VTB

Viettronics Tân Bình ·HOSE ·2026Q1

▲▲ Improving positively

Operating efficiency is improving Net margin 13.29%, +4.20pp YoY

Price

13,850

Latest close

04 Jun 2026

P/E 8.18x

P/B 0.86x

EPS 1,693

BVPS 16,176

ROE 9.6%

ROA 7.8%

Profit Margin 13.3%

Asset Turnover 0.59x

Equity Mult. 1.22x

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

What Is Changing

On a TTM 2026Q1 basis, VTB has not accelerated revenue sharply, but profitability is improving visibly — the growth momentum has held across consecutive periods. Profit growth is driven mainly by better operations rather than scale expansion — a foundation that tends to be more durable.

	                            
	                                TTM REVENUE
	                            
	                                    VND 137bn
	                                
+17.7%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 18bn
	                                
+72.2%YoY

Metric	2025	2024	2023	2022	2021
Revenue	135.2	114.5	113.0	248.4	328.9
Growth	+18%	+1%	-55%	-24%	—
Net Income	14.8	11.2	10.7	22.4	7.6
Net Margin	10.95%	9.79%	9.48%	9.02%	2.32%

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	29.0	35.3	33.8	39.1	26.9	32.3	29.5	27.9	24.8	35.9	30.4	25.0
Growth	-18%	+4%	-14%	+46%	-17%	+10%	+6%	+12%	-31%	+18%	+22%	—
Net Income	3.7	8.5	2.3	3.8	1.9	3.3	3.1	2.3	2.0	4.0	2.2	3.4
Net Margin	12.74%	24.02%	6.67%	9.74%	7.06%	10.33%	10.40%	8.19%	7.98%	11.06%	7.26%	13.70%

Drivers of VTB's profit

TTM

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

Gross profit ↑ 13.5bn

Financial income ↑ 0.8bn

Selling expenses ↑ 5.7bn

Tax ↑ 1.5bn

TTM

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

Gross profit ↑ 1.7bn

Financial income ↑ 0.3bn

Administrative expenses ↓ 0.2bn

Minority interests ↑ 0.3bn

Tax ↑ 0.2bn

Other profit ↓ 0.2bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 5.6% = 9.1% × 0.50 × 1.23

2026Q1 9.5% = 13.3% × 0.59 × 1.22

ROE rose from 5.6% to 9.5% — mainly driven by asset turnover, despite leverage moving in the opposite direction.

Net margin: 13.3% +4.2pp Asset turnover: 0.59x +0.08x Leverage: 1.22x -0.00x

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 13.29%, rising 4.2pp. The main driver is SG&A / Revenue fell 2.5pp and Gross margin rose 2.0pp, moving in line with the stronger net margin (in addition, Net financial result / Revenue rose 0.3pp added support while Other profit / Revenue fell 0.3pp remained a drag).

The improvement comes from core operations — this is a high-quality margin expansion.

Profitability trend

Net Margin 13.29% +4.2pp

Gross Margin 53.59% +2.0pp

SG&A / Revenue 39.75% −2.5pp

TTM YoY · 2025Q1 -> 2026Q1

Is capital being used efficiently?

Capital is being used more efficiently — ROIC rose and cash cycle shortened to 197.3 days.

Is capital being deployed efficiently?

ROIC expanded to 9.80%, rising 4.2pp. That translates to 9.80 in after-tax operating profit for every 100 units of operating capital. Both NOPAT margin rose 4.4pp and capital turnover rose 0.10x, with invested capital holding roughly steady — capital-return quality improved from both sides.

NOPAT margin expansion has lifted ROIC above the deposit-rate threshold but below typical cost of equity — more same-direction periods are needed to confirm a structural shift.

CAPITAL EFFICIENCY TREND

ROIC 9.80% +4.2pp

NOPAT Margin 13.32% +4.4pp

Capital Turnover 0.74x +0.10x

Average Invested Capital 186.6bn +2.0bn

Balance Sheet

ROIC is improving — the asset structure below shows how capital is being allocated. Balance sheet is exceptionally sound — liabilities at 0.22x equity, with a net cash position equivalent to 0.03x equity.

