ACG

Gỗ An Cường ·HOSE ·2026Q1

▲ Showing improvement

Price

33,950

Latest close

01 Jun 2026

P/E 9.83x

P/B 1.09x

EPS 3,453

BVPS 31,040

ROE 11.9%

ROA 8.4%

Profit Margin 10.8%

Asset Turnover 0.78x

Equity Mult. 1.42x

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

What Is Changing

On a TTM 2026Q1 basis, ACG is growing strongly on the back of scale expansion, while margins have only improved slightly — earnings have been recovering gradually over multiple periods. However, operating cash flow is significantly negative relative to profit — this needs monitoring in coming periods.

	                            
	                                TTM REVENUE
	                            
	                                    VND 4,917bn
	                                
+20.3%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 530bn
	                                
+25.0%YoY

	                            
	                                CFO / Net Income
	                            
	                                    -0.57x
	                                
negative cash flow vs profit

Metric	2025	2024	2023	2022	2021
Revenue	4,608.7	3,980.9	3,762.1	4,475.5	3,293.5
Growth	+16%	+6%	-16%	+36%	—
Net Income	503.7	420.0	436.7	615.6	451.3
Net Margin	10.93%	10.55%	11.61%	13.75%	13.70%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	1,109.9	1,668.1	1,177.5	961.1	802.0	1,216.2	1,043.8	1,025.9	695.0	1,151.4	962.6	968.2
Growth	-33%	+42%	+23%	+20%	-34%	+17%	+2%	+48%	-40%	+20%	-1%	—
Net Income	111.1	145.5	135.3	137.9	85.0	90.1	130.4	118.1	81.4	162.0	129.9	108.5
Net Margin	10.01%	8.73%	11.49%	14.35%	10.60%	7.41%	12.49%	11.52%	11.72%	14.07%	13.49%	11.21%

Drivers of ACG's profit

TTM

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

Gross profit ↑ 145.1bn

Other profit ↑ 62.6bn

Financial income ↑ 35.2bn

Selling expenses ↑ 83.7bn

Tax ↑ 28.0bn

Deferred tax ↑ 19.1bn

TTM

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

Gross profit ↑ 72.9bn

Financial income ↑ 5.1bn

Administrative expenses ↑ 20.7bn

Selling expenses ↑ 19.8bn

Tax ↑ 6.7bn

Finance costs ↑ 3.4bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 10.0% = 10.4% × 0.71 × 1.35

2026Q1 11.9% = 10.8% × 0.78 × 1.42

ROE rose from 10.0% to 11.9% — all three components improved, with leverage contributing the most.

Net margin: 10.8% +0.4pp Asset turnover: 0.78x +0.06x Leverage: 1.42x +0.07x

Is the profit sustainable?

Accounting profit is positive but operating cash flow has not caught up — needs more time to confirm.

very positive positive stable watch under pressure

What is driving the margin?

Net margin edged up to 10.78%, rising 0.4pp. Core operating signals are improving as SG&A / Revenue fell 1.8pp are enough to offset pressure from Gross margin fell 2.3pp (in addition, Other profit / Revenue rose 1.5pp added support while Net financial result / Revenue fell 0.0pp remained a drag).

Margin improves from both core operations and non-core items — the core foundation is positive, but the sustainability of non-core contributions needs monitoring.

Profitability trend

Net Margin 10.78% +0.4pp

Gross Margin 28.85% −2.3pp

SG&A / Revenue 18.04% −1.8pp

TTM YoY · 2025Q1 -> 2026Q1

Is capital being used efficiently?

Evaluate capital, asset, and working-capital efficiency.

Is capital being deployed efficiently?

ROIC edged up to 9.80%, rising 0.6pp. That translates to 9.80 in after-tax operating profit for every 100 units of operating capital. capital turnover rose 0.12x was enough to offset the contraction in NOPAT margin narrowed 0.8pp, with invested capital easing up by 245bn.

Capital efficiency improved through turnover — a positive sign for asset efficiency, but this momentum needs to hold as capital expands.

CAPITAL EFFICIENCY TREND

ROIC 9.80% +0.6pp

NOPAT Margin 10.62% −0.8pp

Capital Turnover 0.92x +0.12x

Average Invested Capital 5,325.0bn +244.7bn

Balance Sheet

Capital structure is conservative with low leverage — liabilities at 0.58x equity, net debt at 0.21x equity.

Inventory ended the period at 1,543.8bn, roughly 22.1% of total assets.

Over the last 12 months, working capital absorbed 205.0bn of cash, mainly because of higher receivables and higher inventories. Part of that drag was offset by higher payables.

