DHG

Dược Hậu Giang ·HOSE ·2026Q1

▲ Showing improvement

Earnings conversion is confirmed CFO/NPAT 0.92x

Price

94,000

Latest close

02 Jun 2026

P/E 13.41x

P/B 2.77x

EPS 7,011

BVPS 33,981

ROE 21.5%

ROA 17.2%

Profit Margin 18.0%

Asset Turnover 0.96x

Equity Mult. 1.25x

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

What Is Changing

On a TTM 2026Q1 basis, DHG is improving on both revenue and margins, though the magnitude is still moderate — the growth momentum has held across consecutive periods. This signal only becomes convincing if the improvement continues through the next few periods.

	                            
	                                TTM REVENUE
	                            
	                                    VND 5,271bn
	                                
+9.3%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 947bn
	                                
+15.1%YoY

Metric	2025	2024	2023	2022	2021
Revenue	5,267.0	4,884.9	5,015.4	4,676.0	4,003.2
Growth	+8%	-3%	+7%	+17%	—
Net Income	852.4	778.9	1,050.7	988.5	776.3
Net Margin	16.18%	15.95%	20.95%	21.14%	19.39%

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	1,198.1	1,742.5	1,145.7	1,184.2	1,194.5	1,458.7	1,061.8	1,105.8	1,258.5	1,534.7	1,099.5	1,152.6
Growth	-31%	+52%	-3%	-1%	-18%	+37%	-4%	-12%	-18%	+40%	-5%	—
Net Income	315.7	184.8	209.6	236.9	266.2	208.2	156.0	192.5	222.2	261.1	166.1	263.3
Net Margin	26.35%	10.61%	18.30%	20.00%	22.29%	14.27%	14.69%	17.41%	17.66%	17.01%	15.11%	22.85%

Drivers of DHG's profit

TTM

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

Gross profit ↑ 352.6bn

Other profit ↑ 63.9bn

Finance costs ↓ 17.4bn

Selling expenses ↑ 226.3bn

Administrative expenses ↑ 69.0bn

TTM

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

Gross profit ↑ 32.8bn

Selling expenses ↓ 16.2bn

Finance costs ↓ 9.2bn

Administrative expenses ↑ 4.9bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 17.4% = 17.1% × 0.81 × 1.27

2026Q1 21.5% = 18.0% × 0.96 × 1.25

ROE rose from 17.4% to 21.5% — mainly driven by asset turnover, despite leverage moving in the opposite direction.

Net margin: 18.0% +0.9pp Asset turnover: 0.96x +0.15x Leverage: 1.25x -0.02x

Is the profit sustainable?

Margins are improving and earnings quality is solid — a durable foundation for ROE.

very positive positive stable watch under pressure

What is driving the margin?

Net margin edged up to 17.97%, rising 0.9pp. Core operating signals are improving as Gross margin rose 2.8pp are enough to offset pressure from SG&A / Revenue rose 3.4pp (with additional support from Other profit / Revenue rose 1.4pp and Net financial result / Revenue rose 0.0pp).

Most of the margin increase comes from non-core items — core operations have not kept pace, this is a margin expansion to watch carefully.

Profitability trend

Net Margin 17.97% +0.9pp

Gross Margin 48.29% +2.8pp

SG&A / Revenue 28.74% +3.4pp

TTM YoY · 2025Q1 -> 2026Q1

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 18.20% −0.3pp

Capital Turnover — —

Average Invested Capital — —

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 0.25x equity, net debt at 0.04x equity.

Inventory ended the period at 1,024.6bn, roughly 19.8% of total assets.

Over the last 12 months, working capital absorbed 80.3bn 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: −78.9bn

Inventories increased → lower CFO: −30.6bn

Payables increased → higher CFO: +29.2bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 29.0 days versus the same period last year. The main moves came from DIO fell 24.4 days, DSO rose 0.3 days, and DPO rose 4.9 days.

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

Watchpoints

Cash conversion cycle remains stretched

CCC stands at 141.2 days, suggesting that working capital remains tied up for a relatively long operating cycle.

Receivables collection is slowing

DSO increased by +0.3 days, pointing to slower receivables turnover.

Working Capital Efficiency

Receivables 37.5 days +0.3 days

Inventory 148.9 days −24.4 days

Payables 45.2 days +4.9 days

Cash Conversion Cycle 141.2 days −29.0 days

Is financial risk significant?