Over the last 12 months, working capital released 0.0bn of cash.

Working Capital Drivers

Receivables were broadly stable → neutral CFO: —

Inventories were broadly stable → neutral CFO: —

Payables were broadly stable → neutral CFO: —

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 38.7 days versus the same period last year. The main moves came from DIO fell 43.1 days, DSO rose 2.3 days, and DPO fell 2.1 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 197.3 days, suggesting that working capital remains tied up for a relatively long operating cycle.

Receivables collection is slowing

DSO increased by +2.3 days, pointing to slower receivables turnover.

Working Capital Efficiency

Receivables 29.9 days +2.3 days

Inventory 168.4 days −43.1 days

Payables 1.0 days −2.1 days

Cash Conversion Cycle 197.3 days −38.7 days

Is financial risk significant?

Financial risk is low — the company has net cash and CFO reached 17.7bn.

Leverage & Liquidity

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

At present, short-term debt accounts for 100.0% of total debt, cash equals 887.7% of debt, and total debt stands at 0.7bn.

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 -0.03x −0.01x

Interest Coverage — —

Cash / Debt 887.7% +24.8pp

Short-term Debt / Total Debt 100.0% 0.0pp

CFO / NI 1.13x −0.28x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 17.7bn in 2025, against investing cash flow of -7.6bn.

Post-investment cash flow was positive +10.1bn. Financing cash flow was negative +16.8bn.

CFO / net income was 1.13x.

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 20.6bn +5.1bn

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 15.8%. The residual risk still sits in working capital is tied up too long in the operating cycle, with CCC extended to 197 days.

Improvement: operating efficiency is getting better, with trailing-12M net margin at 13.29% after expanding 4.2pp versus the same period last year.

Watchpoint: cash flow is currently keeping pace with accounting earnings, with CFO / net income at 1.13x. Even so, net financial result still accounts for 15.8% of PBT, so the earnings mix still needs monitoring.

Key risk: working capital remains tied up for too long, with cash cycle at 197.3 days.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	135.3	114.6	113.4	249.8	330.7
Revenue Deductions	0.1	0.1	0.5	1.5	0.0
Net Revenue	135.2	114.5	113.0	248.4	328.9
Cost of Goods Sold	66.7	51.6	41.6	174.1	0.0
Gross Profit	68.4	63.0	71.3	74.3	81.0
Financial Income	3.3	3.0	4.9	4.1	1.9
Financial Expenses	0.0	0.2	0.2	0.2	-0.2
Interest Expense	0.0	0.1	0.2	0.2	-0.1
Share of Associates and Joint Ventures	0.1	0.2	-0.1	0.0	-0.0
Selling Expenses	36.9	34.5	44.6	34.9	-57.6
General and Administrative Expenses	17.3	17.0	16.7	15.7	-16.2
Operating Profit	17.6	14.5	14.7	27.5	8.8
Other Income	3.4	0.1	0.1	0.7	0.0
Other Expenses	2.4	0.3	0.2	1.0	0.0
Other Profit	1.1	-0.2	-0.1	-0.3	0.4
Profit Before Tax	18.7	14.2	14.6	27.2	9.3
Current Income Tax Expense	4.5	3.1	3.0	2.2	-1.6
Deferred Income Tax Expense	-0.6	-0.1	0.8	2.6	0.0
Net Income	14.8	11.2	10.7	22.4	7.6
Non-controlling Interest	-0.8	-0.3	-0.1	3.8	3.0
Profit Attributable to Parent	15.6	11.5	10.8	18.6	4.6
Earnings per Share	1,443.00	1,068.00	1,000.00	1,722.00	429.00
Diluted EPS	1,301.42	1,068.00	1,000.00	1,722.00	387.34

