NHH

Nhựa Hà Nội ·HOSE ·2026Q1

▲▲ Improving positively

Operating efficiency is improving Net margin 6.07%, +3.08pp YoY

Price

10,050

Latest close

02 Jun 2026

P/E 6.35x

P/B 0.61x

EPS 1,583

BVPS 16,469

ROE 8.7%

ROA 6.0%

Profit Margin 6.1%

Asset Turnover 0.99x

Equity Mult. 1.44x

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

What Is Changing

On a TTM 2026Q1 basis, NHH has not accelerated revenue sharply, but profitability is improving visibly — profit is at an all-time high. Profit growth is driven mainly by better operations rather than scale expansion — a foundation that tends to be more durable.

	                            
	                                TTM REVENUE
	                            
	                                    VND 2,305bn
	                                
+3.8%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 140bn
	                                
+110.9%YoY

Metric	2025	2024	2023	2022	2021
Revenue	2,311.2	2,096.9	2,039.3	2,383.2	2,083.7
Growth	+10%	+3%	-14%	+14%	—
Net Income	119.6	87.9	96.2	111.9	72.2
Net Margin	5.18%	4.19%	4.72%	4.70%	3.46%

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	563.6	555.2	550.6	635.9	569.3	596.9	550.7	504.0	445.2	514.3	488.8	494.2
Growth	+2%	+1%	-13%	+12%	-5%	+8%	+9%	+13%	-13%	+5%	-1%	—
Net Income	39.4	0.4	29.2	70.8	19.2	6.3	6.1	34.8	40.6	38.3	17.0	8.3
Net Margin	7.00%	0.08%	5.30%	11.14%	3.37%	1.06%	1.11%	6.90%	9.11%	7.44%	3.47%	1.67%

Drivers of NHH's profit

TTM

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

Associates income ↑ 63.5bn

Finance costs ↓ 41.9bn

Financial income ↑ 11.7bn

Selling expenses ↓ 8.4bn

Tax ↑ 27.6bn

Gross profit ↓ 13.9bn

TTM

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

Finance costs ↓ 23.0bn

Financial income ↑ 4.2bn

Selling expenses ↓ 2.9bn

Tax ↑ 5.4bn

Gross profit ↓ 4.0bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 4.8% = 3.0% × 1.07 × 1.49

2026Q1 8.7% = 6.1% × 0.99 × 1.44

ROE rose from 4.8% to 8.7% — mainly driven by net margin, despite asset turnover and leverage moving in the opposite direction.

Net margin: 6.1% +3.1pp Asset turnover: 0.99x -0.08x Leverage: 1.44x -0.05x

Is the profit sustainable?

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

very positive positive stable watch under pressure

What is driving the margin?

Net margin expanded to 6.07%, rising 3.1pp. Core operating signals are improving as SG&A / Revenue fell 0.3pp are enough to offset pressure from Gross margin fell 1.3pp (in addition, Net financial result / Revenue rose 2.4pp added support while Other profit / Revenue fell 0.0pp remained a drag).

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

Profitability trend

Net Margin 6.07% +3.1pp

Gross Margin 17.14% −1.3pp

SG&A / Revenue 9.99% −0.3pp

TTM YoY · 2025Q1 -> 2026Q1

Is capital being used efficiently?

Capital is being used more efficiently — ROIC rose and cash cycle shortened to 54.9 days.

Is capital being deployed efficiently?

ROIC expanded to 7.74%, rising 3.8pp. That translates to 7.74 in after-tax operating profit for every 100 units of operating capital. The main driver is NOPAT margin rose 3.1pp, with capital turnover broadly stable; while invested capital rose by 128bn.

NOPAT margin is driving the improvement — ROIC has cleared the deposit-rate threshold but not yet the typical cost of equity level, and this momentum needs to hold as new invested capital is fully deployed.

CAPITAL EFFICIENCY TREND

ROIC 7.74% +3.8pp

NOPAT Margin 6.08% +3.1pp

Capital Turnover 1.27x −0.05x

Average Invested Capital 1,811.2bn +127.8bn

Balance Sheet

ROIC is improving — the asset structure below shows how capital is being allocated. Capital structure is conservative with low leverage — liabilities at 0.39x equity, net debt at 0.11x equity.

Over the last 12 months, working capital released 87.8bn of cash, mainly thanks to lower receivables and higher payables. Pressure from higher inventories only partly offset that benefit.

