AAA

Nhựa An Phát Xanh ·HOSE ·2026Q1

▲▲ Improving positively

Operating efficiency is improving Net margin 5.74%, +4.33pp YoY

Price

6,980

Latest close

02 Jun 2026

P/E 5.79x

P/B 0.44x

EPS 1,205

BVPS 15,827

ROE 7.7%

ROA 3.7%

Profit Margin 5.2%

Asset Turnover 0.72x

Equity Mult. 2.05x

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

What Is Changing

On a TTM 2026Q1 basis, AAA posted a sharp profit increase versus the same period, suggesting a clear improvement from a low base — profit is at an all-time high. The point still to be proven is whether this new profit level can hold once the low-base effect fades.

	                            
	                                TTM REVENUE
	                            
	                                    VND 9,096bn
	                                
−33.5%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 522bn
	                                
+170.9%YoY

Metric	2025	2024	2023	2022	2021
Revenue	10,728.1	12,782.2	12,621.5	15,290.3	13,154.4
Growth	-16%	+1%	-17%	+16%	—
Net Income	423.9	319.8	309.2	117.3	322.7
Net Margin	3.95%	2.50%	2.45%	0.77%	2.45%

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	2,224.1	2,192.3	2,369.5	2,310.0	3,856.4	3,842.6	3,193.4	2,782.5	2,963.8	2,684.6	3,529.1	2,791.3
Growth	+1%	-7%	+3%	-40%	+0%	+20%	+15%	-6%	+10%	-24%	+26%	—
Net Income	162.6	62.0	125.4	171.8	55.5	54.0	-25.7	108.8	143.9	92.2	103.5	50.8
Net Margin	7.31%	2.83%	5.29%	7.44%	1.44%	1.41%	-0.80%	3.91%	4.86%	3.43%	2.93%	1.82%

Drivers of AAA's profit

TTM

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

Selling expenses ↓ 311.5bn

Finance costs ↓ 244.7bn

Administrative expenses ↓ 112.4bn

Associates income ↑ 42.1bn

Gross profit ↓ 231.8bn

Minority interests ↑ 114.0bn

TTM

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

Finance costs ↓ 125.5bn

Selling expenses ↓ 73.4bn

Associates income ↑ 33.4bn

Administrative expenses ↓ 14.3bn

Gross profit ↓ 103.9bn

Tax ↑ 20.1bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 3.2% = 1.4% × 1.15 × 1.97

2026Q1 8.5% = 5.7% × 0.72 × 2.05

ROE rose from 3.2% to 8.5% — mainly driven by leverage, despite asset turnover moving in the opposite direction.

Net margin: 5.7% +4.3pp Asset turnover: 0.72x -0.42x Leverage: 2.05x +0.08x

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 5.74%, rising 4.3pp. Core operating signals are improving as Gross margin rose 3.4pp are enough to offset pressure from SG&A / Revenue rose 0.1pp (in addition, Net financial result / Revenue rose 1.2pp added support while Other profit / Revenue fell 0.0pp remained a drag).

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

Profitability trend

Net Margin 5.74% +4.3pp

Gross Margin 15.27% +3.4pp

SG&A / Revenue 9.41% +0.1pp

TTM YoY · 2025Q1 -> 2026Q1

Is capital being used efficiently?

Return on capital rose, but cash cycle lengthened by 15.2 days — working capital needs watching.

Is capital being deployed efficiently?

ROIC expanded to 6.87%, rising 4.1pp. That translates to 6.87 in after-tax operating profit for every 100 units of operating capital. The main driver is NOPAT margin rose 4.3pp, with capital turnover fell 0.74x; while invested capital rose by 551bn.

NOPAT margin is driving the improvement — ROIC has cleared the deposit-rate threshold but not yet the typical cost of equity level, and this momentum needs to hold as new invested capital is fully deployed.

CAPITAL EFFICIENCY TREND

ROIC 6.87% +4.1pp

NOPAT Margin 5.74% +4.3pp

Capital Turnover 1.20x −0.74x

Average Invested Capital 7,593.7bn +551.0bn

Balance Sheet

ROIC is improving — the asset structure below shows how capital is being allocated. Capital structure is conservative with low leverage — liabilities at 1.12x equity, net debt at 0.26x equity.

Over the last 12 months, working capital released 458.3bn of cash, mainly thanks to lower inventories and higher payables. Pressure from higher receivables only partly offset that benefit.

Working Capital Drivers

Receivables increased → lower CFO: −174.1bn

Inventories decreased → higher CFO: +12.9bn

Payables increased → higher CFO: +619.5bn

Working Capital Efficiency

The inventory build-up noted above is reflected in a longer cash cycle. Cash conversion cycle lengthened by 15.2 days versus the same period last year. The main moves came from DIO rose 17.2 days, DSO rose 8.3 days, and DPO rose 10.3 days.

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

Watchpoints

Cash conversion cycle is lengthening

CCC is up by +15.2 days, indicating weaker working-capital turnover versus the prior year.

Receivables collection is slowing

DSO increased by +8.3 days, pointing to slower receivables turnover.

