NTP

Nhựa Thiếu niên Tiền Phong ·HNX ·2026Q1

▲▲ Improving positively

Earnings conversion is confirmed CFO/NPAT 1.12x

Price

59,200

Latest close

02 Jun 2026

P/E 9.21x

P/B 2.39x

EPS 6,428

BVPS 24,729

ROE 26.2%

ROA 16.7%

Profit Margin 14.9%

Asset Turnover 1.12x

Equity Mult. 1.57x

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

What Is Changing

On a TTM 2026Q1 basis, NTP is improving on both growth and profitability, painting a notably more positive picture versus the same period — profit is at an all-time high. When both scale and efficiency improve together, this is typically a sign of quality growth.

	                            
	                                TTM REVENUE
	                            
	                                    VND 6,960bn
	                                
+16.4%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 1,035bn
	                                
+23.5%YoY

Metric	2025	2024	2023	2022	2021
Revenue	6,750.8	5,656.6	5,175.9	5,685.1	4,772.4
Growth	+19%	+9%	-9%	+19%	—
Net Income	992.9	735.7	559.4	479.5	465.3
Net Margin	14.71%	13.01%	10.81%	8.44%	9.75%

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	1,478.1	1,881.4	1,609.6	1,990.8	1,269.1	1,826.1	1,201.4	1,680.4	948.7	1,350.6	1,301.2	1,224.3
Growth	-21%	+17%	-19%	+57%	-31%	+52%	-29%	+77%	-30%	+4%	+6%	—
Net Income	254.4	202.8	257.6	320.5	211.9	216.5	171.9	238.2	109.0	164.7	148.2	128.2
Net Margin	17.21%	10.78%	16.00%	16.10%	16.70%	11.86%	14.31%	14.18%	11.49%	12.19%	11.39%	10.47%

Drivers of NTP's profit

TTM

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

Gross profit ↑ 322.4bn

Financial income ↑ 62.6bn

Administrative expenses ↑ 78.5bn

Tax ↑ 37.0bn

Finance costs ↑ 33.9bn

Selling expenses ↑ 29.9bn

TTM

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

Gross profit ↑ 83.7bn

Financial income ↑ 7.6bn

Selling expenses ↑ 19.9bn

Administrative expenses ↑ 10.0bn

Tax ↑ 6.6bn

Finance costs ↑ 6.6bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 24.3% = 14.0% × 1.07 × 1.63

2026Q1 26.2% = 14.9% × 1.12 × 1.57

ROE rose from 24.3% to 26.2% — mainly driven by asset turnover, despite leverage moving in the opposite direction.

Net margin: 14.9% +0.8pp Asset turnover: 1.12x +0.06x Leverage: 1.57x -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 edged up to 14.88%, rising 0.8pp. The main driver is SG&A / Revenue fell 0.5pp and Gross margin rose 0.3pp, moving in line with the stronger net margin (in addition, Net financial result / Revenue rose 0.5pp added support while Other profit / Revenue fell 0.1pp 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 14.88% +0.8pp

Gross Margin 31.27% +0.3pp

SG&A / Revenue 13.87% −0.5pp

TTM YoY · 2025Q1 -> 2026Q1

Is capital being used efficiently?

Capital is being used more efficiently — ROIC rose and cash cycle shortened to 93.1 days.

Is capital being deployed efficiently?

ROIC expanded to 20.10%, rising 2.7pp. That translates to 20.10 in after-tax operating profit for every 100 units of operating capital. Both NOPAT margin rose 1.0pp and capital turnover rose 0.10x, while invested capital rose by 376bn — capital-return quality improved from both sides.

Both margin and turnover contributed — the improvement has a dual foundation and is more durable than a single-pillar expansion.

CAPITAL EFFICIENCY TREND

ROIC 20.10% +2.7pp

NOPAT Margin 14.94% +1.0pp

Capital Turnover 1.35x +0.10x

Average Invested Capital 5,173.9bn +376.2bn

Balance Sheet

ROIC is improving — the asset structure below shows how capital is being allocated. Capital structure is conservative with low leverage — liabilities at 0.67x equity, net debt at 0.21x equity.

Inventory ended the period at 1,441.1bn, roughly 20.4% of total assets.

