DTI

Đầu tư Đức Trung ·UPCOM ·2026Q1

▼ Under pressure

Leverage and liquidity require close discipline Debt/equity 0.02x

Price

1,900

Latest close

02 Jun 2026

P/E 118.88x

P/B 0.19x

EPS 16

BVPS 10,081

ROE 0.2%

ROA 0.1%

Profit Margin 0.0%

Asset Turnover 1.49x

Equity Mult. 2.88x

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

What Is Changing

On a TTM 2026Q1 basis, DTI has not moved the needle on revenue, but profitability has edged up slightly — earnings have been recovering gradually over multiple periods. More notably, profit relies heavily on non-core sources while operating cash flow is negative — these two factors together suggest earnings quality needs cautious evaluation.

	                            
	                                TTM REVENUE
	                            
	                                    VND 582bn
	                                
−7.6%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 0bn
	                                
+25.4%YoY

	                            
	                                Net financial result / PBT
	                            
	                                    242.8%
	                                
affects earnings quality

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	157.6	151.1	102.4	171.1	175.4	148.6	162.0	144.3	165.7	90.7	37.6	99.5
Growth	+4%	+48%	-40%	-2%	+18%	-8%	+12%	-13%	+83%	+141%	-62%	—
Net Income	0.0	0.0	0.0	0.1	0.0	0.0	0.0	0.1	0.0	0.1	0.1	0.0
Net Margin	0.03%	0.03%	0.03%	0.06%	0.03%	0.03%	0.02%	0.04%	0.03%	0.07%	0.18%	0.05%

Drivers of DTI's profit

TTM

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

Financial income ↑ 5.3bn

Administrative expenses ↓ 0.2bn

Tax ↓ 0.1bn

Finance costs ↑ 4.8bn

Gross profit ↓ 0.9bn

TTM

Net profit attributable to parent declined vs prior quarter, mainly due to higher finance costs. Supporting and offsetting drivers:

Financial income ↑ 1.6bn

Tax ↓ 0.0bn

Finance costs ↑ 1.5bn

Administrative expenses ↑ 0.0bn

Gross profit ↓ 0.0bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 0.1% = 0.0% × 2.14 × 2.17

2026Q1 0.2% = 0.0% × 1.49 × 2.88

ROE is broadly flat at 0.2% — the components are offsetting one another.

Net margin: 0.0% +0.0pp Asset turnover: 1.49x -0.65x Leverage: 2.88x +0.71x

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 stands at 0.04%, broadly flat versus the same period. Supportive factors and pressure points are offsetting one another.

Margin is nearly flat but the underlying components are moving — this is a transitional phase, more time is needed to see the real trend.

Profitability trend

Net Margin 0.04% +0.0pp

Gross Margin 0.08% −0.1pp

SG&A / Revenue 0.14% −0.0pp

Non-core / Revenue 0.12% +0.1pp

TTM YoY · 2025Q1 -> 2026Q1

Watchpoints

Financial result is supporting margin

Margin support from financial result remains high (242.8% of PBT) — sustainability should be monitored.

Is capital being used efficiently?

Capital efficiency should be read in industry context — ROIC of 0.1% may fluctuate with business specifics.

Is capital being deployed efficiently?

ROIC stands at 0.07%, broadly flat versus the same period. That translates to 0.07 in after-tax operating profit for every 100 units of operating capital. NOPAT margin steady, but capital turnover fell 0.79x, while invested capital expanded strongly by 99bn — the two factors are offsetting each other, keeping overall ROIC nearly unchanged.

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

CAPITAL EFFICIENCY TREND

ROIC 0.07% −0.0pp

NOPAT Margin 0.04% +0.0pp

Capital Turnover 1.61x −0.79x

Average Invested Capital 360.6bn +98.5bn

Balance Sheet

ROIC above should be read with industry context — the balance sheet below adds perspective. Capital structure is typical for the real estate sector — liabilities at 2.54x equity, net debt at 2.20x equity.

Over the last 12 months, working capital absorbed 38.3bn of cash, mainly because of higher receivables. Part of that drag was offset by higher payables.

