MKP

Hoá - Dược phẩm Mekophar ·UPCOM ·2026Q1

▲▲ Improving positively

Operating efficiency is improving Net margin 2.99%, +1.25pp YoY

Price

26,500

Latest close

02 Jun 2026

P/E 23.44x

P/B 0.53x

EPS 1,131

BVPS 49,758

ROE 2.3%

ROA 1.8%

Profit Margin 3.0%

Asset Turnover 0.59x

Equity Mult. 1.29x

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

What Is Changing

On a TTM 2026Q1 basis, MKP is improving on both growth and profitability, painting a notably more positive picture versus the same period — profit is at an all-time high. However, a significant portion of profit is supported by non-core sources, making the picture not entirely clear.

	                            
	                                TTM REVENUE
	                            
	                                    VND 974bn
	                                
+7.8%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 29bn
	                                
+85.4%YoY

	                            
	                                Net financial result / PBT
	                            
	                                    30.3%
	                                
affects earnings quality

Metric	2025	2024	2023	2022	2021
Revenue	939.0	919.6	904.7	1,192.1	1,129.8
Growth	+2%	+2%	-24%	+6%	—
Net Income	4.3	40.8	25.1	41.7	15.9
Net Margin	0.46%	4.44%	2.78%	3.50%	1.40%

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	207.9	342.8	226.3	197.5	229.7	244.8	204.9	224.6	245.3	253.2	208.4	207.1
Growth	-39%	+52%	+15%	-14%	-6%	+19%	-9%	-8%	-3%	+21%	+1%	—
Net Income	1.6	53.1	-9.7	-15.9	-13.5	28.9	6.5	-6.2	14.2	18.7	2.5	-0.1
Net Margin	0.78%	15.48%	-4.28%	-8.04%	-5.86%	11.80%	3.18%	-2.78%	5.80%	7.39%	1.19%	-0.05%

Drivers of MKP's profit

TTM

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

Gross profit ↑ 64.5bn

Selling expenses ↓ 2.9bn

Financial income ↓ 52.4bn

TTM

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

Selling expenses ↓ 7.6bn

Administrative expenses ↓ 4.6bn

Gross profit ↑ 2.7bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 1.2% = 1.7% × 0.56 × 1.27

2026Q1 2.3% = 3.0% × 0.59 × 1.29

ROE rose from 1.2% to 2.3% — all three components improved, with asset turnover contributing the most.

Net margin: 3.0% +1.3pp Asset turnover: 0.59x +0.03x Leverage: 1.29x +0.03x

Is the profit sustainable?

Margins improved (+1.3pp), but earnings still rely significantly on non-core sources — warrants closer scrutiny.

very positive positive stable watch under pressure

What is driving the margin?

Net margin edged up to 2.99%, rising 1.3pp. The main driver is Gross margin rose 4.8pp and SG&A / Revenue fell 2.4pp, moving in line with the stronger net margin (in addition, Other profit / Revenue rose 0.1pp added support while Net financial result / Revenue fell 5.8pp remained a drag).

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

Profitability trend

Net Margin 2.99% +1.3pp

Gross Margin 29.47% +4.8pp

SG&A / Revenue 26.63% −2.4pp

Non-core / Revenue 1.39% −5.7pp

TTM YoY · 2025Q1 -> 2026Q1

Watchpoints

Financial result share remains high

Even though contribution decreased by 5.7pp, financial result still accounts for 32.8% of PBT — earnings durability should be monitored in coming periods.

Is capital being used efficiently?

Evaluate capital, asset, and working-capital efficiency.

Balance Sheet

Balance sheet is exceptionally sound — liabilities at 0.31x equity, with a net cash position equivalent to 0.16x equity.

Inventory ended the period at 640.5bn, roughly 38.6% of total assets.

Over the last 12 months, working capital released 122.6bn of cash, mainly thanks to lower inventories and higher payables. Pressure from higher receivables only partly offset that benefit.