Over the last 12 months, working capital released 279.6bn 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: +99.1bn

Inventories increased → lower CFO: −77.1bn

Payables increased → higher CFO: +257.5bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 26.2 days versus the same period last year. The main moves came from DIO fell 21.8 days, DSO fell 9.2 days, and DPO fell 4.9 days.

Improvement comes mainly from faster inventory turnover — watch whether this trend persists in coming periods.

Watchpoints

Cash conversion cycle remains stretched

CCC stands at 93.1 days, suggesting that working capital remains tied up for a relatively long operating cycle.

Working Capital Efficiency

Receivables 28.1 days −9.2 days

Inventory 81.0 days −21.8 days

Payables 16.1 days −4.9 days

Cash Conversion Cycle 93.1 days −26.2 days

Is financial risk significant?

Financial risk is low — leverage is safe, both CFO and FCF are positive.

Leverage & Liquidity

Leverage looks fairly comfortable, with net debt / equity at 0.21x and interest coverage at 7.16x.

At present, short-term debt accounts for 100.0% of total debt, cash equals 27.7% of debt, and total debt stands at 1,251.7bn.

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 0.21x −0.21x

Interest Coverage 7.16x +0.00x

Cash / Debt 27.7% +17.4pp

Short-term Debt / Total Debt 100.0% 0.0pp

CFO / NI 1.12x −0.38x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 769.4bn in 2025, against investing cash flow of -182.6bn.

Post-investment cash flow was positive +586.8bn. Financing cash flow was negative +673.2bn.

CFO / net income was 1.12x.

After spending +194.2bn on fixed-asset investment, the business generated trailing free cash flow of +968.6bn.

Cash Conversion

CFO TTM 1,162.8bn −99.5bn

Cash Capex 194.2bn +101.4bn

FCF TTM +968.6bn −200.9bn

Investment Takeaway

The business is entering a broader improvement phase — not just stronger earnings but better operating quality as well. Margin, ROIC, and cash flow all improving shows the business is growing in a cleaner and more efficient way than before. Notably, the improvement trend has been confirmed across multiple cycles, from margin to capital efficiency and cash generation.

Improvement: earnings conversion looks more confirmed, with CFO / net income at 1.12x.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	6,950.0	5,828.5	5,304.8	5,833.5	4,995.5
Revenue Deductions	199.2	172.0	129.0	148.4	0.0
Net Revenue	6,750.8	5,656.6	5,175.9	5,685.1	4,772.4
Cost of Goods Sold	4,658.2	3,886.6	3,619.6	4,294.5	0.0
Gross Profit	2,092.6	1,769.9	1,556.2	1,390.6	1,089.8
Financial Income	167.6	91.6	65.7	64.4	44.3
Financial Expenses	168.2	139.2	159.2	141.9	-75.3
Interest Expense	80.3	48.9	90.1	78.6	-41.4
Share of Associates and Joint Ventures	44.2	22.8	14.9	24.4	22.6
Selling Expenses	640.3	632.9	632.4	620.4	-404.5
General and Administrative Expenses	294.9	227.2	190.1	154.4	-137.2
Operating Profit	1,201.0	885.1	655.2	562.7	539.7
Other Income	13.2	9.2	5.6	3.9	0.0
Other Expenses	18.0	5.8	1.5	2.1	0.0
Other Profit	-4.8	3.4	4.1	1.8	8.3
Profit Before Tax	1,196.2	888.5	659.3	564.5	548.0
Current Income Tax Expense	203.1	152.6	99.6	84.7	-82.7
Deferred Income Tax Expense	0.2	0.2	0.2	0.3	0.0
Net Income	992.9	735.7	559.4	479.5	465.3
Non-controlling Interest	—	0.0	0.0	0.0	-0.0
Profit Attributable to Parent	992.9	735.7	559.4	479.5	465.3
Earnings per Share	5,224.00	4,661.00	3,891.00	3,349.00	3,721.00
Diluted EPS	5,804.94	5,161.35	4,317.29	3,700.86	3,950.08