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

Leverage & Liquidity

Leverage looks fairly comfortable, with net debt / equity at 0.04x and interest coverage at 15.04x.

Debt maturity and the cash buffer remain the two key areas to monitor.

Some leverage signals are missing, so the current read should be treated as contextual.

Leverage and liquidity trend

Net Debt / Equity 0.04x −0.08x

Interest Coverage 15.04x +3.61x

Cash / Debt — —

Short-term Debt / Total Debt — —

CFO / NI 0.92x −0.67x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 1,213.0bn in 2025, against investing cash flow of 811.7bn.

Post-investment cash flow was positive +2,024.7bn. Financing cash flow was negative +1,957.4bn.

CFO / net income was 0.92x.

After spending +46.3bn on fixed-asset investment, the business generated trailing free cash flow of +821.1bn.

Cash Conversion

CFO TTM 867.4bn −436.1bn

Cash Capex 46.3bn −37.2bn

FCF TTM +821.1bn −398.9bn

Investment Takeaway

The business is entering a broader improvement phase — not just stronger earnings but better operating quality as well. Margin, ROIC, and cash flow all improving shows the business is growing in a cleaner and more efficient way than before. Notably, the improvement trend has been confirmed across multiple cycles, from margin to capital efficiency and cash generation. Even so, capital efficiency remains the area to verify in upcoming periods. The residual risk still sits in working capital is tied up too long in the operating cycle, with CCC extended to 141 days.

Improvement: earnings conversion looks more confirmed, with CFO / net income at 0.92x.

Watchpoint: Capital efficiency needs cycle context.

Key risk: working capital remains tied up for too long, with cash cycle at 141.2 days.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	6,136.9	5,714.4	5,767.7	5,181.7	4,522.0
Revenue Deductions	869.9	829.6	752.3	505.7	0.0
Net Revenue	5,267.0	4,884.9	5,015.4	4,676.0	4,003.2
Cost of Goods Sold	2,760.6	2,747.1	2,671.8	2,418.5	0.0
Gross Profit	2,506.4	2,137.8	2,343.5	2,257.5	1,920.9
Financial Income	133.2	148.1	217.9	137.1	122.9
Financial Expenses	81.6	89.7	90.9	101.2	-99.2
Interest Expense	25.6	24.8	29.5	12.6	-12.1
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	-0.0
Selling Expenses	1,157.3	904.7	978.4	913.2	-803.0
General and Administrative Expenses	396.4	312.8	312.8	268.2	-257.2
Operating Profit	1,004.3	978.7	1,179.3	1,112.1	884.5
Other Income	10.4	5.3	5.1	9.7	0.0
Other Expenses	28.2	79.5	25.2	22.1	0.0
Other Profit	-17.7	-74.2	-20.1	-12.4	-20.5
Profit Before Tax	986.6	904.5	1,159.2	1,099.6	864.0
Current Income Tax Expense	141.8	127.0	109.5	109.5	-87.7
Deferred Income Tax Expense	-7.6	-1.5	-1.0	1.7	0.0
Net Income	852.4	778.9	1,050.7	988.5	776.3
Non-controlling Interest	—	0.0	0.0	0.0	-0.9
Profit Attributable to Parent	852.4	778.9	1,050.7	988.5	777.2
Earnings per Share	6,308.00	5,763.00	7,780.00	7,318.00	5,720.00
Diluted EPS	6,519.16	5,763.00	8,035.90	7,560.11	5,944.50

