APC

Chiếu xạ An Phú ·UPCOM ·2026Q1

▼▼ Declining sharply

Margins remain under pressure Net margin −21.51%, −2.86pp YoY

Price

5,700

Latest close

01 Jun 2026

P/E -4.50x

P/B 0.21x

EPS -1,267

BVPS 26,674

ROE -4.6%

ROA -3.3%

Profit Margin -21.5%

Asset Turnover 0.15x

Equity Mult. 1.39x

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

What Is Changing

On a TTM 2026Q1 basis, APC is going through a period of clear decline across multiple metrics at once. More notably, profit is significantly supported by non-core sources and operating cash flow is not yet positive — the earnings quality picture needs close monitoring.

	                            
	                                TTM REVENUE
	                            
	                                    VND 117bn
	                                
−7.4%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    −VND 25bn
	                                
−6.8%YoY

	                            
	                                Net financial result / PBT
	                            
	                                    52.8%
	                                
affects earnings quality

Metric	2025	2024	2023	2022	2021
Revenue	115.2	131.1	117.9	135.7	128.5
Growth	-12%	+11%	-13%	+6%	—
Net Income	-26.8	-20.9	-35.6	-9.0	-1.6
Net Margin	-23.29%	-15.91%	-30.20%	-6.64%	-1.24%

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	27.9	29.4	31.0	28.9	25.9	32.4	35.1	33.4	30.3	36.0	34.9	27.5
Growth	-5%	-5%	+8%	+12%	-20%	-8%	+5%	+10%	-16%	+3%	+27%	—
Net Income	-6.3	-8.9	-3.4	-6.6	-7.9	-6.5	-0.9	-8.3	-5.2	-5.9	-2.4	-12.0
Net Margin	-22.51%	-30.20%	-11.08%	-22.90%	-30.64%	-19.99%	-2.65%	-24.89%	-17.03%	-16.52%	-6.77%	-43.79%

Drivers of APC's profit

TTM

Net profit attributable to parent declined vs last year, mainly due to lower gross profit. Supporting and offsetting drivers:

Finance costs ↓ 5.3bn

Selling expenses ↓ 1.4bn

Gross profit ↓ 5.9bn

Administrative expenses ↑ 2.6bn

Financial income ↓ 0.8bn

TTM

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

Finance costs ↓ 1.1bn

Gross profit ↑ 0.7bn

Selling expenses ↓ 0.2bn

Administrative expenses ↑ 0.3bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 -4.1% = -18.7% × 0.15 × 1.45

2026Q1 -4.6% = -21.5% × 0.15 × 1.39

ROE is broadly flat at -4.6% — the components are offsetting one another.

Net margin: -21.5% -2.9pp Asset turnover: 0.15x +0.00x Leverage: 1.39x -0.06x

Is the profit sustainable?

Margins are under pressure while earnings still rely significantly on non-core sources.

very positive positive stable watch under pressure

What is driving the margin?

Net margin fell to -21.51%, losing 2.9pp. The main pressure comes from Gross margin fell 3.3pp and SG&A / Revenue rose 3.0pp (with additional support from Net financial result / Revenue rose 2.7pp).

The pressure comes from core operations — this is a concerning type of decline, not a one-off movement.

Profitability trend

Net Margin -21.51% −2.9pp

Gross Margin 17.89% −3.3pp

SG&A / Revenue 28.18% +3.0pp

Non-core / Revenue -11.37% +2.7pp

TTM YoY · 2025Q1 -> 2026Q1

Watchpoints

Financial result is supporting margin

Financial result accounts for 52.8% of PBT and lifted net margin by 2.7pp — separate the operating contribution from this source.

Is capital being used efficiently?

Capital efficiency should be read in industry context — ROIC may fluctuate with business specifics.

Is capital being deployed efficiently?

Track how much operating profit the business generates on invested capital.

Industry characteristics make ROIC cyclical — this is a reference signal and should be read with the business context.