Working Capital Drivers

Receivables increased → lower CFO: −50.5bn

Inventories were broadly stable → neutral CFO: —

Payables increased → higher CFO: +12.2bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 2.9 days versus the same period last year. The main moves came from DIO fell 0.3 days, DSO fell 6.1 days, and DPO fell 3.6 days.

Improvement comes mainly from faster receivables collection — reflects the quality of receivables management.

Working capital metrics in this industry should be read alongside business model specifics — DSO/DIO/DPO/CCC can be distorted by operational factors not reflected in raw numbers.

Working Capital Efficiency

Receivables 4.7 days −6.1 days

Inventory 0.8 days −0.3 days

Payables 8.1 days −3.6 days

Cash Conversion Cycle -2.6 days −2.9 days

Is financial risk significant?

High leverage combined with negative operating cash flow — this area needs close monitoring.

Leverage & Liquidity

Leverage warrants monitoring, with net debt / equity at 2.20x and interest coverage only at 0.02x.

At present, short-term debt accounts for 99.5% of total debt, cash equals 0.7% of debt, and total debt stands at 300.7bn.

Leverage should be read alongside project structure, regulated assets, or industry-specific capital recovery.

Watchpoints

Net leverage is elevated

Net debt / equity stands at 2.20x, increasing balance-sheet pressure.

Interest coverage is thin

Interest coverage is 0.02x, leaving limited room to absorb financing costs.

Leverage and liquidity trend

Net Debt / Equity 2.20x +1.08x

Interest Coverage 0.02x −0.02x

Cash / Debt 0.7% −0.5pp

Short-term Debt / Total Debt 99.5% +0.5pp

CFO / NI -299.13x −404.02x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

High leverage combined with cash flow below reveals the actual liquidity pressure. Operating cash flow reached -35.5bn in 2025, against investing cash flow of -177.1bn.

Post-investment cash flow was negative +212.6bn. Financing cash flow was positive +213.5bn.

CFO / net income was -299.13x.

Track how much investment can be funded internally from operating cash flow.

FCF and CFO in this industry should be read alongside investment cycles and business model specifics.

Cash Conversion

CFO TTM 64.5bn −82.5bn

Cash Capex — —

FCF TTM — —

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 leverage and liquidity, with interest coverage at 0.02x.

Watchpoint: the earnings mix still needs monitoring, with net financial result still accounting for 242.8% of PBT and CFO / net income currently at -299.13x.

Key risk: leverage and liquidity still require discipline, with interest coverage only at 0.02x.

Statement Data

Item	2025	2024	2023	2022
Revenue	600.1	620.7	314.2	169.5
Revenue Deductions	—	0.0	0.0	0.0
Net Revenue	600.1	620.7	314.2	169.5
Cost of Goods Sold	599.7	619.0	309.5	161.3
Gross Profit	0.5	1.7	4.7	8.2
Financial Income	17.0	13.1	12.1	4.2
Financial Expenses	16.4	13.2	15.5	2.8
Interest Expense	16.2	12.5	12.7	2.1
Share of Associates and Joint Ventures	—	0.0	0.0	0.0
Selling Expenses	—	0.0	0.0	0.1
General and Administrative Expenses	0.8	1.1	0.7	0.8
Operating Profit	0.3	0.4	0.5	8.7
Other Income	0.0	0.0	1.8	0.0
Other Expenses	0.0	0.1	2.2	0.0
Other Profit	-0.0	-0.1	-0.4	-0.0
Profit Before Tax	0.3	0.3	0.1	8.7
Current Income Tax Expense	0.1	0.1	0.1	1.7
Deferred Income Tax Expense	—	0.0	0.0	0.0
Net Income	0.2	0.2	0.1	6.9
Non-controlling Interest	—	0.0	0.0	0.0
Profit Attributable to Parent	0.2	0.2	0.1	6.9
Earnings per Share	16.00	13.00	5.00	573.00
Diluted EPS	16.18	13.03	4.31	572.53

