ITD

Listed Company · HOSE

Price

16,300

Latest close

03 Apr 2026

P/E 6.8x

EPS (TTM) 2,400

ROE (TTM) 36.0%

P/B —

BVPS (Latest) —

ROA (TTM) 21.5%

What Is Changing

ITD has not yet shown a broad-based top-line recovery. Revenue posted -100.0% YoY, but net margin reached -6.75% with an additional -9.4pp improvement versus the prior year. The next question is whether current profit momentum can hold through the next cycle.

Net Margin fell below its recent low, compressing 945bps to -6.75% in 2023.
Revenue decreased 100.0% YoY to VND 0.0bn in 2025.
Quarterly Net Income decreased 100.0% YoY to VND 0.0bn in 2025Q4.

Metric	2025	2023	2022	2021	2020
Revenue	0.0	591.1	878.1	424.7	529.5
Growth	-100%	-33%	+107%	-20%	—
Net Income	0.0	-39.9	23.7	26.1	50.3
Net Margin	—	-6.75%	2.70%	6.14%	9.51%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q2'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22
Revenue	0.0	165.4	142.9	98.0	99.0	207.0	211.2	83.0	86.5	112.9	255.8	318.6
Growth	-100%	+16%	+46%	-1%	-52%	-2%	+154%	-4%	-23%	-56%	-20%	—
Net Income	0.0	68.4	11.5	5.4	3.3	2.6	-43.0	1.7	-2.3	-1.2	14.1	11.7
Net Margin	—	41.37%	8.03%	5.52%	3.37%	1.25%	-20.35%	2.05%	-2.60%	-1.11%	5.50%	3.66%

Financial Statements

Profitability

Net margin reached -6.75% while Revenue posted -100.0% YoY.

Balance Sheet

Inventory stood at 0.0bn, liabilities at 0.0bn, and equity at 0.0bn.

Cash Flow

Operating cash flow was 63.8bn in 2023, while investing cash flow was -0.5bn.

Financing cash flow: -9.7bn.

Item	2025	2023	2022	2021	2020
Revenue	0.0	591.1	878.3	424.7	529.5
Revenue Deductions	0.0	0.0	0.2	0.0	0.0
Net Revenue	0.0	591.1	878.1	424.7	529.5
Cost of Goods Sold	0.0	444.4	746.4	0.0	0.0
Gross Profit	0.0	146.6	131.7	114.0	146.1
Financial Income	0.0	8.7	6.0	4.4	5.9
Financial Expenses	0.0	7.0	6.7	-6.4	-3.8
Interest Expense	0.0	0.0	3.7	-3.3	-3.5
Share of Associates and Joint Ventures	0.0	-2.9	7.0	-0.0	-0.0
Selling Expenses	0.0	50.2	42.6	-50.2	-40.9
General and Administrative Expenses	0.0	130.0	63.7	-38.7	-39.8
Operating Profit	0.0	-34.7	31.7	23.1	67.5
Other Income	0.0	2.3	2.5	0.0	0.0
Other Expenses	0.0	0.7	1.6	0.0	0.0
Other Profit	0.0	1.7	0.9	10.1	-12.1
Profit Before Tax	0.0	-33.1	32.6	33.2	55.4
Current Income Tax Expense	0.0	6.7	8.1	-7.1	-5.1
Deferred Income Tax Expense	0.0	0.2	0.8	0.0	0.0
Net Income	0.0	-39.9	23.7	26.1	50.3
Non-controlling Interest	0.0	18.6	19.4	10.8	20.8
Profit Attributable to Parent	0.0	-58.5	4.3	15.3	29.5
Earnings per Share	0.00	-2,392.00	183.00	804.00	1,550.00
Diluted EPS	0.00	-2,385.20	175.59	800.85	1,546.36