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	3,888.8	4,604.0	4,642.2	4,218.8	3,727.3
I. Cash and cash equivalents	129.9	62.9	94.1	34.0	43.4
1. Cash	129.9	62.9	94.1	34.0	0.0
2. Cash equivalents	—	0.0	0.0	0.0	0.0
II. Short-term financial investments	2,024.0	2,745.0	2,230.0	2,355.0	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	2,024.0	2,745.0	2,230.0	2,355.0	0.0
III. Short-term receivables	684.3	656.7	720.9	550.5	488.1
1. Short-term trade accounts receivable	615.2	556.9	564.3	320.5	0.0
2. Short-term prepayments to suppliers	20.2	45.9	97.9	189.0	0.0
3. Short-term inter-company receivables	—	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	0.0	0.0	0.0	0.0
5. Short-term loan receivables	0.1	0.3	0.3	0.3	0.0
6. Other short-term receivables	79.0	86.8	93.9	81.4	0.0
7. Provision for short-term doubtful debts (*)	-30.3	-33.0	-35.5	-40.6	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	1,024.6	1,115.4	1,534.6	1,250.8	1,072.6
1. Inventories	1,031.2	1,117.8	1,538.8	1,251.9	0.0
2. Provision for decline in value of inventories	-6.6	-2.4	-4.2	-1.1	0.0
V. Other short-term assets	26.0	24.0	62.6	28.4	13.2
1. Short-term prepayments	13.0	10.9	10.3	12.4	0.0
2. Value added tax to be reclaimed	12.3	11.3	38.3	16.0	0.0
3. Taxes and other receivables from state authorities	0.7	1.8	13.9	0.0	0.0
4. Government bonds	—	0.0	0.0	0.0	0.0
5. Other short-term assets	—	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	1,285.1	1,355.2	1,468.3	949.4	890.4
I. Long-term receivables	5.6	0.2	0.2	0.8	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	0.6
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	5.6	0.2	0.2	0.8	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	1,142.8	1,195.9	816.2	787.4	767.9
1. Tangible fixed assets	968.4	1,017.8	634.3	585.6	562.2
- Cost	2,200.0	2,151.3	1,605.1	1,481.8	0.0
- Accumulated depreciation	-1,231.6	-1,133.6	-970.8	-896.2	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	174.4	178.1	181.9	201.8	205.8
- Cost	234.3	234.3	234.3	252.8	0.0
- Accumulated depreciation	-59.9	-56.2	-52.4	-51.0	0.0
III. Investment properties	29.9	30.7	31.5	14.3	14.7
- Cost	44.8	44.8	44.8	17.3	0.0
- Accumulated depreciation	-15.0	-14.2	-13.3	-3.0	0.0
IV. Long-term assets in progress	44.2	48.6	553.6	92.6	69.5
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	44.2	48.6	553.6	92.6	0.0
V. Long-term financial investments	4.6	4.4	4.2	3.9	4.6
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	24.1	24.1	24.1	24.1	0.0
4. Provision for diminution in value of long-term investments	-19.5	-19.7	-19.9	-20.2	0.0
5. Held to maturity investments	—	0.0	0.0	0.0	0.0
6. Other long-term investments	—	0.0	0.0	0.0	0.0
VI. Other long-term assets	58.0	75.4	62.7	50.4	0.0
1. Long-term prepayments	32.1	57.1	45.8	34.6	0.0
2. Deferred income tax assets	25.9	18.3	16.9	15.8	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	33.1
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)	5,173.9	5,959.2	6,110.5	5,168.2	4,617.7
A. LIABILITIES (300=210+330)	1,036.6	1,864.5	1,257.5	876.6	824.5
I. Short -term liabilities	965.9	1,790.3	1,189.2	811.5	757.7
1. Short-term trade accounts payable	391.6	167.3	218.0	364.4	201.2
2. Short-term advances from customers	45.7	35.8	17.1	44.2	24.1
3. Taxes and other payables to state authorities	91.6	76.5	39.3	37.0	0.0
4. Payable to employees	261.9	202.1	200.6	170.7	0.0
5. Short-term acrrued expenses	70.9	59.5	64.7	24.4	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	42.8	48.5	43.7	34.0	49.6
9. Other short-term payables	2.2	525.0	2.2	1.8	0.0
10. Short-term borrowings and financial leases	—	649.9	572.2	114.7	207.4
11. Provision for short-term liabilities	40.2	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	18.9	25.6	31.5	20.2	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	70.7	74.2	68.3	65.1	66.8
1. Long-term trade payables	—	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	0.0	0.0	0.0	0.0
7. Other long-term liabilities	—	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	—	0.0	0.0	0.0	0.0
9. Convertible bonds	—	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	69.9	72.0	64.3	58.8	0.0
13. Fund for technology development	0.7	2.2	4.0	6.3	0.0
14. Provision for severance allowances	—	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	4,137.3	4,094.8	4,852.9	4,291.5	3,793.1
I. Owner's equity	4,137.3	4,094.8	4,852.9	4,291.5	0.0
1. Owner's capital	1,307.5	1,307.5	1,307.5	1,307.5	3,793.1
- Common stock with voting right	1,307,460,710,000.00	1,307,460,710,000.00	1,307,460,710,000.00	1,307,460,710,000.00	1,307,460,710,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	6.8	6.8	6.8	6.8	6.8
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	—	0.0	0.0	0.0	0.0
5. Treasury shares	—	0.00	0.00	0.00	0.00
6. Assets revaluation differences	—	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	0.0	0.0	0.0	0.0
8. Investment and development fund	1,358.1	2,458.1	2,458.1	1,958.9	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	1,464.9	322.4	1,080.6	1,018.4	807.1
- Accumulated retained earning at the end of the previous period	612.5	66.5	29.9	29.9	29.9
- Undistributed earnings in this period	852.4	255.9	1,050.7	988.5	777.2
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	—	0.0	0.0	0.0	3.1
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)	5,173.9	5,959.2	6,110.5	5,168.2	4,617.7