Item	2025	2024	2023	2022
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	416.7	202.0	83.3	226.5
I. Cash and cash equivalents	1.7	0.8	0.8	1.1
1. Cash	1.7	0.8	0.8	1.1
2. Cash equivalents	—	0.0	0.0	0.0
II. Short-term financial investments	213.7	0.0	0.0	0.0
1. Available for sale securities	—	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	0.0	0.0	0.0
3. Held to maturity investments	213.7	0.0	0.0	0.0
III. Short-term receivables	200.7	199.3	79.2	191.4
1. Short-term trade accounts receivable	8.7	8.8	55.2	7.5
2. Short-term prepayments to suppliers	11.5	31.5	11.6	26.7
3. Short-term inter-company receivables	—	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	0.0	0.0	0.0
5. Short-term loan receivables	13.8	32.7	0.3	11.8
6. Other short-term receivables	166.7	126.3	12.0	145.3
7. Provision for short-term doubtful debts (*)	—	0.0	0.0	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0
IV. Inventories	0.6	1.9	3.2	30.2
1. Inventories	0.6	1.9	3.2	30.2
2. Provision for decline in value of inventories	—	0.0	0.0	0.0
V. Other short-term assets	0.0	0.1	0.1	3.8
1. Short-term prepayments	—	0.0	0.0	2.6
2. Value added tax to be reclaimed	0.0	0.1	0.1	1.2
3. Taxes and other receivables from state authorities	—	0.0	0.0	0.0
4. Government bonds	—	0.0	0.0	0.0
5. Other short-term assets	—	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	63.9	64.8	222.6	77.7
I. Long-term receivables	—	0.0	100.0	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	0.0	0.0	0.0
3. Capital at inter-company	—	0.0	0.0	0.0
4. Long-term inter-company receivables	—	0.0	0.0	0.0
5. Long-term loan receivables	—	0.0	0.0	0.0
6. Other long-term receivables	—	0.0	100.0	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0
II. Fixed assets	0.6	0.7	0.8	1.0
1. Tangible fixed assets	0.6	0.7	0.8	1.0
- Cost	1.1	1.1	1.1	1.1
- Accumulated depreciation	-0.6	-0.4	-0.3	-0.1
2. Financial leased fixed assets	—	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0
3. Intangible fixed assets	—	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0
III. Investment properties	—	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0
IV. Long-term assets in progress	—	0.0	0.0	0.0
1. Long-term production in progress	—	0.0	0.0	0.0
2. Construction in progress	—	0.0	0.0	0.0
V. Long-term financial investments	62.7	62.7	121.3	76.6
1. Investments in subsidiaries	—	0.0	0.0	0.0
2. Investments in associates, joint-ventures	52.5	52.5	66.7	66.7
3. Investments in other entities	10.2	10.2	55.2	10.2
4. Provision for diminution in value of long-term investments	—	0.0	-0.5	-0.2
5. Held to maturity investments	—	0.0	0.0	0.0
6. Other long-term investments	—	0.0	0.0	0.0
VI. Other long-term assets	0.7	1.4	0.4	0.1
1. Long-term prepayments	0.7	1.4	0.4	0.1
2. Deferred income tax assets	—	0.0	0.0	0.0
3. Long-term equipment, supplies, spare parts	—	0.0	0.0	0.0
4. Other long-term assets	—	0.0	0.0	0.0
5. Goodwill	—	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	480.6	266.7	306.0	304.2
A. LIABILITIES (300=210+330)	344.7	131.0	170.4	168.7
I. Short -term liabilities	343.3	129.4	70.1	168.2
1. Short-term trade accounts payable	11.6	12.8	53.3	37.9
2. Short-term advances from customers	0.2	0.2	0.1	14.0
3. Taxes and other payables to state authorities	0.1	0.1	2.6	1.8
4. Payable to employees	0.0	0.0	0.0	0.0
5. Short-term acrrued expenses	17.3	15.0	3.0	11.6
6. Short-term inter-company payables	—	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	0.0	0.0	0.0
8. Short-term unearned revenue	—	0.0	0.0	0.0
9. Other short-term payables	0.2	1.0	2.0	2.0
10. Short-term borrowings and financial leases	313.8	100.2	9.2	100.9
11. Provision for short-term liabilities	—	0.0	0.0	0.0
12.. Bonus and welfare fund	—	0.0	0.0	0.0
13. Price stabilization fund	—	0.0	0.0	0.0
14. Government bonds	—	0.0	0.0	0.0
II. Long-term liabilities	1.4	1.6	100.3	0.5
1. Long-term trade payables	—	0.0	0.0	0.0
2. Long-term advances from customers	—	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	0.0
4. Inter-company payables on business capital	—	0.0	0.0	0.0
5. Long-term inter-company payables	—	0.0	0.0	0.0
6. Long-term unearned revenue	—	0.0	0.0	0.0
7. Other long-term liabilities	—	0.0	0.0	0.0
8. Long-term borrowings and financial leases	1.4	1.6	100.3	0.5
9. Convertible bonds	—	0.0	0.0	0.0
10. Preferred stock (Debts)	—	0.00	0.00	0.00
11. Deferred income tax liabilities	—	0.0	0.0	0.0
12. Provision for long-term liabilities	—	0.0	0.0	0.0
13. Fund for technology development	—	0.0	0.0	0.0
14. Provision for severance allowances	—	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	135.9	135.7	135.6	135.5
I. Owner's equity	135.9	135.7	135.6	135.5
1. Owner's capital	134.9	134.9	134.9	121.0
- Common stock with voting right	134,888,000,000.00	134,888,000,000.00	134,888,000,000.00	120,977,540,000.00
- Preferred stock	—	0.00	0.00	0.00
2. Share premium	—	0.0	0.0	0.0
3. Convertible bond option	—	0.0	0.0	0.0
4. Other capital of owners	—	0.0	0.0	0.0
5. Treasury shares	—	0.00	0.00	0.00
6. Assets revaluation differences	—	0.0	0.0	0.0
7. Foreign exchange differences	—	0.0	0.0	0.0
8. Investment and development fund	—	0.0	0.0	0.0
9. Fund to support corporate restructuring	—	0.0	0.0	0.0
10. Other funds from owner's equity	—	0.0	0.0	0.0
11. Undistributed earnings after tax	1.1	0.8	0.7	14.5
- Accumulated retained earning at the end of the previous period	0.8	0.7	0.6	7.6
- Undistributed earnings in this period	0.2	0.2	0.1	6.9
12. Reserves for investment in construction	—	0.0	0.0	0.0
13. Minority's interest	—	0.0	0.0	0.0
14. Financial reserves	—	0.0	0.0	0.0
II. Other resources and funds	—	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	0.0	0.0	0.0
2. Funds invested in fixed assets	—	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	480.6	266.7	306.0	304.2