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	125.6	127.6	116.3	130.8	154.5
I. Cash and cash equivalents	6.5	13.2	4.2	14.0	27.7
1. Cash	6.5	6.2	4.2	7.5	0.0
2. Cash equivalents	—	7.0	0.0	6.5	0.0
II. Short-term financial investments	74.7	65.5	55.6	46.0	0.0
1. Available for sale securities	0.3	0.3	0.3	0.3	0.0
2. Provision for diminution in value of available for sale securities (*)	-0.1	-0.1	0.0	0.0	0.0
3. Held to maturity investments	74.5	65.3	55.3	45.7	0.0
III. Short-term receivables	17.0	14.0	20.0	30.6	24.2
1. Short-term trade accounts receivable	15.6	11.3	14.2	27.5	0.0
2. Short-term prepayments to suppliers	0.9	1.6	1.9	0.9	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	2.3	2.9	5.8	4.0	0.0
7. Provision for short-term doubtful debts (*)	-2.0	-2.0	-2.0	-1.9	0.0
8. Assets awaiting resolution	0.1	0.1	0.1	0.1	0.0
IV. Inventories	21.2	29.9	33.1	34.4	54.0
1. Inventories	26.8	32.5	34.6	35.6	0.0
2. Provision for decline in value of inventories	-5.7	-2.6	-1.5	-1.2	0.0
V. Other short-term assets	6.3	5.0	3.4	5.8	5.3
1. Short-term prepayments	6.0	4.4	2.9	2.8	0.0
2. Value added tax to be reclaimed	0.1	0.3	0.3	0.0	0.0
3. Taxes and other receivables from state authorities	0.2	0.2	0.2	3.0	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)	107.0	109.8	114.4	103.6	112.5
I. Long-term receivables	18.2	18.2	18.2	18.3	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	18.2
2. Long-term prepayments to suppliers	18.2	18.2	18.2	18.2	0.0
3. Capital at inter-company	—	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	0.0	0.0	0.0	0.0
6. Other long-term receivables	—	0.0	0.0	0.1	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	58.8	62.7	67.5	73.2	79.1
1. Tangible fixed assets	42.6	45.8	50.1	55.2	60.5
- Cost	134.5	133.3	132.9	133.1	0.0
- Accumulated depreciation	-91.9	-87.5	-82.8	-77.9	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	16.2	16.9	17.4	18.0	18.6
- Cost	26.8	26.8	26.7	26.7	0.0
- Accumulated depreciation	-10.6	-9.9	-9.3	-8.7	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	9.3	9.3	9.4	9.4	9.4
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	9.3	9.3	9.4	9.4	0.0
V. Long-term financial investments	17.7	17.6	17.4	0.0	0.0
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	17.7	17.6	17.4	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	3.0	2.0	1.8	2.6	0.0
1. Long-term prepayments	1.2	0.8	0.7	0.7	0.0
2. Deferred income tax assets	1.8	1.2	1.1	2.0	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	5.8
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)	232.6	237.4	230.7	234.4	267.1
A. LIABILITIES (300=210+330)	42.5	50.9	44.2	47.0	68.0
I. Short -term liabilities	16.1	27.2	21.1	28.3	57.2
1. Short-term trade accounts payable	4.7	1.8	2.7	3.6	0.7
2. Short-term advances from customers	0.0	0.1	0.2	0.0	21.4
3. Taxes and other payables to state authorities	2.5	1.7	1.1	1.3	0.0
4. Payable to employees	3.9	5.1	4.8	4.0	0.0
5. Short-term acrrued expenses	3.6	3.0	4.1	3.1	0.0
6. Short-term inter-company payables	—	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	0.3	0.3	0.0	0.0	0.0
9. Other short-term payables	0.2	9.9	3.5	0.9	0.0
10. Short-term borrowings and financial leases	—	2.9	1.8	8.0	0.0
11. Provision for short-term liabilities	0.4	1.0	1.1	5.6	0.0
12.. Bonus and welfare fund	0.4	1.4	1.8	1.7	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	26.4	23.7	23.1	18.8	10.7
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	15.7	13.0	12.1	7.9	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	9.9	9.9	10.2	10.0	0.0
8. Long-term borrowings and financial leases	—	0.0	0.0	0.0	0.0
9. Convertible bonds	—	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	0.8	0.8	0.8	0.9	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)	190.1	186.5	186.4	187.4	199.1
I. Owner's equity	190.1	186.5	186.4	187.4	0.0
1. Owner's capital	119.8	119.8	119.8	119.8	199.1
- Common stock with voting right	119,820,500,000.00	119,820,500,000.00	119,820,500,000.00	119,820,500,000.00	119,820,500,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	69.0	69.0	69.0	69.0	69.0
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	-23,523,036,791.00	-23,523,044,392.00	-23,523,044,392.00	-23,523,044,392.00	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	7.3	10.3	10.3	10.0	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	15.1	7.7	7.3	8.0	16.9
- Accumulated retained earning at the end of the previous period	4.9	1.6	1.9	-5.2	18.7
- Undistributed earnings in this period	10.2	6.1	5.4	13.2	-1.8
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	2.4	3.1	3.5	4.1	6.9
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)	232.6	237.4	230.7	234.4	267.1