Working Capital Drivers

Receivables increased → lower CFO: −375.1bn

Inventories increased → lower CFO: −341.0bn

Payables increased → higher CFO: +511.1bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 38.0 days versus the same period last year. The main moves came from DIO fell 20.2 days, DSO fell 5.1 days, and DPO rose 12.7 days.

All 3 drivers (collection, inventory, payables) are improving — working capital turnover is strengthening across the board.

Watchpoints

Cash conversion cycle remains stretched

CCC stands at 134.9 days, suggesting that working capital remains tied up for a relatively long operating cycle.

Working Capital Efficiency

Receivables 47.0 days −5.1 days

Inventory 139.2 days −20.2 days

Payables 51.3 days +12.7 days

Cash Conversion Cycle 134.9 days −38.0 days

Is financial risk significant?

Leverage is safe but FCF is negative at 733.1bn due to capex of 429.5bn — an investment choice, not an urgent risk.

Leverage & Liquidity

Leverage looks fairly comfortable, with net debt / equity at 0.21x and interest coverage at 13.99x.

At present, short-term debt accounts for 82.8% of total debt, cash equals 18.2% of debt, and total debt stands at 1,205.1bn.

Watchpoints

Short-term refinancing pressure is meaningful

Short-term debt accounts for 82.8% of total debt, raising near-term refinancing needs.

Cash buffer is thin relative to debt

Cash / debt stands at 18.2%, leaving limited liquidity buffer to monitor.

Leverage and liquidity trend

Net Debt / Equity 0.21x +0.04x

Interest Coverage 13.99x −2.38x

Cash / Debt 18.2% +0.1pp

Short-term Debt / Total Debt 82.8% −17.2pp

CFO / NI -0.57x −1.74x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

Operating cash flow reached -377.0bn in 2025, against investing cash flow of 306.0bn.

Post-investment cash flow was negative +71.0bn. Financing cash flow was positive +303.4bn.

CFO / net income was -0.57x.

After spending +429.5bn on fixed-asset investment, the business generated trailing free cash flow of −733.1bn.

Cash Conversion

CFO TTM 303.6bn −798.8bn

Cash Capex 429.5bn +382.5bn

FCF TTM −733.1bn −1,181.2bn

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 next item to monitor is the earnings mix, when non-core contribution is 20.8%. The main risk still sits in working capital is tied up too long in the operating cycle, with CCC extended to 135 days.

Watchpoint: the earnings mix still needs monitoring, with net financial result still accounting for 20.8% of PBT and CFO / net income currently at -0.57x.

Key risk: working capital remains tied up for too long, with cash cycle at 134.9 days.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	4,648.0	4,025.4	3,778.7	4,509.7	3,313.0
Revenue Deductions	39.3	44.5	16.6	34.2	0.0
Net Revenue	4,608.7	3,980.9	3,762.1	4,475.5	3,293.5
Cost of Goods Sold	3,263.4	2,729.5	2,654.5	3,137.6	0.0
Gross Profit	1,345.3	1,251.4	1,107.6	1,337.8	895.9
Financial Income	185.6	163.4	159.6	175.3	154.1
Financial Expenses	44.8	36.2	45.3	56.9	-24.2
Interest Expense	35.5	27.6	38.8	31.9	-21.5
Share of Associates and Joint Ventures	1.3	0.2	1.8	8.0	-0.0
Selling Expenses	564.6	493.9	522.4	547.9	-383.8
General and Administrative Expenses	282.0	310.3	172.4	167.9	-100.1
Operating Profit	640.9	574.7	528.9	748.5	541.9
Other Income	11.7	4.9	15.1	5.0	0.0
Other Expenses	3.7	55.8	3.8	1.6	0.0
Other Profit	8.1	-51.0	11.3	3.4	4.5
Profit Before Tax	648.9	523.7	540.1	751.9	546.4
Current Income Tax Expense	161.1	133.1	105.1	137.4	-95.1
Deferred Income Tax Expense	-16.0	-29.4	-1.7	-1.0	0.0
Net Income	503.7	420.0	436.7	615.6	451.3
Non-controlling Interest	-0.2	0.0	-0.0	0.0	-0.0
Profit Attributable to Parent	504.0	420.0	436.7	615.6	451.3
Earnings per Share	3,342.00	2,785.00	2,896.00	4,577.00	2,951.00
Diluted EPS	3,342.00	2,785.00	2,896.00	4,577.00	5,148.63

