NSC

Tập đoàn Giống cây trồng Việt Nam ·HOSE ·2026Q1

▲ Slightly positive

Operating efficiency is improving Net margin 10.50%, +1.37pp YoY

Price

75,200

Latest close

01 Jun 2026

P/E 5.82x

P/B 0.80x

EPS 12,932

BVPS 93,464

ROE 14.6%

ROA 8.8%

Profit Margin 10.2%

Asset Turnover 0.87x

Equity Mult. 1.66x

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

What Is Changing

On a TTM 2026Q1 basis, NSC posted slightly higher profit versus the same period, but the increase is thin and not yet paired with clear improvement in revenue or margins. The point still to be proven is whether this profit level holds without further revenue momentum.

	                            
	                                TTM REVENUE
	                            
	                                    VND 2,294bn
	                                
−7.0%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 241bn
	                                
+7.0%YoY

Metric	2025	2024	2023	2022	2021
Revenue	2,299.3	2,448.7	2,035.5	1,889.1	1,931.4
Growth	-6%	+20%	+8%	-2%	—
Net Income	226.7	225.6	230.1	226.9	225.6
Net Margin	9.86%	9.21%	11.31%	12.01%	11.68%

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	362.9	770.7	492.7	668.0	368.2	969.1	497.3	632.5	350.5	780.8	422.6	518.7
Growth	-53%	+56%	-26%	+81%	-62%	+95%	-21%	+80%	-55%	+85%	-19%	—
Net Income	41.0	109.4	27.5	63.0	37.6	93.5	37.4	56.9	36.3	109.5	28.4	57.6
Net Margin	11.30%	14.20%	5.58%	9.44%	10.22%	9.64%	7.51%	9.00%	10.37%	14.02%	6.71%	11.10%

Drivers of NSC's profit

TTM

Net profit attributable to parent increased vs last year, mainly helped by lower administrative expenses. Supporting and offsetting drivers:

Administrative expenses ↓ 31.9bn

Selling expenses ↓ 26.3bn

Financial income ↑ 15.8bn

Other profit ↑ 8.7bn

Gross profit ↓ 54.3bn

Finance costs ↑ 13.7bn

TTM

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

Administrative expenses ↓ 5.8bn

Financial income ↑ 4.9bn

Deferred tax ↓ 1.5bn

Selling expenses ↓ 0.8bn

Gross profit ↓ 5.8bn

Finance costs ↑ 3.7bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 14.9% = 9.1% × 1.00 × 1.64

2026Q1 15.1% = 10.5% × 0.87 × 1.66

ROE is broadly flat at 15.1% — the components are offsetting one another.

Net margin: 10.5% +1.4pp Asset turnover: 0.87x -0.13x Leverage: 1.66x +0.02x

Is the profit sustainable?

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

very positive positive stable watch under pressure

What is driving the margin?

Net margin edged up to 10.50%, rising 1.4pp. Core operating signals are improving as SG&A / Revenue fell 1.2pp are enough to offset pressure from Gross margin fell 0.2pp (with additional support from Other profit / Revenue rose 0.4pp and Net financial result / Revenue rose 0.0pp).

The improvement comes from core operations — this is a high-quality margin expansion.

Profitability trend

Net Margin 10.50% +1.4pp

Gross Margin 29.02% −0.2pp

SG&A / Revenue 15.85% −1.2pp

TTM YoY · 2025Q1 -> 2026Q1

Is capital being used efficiently?

Evaluate capital, asset, and working-capital efficiency.

Is capital being deployed efficiently?

ROIC narrowed to 11.13%, falling 0.9pp. That translates to 11.13 in after-tax operating profit for every 100 units of operating capital. Although NOPAT margin rose 1.1pp, capital turnover fell 0.22x still pulled ROIC lower, while invested capital rose by 229bn.

Pressure came from turnover — added capital has not been absorbed quickly enough, a typical investment-cycle dynamic.

CAPITAL EFFICIENCY TREND

ROIC 11.13% −0.9pp

NOPAT Margin 10.25% +1.1pp

Capital Turnover 1.09x −0.22x

Average Invested Capital 2,112.8bn +229.4bn

Balance Sheet

Capital structure is conservative with low leverage — liabilities at 0.62x equity, net debt at 0.28x equity.

Inventory ended the period at 796.5bn, roughly 30.5% of total assets.

Over the last 12 months, working capital released 254.1bn of cash, mainly thanks to lower receivables and lower inventories. Pressure from lower payables only partly offset that benefit.