Item	2025	2024	2023	2022	2021
Profit Before Tax	18.7	14.2	14.6	27.2	0.0
Depreciation of Fixed Assets and Investment Property	5.5	5.6	5.8	5.6	0.9
Provision (Increase)/Reversal	2.5	1.0	-4.1	-12.2	0.0
FX Gain/Loss from Revaluation of Monetary Items	—	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-3.7	-3.0	-3.7	-1.3	0.0
Interest Expense	0.0	0.1	0.2	0.2	0.0
Gain/Loss on Disposal of Fixed Assets	—	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	0.0	0.0	0.0	0.0
Other Adjustments	—	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	23.1	17.9	12.8	19.6	0.0
Increase/(Decrease) in Receivables	-2.5	1.6	13.9	-0.5	0.0
Increase/(Decrease) in Inventory	5.7	2.1	1.0	19.2	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-1.8	2.3	1.8	-39.8	0.0
Increase/(Decrease) in Prepaid Expenses	-1.9	-1.6	-0.2	2.4	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-0.0	-0.1	-0.3	-0.1	0.0
Corporate Income Tax Paid	-3.4	-2.2	-0.2	-1.1	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-1.5	-2.8	-2.8	-1.8	0.0
Net Cash Flow from Operating Activities	17.7	17.3	26.2	-2.0	59.7
Payments for Fixed Assets and Other Long-term Assets	-1.6	-0.8	-0.1	0.0	-3.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.4	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	-83.0	-103.5	-62.3	-65.7	-56.5
Receipts from Loan Repayments and Sale of Debt Instruments	73.8	93.5	52.7	63.0	26.0
Investments in Other Entities	—	0.0	-17.5	0.0	0.0
Proceeds from Investments in Other Entities	—	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	2.9	4.7	3.7	1.3	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	-7.6	-6.1	-23.5	-1.4	-26.3
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	9.1	13.4	14.8	19.0	13.6
Repayment of Borrowings	-12.0	-12.3	-21.0	-11.0	-20.5
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-14.0	-3.3	-6.2	-18.3	-29.6
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	-16.8	-2.2	-12.4	-10.3	-36.5
Net Cash Flow During the Period	-6.7	9.0	-9.8	-13.7	-0.8
Cash and Cash Equivalents at Beginning of Period	13.2	4.2	14.0	27.7	17.9
FX Difference from Revaluation	—	0.0	0.0	0.0	-0.0
Cash and Cash Equivalents at End of Period	6.5	13.2	4.2	14.0	27.7