Working Capital Drivers

Receivables increased → lower CFO: −3.3bn

Inventories decreased → higher CFO: +121.7bn

Payables increased → higher CFO: +4.2bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 3.7 days versus the same period last year. The main moves came from DIO rose 3.9 days, DSO fell 0.7 days, and DPO rose 6.9 days.

Extended payment timing is the main driver — consider whether this trades off supplier relationships.

Watchpoints

Cash conversion cycle remains stretched

CCC stands at 345.1 days, suggesting that working capital remains tied up for a relatively long operating cycle.

Inventory turnover is slowing

DIO increased by +3.9 days, suggesting more capital is being tied up in inventories.

Working Capital Efficiency

Receivables 22.2 days −0.7 days

Inventory 364.4 days +3.9 days

Payables 41.4 days +6.9 days

Cash Conversion Cycle 345.1 days −3.7 days

Is financial risk significant?

Financial risk is low — the company has net cash and CFO reached 64.8bn.

Leverage & Liquidity

Leverage looks fairly comfortable, with net debt / equity at -0.16x and interest coverage at 16.01x.

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 -0.16x —

Interest Coverage 16.01x +8.64x

Cash / Debt — —

Short-term Debt / Total Debt — —

CFO / NI 4.80x +10.05x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 64.8bn in 2025, against investing cash flow of 28.0bn.

Post-investment cash flow was positive +92.8bn. Financing cash flow was negative +12.6bn.

CFO / net income was 4.80x.

After spending +18.5bn on fixed-asset investment, the business generated trailing free cash flow of +121.3bn.

Cash Conversion

CFO TTM 139.8bn +222.3bn

Cash Capex 18.5bn +9.8bn

FCF TTM +121.3bn +212.5bn

Investment Takeaway

The business is heading the right way, but the current picture is still at partial confirmation — not yet a fully clean case. The positive points have clearly improved, showing the operating base is better than before. The brighter spot is operating efficiency, with net margin improving 1.3 pp. Even so, earnings quality still needs closer monitoring because net financial result remains elevated. The main risk still sits in working capital is tied up too long in the operating cycle, with CCC extended to 345 days.

Improvement: operating efficiency is getting better, with trailing-12M net margin at 2.99% after expanding 1.3pp versus the same period last year.

Watchpoint: cash flow is currently keeping pace with accounting earnings, with CFO / net income at 4.80x. Even so, net financial result still accounts for 30.3% of PBT, so the earnings mix still needs monitoring.

Key risk: working capital remains tied up for too long, with cash cycle at 345.1 days.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	939.0	919.6	904.8	1,193.2	1,130.3
Revenue Deductions	0.1	0.0	0.1	1.1	0.0
Net Revenue	939.0	919.6	904.7	1,192.1	1,129.8
Cost of Goods Sold	691.0	671.5	637.4	843.4	0.0
Gross Profit	247.9	248.1	267.4	348.8	209.7
Financial Income	43.9	66.2	24.9	17.5	14.8
Financial Expenses	30.3	4.2	4.9	17.9	-2.9
Interest Expense	—	0.0	0.5	3.7	-0.6
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	0.0
Selling Expenses	119.8	110.4	108.6	151.4	-77.6
General and Administrative Expenses	137.2	146.3	151.7	130.2	-127.0
Operating Profit	4.5	53.4	27.1	66.7	17.0
Other Income	1.7	0.5	18.8	0.5	0.0
Other Expenses	0.4	0.8	2.5	2.4	0.0
Other Profit	1.3	-0.3	16.3	-2.0	7.2
Profit Before Tax	5.7	53.1	43.3	64.8	24.3
Current Income Tax Expense	1.4	12.3	18.2	23.1	-8.4
Deferred Income Tax Expense	—	0.0	0.0	0.0	0.0
Net Income	4.3	40.8	25.1	41.7	15.9
Non-controlling Interest	—	0.0	0.0	0.0	0.0
Profit Attributable to Parent	4.3	40.8	25.1	41.7	15.9
Earnings per Share	168.00	1,614.00	994.00	1,650.00	620.88
Diluted EPS	168.38	1,596.55	983.10	1,650.00	620.88