Working Capital Drivers

Receivables decreased → higher CFO: +74.9bn

Inventories decreased → higher CFO: +243.2bn

Payables decreased → lower CFO: −64.0bn

Working Capital Efficiency

The inventory build-up noted above is reflected in a longer cash cycle. Cash conversion cycle lengthened by 35.0 days versus the same period last year. The main moves came from DIO rose 30.8 days, DSO fell 0.3 days, and DPO fell 4.5 days.

Working capital cycle lengthened mainly due to slower inventory turnover — more capital is being tied up in inventory.

Watchpoints

Cash conversion cycle remains stretched

CCC stands at 245.9 days, suggesting that working capital remains tied up for a relatively long operating cycle.

Inventory turnover is slowing

DIO increased by +30.8 days, suggesting more capital is being tied up in inventories.

Working Capital Efficiency

Receivables 31.5 days −0.3 days

Inventory 231.1 days +30.8 days

Payables 16.6 days −4.5 days

Cash Conversion Cycle 245.9 days +35.0 days

Is financial risk significant?

Check leverage, liquidity, and cash-flow conversion.

Leverage & Liquidity

Leverage looks fairly comfortable, with net debt / equity at 0.28x and interest coverage at 5.23x.

At present, short-term debt accounts for 100.0% of total debt, cash equals 34.9% of debt, and total debt stands at 697.4bn.

Watchpoints

Short-term refinancing pressure is meaningful

Short-term debt accounts for 100.0% of total debt, raising near-term refinancing needs.

Leverage and liquidity trend

Net Debt / Equity 0.28x −0.10x

Interest Coverage 5.23x −1.64x

Cash / Debt 34.9% +9.2pp

Short-term Debt / Total Debt 100.0% 0.0pp

CFO / NI 2.11x +3.09x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

Operating cash flow reached -73.6bn in 2025, against investing cash flow of -147.1bn.

Post-investment cash flow was negative +220.7bn. Financing cash flow was positive +324.2bn.

CFO / net income was 2.11x.

After spending +24.4bn on fixed-asset investment, the business generated trailing free cash flow of +468.2bn.

Cash Conversion

CFO TTM 492.6bn +706.4bn

Cash Capex 24.4bn −98.9bn

FCF TTM +468.2bn +805.2bn

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 1.4 pp. The main risk still sits in working capital is tied up too long in the operating cycle, with CCC extended to 246 days.

Improvement: operating efficiency is getting better, with trailing-12M net margin at 10.50% after expanding 1.4pp versus the same period last year.

Key risk: working capital remains tied up for too long, with cash cycle at 245.9 days.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	2,456.8	2,594.4	2,206.5	2,030.7	2,085.4
Revenue Deductions	157.6	145.7	171.0	141.6	0.0
Net Revenue	2,299.3	2,448.7	2,035.5	1,889.1	1,931.4
Cost of Goods Sold	1,626.3	1,722.9	1,400.8	1,256.1	0.0
Gross Profit	672.9	725.8	634.7	633.0	620.4
Financial Income	28.0	19.0	14.7	12.3	5.5
Financial Expenses	50.0	39.6	37.7	25.7	-31.6
Interest Expense	31.3	17.9	19.1	12.5	-14.7
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	-0.0
Selling Expenses	205.8	235.7	182.5	177.9	-169.6
General and Administrative Expenses	167.1	196.3	172.8	179.2	-177.2
Operating Profit	278.1	273.2	256.5	262.5	247.5
Other Income	8.4	2.0	13.0	12.5	0.0
Other Expenses	10.9	3.2	2.8	9.0	0.0
Other Profit	-2.6	-1.2	10.2	3.5	1.5
Profit Before Tax	275.5	272.1	266.8	266.0	249.0
Current Income Tax Expense	46.2	50.6	37.7	38.6	-23.3
Deferred Income Tax Expense	2.6	-4.1	-1.1	0.5	0.0
Net Income	226.7	225.6	230.1	226.9	225.6
Non-controlling Interest	7.4	7.6	6.6	6.2	6.3
Profit Attributable to Parent	219.3	217.9	223.5	220.6	219.3
Earnings per Share	12,470.51	11,712.00	12,657.00	12,555.00	12,479.00
Diluted EPS	12,470.51	12,392.63	12,657.00	12,555.00	12,470.04