CAPITAL EFFICIENCY TREND

ROIC — —

NOPAT Margin — —

Capital Turnover 0.16x +0.00x

Average Invested Capital 716.2bn −76.2bn

Balance Sheet

ROIC above should be read with industry context — the balance sheet below adds perspective. Capital structure is conservative with low leverage — liabilities at 0.37x equity, net debt at 0.28x equity.

Over the last 12 months, working capital released 3.4bn of cash, mainly thanks to lower receivables and lower inventories. Pressure from lower payables only partly offset that benefit.

Working Capital Drivers

Receivables decreased → higher CFO: +5.8bn

Inventories decreased → higher CFO: +1.2bn

Payables decreased → lower CFO: −3.5bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 18.7 days versus the same period last year. The main moves came from DIO fell 2.8 days, DSO fell 9.9 days, and DPO rose 5.9 days.

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

Working Capital Efficiency

Receivables 55.7 days −9.9 days

Inventory 8.6 days −2.8 days

Payables 46.6 days +5.9 days

Cash Conversion Cycle 17.7 days −18.7 days

Is financial risk significant?

Financial risk is low — leverage is safe, both CFO and FCF are positive.

Leverage & Liquidity

Leverage warrants monitoring, with net debt / equity at 0.28x and interest coverage only at -1.90x.

At present, short-term debt accounts for 11.7% of total debt, cash equals 9.0% of debt, and total debt stands at 166.2bn.

Watchpoints

Interest coverage is thin

Interest coverage is -1.90x, leaving limited room to absorb financing costs.

Cash buffer is thin relative to debt

Cash / debt stands at 9.0%, leaving limited liquidity buffer to monitor.

Leverage and liquidity trend

Net Debt / Equity 0.28x −0.04x

Interest Coverage -1.90x −0.68x

Cash / Debt 9.0% +3.9pp

Short-term Debt / Total Debt 11.7% −30.3pp

CFO / NI -1.70x +0.52x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 42.7bn in 2025, against investing cash flow of 1.1bn.

Post-investment cash flow was positive +43.8bn. Financing cash flow was negative +42.1bn.

CFO / net income was -1.70x.

After spending +1.0bn on fixed-asset investment, the business generated trailing free cash flow of +41.8bn.

Cash Conversion

CFO TTM 42.8bn −9.5bn

Cash Capex 1.0bn −3.0bn

FCF TTM +41.8bn −6.5bn

Investment Takeaway

The business is showing a few weaker signals, but the current magnitude is not yet clear enough to conclude that this is a broader weakening phase. Even so, earnings quality still needs closer monitoring because net financial result remains elevated. The main risk still sits in core profitability, with net margin down 2.9 pp.

Watchpoint: the earnings mix still needs monitoring, with net financial result still accounting for 52.8% of PBT and CFO / net income currently at -1.70x.

Key risk: profitability remains under pressure, with trailing-12M net margin at -21.51% after a 2.9pp decline versus the same period last year.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	115.2	131.1	117.9	135.7	128.5
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	115.2	131.1	117.9	135.7	128.5
Cost of Goods Sold	94.9	99.4	92.5	90.8	0.0
Gross Profit	20.3	31.7	25.4	44.9	45.3
Financial Income	0.6	1.1	4.6	5.6	6.9
Financial Expenses	15.0	20.3	32.0	26.3	-20.6
Interest Expense	13.5	19.9	31.8	26.0	-20.6
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	0.0
Selling Expenses	3.5	4.8	4.8	5.9	-5.4
General and Administrative Expenses	29.4	28.3	28.0	27.3	-27.7
Operating Profit	-27.0	-20.6	-34.9	-9.0	-1.5
Other Income	0.2	0.6	0.2	0.0	0.0
Other Expenses	0.0	0.4	0.3	0.0	0.0
Other Profit	0.2	0.2	-0.1	-0.0	-0.1
Profit Before Tax	-26.8	-20.4	-34.9	-9.0	-1.6
Current Income Tax Expense	—	0.5	0.7	0.0	0.0
Deferred Income Tax Expense	—	0.0	0.0	0.0	0.0
Net Income	-26.8	-20.9	-35.6	-9.0	-1.6
Non-controlling Interest	—	0.0	0.0	0.0	0.0
Profit Attributable to Parent	-26.8	-20.9	-35.6	-9.0	-1.6
Earnings per Share	-1,348.00	-1,048.00	-1,789.00	-453.00	-240.00
Diluted EPS	-1,348.00	-1,048.00	-1,789.00	-453.00	-79.28