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
Revenue	29.1	35.3	33.8	39.2	27.0	32.3	29.5	27.9	24.9	35.8	30.8	25.0
Revenue Deductions	0.1	—	—	0.0	0.1	0.0	0.0	0.0	0.1	-0.0	0.4	0.0
Net Revenue	29.0	35.3	33.8	39.1	26.9	32.3	29.5	27.9	24.8	35.9	30.4	25.0
Cost of Goods Sold	12.8	12.0	17.4	21.5	12.4	24.5	10.0	9.6	7.7	17.8	10.8	7.4
Gross Profit	16.2	23.3	16.4	17.6	14.5	7.8	19.5	18.3	17.1	18.1	19.6	17.6
Financial Income	1.0	1.0	0.8	0.8	0.7	0.8	0.7	0.7	0.9	1.3	1.2	1.4
Financial Expenses	0.0	0.0	—	0.0	0.0	0.0	0.1	0.0	0.0	0.0	0.0	-0.0
Interest Expense	0.0	0.0	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	-0.0
Share of Associates and Joint Ventures	—	0.2	—	0.2	—	-0.1	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	8.4	9.0	10.0	10.1	8.4	-0.4	11.9	11.8	11.3	9.0	13.6	10.4
General and Administrative Expenses	4.1	4.9	4.2	3.8	4.3	4.6	4.4	4.2	4.1	4.5	4.2	4.3
Operating Profit	4.7	10.6	3.0	4.7	2.5	4.3	3.8	2.9	2.6	5.8	2.9	4.2
Other Income	0.0	-0.1	0.0	0.0	2.5	0.0	0.1	0.0	0.0	-0.0	0.1	0.0
Other Expenses	0.0	-0.0	0.0	0.1	2.3	0.0	0.1	0.0	0.0	-0.1	0.0	0.0
Other Profit	0.0	-0.1	-0.0	-0.0	0.2	-0.0	-0.0	0.0	0.0	0.0	0.0	0.0
Profit Before Tax	4.7	10.5	2.9	4.7	2.7	4.3	3.8	2.9	2.6	5.8	2.9	4.2
Current Income Tax Expense	1.0	2.1	0.7	0.9	0.8	1.0	0.8	0.6	0.6	0.9	0.7	0.8
Deferred Income Tax Expense	—	-0.1	—	—	—	-0.0	0.0	0.0	0.0	0.9	0.0	0.0
Net Income	3.7	8.5	2.3	3.8	1.9	3.3	3.1	2.3	2.0	4.0	2.2	3.4
Non-controlling Interest	-0.1	0.1	-0.2	0.2	-0.4	0.1	-0.0	-0.1	-0.2	0.5	-0.2	0.0
Profit Attributable to Parent	3.8	8.4	2.5	3.6	2.3	3.3	3.1	2.4	2.2	3.5	2.4	3.4
Earnings per Share	353.00	775.00	228.00	337.00	216.00	302.00	285.00	224.00	204.00	324.00	221.00	316.00
Diluted EPS	353.00	775.00	228.00	337.00	216.00	1,075.00	285.00	224.00	204.00	324.00	221.00	316.00