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	1,793.5	1,290.5	1,366.0	1,175.5	1,063.8
I. Cash and cash equivalents	382.2	278.7	478.5	407.9	311.8
1. Cash	302.6	263.2	359.2	321.9	0.0
2. Cash equivalents	79.6	15.5	119.3	86.0	0.0
II. Short-term financial investments	148.5	2.0	60.0	6.8	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	148.5	2.0	60.0	6.8	0.0
III. Short-term receivables	450.2	444.4	378.5	284.8	317.8
1. Short-term trade accounts receivable	302.5	274.0	221.7	225.0	0.0
2. Short-term prepayments to suppliers	37.1	52.9	37.3	48.4	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	100.0	100.0	100.0	0.0	0.0
6. Other short-term receivables	12.8	20.5	21.2	13.2	0.0
7. Provision for short-term doubtful debts (*)	-2.1	-3.0	-1.8	-1.8	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	796.5	553.7	438.2	466.3	422.1
1. Inventories	808.2	562.0	446.0	479.2	0.0
2. Provision for decline in value of inventories	-11.8	-8.3	-7.8	-12.9	0.0
V. Other short-term assets	16.3	11.8	10.8	9.7	7.2
1. Short-term prepayments	3.9	2.7	5.8	1.9	0.0
2. Value added tax to be reclaimed	8.3	7.0	2.5	0.0	0.0
3. Taxes and other receivables from state authorities	4.1	2.1	2.6	7.8	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)	815.0	864.3	855.1	850.2	885.5
I. Long-term receivables	1.2	0.8	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	1.2	0.8	0.0	0.0	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	733.6	767.8	742.9	720.6	735.3
1. Tangible fixed assets	516.9	546.9	523.2	508.6	520.1
- Cost	1,016.4	997.8	923.5	866.6	0.0
- Accumulated depreciation	-499.5	-450.9	-400.3	-358.0	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	216.6	220.9	219.8	212.0	215.3
- Cost	270.9	270.6	264.4	253.3	0.0
- Accumulated depreciation	-54.2	-49.7	-44.6	-41.3	0.0
III. Investment properties	9.5	10.8	10.6	2.4	0.0
- Cost	14.8	14.8	13.4	4.8	0.0
- Accumulated depreciation	-5.3	-4.0	-2.8	-2.3	0.0
IV. Long-term assets in progress	—	10.6	7.7	12.5	14.7
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	—	10.6	7.7	12.5	0.0
V. Long-term financial investments	26.1	26.1	26.1	26.1	26.1
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	26.1	26.1	26.1	26.1	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	44.6	48.2	67.8	88.7	0.0
1. Long-term prepayments	36.2	31.4	31.0	29.5	0.0
2. Deferred income tax assets	8.4	11.0	6.9	5.9	0.0
3. Long-term equipment, supplies, spare parts	—	0.0	0.0	0.0	0.0
4. Other long-term assets	—	0.0	0.8	0.8	109.4
5. Goodwill	—	5.8	29.1	52.5	0.0
VII. Goodwill (before 2015)	—	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	2,608.5	2,154.9	2,221.2	2,025.7	1,949.2
A. LIABILITIES (300=210+330)	959.9	634.2	775.0	674.5	644.6
I. Short -term liabilities	927.4	601.6	742.9	642.8	612.6
1. Short-term trade accounts payable	80.4	121.3	128.7	127.0	97.0
2. Short-term advances from customers	17.8	19.7	15.1	16.2	22.8
3. Taxes and other payables to state authorities	39.1	22.5	23.6	6.8	0.0
4. Payable to employees	13.6	28.8	21.6	42.7	0.0
5. Short-term acrrued expenses	30.4	14.6	20.1	12.8	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	0.3	0.3	0.0	0.0	0.0
9. Other short-term payables	119.0	172.7	194.2	178.8	0.0
10. Short-term borrowings and financial leases	591.4	195.5	315.8	221.0	200.7
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	35.4	26.2	23.7	37.5	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	32.5	32.6	32.1	31.6	31.9
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	1.2	1.3	0.7	0.2	0.0
8. Long-term borrowings and financial leases	—	0.0	0.0	0.0	0.0
9. Convertible bonds	—	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	31.3	31.4	31.4	31.4	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)	1,549.6	1,520.6	1,446.1	1,351.3	1,304.6
I. Owner's equity	1,549.6	1,520.6	1,446.1	1,351.3	0.0
1. Owner's capital	175.9	175.9	175.9	175.9	1,304.6
- Common stock with voting right	175,869,880,000.00	175,869,880,000.00	175,869,880,000.00	175,869,880,000.00	175,869,880,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	331.2	331.2	331.2	331.2	331.2
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	8.0	8.0	0.0	0.0	0.0
5. Treasury shares	-50,000,000.00	-50,000,000.00	-50,000,000.00	-50,000,000.00	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	564.9	553.6	509.4	463.0	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	469.7	358.2	339.9	294.7	247.5
- Accumulated retained earning at the end of the previous period	253.9	162.1	117.2	75.3	31.9
- Undistributed earnings in this period	215.8	196.1	222.7	219.3	215.5
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	—	93.8	89.8	86.5	82.9
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	99.0	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	2,608.5	2,154.9	2,221.2	2,025.7	1,949.2