Working Capital Drivers

Receivables decreased → higher CFO: +49.1bn

Inventories increased → lower CFO: −18.9bn

Payables increased → higher CFO: +57.7bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 8.1 days versus the same period last year. The main moves came from DIO fell 2.5 days, DSO rose 5.3 days, and DPO rose 11.0 days.

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

Watchpoints

Receivables collection is slowing

DSO increased by +5.3 days, pointing to slower receivables turnover.

Working Capital Efficiency

Receivables 47.9 days +5.3 days

Inventory 48.3 days −2.5 days

Payables 41.3 days +11.0 days

Cash Conversion Cycle 54.9 days −8.1 days

Is financial risk significant?

Leverage is safe but FCF is negative at 206.2bn due to capex of 489.8bn — an investment choice, not an urgent risk.

Leverage & Liquidity

Leverage looks fairly comfortable, with net debt / equity at 0.11x and interest coverage at 13.34x.

At present, short-term debt accounts for 74.0% of total debt, cash equals 41.2% of debt, and total debt stands at 354.1bn.

Watchpoints

Short-term refinancing pressure is meaningful

Short-term debt accounts for 74.0% of total debt, raising near-term refinancing needs.

Leverage and liquidity trend

Net Debt / Equity 0.11x −0.02x

Interest Coverage 13.34x +11.81x

Cash / Debt 41.2% −10.3pp

Short-term Debt / Total Debt 74.0% −9.5pp

CFO / NI 2.03x −0.18x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 214.1bn in 2025, against investing cash flow of -446.9bn.

Post-investment cash flow was negative +232.8bn. Financing cash flow was positive +386.9bn.

CFO / net income was 2.03x.

After spending +489.8bn on fixed-asset investment, the business generated trailing free cash flow of −206.2bn.

Cash Conversion

CFO TTM 283.6bn +140.2bn

Cash Capex 489.8bn +408.6bn

FCF TTM −206.2bn −268.4bn

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 3.1 pp. The main risk still sits in self-funded cash generation remains weak.

Improvement: operating efficiency is getting better, with trailing-12M net margin at 6.07% after expanding 3.1pp versus the same period last year.

Key risk: self-funded cash generation remains weak, with trailing-12M FCF still at 206.2bn.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	2,313.5	2,098.7	2,041.0	2,388.8	2,091.3
Revenue Deductions	2.3	1.8	1.7	5.6	0.0
Net Revenue	2,311.2	2,096.9	2,039.3	2,383.2	2,083.7
Cost of Goods Sold	1,912.1	1,706.3	1,736.7	1,969.4	0.0
Gross Profit	399.1	390.6	302.6	413.8	362.9
Financial Income	35.1	32.0	36.3	48.9	66.2
Financial Expenses	37.1	32.5	50.2	58.8	-53.5
Interest Expense	16.1	21.2	-45.9	43.5	-48.3
Share of Associates and Joint Ventures	-1.3	-65.3	-5.5	0.0	-18.1
Selling Expenses	133.9	129.3	92.6	189.1	-198.0
General and Administrative Expenses	100.8	83.2	73.6	68.6	-63.8
Operating Profit	161.0	112.3	117.1	146.1	95.7
Other Income	5.9	3.3	5.1	3.6	0.0
Other Expenses	5.0	4.2	1.6	4.4	0.0
Other Profit	0.9	-0.9	3.5	-0.8	-5.8
Profit Before Tax	161.9	111.5	120.5	145.3	89.9
Current Income Tax Expense	42.5	24.1	24.0	32.9	-17.8
Deferred Income Tax Expense	-0.2	-0.5	0.3	0.5	0.0
Net Income	119.6	87.9	96.2	111.9	72.2
Non-controlling Interest	0.1	1.8	1.1	0.0	0.2
Profit Attributable to Parent	119.6	86.0	95.1	111.9	72.0
Earnings per Share	1,286.00	1,180.00	1,305.00	1,944.00	1,975.09
Diluted EPS	1,286.00	1,180.00	1,305.00	1,944.00	1,975.09