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	70.7	87.9	128.9	242.8	219.8
I. Cash and cash equivalents	8.2	7.7	6.5	4.5	19.0
1. Cash	8.2	7.7	6.5	4.5	0.0
2. Cash equivalents	—	0.0	0.0	0.0	0.0
II. Short-term financial investments	—	10.6	22.7	104.0	0.0
1. Available for sale securities	—	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	0.0	0.0	0.0	0.0
3. Held to maturity investments	—	10.6	22.7	104.0	0.0
III. Short-term receivables	54.2	59.5	90.5	129.6	89.5
1. Short-term trade accounts receivable	16.7	19.7	26.8	23.3	0.0
2. Short-term prepayments to suppliers	44.9	46.8	73.8	115.5	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	0.4	0.3	0.5	0.7	0.0
7. Provision for short-term doubtful debts (*)	-7.8	-7.3	-10.5	-9.9	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	2.6	2.8	0.7	0.6	0.1
1. Inventories	2.6	2.8	0.7	0.6	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	5.8	7.2	8.6	4.1	4.1
1. Short-term prepayments	1.6	1.0	0.5	1.2	0.0
2. Value added tax to be reclaimed	1.7	3.7	5.6	0.4	0.0
3. Taxes and other receivables from state authorities	2.5	2.5	2.5	2.5	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)	675.1	726.3	761.6	731.1	780.0
I. Long-term receivables	10.3	10.3	10.3	10.3	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	10.3
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	0.0	0.0	0.0
6. Other long-term receivables	10.3	10.3	10.3	10.3	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	564.3	616.5	645.0	647.7	693.8
1. Tangible fixed assets	544.3	594.8	621.4	622.0	666.0
- Cost	930.8	930.9	903.0	856.5	0.0
- Accumulated depreciation	-386.5	-336.1	-281.6	-234.5	0.0
2. Financial leased fixed assets	—	0.0	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0	0.0
3. Intangible fixed assets	20.0	21.7	23.6	25.7	27.8
- Cost	40.6	40.6	40.6	40.6	0.0
- Accumulated depreciation	-20.5	-18.9	-16.9	-14.9	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	1.9	0.1	0.1	2.4	0.2
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	1.9	0.1	0.1	2.4	0.0
V. Long-term financial investments	9.4	0.0	0.0	0.0	0.0
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	—	0.0	0.0	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	9.4	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	89.1	99.4	106.1	70.7	0.0
1. Long-term prepayments	89.1	99.4	106.1	70.7	0.0
2. Deferred income tax assets	—	0.0	0.0	0.0	0.0
3. Long-term equipment, supplies, spare parts	—	0.0	0.0	0.0	0.0
4. Other long-term assets	—	0.0	0.0	0.0	75.7
5. Goodwill	—	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	745.8	814.2	890.5	973.9	999.8
A. LIABILITIES (300=210+330)	202.8	244.4	299.8	347.7	364.6
I. Short -term liabilities	55.5	132.4	114.1	87.5	43.2
1. Short-term trade accounts payable	13.1	11.7	7.9	7.5	7.3
2. Short-term advances from customers	0.1	0.6	0.1	0.2	0.4
3. Taxes and other payables to state authorities	0.5	0.3	0.5	0.4	0.0
4. Payable to employees	1.7	1.8	2.0	1.6	0.0
5. Short-term acrrued expenses	2.4	2.7	2.1	2.1	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	—	0.0	0.0	0.0	0.0
9. Other short-term payables	1.6	1.7	1.7	1.2	0.0
10. Short-term borrowings and financial leases	23.0	100.4	86.4	61.2	15.2
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	13.1	13.2	13.2	13.3	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	147.3	112.0	185.8	260.2	321.4
1. Long-term trade payables	—	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	0.0	0.0	0.0	0.0
7. Other long-term liabilities	0.6	0.6	0.0	0.0	0.0
8. Long-term borrowings and financial leases	146.7	111.4	185.8	260.2	321.4
9. Convertible bonds	—	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	0.0	0.0	0.0	0.0
13. Fund for technology development	—	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	542.9	569.8	590.6	626.2	635.3
I. Owner's equity	542.9	569.8	590.6	626.2	0.0
1. Owner's capital	201.2	201.2	201.2	201.2	635.3
- Common stock with voting right	201,213,950,000.00	201,213,950,000.00	201,213,950,000.00	201,213,950,000.00	201,213,950,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	121.4	121.4	121.4	121.4	121.4
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	-2,163,700,000.00	-2,163,700,000.00	-2,163,700,000.00	-2,163,700,000.00	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	9.3	9.3	9.3	9.3	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	213.2	240.0	260.9	296.5	305.5
- Accumulated retained earning at the end of the previous period	240.0	260.9	296.5	305.5	307.1
- Undistributed earnings in this period	-26.8	-20.9	-35.6	-9.0	-1.6
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	—	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)	745.8	814.2	890.5	973.9	999.8