Item	2025	2024	2023	2022	2021
Profit Before Tax	275.5	272.1	266.8	266.0	0.0
Depreciation of Fixed Assets and Investment Property	67.5	80.7	74.0	74.1	0.0
Provision (Increase)/Reversal	2.6	1.7	-7.5	-4.1	0.0
FX Gain/Loss from Revaluation of Monetary Items	0.7	-3.4	-1.6	-0.4	0.0
Gain/Loss from Investment Activities	-20.7	-14.3	-23.2	-9.5	0.0
Interest Expense	31.3	17.9	19.1	12.5	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	356.8	354.7	327.6	338.5	0.0
Increase/(Decrease) in Receivables	-5.3	-73.6	13.6	7.3	0.0
Increase/(Decrease) in Inventory	-246.3	-116.0	33.3	-40.3	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-56.8	-17.6	-11.9	9.6	0.0
Increase/(Decrease) in Prepaid Expenses	-6.0	2.8	-5.5	1.7	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-30.9	-17.5	-17.3	-12.4	0.0
Corporate Income Tax Paid	-38.9	-53.3	-18.3	-41.5	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-46.2	-67.3	-70.3	-52.1	0.0
Net Cash Flow from Operating Activities	-73.6	12.2	251.1	210.8	-298.9
Payments for Fixed Assets and Other Long-term Assets	-24.4	-92.2	-56.3	-38.0	-18.1
Proceeds from Disposal of Fixed Assets and Long-term Assets	4.7	0.8	12.0	2.5	0.0
Loans and Purchases of Debt Instruments	-187.5	-2.0	-162.0	-5.2	-5.3
Receipts from Loan Repayments and Sale of Debt Instruments	41.0	60.0	8.8	3.3	4.8
Investments in Other Entities	—	0.0	0.0	0.0	-1.9
Proceeds from Investments in Other Entities	—	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	19.0	14.3	10.7	9.4	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	-147.1	-19.1	-186.8	-28.0	-17.2
Proceeds from Equity Issuance and Capital Contributions	—	0.00	0.00	0.00	0.00
Share Repurchases	—	0.00	0.00	0.00	0.00
Proceeds from Borrowings	1,852.8	1,024.5	838.9	549.5	450.3
Repayment of Borrowings	-1,456.8	-1,144.9	-744.1	-529.1	-213.6
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-71.7	-73.4	-90.1	-107.4	-44.0
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	324.2	-193.7	4.8	-87.0	192.7
Net Cash Flow During the Period	103.5	-200.7	69.1	95.8	0.0
Cash and Cash Equivalents at Beginning of Period	278.7	478.5	407.9	311.8	262.1
FX Difference from Revaluation	0.0	0.9	1.5	0.4	0.0
Cash and Cash Equivalents at End of Period	382.2	278.7	478.5	407.9	0.0