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	1,108.6	835.2	833.7	1,258.5	843.5
I. Cash and cash equivalents	346.4	192.0	68.3	357.1	88.9
1. Cash	70.1	141.4	50.8	70.5	0.0
2. Cash equivalents	276.3	50.6	17.6	286.6	0.0
II. Short-term financial investments	119.4	0.8	200.2	28.2	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	119.4	0.8	200.2	28.2	0.0
III. Short-term receivables	336.7	378.6	294.9	445.1	374.1
1. Short-term trade accounts receivable	281.0	298.9	225.7	350.6	0.0
2. Short-term prepayments to suppliers	37.3	25.9	32.9	41.6	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	—	50.0	7.0	17.5	0.0
6. Other short-term receivables	22.0	7.5	30.9	35.3	0.0
7. Provision for short-term doubtful debts (*)	-3.6	-3.6	-1.6	0.0	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	239.4	218.7	230.6	366.6	332.4
1. Inventories	241.5	220.3	233.2	371.2	0.0
2. Provision for decline in value of inventories	-2.1	-1.5	-2.7	-4.6	0.0
V. Other short-term assets	66.7	45.1	39.7	61.5	48.1
1. Short-term prepayments	13.5	14.8	16.2	24.5	0.0
2. Value added tax to be reclaimed	53.2	30.3	23.5	37.0	0.0
3. Taxes and other receivables from state authorities	0.0	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)	1,420.6	1,095.0	1,242.9	1,128.2	1,053.3
I. Long-term receivables	3.6	5.1	5.4	8.9	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	5.6
2. Long-term prepayments to suppliers	—	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	0.0	0.0	3.0	0.0
6. Other long-term receivables	3.6	5.1	5.4	5.9	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	890.4	828.9	798.7	836.7	883.7
1. Tangible fixed assets	852.5	764.7	723.5	707.4	746.6
- Cost	1,817.7	1,638.3	1,508.2	1,377.6	0.0
- Accumulated depreciation	-965.2	-873.7	-784.8	-670.2	0.0
2. Financial leased fixed assets	32.7	56.8	68.6	123.2	129.9
- Cost	41.0	69.6	80.9	159.5	0.0
- Accumulated depreciation	-8.3	-12.8	-12.2	-36.2	0.0
3. Intangible fixed assets	5.2	7.4	6.6	6.1	7.3
- Cost	17.6	17.2	16.2	14.0	0.0
- Accumulated depreciation	-12.4	-9.7	-9.6	-7.9	0.0
III. Investment properties	—	0.0	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	281.1	1.5	1.9	15.1	12.0
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	281.1	1.5	1.9	15.1	0.0
V. Long-term financial investments	58.2	117.5	299.1	123.1	0.0
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	58.2	117.5	182.8	123.1	0.0
3. Investments in other entities	—	0.0	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	—	0.0	0.0	0.0	0.0
5. Held to maturity investments	—	0.0	116.4	0.0	0.0
6. Other long-term investments	—	0.0	0.0	0.0	0.0
VI. Other long-term assets	187.4	142.1	137.7	144.4	0.0
1. Long-term prepayments	186.6	141.5	137.5	143.0	0.0
2. Deferred income tax assets	0.8	0.5	0.1	0.4	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	152.0
5. Goodwill	—	0.0	0.2	1.0	0.0
VII. Goodwill (before 2015)	—	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	2,529.2	1,930.2	2,076.6	2,386.8	1,896.9
A. LIABILITIES (300=210+330)	703.6	573.7	703.4	1,085.0	1,242.2
I. Short -term liabilities	608.8	511.7	666.3	937.8	790.7
1. Short-term trade accounts payable	183.9	151.5	126.5	277.7	165.5
2. Short-term advances from customers	35.2	11.1	20.9	52.7	37.5
3. Taxes and other payables to state authorities	28.7	19.7	9.5	19.6	0.0
4. Payable to employees	25.1	25.1	22.2	25.5	0.0
5. Short-term acrrued expenses	39.2	29.8	24.3	4.5	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	25.4	3.5	2.0	3.2	0.0
10. Short-term borrowings and financial leases	235.2	245.0	448.7	542.1	535.5
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	35.9	26.1	12.4	12.6	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	94.8	62.0	37.1	147.2	451.5
1. Long-term trade payables	—	0.0	0.0	0.0	171.8
2. Long-term advances from customers	—	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	0.0	0.0	0.0	0.0
7. Other long-term liabilities	—	0.0	0.0	3.6	0.0
8. Long-term borrowings and financial leases	94.8	62.0	37.1	143.6	273.0
9. Convertible bonds	—	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	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)	1,825.6	1,356.5	1,373.2	1,301.7	654.7
I. Owner's equity	1,825.6	1,356.5	1,373.2	1,301.7	0.0
1. Owner's capital	1,129.6	728.8	728.8	728.8	654.7
- Common stock with voting right	1,129,640,000,000.00	728,800,000,000.00	728,800,000,000.00	728,800,000,000.00	364,400,000,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	327.5	328.0	328.0	328.0	145.9
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	—	0.0	0.0	0.0	0.0
5. Treasury shares	—	0.00	0.00	0.00	0.00
6. Assets revaluation differences	—	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	0.0	0.0	0.0	0.0
8. Investment and development fund	13.4	13.4	13.4	13.4	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	354.2	285.5	279.0	231.3	129.4
- Accumulated retained earning at the end of the previous period	234.6	227.7	184.9	119.4	57.4
- Undistributed earnings in this period	119.6	57.9	94.2	111.9	72.0
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	0.9	0.8	24.0	0.2	1.6
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)	2,529.2	1,930.2	2,076.6	2,386.8	1,896.9