Working Capital Efficiency

Receivables 30.3 days +8.3 days

Inventory 38.9 days +17.2 days

Payables 25.9 days +10.3 days

Cash Conversion Cycle 43.3 days +15.2 days

Is financial risk significant?

Leverage is safe but FCF is negative at 20.8bn due to capex of 1,196.2bn — an investment choice, not an urgent risk.

Leverage & Liquidity

Leverage looks fairly comfortable, with net debt / equity at 0.26x and interest coverage at 5.63x.

At present, short-term debt accounts for 62.8% of total debt, cash equals 46.3% of debt, and total debt stands at 3,031.1bn.

Watchpoints

Short-term refinancing pressure is meaningful

Short-term debt accounts for 62.8% of total debt, raising near-term refinancing needs.

Leverage and liquidity trend

Net Debt / Equity 0.26x +0.05x

Interest Coverage 5.63x +4.87x

Cash / Debt 46.3% −15.8pp

Short-term Debt / Total Debt 62.8% +2.6pp

CFO / NI 2.50x +0.74x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 977.8bn in 2025, against investing cash flow of -1,505.1bn.

Post-investment cash flow was negative +527.3bn. Financing cash flow was negative +287.0bn.

CFO / net income was 2.50x.

After spending +1,196.2bn on fixed-asset investment, the business generated trailing free cash flow of −20.8bn.

Cash Conversion

CFO TTM 1,175.3bn +726.8bn

Cash Capex 1,196.2bn −75.8bn

FCF TTM −20.8bn +802.6bn

Investment Takeaway

The business is heading the right way, but the current picture is still at partial confirmation — not yet a fully clean case. The positive points have clearly improved, showing the operating base is better than before. The brighter spot is operating efficiency, with net margin improving 4.3 pp. Warning and risk signals are not yet decisive enough to shift the picture.

Improvement: operating efficiency is getting better, with trailing-12M net margin at 5.74% after expanding 4.3pp versus the same period last year.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	10,733.8	12,787.7	12,628.2	15,314.7	13,165.3
Revenue Deductions	5.6	5.5	6.7	24.4	0.0
Net Revenue	10,728.1	12,782.2	12,621.5	15,290.3	13,154.4
Cost of Goods Sold	9,235.3	11,298.1	11,512.8	14,204.1	0.0
Gross Profit	1,492.8	1,484.1	1,108.7	1,086.2	1,301.6
Financial Income	172.9	270.7	242.7	214.5	229.5
Financial Expenses	231.9	200.7	239.3	257.4	-199.7
Interest Expense	133.8	159.5	190.5	173.7	-151.7
Share of Associates and Joint Ventures	43.9	56.7	52.9	57.7	22.9
Selling Expenses	542.0	716.8	511.1	666.1	-738.5
General and Administrative Expenses	378.7	380.4	285.3	247.6	-194.8
Operating Profit	557.1	513.7	368.7	187.3	420.9
Other Income	20.3	10.2	16.2	8.6	0.0
Other Expenses	40.1	108.3	7.0	9.8	0.0
Other Profit	-19.9	-98.1	9.2	-1.2	-7.2
Profit Before Tax	537.2	415.6	377.9	186.1	413.6
Current Income Tax Expense	111.2	95.6	77.9	72.1	-91.0
Deferred Income Tax Expense	2.1	0.2	-9.2	-3.3	0.0
Net Income	423.9	319.8	309.2	117.3	322.7
Non-controlling Interest	51.0	-48.8	19.8	-35.3	38.2
Profit Attributable to Parent	372.9	368.6	289.4	152.6	284.5
Earnings per Share	966.00	964.00	757.00	433.00	871.54
Diluted EPS	966.00	964.00	757.00	433.00	871.54