Item	2025	2024	2023	2022	2021
Profit Before Tax	-26.8	-20.4	-34.9	-9.0	-1.6
Depreciation of Fixed Assets and Investment Property	53.2	56.5	49.1	48.1	41.4
Provision (Increase)/Reversal	0.5	0.5	0.6	0.7	0.0
FX Gain/Loss from Revaluation of Monetary Items	1.4	0.2	0.2	-0.1	0.0
Gain/Loss from Investment Activities	-0.2	-1.1	-4.6	-5.4	0.0
Interest Expense	13.5	19.9	31.8	26.0	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	41.5	55.7	42.2	60.3	57.1
Increase/(Decrease) in Receivables	6.5	11.7	11.6	2.4	0.0
Increase/(Decrease) in Inventory	0.3	-2.2	-0.1	-0.5	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-1.4	0.7	1.0	-1.8	0.0
Increase/(Decrease) in Prepaid Expenses	9.8	6.3	-34.8	4.5	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-13.9	-19.3	-32.0	-25.8	0.0
Corporate Income Tax Paid	—	-0.5	-0.7	0.0	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-0.1	-0.1	-0.0	-0.0	0.0
Net Cash Flow from Operating Activities	42.7	52.3	-12.7	39.0	-33.9
Payments for Fixed Assets and Other Long-term Assets	-0.4	-4.0	-22.3	-47.6	-7.6
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.2	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	-9.8	-1.3	-20.1	-146.2	-74.5
Receipts from Loan Repayments and Sale of Debt Instruments	10.9	13.3	101.4	149.4	52.6
Investments in Other Entities	—	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	0.3	1.2	4.8	6.3	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	1.1	9.3	63.8	-38.2	-25.3
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	190.0	53.0	83.8	0.0	0.0
Repayment of Borrowings	-232.1	-113.4	-133.0	-15.2	0.0
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	—	0.0	0.0	0.0	0.0
Other Financing Receipts	—	0.0	0.0	0.0	0.0
Other Financing Payments	—	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	-42.1	-60.4	-49.2	-15.2	0.0
Net Cash Flow During the Period	1.7	1.2	1.9	-14.4	-6.0
Cash and Cash Equivalents at Beginning of Period	7.7	6.5	4.5	19.0	78.2
FX Difference from Revaluation	-1.2	0.0	0.0	-0.0	-0.0
Cash and Cash Equivalents at End of Period	8.2	7.7	6.5	4.5	19.0