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	5,150.1	4,119.8	4,131.5	3,839.5	3,650.8
I. Cash and cash equivalents	387.7	155.3	66.9	387.9	99.2
1. Cash	87.7	155.3	66.9	70.9	0.0
2. Cash equivalents	300.0	0.0	0.0	317.0	0.0
II. Short-term financial investments	1,764.9	2,048.3	1,834.5	1,049.0	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	1,764.9	2,048.3	1,834.5	1,049.0	0.0
III. Short-term receivables	1,347.7	931.8	1,078.7	888.1	618.6
1. Short-term trade accounts receivable	701.7	667.2	723.8	654.3	0.0
2. Short-term prepayments to suppliers	292.1	31.2	19.0	43.0	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	457.6	257.9	115.6	2.0	0.0
6. Other short-term receivables	187.9	177.8	277.1	219.9	0.0
7. Provision for short-term doubtful debts (*)	-293.1	-202.5	-57.1	-31.8	0.0
8. Assets awaiting resolution	1.6	0.2	0.4	0.7	0.0
IV. Inventories	1,543.8	967.6	1,134.5	1,466.9	1,380.3
1. Inventories	1,592.0	1,002.4	1,170.5	1,491.6	0.0
2. Provision for decline in value of inventories	-48.2	-34.7	-36.0	-24.7	0.0
V. Other short-term assets	106.0	16.7	16.9	47.7	24.9
1. Short-term prepayments	14.5	14.4	14.9	45.0	0.0
2. Value added tax to be reclaimed	90.4	2.2	1.8	1.3	0.0
3. Taxes and other receivables from state authorities	1.1	0.1	0.2	1.3	0.0
4. Government bonds	—	0.0	0.0	0.0	0.0
5. Other short-term assets	—	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	1,821.9	1,519.9	1,390.6	1,627.8	1,332.1
I. Long-term receivables	164.0	145.7	164.9	366.9	0.0
1. Long-term trade receivables	1.5	3.8	0.0	0.0	322.3
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	142.5	0.0	0.0
6. Other long-term receivables	162.5	141.8	22.4	366.9	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	320.9	374.3	405.0	439.1	534.8
1. Tangible fixed assets	287.5	347.3	393.2	425.9	518.2
- Cost	1,071.3	1,113.0	1,072.4	1,026.3	0.0
- Accumulated depreciation	-783.7	-765.7	-679.3	-600.5	0.0
2. Financial leased fixed assets	5.2	0.0	0.0	0.0	0.0
- Cost	5.2	0.0	0.0	0.0	0.0
- Accumulated depreciation	-0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	28.2	27.0	11.8	13.3	16.6
- Cost	62.4	56.0	34.5	32.6	0.0
- Accumulated depreciation	-34.1	-29.0	-22.7	-19.3	0.0
III. Investment properties	13.2	0.0	0.0	0.0	0.0
- Cost	13.3	0.0	0.0	0.0	0.0
- Accumulated depreciation	-0.2	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	32.9	3.0	21.5	4.6	1.4
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	32.9	3.0	21.5	4.6	0.0
V. Long-term financial investments	465.7	780.3	601.1	615.8	275.2
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	346.5	406.1	405.9	401.6	0.0
3. Investments in other entities	119.2	119.2	119.2	119.2	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	—	255.0	76.0	95.0	0.0
6. Other long-term investments	—	0.0	0.0	0.0	0.0
VI. Other long-term assets	825.2	216.5	198.0	201.3	0.0
1. Long-term prepayments	768.9	176.1	187.0	192.0	0.0
2. Deferred income tax assets	56.4	40.4	11.0	9.3	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	198.4
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)	6,972.0	5,639.6	5,522.1	5,467.2	4,982.9
A. LIABILITIES (300=210+330)	2,563.0	1,463.6	1,348.5	1,555.0	1,206.1
I. Short -term liabilities	2,356.0	1,450.8	1,333.5	1,542.3	1,196.6
1. Short-term trade accounts payable	686.2	318.3	263.3	347.5	289.2
2. Short-term advances from customers	147.9	135.7	174.5	161.0	206.0
3. Taxes and other payables to state authorities	85.3	76.2	66.4	122.1	0.0
4. Payable to employees	98.2	82.0	73.0	23.0	0.0
5. Short-term acrrued expenses	38.1	30.6	22.4	30.6	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	1.8	1.1	1.4	1.6	1.1
9. Other short-term payables	2.2	3.0	2.3	3.8	0.0
10. Short-term borrowings and financial leases	1,209.0	728.0	706.6	813.7	567.0
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	87.3	75.9	23.7	39.0	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	207.0	12.8	15.0	12.7	9.5
1. Long-term trade payables	133.2	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	4.8	0.0	0.8	1.9	3.0
7. Other long-term liabilities	—	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	56.0	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	—	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	12.9	12.8	14.3	10.8	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)	4,409.0	4,176.0	4,173.6	3,912.2	3,776.8
I. Owner's equity	4,409.0	4,176.0	4,173.6	3,912.2	0.0
1. Owner's capital	1,507.9	1,507.9	1,507.9	1,358.5	3,776.8
- Common stock with voting right	1,507,879,460,000.00	1,507,879,460,000.00	1,507,879,460,000.00	1,358,461,220,000.00	876,503,440,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	1,418.7	1,418.7	1,418.7	1,419.3	1,419.3
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	-653,230,147.00	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	21.0	0.0	35.5	0.0	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	1,387.6	1,249.4	1,211.4	1,135.1	1,456.5
- Accumulated retained earning at the end of the previous period	883.6	829.4	774.7	519.5	1,034.5
- Undistributed earnings in this period	504.0	420.0	436.7	615.6	422.0
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	73.9	0.0	0.0	0.0	0.0
14. Financial reserves	—	0.0	0.0	0.0	0.0
II. Other resources and funds	—	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	6,972.0	5,639.6	5,522.1	5,467.2	4,982.9