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	4,532.8	6,426.4	5,681.6	5,658.8	5,336.7
I. Cash and cash equivalents	1,617.7	2,419.5	2,435.1	1,643.0	1,987.2
1. Cash	1,182.9	1,652.1	1,298.8	1,228.6	0.0
2. Cash equivalents	434.8	767.5	1,136.3	414.3	0.0
II. Short-term financial investments	234.4	718.6	1,079.6	448.7	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	234.4	718.6	1,079.6	448.7	0.0
III. Short-term receivables	1,504.7	1,801.0	1,204.9	1,572.9	1,810.4
1. Short-term trade accounts receivable	703.5	1,205.5	687.0	1,020.3	0.0
2. Short-term prepayments to suppliers	400.0	548.9	342.2	248.9	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	313.1	1.5	62.9	177.0	0.0
6. Other short-term receivables	104.3	77.3	137.9	139.3	0.0
7. Provision for short-term doubtful debts (*)	-16.1	-32.2	-25.1	-12.6	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	943.5	1,286.4	781.7	1,790.1	965.6
1. Inventories	944.5	1,288.1	783.4	1,861.1	0.0
2. Provision for decline in value of inventories	-1.0	-1.7	-1.7	-71.0	0.0
V. Other short-term assets	232.6	200.8	180.3	204.1	137.4
1. Short-term prepayments	18.7	24.2	13.1	10.1	0.0
2. Value added tax to be reclaimed	213.8	175.2	164.3	184.0	0.0
3. Taxes and other receivables from state authorities	0.1	1.3	2.9	10.1	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)	8,358.8	7,341.8	5,901.9	5,137.1	4,654.9
I. Long-term receivables	358.2	384.6	82.3	66.8	0.0
1. Long-term trade receivables	—	0.0	0.0	50.2	279.0
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	299.0	358.5	77.2	0.9	0.0
6. Other long-term receivables	59.2	26.1	5.1	15.7	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	2,781.8	3,037.3	2,013.0	2,077.4	2,100.8
1. Tangible fixed assets	2,620.6	2,836.5	1,863.9	2,000.0	2,022.4
- Cost	4,809.4	5,028.0	3,825.5	3,707.0	0.0
- Accumulated depreciation	-2,188.9	-2,191.5	-1,961.7	-1,707.0	0.0
2. Financial leased fixed assets	32.7	56.8	0.0	0.0	0.0
- Cost	37.4	58.3	0.0	0.0	0.0
- Accumulated depreciation	-4.7	-1.5	0.0	0.0	0.0
3. Intangible fixed assets	128.6	143.9	149.1	77.4	78.4
- Cost	160.8	174.8	176.3	99.8	0.0
- Accumulated depreciation	-32.2	-30.9	-27.2	-22.4	0.0
III. Investment properties	1,270.4	1,304.0	1,318.0	497.3	526.3
- Cost	1,543.8	1,515.8	1,467.6	599.9	0.0
- Accumulated depreciation	-273.4	-211.8	-149.6	-102.6	0.0
IV. Long-term assets in progress	2,384.1	1,224.9	296.5	693.4	853.2
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	2,384.1	1,224.9	296.5	693.4	0.0
V. Long-term financial investments	496.0	254.2	1,328.1	1,494.0	569.9
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	465.5	223.8	1,328.1	1,464.0	0.0
3. Investments in other entities	30.5	30.4	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	30.0	0.0
6. Other long-term investments	—	0.0	0.0	0.0	0.0
VI. Other long-term assets	1,068.3	1,136.9	863.9	308.1	0.0
1. Long-term prepayments	931.7	966.2	801.7	270.2	0.0
2. Deferred income tax assets	11.5	14.2	14.5	5.4	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	325.7
5. Goodwill	125.0	156.4	47.8	32.5	0.0
VII. Goodwill (before 2015)	—	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	12,891.6	13,768.2	11,583.4	10,795.8	9,991.6
A. LIABILITIES (300=210+330)	6,812.4	7,531.9	5,619.6	4,624.6	4,533.2
I. Short -term liabilities	3,279.8	4,132.6	3,737.0	3,206.5	3,260.5
1. Short-term trade accounts payable	587.6	873.5	517.4	754.6	598.3
2. Short-term advances from customers	132.1	135.2	119.1	146.5	147.8
3. Taxes and other payables to state authorities	101.2	88.7	17.9	5.2	0.0
4. Payable to employees	61.6	66.7	35.1	49.9	0.0
5. Short-term acrrued expenses	97.4	92.5	133.8	16.9	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	169.2	111.5	116.2	97.8	66.1
9. Other short-term payables	180.6	169.9	168.6	224.7	0.0
10. Short-term borrowings and financial leases	1,901.2	2,554.9	2,625.5	1,887.8	2,172.9
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	49.0	39.7	3.5	23.2	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	3,532.6	3,399.3	1,882.5	1,418.2	1,272.8
1. Long-term trade payables	—	0.0	0.0	0.5	0.8
2. Long-term advances from customers	—	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	7.3	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	2,382.9	2,039.5	1,498.2	157.4	89.4
7. Other long-term liabilities	3.7	3.9	8.8	10.6	0.0
8. Long-term borrowings and financial leases	1,129.9	1,339.6	358.9	1,242.4	1,176.0
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	11.8	11.9	12.4	0.0	0.0
12. Provision for long-term liabilities	4.3	4.3	4.2	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)	6,079.2	6,236.3	5,963.9	6,171.2	5,458.4
I. Owner's equity	6,079.2	6,236.3	5,963.9	6,171.2	0.0
1. Owner's capital	3,937.4	3,822.7	3,822.7	3,822.7	5,458.4
- Common stock with voting right	3,937,427,300,000.00	3,822,744,960,000.00	3,822,744,960,000.00	3,822,744,960,000.00	3,264,344,960,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	823.9	823.9	823.9	823.9	712.6
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	18.8	18.8	18.8	44.7	26.5
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	42.9	35.4	22.4	13.1	0.0
8. Investment and development fund	80.5	80.5	80.5	80.5	0.0
9. Fund to support corporate restructuring	—	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	13.2	13.2	13.2	13.2	0.0
11. Undistributed earnings after tax	551.7	539.3	562.6	721.7	723.9
- Accumulated retained earning at the end of the previous period	255.4	514.4	273.2	628.4	439.4
- Undistributed earnings in this period	296.3	24.9	289.4	93.3	284.5
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	610.8	902.5	619.7	651.3	646.4
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)	12,891.6	13,768.2	11,583.4	10,795.8	9,991.6