Item	2023	2022	2021	2020
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	418.0	488.6	515.6	502.0
I. Cash and cash equivalents	122.6	68.9	78.9	38.5
1. Cash	82.5	38.9	0.0	0.0
2. Cash equivalents	40.2	30.1	0.0	0.0
II. Short-term financial investments	85.6	65.7	0.0	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	85.6	65.7	0.0	0.0
III. Short-term receivables	166.2	294.3	273.3	236.1
1. Short-term trade accounts receivable	235.5	298.7	0.0	0.0
2. Short-term prepayments to suppliers	16.4	5.4	0.0	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	0.0	0.0	0.0
6. Other short-term receivables	7.2	28.8	0.0	0.0
7. Provision for short-term doubtful debts (*)	-93.0	-38.6	0.0	0.0
8. Assets awaiting resolution	0.0	0.0	0.0	0.0
IV. Inventories	36.0	55.4	80.0	127.7
1. Inventories	57.7	65.4	0.0	0.0
2. Provision for decline in value of inventories	-21.8	-10.0	0.0	0.0
V. Other short-term assets	7.6	4.4	6.6	14.8
1. Short-term prepayments	0.3	0.3	0.0	0.0
2. Value added tax to be reclaimed	7.3	4.1	0.0	0.0
3. Taxes and other receivables from state authorities	0.0	0.0	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)	151.6	165.9	88.9	103.7
I. Long-term receivables	2.7	1.3	0.0	0.0
1. Long-term trade receivables	0.0	0.0	5.8	5.8
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	1.5	0.1	0.0	0.0
6. Other long-term receivables	1.2	1.3	0.0	0.0
7. Provision for long-term doubtful debts	0.0	0.0	0.0	0.0
II. Fixed assets	71.2	72.3	57.4	68.1
1. Tangible fixed assets	55.4	56.4	41.5	43.5
- Cost	106.2	107.6	0.0	0.0
- Accumulated depreciation	-50.9	-51.2	0.0	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	15.8	15.9	15.9	24.6
- Cost	28.2	30.8	0.0	0.0
- Accumulated depreciation	-12.3	-14.8	0.0	0.0
III. Investment properties	0.0	0.0	16.3	18.0
- 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	0.0	0.6	0.0	0.3
1. Long-term production in progress	0.0	0.0	0.0	0.0
2. Construction in progress	0.0	0.6	0.0	0.0
V. Long-term financial investments	2.7	6.9	5.6	7.4
1. Investments in subsidiaries	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	2.1	4.8	0.0	0.0
3. Investments in other entities	7.4	7.4	0.0	0.0
4. Provision for diminution in value of long-term investments	-6.8	-5.3	0.0	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	74.9	84.8	0.0	0.0
1. Long-term prepayments	2.2	3.7	0.0	0.0
2. Deferred income tax assets	0.2	0.2	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	3.7	3.9
5. Goodwill	72.6	80.9	0.0	0.0
VII. Goodwill (before 2015)	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	569.5	654.6	604.5	605.7
A. LIABILITIES (300=210+330)	209.3	240.7	265.1	280.3
I. Short -term liabilities	200.4	230.9	255.7	271.7
1. Short-term trade accounts payable	57.7	68.4	32.5	61.5
2. Short-term advances from customers	22.2	12.0	132.4	39.9
3. Taxes and other payables to state authorities	5.6	8.3	0.0	0.0
4. Payable to employees	14.4	5.1	0.0	0.0
5. Short-term acrrued expenses	18.6	55.8	0.0	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	0.2	0.9	0.6
9. Other short-term payables	5.6	11.4	0.0	0.0
10. Short-term borrowings and financial leases	58.7	52.2	42.2	92.7
11. Provision for short-term liabilities	15.2	13.8	0.0	0.0
12.. Bonus and welfare fund	2.2	3.7	0.0	0.0
13. Price stabilization fund	0.0	0.0	0.0	0.0
14. Government bonds	0.0	0.0	0.0	0.0
II. Long-term liabilities	8.9	9.8	9.3	8.6
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	0.9	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)	0.0	0.0	0.0	0.0
11. Deferred income tax liabilities	3.4	3.2	0.0	0.0
12. Provision for long-term liabilities	4.9	3.5	0.0	0.0
13. Fund for technology development	0.0	2.1	0.0	0.0
14. Provision for severance allowances	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	360.2	413.9	339.4	325.4
I. Owner's equity	360.2	413.9	0.0	0.0
1. Owner's capital	245.3	245.3	339.4	325.4
- Common stock with voting right	245.3	245.3	190.6	190.6
- Preferred stock	0.0	0.0	0.0	0.0
2. Share premium	0.0	0.0	0.0	0.0
3. Convertible bond option	0.0	0.0	0.0	0.0
4. Other capital of owners	4.1	4.1	0.0	0.0
5. Treasury shares	-0.7	-0.7	0.0	0.0
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	0.0	11.2	0.0	0.0
9. Fund to support corporate restructuring	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	8.8	57.6	84.2	73.9
- Accumulated retained earning at the end of the previous period	65.4	55.9	83.7	52.9
- Undistributed earnings in this period	-56.5	1.7	0.5	21.0
12. Reserves for investment in construction	0.0	0.0	0.0	0.0
13. Minority's interest	102.7	96.3	58.1	56.9
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)	569.5	654.6	604.5	605.7