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)	129.3	128.5	132.9	126.4	122.9	127.8	125.9	123.6	116.2	116.4	124.7	133.9
I. Cash and cash equivalents	6.2	6.5	8.5	6.7	3.9	6.2	3.6	2.1	4.3	4.2	5.9	14.1
1. Cash	6.2	6.5	8.5	6.7	3.9	6.2	3.6	2.1	4.3	4.2	2.9	10.1
2. Cash equivalents	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	3.0	4.0
II. Short-term financial investments	78.7	74.7	79.2	64.7	70.2	72.6	71.6	70.6	64.6	55.6	63.1	65.8
1. Available for sale securities	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3
2. Provision for diminution in value of available for sale securities (*)	-0.1	-0.1	-0.1	-0.1	-0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Held to maturity investments	78.5	74.5	79.0	64.5	70.0	72.3	71.3	70.3	64.3	55.3	62.8	65.5
III. Short-term receivables	16.7	17.1	16.4	24.1	16.0	14.1	14.9	14.4	11.1	20.0	14.9	10.8
1. Short-term trade accounts receivable	12.5	15.6	13.5	18.6	10.0	11.4	12.2	10.6	7.6	14.2	11.0	8.6
2. Short-term prepayments to suppliers	2.4	1.0	2.0	1.2	1.0	1.6	0.9	2.3	0.7	1.9	1.8	1.3
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	3.5	2.3	2.7	6.1	6.8	2.9	3.7	3.4	4.6	5.8	3.8	2.6
7. Provision for short-term doubtful debts (*)	-2.0	-2.0	-2.0	-2.0	-2.0	-2.0	-2.0	-2.0	-2.0	-2.0	-1.9	-1.9
8. Assets awaiting resolution	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1
IV. Inventories	22.4	24.3	23.0	27.1	28.5	30.0	32.3	34.0	32.9	33.1	36.2	38.1
1. Inventories	27.7	26.8	25.6	29.7	31.1	32.5	34.3	35.5	34.4	34.6	37.2	39.1
2. Provision for decline in value of inventories	-5.3	-2.6	-2.6	-2.6	-2.6	-2.5	-2.0	-1.5	-1.5	-1.5	-1.0	-1.0
V. Other short-term assets	5.3	6.0	5.8	3.9	4.3	5.0	3.6	2.6	3.4	3.5	4.6	5.2
1. Short-term prepayments	5.0	5.7	5.4	3.6	3.9	4.4	3.0	2.1	2.7	2.9	3.3	3.1
2. Value added tax to be reclaimed	0.2	0.1	0.2	0.1	0.3	0.3	0.4	0.3	0.4	0.3	0.2	0.3
3. Taxes and other receivables from state authorities	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.3	1.1	1.8
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	0.2	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	105.4	106.8	108.0	108.6	109.4	109.9	110.5	111.7	113.4	114.4	113.1	100.5
I. Long-term receivables	18.2	18.2	18.2	18.2	18.2	18.2	18.2	18.2	18.2	18.2	18.2	18.3
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	18.2	18.2	18.2	18.2	18.2	18.2	18.2	18.2	18.2	18.2	18.2	18.2
3. Capital at inter-company	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.1
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	57.4	58.8	59.7	60.1	61.3	62.7	63.7	65.1	66.5	67.5	68.9	70.4
1. Tangible fixed assets	41.4	42.6	43.3	43.5	44.6	45.8	46.7	47.9	49.2	50.1	51.4	52.7
- Cost	134.4	—	—	—	—	133.3	133.2	133.2	133.2	132.9	133.2	133.2
- Accumulated depreciation	-93.1	—	—	—	—	-87.5	-86.5	-85.3	-84.0	-82.8	-81.8	-80.6
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	16.1	16.2	16.4	16.6	16.7	16.9	17.0	17.2	17.3	17.4	17.6	17.7
- Cost	26.8	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-10.7	—	—	—	—	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	9.3	9.3	9.3	9.3	9.3	9.3	9.3	9.3	9.4	9.4	9.4	9.4
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	9.3	9.3	9.3	9.3	9.3	9.3	9.3	9.3	9.4	9.4	9.4	9.4
V. Long-term financial investments	17.7	17.9	17.7	17.7	17.5	17.6	17.7	17.5	17.5	17.5	13.5	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	17.7	17.9	17.7	17.7	17.5	17.6	17.7	17.5	17.5	17.5	13.5	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	2.8	2.5	3.1	3.2	3.0	2.0	1.6	1.5	1.7	1.8	3.0	2.4
1. Long-term prepayments	1.0	1.2	1.8	2.0	1.8	0.8	0.4	0.4	0.5	0.7	0.8	0.5