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	1,030.9	961.2	834.0	879.0	852.9
I. Cash and cash equivalents	227.1	173.7	130.1	62.0	49.2
1. Cash	20.1	108.7	70.1	57.0	0.0
2. Cash equivalents	207.0	65.0	60.0	5.0	0.0
II. Short-term financial investments	31.9	55.9	55.9	70.9	0.0
1. Available for sale securities	6.9	10.9	10.9	10.9	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	25.0	45.0	45.0	60.0	0.0
III. Short-term receivables	116.3	55.6	62.9	90.6	183.2
1. Short-term trade accounts receivable	57.9	51.2	62.4	112.7	0.0
2. Short-term prepayments to suppliers	25.8	14.7	2.8	11.3	0.0
3. Short-term inter-company receivables	—	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	0.0	0.0	0.0	0.0
5. Short-term loan receivables	—	0.0	0.0	0.0	0.0
6. Other short-term receivables	44.5	1.5	1.6	1.2	0.0
7. Provision for short-term doubtful debts (*)	-11.8	-11.8	-3.9	-34.6	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	640.5	661.8	574.3	638.5	350.4
1. Inventories	670.9	692.1	593.4	646.3	0.0
2. Provision for decline in value of inventories	-30.3	-30.3	-19.1	-7.9	0.0
V. Other short-term assets	15.0	14.1	10.8	17.0	14.2
1. Short-term prepayments	3.7	3.6	2.9	2.9	0.0
2. Value added tax to be reclaimed	9.6	10.4	7.8	13.4	0.0
3. Taxes and other receivables from state authorities	1.7	0.1	0.0	0.7	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)	628.4	670.4	715.0	741.4	775.4
I. Long-term receivables	—	0.0	0.0	0.0	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	0.0
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	—	0.0	0.0	0.0	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	602.3	642.0	682.5	713.6	749.5
1. Tangible fixed assets	594.5	634.1	674.7	705.2	740.3
- Cost	1,040.9	1,041.3	1,045.8	1,029.4	0.0
- Accumulated depreciation	-446.3	-407.2	-371.1	-324.3	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	7.8	7.9	7.8	8.5	9.2
- Cost	14.0	14.0	13.5	13.5	0.0
- Accumulated depreciation	-6.2	-6.1	-5.7	-5.0	0.0
III. Investment properties	—	0.0	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	0.1	0.0	0.0	0.0	0.0
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	0.1	0.0	0.0	0.0	0.0
V. Long-term financial investments	24.1	24.1	24.1	24.1	24.1
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	—	0.0	0.0	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	2.0	4.4	8.4	3.7	0.0
1. Long-term prepayments	2.0	4.4	8.4	3.7	0.0
2. Deferred income tax assets	—	0.0	0.0	0.0	0.0
3. Long-term equipment, supplies, spare parts	—	0.0	0.0	0.0	0.0
4. Other long-term assets	—	0.0	0.0	0.0	1.8
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)	1,659.3	1,631.6	1,548.9	1,620.4	1,628.3
A. LIABILITIES (300=210+330)	389.8	346.9	288.0	352.8	379.3
I. Short -term liabilities	187.9	160.1	122.6	199.8	158.1
1. Short-term trade accounts payable	95.9	64.2	27.1	77.6	75.8
2. Short-term advances from customers	46.1	48.8	41.1	34.3	21.7
3. Taxes and other payables to state authorities	—	6.4	7.4	18.0	0.0
4. Payable to employees	19.8	10.0	18.2	19.5	0.0
5. Short-term acrrued expenses	9.3	9.1	6.5	5.5	0.0
6. Short-term inter-company payables	—	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	—	0.0	0.0	0.0	0.0
9. Other short-term payables	11.1	11.0	11.2	28.9	0.0
10. Short-term borrowings and financial leases	—	0.0	0.0	8.0	0.0
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	5.7	10.5	11.2	8.0	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	201.9	186.8	165.5	153.0	221.1
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	201.9	186.8	165.5	153.0	135.9
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	85.2
9. Convertible bonds	—	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	0.0	0.0	0.0	0.0
13. Fund for technology development	—	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	1,269.5	1,284.7	1,260.9	1,267.6	1,249.1
I. Owner's equity	1,269.5	1,284.7	1,260.9	1,267.6	0.0
1. Owner's capital	255.5	255.5	255.5	255.5	1,249.1
- Common stock with voting right	255,458,670,000.00	255,458,670,000.00	255,458,670,000.00	255,458,670,000.00	255,458,670,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	409.8	409.8	409.8	409.8	409.8
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	-14,487,151,158.00	-14,487,151,158.00	-14,487,151,158.00	-14,487,151,158.00	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	581.8	578.6	576.6	574.6	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	36.9	55.3	33.5	42.3	25.0
- Accumulated retained earning at the end of the previous period	32.6	14.5	8.4	0.6	9.1
- Undistributed earnings in this period	4.3	40.8	25.1	41.7	15.9
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	—	0.0	0.0	0.0	0.0
14. Financial reserves	—	0.0	0.0	0.0	0.0
II. Other resources and funds	—	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	1,659.3	1,631.6	1,548.9	1,620.4	1,628.3

