.0
2. Cash equivalents	2.5	26.1	14.7	17.5	25.5	18.0	16.5	14.0	10.0	20.0	15.3	13.0
II. Short-term financial investments	8.0	8.0	8.0	8.0	8.0	8.0	8.0	11.3	11.3	3.0	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	8.0	8.0	8.0	8.0	8.0	8.0	8.0	11.3	11.3	3.0	0.0	0.0
III. Short-term receivables	227.1	264.2	206.8	189.6	185.0	273.4	216.4	189.4	181.2	246.0	189.8	189.4
1. Short-term trade accounts receivable	275.2	309.8	258.7	242.2	234.3	316.0	266.9	239.8	232.0	297.5	238.9	241.0
2. Short-term prepayments to suppliers	3.2	3.1	2.2	1.7	1.5	3.2	3.2	2.4	2.9	2.0	4.5	1.2
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	13.3	16.0	8.4	8.2	11.7	17.0	9.4	10.2	9.4	9.5	9.2	10.0
7. Provision for short-term doubtful debts (*)	-64.6	-64.6	-62.4	-62.4	-62.4	-62.7	-63.1	-63.1	-63.0	-63.0	-62.8	-62.8
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	114.1	103.3	134.4	131.0	129.6	106.0	119.0	135.8	129.4	106.8	119.6	119.9
1. Inventories	119.0	108.7	138.1	135.5	133.4	109.8	119.0	135.8	129.4	106.8	122.3	122.6
2. Provision for decline in value of inventories	-4.9	-5.4	-3.6	-4.6	-3.9	-3.8	0.0	0.0	0.0	0.0	-2.7	-2.7
V. Other short-term assets	17.8	8.0	15.3	18.5	13.5	10.0	15.4	19.9	20.9	11.5	15.5	17.9
1. Short-term prepayments	9.5	0.5	4.8	6.6	1.1	0.7	4.6	6.3	8.3	0.4	2.9	4.4
2. Value added tax to be reclaimed	7.8	7.3	10.5	11.3	11.9	9.3	10.8	12.8	12.6	11.0	12.6	13.3
3. Taxes and other receivables from state authorities	0.5	0.2	—	0.6	0.6	0.0	0.0	0.8	0.0	0.0	0.0	0.2
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)	87.4	89.9	90.3	92.6	101.1	94.2	94.6	96.0	97.2	100.0	98.7	100.3
I. Long-term receivables	0.1	0.1	0.1	0.1	0.2	0.2	0.3	0.2	0.3	0.2	0.2	0.2
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	0.1	0.1	0.1	0.1	0.2	0.2	0.3	0.2	0.3	0.2	0.2	0.2
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	17.3	18.1	18.3	19.0	18.2	17.7	18.6	19.2	19.5	20.6	20.4	21.6
1. Tangible fixed assets	12.0	12.8	12.9	13.6	12.8	12.2	13.1	13.7	14.0	15.0	14.8	15.9
- Cost	157.8	—	—	—	—	158.7	158.7	158.9	162.5	162.5	161.2	162.0
- Accumulated depreciation	-145.8	—	—	—	—	-146.5	-145.6	-145.2	-148.5	-147.4	-146.5	-146.0
2. Financial leased fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	5.3	5.4	5.4	5.4	5.4	5.5	5.5	5.5	5.5	5.6	5.6	5.6
- Cost	9.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-3.7	—	—	—	—	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	2.4	2.4	4.3	4.0	3.9	3.9	3.9	3.9	3.8	3.8	3.7	3.6
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	2.4	2.4	4.3	4.0	3.9	3.9	3.9	3.9	3.8	3.8	3.7	3.6
V. Long-term financial investments	3.5	3.3	3.3	3.5	4.1	4.3	4.6	4.6	5.4	6.2	6.6	6.6
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	3.5	3.3	3.3	3.5	4.1	4.3	4.6	4.6	5.4	6.2	6.6	6.6
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	64.1	65.9	64.3	66.1	74.8	68.2	67.2	68.1	68.2	69.2	67.7	68.3
1. Long-term prepayments	61.8	63.6	62.2	64.2	72.2	65.8	65.7	66.6	66.6	66.8	66.6	67.2
2. Deferred income tax assets	2.3	2.3	2.1	1.9	2.5	2.5	1.5	1.5	1.6	2.4	1.1	1.1
3. Long-term equipment, supplies, spare parts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other long-term assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Goodwill	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	513.0	549.5	519.6	488.2	483.9	564.9	515.8	500.5	497.5	533.5	497.0	479.5