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	5,142.6	4,472.9	3,501.2	3,075.8	2,721.7
I. Cash and cash equivalents	446.3	532.9	485.3	167.9	842.5
1. Cash	185.0	291.9	474.8	127.9	0.0
2. Cash equivalents	261.3	241.0	10.5	40.1	0.0
II. Short-term financial investments	2,679.0	2,492.0	950.0	432.9	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	2,679.0	2,492.0	950.0	432.9	0.0
III. Short-term receivables	525.2	428.2	889.5	890.9	785.4
1. Short-term trade accounts receivable	374.4	388.3	869.3	866.4	0.0
2. Short-term prepayments to suppliers	157.1	66.8	48.0	73.4	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	—	0.0	0.0	0.0	0.0
6. Other short-term receivables	49.8	28.7	27.2	13.2	0.0
7. Provision for short-term doubtful debts (*)	-56.1	-55.5	-55.0	-62.1	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	1,441.1	1,005.1	1,158.6	1,535.1	1,081.5
1. Inventories	1,441.6	1,005.2	1,158.6	1,538.9	0.0
2. Provision for decline in value of inventories	-0.6	-0.0	0.0	-3.7	0.0
V. Other short-term assets	51.0	14.6	17.7	49.0	12.3
1. Short-term prepayments	47.2	12.5	16.9	12.7	0.0
2. Value added tax to be reclaimed	0.4	1.8	0.4	35.9	0.0
3. Taxes and other receivables from state authorities	3.4	0.4	0.4	0.4	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)	1,905.0	1,942.0	1,952.5	1,988.0	2,176.5
I. Long-term receivables	8.3	0.0	0.0	0.0	0.0
1. Long-term trade receivables	8.3	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	1,237.1	1,265.5	1,328.5	1,410.7	1,463.9
1. Tangible fixed assets	1,237.1	1,258.4	1,321.4	1,403.4	1,456.3
- Cost	3,299.7	3,186.3	3,116.1	3,062.3	0.0
- Accumulated depreciation	-2,062.7	-1,927.9	-1,794.6	-1,658.9	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	—	7.1	7.1	7.3	7.6
- Cost	9.9	17.0	17.0	17.0	0.0
- Accumulated depreciation	-9.9	-9.9	-9.9	-9.6	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	40.6	11.1	47.4	8.7	36.5
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	40.6	11.1	47.4	8.7	0.0
V. Long-term financial investments	513.8	520.0	442.3	424.2	549.8
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	403.7	360.0	337.7	329.5	0.0
3. Investments in other entities	101.4	101.4	96.0	96.0	0.0
4. Provision for diminution in value of long-term investments	-1.3	-1.3	-1.3	-1.3	0.0
5. Held to maturity investments	10.0	60.0	10.0	0.0	0.0
6. Other long-term investments	—	0.0	0.0	0.0	0.0
VI. Other long-term assets	105.4	145.4	134.3	144.4	0.0
1. Long-term prepayments	104.8	144.6	133.2	143.2	0.0
2. Deferred income tax assets	0.6	0.8	1.0	1.3	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	126.3
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)	7,047.7	6,414.9	5,453.7	5,063.8	4,898.2
A. LIABILITIES (300=210+330)	2,815.9	2,748.5	2,338.2	2,233.0	2,192.7
I. Short -term liabilities	2,815.9	2,748.5	2,338.2	2,233.0	2,176.0
1. Short-term trade accounts payable	276.2	313.9	313.3	287.1	232.9
2. Short-term advances from customers	923.3	669.0	10.5	44.2	97.6
3. Taxes and other payables to state authorities	222.1	71.9	60.0	30.5	0.0
4. Payable to employees	55.0	54.7	60.9	60.7	0.0
5. Short-term acrrued expenses	139.7	121.2	147.4	65.8	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	—	0.0	0.0	0.0	0.0
9. Other short-term payables	30.2	29.1	23.9	39.6	0.0
10. Short-term borrowings and financial leases	1,164.9	1,481.8	1,702.7	1,699.3	1,594.0
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	4.6	6.9	19.5	5.8	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	—	0.0	0.0	0.0	16.7
1. Long-term trade payables	—	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	0.0	0.0	0.0	0.0
7. Other long-term liabilities	—	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	—	0.0	0.0	0.0	16.7
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)	4,231.8	3,666.4	3,115.5	2,830.8	2,705.5
I. Owner's equity	4,231.8	3,666.4	3,115.5	2,830.8	0.0
1. Owner's capital	1,710.4	1,425.3	1,295.8	1,295.8	2,705.5
- Common stock with voting right	1,710,382,200,000.00	1,425,322,840,000.00	1,295,753,340,000.00	1,295,753,340,000.00	1,177,961,830,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	—	0.0	0.0	0.0	0.0
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	—	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	1,217.6	1,217.6	1,174.3	1,023.2	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	1,303.8	1,023.4	645.5	511.9	493.0
- Accumulated retained earning at the end of the previous period	310.9	287.8	280.4	256.7	234.4
- Undistributed earnings in this period	992.9	735.7	365.1	255.2	258.6
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)	7,047.7	6,414.9	5,453.7	5,063.8	4,898.2