Item	2025	2024	2023	2022	2021
Profit Before Tax	648.9	523.7	540.1	751.9	546.4
Depreciation of Fixed Assets and Investment Property	92.3	101.1	104.1	110.5	114.7
Provision (Increase)/Reversal	104.3	142.6	41.6	12.4	0.0
FX Gain/Loss from Revaluation of Monetary Items	-0.1	0.3	-0.0	-2.7	0.0
Gain/Loss from Investment Activities	-177.4	-146.7	-142.3	-157.1	0.0
Interest Expense	35.5	27.6	38.8	31.9	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	703.5	648.6	582.3	746.9	566.9
Increase/(Decrease) in Receivables	-215.8	46.9	-7.7	-122.4	0.0
Increase/(Decrease) in Inventory	-589.6	168.1	321.0	-81.7	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	526.0	-3.3	-24.0	-16.5	0.0
Increase/(Decrease) in Prepaid Expenses	-588.0	17.5	35.0	-24.9	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-33.2	-27.6	-38.4	-31.9	0.0
Corporate Income Tax Paid	-147.9	-178.9	-167.0	-60.7	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-31.9	-26.9	-87.4	-20.5	0.0
Net Cash Flow from Operating Activities	-377.0	644.5	613.9	388.4	154.7
Payments for Fixed Assets and Other Long-term Assets	-225.7	-70.6	-84.1	-18.4	-13.1
Proceeds from Disposal of Fixed Assets and Long-term Assets	1.1	1.2	1.7	0.1	0.0
Loans and Purchases of Debt Instruments	-1,869.5	-2,282.5	-2,012.5	-1,383.2	-1,858.4
Receipts from Loan Repayments and Sale of Debt Instruments	2,208.3	1,889.7	1,275.0	1,498.0	1,569.5
Investments in Other Entities	—	0.0	-2.4	-126.6	-119.2
Proceeds from Investments in Other Entities	96.8	0.0	10.2	0.0	0.0
Dividends and Interest Income Received	95.0	125.9	89.7	102.7	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	306.0	-336.3	-722.4	72.6	-292.1
Proceeds from Equity Issuance and Capital Contributions	74,100,000,000.00	0.00	9,896,000,000.00	43,748,200,000.00	30,225,593,500.00
Share Repurchases	—	0.00	-9,800,000,000.00	0.00	-65,000,000.00
Proceeds from Borrowings	3,534.2	2,275.5	2,074.9	2,398.0	2,717.8
Repayment of Borrowings	-3,002.8	-2,254.0	-2,182.0	-2,149.5	-2,459.7
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-302.1	-241.1	-105.5	-464.7	-104.8
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	303.4	-219.7	-212.5	-172.4	183.4
Net Cash Flow During the Period	232.4	88.4	-321.0	288.6	82.2
Cash and Cash Equivalents at Beginning of Period	155.3	66.9	387.9	99.2	53.2
FX Difference from Revaluation	-0.0	0.0	0.1	0.1	-0.1
Cash and Cash Equivalents at End of Period	387.7	155.3	66.9	387.9	99.2