Item	2025	2024	2023	2022	2021
Profit Before Tax	986.6	904.5	1,159.2	1,099.6	864.0
Depreciation of Fixed Assets and Investment Property	119.0	169.7	88.7	81.0	83.9
Provision (Increase)/Reversal	40.7	5.1	3.7	-16.1	0.0
FX Gain/Loss from Revaluation of Monetary Items	-0.2	0.3	0.0	-6.9	0.0
Gain/Loss from Investment Activities	-120.6	-139.1	-203.6	-112.3	0.0
Interest Expense	25.6	24.8	29.5	12.6	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	1,051.2	965.3	1,077.5	1,057.9	859.5
Increase/(Decrease) in Receivables	-54.9	105.1	-268.6	34.2	0.0
Increase/(Decrease) in Inventory	86.7	421.0	-286.9	-177.9	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	289.9	-21.5	-129.1	160.3	0.0
Increase/(Decrease) in Prepaid Expenses	22.9	13.1	0.8	-15.7	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-26.0	-24.8	-29.3	-12.6	0.0
Corporate Income Tax Paid	-124.8	-101.3	-104.9	-101.0	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-31.9	-39.2	-19.4	-43.9	0.0
Net Cash Flow from Operating Activities	1,213.0	1,317.6	240.2	901.3	458.4
Payments for Fixed Assets and Other Long-term Assets	-31.1	-88.7	-486.3	-234.0	-30.5
Proceeds from Disposal of Fixed Assets and Long-term Assets	1.2	1.0	1.7	3.3	4.6
Loans and Purchases of Debt Instruments	-2,809.0	-3,550.0	-2,560.0	-3,770.0	-2,980.0
Receipts from Loan Repayments and Sale of Debt Instruments	3,530.0	3,035.0	2,685.0	3,525.0	2,944.1
Investments in Other Entities	—	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	0.0	0.0	3.2	0.0
Dividends and Interest Income Received	120.6	156.8	179.9	118.7	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	811.7	-446.0	-179.8	-353.7	39.7
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	1,321.4	1,708.1	1,524.4	737.9	794.7
Repayment of Borrowings	-1,971.4	-1,630.3	-1,066.9	-830.6	-799.6
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-1,307.5	-980.6	-457.6	-457.6	-523.0
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	-1,957.4	-902.8	-0.2	-550.3	-527.9
Net Cash Flow During the Period	67.3	-31.2	60.2	-2.7	-19.5
Cash and Cash Equivalents at Beginning of Period	62.9	94.1	34.0	37.0	73.1
FX Difference from Revaluation	-0.3	-0.1	-0.1	-0.2	0.0
Cash and Cash Equivalents at End of Period	129.9	62.9	94.1	34.0	43.4