Item	2025	2024	2023	2022
Profit Before Tax	0.3	0.3	0.1	8.7
Depreciation of Fixed Assets and Investment Property	0.1	0.1	0.1	0.1
Provision (Increase)/Reversal	—	0.2	0.3	0.2
FX Gain/Loss from Revaluation of Monetary Items	—	0.0	0.0	0.0
Gain/Loss from Investment Activities	-17.0	-12.8	-12.1	-0.2
Interest Expense	16.2	12.5	12.7	2.6
Gain/Loss on Disposal of Fixed Assets	—	0.0	0.0	0.0
Interest Income and Dividends	—	0.0	0.0	0.0
Amortization of Goodwill	—	0.0	0.0	0.0
Other Adjustments	—	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	-0.4	0.4	1.2	11.4
Increase/(Decrease) in Receivables	-20.9	26.6	13.8	-78.4
Increase/(Decrease) in Inventory	1.3	1.4	26.9	-30.2
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-2.9	-41.7	-3.8	20.1
Increase/(Decrease) in Prepaid Expenses	0.7	-0.9	2.3	-2.7
Changes in Trading Securities	—	0.0	0.0	0.0
Interest Paid	-13.1	-1.0	-12.7	-0.2
Corporate Income Tax Paid	-0.1	-1.7	-0.1	-1.6
Other Operating Receipts	—	0.0	0.0	0.0
Other Operating Payments	—	0.0	0.0	0.0
Net Cash Flow from Operating Activities	-35.5	-16.9	27.6	-81.4
Payments for Fixed Assets and Other Long-term Assets	—	0.0	0.0	0.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	-231.2	-32.4	0.0	-44.6
Receipts from Loan Repayments and Sale of Debt Instruments	36.4	0.0	11.5	41.0
Investments in Other Entities	—	0.0	-45.0	-24.4
Proceeds from Investments in Other Entities	—	45.0	0.0	0.0
Dividends and Interest Income Received	17.7	12.0	0.1	0.2
Increase/(Decrease) in Term Deposits	—	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	0.0	0.0	0.0
Other Investing Receipts	—	0.0	0.0	0.0
Other Investing Payments	—	0.0	0.0	0.0
Net Cash Flow from Investing Activities	-177.1	24.7	-33.4	-27.7
Proceeds from Equity Issuance and Capital Contributions	—	0.00	0.00	0.00
Share Repurchases	—	0.00	0.00	0.00
Proceeds from Borrowings	223.4	13.6	19.3	104.2
Repayment of Borrowings	-9.9	-21.4	-13.7	-3.6
Repayment of Finance Leases	—	0.0	0.0	0.0
Dividends Paid	—	0.0	0.0	0.0
Other Financing Receipts	—	0.0	0.0	0.0
Other Financing Payments	—	0.0	0.0	0.0
Net Cash Flow from Financing Activities	213.5	-7.7	5.6	100.6
Net Cash Flow During the Period	0.9	-0.0	-0.3	-8.6
Cash and Cash Equivalents at Beginning of Period	0.8	0.8	1.1	9.7
FX Difference from Revaluation	—	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	1.7	0.8	0.8	1.1