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	1,119.8	1,685.3	1,187.1	967.7	807.9	1,235.6	1,054.6	1,032.2	702.9	1,156.6	964.2	973.4
Revenue Deductions	9.9	17.2	9.6	6.7	5.8	19.4	10.8	6.4	8.0	5.2	1.6	5.2
Net Revenue	1,109.9	1,668.1	1,177.5	961.1	802.0	1,216.2	1,043.8	1,025.9	695.0	1,151.4	962.6	968.2
Cost of Goods Sold	801.3	1,183.6	842.1	671.4	566.3	839.8	716.1	692.5	481.0	812.6	664.3	688.6
Gross Profit	308.7	484.5	335.3	289.7	235.7	376.4	327.7	333.3	214.0	338.9	298.3	279.6
Financial Income	42.9	38.6	35.1	74.0	37.8	33.6	40.1	44.1	45.7	49.2	32.5	37.5
Financial Expenses	12.7	14.6	7.1	13.7	9.3	8.3	6.6	11.5	9.8	7.6	8.7	13.0
Interest Expense	11.7	12.6	-7.4	9.3	6.2	5.8	5.1	8.7	8.0	6.0	7.0	12.8
Share of Associates and Joint Ventures	-0.3	-0.3	1.4	0.3	—	0.1	0.0	0.1	0.0	0.0	0.0	0.0
Selling Expenses	138.3	174.2	139.9	132.0	118.5	139.1	133.5	109.6	111.5	134.8	123.2	128.3
General and Administrative Expenses	57.9	148.2	54.5	42.0	37.2	163.6	71.3	36.4	38.9	51.5	37.2	47.2
Operating Profit	142.3	185.8	170.3	176.3	108.5	99.1	156.3	220.1	99.4	194.2	161.8	128.6
Other Income	2.5	2.1	4.7	3.4	1.4	0.5	1.3	1.7	1.9	4.1	1.9	4.9
Other Expenses	0.2	1.1	0.8	0.6	1.1	0.6	0.3	55.3	0.0	1.4	1.2	0.2
Other Profit	2.3	1.0	3.9	2.8	0.3	-0.1	1.0	-53.6	1.8	2.7	0.8	4.6
Profit Before Tax	144.6	186.9	174.2	179.1	108.8	99.0	157.2	166.4	101.2	196.9	162.5	133.3
Current Income Tax Expense	30.9	58.3	40.5	38.3	24.2	40.8	27.2	47.7	17.5	36.7	34.7	26.0
Deferred Income Tax Expense	2.7	-16.9	-1.6	2.9	-0.3	-31.9	-0.3	0.6	2.3	-1.8	-2.0	-1.2
Net Income	111.1	145.5	135.3	137.9	85.0	90.1	130.4	118.1	81.4	162.0	129.9	108.5
Non-controlling Interest	-0.8	-0.1	-0.1	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	111.9	145.7	135.4	137.9	85.0	90.1	130.4	118.1	81.4	162.0	129.9	108.5
Earnings per Share	742.00	898.00	898.00	915.00	564.00	598.00	865.00	783.00	540.00	1,074.00	861.00	799.00
Diluted EPS	742.00	898.00	898.00	915.00	564.00	2,786.00	865.00	783.00	540.00	1,074.00	861.00	720.00