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	1,360.9	2,033.3	1,337.6	1,368.8	1,397.2	1,749.0	1,223.2	1,278.5	1,463.7	1,841.6	1,258.8	1,283.9
Revenue Deductions	162.8	290.8	191.9	184.5	202.7	290.3	161.4	172.6	205.2	306.8	159.4	131.3
Net Revenue	1,198.1	1,742.5	1,145.7	1,184.2	1,194.5	1,458.7	1,061.8	1,105.8	1,258.5	1,534.7	1,099.5	1,152.6
Cost of Goods Sold	597.9	944.4	584.0	599.0	627.2	792.3	600.6	608.2	746.0	881.6	584.8	591.0
Gross Profit	600.2	798.1	561.7	585.2	567.4	666.4	461.3	497.6	512.5	653.1	514.7	561.7
Financial Income	29.9	29.2	35.9	35.4	32.8	35.6	39.2	34.5	38.8	52.4	55.0	57.8
Financial Expenses	12.0	18.1	20.8	21.5	21.2	29.0	20.8	18.8	21.2	24.9	26.7	20.1
Interest Expense	—	3.0	9.9	6.5	6.2	3.2	7.6	3.7	5.2	7.7	10.3	7.1
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	185.5	446.2	254.3	254.9	201.8	258.5	229.2	225.2	191.8	297.1	254.3	239.1
General and Administrative Expenses	85.3	129.9	82.2	76.4	80.3	83.4	71.2	69.7	88.5	84.3	89.9	69.4
Operating Profit	347.3	233.1	240.3	267.9	296.8	331.1	179.3	218.4	249.8	299.2	198.8	290.8
Other Income	0.9	0.6	0.4	8.6	0.8	1.3	1.2	1.0	1.8	2.0	1.6	0.9
Other Expenses	1.0	13.9	5.7	4.1	4.5	65.0	6.5	6.5	1.6	8.6	13.0	2.5
Other Profit	-0.0	-13.3	-5.3	4.5	-3.7	-63.7	-5.2	-5.5	0.2	-6.5	-11.3	-1.6
Profit Before Tax	347.3	219.9	235.0	272.4	293.2	267.5	174.1	212.9	250.0	292.6	187.4	289.2
Current Income Tax Expense	31.8	35.3	25.7	35.8	26.9	60.3	18.2	20.6	27.9	31.7	21.9	26.2
Deferred Income Tax Expense	-0.2	-0.2	-0.3	-0.3	-0.0	-1.0	-0.1	-0.2	-0.2	-0.2	-0.5	-0.4
Net Income	315.7	184.8	209.6	236.9	266.2	208.2	156.0	192.5	222.2	261.1	166.1	263.3
Non-controlling Interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	315.7	184.8	209.6	236.9	266.2	208.2	156.0	192.5	222.2	261.1	166.1	263.3
Earnings per Share	2,338.00	1,367.00	1,552.00	1,754.00	1,971.00	1,541.00	1,154.00	1,424.00	1,645.00	1,933.00	1,228.00	1,950.00
Diluted EPS	2,414.43	1,413.40	1,603.45	1,811.87	2,036.31	1,592.34	1,193.27	1,472.13	1,699.70	1,997.12	1,270.21	2,014.10