Item	2025	2024	2023	2022	2021
Profit Before Tax	5.7	53.1	43.3	64.8	24.3
Depreciation of Fixed Assets and Investment Property	25.3	47.5	48.5	48.1	44.0
Provision (Increase)/Reversal	27.6	19.1	-19.4	13.8	0.0
FX Gain/Loss from Revaluation of Monetary Items	0.1	0.1	-0.3	-1.4	0.0
Gain/Loss from Investment Activities	-43.9	-65.8	-24.1	-14.3	0.0
Interest Expense	—	0.0	0.5	3.7	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	14.8	54.0	48.4	114.7	64.8
Increase/(Decrease) in Receivables	-38.0	-3.4	65.6	84.0	0.0
Increase/(Decrease) in Inventory	18.6	-98.7	52.9	-296.0	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	90.1	58.2	-48.7	38.7	0.0
Increase/(Decrease) in Prepaid Expenses	-0.1	3.4	-4.8	-2.0	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	—	0.0	-0.5	-3.7	0.0
Corporate Income Tax Paid	-9.3	-11.7	-29.9	-8.9	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-11.2	-4.7	-3.1	-3.9	0.0
Net Cash Flow from Operating Activities	64.8	-2.9	80.0	-77.0	-55.6
Payments for Fixed Assets and Other Long-term Assets	-7.7	-9.3	-17.3	-12.2	-21.4
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.3	2.5	0.0	0.4	0.1
Loans and Purchases of Debt Instruments	-51.1	-215.8	-87.0	-208.8	-385.0
Receipts from Loan Repayments and Sale of Debt Instruments	75.2	215.8	102.0	393.8	333.0
Investments in Other Entities	—	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	11.4	65.7	23.4	13.9	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	28.0	59.0	21.1	187.0	-60.5
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	—	0.0	14.9	161.9	116.0
Repayment of Borrowings	—	0.0	-22.9	-239.2	-47.9
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-12.6	-12.6	-25.3	-20.2	-23.0
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	-12.6	-12.6	-33.3	-97.4	45.1
Net Cash Flow During the Period	80.2	43.4	67.8	12.6	12.8
Cash and Cash Equivalents at Beginning of Period	147.0	130.1	62.0	49.2	120.2
FX Difference from Revaluation	-0.0	0.2	0.2	0.2	-0.0
Cash and Cash Equivalents at End of Period	227.1	173.7	130.1	62.0	49.2