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)	4,866.9	5,150.1	4,568.1	4,447.7	4,504.5	4,120.0	4,099.5	4,290.0	4,384.8	4,132.3	3,477.0	3,741.3
I. Cash and cash equivalents	219.6	387.7	38.9	30.5	159.5	155.3	73.7	141.9	31.2	66.9	92.9	61.0
1. Cash	89.6	87.7	38.9	30.5	159.5	155.3	73.7	141.9	30.2	66.9	45.9	52.0
2. Cash equivalents	130.0	300.0	—	—	—	0.0	0.0	0.0	1.0	0.0	47.0	9.0
II. Short-term financial investments	2,166.7	1,764.9	2,081.4	2,295.3	2,274.3	2,048.3	1,814.8	1,872.5	2,135.5	1,834.5	1,175.5	1,297.0
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	2,361.9	1,764.9	2,081.4	2,295.3	2,274.3	2,048.3	1,814.8	1,872.5	2,135.5	1,834.5	1,175.5	1,297.0
4. Provision for short-term investments held to maturity (*)	-195.2	—	—	—	—	—	—	—	—	—	—	—
III. Short-term receivables	918.1	1,347.7	1,083.2	897.5	908.5	932.0	1,151.8	1,123.2	933.3	1,079.5	875.0	960.1
1. Short-term trade accounts receivable	658.6	701.7	660.5	587.4	606.3	667.2	783.5	736.2	554.9	723.8	673.8	710.7
2. Short-term prepayments to suppliers	346.0	292.1	121.0	34.4	59.8	31.3	27.7	25.1	26.9	19.0	22.9	38.6
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	—	457.6	257.7	257.7	257.8	257.9	115.4	115.4	115.5	115.6	30.1	30.5
6. Other short-term receivables	9.8	187.9	249.5	215.8	184.4	177.8	311.5	308.7	292.9	277.9	198.5	226.8
7. Provision for short-term doubtful debts (*)	-97.9	-293.1	-206.8	-198.5	-200.4	-202.5	-87.0	-62.6	-57.3	-57.1	-51.0	-47.3
8. Assets awaiting resolution	1.5	1.6	1.2	0.6	0.6	0.2	0.6	0.4	0.5	0.4	0.7	0.8
IV. Inventories	1,456.6	1,543.8	1,287.6	1,173.4	1,118.5	967.6	1,037.9	1,128.4	1,256.2	1,134.5	1,309.2	1,397.3
1. Inventories	1,504.4	1,592.0	1,329.6	1,213.7	1,163.4	1,002.4	1,079.9	1,161.7	1,295.1	1,170.5	1,347.1	1,430.1
2. Provision for decline in value of inventories	-47.8	-48.2	-41.9	-40.3	-44.9	-34.7	-42.0	-33.3	-38.9	-36.0	-37.9	-32.8
V. Other short-term assets	105.8	106.0	77.0	50.9	43.7	16.7	21.3	23.9	28.5	16.9	24.5	25.9
1. Short-term prepayments	24.6	14.5	19.7	20.4	20.4	14.4	19.1	21.3	22.8	14.9	22.4	23.5
2. Value added tax to be reclaimed	80.7	90.4	56.5	29.6	22.7	2.2	2.1	2.0	5.5	1.8	1.8	2.0
3. Taxes and other receivables from state authorities	0.6	1.1	0.9	0.9	0.6	0.1	0.1	0.6	0.2	0.2	0.3	0.4
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)	2,036.8	1,821.9	1,413.1	1,180.2	1,250.7	1,519.9	1,444.0	1,309.8	1,315.5	1,389.8	1,645.2	1,496.5
I. Long-term receivables	168.8	164.0	144.5	142.8	142.8	145.7	187.1	186.6	177.6	164.2	363.6	360.4
1. Long-term trade receivables	1.1	1.5	1.5	0.0	0.7	3.8	4.9	9.9	6.4	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	142.5	142.5	142.5	142.5	256.5	256.5
6. Other long-term receivables	167.7	162.5	143.0	142.8	142.1	141.8	39.8	34.2	28.7	21.6	107.0	103.9
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	345.7	320.9	325.2	334.7	358.0	374.3	392.9	404.0	414.9	405.0	416.7	405.0
1. Tangible fixed assets	292.2	287.5	298.1	308.2	332.3	347.3	364.4	375.8	387.3	393.2	405.7	393.2
- Cost	1,095.0	—	—	—	—	1,113.0	1,110.4	1,099.6	1,090.6	1,072.4	1,067.6	1,040.6
- Accumulated depreciation	-802.8	—	—	—	—	-765.7	-746.0	-723.8	-703.3	-679.3	-661.9	-647.5
2. Financial leased fixed assets	26.1	5.2	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	26.6	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-0.5	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	27.4	28.2	27.1	26.5	25.7	27.0	28.5	28.1	27.7	11.8	11.0	11.9
- Cost	62.9	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-35.4	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	13.1	13.2	25.6	22.8	4.2	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	13.3	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-0.2	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	222.5	32.9	245.8	6.1	5.8	3.0	3.1	5.1	5.3	21.5	11.8	7.7
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	222.5	32.9	245.8	6.1	5.8	3.0	3.1	5.1	5.3	21.5	11.8	7.7
V. Long-term financial investments	465.4	465.7	466.0	464.6	525.3	780.3	673.2	525.2	525.1	601.1	655.1	525.1
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	346.2	346.5	346.8	345.4	406.1	406.1	406.0	406.0	405.9	405.9	405.9	405.9
3. Investments in other entities	119.2	119.2	119.2	119.2	119.2	119.2	119.2	119.2	119.2	119.2	119.2	119.2