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	157.6	151.1	102.4	171.1	175.4	148.6	162.0	144.3	165.7	90.7	37.6	99.5
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	157.6	151.1	102.4	171.1	175.4	148.6	162.0	144.3	165.7	90.7	37.6	99.5
Cost of Goods Sold	157.4	151.0	102.3	171.0	175.3	148.4	161.8	143.5	165.3	90.0	36.2	97.6
Gross Profit	0.1	0.1	0.1	0.1	0.1	0.3	0.2	0.8	0.4	0.7	1.4	1.9
Financial Income	4.7	5.0	4.6	4.2	3.2	3.5	3.6	3.0	3.0	3.1	3.0	3.0
Financial Expenses	4.6	4.9	4.5	3.9	3.1	3.4	3.4	3.3	3.2	3.6	4.0	4.6
Interest Expense	4.6	4.9	4.4	3.9	3.0	3.4	3.1	3.1	3.1	3.6	4.0	4.6
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
General and Administrative Expenses	0.2	0.2	0.2	0.3	0.2	0.3	0.2	0.4	0.2	0.1	0.3	0.2
Operating Profit	0.1	0.1	0.0	0.2	0.1	0.1	0.2	0.1	0.1	0.1	0.1	0.1
Other Income	—	0.0	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Expenses	—	0.0	0.0	0.0	—	0.0	0.1	0.0	0.0	0.0	0.0	0.0
Other Profit	—	0.0	-0.0	-0.0	—	-0.0	-0.1	-0.0	0.0	0.0	0.0	-0.0
Profit Before Tax	0.1	0.1	0.0	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1
Current Income Tax Expense	0.0	0.0	0.0	0.0	0.0	0.1	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	0.0	0.0	0.0	0.1	0.0	0.0	0.0	0.1	0.0	0.1	0.1	0.0
Non-controlling Interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	0.0	0.0	0.0	0.1	0.0	0.0	0.0	0.1	0.0	0.1	0.1	0.0
Earnings per Share	3.11	3.40	2.21	7.26	3.31	3.02	2.27	4.14	3.60	4.70	5.02	4.00
Diluted EPS	3.11	3.40	2.21	7.26	3.31	3.02	2.27	4.14	3.60	4.70	5.02	4.00