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	27.9	29.4	31.0	28.9	25.9	32.4	35.1	33.4	30.3	36.0	34.9	27.5
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	27.9	29.4	31.0	28.9	25.9	32.4	35.1	33.4	30.3	36.0	34.9	27.5
Cost of Goods Sold	24.2	24.9	23.6	23.5	22.8	25.2	24.6	27.2	22.4	25.1	23.5	23.8
Gross Profit	3.8	4.5	7.4	5.3	3.0	7.1	10.6	6.2	7.9	10.8	11.5	3.7
Financial Income	0.0	0.0	0.0	0.0	0.0	0.2	0.3	0.3	0.3	0.8	1.0	1.4
Financial Expenses	2.8	3.2	3.1	4.2	3.9	4.7	4.7	5.3	5.6	6.7	8.2	8.9
Interest Expense	2.8	3.0	3.3	3.4	3.9	4.5	4.9	5.1	5.4	6.7	7.9	8.9
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	0.8	0.9	0.8	0.8	1.0	1.3	1.0	1.4	1.1	2.1	1.3	0.8
General and Administrative Expenses	6.5	9.2	6.9	7.2	6.1	7.2	5.9	8.0	7.2	8.8	5.3	7.4
Operating Profit	-6.3	-8.9	-3.4	-6.8	-7.9	-5.8	-0.8	-8.3	-5.7	-5.9	-2.4	-12.0
Other Income	—	0.0	—	0.2	—	0.0	0.0	0.0	0.5	0.0	0.0	0.0
Other Expenses	0.0	0.0	—	—	0.0	0.2	0.1	0.0	0.0	0.0	0.0	0.0
Other Profit	-0.0	0.0	—	0.2	-0.0	-0.2	-0.1	-0.0	0.5	0.0	-0.0	-0.0
Profit Before Tax	-6.3	-8.9	-3.4	-6.6	-7.9	-6.0	-0.9	-8.3	-5.2	-5.9	-2.4	-12.0
Current Income Tax Expense	—	—	—	—	—	0.5	0.0	0.0	0.0	0.0	0.0	0.0
Deferred Income Tax Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	-6.3	-8.9	-3.4	-6.6	-7.9	-6.5	-0.9	-8.3	-5.2	-5.9	-2.4	-12.0
Non-controlling Interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	-6.3	-8.9	-3.4	-6.6	-7.9	-6.5	-0.9	-8.3	-5.2	-5.9	-2.4	-12.0
Earnings per Share	-316.00	-446.00	-173.00	-332.00	-398.00	-325.00	-47.00	-417.00	-259.00	-298.00	-119.00	-605.00
Diluted EPS	-316.00	-446.00	-173.00	-332.00	-398.00	-1,048.00	-47.00	-417.00	-259.00	-298.00	-119.00	-605.00