Item	2023	2022	2021	2020
Profit Before Tax	-33.1	32.6	33.2	50.0
Depreciation of Fixed Assets and Investment Property	14.9	5.7	7.1	8.0
Provision (Increase)/Reversal	70.9	13.1	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	0.1	-0.1	0.0	0.0
Gain/Loss from Investment Activities	-3.3	-12.4	0.0	0.0
Interest Expense	3.9	3.7	0.0	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	-2.1	-87.9	0.0	0.0
Operating Profit Before Changes in Working Capital	51.3	-45.3	40.1	75.5
Increase/(Decrease) in Receivables	49.2	52.3	0.0	0.0
Increase/(Decrease) in Inventory	7.7	11.7	0.0	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-30.1	-12.1	0.0	0.0
Increase/(Decrease) in Prepaid Expenses	1.5	0.9	0.0	0.0
Changes in Trading Securities	0.0	0.0	0.0	0.0
Interest Paid	-4.0	-3.5	0.0	0.0
Corporate Income Tax Paid	-10.7	-18.5	0.0	0.0
Other Operating Receipts	0.0	0.0	0.0	0.0
Other Operating Payments	-1.1	-2.7	0.0	0.0
Net Cash Flow from Operating Activities	63.8	-17.2	60.1	-9.5
Payments for Fixed Assets and Other Long-term Assets	-5.8	-14.0	-2.8	-11.4
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.9	0.4	8.1	0.0
Loans and Purchases of Debt Instruments	-91.0	-34.4	-47.2	-58.9
Receipts from Loan Repayments and Sale of Debt Instruments	69.7	53.9	47.3	59.3
Investments in Other Entities	-3.0	-5.5	-4.1	-7.4
Proceeds from Investments in Other Entities	23.0	0.6	0.0	0.0
Dividends and Interest Income Received	5.8	6.8	0.0	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	-0.5	7.7	37.0	-16.6
Proceeds from Equity Issuance and Capital Contributions	4.1	10.6	0.3	0.0
Share Repurchases	0.0	-0.7	0.0	0.0
Proceeds from Borrowings	138.6	127.3	93.5	155.5
Repayment of Borrowings	-132.1	-128.8	-144.0	-107.9
Repayment of Finance Leases	0.0	0.0	0.0	0.0
Dividends Paid	-20.2	-22.5	-6.4	-37.0
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	-9.7	-14.1	-56.5	10.5
Net Cash Flow During the Period	53.6	-23.6	-1.4	0.7
Cash and Cash Equivalents at Beginning of Period	68.9	92.5	38.5	54.1
FX Difference from Revaluation	0.2	-0.0	-0.3	0.0
Cash and Cash Equivalents at End of Period	122.6	68.9	78.9	38.5