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)	3,991.6	3,887.4	4,298.5	4,165.1	4,399.6	4,604.0	4,833.8	4,708.0	4,745.9	4,635.1	4,647.7	4,551.8
I. Cash and cash equivalents	703.6	129.9	306.0	80.3	150.0	62.9	76.4	61.6	52.7	94.1	67.5	56.4
1. Cash	101.5	129.9	306.0	80.3	150.0	62.9	76.4	61.6	52.7	94.1	67.5	56.4
2. Cash equivalents	602.2	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Short-term financial investments	1,518.6	2,024.0	2,260.0	2,475.0	2,575.0	2,745.0	2,760.0	2,650.0	2,675.0	2,230.0	2,290.0	2,320.0
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	1,518.8	2,024.0	2,260.0	2,475.0	2,575.0	2,745.0	2,760.0	2,650.0	2,675.0	2,230.0	2,290.0	2,320.0
4. Provision for short-term investments held to maturity (*)	-0.1	—	—	—	—	—	—	—	—	—	—	—
III. Short-term receivables	598.1	682.8	570.5	496.8	546.6	656.7	596.8	580.1	575.6	720.9	656.1	639.5
1. Short-term trade accounts receivable	571.7	615.2	491.5	453.6	510.8	556.9	481.7	474.9	472.7	564.3	443.1	407.4
2. Short-term prepayments to suppliers	35.2	20.2	26.6	15.3	13.6	45.9	55.4	68.5	82.9	97.9	85.2	141.7
3. Short-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Short-term loan receivables	—	0.1	0.1	0.2	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3
6. Other short-term receivables	21.8	77.6	86.2	61.4	56.1	86.8	94.8	71.9	55.5	93.9	167.9	130.5
7. Provision for short-term doubtful debts (*)	-30.6	-30.3	-34.0	-33.7	-34.2	-33.0	-35.3	-35.4	-35.8	-35.5	-40.4	-40.3
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	1,121.2	1,024.6	1,137.9	1,087.6	1,094.1	1,115.4	1,373.0	1,387.2	1,395.2	1,527.6	1,574.2	1,489.8
1. Inventories	1,127.1	1,031.2	1,138.9	1,090.1	1,096.5	1,117.8	1,377.8	1,391.6	1,399.3	1,531.7	1,575.0	1,490.7
2. Provision for decline in value of inventories	-6.0	-6.6	-0.9	-2.4	-2.4	-2.4	-4.8	-4.4	-4.2	-4.2	-0.8	-0.8
V. Other short-term assets	50.1	26.0	24.1	25.4	33.9	24.0	27.5	29.1	47.4	62.6	59.9	46.1
1. Short-term prepayments	16.8	13.0	11.7	8.1	14.0	10.9	12.1	8.1	13.6	10.3	15.1	10.3
2. Value added tax to be reclaimed	13.7	12.3	12.4	11.9	12.4	11.3	11.3	13.2	24.0	38.3	44.7	35.8
3. Taxes and other receivables from state authorities	19.5	0.7	—	5.4	7.5	1.8	4.0	7.8	9.8	13.9	0.1	0.0
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)	1,254.1	1,278.4	1,302.4	1,330.0	1,356.0	1,355.2	1,419.5	1,447.2	1,455.4	1,436.5	1,341.8	1,172.9
I. Long-term receivables	5.6	5.6	3.8	0.2	0.2	0.2	0.7	0.7	0.7	0.2	0.2	0.2
1. Long-term trade receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	5.6	5.6	3.8	0.2	0.2	0.2	0.7	0.7	0.7	0.2	0.2	0.2
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	1,121.0	1,142.8	1,159.4	1,182.4	1,200.7	1,195.9	1,255.1	1,201.0	793.0	816.2	790.9	773.0
1. Tangible fixed assets	947.3	968.4	984.1	1,006.2	1,023.5	1,017.8	1,076.1	1,021.1	612.1	634.3	608.6	589.8
- Cost	2,207.7	—	—	—	—	2,151.3	2,125.4	2,038.8	1,603.3	1,605.1	1,559.2	1,518.6
- Accumulated depreciation	-1,260.4	—	—	—	—	-1,133.6	-1,049.3	-1,017.7	-991.2	-970.8	-950.6	-928.8
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	173.7	174.4	175.3	176.2	177.2	178.1	179.0	180.0	180.9	181.9	182.3	183.2
- Cost	234.3	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-60.6	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	29.7	29.9	30.1	30.3	30.5	30.7	30.9	31.1	31.3	31.5	31.7	31.9
- Cost	44.8	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-15.2	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	37.8	44.2	46.4	46.6	47.3	48.6	50.8	132.2	556.9	521.8	459.5	306.2
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	37.8	44.2	46.4	46.6	47.3	48.6	50.8	132.2	556.9	521.8	459.5	306.2
V. Long-term financial investments	4.5	4.6	4.6	4.6	4.6	4.4	4.5	4.5	4.4	4.2	4.2	4.5
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	24.1	24.1	24.1	24.1	24.1	24.1	24.1	24.1	24.1	24.1	24.1	24.1
4. Provision for diminution in value of long-term investments	—	-19.5	-19.5	-19.5	-19.5	-19.7	-19.6	-19.6	-19.7	-19.9	-20.0	-19.6