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	207.9	342.8	226.3	197.6	229.7	244.8	204.9	224.6	245.3	253.2	208.4	207.1
Revenue Deductions	0.0	0.0	—	0.0	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	207.9	342.8	226.3	197.5	229.7	244.8	204.9	224.6	245.3	253.2	208.4	207.1
Cost of Goods Sold	151.9	210.0	178.4	147.1	176.4	179.1	160.2	165.6	166.6	174.8	149.0	148.1
Gross Profit	56.0	132.8	47.9	50.4	53.3	65.7	44.7	59.0	78.7	78.4	59.4	59.0
Financial Income	2.1	3.3	6.6	2.9	1.3	38.1	25.9	2.0	0.4	14.3	7.3	1.5
Financial Expenses	0.2	0.5	0.6	1.3	0.4	0.9	0.0	2.0	1.4	1.0	1.0	1.8
Interest Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.2	0.1
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	23.4	36.9	26.6	25.4	31.0	26.3	25.4	32.5	26.2	28.0	21.9	27.0
General and Administrative Expenses	32.4	35.2	37.1	42.6	37.0	40.4	35.6	33.9	33.8	50.5	34.2	31.8
Operating Profit	2.1	63.5	-9.7	-15.9	-13.8	36.3	9.5	-7.4	17.7	13.2	9.7	-0.1
Other Income	0.0	1.2	0.1	0.0	0.3	0.2	0.2	0.0	0.0	17.8	0.0	0.0
Other Expenses	0.1	0.1	0.1	0.0	0.0	0.3	-0.0	0.4	0.0	1.6	0.9	0.0
Other Profit	-0.1	1.1	-0.0	-0.0	0.3	-0.0	0.2	-0.4	0.0	16.2	-0.9	0.0
Profit Before Tax	2.1	64.6	-9.7	-15.9	-13.5	36.2	9.7	-7.8	17.8	29.4	8.8	-0.1
Current Income Tax Expense	0.5	11.6	—	—	—	7.4	3.2	-1.6	3.6	10.7	6.4	-0.0
Deferred Income Tax Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	1.6	53.1	-9.7	-15.9	-13.5	28.9	6.5	-6.2	14.2	18.7	2.5	-0.1
Non-controlling Interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	1.6	53.1	-9.7	-15.9	-13.5	28.9	6.5	-6.2	14.2	18.7	2.5	-0.1
Earnings per Share	64.00	2,077.53	-383.00	-628.00	-532.00	1,143.00	258.00	-247.00	563.00	741.00	98.00	-4.00
Diluted EPS	63.31	2,077.53	-383.00	-628.00	-532.00	1,673.00	258.00	-247.00	563.00	741.00	98.00	-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)	1,002.0	998.6	926.5	896.5	997.0	961.2	870.0	888.4	868.5	835.0	832.3	814.3
I. Cash and cash equivalents	209.0	227.1	161.8	85.9	132.3	173.7	47.2	34.6	157.0	130.1	70.8	36.7
1. Cash	47.0	20.1	44.8	65.9	47.3	108.7	47.2	34.6	77.0	70.1	65.8	31.7
2. Cash equivalents	162.0	207.0	117.0	20.0	85.0	65.0	0.0	0.0	80.0	60.0	5.0	5.0
II. Short-term financial investments	68.9	31.9	31.9	30.9	50.9	55.9	60.9	100.9	60.9	55.9	55.9	52.9
1. Available for sale securities	6.9	6.9	6.9	10.9	10.9	10.9	10.9	10.9	10.9	10.9	10.9	10.9
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	62.0	25.0	25.0	20.0	40.0	45.0	50.0	90.0	50.0	45.0	45.0	42.0
III. Short-term receivables	108.7	85.5	74.0	66.3	77.8	56.8	82.9	60.7	61.6	64.0	76.3	67.1
1. Short-term trade accounts receivable	59.3	57.9	55.1	47.6	59.0	51.2	61.3	57.2	54.2	94.1	100.5	92.0
2. Short-term prepayments to suppliers	18.9	25.8	19.2	13.6	13.7	14.7	4.0	7.0	7.3	2.8	7.0	6.5