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)	75.5	80.6	94.2	86.1	78.7	87.9	106.7	110.6	132.6	128.9	158.8	181.1
I. Cash and cash equivalents	14.9	8.2	19.3	15.9	9.7	7.7	8.4	6.1	7.4	6.5	6.5	14.8
1. Cash	14.9	8.2	19.3	15.9	9.7	7.7	8.4	6.1	7.4	6.5	6.5	14.8
2. Cash equivalents	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Short-term financial investments	—	9.4	9.6	—	—	10.6	23.6	23.4	23.1	22.7	44.2	46.3
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	—	9.4	9.6	—	—	10.6	23.6	23.4	23.1	22.7	44.2	46.3
III. Short-term receivables	54.2	54.7	56.7	60.6	58.8	59.5	64.4	70.0	90.6	90.5	98.5	110.7
1. Short-term trade accounts receivable	17.0	16.7	16.6	20.6	18.8	19.7	28.1	27.2	26.8	26.8	25.9	27.1
2. Short-term prepayments to suppliers	44.2	44.9	47.0	46.9	46.9	46.8	46.5	53.1	73.8	73.8	80.9	93.2
3. Short-term inter-company receivables	—	0.5	—	—	—	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	0.9	0.4	0.6	0.6	0.4	0.3	0.5	0.4	0.6	0.5	2.0	0.5
7. Provision for short-term doubtful debts (*)	-7.8	-7.8	-7.5	-7.5	-7.3	-7.3	-10.7	-10.7	-10.5	-10.5	-10.2	-10.2
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	1.7	2.6	2.9	2.9	2.9	2.8	3.0	3.6	3.4	0.7	0.2	0.4
1. Inventories	1.7	2.6	2.9	2.9	2.9	2.8	3.0	3.6	3.4	0.7	0.2	0.4
2. Provision for decline in value of inventories	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
V. Other short-term assets	4.7	5.8	5.7	6.7	7.3	7.2	7.3	7.5	8.1	8.6	9.3	8.9
1. Short-term prepayments	1.1	1.6	1.1	1.5	1.6	1.0	0.6	0.7	0.5	0.5	1.1	1.1
2. Value added tax to be reclaimed	1.1	1.7	2.1	2.6	3.2	3.7	4.2	4.3	5.1	5.6	5.7	5.3
3. Taxes and other receivables from state authorities	2.5	2.5	2.5	2.5	2.5	2.5	2.5	2.5	2.5	2.5	2.5	2.5
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)	661.0	665.6	679.6	694.6	710.3	726.3	741.0	750.8	745.4	761.6	769.4	766.2
I. Long-term receivables	10.3	10.3	10.3	10.3	10.3	10.3	10.3	10.3	10.3	10.3	10.3	10.3
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	10.3	10.3	10.3	10.3	10.3	10.3	10.3	10.3	10.3	10.3	10.3	10.3
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	552.3	564.3	577.5	589.9	603.2	616.5	627.9	640.0	631.8	645.0	613.4	623.8
1. Tangible fixed assets	532.5	544.3	557.1	569.1	582.0	594.8	605.8	617.4	608.7	621.4	589.2	599.2
- Cost	931.8	—	—	—	—	930.9	929.0	927.8	903.0	903.0	858.2	856.7
- Accumulated depreciation	-399.3	—	—	—	—	-336.1	-323.2	-310.3	-294.2	-281.6	-269.0	-257.5
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	19.8	20.0	20.3	20.7	21.2	21.7	22.2	22.6	23.1	23.6	24.1	24.7
- Cost	40.6	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-20.8	—	—	—	—	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	1.9	1.9	0.1	0.1	0.1	0.1	0.1	0.5	0.1	0.1	36.3	20.6
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	1.9	1.9	0.1	0.1	0.1	0.1	0.1	0.5	0.1	0.1	36.3	20.6
V. Long-term financial investments	9.5	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	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	9.5	—	—	—	—	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	87.0	89.1	91.7	94.4	96.6	99.4	102.6	100.0	103.1	106.1	109.4	111.4
1. Long-term prepayments	87.0	89.1	91.7	94.4	96.6	99.4	102.6	100.0	103.1	106.1	109.4	111.4
2. Deferred income tax assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term equipment, supplies, spare parts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other long-term assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Goodwill	—	—	—	—	—	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)	736.5	746.3	773.8	780.7	788.9	814.2	847.6	861.4	878.0	890.5	928.2	947.3