Item	2025	2024	2023	2022	2021
Profit Before Tax	1,196.2	888.5	659.3	564.5	548.0
Depreciation of Fixed Assets and Investment Property	149.4	152.9	159.0	158.6	126.2
Provision (Increase)/Reversal	1.1	0.6	-10.8	-1.3	0.0
FX Gain/Loss from Revaluation of Monetary Items	0.0	-0.1	0.2	6.1	0.0
Gain/Loss from Investment Activities	-211.6	-115.0	-78.3	-78.6	0.0
Interest Expense	80.3	48.9	90.1	78.6	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	1,215.4	975.8	819.4	727.9	670.9
Increase/(Decrease) in Receivables	-44.8	495.6	74.5	-154.6	0.0
Increase/(Decrease) in Inventory	-436.5	153.5	380.2	-453.9	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	249.4	622.8	31.2	-8.5	0.0
Increase/(Decrease) in Prepaid Expenses	5.0	-10.5	2.1	-17.5	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-79.2	-50.5	-91.1	-75.4	0.0
Corporate Income Tax Paid	-66.6	-134.8	-81.6	-93.7	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-73.4	-67.8	-1.9	-40.1	0.0
Net Cash Flow from Operating Activities	769.4	1,984.0	1,132.8	-115.9	330.2
Payments for Fixed Assets and Other Long-term Assets	-206.2	-76.3	-87.1	-107.3	-92.2
Proceeds from Disposal of Fixed Assets and Long-term Assets	11.1	1.0	0.5	1.0	6.3
Loans and Purchases of Debt Instruments	-3,042.0	-3,092.0	-1,410.0	-838.3	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	2,905.0	1,500.0	882.9	1,255.4	0.0
Investments in Other Entities	—	-5.4	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	149.5	86.7	56.4	59.5	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	-182.6	-1,586.0	-557.3	370.4	-69.9
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	5,012.2	3,667.5	3,495.3	4,618.1	3,564.9
Repayment of Borrowings	-5,329.1	-3,888.4	-3,494.2	-4,534.8	-2,899.4
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-356.3	-129.6	-259.2	-312.2	-295.5
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	-673.2	-350.5	-258.0	-228.9	370.0
Net Cash Flow During the Period	-86.5	47.5	317.4	25.5	70.2
Cash and Cash Equivalents at Beginning of Period	532.9	485.3	167.9	142.5	212.2
FX Difference from Revaluation	-0.1	0.0	-0.0	-0.1	0.0
Cash and Cash Equivalents at End of Period	446.3	532.9	485.3	167.9	842.5