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)	409.8	418.5	333.9	322.1	244.0	203.1	95.1	102.2	203.1	182.1	177.1	210.6
I. Cash and cash equivalents	2.2	1.7	2.3	2.0	1.8	0.8	1.2	3.1	1.8	0.8	2.0	0.5
1. Cash	2.2	1.7	2.3	2.0	1.8	0.8	1.2	3.1	1.8	0.8	2.0	0.5
2. Cash equivalents	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Short-term financial investments	211.6	213.7	123.4	123.4	51.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	211.6	213.7	123.4	123.4	51.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Short-term receivables	195.5	201.2	206.3	194.7	189.3	199.3	92.0	97.1	199.4	179.3	163.5	197.7
1. Short-term trade accounts receivable	6.4	8.7	22.6	10.9	8.7	8.8	16.0	20.2	28.9	55.2	42.3	79.6
2. Short-term prepayments to suppliers	17.3	12.0	1.0	1.0	22.5	31.5	37.5	37.9	7.1	11.8	11.8	11.8
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	—	13.8	10.5	12.7	31.0	32.7	29.0	32.9	0.3	0.3	0.3	0.3
6. Other short-term receivables	171.8	166.7	172.1	170.1	127.1	126.3	9.6	6.0	163.0	112.0	109.0	106.0
7. Provision for short-term doubtful debts (*)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	0.6	1.9	1.9	1.9	1.9	1.9	1.9	1.9	2.0	2.0	11.6	11.8
1. Inventories	0.6	1.9	1.9	1.9	1.9	1.9	1.9	1.9	2.0	2.0	11.6	11.8
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	—	0.0	0.0	0.0	0.0	1.2	0.1	0.1	0.0	0.0	0.0	0.6
1. Short-term prepayments	—	—	—	—	—	1.1	0.0	0.0	0.0	0.0	0.0	0.6
2. Value added tax to be reclaimed	—	0.0	0.0	0.0	0.0	0.1	0.1	0.1	0.0	0.0	0.0	0.0
3. Taxes and other receivables from state authorities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	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)	63.8	63.9	64.1	64.3	64.6	63.6	178.5	178.1	77.5	122.5	122.6	122.6
I. Long-term receivables	—	—	—	—	—	0.0	100.0	100.0	0.0	0.0	0.0	0.0
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	—	—	—	—	—	0.0	100.0	100.0	0.0	0.0	0.0	0.0
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	0.5	0.6	0.6	0.6	0.7	0.7	0.7	0.8	0.8	0.8	0.9	0.9
1. Tangible fixed assets	0.5	0.6	0.6	0.6	0.7	0.7	0.7	0.8	0.8	0.8	0.9	0.9
- Cost	1.1	—	—	—	—	1.1	1.1	1.1	1.1	1.1	1.1	1.1
- Accumulated depreciation	-0.6	—	—	—	—	-0.4	-0.4	-0.4	-0.3	-0.3	-0.2	-0.2
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	—	—	—	—	—	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
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	—	—	—	—	—	0.0	1.4	0.8	0.0	0.0	0.0	0.0
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	—	—	—	—	—	0.0	1.4	0.8	0.0	0.0	0.0	0.0
V. Long-term financial investments	62.7	62.7	62.7	62.7	62.7	62.7	76.1	76.1	76.6	121.6	121.6	121.6
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	52.5	52.5	52.5	52.5	52.5	52.5	66.7	66.7	66.7	66.7	66.7	66.7
3. Investments in other entities	10.2	10.2	10.2	10.2	10.2	10.2	10.2	10.2	10.2	55.2	55.2	55.2