2. Deferred income tax assets	1.8	1.3	1.3	1.2	1.2	1.2	1.2	1.1	1.1	1.1	2.0	2.0
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	0.2	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)	234.7	235.3	240.9	235.1	232.3	237.6	236.4	235.3	229.6	230.8	237.8	234.4
A. LIABILITIES (300=210+330)	40.9	43.9	52.2	48.6	44.0	45.6	47.7	50.3	41.1	44.2	49.9	48.7
I. Short -term liabilities	14.3	17.5	24.7	21.9	19.5	21.9	22.9	25.8	17.6	21.4	27.9	29.9
1. Short-term trade accounts payable	0.0	4.7	1.4	2.7	0.3	1.8	1.0	1.0	0.6	2.7	0.3	2.1
2. Short-term advances from customers	0.1	0.0	0.4	0.7	1.5	0.1	0.5	0.3	1.2	0.2	0.8	0.0
3. Dividends and profits payable	0.2	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	1.6	2.6	3.8	2.7	0.9	1.7	3.8	1.1	1.0	1.1	3.6	2.0
4. Payable to employees	2.3	3.9	4.1	3.6	2.3	5.1	3.7	3.2	2.3	4.8	3.7	3.2
5. Short-term acrrued expenses	8.5	4.5	8.6	2.5	7.4	4.0	7.9	11.0	9.3	5.5	8.9	12.0
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	0.1	0.3	0.1	0.3	0.1	0.3	0.0	0.0	0.0	0.0	0.0	0.0
9. Other short-term payables	0.1	0.3	4.6	6.6	4.2	4.5	4.6	4.6	1.5	3.5	3.5	7.6
10. Short-term borrowings and financial leases	0.7	—	—	—	0.5	2.9	0.0	2.1	0.2	1.8	0.8	0.0
11. Provision for short-term liabilities	0.4	—	—	1.0	1.0	0.0	0.0	0.0	0.0	0.0	4.3	0.0
12.. Bonus and welfare fund	0.4	1.3	1.8	1.9	1.3	1.4	1.6	2.5	1.5	1.8	1.9	3.0
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	26.6	26.4	27.6	26.8	24.5	23.7	24.8	24.5	23.5	22.8	22.0	18.8
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	15.9	15.7	16.5	14.9	13.6	13.0	14.0	13.7	12.7	11.7	11.2	8.2
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	9.9	9.8	10.3	11.0	10.0	9.9	10.0	9.9	10.0	10.2	9.9	9.7
8. Long-term borrowings and financial leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Convertible bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	0.8	0.8	0.8	0.8	0.8	0.8	0.9	0.8	0.8	0.9	0.9	0.9
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)	193.8	191.5	188.7	186.4	188.3	192.1	188.7	185.1	188.5	186.5	187.9	185.7
I. Owner's equity	193.8	191.5	188.7	186.4	188.3	192.1	188.7	185.1	188.5	186.5	187.9	185.7
1. Owner's capital	119.8	119.8	119.8	119.8	119.8	119.8	119.8	119.8	119.8	119.8	119.8	119.8
- Common stock with voting right	119,820,500,000.00	119,820,500,000.00	119,820,500,000.00	119,820,500,000.00	119,820,500,000.00	119,820,500,000.00	119,820,500,000.00	119,820,500,000.00	119,820,500,000.00	119,820,500,000.00	119,820,500,000.00	119,820,500,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	69.0	69.0	69.0	69.0	69.0	69.0	69.0	69.0	69.0	69.0	69.0	69.0
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Treasury shares	-23,523,036,791.00	-23,523,044,392.00	-23,523,036,791.00	-23,523,044,392.00	-23,523,044,392.00	-23,523,044,392.00	-23,523,044,392.00	-23,523,044,392.00	-23,523,044,392.00	-23,523,044,392.00	-23,523,044,392.00	-23,523,044,392.00
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	7.3	10.3	10.3	10.3	10.3	10.3	10.3	10.3	10.3	10.3	10.3	10.3
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	18.9	13.2	10.4	7.9	10.0	13.2	9.9	6.3	9.6	7.4	9.3	6.9
- Accumulated retained earning at the end of the previous period	15.1	1.8	1.9	1.9	7.6	1.6	1.6	1.7	7.4	1.9	1.9	1.9
- Undistributed earnings in this period	3.8	11.4	8.4	6.0	2.3	11.6	8.4	4.6	2.2	5.5	7.4	5.0
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	2.2	2.6	2.7	2.9	2.7	3.2	3.1	3.1	3.3	3.5	3.0	3.2
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)	234.7	235.3	240.9	235.1	232.3	237.6	236.4	235.3	229.6	230.8	237.8	234.4