Item	2025	2024	2023	2022	2021
Profit Before Tax	537.2	415.6	377.9	186.1	413.6
Depreciation of Fixed Assets and Investment Property	504.7	400.4	331.0	311.0	315.8
Provision (Increase)/Reversal	2.7	6.2	-56.7	73.9	0.0
FX Gain/Loss from Revaluation of Monetary Items	-7.1	-6.8	-12.5	-4.7	0.0
Gain/Loss from Investment Activities	-50.6	-64.5	-231.5	-156.5	0.0
Interest Expense	150.6	168.1	210.8	182.0	0.0
Gain/Loss on Disposal of Fixed Assets	—	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	0.0	0.0	0.0	0.0
Other Adjustments	—	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	1,137.5	919.0	618.9	591.8	757.4
Increase/(Decrease) in Receivables	-508.4	-98.4	493.4	304.2	0.0
Increase/(Decrease) in Inventory	17.0	-251.7	934.1	-847.4	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	674.4	657.9	897.2	327.4	0.0
Increase/(Decrease) in Prepaid Expenses	-66.0	-24.1	-49.8	51.0	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-133.7	-174.8	-189.5	-170.2	0.0
Corporate Income Tax Paid	-102.2	-33.2	-60.1	-115.7	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-40.9	-35.9	-29.0	-43.9	0.0
Net Cash Flow from Operating Activities	977.8	958.9	2,615.2	97.1	546.2
Payments for Fixed Assets and Other Long-term Assets	-1,425.1	-1,038.1	-643.2	-168.3	-686.2
Proceeds from Disposal of Fixed Assets and Long-term Assets	10.0	35.1	8.1	6.0	6.5
Loans and Purchases of Debt Instruments	-1,038.6	-2,317.3	-2,260.9	-627.3	-1,640.3
Receipts from Loan Repayments and Sale of Debt Instruments	1,138.2	2,668.5	1,871.0	566.4	2,175.4
Investments in Other Entities	-98.0	-944.3	-747.4	-954.3	-401.0
Proceeds from Investments in Other Entities	-179.9	11.2	1.7	0.4	0.0
Dividends and Interest Income Received	88.3	169.8	171.4	83.3	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	-1,505.1	-1,415.2	-1,599.4	-1,093.8	-126.0
Proceeds from Equity Issuance and Capital Contributions	46,355,220,000.00	0.00	0.00	854,220,890,000.00	1,145,712,154,488.00
Share Repurchases	—	0.00	0.00	0.00	0.00
Proceeds from Borrowings	4,877.6	6,953.8	6,422.4	7,891.4	8,763.9
Repayment of Borrowings	-5,084.1	-6,516.7	-6,658.1	-8,114.5	-9,149.8
Repayment of Finance Leases	-12.1	-3.5	0.0	0.0	0.0
Dividends Paid	-114.7	-10.5	-0.1	-0.2	-148.5
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	-287.0	423.1	-235.9	630.9	611.2
Net Cash Flow During the Period	-814.3	-33.2	780.0	-365.7	550.7
Cash and Cash Equivalents at Beginning of Period	2,419.5	2,435.1	1,643.0	1,988.2	963.7
FX Difference from Revaluation	12.5	17.7	12.1	20.5	-7.9
Cash and Cash Equivalents at End of Period	1,617.7	2,419.5	2,435.1	1,643.0	1,987.2