Item	2025	2024	2023	2022	2021
Profit Before Tax	161.9	111.5	120.5	145.3	91.1
Depreciation of Fixed Assets and Investment Property	115.9	107.6	110.8	110.6	99.6
Provision (Increase)/Reversal	0.6	0.9	-0.4	1.2	0.0
FX Gain/Loss from Revaluation of Monetary Items	0.0	-0.3	-0.5	-0.2	0.0
Gain/Loss from Investment Activities	-2.5	56.1	-21.4	-27.9	0.0
Interest Expense	16.4	21.4	45.9	43.5	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	292.4	297.2	255.0	272.6	229.5
Increase/(Decrease) in Receivables	-42.3	-65.3	189.4	-59.1	0.0
Increase/(Decrease) in Inventory	-21.2	13.0	138.0	-35.4	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	85.8	18.9	-183.5	-40.3	0.0
Increase/(Decrease) in Prepaid Expenses	-47.2	-6.1	10.3	-4.3	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-16.2	-22.0	-46.2	-43.5	0.0
Corporate Income Tax Paid	-32.4	-13.3	-35.0	-26.0	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-4.8	-1.3	-10.3	-13.7	0.0
Net Cash Flow from Operating Activities	214.1	221.0	317.7	50.2	-80.3
Payments for Fixed Assets and Other Long-term Assets	-437.7	-138.5	-48.6	-55.8	-59.9
Proceeds from Disposal of Fixed Assets and Long-term Assets	2.4	21.1	2.3	0.7	0.3
Loans and Purchases of Debt Instruments	-294.8	-224.7	-426.2	-332.2	-50.0
Receipts from Loan Repayments and Sale of Debt Instruments	226.2	497.6	142.7	283.5	78.4
Investments in Other Entities	—	-53.0	-65.1	-124.5	0.0
Proceeds from Investments in Other Entities	39.0	0.0	21.7	0.0	0.0
Dividends and Interest Income Received	18.0	31.9	15.1	23.9	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	-446.9	134.4	-358.0	-204.4	61.3
Proceeds from Equity Issuance and Capital Contributions	363,954,400,000.00	0.00	0.00	546,495,958,473.00	0.00
Share Repurchases	—	0.00	0.00	0.00	0.00
Proceeds from Borrowings	508.9	839.2	1,112.7	878.9	989.7
Repayment of Borrowings	-473.9	-1,011.5	-1,289.1	-979.8	-904.3
Repayment of Finance Leases	—	-23.2	-36.1	-23.9	-16.7
Dividends Paid	-12.1	-36.4	-36.4	-0.0	-36.4
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	386.9	-231.9	-249.0	421.7	32.2
Net Cash Flow During the Period	154.1	123.6	-289.3	267.5	15.3
Cash and Cash Equivalents at Beginning of Period	192.0	68.3	357.1	88.9	75.7
FX Difference from Revaluation	0.4	0.0	0.5	0.7	-0.1
Cash and Cash Equivalents at End of Period	346.4	192.0	68.3	357.1	88.9