5. Held to maturity investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Provision for long-term investments held to maturity (*)	-19.6	—	—	—	—	—	—	—	—	—	—	—
6. Other long-term investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VI. Other long-term assets	55.6	51.3	58.1	65.9	72.7	75.4	77.6	77.7	69.1	62.7	55.3	57.2
1. Long-term prepayments	29.4	32.1	39.1	47.2	54.4	57.1	60.2	60.5	52.0	45.8	38.6	41.0
2. Deferred income tax assets	26.2	19.2	19.0	18.7	18.3	18.3	17.3	17.2	17.0	16.9	16.7	16.2
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)	5,245.7	5,165.7	5,601.0	5,495.0	5,755.5	5,959.2	6,253.3	6,155.2	6,201.3	6,071.6	5,989.5	5,724.8
A. LIABILITIES (300=210+330)	802.8	983.3	1,603.3	1,707.0	1,394.5	1,864.5	1,843.7	1,901.6	1,126.1	1,217.8	1,396.8	1,298.2
I. Short -term liabilities	731.3	906.0	1,526.7	1,631.8	1,320.6	1,790.3	1,774.1	1,832.2	1,057.2	1,149.5	1,328.9	1,231.9
1. Short-term trade accounts payable	345.6	391.6	255.6	293.3	328.8	167.3	257.5	224.4	251.4	210.9	244.8	301.5
2. Short-term advances from customers	27.1	45.7	32.9	45.3	24.7	35.8	18.6	17.7	13.6	17.1	11.3	24.0
3. Taxes and other payables to state authorities	76.9	72.1	63.1	87.6	59.2	76.5	58.7	44.3	35.2	39.2	29.3	24.3
4. Payable to employees	121.1	261.9	152.2	142.3	108.7	202.1	146.3	131.3	119.2	200.6	169.1	158.2
5. Short-term acrrued expenses	56.9	70.7	53.8	51.5	49.4	59.5	50.9	54.3	47.8	32.2	19.7	15.6
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	24.5	42.8	62.0	49.2	28.6	48.5	52.4	42.6	24.4	43.7	56.0	44.4
9. Other short-term payables	17.8	2.2	2.6	2.8	15.8	525.0	2.0	459.7	1.8	2.2	1.6	1.5
10. Short-term borrowings and financial leases	—	—	879.2	927.6	688.7	649.9	1,155.2	810.9	544.7	572.2	759.6	621.2
11. Provision for short-term liabilities	40.2	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	21.1	18.9	25.4	32.0	16.7	25.6	32.5	47.0	19.0	31.5	37.5	41.1
13. Price stabilization fund	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Government bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Long-term liabilities	71.5	77.2	76.5	75.2	73.9	74.2	69.6	69.5	69.0	68.3	67.9	66.3
1. Long-term trade payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Other long-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Convertible bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	71.0	76.5	75.5	73.8	72.1	72.0	66.9	66.4	65.4	64.3	63.4	61.2
13. Fund for technology development	0.5	0.7	1.0	1.4	1.8	2.2	2.7	3.1	3.5	4.0	4.5	5.1
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)	4,442.9	4,182.5	3,997.7	3,788.0	4,361.0	4,094.8	4,409.5	4,253.5	5,075.2	4,853.8	4,592.6	4,426.6
I. Owner's equity	4,442.9	4,182.5	3,997.7	3,788.0	4,361.0	4,094.8	4,409.5	4,253.5	5,075.2	4,853.8	4,592.6	4,426.6
1. Owner's capital	1,307.5	1,307.5	1,307.5	1,307.5	1,307.5	1,307.5	1,307.5	1,307.5	1,307.5	1,307.5	1,307.5	1,307.5
- Common stock with voting right	1,307,460,710,000.00	1,307,460,710,000.00	1,307,460,710,000.00	1,307,460,710,000.00	1,307,460,710,000.00	1,307,460,710,000.00	1,307,460,710,000.00	1,307,460,710,000.00	1,307,460,710,000.00	1,307,460,710,000.00	1,307,460,710,000.00	1,307,460,710,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	6.8	6.8	6.8	6.8	6.8	6.8	6.8	6.8	6.8	6.8	6.8	6.8
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	0.00	0.00
6. Assets revaluation differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	1,358.1	1,358.1	1,358.1	1,358.1	2,458.1	2,458.1	2,458.1	2,458.1	2,458.1	2,458.1	2,458.1	2,458.1
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	1,770.6	1,510.1	1,325.3	1,115.7	588.6	322.4	637.2	481.2	1,302.8	1,081.4	820.3	654.2
- Accumulated retained earning at the end of the previous period	1,454.9	612.5	612.5	612.5	322.4	66.5	66.5	66.5	1,080.6	29.9	29.9	29.9
- Undistributed earnings in this period	315.7	897.6	712.8	503.1	266.2	255.9	570.7	414.7	222.2	1,051.5	790.4	624.3
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)	5,245.7	5,165.7	5,601.0	5,495.0	5,755.5	5,959.2	6,253.3	6,155.2	6,201.3	6,071.6	5,989.5	5,724.8