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other short-term receivables	42.2	13.6	11.6	17.0	16.9	1.5	26.7	2.9	5.0	1.6	3.3	3.1
7. Provision for short-term doubtful debts (*)	-11.8	-11.8	-11.9	-11.9	-11.8	-10.6	-9.0	-6.4	-4.9	-34.6	-34.6	-34.6
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	593.8	640.5	640.6	696.6	718.1	661.5	665.5	674.7	575.7	574.3	608.5	637.5
1. Inventories	624.1	670.9	670.9	727.0	748.4	691.8	695.9	696.6	597.6	593.4	620.1	649.1
2. Provision for decline in value of inventories	-30.3	-30.3	-30.3	-30.3	-30.3	-30.3	-30.3	-21.9	-21.9	-19.1	-11.6	-11.6
V. Other short-term assets	21.7	13.6	18.2	16.7	17.9	13.2	13.3	17.4	13.3	10.8	20.9	20.0
1. Short-term prepayments	4.3	3.9	6.4	2.9	5.0	2.8	2.8	2.6	3.9	2.9	5.4	3.7
2. Value added tax to be reclaimed	9.3	9.6	8.7	10.6	12.7	10.4	10.5	12.1	8.3	7.8	10.4	12.7
3. Taxes and other receivables from state authorities	8.1	0.1	3.0	3.1	0.3	0.1	0.0	2.7	1.0	0.0	5.1	3.6
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)	627.9	628.3	639.3	648.3	658.7	670.4	681.3	693.2	701.8	715.0	721.9	729.1
I. Long-term receivables	—	—	—	—	—	0.0	0.0	0.0	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	0.0	0.0	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	592.3	602.3	613.5	621.2	630.7	642.0	652.6	663.3	670.6	682.5	691.0	699.1
1. Tangible fixed assets	584.6	594.5	605.7	613.4	622.9	634.1	644.7	655.4	663.0	674.7	683.1	691.0
- Cost	1,042.9	—	—	—	—	1,041.3	1,041.2	1,049.6	1,045.9	1,045.8	1,042.4	1,038.3
- Accumulated depreciation	-458.3	—	—	—	—	-407.2	-396.5	-394.2	-382.9	-371.1	-359.3	-347.3
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	7.7	7.8	7.8	7.8	7.8	7.9	7.9	8.0	7.6	7.8	7.9	8.1
- Cost	14.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-6.3	—	—	—	—	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	9.3	0.1	0.1	0.0	0.0	0.0	0.0	0.0	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	9.3	0.1	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
V. Long-term financial investments	24.1	24.1	24.1	24.1	24.1	24.1	24.1	24.1	24.1	24.1	24.1	24.1
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	—	—	—	—	—	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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	2.2	1.8	1.7	3.0	3.9	4.4	4.7	5.8	7.1	8.4	6.7	5.9
1. Long-term prepayments	2.2	1.8	1.7	3.0	3.9	4.4	4.7	5.8	7.1	8.4	6.7	5.9
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)	1,629.9	1,626.9	1,565.8	1,544.8	1,655.7	1,631.6	1,551.3	1,581.6	1,570.3	1,550.0	1,554.2	1,543.4
A. LIABILITIES (300=210+330)	358.8	347.8	339.7	308.9	384.5	345.5	294.0	329.7	295.2	288.0	311.0	303.2
I. Short -term liabilities	155.2	196.5	143.4	115.1	193.4	158.6	112.8	154.4	124.9	122.6	148.2	143.2