4. Provision for diminution in value of long-term investments	—	—	—	—	—	0.0	-0.7	-0.7	-0.2	-0.2	-0.2	-0.2
5. Held to maturity investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VI. Other long-term assets	0.5	0.7	0.8	1.0	1.2	0.2	0.3	0.3	0.0	0.1	0.1	0.1
1. Long-term prepayments	0.5	0.7	0.8	1.0	1.2	0.2	0.3	0.3	0.0	0.1	0.1	0.1
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)	473.6	482.4	398.0	386.4	308.5	266.7	273.7	280.3	280.6	304.6	299.7	333.3
A. LIABILITIES (300=210+330)	337.6	346.5	262.1	250.6	172.8	131.0	138.0	144.6	144.8	168.8	163.9	197.7
I. Short -term liabilities	336.2	345.1	260.7	249.1	171.2	129.4	36.4	43.0	44.8	68.9	163.6	197.1
1. Short-term trade accounts payable	16.2	11.6	23.7	11.9	9.6	12.8	21.2	25.9	30.7	52.0	40.4	77.8
2. Short-term advances from customers	0.2	0.2	0.2	0.2	0.2	0.2	0.1	0.1	0.2	0.1	0.3	0.1
3. Taxes and other payables to state authorities	0.1	0.1	0.1	0.2	0.1	0.1	0.2	1.8	2.4	2.6	2.0	1.7
4. Payable to employees	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Short-term acrrued expenses	20.1	18.1	12.0	12.1	9.0	15.0	12.5	9.5	6.0	3.0	5.7	7.3
6. Short-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Other short-term payables	0.2	1.1	1.1	1.1	1.1	1.0	2.1	2.1	2.0	2.0	2.0	2.0
10. Short-term borrowings and financial leases	299.3	313.8	223.6	223.6	151.1	100.2	0.2	3.5	3.5	9.2	113.2	108.3
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Price stabilization fund	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Government bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Long-term liabilities	1.4	1.4	1.5	1.5	1.5	1.6	101.6	101.7	100.0	100.0	0.4	0.6
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	1.4	1.4	1.5	1.5	1.5	1.6	101.6	101.7	100.0	100.0	0.4	0.6
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)	136.0	135.9	135.9	135.9	135.8	135.7	135.7	135.7	135.8	135.8	135.7	135.6
I. Owner's equity	136.0	135.9	135.9	135.9	135.8	135.7	135.7	135.7	135.8	135.8	135.7	135.6
1. Owner's capital	134.9	134.9	134.9	134.9	134.9	134.9	134.9	134.9	134.9	134.9	134.9	121.0
- Common stock with voting right	134,888,000,000.00	134,888,000,000.00	134,888,000,000.00	134,888,000,000.00	134,888,000,000.00	134,888,000,000.00	134,888,000,000.00	134,888,000,000.00	134,888,000,000.00	134,888,000,000.00	134,888,000,000.00	120,977,540,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Treasury shares	—	—	—	—	—	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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	1.1	1.1	1.0	1.0	0.9	0.8	0.8	0.8	0.9	0.9	0.8	14.6
- Accumulated retained earning at the end of the previous period	1.1	0.8	0.8	0.8	0.8	0.7	0.7	0.7	0.9	0.6	0.6	14.4
- Undistributed earnings in this period	0.0	0.2	0.2	0.1	0.0	0.2	0.1	0.1	0.0	0.3	0.2	0.2
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)	473.6	482.4	398.0	386.4	308.5	266.7	273.7	280.3	280.6	304.6	299.7	333.3