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	2,224.7	2,193.5	2,371.8	2,310.9	3,857.6	3,844.2	3,194.7	2,784.0	2,964.9	2,687.2	3,531.4	2,792.3
Revenue Deductions	0.6	1.2	2.3	0.9	1.2	1.5	1.3	1.6	1.0	2.6	2.3	0.9
Net Revenue	2,224.1	2,192.3	2,369.5	2,310.0	3,856.4	3,842.6	3,193.4	2,782.5	2,963.8	2,684.6	3,529.1	2,791.3
Cost of Goods Sold	1,864.3	1,864.9	2,021.9	1,955.8	3,392.7	3,389.3	2,848.1	2,424.1	2,632.0	2,375.5	3,209.3	2,569.6
Gross Profit	359.8	327.4	347.6	354.1	463.7	453.4	345.3	358.3	331.8	309.1	319.7	221.7
Financial Income	27.4	34.9	27.1	73.3	37.6	91.7	33.5	98.1	47.9	67.9	63.1	61.4
Financial Expenses	36.8	41.0	28.0	10.9	162.3	77.5	38.1	83.6	39.8	67.3	52.8	59.4
Interest Expense	30.2	35.1	24.2	36.6	37.9	49.8	33.9	40.8	35.0	48.5	46.6	46.6
Share of Associates and Joint Ventures	37.7	5.3	19.5	16.0	4.3	4.0	7.6	20.5	23.7	22.8	11.9	3.6
Selling Expenses	108.1	118.5	114.9	127.0	181.5	234.3	191.0	173.2	123.0	136.0	146.5	106.0
General and Administrative Expenses	84.0	109.9	93.4	100.5	98.2	141.3	183.8	76.9	73.6	89.3	71.9	58.0
Operating Profit	196.0	98.1	157.9	204.9	63.6	95.9	-26.5	143.2	167.0	107.3	123.5	63.3
Other Income	3.5	7.2	2.3	-0.5	11.2	4.0	0.9	4.4	1.1	4.4	6.7	2.9
Other Expenses	2.4	3.8	4.1	2.6	6.3	9.3	2.3	1.5	0.2	3.7	3.1	1.3
Other Profit	1.1	3.5	-1.8	-3.1	4.9	-5.3	-1.5	2.9	0.9	0.7	3.6	1.7
Profit Before Tax	197.1	101.6	156.2	201.8	68.5	90.7	-27.9	146.1	167.9	108.0	127.1	64.9
Current Income Tax Expense	33.7	44.1	29.2	24.3	13.5	38.6	-1.9	30.4	26.6	24.6	24.5	15.8
Deferred Income Tax Expense	0.9	-4.5	1.5	5.7	-0.6	-2.0	-0.3	6.9	-2.5	-8.8	-1.0	-1.7
Net Income	162.6	62.0	125.4	171.8	55.5	54.0	-25.7	108.8	143.9	92.2	103.5	50.8
Non-controlling Interest	8.9	-16.4	7.9	50.4	10.3	-15.4	-47.5	-10.6	9.2	-1.6	4.5	7.8
Profit Attributable to Parent	153.7	78.4	117.6	121.3	45.2	69.4	21.8	119.4	134.7	93.8	99.0	43.0
Earnings per Share	390.28	199.19	298.56	317.44	118.34	181.65	57.03	312.32	352.38	245.30	259.11	112.40
Diluted EPS	390.28	199.19	298.56	317.44	118.34	181.65	57.03	312.32	352.38	245.30	259.11	112.40