Item	Q4'25	Q3'25	Q2'25	Q1'25	Q2'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22
Revenue	0.0	165.4	142.9	98.0	99.0	207.0	211.2	83.0	86.5	112.9	255.8	318.8
Revenue Deductions	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.2
Net Revenue	0.0	165.4	142.9	98.0	99.0	207.0	211.2	83.0	86.5	112.9	255.8	318.6
Cost of Goods Sold	0.0	113.5	99.1	66.0	73.4	156.4	176.5	52.0	57.6	73.9	215.5	285.7
Gross Profit	0.0	51.9	43.8	32.0	25.5	50.6	34.7	31.0	28.9	39.0	40.3	32.9
Financial Income	0.0	0.9	1.0	1.1	0.7	2.0	2.0	2.4	2.2	3.0	1.0	1.0
Financial Expenses	0.0	0.9	0.6	1.8	1.6	2.7	1.7	1.7	0.8	1.5	3.2	1.2
Interest Expense	0.0	0.6	0.5	1.2	0.5	1.3	0.9	0.8	0.8	-0.7	1.1	0.8
Share of Associates and Joint Ventures	0.0	-1.6	0.0	0.0	0.1	-1.7	-0.5	-0.3	-0.7	-2.6	4.7	4.8
Selling Expenses	0.0	15.0	14.2	10.9	9.9	14.1	10.6	11.6	13.6	11.5	10.7	10.8
General and Administrative Expenses	0.0	-37.3	16.8	13.3	11.0	30.8	64.5	17.1	17.0	25.7	17.2	13.0
Operating Profit	0.0	72.7	13.3	7.1	3.9	3.4	-40.7	2.6	-1.0	0.8	15.0	13.8
Other Income	0.0	0.4	1.2	0.0	0.8	1.4	2.5	0.6	0.1	2.0	0.2	0.2
Other Expenses	0.0	0.2	0.3	0.0	0.2	0.1	2.6	0.4	0.1	0.3	0.1	0.1
Other Profit	0.0	0.1	0.9	0.0	0.6	1.3	-0.1	0.2	-0.0	1.7	0.1	0.1
Profit Before Tax	0.0	72.8	14.2	7.2	4.5	4.6	-40.7	2.8	-1.0	2.4	15.1	13.9
Current Income Tax Expense	0.0	5.1	2.5	1.8	1.5	1.6	2.2	1.4	1.2	3.5	1.0	1.7
Deferred Income Tax Expense	0.0	-0.7	0.2	0.0	-0.4	0.4	0.1	-0.3	0.0	0.2	0.0	0.5
Net Income	0.0	68.4	11.5	5.4	3.3	2.6	-43.0	1.7	-2.3	-1.2	14.1	11.7
Non-controlling Interest	0.0	9.7	7.4	5.4	3.3	3.8	4.9	4.9	4.5	7.8	3.2	5.2
Profit Attributable to Parent	0.0	58.7	4.1	0.0	0.0	-1.2	-47.9	-3.2	-6.8	-9.1	10.9	6.4
Earnings per Share	0.00	2,243.00	157.00	0.14	1.00	-50.00	-1,959.00	-144.00	-277.00	-370.30	511.00	303.00
Diluted EPS	0.00	2,236.75	156.59	0.14	0.56	-49.61	-1,953.65	-129.76	-276.37	-370.30	508.93	301.69