A. LIABILITIES (300=210+330)	199.8	203.3	222.0	225.5	227.1	244.4	271.4	284.2	292.5	299.8	331.6	348.3
I. Short -term liabilities	52.5	56.1	67.7	71.2	115.1	95.2	122.2	98.4	106.7	114.1	139.2	118.8
1. Short-term trade accounts payable	12.8	13.1	12.8	12.8	11.8	11.7	12.0	12.0	10.4	7.9	8.0	8.5
2. Short-term advances from customers	0.1	0.1	0.1	1.4	2.6	0.6	0.2	0.8	0.3	0.1	0.2	0.2
3. Taxes and other payables to state authorities	0.4	0.5	0.4	0.3	0.3	0.3	0.4	0.3	0.5	0.5	0.5	0.4
4. Payable to employees	2.5	1.8	2.3	2.2	2.3	1.8	2.1	2.2	2.3	2.0	2.3	2.3
5. Short-term acrrued expenses	2.4	2.4	2.8	3.2	2.5	2.7	2.6	2.1	1.4	2.1	1.5	1.6
6. Short-term inter-company payables	—	0.5	—	—	0.0	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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Other short-term payables	1.7	1.6	2.1	2.2	1.8	1.7	1.6	1.7	1.9	1.7	1.6	1.4
10. Short-term borrowings and financial leases	19.5	23.0	34.0	36.0	80.8	63.2	90.2	66.1	76.6	86.4	112.1	91.2
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	13.1	13.1	13.1	13.1	13.1	13.2	13.2	13.2	13.2	13.2	13.2	13.2
13. Price stabilization fund	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Government bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Long-term liabilities	147.3	147.3	154.3	154.3	112.0	149.2	149.2	185.8	185.8	185.8	192.4	229.6
1. Long-term trade payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Other long-term liabilities	0.7	0.6	0.6	0.6	0.6	0.6	0.6	0.0	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	146.7	146.7	153.7	153.7	111.4	148.6	148.6	185.8	185.8	185.8	192.4	229.6
9. Convertible bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Fund for technology development	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	536.7	542.9	551.8	555.2	561.9	569.8	576.2	577.2	585.5	590.6	596.6	598.9
I. Owner's equity	536.7	542.9	551.8	555.2	561.9	569.8	576.2	577.2	585.5	590.6	596.6	598.9
1. Owner's capital	201.2	201.2	201.2	201.2	201.2	201.2	201.2	201.2	201.2	201.2	201.2	201.2
- Common stock with voting right	201,213,950,000.00	201,213,950,000.00	201,213,950,000.00	201,213,950,000.00	201,213,950,000.00	201,213,950,000.00	201,213,950,000.00	201,213,950,000.00	201,213,950,000.00	201,213,950,000.00	201,213,950,000.00	201,213,950,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	121.4	121.4	121.4	121.4	121.4	121.4	121.4	121.4	121.4	121.4	121.4	121.4
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	-2,163,700,000.00	-2,163,700,000.00	-2,163,700,000.00	-2,163,700,000.00	-2,163,700,000.00	-2,163,700,000.00	-2,163,700,000.00	-2,163,700,000.00	-2,163,700,000.00	-2,163,700,000.00	-2,163,700,000.00	-2,163,700,000.00
6. Assets revaluation differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Foreign exchange differences	0.1	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	9.3	9.3	9.3	9.3	9.3	9.3	9.3	9.3	9.3	9.3	9.3	9.3
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	206.9	213.2	222.0	225.5	232.1	240.0	246.5	247.4	255.7	260.9	266.8	269.2
- Accumulated retained earning at the end of the previous period	213.2	240.0	240.0	240.0	240.0	260.9	260.9	260.9	260.9	296.5	296.5	296.5
- Undistributed earnings in this period	-6.3	-26.9	-18.0	-14.5	-7.9	-20.9	-14.4	-13.5	-5.2	-35.6	-29.7	-27.3
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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)	736.5	746.3	773.8	780.7	788.9	814.2	847.6	861.4	878.0	890.5	928.2	947.3