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)	4,335.8	4,532.8	4,377.0	4,542.2	4,794.0	6,441.9	6,956.7	6,152.8	5,504.7	5,688.3	5,858.7	5,568.0
I. Cash and cash equivalents	1,402.5	1,617.7	1,741.4	1,706.4	2,106.1	2,419.5	1,945.5	2,188.1	2,017.4	2,435.1	1,689.7	1,367.5
1. Cash	1,052.7	1,182.9	1,190.6	1,401.9	1,186.7	1,652.1	1,371.1	1,798.6	1,179.2	1,298.8	530.4	835.2
2. Cash equivalents	349.8	434.8	550.8	304.5	919.4	767.5	574.5	389.5	838.1	1,136.3	1,159.3	532.3
II. Short-term financial investments	481.5	234.4	186.4	229.4	166.2	718.6	1,346.7	1,318.4	197.5	1,079.6	1,391.4	1,506.6
1. Available for sale securities	4.1	—	—	—	—	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	477.4	234.4	186.4	229.4	166.2	718.6	1,346.7	1,318.4	197.5	1,079.6	1,391.4	1,506.6
III. Short-term receivables	1,404.4	1,504.7	1,531.3	1,492.9	1,551.5	1,751.2	2,303.2	1,615.8	2,530.4	1,232.5	1,922.5	1,380.4
1. Short-term trade accounts receivable	797.2	703.5	841.5	826.3	712.6	1,205.6	1,206.7	775.5	938.1	712.7	1,189.0	876.9
2. Short-term prepayments to suppliers	555.1	400.0	486.4	577.1	757.8	558.7	740.0	685.5	698.8	343.9	317.8	329.6
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	—	313.1	186.0	20.0	1.5	1.5	290.3	106.7	759.3	63.1	296.5	59.9
6. Other short-term receivables	67.0	104.3	42.7	82.8	84.2	78.6	96.7	78.3	159.3	137.8	129.3	125.0
7. Provision for short-term doubtful debts (*)	-14.9	-16.1	-25.3	-13.3	-4.7	-93.2	-30.6	-30.2	-25.1	-25.0	-10.2	-11.0
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	813.7	943.5	757.3	958.9	827.5	1,352.4	1,138.8	858.8	604.3	760.8	690.5	1,091.1
1. Inventories	814.7	944.5	757.3	958.9	827.6	1,354.1	1,139.1	859.8	605.6	762.5	704.1	1,114.0
2. Provision for decline in value of inventories	-1.0	-1.0	—	—	-0.1	-1.7	-0.3	-1.0	-1.4	-1.7	-13.6	-22.9
V. Other short-term assets	233.7	232.6	160.7	154.5	142.6	200.0	222.5	171.7	155.2	180.4	164.6	222.4
1. Short-term prepayments	27.9	18.7	21.5	25.4	30.4	24.2	30.6	16.6	21.1	13.1	15.9	18.3
2. Value added tax to be reclaimed	204.9	213.8	139.1	128.9	111.9	175.2	188.7	155.0	133.1	164.3	145.7	200.9
3. Taxes and other receivables from state authorities	0.9	0.1	0.1	0.2	0.4	0.6	3.2	0.1	1.0	2.9	3.0	3.2
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)	8,666.8	8,358.8	7,864.7	7,641.1	7,390.8	7,306.0	6,075.5	6,066.3	6,181.9	5,846.6	5,751.6	5,663.8
I. Long-term receivables	20.0	358.2	363.2	334.4	389.4	445.6	377.9	353.7	405.5	84.4	153.2	133.4
1. Long-term trade receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	2.1	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	—	299.0	299.0	299.0	358.5	358.5	358.5	343.3	398.9	77.2	143.3	111.9
6. Other long-term receivables	20.0	59.2	53.8	35.4	30.9	24.8	19.4	10.4	6.6	5.1	9.9	21.5
7. Provision for long-term doubtful debts	—	—	10.4	—	—	62.3	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	2,767.8	2,781.8	2,787.1	2,811.0	2,761.5	3,037.3	2,717.5	1,916.0	1,964.6	1,946.9	1,998.5	2,062.7
1. Tangible fixed assets	2,611.4	2,620.6	2,621.4	2,639.7	2,576.4	2,836.5	2,510.9	1,772.6	1,817.9	1,855.6	1,906.8	1,969.9
- Cost	4,883.9	—	—	—	—	5,028.0	4,642.4	3,847.0	3,844.4	3,815.7	3,800.1	3,797.3
- Accumulated depreciation	-2,272.5	—	—	—	—	-2,191.5	-2,131.5	-2,074.4	-2,026.4	-1,960.1	-1,893.3	-1,827.4
2. Financial leased fixed assets	31.7	32.7	33.6	35.6	55.3	56.8	58.3	0.0	0.0	0.0	0.0	0.0
- Cost	37.4	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-5.7	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	124.8	128.6	132.2	135.7	129.9	143.9	148.2	143.4	146.6	91.3	91.7	92.8
- Cost	158.2	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-33.5	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	1,253.1	1,270.4	1,285.6	1,272.8	1,288.4	1,304.0	1,324.9	1,340.4	1,358.6	1,317.4	468.8	477.4
- Cost	1,541.7	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-288.6	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	2,703.3	2,384.1	1,812.4	1,582.6	1,594.4	1,191.9	426.1	279.3	220.3	296.5	985.6	792.8
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	2,703.3	2,384.1	1,812.4	1,582.6	1,594.4	1,191.9	426.1	279.3	220.3	296.5	985.6	792.8
V. Long-term financial investments	876.2	496.0	490.7	520.2	560.7	254.7	273.9	1,295.5	1,353.1	1,328.0	1,318.0	1,306.0
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	503.2	465.5	460.3	489.7	530.2	224.3	223.9	1,295.5	1,353.1	1,328.0	1,318.0	1,306.0
3. Investments in other entities	32.5	30.5	30.5	30.5	30.5	30.4	50.0	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	340.5	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VI. Other long-term assets	1,046.3	1,068.3	1,125.7	1,120.1	796.4	1,072.6	955.2	881.4	833.6	816.2	768.6	830.8