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	564.2	556.4	551.3	636.3	569.4	597.8	551.0	504.4	445.5	515.4	490.1	495.6
Revenue Deductions	0.5	1.2	0.7	0.4	0.1	0.9	0.2	0.4	0.3	1.2	1.3	1.4
Net Revenue	563.6	555.2	550.6	635.9	569.3	596.9	550.7	504.0	445.2	514.3	488.8	494.2
Cost of Goods Sold	461.9	468.8	456.4	523.2	463.6	498.7	443.6	406.1	357.7	426.9	426.9	433.0
Gross Profit	101.8	86.5	94.2	112.7	105.7	98.2	107.1	98.0	87.5	87.3	62.0	61.2
Financial Income	8.0	13.7	7.6	10.0	3.8	9.1	4.6	10.1	8.3	11.8	7.0	10.5
Financial Expenses	5.6	23.9	4.3	-19.6	28.6	14.4	6.7	6.3	5.1	10.5	10.3	15.5
Interest Expense	5.3	4.0	3.9	4.3	3.9	5.0	5.9	5.4	4.9	9.1	10.1	13.8
Share of Associates and Joint Ventures	-1.2	-1.9	-1.3	2.5	-0.6	-22.2	-40.0	-2.7	-0.4	0.5	-0.1	-3.1
Selling Expenses	31.0	28.2	31.5	40.3	33.9	30.9	38.5	36.0	23.8	23.5	21.0	23.6
General and Administrative Expenses	22.9	28.2	25.3	23.0	24.3	23.5	21.6	20.3	17.8	21.3	17.4	18.5
Operating Profit	49.2	18.0	39.4	81.5	22.1	16.3	4.8	42.8	48.6	44.3	20.2	10.9
Other Income	0.7	2.1	0.9	0.6	2.4	0.8	1.2	0.7	0.6	1.8	1.8	0.9
Other Expenses	0.3	1.1	2.9	0.3	0.7	3.1	0.8	0.0	0.3	0.9	0.3	0.5
Other Profit	0.4	0.9	-2.0	0.3	1.6	-2.3	0.4	0.7	0.3	1.0	1.5	0.4
Profit Before Tax	49.6	18.9	37.4	81.7	23.8	14.0	5.2	43.5	48.9	45.3	21.8	11.3
Current Income Tax Expense	10.0	18.4	8.2	11.4	4.6	7.7	-0.7	8.7	8.5	7.0	4.8	3.1
Deferred Income Tax Expense	0.1	0.1	0.0	-0.5	0.1	-0.1	-0.2	0.0	-0.2	0.0	0.0	0.0
Net Income	39.4	0.4	29.2	70.8	19.2	6.3	6.1	34.8	40.6	38.3	17.0	8.3
Non-controlling Interest	0.0	0.0	0.0	0.0	0.0	-0.1	0.5	0.8	0.6	0.6	0.5	0.0
Profit Attributable to Parent	39.4	0.4	29.2	70.8	19.1	6.4	5.6	33.9	40.0	37.7	16.5	8.3
Earnings per Share	349.02	3.82	258.36	971.47	262.73	88.02	76.38	465.78	548.55	517.17	225.84	113.22
Diluted EPS	349.02	3.82	258.36	971.47	262.73	88.02	76.38	465.78	548.55	517.17	225.84	113.22