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	383.2	792.3	510.5	778.0	378.7	1,020.7	507.1	706.6	365.3	852.0	471.4	582.7
Revenue Deductions	20.3	21.6	17.7	109.9	10.5	51.6	9.8	74.0	14.8	71.2	48.8	64.0
Net Revenue	362.9	770.7	492.7	668.0	368.2	969.1	497.3	632.5	350.5	780.8	422.6	518.7
Cost of Goods Sold	258.0	486.6	398.9	485.0	257.4	675.8	372.5	441.2	233.0	525.0	307.2	350.7
Gross Profit	104.9	284.1	93.8	183.0	110.7	293.3	124.7	191.3	117.5	255.8	115.4	168.0
Financial Income	8.8	8.9	7.8	7.8	3.8	3.9	2.6	7.2	5.4	3.9	3.4	4.2
Financial Expenses	8.8	19.6	9.7	15.7	5.1	13.5	8.1	13.4	4.5	11.5	8.6	12.4
Interest Expense	6.8	8.9	8.9	9.4	4.2	4.1	4.7	5.7	3.4	3.8	5.9	5.5
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	30.8	75.5	34.8	63.2	31.6	94.2	41.4	63.3	35.7	73.1	39.5	46.1
General and Administrative Expenses	23.5	68.9	29.4	37.7	29.3	73.7	38.1	50.3	35.6	61.6	40.8	46.2
Operating Profit	50.6	129.1	27.7	74.2	48.7	115.7	39.7	71.5	46.9	113.4	29.9	67.4
Other Income	0.1	5.3	2.5	0.5	0.0	0.7	-0.3	-0.2	0.7	15.5	0.2	0.7
Other Expenses	0.4	0.2	0.3	0.6	0.5	-0.4	0.9	0.9	1.6	1.7	0.1	1.8
Other Profit	-0.2	5.1	2.2	-0.1	-0.5	1.1	-1.2	-1.1	-0.9	13.7	0.1	-1.1
Profit Before Tax	50.3	134.2	29.9	74.1	48.2	116.8	38.5	70.4	46.0	127.2	30.1	66.3
Current Income Tax Expense	8.6	26.8	-1.6	12.8	8.3	28.0	-0.8	15.3	8.4	19.7	0.7	8.6
Deferred Income Tax Expense	0.8	-2.1	4.0	-1.7	2.3	-4.6	1.9	-1.8	1.2	-2.0	1.0	0.1
Net Income	41.0	109.4	27.5	63.0	37.6	93.5	37.4	56.9	36.3	109.5	28.4	57.6
Non-controlling Interest	-0.2	3.9	0.9	2.8	0.6	3.1	1.0	2.7	0.9	3.5	0.6	2.3
Profit Attributable to Parent	41.2	105.5	26.6	60.3	37.0	90.4	36.4	54.2	35.5	106.0	27.8	55.2
Earnings per Share	2,149.00	5,926.00	1,448.00	3,409.00	2,106.00	4,282.00	2,051.00	3,086.00	2,019.00	6,063.00	1,596.00	3,143.00
Diluted EPS	2,340.49	6,000.59	1,510.74	3,409.00	2,106.00	11,491.00	2,051.00	3,086.00	2,019.00	6,063.00	1,596.00	3,143.00