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	0.1	0.1	0.0	0.1	0.1	0.1	0.1	0.1	0.1	-0.2	0.1	0.1
Depreciation of Fixed Assets and Investment Property	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Provision (Increase)/Reversal	-14.6	—	—	—	—	-0.2	0.0	0.2	0.0	0.3	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-4.7	-5.0	-4.6	-4.2	-3.2	-3.5	-3.6	-3.0	-3.0	-1.2	-3.0	-3.0
Interest Expense	4.6	4.9	4.4	3.9	3.0	2.9	3.1	3.2	3.1	-1.1	7.6	0.9
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	-14.6	-0.0	-0.1	-0.1	-0.1	-0.6	-0.3	0.4	0.2	-2.2	4.7	-2.0
Increase/(Decrease) in Receivables	-18.1	10.5	-9.2	-33.6	11.4	0.0	13.2	28.8	-20.0	-15.1	39.5	1.4
Increase/(Decrease) in Inventory	—	1.3	—	—	—	0.0	0.1	1.3	0.0	8.3	1.6	-0.5
Increase/(Decrease) in Payables (Excl. Interest and CIT)	3.3	0.2	-2.3	11.0	-11.8	-10.4	-4.7	-5.9	-21.5	26.6	-47.3	17.1
Increase/(Decrease) in Prepaid Expenses	0.1	0.1	0.2	0.2	0.2	-1.1	0.1	0.1	0.0	-0.4	0.6	1.0
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-0.4	-12.8	9.6	-9.6	-0.4	0.0	-0.1	-0.2	-0.1	-12.4	-0.1	-0.2
Corporate Income Tax Paid	-0.1	0.0	-0.1	—	—	0.0	-1.7	0.0	0.0	0.0	0.0	-0.1
Other Operating Receipts	—	—	—	—	—	0.0	0.0	-0.2	0.2	0.0	0.0	0.0
Other Operating Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Operating Activities	-29.7	-0.7	-1.9	-32.1	-0.7	-12.1	6.5	24.3	-41.3	4.9	-0.9	16.6
Payments for Fixed Assets and Other Long-term Assets	—	—	—	—	—	1.4	-0.5	-0.8	0.0	0.0	0.0	0.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	15.9	-107.7	-19.9	-52.5	-51.0	-3.7	3.9	-32.6	0.0	0.0	0.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	14.2	33.6	—	-11.4	0.0	0.0	0.0	0.0	0.0	0.0	10.5
Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	-45.0
Proceeds from Investments in Other Entities	—	—	—	—	13.2	14.2	0.0	0.0	45.0	0.0	0.0	0.0
Dividends and Interest Income Received	14.2	3.4	0.0	14.2	0.0	-0.0	-8.5	9.0	3.0	-1.8	0.0	-3.0
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	30.1	-90.1	2.2	-40.1	-49.2	11.8	-5.1	-24.4	48.0	-1.8	0.0	-37.5
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	-9.8	109.9	-19.6	82.3	50.9	-20.3	-3.3	1.4	0.3	6.0	2.5	10.1
Repayment of Borrowings	9.8	-19.7	19.6	-9.8	0.0	20.3	0.0	-0.0	-6.0	-10.3	-0.0	-3.4
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	0.0	90.2	-0.0	72.4	50.9	-0.0	-3.3	1.4	-5.7	-4.3	2.5	6.7
Net Cash Flow During the Period	0.4	-0.6	0.3	0.2	1.0	-0.4	-1.9	1.3	1.0	-1.2	1.5	-14.1
Cash and Cash Equivalents at Beginning of Period	1.7	2.3	2.0	1.8	0.8	0.8	0.8	0.8	0.8	1.1	1.1	1.1
FX Difference from Revaluation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	2.2	1.7	2.3	2.0	1.8	0.8	1.2	3.1	1.8	0.8	2.0	0.5

Explore Other Stocks In The Same Sector

VIC, KSF, NVL, TCH, TAL, DIG, IJC, DXG, TDC, BCR, D2D, SZG, TIP, CEO, QCG, VC3, CKG, CSC, NHA, SCR, ITC, PHH, XDH, LSG, HAR, D11, HD6, PLA, AAV, VHD, KPF, SSH

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

DTI

What Is Changing

Drivers of DTI's profit

Financial Highlights

Is the profit sustainable?

What is driving the margin? ●

Is capital being used efficiently?

Is capital being deployed efficiently? ●

Balance Sheet ●

Working Capital Efficiency ●

Is financial risk significant?

Leverage & Liquidity ▼

Cash Flow ●

Investment Takeaway

Statement Data

What is driving the margin?

Is capital being deployed efficiently?

Balance Sheet

Working Capital Efficiency

Leverage & Liquidity

Cash Flow