A. LIABILITIES (300=210+330)	162.0	197.5	184.3	159.9	147.0	220.4	185.6	178.4	162.3	197.9	171.3	157.5
I. Short -term liabilities	157.6	193.3	180.0	155.6	142.7	216.1	182.2	175.1	159.0	194.5	167.0	153.2
1. Short-term trade accounts payable	77.3	81.1	85.0	68.0	67.5	96.0	79.3	80.8	78.8	92.3	81.8	64.8
2. Short-term advances from customers	0.7	0.8	1.0	0.9	2.1	0.7	1.3	1.1	2.7	1.9	0.6	1.0
3. Dividends and profits payable	7.2	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	8.9	3.0	8.2	7.4	11.2	3.2	7.2	8.2	11.5	4.8	6.3	5.8
4. Payable to employees	10.4	42.8	25.9	8.9	8.1	42.1	29.1	12.1	13.2	32.1	14.6	11.6
5. Short-term acrrued expenses	5.9	4.5	8.7	5.7	1.6	7.8	10.1	7.4	1.9	7.8	10.0	6.7
6. Short-term inter-company payables	—	—	—	—	—	-0.1	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	4.5	19.5	9.2	22.7	11.9	25.4	13.2	23.7	10.6	15.3	12.8	23.5
10. Short-term borrowings and financial leases	41.9	39.8	39.9	39.7	40.0	39.8	39.9	39.7	39.9	39.6	39.9	38.6
11. Provision for short-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	0.8	1.7	2.0	2.1	0.4	1.1	2.0	2.1	0.5	0.8	1.0	1.1
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	4.4	4.3	4.3	4.3	4.3	4.3	3.3	3.3	3.3	3.3	4.3	4.3
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	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	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	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	4.3	4.3	4.3	4.3	4.3	4.3	3.3	3.3	3.3	3.3	4.3	4.3
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	0.1	—	—	—	—	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)	351.0	352.0	335.3	328.3	336.9	344.5	330.2	322.1	335.2	335.6	325.7	322.0
I. Owner's equity	351.0	351.9	335.1	328.2	336.8	344.4	330.1	322.0	335.1	335.5	325.6	321.9
1. Owner's capital	244.6	244.6	244.6	244.6	244.6	244.6	244.6	244.6	244.6	244.6	244.6	244.6
- Common stock with voting right	244,607,920,000.00	244,607,920,000.00	244,607,920,000.00	244,607,920,000.00	244,607,920,000.00	244,607,920,000.00	244,607,920,000.00	244,607,920,000.00	244,607,920,000.00	244,607,920,000.00	244,607,920,000.00	244,607,920,000.00
- 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	—	—	—	2.4	—	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	67.7	67.7	67.7	67.7	64.1	64.1	64.1	64.1	63.2	63.2	63.2	63.2
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	2.4	2.4	2.4	—	2.4	2.4	2.4	2.4	2.4	2.4	2.4	2.4
11. Undistributed earnings after tax	29.2	29.2	13.0	6.3	18.6	25.3	11.3	3.6	17.7	18.3	7.8	4.5
- Accumulated retained earning at the end of the previous period	28.5	5.9	5.9	5.9	25.0	-3.5	1.5	1.7	-5.3	3.0	2.4	2.4
- Undistributed earnings in this period	0.7	23.3	7.1	0.4	-6.4	28.8	9.7	1.9	23.0	15.3	5.4	2.1
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	7.1	8.0	7.4	7.2	7.1	8.0	7.8	7.3	7.1	7.0	7.5	7.2
14. Financial reserves	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Other resources and funds	—	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1
1. Subsidized not-for-profit funds	—	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1
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)	513.0	549.5	519.6	488.2	483.9	564.9	515.8	500.5	497.5	533.5	497.0	479.5