Item	Q3'25	Q2'25	Q1'25	Q2'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	475.4	387.4	402.7	439.7	419.8	466.3	435.2	463.3	490.1	511.5	479.6
I. Cash and cash equivalents	73.7	56.6	61.3	57.3	122.6	69.9	70.2	38.4	79.5	57.8	41.2
1. Cash	41.0	21.7	32.2	27.1	82.5	41.5	31.7	18.8	38.8	27.2	20.2
2. Cash equivalents	32.7	34.9	29.1	30.2	40.2	28.4	38.6	19.6	40.7	30.6	21.0
II. Short-term financial investments	87.6	24.4	26.9	40.1	85.6	96.8	81.8	66.1	55.0	59.9	68.1
1. Available for sale securities	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0
3. Held to maturity investments	87.6	24.4	26.9	40.1	85.6	96.8	81.8	66.1	55.0	59.9	68.1
III. Short-term receivables	226.1	229.5	220.7	146.8	168.7	236.0	225.6	298.3	296.7	339.6	281.7
1. Short-term trade accounts receivable	224.4	274.5	262.7	167.4	235.5	285.9	204.0	299.2	298.7	349.4	273.0
2. Short-term prepayments to suppliers	15.6	32.5	36.6	62.9	16.4	23.8	31.6	7.3	5.4	4.9	15.7
3. Short-term inter-company receivables	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0
5. Short-term loan receivables	0.0	0.0	0.0	0.1	0.0	0.0	0.0	0.0	0.0	0.1	0.4
6. Other short-term receivables	6.8	7.7	6.7	6.9	9.7	11.5	28.2	30.3	31.3	14.2	19.1
7. Provision for short-term doubtful debts (*)	-20.8	-85.2	-85.2	-90.5	-92.9	-85.2	-38.3	-38.6	-38.6	-29.0	-26.5
8. Assets awaiting resolution	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	78.2	67.7	81.6	174.1	35.3	52.7	49.4	52.8	54.4	51.8	83.7
1. Inventories	83.8	85.4	100.6	195.8	56.9	67.0	58.5	62.9	64.5	61.8	93.3
2. Provision for decline in value of inventories	-5.6	-17.8	-18.9	-21.7	-21.6	-14.2	-9.1	-10.0	-10.0	-10.0	-9.6
V. Other short-term assets	9.9	9.1	12.2	21.5	7.6	10.9	8.2	7.7	4.4	2.4	4.8
1. Short-term prepayments	1.5	2.2	3.3	1.0	0.3	0.6	0.7	0.9	0.3	0.5	0.7
2. Value added tax to be reclaimed	8.3	6.8	8.7	18.6	7.3	10.4	7.5	6.8	4.1	1.9	4.2
3. Taxes and other receivables from state authorities	0.1	0.1	0.2	1.9	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	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	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	134.0	131.7	134.0	144.2	151.6	161.3	159.5	164.1	160.7	161.2	159.1
I. Long-term receivables	1.7	1.5	1.5	1.4	2.8	6.1	1.3	1.3	1.3	0.0	0.0
1. Long-term trade receivables	0.0	0.0	0.0	0.0	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	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	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	0.0	0.0	0.0	0.0
5. Long-term loan receivables	0.0	0.0	0.0	0.0	1.6	4.9	0.1	0.1	0.1	0.0	0.0
6. Other long-term receivables	1.7	1.5	1.5	1.4	1.2	1.2	1.2	1.3	1.3	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	0.0	0.0	0.0	0.0
II. Fixed assets	66.7	65.8	66.2	70.2	71.2	71.8	68.1	69.9	72.3	71.2	71.6
1. Tangible fixed assets	52.9	52.1	52.2	55.2	55.4	55.7	52.6	54.3	56.4	55.1	56.1
- Cost	108.6	106.5	108.2	108.1	106.0	105.1	100.8	103.0	107.6	100.6	100.5