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)	1,834.7	1,797.7	1,780.5	1,965.9	1,814.6	1,291.8	1,424.7	1,569.7	1,459.9	1,370.2	1,233.8	1,274.3
I. Cash and cash equivalents	243.2	382.2	261.1	400.0	198.9	278.7	201.6	337.0	281.8	478.5	189.5	280.1
1. Cash	168.7	302.6	244.6	375.0	177.9	263.2	168.3	307.5	230.9	359.2	164.0	252.6
2. Cash equivalents	74.5	79.6	16.6	25.0	21.0	15.5	33.3	29.5	50.9	119.3	25.5	27.5
II. Short-term financial investments	418.1	148.5	79.7	57.4	18.0	2.0	5.0	5.0	3.0	60.0	66.5	3.0
1. Available for sale securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Held to maturity investments	418.1	148.5	79.7	57.4	18.0	2.0	5.0	5.0	3.0	60.0	66.5	3.0
III. Short-term receivables	240.4	455.8	383.6	388.7	427.5	445.7	376.6	398.3	404.3	382.2	294.8	240.4
1. Short-term trade accounts receivable	172.2	302.2	210.6	229.9	223.3	274.0	184.3	232.0	206.2	222.1	135.6	174.4
2. Short-term prepayments to suppliers	37.8	37.1	37.3	36.8	77.6	52.9	70.0	49.6	72.9	40.5	36.1	43.8
3. Short-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Short-term loan receivables	—	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	0.0
6. Other short-term receivables	32.4	18.7	37.6	23.9	29.0	20.5	24.0	18.3	26.9	21.3	25.0	24.0
7. Provision for short-term doubtful debts (*)	-1.9	-2.1	-1.9	-1.9	-2.5	-1.7	-1.6	-1.6	-1.6	-1.8	-1.8	-1.8
8. Assets awaiting resolution	—	—	0.0	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	894.9	795.3	1,035.0	1,100.6	1,147.2	553.7	828.4	815.6	754.0	438.6	664.8	737.4
1. Inventories	906.6	808.2	1,043.5	1,109.1	1,155.3	562.0	836.4	823.7	761.7	446.4	675.3	748.0
2. Provision for decline in value of inventories	-11.7	-13.0	-8.5	-8.5	-8.1	-8.3	-8.0	-8.0	-7.7	-7.8	-10.5	-10.5
V. Short-term Biological Assets	5.5	—	—	—	—	—	—	—	—	—	—	—
2. Short-term seasonal or single-harvest crops	5.5	—	—	—	—	—	—	—	—	—	—	—
V. Other short-term assets	32.5	16.0	21.0	19.3	23.0	11.8	13.2	13.8	16.8	10.9	18.2	13.4
1. Short-term prepayments	16.4	3.9	6.9	5.8	8.3	2.6	4.9	5.8	9.7	5.8	8.9	6.1
2. Value added tax to be reclaimed	10.5	8.3	10.8	10.1	8.4	7.0	5.2	4.6	3.3	2.5	0.8	0.2
3. Taxes and other receivables from state authorities	5.6	3.9	3.3	3.3	6.3	2.1	3.1	3.4	3.7	2.5	8.5	7.2
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)	799.3	815.2	824.9	843.2	842.4	862.1	845.7	847.6	834.3	851.9	846.5	831.7
I. Long-term receivables	1.2	2.1	2.1	2.1	2.1	0.8	2.1	2.1	0.0	2.1	2.1	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	1.2	2.1	2.1	2.1	2.1	2.1	2.1	2.1	0.0	2.1	2.1	0.0
7. Provision for long-term doubtful debts	—	—	—	—	—	-1.3	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	720.5	733.6	745.4	759.0	754.4	767.8	724.7	733.8	731.5	742.9	730.3	714.9
1. Tangible fixed assets	503.8	516.9	527.7	540.6	534.7	546.9	503.2	511.0	512.5	523.2	516.5	504.3
- Cost	1,016.5	—	—	—	—	997.8	941.5	936.5	925.7	923.5	907.8	883.6
- Accumulated depreciation	-512.7	—	—	—	—	-450.9	-438.3	-425.5	-413.2	-400.3	-391.4	-379.2
2. Financial leased fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	216.6	216.6	217.7	218.4	219.7	220.9	221.5	222.7	219.0	219.8	213.9	210.6
- Cost	271.7	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-55.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Long-term Biological Assets	0.2	—	—	—	—	—	—	—	—	—	—	—
3. Long-term seasonal or single-harvest crops	0.2	—	—	—	—	—	—	—	—	—	—	—
III. Investment properties	9.2	9.5	9.9	10.2	10.5	10.8	10.5	10.1	10.4	10.6	3.0	3.1
- Cost	14.8	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-5.6	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	—	—	1.6	1.9	10.6	10.6	34.3	19.7	5.4	4.5	16.8	13.3
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	—	—	1.6	1.9	10.6	10.6	34.3	19.7	5.4	4.5	16.8	13.3
V. Long-term financial investments	26.1	26.1	26.1	26.1	26.1	26.1	26.1	26.1	26.1	26.1	26.1	26.1
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	26.1	26.1	26.1	26.1	26.1	26.1	26.1	26.1	26.1	26.1	26.1	26.1