1. Long-term prepayments	918.6	931.7	983.5	968.5	633.5	902.8	897.9	823.3	816.7	801.1	762.2	825.5
2. Deferred income tax assets	10.6	11.5	9.3	10.8	14.4	13.3	14.0	13.4	16.9	15.1	6.4	5.3
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	117.2	125.0	132.9	140.7	148.6	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	—	—	—	—	156.4	43.2	44.7	46.3	57.2	59.0	60.7
TOTAL ASSETS (280=100+200)	13,002.6	12,891.6	12,241.7	12,183.3	12,184.8	13,747.9	13,032.2	12,219.1	11,686.6	11,535.0	11,610.3	11,231.8
A. LIABILITIES (300=210+330)	6,770.8	6,812.4	6,223.9	6,278.7	6,147.5	7,512.7	6,955.7	6,085.8	5,623.0	5,614.7	5,162.5	4,886.6
I. Short -term liabilities	3,156.9	3,279.8	3,110.7	3,154.3	3,056.9	4,026.7	4,136.4	3,567.1	3,411.1	3,746.9	3,206.3	3,597.3
1. Short-term trade accounts payable	609.7	587.6	513.1	580.3	484.2	852.9	701.3	513.4	547.7	499.5	565.3	678.5
2. Short-term advances from customers	160.1	132.1	126.9	141.1	121.6	135.1	151.3	154.6	115.4	144.7	118.5	267.4
3. Dividends and profits payable	0.2	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	44.6	101.2	66.4	41.7	13.0	89.2	54.2	42.1	30.6	18.6	52.1	27.5
4. Payable to employees	64.5	61.6	56.7	58.1	56.5	67.4	58.2	35.3	34.5	34.5	32.9	30.4
5. Short-term acrrued expenses	29.9	97.4	59.6	59.4	37.5	92.5	110.4	88.9	106.9	132.7	38.7	28.6
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	155.1	169.2	115.5	120.5	97.2	111.5	117.6	127.3	106.7	116.2	72.0	84.2
9. Other short-term payables	146.0	180.6	281.4	245.6	174.1	170.3	90.0	89.3	84.4	167.4	257.8	359.8
10. Short-term borrowings and financial leases	1,904.0	1,901.2	1,837.6	1,857.1	2,043.9	2,463.9	2,801.6	2,489.9	2,382.6	2,625.5	2,055.5	2,104.0
11. Provision for short-term liabilities	—	—	—	—	—	4.3	4.4	0.0	0.0	4.2	5.0	5.2
12.. Bonus and welfare fund	42.9	49.0	53.5	50.5	29.0	39.7	47.4	26.4	2.3	3.5	8.5	11.7
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	3,613.9	3,532.6	3,113.1	3,124.4	3,090.6	3,486.0	2,819.3	2,518.6	2,211.9	1,867.8	1,956.2	1,289.3
1. Long-term trade payables	—	—	—	—	—	0.0	0.0	0.0	0.0	2.1	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	14.4	12.0
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	2,467.3	2,382.9	2,060.3	2,052.5	1,718.5	2,039.5	2,020.7	1,925.6	1,856.9	1,498.2	833.9	124.7
7. Other long-term liabilities	3.7	3.7	3.7	3.7	3.7	3.9	3.9	5.5	8.8	8.8	8.8	8.8
8. Long-term borrowings and financial leases	1,127.1	1,129.9	1,030.8	1,049.1	1,351.9	1,430.6	780.0	567.7	329.6	358.7	1,099.1	1,143.8
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	11.5	11.8	14.0	14.1	11.9	11.9	14.6	15.5	12.1	0.0	0.0	0.0
12. Provision for long-term liabilities	4.3	4.3	4.3	5.0	4.6	0.0	0.0	4.4	4.4	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)	6,231.8	6,079.2	6,017.9	5,904.6	6,037.3	6,235.2	6,076.5	6,133.3	6,063.6	5,920.3	6,447.8	6,345.2
I. Owner's equity	6,231.8	6,079.2	6,017.9	5,904.6	6,037.3	6,235.2	6,076.5	6,133.3	6,063.6	5,920.3	6,447.8	6,345.2
1. Owner's capital	3,937.4	3,937.4	3,937.4	3,822.7	3,822.7	3,822.7	3,822.7	3,822.7	3,822.7	3,822.7	3,822.7	3,822.7
- Common stock with voting right	3,937,427,300,000.00	3,937,427,300,000.00	3,937,427,300,000.00	3,822,744,960,000.00	3,822,744,960,000.00	3,822,744,960,000.00	3,822,744,960,000.00	3,822,744,960,000.00	3,822,744,960,000.00	3,822,744,960,000.00	3,822,744,960,000.00	3,822,744,960,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	823.9	823.9	823.9	823.9	823.9	823.9	823.9	823.9	823.9	823.9	823.9	823.9
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	18.8	18.8	18.8	18.8	18.8	18.8	18.8	18.8	18.8	18.8	18.8	18.8
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	44.4	42.9	42.8	40.4	34.7	35.4	25.2	36.0	24.5	24.0	22.8	18.0
8. Investment and development fund	80.5	80.5	80.5	80.5	80.5	80.5	80.5	80.5	80.5	80.5	80.5	80.5
9. Fund to support corporate restructuring	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	13.2	13.2	13.2	13.2	13.2	13.2	13.2	13.2	13.2	13.2	13.2	13.2
11. Undistributed earnings after tax	696.0	551.7	471.4	449.8	594.1	529.2	269.8	765.7	693.5	565.9	893.7	797.8
- Accumulated retained earning at the end of the previous period	542.4	255.4	254.0	482.8	535.3	514.7	78.0	513.5	560.8	275.0	700.9	700.9
- Undistributed earnings in this period	153.7	296.3	217.4	-32.9	58.8	14.6	191.9	252.2	132.7	290.9	192.8	96.9
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	617.6	610.8	630.0	655.3	649.4	911.4	1,022.4	572.5	586.5	571.4	772.2	770.4
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)	13,002.6	12,891.6	12,241.7	12,183.3	12,184.8	13,747.9	13,032.2	12,219.1	11,686.6	11,535.0	11,610.3	11,231.8