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Profit Before Tax	4.7	11.4	—	7.3	—	0.0	-6.3	6.3	0.0	14.6	-5.9	5.9
Depreciation of Fixed Assets and Investment Property	1.4	2.8	—	2.7	—	0.0	-2.8	2.8	0.0	5.8	-2.9	2.9
Provision (Increase)/Reversal	-0.3	2.5	—	-0.0	—	0.0	-0.4	0.4	0.0	-4.1	1.5	-1.5
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	-1.0	-1.7	—	-2.0	—	0.0	1.5	-1.5	0.0	-3.7	2.3	-2.3
Interest Expense	0.0	0.0	—	0.0	—	0.0	-0.0	0.0	0.0	0.2	-0.1	0.1
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	4.8	14.9	—	8.1	—	0.0	-8.0	8.0	0.0	12.8	-5.1	5.1
Increase/(Decrease) in Receivables	1.0	7.1	—	-9.6	—	0.0	-2.7	2.7	0.0	13.9	-20.1	20.1
Increase/(Decrease) in Inventory	-0.9	2.8	—	2.8	—	0.0	0.9	-0.9	0.0	1.0	3.5	-3.5
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-1.2	-6.4	—	4.6	—	0.0	-5.0	5.0	0.0	1.8	-5.5	5.5
Increase/(Decrease) in Prepaid Expenses	1.2	-0.5	—	-1.4	—	0.0	-1.1	1.1	0.0	-0.2	0.1	-0.1
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-0.0	-0.0	—	-0.0	—	0.0	0.0	-0.0	0.0	-0.3	0.3	-0.3
Corporate Income Tax Paid	-2.1	-1.7	0.0	-0.8	-1.0	-1.5	-0.0	-0.5	-0.2	0.0	0.0	-0.0
Other Operating Receipts	—	—	—	—	—	6.3	1.9	-0.4	0.4	-1.9	1.9	-0.5
Other Operating Payments	-0.0	48.7	-49.2	16.8	-17.8	-26.7	-27.9	7.1	-9.8	32.9	-35.7	11.7
Net Cash Flow from Operating Activities	2.7	2.0	13.9	2.1	-0.3	0.8	13.2	1.8	10.6	-1.7	1.2	11.3
Payments for Fixed Assets and Other Long-term Assets	—	-1.3	-0.2	-0.1	—	0.0	0.5	-0.5	0.0	-0.0	0.0	-0.1
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.0	—	0.4	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	-9.0	-66.0	—	-17.0	—	0.0	63.0	-63.0	0.0	-62.3	57.8	-57.8
Receipts from Loan Repayments and Sale of Debt Instruments	5.0	56.0	—	17.8	—	0.0	-48.0	48.0	0.0	52.7	-38.0	38.0
Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	-4.0	-13.5	0.0
Proceeds from Investments in Other Entities	—	—	0.0	—	—	0.0	0.0	0.0	0.0	-0.0	0.0	-0.0
Dividends and Interest Income Received	0.3	0.2	1.5	1.1	0.0	0.2	0.5	1.9	2.1	1.0	0.3	1.5
Increase/(Decrease) in Term Deposits	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	-3.7	3.8	-13.6	6.8	-4.7	-0.8	-0.0	-4.5	-6.9	4.5	-10.5	-3.9
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	1.8	1.9	0.0	3.8	3.5	2.6	-1.4	2.5	0.0	14.0	0.8	0.0
Repayment of Borrowings	-1.1	-1.9	0.0	-4.2	-5.9	0.0	-10.2	-0.6	-1.6	-13.0	0.0	-1.0
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	—	-7.8	1.6	-5.7	-2.0	0.0	-0.1	-1.3	-2.0	-5.4	0.2	-1.0
Other Financing Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Financing Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	0.7	-7.8	1.6	-6.1	-4.4	2.6	-11.7	0.6	-3.6	-4.4	1.0	-2.0
Net Cash Flow During the Period	-0.2	-2.1	1.9	2.8	-9.3	2.6	1.5	-2.2	0.1	-1.6	-8.2	5.4
Cash and Cash Equivalents at Beginning of Period	6.5	8.5	6.7	3.9	13.2	4.2	4.2	4.2	4.2	14.0	14.0	14.0
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	6.2	6.5	8.5	6.7	3.9	6.2	3.6	2.1	4.3	4.2	5.9	14.1

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VTB

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