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)	1,116.6	1,108.6	1,377.0	1,085.8	982.1	836.6	931.6	976.1	908.2	849.3	897.2	1,002.2
I. Cash and cash equivalents	146.0	346.4	495.5	227.3	193.5	192.0	145.7	171.5	108.2	68.3	86.6	106.6
1. Cash	122.5	70.1	91.9	92.1	142.4	141.4	115.7	103.1	60.0	50.8	59.3	91.0
2. Cash equivalents	23.5	276.3	403.6	135.2	51.1	50.6	30.0	68.4	48.1	17.6	27.3	15.6
II. Short-term financial investments	310.6	119.4	116.4	125.4	99.1	0.8	98.5	98.7	98.6	200.2	200.1	220.0
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 (*)	310.6	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Held to maturity investments	—	119.4	116.4	125.4	99.1	0.8	98.5	98.7	98.6	200.2	200.1	220.0
III. Short-term receivables	325.1	336.7	503.5	447.1	409.2	380.0	392.6	409.6	404.4	294.9	342.1	339.6
1. Short-term trade accounts receivable	297.4	281.0	304.1	341.0	307.8	298.9	266.0	245.6	210.8	225.7	293.3	253.9
2. Short-term prepayments to suppliers	9.4	37.3	93.5	80.8	94.1	25.9	110.6	70.6	95.3	32.9	21.2	45.4
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	—	—	75.0	—	—	50.0	0.0	76.0	76.0	7.0	11.7	16.0
6. Other short-term receivables	22.0	22.0	34.5	28.9	10.9	8.8	19.7	21.0	23.9	30.9	16.9	25.3
7. Provision for short-term doubtful debts (*)	-3.6	-3.6	-3.6	-3.6	-3.6	-3.6	-3.6	-3.6	-1.6	-1.6	-1.0	-1.0
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	260.1	239.4	229.7	240.9	241.8	218.9	253.1	256.3	260.6	246.2	229.5	293.6
1. Inventories	262.3	241.5	230.7	241.9	243.4	220.4	254.6	258.9	260.6	248.8	229.5	297.0
2. Provision for decline in value of inventories	-2.1	-2.1	-1.0	-1.0	-1.5	-1.5	-1.5	-2.7	0.0	-2.7	0.0	-3.4
V. Other short-term assets	74.9	66.7	31.9	45.1	38.5	45.1	41.7	40.1	36.3	39.7	38.8	42.3
1. Short-term prepayments	15.9	13.5	14.0	14.2	15.8	14.8	17.0	17.6	18.2	16.2	13.6	16.4
2. Value added tax to be reclaimed	58.1	53.2	17.8	30.8	22.4	30.3	24.4	22.5	18.1	23.5	25.2	25.9
3. Taxes and other receivables from state authorities	0.8	0.0	0.1	0.1	0.3	0.0	0.3	0.0	0.0	0.0	0.0	0.1
4. Government bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Other short-term assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	1,530.9	1,420.6	1,094.4	1,057.0	1,031.1	1,093.7	1,229.1	1,251.4	1,227.7	1,227.2	1,150.1	1,223.1
I. Long-term receivables	3.6	3.6	3.6	4.1	5.1	3.7	3.7	6.4	6.4	5.4	15.7	68.3
1. Long-term trade receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	10.0	60.0
6. Other long-term receivables	3.6	3.6	3.6	4.1	5.1	3.7	3.7	6.4	6.4	5.4	5.7	8.3
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	864.9	890.4	829.9	793.9	818.4	828.9	828.9	803.7	785.2	783.2	811.3	825.5
1. Tangible fixed assets	828.6	852.5	790.8	752.1	756.3	764.7	764.8	713.8	692.7	707.9	730.7	701.6
- Cost	1,820.3	—	—	—	—	1,638.3	1,613.2	1,539.3	1,499.1	1,480.5	1,492.0	1,414.9
- Accumulated depreciation	-991.8	—	—	—	—	-873.7	-848.4	-825.5	-806.4	-772.6	-761.3	-713.3
2. Financial leased fixed assets	31.7	32.7	33.6	35.6	55.3	56.8	58.3	84.1	86.2	68.6	75.7	118.6
- Cost	41.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-9.3	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	4.7	5.2	5.5	6.2	6.8	7.4	5.7	5.8	6.3	6.6	4.9	5.2
- Cost	17.6	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-13.0	—	—	—	—	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
- 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	423.7	281.1	4.2	17.8	2.4	1.5	1.5	12.0	1.7	1.9	2.7	5.8
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	423.7	281.1	4.2	17.8	2.4	1.5	1.5	12.0	1.7	1.9	2.7	5.8
V. Long-term financial investments	57.0	58.2	79.0	80.3	53.2	117.5	253.6	294.4	297.9	299.0	182.1	182.2