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Profit Before Tax	197.1	101.6	156.2	211.0	68.5	90.7	-27.9	177.2	167.9	107.6	127.1	64.0
Depreciation of Fixed Assets and Investment Property	120.2	125.3	123.5	124.2	131.7	133.3	81.8	86.5	91.3	89.2	82.9	79.9
Provision (Increase)/Reversal	-1.2	3.7	0.0	-0.1	-1.0	1.3	0.1	3.9	-0.4	0.5	-10.1	4.5
FX Gain/Loss from Revaluation of Monetary Items	4.6	0.7	22.0	-28.9	-0.8	5.5	21.6	-19.4	0.0	-12.5	-7.8	7.8
Gain/Loss from Investment Activities	-55.9	-29.2	-32.1	-73.1	83.8	0.6	-28.8	-44.4	-60.9	-81.6	-51.7	-53.3
Interest Expense	33.3	38.0	25.9	46.3	40.4	51.7	36.4	42.4	37.4	66.3	48.7	48.7
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	298.2	240.1	295.5	279.4	322.5	283.1	83.3	246.3	235.4	169.5	189.0	151.6
Increase/(Decrease) in Receivables	-75.2	115.8	-132.4	-82.3	-409.6	105.1	-269.8	357.6	-465.7	578.8	-242.7	399.4
Increase/(Decrease) in Inventory	129.7	-187.2	229.9	-159.6	133.9	-189.9	69.1	-286.2	177.7	-82.8	705.0	-393.9
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-12.9	292.7	34.4	305.3	42.0	298.4	147.0	68.5	308.3	620.7	297.0	15.9
Increase/(Decrease) in Prepaid Expenses	-68.0	-21.3	-8.1	-17.4	-19.2	-208.7	1.3	7.9	-27.8	-43.8	3.7	0.1
Changes in Trading Securities	-4.1	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-29.6	-29.6	-29.5	-22.5	-52.0	-64.4	-28.7	-49.1	-36.8	-51.9	-36.1	-61.9
Corporate Income Tax Paid	-92.9	-15.0	-1.9	-7.8	-77.5	-2.8	-0.7	-18.1	-10.4	-56.1	-0.7	-0.4
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-16.0	-4.5	-8.0	-20.0	-8.4	-7.6	-5.7	-19.1	-3.4	-5.0	-3.2	-6.0
Net Cash Flow from Operating Activities	129.2	391.0	379.9	275.1	-68.3	213.3	-4.2	307.7	177.3	1,129.4	911.9	104.7
Payments for Fixed Assets and Other Long-term Assets	-436.5	-563.8	-193.7	-2.2	-665.5	-287.7	-156.9	-161.9	-232.3	-247.4	-375.9	-5.2
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.3	1.0	7.1	0.9	1.0	1.1	1.7	19.8	0.5	-0.9	1.2	5.7
Loans and Purchases of Debt Instruments	-352.2	-560.5	-166.0	-96.4	-215.7	202.8	-330.7	-1,046.8	-1,199.1	-42.7	-512.4	-632.3
Receipts from Loan Repayments and Sale of Debt Instruments	431.1	385.4	43.0	77.0	632.8	1,071.6	199.3	638.1	1,063.0	654.2	359.7	291.5
Investments in Other Entities	-2.1	—	—	—	—	-829.3	-81.9	0.0	-33.1	-621.5	-4.7	-46.9
Proceeds from Investments in Other Entities	—	0.0	0.0	26.0	-205.9	1.0	0.2	0.0	10.0	1.7	0.0	0.0
Dividends and Interest Income Received	10.9	15.2	9.6	19.6	43.9	48.4	4.1	34.3	80.7	57.5	23.1	42.4
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	-348.5	-722.7	-299.9	-73.1	-409.4	207.9	-364.2	-516.6	-310.2	-199.0	-509.1	-344.9
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	1,215.4	1,118.3	947.5	1,067.8	1,744.0	2,245.8	1,841.3	1,711.5	1,211.6	1,542.3	1,796.9	1,520.4
Repayment of Borrowings	-1,214.0	-948.3	-980.4	-1,579.4	-1,576.1	-2,199.8	-1,676.2	-1,374.3	-1,485.5	-1,728.8	-1,882.1	-1,747.0
Repayment of Finance Leases	-2.1	-2.0	-2.1	-4.5	-3.5	-3.5	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	-0.2	0.0	0.0	-114.7	-0.1	0.0	0.0	0.0	-10.5	-0.0	0.0	-0.1
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	-0.9	204.5	-25.1	-630.8	164.4	42.5	165.1	337.2	-284.4	-186.5	-85.2	-226.7
Net Cash Flow During the Period	-220.1	-127.1	54.9	-428.8	-313.3	463.8	-203.3	128.3	-417.3	743.9	317.7	-466.9
Cash and Cash Equivalents at Beginning of Period	1,620.0	1,741.4	1,706.4	2,106.1	2,419.5	2,435.1	2,435.1	2,435.1	2,435.1	1,643.0	1,643.0	1,643.0
FX Difference from Revaluation	2.6	12.5	9.0	29.0	-0.1	10.2	-39.3	42.4	-0.4	1.5	4.5	7.3
Cash and Cash Equivalents at End of Period	1,402.5	1,617.7	1,741.4	1,706.4	2,106.1	2,419.5	1,945.5	2,188.1	2,017.4	2,435.1	1,689.7	1,367.5

Explore Other Stocks In The Same Sector

GVR, DGC, NTP, RTB, PHR, APH, PAT, DPR, TRC, CSV, DRG, DRI, BRR, HPP, PRT, NHH, HVT, ADP, HII, VTZ, TNC, SBR, HRC, SIV, PLP, HDA, HSP, PBT, PCH, IRC, VNP, ECO, SFN, HNP, SDN, VTQ, DMS, DPC, PGN, PCM, DVG, VHG, NSG, KTT, BQP, NHP

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

AAA

What Is Changing

Drivers of AAA'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