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	-6.3	-8.9	-3.4	-6.6	-7.9	-6.0	-0.9	-8.3	-5.2	-5.9	-2.4	-12.0
Depreciation of Fixed Assets and Investment Property	13.1	13.2	13.3	13.4	13.4	13.4	13.3	16.6	13.2	13.1	12.0	12.0
Provision (Increase)/Reversal	—	0.3	0.0	0.2	—	-3.3	0.0	0.2	0.0	0.3	0.0	0.3
FX Gain/Loss from Revaluation of Monetary Items	—	0.8	-0.1	0.7	—	0.2	-0.2	0.1	0.2	-0.0	0.2	0.0
Gain/Loss from Investment Activities	-0.0	0.0	0.0	-0.2	-0.0	-0.2	-0.3	-0.3	-0.3	-0.8	-0.9	-1.5
Interest Expense	2.8	3.0	3.3	3.4	3.9	4.5	4.9	5.1	5.4	6.7	7.9	8.9
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	9.6	8.4	13.0	10.9	9.3	8.6	16.8	13.5	13.3	13.4	16.8	7.8
Increase/(Decrease) in Receivables	0.1	2.4	4.4	-1.1	0.8	8.8	5.6	0.6	0.3	0.5	-0.1	39.4
Increase/(Decrease) in Inventory	0.9	0.3	0.0	-0.0	-0.0	0.1	0.7	-0.2	-2.7	-0.4	0.2	0.1
Increase/(Decrease) in Payables (Excl. Interest and CIT)	0.4	-2.1	-1.0	-0.9	2.5	-0.4	0.3	-1.6	2.4	0.2	0.4	0.3
Increase/(Decrease) in Prepaid Expenses	2.6	2.2	3.1	2.3	2.2	2.8	-2.5	3.0	3.0	3.8	2.1	-42.0
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-2.8	-3.4	-3.8	-2.6	-4.1	-4.1	-4.6	-5.2	-5.4	-6.7	-8.1	-8.8
Corporate Income Tax Paid	—	—	—	—	-0.5	-0.5	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-0.0	-0.0	-0.0	-0.5	0.5	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0
Net Cash Flow from Operating Activities	10.8	7.7	15.7	8.6	10.7	15.3	16.2	10.0	10.8	10.8	11.4	-3.3
Payments for Fixed Assets and Other Long-term Assets	-0.6	0.4	-0.7	-0.0	-0.0	-2.3	-0.8	-0.8	0.0	-1.7	-5.5	-4.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.2	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	-0.0	-10.9	3.7	—	-2.7	-0.3	-0.2	-0.3	-0.4	-8.2	-10.1	-1.5
Receipts from Loan Repayments and Sale of Debt Instruments	—	0.2	—	-2.7	13.3	13.3	0.0	0.0	0.0	29.7	12.3	26.0
Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	0.0	-0.0	0.0	-0.0	0.3	0.3	0.2	0.3	0.4	1.6	0.0	3.1
Increase/(Decrease) in Term Deposits	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	-0.6	0.6	-10.3	-0.0	10.9	10.9	-0.8	-0.8	0.0	21.4	-3.3	23.6
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	—	0.0	9.0	87.2	93.8	7.1	14.3	20.1	11.5	9.9	29.0	15.0
Repayment of Borrowings	-3.5	-18.0	-11.0	-89.7	-113.4	-34.1	-27.4	-30.6	-21.4	-42.1	-45.3	-30.3
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	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	-3.5	-18.0	-2.0	-2.5	-19.6	-27.0	-13.1	-10.5	-9.8	-32.2	-16.3	-15.3
Net Cash Flow During the Period	6.7	-9.7	3.4	6.0	2.0	-0.7	2.3	-1.3	0.9	-0.0	-8.3	5.0
Cash and Cash Equivalents at Beginning of Period	8.2	19.3	15.9	9.7	7.7	6.5	6.5	6.5	6.5	4.5	4.5	4.5
FX Difference from Revaluation	0.1	-1.2	0.2	0.2	—	0.0	-0.0	0.0	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	14.9	8.2	19.3	15.9	9.7	7.7	8.4	6.1	7.4	6.5	6.5	14.8

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APC

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