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	57.0	58.2	79.0	80.3	53.2	117.5	139.6	179.7	182.3	182.6	182.1	182.2
3. Investments in other entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Held to maturity investments	—	—	—	—	—	0.0	113.9	114.7	115.5	116.4	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	181.7	187.4	177.7	160.9	151.9	142.1	141.5	134.9	136.5	137.6	137.8	140.7
1. Long-term prepayments	181.0	186.6	176.8	160.0	151.4	141.5	141.1	134.6	136.2	137.5	137.7	140.6
2. Deferred income tax assets	0.7	0.8	0.9	0.9	0.5	0.5	0.4	0.3	0.3	0.1	0.1	0.1
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	0.2	0.4	0.6
TOTAL ASSETS (280=100+200)	2,647.6	2,529.2	2,471.4	2,142.8	2,013.1	1,930.3	2,160.8	2,227.5	2,136.0	2,076.5	2,047.3	2,225.3
A. LIABILITIES (300=210+330)	787.2	703.6	646.3	699.9	641.0	573.8	757.6	830.5	722.2	703.4	712.5	907.4
I. Short -term liabilities	695.2	608.8	596.2	649.8	579.0	511.8	680.0	759.2	669.7	666.3	623.5	795.3
1. Short-term trade accounts payable	267.4	183.9	152.1	234.8	165.0	151.5	172.8	168.1	136.3	126.5	148.4	109.4
2. Short-term advances from customers	41.7	35.2	39.7	33.1	21.9	11.1	35.8	29.5	20.3	20.9	9.6	18.7
3. Dividends and profits payable	0.1	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	11.6	28.7	24.1	17.9	6.3	19.9	10.5	13.7	11.1	9.5	32.2	21.2
4. Payable to employees	27.5	25.1	21.7	22.0	22.1	25.1	21.1	20.0	19.0	22.2	17.5	22.7
5. Short-term acrrued expenses	11.9	39.2	29.1	25.1	17.8	29.8	19.4	19.6	13.6	24.3	13.6	4.4
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	35.4	25.4	22.5	14.3	4.6	3.5	3.9	39.2	2.1	2.0	1.7	1.2
10. Short-term borrowings and financial leases	262.1	235.2	270.8	274.9	313.2	245.0	389.8	442.1	454.8	448.7	388.2	605.4
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	37.6	35.9	36.2	27.7	28.1	26.1	26.7	27.0	12.4	12.4	12.4	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	92.0	94.8	50.1	50.1	62.0	62.0	77.5	71.3	52.5	37.1	89.0	112.1
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	1.3	1.3
8. Long-term borrowings and financial leases	92.0	94.8	50.1	50.1	62.0	62.0	77.5	71.3	52.5	37.1	87.7	110.8
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)	1,860.4	1,825.6	1,825.2	1,443.0	1,372.1	1,356.5	1,403.2	1,397.0	1,413.8	1,373.1	1,334.8	1,317.8
I. Owner's equity	1,860.4	1,825.6	1,825.2	1,443.0	1,372.1	1,356.5	1,403.2	1,397.0	1,413.8	1,373.1	1,334.8	1,317.8
1. Owner's capital	1,129.6	1,129.6	1,129.6	728.8	728.8	728.8	728.8	728.8	728.8	728.8	728.8	728.8
- Common stock with voting right	1,129,640,000,000.00	1,129,640,000,000.00	1,129,640,000,000.00	728,800,000,000.00	728,800,000,000.00	728,800,000,000.00	728,800,000,000.00	728,800,000,000.00	728,800,000,000.00	728,800,000,000.00	728,800,000,000.00	728,800,000,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	327.5	327.5	327.5	328.0	328.0	328.0	328.0	328.0	328.0	328.0	328.0	328.0
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	13.4	13.4	13.4	13.4	13.4	13.4	13.4	13.4	13.4	13.4	13.4	13.4
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	389.1	354.2	353.7	371.9	301.1	285.5	307.3	301.6	319.0	278.9	241.2	224.8
- Accumulated retained earning at the end of the previous period	349.7	234.6	234.6	282.0	282.0	227.7	227.7	227.7	279.0	184.9	184.9	184.9
- Undistributed earnings in this period	39.4	119.6	119.1	89.9	19.1	57.8	79.6	73.9	40.0	94.0	56.3	39.9
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	0.7	0.9	0.9	0.8	0.8	0.8	25.8	25.2	24.6	24.0	23.4	22.9
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)	2,647.6	2,529.2	2,471.4	2,142.8	2,013.1	1,930.3	2,160.8	2,227.5	2,136.0	2,076.5	2,047.3	2,225.3