1. Short-term trade accounts payable	53.8	95.9	35.0	33.2	102.3	64.2	22.5	69.4	26.8	27.1	34.3	37.2
2. Short-term advances from customers	61.2	46.1	63.5	46.2	53.1	48.8	46.2	45.6	49.8	41.1	37.8	33.7
3. Taxes and other payables to state authorities	3.6	8.6	6.6	0.6	6.0	6.4	5.6	0.4	10.7	7.4	6.8	0.1
4. Payable to employees	10.3	19.8	12.7	8.2	10.0	10.0	8.7	8.7	9.6	18.2	10.8	9.0
5. Short-term acrrued expenses	10.1	9.3	8.8	9.6	9.9	7.7	7.7	7.6	7.7	6.5	6.8	6.9
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	11.2	11.1	11.0	11.1	11.1	11.0	11.0	11.0	11.2	11.2	29.0	29.0
10. Short-term borrowings and financial leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	10.9	14.9
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	5.1	5.7	5.7	6.3	1.1	10.5	11.1	11.7	9.1	11.2	11.8	12.5
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	203.6	151.4	196.4	193.8	191.1	186.8	181.2	175.3	170.3	165.5	162.8	160.0
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	203.6	151.4	196.4	193.8	191.1	186.8	181.2	175.3	170.3	165.5	162.8	160.0
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	—	—	—	—	—	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)	1,271.1	1,279.1	1,226.0	1,235.8	1,271.2	1,286.2	1,257.3	1,251.9	1,275.1	1,262.0	1,243.2	1,240.2
I. Owner's equity	1,271.1	1,279.1	1,226.0	1,235.8	1,271.2	1,286.2	1,257.3	1,251.9	1,275.1	1,262.0	1,243.2	1,240.2
1. Owner's capital	255.5	255.5	255.5	255.5	255.5	255.5	255.5	255.5	255.5	255.5	255.5	255.5
- Common stock with voting right	255,458,670,000.00	255,458,670,000.00	255,458,670,000.00	255,458,670,000.00	255,458,670,000.00	255,458,670,000.00	255,458,670,000.00	255,458,670,000.00	255,458,670,000.00	255,458,670,000.00	255,458,670,000.00	255,458,670,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	409.8	409.8	409.8	409.8	409.8	409.8	409.8	409.8	409.8	409.8	409.8	409.8
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	-14,487,151,158.00	-14,487,151,158.00	-14,487,151,158.00	-14,487,151,158.00	-14,487,151,158.00	-14,487,151,158.00	-14,487,151,158.00	-14,487,151,158.00	-14,487,151,158.00	-14,487,151,158.00	-14,487,151,158.00	-14,487,151,158.00
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	581.8	581.8	581.8	581.8	578.6	578.6	578.6	578.6	576.6	576.6	576.6	576.6
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	38.5	46.5	-6.6	3.3	41.9	56.8	27.9	22.5	47.7	34.6	15.9	12.8
- Accumulated retained earning at the end of the previous period	36.9	32.6	32.6	32.6	55.3	14.5	14.5	14.5	33.5	8.4	8.4	8.4
- Undistributed earnings in this period	1.6	13.9	-39.2	-29.3	-13.5	42.3	13.4	8.0	14.2	26.2	7.5	4.4
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)	1,629.9	1,626.9	1,565.8	1,544.8	1,655.7	1,631.6	1,551.3	1,581.6	1,570.3	1,550.0	1,554.2	1,543.4