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	42.1	43.9	39.9	43.9	38.6	46.1	48.0	55.9	37.6	36.6	33.3	33.6
1. Long-term prepayments	34.6	34.0	31.6	32.0	29.0	29.3	29.9	30.1	31.1	28.9	27.6	26.7
2. Deferred income tax assets	7.5	8.6	7.0	11.1	8.8	10.2	5.5	7.5	5.7	6.9	4.9	6.1
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	—	1.2	1.2	0.8	0.8	0.8	0.9	0.9	0.8	0.8	0.8	0.8
5. Goodwill	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	—	—	—	—	5.8	11.6	17.4	23.3	29.1	35.0	40.8
TOTAL ASSETS (280=100+200)	2,633.9	2,612.9	2,605.4	2,809.1	2,657.0	2,154.0	2,270.4	2,417.4	2,294.2	2,222.1	2,080.3	2,106.0
A. LIABILITIES (300=210+330)	990.2	952.9	1,043.9	1,232.4	1,105.5	633.3	823.1	1,001.3	825.7	776.0	733.1	801.2
I. Short -term liabilities	957.7	920.3	1,011.3	1,199.7	1,072.9	600.7	790.5	968.6	793.3	743.9	701.1	769.3
1. Short-term trade accounts payable	51.5	80.2	39.1	99.4	96.6	121.3	95.1	77.9	105.4	128.7	70.8	71.4
2. Short-term advances from customers	13.5	17.4	13.7	17.7	14.4	19.7	21.3	11.4	11.9	15.1	25.3	9.0
3. Dividends and profits payable	0.1	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	10.8	29.2	15.7	22.6	8.6	21.6	17.4	19.5	9.9	23.7	12.1	15.6
4. Payable to employees	2.2	16.1	3.7	7.8	4.7	28.8	9.3	13.0	4.2	21.6	9.6	12.1
5. Short-term acrrued expenses	24.3	31.3	22.2	25.0	19.5	14.6	19.1	20.1	20.3	17.8	16.8	14.6
6. Short-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	0.7	0.3	0.9	0.7	0.7	0.3	0.7	0.5	0.7	0.0	0.2	0.5
9. Other short-term payables	133.2	119.2	124.7	131.9	138.2	173.6	172.6	213.4	165.7	197.4	217.6	236.7
10. Short-term borrowings and financial leases	697.4	591.4	753.2	855.0	775.2	195.5	421.4	568.9	452.5	315.8	319.9	358.6
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	23.8	35.4	38.0	39.4	15.1	25.3	33.6	44.0	22.6	23.7	28.8	50.8
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	32.5	32.6	32.6	32.7	32.6	32.6	32.6	32.7	32.4	32.1	32.0	31.9
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	1.2	1.2	1.2	1.4	1.2	1.3	1.3	1.3	1.1	0.7	0.6	0.5
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	31.3	31.3	31.4	31.4	31.4	31.4	31.4	31.4	31.4	31.4	31.4	31.4
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)	1,643.8	1,659.9	1,561.5	1,576.7	1,551.5	1,520.6	1,447.3	1,416.1	1,468.5	1,446.1	1,347.3	1,304.9
I. Owner's equity	1,643.8	1,659.9	1,561.5	1,576.7	1,551.5	1,520.6	1,447.3	1,416.1	1,468.5	1,446.1	1,347.3	1,304.9
1. Owner's capital	175.9	175.9	175.9	175.9	175.9	175.9	175.9	175.9	175.9	175.9	175.9	175.9
- Common stock with voting right	175,869,880,000.00	175,869,880,000.00	175,869,880,000.00	175,869,880,000.00	175,869,880,000.00	175,869,880,000.00	175,869,880,000.00	175,869,880,000.00	175,869,880,000.00	175,869,880,000.00	175,869,880,000.00	175,869,880,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	331.2	331.2	331.2	331.2	331.2	331.2	331.2	331.2	331.2	331.2	331.2	331.2
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	8.0	8.0	8.0	8.0	8.0	8.0	8.0	0.0	0.0	0.0	0.0	0.0
5. Treasury shares	-50,000,000.00	-50,000,000.00	-50,000,000.00	-50,000,000.00	-50,000,000.00	-50,000,000.00	-50,000,000.00	-50,000,000.00	-50,000,000.00	-50,000,000.00	-50,000,000.00	-50,000,000.00
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	565.8	564.9	573.3	578.8	547.2	553.6	554.2	559.8	515.0	509.4	517.8	523.4
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	464.2	480.2	377.4	387.1	394.9	358.2	287.3	252.5	357.3	339.8	235.4	188.7
- Accumulated retained earning at the end of the previous period	423.2	253.9	254.9	290.2	357.9	162.1	162.2	163.2	321.8	116.4	117.6	98.6
- Undistributed earnings in this period	41.0	226.2	122.5	96.9	37.0	196.1	125.1	89.3	35.5	223.4	117.7	90.2
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	98.8	99.9	95.7	95.7	94.4	93.8	90.8	96.7	89.1	89.8	87.0	85.7
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)	2,633.9	2,612.9	2,605.4	2,809.1	2,657.0	2,154.0	2,270.4	2,417.4	2,294.2	2,222.1	2,080.3	2,106.0