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	—	—	—	—	—	255.0	148.0	0.0	0.0	76.0	130.0	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	821.3	825.2	206.0	209.2	214.5	216.5	187.6	188.9	192.6	198.0	198.0	198.3
1. Long-term prepayments	767.6	768.9	166.6	171.3	173.7	176.1	179.2	180.8	183.9	187.0	188.8	191.1
2. Deferred income tax assets	53.7	56.4	39.4	37.9	40.7	40.4	8.5	8.1	8.7	11.0	9.2	7.2
3. Long-term equipment, supplies, spare parts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other long-term assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Goodwill	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	6,903.7	6,972.0	5,981.2	5,627.9	5,755.2	5,639.8	5,543.6	5,599.8	5,700.3	5,522.1	5,122.3	5,237.8
A. LIABILITIES (300=210+330)	2,223.2	2,563.0	1,547.7	1,377.8	1,494.2	1,463.6	1,336.9	1,523.6	1,445.6	1,348.5	985.8	1,231.2
I. Short -term liabilities	1,993.0	2,489.2	1,535.1	1,367.3	1,480.7	1,450.8	1,325.3	1,508.5	1,429.7	1,333.5	971.3	1,220.2
1. Short-term trade accounts payable	655.7	819.4	460.7	266.7	326.7	318.3	269.5	255.3	268.4	263.3	236.4	214.0
2. Short-term advances from customers	144.8	147.9	151.3	106.4	97.5	135.7	113.5	155.1	114.5	174.5	185.7	192.8
3. Dividends and profits payable	0.1	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	30.9	85.3	84.2	81.2	29.4	76.2	124.6	76.6	19.0	66.4	98.6	58.5
4. Payable to employees	20.4	98.2	21.7	17.2	19.4	82.0	16.3	17.0	15.4	73.0	18.0	14.8
5. Short-term acrrued expenses	59.3	38.1	61.8	54.7	41.6	30.6	70.8	25.2	34.7	22.4	22.3	24.7
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	1.6	1.8	0.1	0.4	0.7	1.1	1.1	1.3	1.1	1.4	1.3	1.4
9. Other short-term payables	2.6	2.2	4.0	9.7	8.1	3.0	4.2	124.2	2.9	2.3	9.0	8.6
10. Short-term borrowings and financial leases	997.3	1,209.0	648.5	722.4	882.5	728.0	646.2	768.0	953.2	706.6	327.3	622.0
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	80.2	87.3	102.7	108.7	74.9	75.9	79.1	85.9	20.6	23.7	72.7	83.4
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	230.3	73.8	12.6	10.4	13.5	12.8	11.6	15.1	15.9	15.0	14.5	11.0
1. Long-term trade payables	0.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	4.5	4.8	—	—	0.7	0.0	0.0	0.2	0.8	0.8	1.0	1.3
7. Other long-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	207.8	56.0	—	—	—	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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	18.0	12.9	12.6	10.4	12.8	12.8	11.6	14.9	15.2	14.3	13.4	9.7
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)	4,680.5	4,409.0	4,433.5	4,250.2	4,261.0	4,176.2	4,206.7	4,076.2	4,254.7	4,173.6	4,136.5	4,006.6
I. Owner's equity	4,680.5	4,409.0	4,433.5	4,250.2	4,261.0	4,176.2	4,206.7	4,076.2	4,254.7	4,173.6	4,136.5	4,006.6
1. Owner's capital	1,507.9	1,507.9	1,507.9	1,507.9	1,507.9	1,507.9	1,507.9	1,507.9	1,507.9	1,507.9	1,507.9	1,358.5
- Common stock with voting right	1,507,879,460,000.00	1,507,879,460,000.00	1,507,879,460,000.00	1,507,879,460,000.00	1,507,879,460,000.00	1,507,879,460,000.00	1,507,879,460,000.00	1,507,879,460,000.00	1,507,879,460,000.00	1,507,879,460,000.00	1,507,879,460,000.00	1,358,461,220,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	1,418.7	1,418.7	1,418.7	1,418.7	1,418.7	1,418.7	1,418.7	1,418.7	1,418.7	1,418.7	1,419.3	1,419.3
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Treasury shares	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	-653,230,147.00	-653,230,147.00
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	21.0	21.0	21.0	21.0	—	0.0	0.0	0.0	35.2	35.5	45.2	45.2
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	1,499.5	1,387.6	1,437.9	1,302.5	1,334.4	1,249.6	1,280.0	1,149.6	1,292.9	1,211.4	1,155.0	1,174.5
- Accumulated retained earning at the end of the previous period	1,387.6	883.6	1,079.6	1,079.6	1,249.4	829.4	950.1	950.1	1,211.4	774.7	880.3	1,029.7
- Undistributed earnings in this period	111.9	504.0	358.3	222.9	85.0	420.1	330.0	199.5	81.4	436.7	274.7	144.8
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	233.4	73.9	48.0	—	—	0.0	0.0	0.0	0.0	0.0	9.8	9.8
14. Financial reserves	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Other resources and funds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	6,903.7	6,972.0	5,981.2	5,627.9	5,755.2	5,639.8	5,543.6	5,599.8	5,700.3	5,522.1	5,122.3	5,237.8