- Accumulated depreciation	-55.7	-54.3	-56.0	-52.9	-50.6	-49.4	-48.2	-48.7	-51.2	-45.5	-44.4
2. Financial leased fixed assets	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0
- Accumulated depreciation	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	13.8	13.7	14.0	15.0	15.8	16.1	15.5	15.6	15.9	16.1	15.4
- Cost	27.0	26.6	26.6	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-13.2	-12.9	-12.5	0.0	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	0.0	0.0	0.0	0.0
- Cost	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	0.0	0.2	0.3	0.2	0.0	0.8	1.5	0.7	0.6	0.8	0.8
1. Long-term production in progress	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	0.0	0.2	0.3	0.2	0.0	0.8	1.5	0.7	0.6	0.8	0.8
V. Long-term financial investments	0.1	1.7	1.7	1.7	2.7	5.0	8.3	8.8	6.8	86.9	84.1
1. Investments in subsidiaries	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	0.0	1.6	1.6	1.7	2.1	3.9	6.8	6.7	4.7	84.6	79.8
3. Investments in other entities	7.4	7.4	7.4	7.4	7.4	7.4	7.4	7.4	7.4	7.4	7.4
4. Provision for diminution in value of long-term investments	-7.4	-7.4	-7.4	-7.4	-6.8	-6.2	-5.9	-5.3	-5.3	-5.0	-3.0
5. Held to maturity investments	0.1	0.1	0.1	0.0	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	0.0	0.0	0.0	0.0
VI. Other long-term assets	65.5	62.4	64.5	70.7	2.4	2.9	3.6	4.6	4.1	2.4	2.7
1. Long-term prepayments	6.4	2.1	2.1	1.8	2.2	2.8	3.4	4.4	3.7	2.2	2.5
2. Deferred income tax assets	0.9	0.2	0.1	0.4	0.2	0.2	0.2	0.2	0.4	0.2	0.2
3. Long-term equipment, supplies, spare parts	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other long-term assets	0.3	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Goodwill	58.1	60.1	62.2	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	0.0	0.0	0.0	68.4	72.6	74.6	76.7	78.8	75.5	0.0	0.0
TOTAL ASSETS (280=100+200)	609.4	519.0	536.8	583.9	571.4	627.5	594.7	627.3	650.9	672.7	638.7
A. LIABILITIES (300=210+330)	135.6	108.3	131.0	234.6	211.9	265.7	181.0	212.4	243.1	270.5	248.6
I. Short -term liabilities	125.7	98.3	121.4	227.6	201.8	257.9	172.4	202.6	233.3	262.4	240.3
1. Short-term trade accounts payable	44.4	21.8	42.1	63.6	57.8	104.1	39.6	91.1	68.5	117.7	104.9
2. Short-term advances from customers	15.9	15.5	24.2	100.1	22.1	17.5	38.8	11.9	12.0	4.4	15.8
3. Taxes and other payables to state authorities	10.6	5.8	5.6	4.4	5.4	6.1	3.3	3.0	8.2	5.2	5.2
4. Payable to employees	14.3	6.9	3.4	5.6	14.6	10.1	2.6	2.0	7.6	7.8	3.5
5. Short-term acrrued expenses	7.4	2.5	2.8	7.5	18.6	8.6	18.7	21.4	55.8	37.8	14.0
6. Short-term inter-company payables	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	0.1	0.1	0.0	0.1	0.0	0.1	0.2	0.1	0.2	0.3	0.4
9. Other short-term payables	1.1	5.2	4.3	5.2	8.1	8.4	11.8	14.4	11.4	8.8	14.7
10. Short-term borrowings and financial leases	25.3	33.6	31.7	24.4	58.7	85.9	40.7	41.5	52.2	60.4	62.4
11. Provision for short-term liabilities	2.8	3.0	3.1	14.5	14.1	14.5	13.5	13.7	13.8	15.9	15.3