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	50.3	123.4	29.9	74.0	48.2	116.8	38.5	70.4	46.0	127.4	30.1	66.4
Depreciation of Fixed Assets and Investment Property	14.3	14.9	15.6	8.3	28.7	19.4	20.3	18.1	20.3	20.5	16.7	18.3
Provision (Increase)/Reversal	-0.2	3.5	0.0	-0.2	-0.8	1.7	0.0	0.4	-0.3	-5.0	0.0	-2.3
FX Gain/Loss from Revaluation of Monetary Items	0.3	1.1	1.7	-2.6	0.5	-1.0	0.5	0.1	-0.6	-0.2	-1.4	-0.2
Gain/Loss from Investment Activities	-3.6	-7.2	-4.2	-7.7	-1.6	-2.3	-2.6	-4.9	-3.7	-14.8	-1.8	-3.5
Interest Expense	6.8	8.8	8.9	9.4	4.2	4.1	4.7	5.7	3.4	3.6	5.9	5.5
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	68.0	144.6	51.8	81.3	79.1	138.8	61.4	89.7	65.2	131.4	49.6	84.3
Increase/(Decrease) in Receivables	100.3	-66.4	9.2	31.8	20.1	-74.9	22.2	-8.4	-17.0	-75.4	31.1	26.2
Increase/(Decrease) in Inventory	-103.9	235.2	65.6	46.2	-593.3	274.5	-13.9	-60.8	-315.7	229.3	72.7	-55.8
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-44.0	71.3	-55.9	-35.4	-36.8	2.0	42.2	-38.2	-48.6	-2.6	57.9	-26.0
Increase/(Decrease) in Prepaid Expenses	-3.9	-1.5	1.4	-2.6	-3.3	2.8	2.1	2.0	-1.9	-0.3	-1.7	-2.7
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	3.2	-3.2	0.0	0.0	0.0
Interest Paid	-4.9	-9.8	-7.0	-9.9	-4.2	-4.2	-6.1	15.9	-23.7	-1.8	-5.2	-6.6
Corporate Income Tax Paid	-7.5	-16.7	-0.0	0.0	-22.1	-22.1	-0.7	-17.6	-12.8	-6.0	-6.3	0.0
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-13.5	-27.0	8.5	-12.8	-15.0	-8.3	-15.3	-24.6	0.0	-11.3	-27.6	-10.7
Net Cash Flow from Operating Activities	-9.3	329.6	73.6	98.6	-575.5	308.7	91.8	-38.8	-357.7	263.1	170.6	8.6
Payments for Fixed Assets and Other Long-term Assets	-34.3	10.0	-18.4	18.4	-34.3	-16.1	-49.2	-23.6	-2.9	-10.0	-5.8	-35.3
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	4.7	—	—	—	5.9	0.1	0.2	0.1	11.8	0.1	-0.0
Loans and Purchases of Debt Instruments	-169.7	-109.8	-20.3	-41.4	-16.0	0.0	0.0	-2.0	-3.0	4.5	-164.5	-2.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	39.0	—	2.0	—	3.0	0.0	0.0	60.0	2.0	1.0	-21.3
Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	5.0	5.2	4.4	7.8	1.6	1.2	4.1	3.5	5.3	3.1	0.5	4.4
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	-199.0	-48.8	-36.4	-13.0	-48.8	-6.0	-45.1	-22.0	59.5	11.4	-168.7	-54.2
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	595.2	346.4	509.3	303.2	693.9	186.5	244.3	288.0	340.7	240.9	198.7	220.9
Repayment of Borrowings	-490.4	-508.1	-611.2	-223.3	-114.3	-412.4	-389.5	-171.7	-204.0	-244.9	-237.4	-98.5
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	-35.3	-0.1	-71.1	34.7	-35.1	-0.7	-35.7	-0.9	-35.8	18.5	-55.0	-0.9
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	69.6	-161.9	-173.0	114.5	544.5	-226.6	-180.9	115.4	100.9	14.4	-93.8	121.5
Net Cash Flow During the Period	-138.7	118.9	-135.8	200.1	-79.7	76.1	-134.2	54.6	-197.2	288.9	-91.9	76.0
Cash and Cash Equivalents at Beginning of Period	382.2	261.1	400.0	198.9	278.7	478.5	478.5	478.5	478.5	407.9	407.9	407.9
FX Difference from Revaluation	-0.3	0.0	-2.1	0.9	-0.0	1.0	-1.2	0.6	0.6	0.1	1.4	0.2
Cash and Cash Equivalents at End of Period	243.2	382.2	261.1	400.0	198.9	278.7	201.6	337.0	281.8	478.5	189.5	280.1

Explore Other Stocks In The Same Sector

HAG, BAF, VSF, VOC, KTC, TCO, CFV, LTG, KGM, SSC, MCF, TAN, BLT, HKT, SEP, FHN, SVN, BHG, HSL, CTP, CNA, VLF, CVN, CPA, FGL, TAR, HKB, AGM, HNG

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

NSC

What Is Changing

Drivers of NSC's profit

Financial Highlights

Is the profit sustainable?

What is driving the margin? ▲

Is capital being used efficiently?

Is capital being deployed efficiently? ▼

Balance Sheet ▲

Working Capital Efficiency ▼▼

Is financial risk significant?

Leverage & Liquidity ▲

Cash Flow ▲▲

Investment Takeaway

Statement Data

What is driving the margin?

Is capital being deployed efficiently?

Balance Sheet

Working Capital Efficiency

Leverage & Liquidity

Cash Flow