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
Profit Before Tax	2.1	44.9	-9.7	-16.0	-13.5	36.2	9.7	-9.1	17.8	28.3	8.8	0.6
Depreciation of Fixed Assets and Investment Property	12.0	-10.2	11.9	11.8	11.8	11.8	11.9	11.9	11.9	12.0	12.2	12.2
Provision (Increase)/Reversal	—	27.5	-0.0	0.2	—	1.6	9.9	2.6	3.8	-23.2	0.0	3.7
FX Gain/Loss from Revaluation of Monetary Items	—	0.6	—	-0.5	—	0.1	-0.9	0.9	0.0	-0.3	-0.7	0.7
Gain/Loss from Investment Activities	-2.1	-40.7	-0.5	-1.6	-1.1	-64.2	-0.6	-1.7	-0.2	-14.6	-6.5	-2.2
Interest Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.2	0.1
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	11.9	21.7	2.2	-6.1	-2.9	-14.4	30.0	4.7	33.3	2.2	14.0	15.2
Increase/(Decrease) in Receivables	1.5	-17.9	-5.9	18.9	-33.2	26.6	-24.9	-5.7	-1.2	41.4	3.3	7.8
Increase/(Decrease) in Inventory	46.8	-2.6	56.0	21.4	-56.3	4.0	0.8	-99.0	-4.2	26.7	29.1	10.2
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-23.8	83.2	31.8	-86.9	62.1	45.4	-33.7	35.6	11.4	0.2	-5.1	-30.7
Increase/(Decrease) in Prepaid Expenses	-0.8	0.0	-2.2	3.0	-0.9	0.4	0.9	2.6	0.3	0.8	-2.5	0.6
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	—	—	—	—	—	0.0	0.0	0.0	0.0	-0.0	-0.2	-0.1
Corporate Income Tax Paid	-7.0	0.0	0.0	-2.9	-6.4	-3.0	0.0	-3.0	-5.7	-11.5	0.0	-1.0
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-0.6	-0.0	-0.6	-1.2	-9.4	-0.6	-0.6	-1.3	-2.1	-0.3	-1.0	-0.6
Net Cash Flow from Operating Activities	28.0	84.4	81.3	-53.8	-47.1	58.3	-27.5	-66.1	31.7	59.5	37.6	1.3
Payments for Fixed Assets and Other Long-term Assets	-11.3	-0.8	-4.1	-2.3	-0.5	-0.2	-1.1	-6.9	-0.1	-3.4	-4.2	-5.1
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.1	0.1	0.0	0.0	0.0	0.5	1.9	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	-259.2	208.9	-92.8	-80.8	-86.4	-76.3	-88.2	-155.8	-15.0	-32.0	-13.0	-30.0
Receipts from Loan Repayments and Sale of Debt Instruments	222.2	-204.8	87.8	100.8	91.4	81.3	128.2	115.8	10.0	32.0	10.0	42.0
Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	—	4.1	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	2.1	8.3	0.3	1.7	1.1	63.2	0.1	2.0	0.2	13.9	7.2	1.5
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	-46.1	7.6	-4.7	19.4	5.6	68.0	39.6	-43.0	-4.8	10.5	0.0	8.4
Proceeds from Equity Issuance and Capital Contributions	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Share Repurchases	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Proceeds from Borrowings	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	14.9
Repayment of Borrowings	—	—	—	—	-0.1	0.0	0.0	0.0	0.0	-10.9	-4.0	0.0
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	—	0.0	0.0	-12.6	—	0.0	0.0	-12.6	0.0	0.0	0.0	-25.3
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	0.0	-12.6	—	0.0	0.0	-12.6	0.0	-10.9	-4.0	-10.4
Net Cash Flow During the Period	-18.2	92.0	76.6	-47.0	-41.5	126.2	12.0	-121.7	26.9	59.0	33.6	-0.7
Cash and Cash Equivalents at Beginning of Period	227.1	161.8	85.9	132.3	173.7	130.1	130.1	130.1	130.1	62.0	62.0	62.0
FX Difference from Revaluation	—	-0.0	—	0.7	—	0.2	0.6	-0.6	0.0	0.2	0.5	-0.5
Cash and Cash Equivalents at End of Period	209.0	227.1	161.8	85.9	132.3	173.7	47.2	34.6	157.0	130.1	70.8	36.7

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MKP

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