12.. Bonus and welfare fund	3.8	4.0	4.3	2.2	2.2	2.7	3.2	3.6	3.7	4.0	4.2
13. Price stabilization fund	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0
II. Long-term liabilities	9.9	10.0	9.6	7.0	10.1	7.7	8.6	9.7	9.8	8.1	8.3
1. Long-term trade payables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term advances from customers	0.0	0.0	0.0	0.0	0.0	0.0	0.0	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	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	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	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	0.0	0.0	0.0	0.0
7. Other long-term liabilities	0.2	0.2	0.2	0.3	0.6	1.0	1.0	0.9	0.9	0.9	0.9
8. Long-term borrowings and financial leases	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Convertible bonds	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
11. Deferred income tax liabilities	4.1	4.2	3.9	3.2	3.4	3.0	2.9	3.2	3.2	2.9	2.9
12. Provision for long-term liabilities	5.6	5.6	5.5	3.5	6.1	3.1	3.1	3.5	3.5	2.3	2.4
13. Fund for technology development	0.0	0.0	0.0	0.0	0.0	0.7	1.6	2.1	2.1	2.0	2.0
14. Provision for severance allowances	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	473.8	410.7	405.8	349.3	359.5	361.9	413.7	415.0	407.8	402.3	390.1
I. Owner's equity	473.8	410.7	405.8	349.3	359.5	361.9	413.7	415.0	407.8	402.3	390.1
1. Owner's capital	262.4	262.4	245.3	245.3	245.3	245.3	245.3	245.3	245.3	213.4	213.4
- Common stock with voting right	262.4	262.4	245.3	245.3	245.3	245.3	245.3	245.3	245.3	213.4	213.4
- Preferred stock	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Share premium	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0
4. Other capital of owners	4.1	4.1	4.1	4.1	4.1	4.1	4.1	4.1	0.0	0.0	0.0
5. Treasury shares	-0.7	-0.7	-0.7	-0.7	-0.7	-0.7	-0.7	-0.7	-0.7	-0.7	-0.7
6. Assets revaluation differences	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0
8. Investment and development fund	0.0	0.0	0.0	0.0	0.0	4.3	4.6	5.1	12.4	10.3	10.2
9. Fund to support corporate restructuring	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	95.9	37.4	50.6	6.4	8.6	5.2	52.8	55.4	54.4	94.5	86.3
- Accumulated retained earning at the end of the previous period	32.9	33.3	50.6	8.8	67.7	63.1	62.7	62.2	50.8	81.8	84.4
- Undistributed earnings in this period	62.9	4.1	0.0	-2.4	-59.1	-57.9	-10.0	-6.8	3.6	12.7	1.9
12. Reserves for investment in construction	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	112.1	107.5	106.4	94.2	102.2	103.7	107.6	105.8	96.4	84.7	80.8
14. Financial reserves	0.0	0.0	0.0	0.0	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	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	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	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	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	609.4	519.0	536.8	583.9	571.4	627.5	594.7	627.3	650.9	672.7	638.7