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	347.3	186.0	235.0	272.4	293.2	267.5	174.1	212.9	250.0	291.9	187.4	289.2
Depreciation of Fixed Assets and Investment Property	29.6	29.7	29.9	30.0	29.4	85.7	32.4	28.2	23.4	23.9	22.7	21.2
Provision (Increase)/Reversal	1.5	36.9	0.7	1.5	1.7	0.5	2.2	1.0	1.3	-0.5	2.8	1.4
FX Gain/Loss from Revaluation of Monetary Items	1.0	0.2	-0.4	-0.2	0.1	2.0	-1.5	-1.1	0.9	-1.2	1.0	2.4
Gain/Loss from Investment Activities	-26.0	-24.0	-32.9	-33.4	-30.3	-34.1	-33.4	-33.6	-38.0	-48.9	-53.7	-54.9
Interest Expense	—	3.0	9.9	6.5	6.2	8.2	7.6	3.7	5.2	7.7	10.3	7.1
Gain/Loss on Disposal of Fixed Assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Adjustments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	353.4	232.0	242.2	276.8	300.2	329.8	181.5	211.1	242.9	272.9	170.6	266.3
Increase/(Decrease) in Receivables	20.2	-117.2	-49.2	67.3	44.2	-47.1	12.1	19.1	121.0	-124.6	-5.2	-58.3
Increase/(Decrease) in Inventory	-95.9	107.7	-48.8	6.5	21.3	260.0	13.8	7.7	139.5	36.2	-84.4	-150.6
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-228.6	258.8	-22.0	21.0	32.1	3.4	60.1	11.7	-96.7	20.5	-44.4	83.3
Increase/(Decrease) in Prepaid Expenses	-1.2	0.1	4.5	13.3	5.0	5.0	1.7	5.4	1.0	-0.8	-1.2	5.6
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	—	-3.5	-10.0	-6.4	-6.1	-8.3	-7.5	-3.7	-5.2	-7.9	-10.3	-6.8
Corporate Income Tax Paid	-34.2	-35.0	-53.4	0.0	-36.3	-60.4	-8.2	-8.4	-24.3	-29.9	-16.2	-39.7
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-7.7	-6.5	-6.6	-10.0	-8.9	-6.8	-14.5	-5.5	-12.4	-5.8	-3.4	-5.5
Net Cash Flow from Operating Activities	6.0	436.4	56.7	368.3	351.5	475.6	238.9	237.4	365.6	160.5	5.5	94.3
Payments for Fixed Assets and Other Long-term Assets	-24.3	-3.6	-7.0	-11.4	-9.1	-43.4	-11.0	-20.0	-14.3	-114.3	-170.5	-165.1
Proceeds from Disposal of Fixed Assets and Long-term Assets	-0.0	1.1	0.0	0.2	-0.0	0.1	0.0	0.3	0.5	1.1	0.1	0.5
Loans and Purchases of Debt Instruments	-560.0	-740.0	-125.0	-524.0	-1,420.0	-1,060.0	-495.0	-605.0	-1,390.0	-1,175.0	-125.0	-225.0
Receipts from Loan Repayments and Sale of Debt Instruments	1,095.0	976.0	340.0	624.0	1,590.0	1,075.0	385.0	630.0	945.0	1,235.0	155.0	395.0
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	57.4	33.4	9.5	18.8	58.9	44.2	10.4	22.9	79.3	106.8	7.7	18.1
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	568.1	266.9	217.5	107.6	219.7	15.9	-110.5	28.2	-379.5	53.6	-132.7	23.5
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	—	-190.3	159.1	824.0	528.6	229.9	472.3	771.3	234.6	443.3	411.0	396.9
Repayment of Borrowings	—	-689.0	-207.5	-585.1	-489.8	-735.2	-128.0	-505.1	-262.0	-630.8	-272.6	-48.8
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	—	0.0	0.0	-784.5	-523.0	0.0	-457.6	-523.0	0.0	0.0	0.0	-457.6
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	—	-879.2	-48.3	-545.6	-484.2	-505.3	-113.3	-256.8	-27.4	-187.5	138.4	-109.6
Net Cash Flow During the Period	574.1	-175.9	225.9	-69.7	87.1	-13.7	15.1	8.8	-41.4	26.6	11.1	8.2
Cash and Cash Equivalents at Beginning of Period	129.9	306.0	80.3	150.0	62.9	94.1	94.1	94.1	94.1	34.0	34.0	34.0
FX Difference from Revaluation	-0.3	-0.3	-0.1	0.1	0.1	0.1	-0.3	0.1	-0.0	-0.0	-0.0	0.0
Cash and Cash Equivalents at End of Period	703.6	129.9	306.0	80.3	150.0	62.9	76.4	61.6	52.7	94.1	67.5	56.4

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DHG

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