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	49.6	18.9	37.4	81.7	23.8	14.0	5.2	43.5	48.9	45.5	21.8	11.3
Depreciation of Fixed Assets and Investment Property	30.4	30.0	28.4	28.7	28.8	29.4	27.9	25.6	25.2	26.0	28.2	28.5
Provision (Increase)/Reversal	—	1.1	0.0	-0.5	—	0.0	-1.2	4.7	-2.7	3.3	-3.4	4.3
FX Gain/Loss from Revaluation of Monetary Items	—	-0.3	—	0.3	—	0.2	0.9	-0.9	0.0	-0.5	-0.4	0.4
Gain/Loss from Investment Activities	-4.0	8.9	-2.6	-31.8	22.9	32.8	36.9	-2.9	-4.5	-9.8	-3.8	-6.1
Interest Expense	5.3	4.1	3.9	4.4	4.0	5.0	5.9	5.4	4.9	9.1	10.1	13.8
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	81.3	63.1	66.9	82.8	79.5	81.4	75.6	75.5	71.9	73.7	52.5	52.3
Increase/(Decrease) in Receivables	1.3	25.1	5.3	17.5	-90.1	22.4	-62.0	-51.6	19.2	78.7	-4.9	-2.3
Increase/(Decrease) in Inventory	-20.8	-10.8	11.2	1.5	-23.1	34.2	4.4	1.7	-27.4	-3.8	67.5	22.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	13.3	6.8	-13.8	51.3	41.4	-34.0	18.2	35.3	-11.2	-28.6	44.0	19.4
Increase/(Decrease) in Prepaid Expenses	2.2	-10.1	-17.5	-7.8	-11.8	0.9	-6.8	1.4	-1.7	-3.2	4.8	5.2
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-5.4	-4.0	-3.9	-4.4	-3.9	-6.0	-5.9	-5.2	-4.9	-8.2	-10.9	-15.6
Corporate Income Tax Paid	-27.2	-13.2	-1.9	-0.2	-17.0	0.0	0.0	-8.5	-5.0	-16.4	-0.4	-0.4
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-1.9	-0.3	-2.5	-0.4	-1.6	-0.6	-0.3	-0.5	-0.0	-0.0	-0.1	-0.0
Net Cash Flow from Operating Activities	42.9	56.6	43.8	140.4	-26.6	98.4	23.3	48.2	40.8	92.1	152.6	80.6
Payments for Fixed Assets and Other Long-term Assets	-85.4	-333.0	-39.3	-32.2	-33.2	-0.3	-47.6	-0.1	-80.3	-13.1	-12.6	-8.7
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.3	0.9	0.2	0.4	0.9	0.7	0.6	0.6	19.2	1.7	0.1	0.6
Loans and Purchases of Debt Instruments	-305.9	-94.4	-75.0	-26.4	-99.0	-50.1	0.0	-0.1	-174.6	-125.1	-10.1	-17.5
Receipts from Loan Repayments and Sale of Debt Instruments	118.0	166.4	9.0	0.1	50.7	204.1	76.7	9.7	207.1	14.7	84.3	30.1
Investments in Other Entities	—	—	—	—	—	-53.0	0.0	0.0	0.0	0.0	0.0	-21.7
Proceeds from Investments in Other Entities	—	0.0	0.0	0.0	39.0	0.0	0.0	-4.6	4.6	0.0	0.0	21.7
Dividends and Interest Income Received	5.5	8.6	5.8	2.1	1.5	7.3	3.6	4.3	16.7	1.1	4.8	1.4
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	-267.4	-251.5	-99.2	-56.1	-40.1	108.8	33.3	9.7	-7.2	-120.8	66.5	5.9
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	206.3	115.7	90.6	84.6	218.0	36.3	120.9	373.5	308.6	396.5	187.4	215.8
Repayment of Borrowings	-180.2	-104.7	-92.1	-130.9	-146.3	-193.9	-155.7	-363.7	-298.3	-381.2	-411.6	-218.3
Repayment of Finance Leases	-2.1	—	-2.1	-4.5	-3.5	-3.5	-10.8	-4.8	-4.1	-5.4	-14.9	-9.5
Dividends Paid	-0.1	-12.1	—	—	—	0.0	-36.4	0.0	0.0	0.0	-0.0	-36.4
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	23.9	45.4	324.0	-50.8	68.2	-161.1	-82.0	5.0	6.2	10.0	-239.1	-48.5
Net Cash Flow During the Period	-200.6	-149.5	268.6	33.5	1.5	46.2	-25.4	62.9	39.8	-18.8	-20.0	38.0
Cash and Cash Equivalents at Beginning of Period	346.6	495.5	227.3	193.5	192.0	68.3	68.3	68.3	68.3	357.1	357.1	357.1
FX Difference from Revaluation	—	0.4	—	0.3	—	0.0	-0.4	0.4	0.0	0.5	-0.0	0.0
Cash and Cash Equivalents at End of Period	146.0	346.4	495.5	227.3	193.5	192.0	145.7	171.5	108.2	68.3	86.6	106.6

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NHH

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