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	144.6	186.9	174.2	179.1	108.8	99.0	157.2	166.4	101.2	196.9	162.5	133.3
Depreciation of Fixed Assets and Investment Property	21.8	22.3	23.1	22.9	24.0	25.0	25.2	25.3	25.5	25.5	25.6	26.4
Provision (Increase)/Reversal	4.5	92.9	12.2	-8.9	8.1	109.5	29.8	-0.6	4.0	6.5	12.5	17.0
FX Gain/Loss from Revaluation of Monetary Items	0.9	0.0	-1.3	0.8	0.4	0.5	0.2	-0.4	-0.1	-0.9	0.7	-0.1
Gain/Loss from Investment Activities	-38.7	-46.4	-25.0	-73.0	-33.0	-29.0	-37.8	-44.0	-37.5	-42.1	-31.6	-31.6
Interest Expense	11.7	12.6	7.4	9.3	6.2	5.8	5.1	8.7	8.0	6.0	7.0	12.5
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	144.8	268.3	190.5	130.3	114.4	210.8	179.7	155.5	101.2	191.8	176.8	157.3
Increase/(Decrease) in Receivables	-150.7	-61.9	-215.3	52.8	8.6	116.6	-46.7	-171.4	143.8	-36.0	72.6	-36.3
Increase/(Decrease) in Inventory	87.7	-262.5	-115.8	-50.4	-161.0	77.6	81.8	133.4	-124.6	176.5	83.0	147.1
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-106.1	490.9	154.3	-28.0	-91.2	74.6	35.3	7.1	-125.8	51.6	30.8	16.0
Increase/(Decrease) in Prepaid Expenses	-8.9	-595.8	5.9	4.9	-3.0	8.9	5.3	4.0	-0.7	9.2	3.4	0.5
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-11.7	-9.5	-8.2	-9.0	-6.5	-6.0	-5.0	-8.8	-8.0	-5.6	-7.0	-12.5
Corporate Income Tax Paid	-69.7	-71.3	-21.4	-0.1	-55.1	-68.6	-0.0	-70.7	-39.6	-55.5	-9.3	-0.3
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-7.1	-17.6	-5.7	-7.6	-1.1	-3.3	-7.4	-12.6	-3.7	-60.1	-10.7	-10.9
Net Cash Flow from Operating Activities	-121.7	-259.3	-15.7	93.0	-195.0	410.6	243.0	36.5	-57.5	272.1	339.5	260.9
Payments for Fixed Assets and Other Long-term Assets	-215.0	8.8	-189.8	-33.5	-11.2	-7.8	-6.8	-21.2	-22.8	-19.7	-42.8	-9.7
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.2	-3.9	4.9	0.1	—	0.7	0.1	0.4	0.0	0.0	1.7	-1.4
Loans and Purchases of Debt Instruments	-835.8	-1,148.5	-149.5	-152.5	-419.0	-1,376.0	-481.9	37.0	-461.5	-968.0	-492.5	-438.0
Receipts from Loan Repayments and Sale of Debt Instruments	885.0	1,265.1	363.6	131.6	448.1	1,035.5	391.5	226.1	236.6	391.5	484.4	369.0
Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	-2.4
Proceeds from Investments in Other Entities	—	0.0	0.0	96.8	—	0.0	0.0	0.0	0.0	10.2	0.0	0.0
Dividends and Interest Income Received	40.2	45.6	20.8	1.1	27.5	57.5	28.1	16.9	23.0	23.4	36.6	16.8
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	-125.5	167.1	49.9	43.6	45.3	-290.1	-69.0	259.3	-224.8	-562.5	-12.6	-65.6
Proceeds from Equity Issuance and Capital Contributions	160,400,000,000.00	—	—	—	—	0.00	0.00	0.00	0.00	96,000,000.00	0.00	0.00
Share Repurchases	—	—	—	—	—	0.00	0.00	0.00	0.00	-9,800,000,000.00	0.00	0.00
Proceeds from Borrowings	1,152.4	1,466.1	741.8	661.5	664.9	593.2	515.9	449.4	717.0	566.2	462.3	454.1
Repayment of Borrowings	-1,233.6	-855.2	-815.6	-821.6	-510.4	-511.4	-637.8	-634.5	-470.4	-186.8	-757.3	-620.6
Repayment of Finance Leases	—	—	—	—	—	120.6	-120.6	0.0	0.0	0.0	0.0	0.0
Dividends Paid	-0.0	-196.0	0.0	-105.5	-0.6	-241.1	0.0	0.0	0.0	-105.5	0.0	0.0
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	79.1	440.9	-25.8	-265.7	153.9	-38.7	-242.4	-185.1	246.6	264.3	-294.9	-166.4
Net Cash Flow During the Period	-168.0	348.8	8.4	-129.1	4.2	81.8	-68.4	110.7	-35.6	-26.2	32.0	28.8
Cash and Cash Equivalents at Beginning of Period	387.7	38.9	30.5	159.5	155.3	66.9	66.9	66.9	66.9	387.9	387.9	387.9
FX Difference from Revaluation	-0.1	-0.0	0.0	0.0	-0.0	-0.2	0.2	-0.0	0.0	0.2	-0.1	0.0
Cash and Cash Equivalents at End of Period	219.6	387.7	38.9	30.5	159.5	155.3	73.7	141.9	31.2	66.9	92.9	61.0

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ACG

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