Item	Q4'25	Q3'25	Q2'25	Q1'25	Q2'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22
Profit Before Tax	0.0	72.8	14.3	7.2	7.1	5.9	-40.7	2.8	-1.0	3.4	15.1	13.9
Depreciation of Fixed Assets and Investment Property	0.0	-2.3	5.9	1.7	7.7	10.1	-2.7	5.9	1.6	1.7	1.4	1.4
Provision (Increase)/Reversal	0.0	-77.3	-2.5	-0.9	-4.1	18.7	53.5	-1.2	-0.1	7.8	5.3	0.2
FX Gain/Loss from Revaluation of Monetary Items	0.0	0.1	0.0	0.0	-0.3	-0.2	0.1	0.2	0.0	-0.1	-0.2	0.3
Gain/Loss from Investment Activities	0.0	-0.4	-1.6	-0.6	-0.8	2.5	-3.2	-1.1	-1.4	-7.6	1.7	-5.6
Interest Expense	0.0	0.7	0.4	1.2	1.1	1.3	0.9	0.8	0.8	1.1	1.1	0.8
Gain/Loss on Disposal of Fixed Assets	0.0	0.0	0.0	0.0	0.0	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	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	0.0	0.0	0.0	0.0	0.0
Other Adjustments	0.0	7.8	0.0	2.1	0.0	-9.7	8.2	-3.3	2.7	-87.7	-0.2	0.0
Operating Profit Before Changes in Working Capital	0.0	1.4	14.5	10.7	10.7	28.5	16.1	4.2	2.5	-81.6	24.3	10.9
Increase/(Decrease) in Receivables	0.0	92.0	-10.0	178.6	7.8	47.9	-68.1	67.2	2.2	59.8	-53.4	-10.3
Increase/(Decrease) in Inventory	0.0	1.8	15.0	-35.4	-137.8	9.2	-8.4	4.4	2.5	-3.6	31.5	23.2
Increase/(Decrease) in Payables (Excl. Interest and CIT)	0.0	13.5	-20.7	-25.4	59.8	-9.4	25.9	-26.3	-20.3	-45.3	19.7	-17.2
Increase/(Decrease) in Prepaid Expenses	0.0	-3.6	1.1	-2.8	-0.3	-0.1	1.6	0.4	-0.5	0.9	0.4	0.1
Changes in Trading Securities	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	0.0	-0.7	-0.4	-1.5	-1.1	-0.6	-1.7	-0.9	-0.8	-1.0	-1.1	-0.8
Corporate Income Tax Paid	0.0	-1.2	-2.4	-8.6	-2.2	-5.6	0.9	-0.7	-5.2	-3.5	-1.3	-0.9
Other Operating Receipts	0.0	0.2	0.0	0.0	0.4	-0.2	0.2	-0.1	0.1	-0.0	0.0	-0.0
Other Operating Payments	0.0	0.6	-1.2	-0.3	-0.1	1.2	-0.4	-1.3	-0.6	-0.7	0.8	-1.2
Net Cash Flow from Operating Activities	0.0	103.9	-4.2	115.4	-62.6	71.0	-34.0	46.7	-20.0	-75.1	21.0	3.9
Payments for Fixed Assets and Other Long-term Assets	0.0	-3.5	-1.3	-0.2	-2.8	-0.9	-4.9	0.2	-0.2	-1.0	-1.1	-2.5
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.0	0.4	0.9	0.0	0.0	0.6	0.0	0.3	0.0	0.4	0.0	0.0
Loans and Purchases of Debt Instruments	0.0	-82.6	4.6	-14.0	-27.6	-20.4	-24.0	-36.2	-10.5	-23.6	-7.7	-0.6
Receipts from Loan Repayments and Sale of Debt Instruments	0.0	8.1	-1.1	17.6	81.5	23.6	13.1	22.9	10.1	17.8	16.1	10.4
Investments in Other Entities	0.0	-0.3	0.0	-5.3	0.0	0.0	0.0	0.0	-3.0	77.6	-8.1	-74.4
Proceeds from Investments in Other Entities	0.0	0.0	0.0	0.0	0.0	3.0	19.5	0.5	0.0	0.6	0.0	0.0
Dividends and Interest Income Received	0.0	0.7	0.8	0.7	2.7	0.8	1.5	2.3	1.3	1.6	2.5	1.7
Increase/(Decrease) in Term Deposits	0.0	0.0	0.0	0.0	0.0	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	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	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	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	0.0	-77.3	9.1	-1.2	53.8	6.7	5.2	-10.0	-2.3	73.4	1.8	-65.3
Proceeds from Equity Issuance and Capital Contributions	0.0	0.0	0.2	0.0	0.0	0.0	0.0	4.1	0.0	10.6	0.0	-1.0
Share Repurchases	0.0	0.0	-7.4	0.0	0.0	0.0	0.0	-4.1	4.1	-0.7	0.0	0.0
Proceeds from Borrowings	0.0	27.6	21.4	58.9	53.9	37.6	55.1	23.5	22.5	24.2	40.2	44.1
Repayment of Borrowings	0.0	-26.6	-19.4	-171.3	-88.3	-52.0	-22.6	-22.8	-34.7	-32.4	-42.2	-19.2
Repayment of Finance Leases	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	0.0	-10.6	-4.4	-3.5	-15.1	-10.6	-4.0	-5.6	-0.0	-9.9	-4.3	-8.3
Other Financing Receipts	0.0	0.0	0.0	0.0	0.0	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	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	0.0	-9.5	-9.6	-115.9	-49.5	-25.1	28.5	-4.9	-8.2	-8.2	-6.2	15.7
Net Cash Flow During the Period	0.0	17.1	-4.7	-1.7	-58.2	52.6	-0.3	31.8	-30.5	-9.9	16.5	-45.8
Cash and Cash Equivalents at Beginning of Period	73.7	56.6	61.3	63.0	122.6	68.9	68.9	68.9	68.9	92.5	71.5	71.5
FX Difference from Revaluation	0.0	-0.1	0.0	-0.0	-0.2	0.2	-0.0	-0.0	0.0	-0.0	-0.0	0.0
Cash and Cash Equivalents at End of Period	0.0	73.7	56.6	61.3	64.3	122.6	69.9	70.2	38.4	68.9	57.8	41.2

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

ITD

What Is Changing

Financial Statements

Profitability

Balance Sheet

Cash Flow

Related Research