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	0.3	21.1	7.9	8.1	-6.3	19.2	10.2	1.4	1.7	10.8	4.6	2.8
Depreciation of Fixed Assets and Investment Property	1.3	0.1	2.6	1.0	1.8	1.3	1.5	1.5	1.5	1.7	1.6	1.6
Provision (Increase)/Reversal	—	3.0	0.0	0.7	—	8.4	0.0	0.1	0.0	-2.5	0.0	-0.1
FX Gain/Loss from Revaluation of Monetary Items	0.0	1.9	-0.9	-0.7	-0.1	0.0	0.6	-1.4	0.8	0.2	-0.2	1.1
Gain/Loss from Investment Activities	-0.1	-3.3	-0.1	2.7	-3.2	-6.0	0.4	-0.0	-0.2	0.7	-0.0	-0.1
Interest Expense	0.6	0.5	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.5	0.5	0.5
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	2.1	23.3	9.9	12.2	-7.4	23.4	13.0	2.0	4.3	11.2	6.5	5.8
Increase/(Decrease) in Receivables	32.5	-57.2	-22.4	-1.4	76.7	-54.9	-32.8	-3.3	59.7	-56.2	0.3	5.1
Increase/(Decrease) in Inventory	-10.2	29.3	-2.5	-2.1	-23.7	12.1	13.9	-6.4	-22.6	16.0	0.9	16.3
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-32.6	17.3	37.7	-3.5	-61.4	32.5	27.4	-2.2	-29.5	29.0	23.1	-18.7
Increase/(Decrease) in Prepaid Expenses	-7.7	2.4	3.4	1.9	-7.2	3.4	2.1	1.6	-8.2	1.9	1.6	2.1
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-0.6	-0.5	-0.4	-0.4	-0.4	-0.4	-0.4	-0.4	-0.4	-0.5	-0.5	-0.5
Corporate Income Tax Paid	-2.6	-3.3	-0.1	-0.1	-3.1	-4.0	-0.2	-1.3	-1.7	-1.6	-0.0	-0.0
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-1.1	-0.3	-0.2	0.5	-1.7	-0.9	-0.1	1.6	-2.1	-0.3	-0.1	2.2
Net Cash Flow from Operating Activities	-20.3	11.1	25.3	7.1	-28.1	11.2	22.8	-8.4	-0.6	-0.5	31.9	12.3
Payments for Fixed Assets and Other Long-term Assets	—	1.2	-0.5	-1.3	-2.0	-1.1	-0.4	-0.9	0.0	-1.3	-0.2	-0.4
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.0	—	0.1	—	0.3	-0.4	0.4	0.0	0.1	0.0	0.0
Loans and Purchases of Debt Instruments	—	—	—	—	—	0.0	3.3	0.0	-8.3	-3.0	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	—	—	—	—	0.2	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	-2.1	-0.5	0.5	0.5	0.1	0.8	0.5	0.1	0.2	0.4	0.0	0.4
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	-2.1	0.8	-0.1	-1.0	-1.6	-0.0	3.0	-0.4	-8.1	-3.7	-0.2	0.1
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	16.7	27.9	23.6	23.9	22.2	27.8	19.5	27.0	22.8	24.4	18.7	24.7
Repayment of Borrowings	-14.6	-28.0	-23.4	-24.2	-21.9	-28.0	-19.2	-27.3	-22.4	-24.7	-17.3	-26.1
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	-14.9	0.0	0.0
Dividends Paid	2.8	-0.7	-9.3	-3.7	2.8	-0.2	-11.9	-0.1	-0.5	12.6	-11.7	-3.1
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	4.9	-0.8	-9.0	-3.9	3.0	-0.3	-11.6	-0.4	-0.1	-2.7	-10.4	-4.5
Net Cash Flow During the Period	-17.5	11.1	16.2	2.2	-26.7	10.8	14.2	-9.2	-8.8	-6.9	21.4	7.8
Cash and Cash Equivalents at Beginning of Period	76.1	64.7	48.5	46.6	73.3	66.2	66.2	66.2	66.2	67.9	67.9	67.9
FX Difference from Revaluation	—	-0.0	-0.3	-0.3	—	-0.0	-0.0	0.0	0.0	-0.3	0.0	-0.0
Cash and Cash Equivalents at End of Period	58.6	76.1	64.7	48.5	46.6	73.3	62.4	48.2	57.4	66.2	73.4	52.0

Explore Other Stocks In The Same Sector

DCM, DPM, DDV, BFC, VFG, VAF, LAS, NFC, SFG, PCE, PSE, PMB, PSW, AVG, SPC, DHB, CPC, DOC, BT1, HSI, QBS, ABS

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

VPS

What Is Changing

Drivers of VPS'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