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	1,534.7	1,926.6	1,658.8	2,056.4	1,308.3	1,884.5	1,221.9	1,760.2	962.0	1,373.5	1,373.7	1,236.5
Revenue Deductions	56.5	45.2	49.2	65.6	39.3	58.4	20.5	79.8	13.3	22.9	72.5	12.2
Net Revenue	1,478.1	1,881.4	1,609.6	1,990.8	1,269.1	1,826.1	1,201.4	1,680.4	948.7	1,350.6	1,301.2	1,224.3
Cost of Goods Sold	1,036.0	1,284.0	1,110.6	1,353.0	910.6	1,226.3	858.9	1,127.2	674.3	901.3	909.8	885.5
Gross Profit	442.1	597.5	499.0	637.8	358.4	599.8	342.5	553.2	274.4	449.2	391.4	338.8
Financial Income	44.1	43.2	46.9	40.9	36.6	30.9	24.7	20.4	15.5	11.5	27.5	21.6
Financial Expenses	29.0	56.4	37.8	51.7	22.4	58.2	17.3	43.0	20.7	54.9	28.2	30.5
Interest Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Share of Associates and Joint Ventures	13.7	1.6	4.5	19.4	18.8	9.1	2.9	7.7	3.0	14.4	-5.5	6.1
Selling Expenses	111.6	231.0	131.4	186.2	91.7	242.2	91.4	205.0	94.3	171.5	166.8	131.4
General and Administrative Expenses	57.2	98.1	68.8	80.8	47.2	77.2	50.1	52.0	47.9	54.5	41.8	54.7
Operating Profit	302.3	256.8	312.4	379.4	252.4	262.4	211.4	281.3	130.0	194.2	176.7	149.8
Other Income	0.6	0.9	1.6	9.3	1.4	3.8	1.1	3.6	0.6	1.8	0.8	1.9
Other Expenses	0.1	10.4	0.3	7.1	0.2	1.9	3.5	0.4	0.1	1.3	-0.0	0.0
Other Profit	0.5	-9.5	1.3	2.2	1.2	2.0	-2.4	3.3	0.5	0.5	0.8	1.9
Profit Before Tax	302.8	247.3	313.7	381.6	253.6	264.3	209.0	284.6	130.5	194.6	177.5	151.7
Current Income Tax Expense	48.3	44.4	56.1	61.0	41.7	47.7	37.1	46.3	21.5	29.9	29.3	23.5
Deferred Income Tax Expense	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.0	0.1	0.1	0.1	0.1
Net Income	254.4	202.8	257.6	320.5	211.9	216.5	171.9	238.2	109.0	164.7	148.2	128.2
Non-controlling Interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	254.4	202.8	257.6	320.5	211.9	216.5	171.9	238.2	109.0	164.7	148.2	128.2
Earnings per Share	1,487.00	1,186.00	1,506.00	2,249.00	1,487.00	1,519.00	1,206.00	1,839.00	841.00	1,271.00	1,144.00	989.00
Diluted EPS	1,487.43	1,185.96	1,506.03	2,248.71	1,486.82	1,519.22	1,205.97	1,838.54	841.23	1,270.78	1,143.61	989.29

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)	4,508.2	5,142.6	5,027.2	4,752.6	4,091.8	4,472.9	3,655.4	3,677.9	3,263.4	3,501.2	3,217.9	2,979.9
I. Cash and cash equivalents	346.8	446.3	216.9	310.9	178.0	532.9	226.7	275.9	252.5	485.3	546.0	455.8
1. Cash	346.8	185.0	146.4	310.9	178.0	291.9	226.7	275.9	252.5	474.8	535.5	245.4
2. Cash equivalents	—	261.3	70.5	—	—	241.0	0.0	0.0	0.0	10.5	10.5	210.3
II. Short-term financial investments	2,329.0	2,679.0	2,679.0	2,709.0	2,176.0	2,492.0	1,650.0	1,850.0	1,000.0	950.0	950.0	580.0
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	2,329.0	2,679.0	2,679.0	2,709.0	2,176.0	2,492.0	1,650.0	1,850.0	1,000.0	950.0	950.0	580.0
III. Short-term receivables	683.9	525.2	782.9	547.3	695.8	428.2	635.6	562.1	682.8	889.5	722.8	832.7
1. Short-term trade accounts receivable	502.1	374.4	639.1	457.9	562.5	388.3	595.3	531.3	659.9	869.3	672.2	824.2
2. Short-term prepayments to suppliers	153.1	157.1	136.8	117.1	139.0	66.8	62.8	60.9	59.0	48.0	80.2	51.9
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	84.7	49.8	65.9	30.7	49.8	28.7	32.2	23.2	18.9	27.2	32.5	18.7
7. Provision for short-term doubtful debts (*)	-56.1	-56.1	-58.9	-58.4	-55.5	-55.5	-54.7	-53.3	-55.0	-55.0	-62.1	-62.1
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	1,100.0	1,441.1	1,327.3	1,169.0	1,023.5	1,005.1	1,122.7	969.5	1,300.8	1,158.6	985.7	1,098.3
1. Inventories	1,100.6	1,441.6	1,327.4	1,169.1	1,023.5	1,005.2	1,122.7	969.5	1,300.8	1,158.6	989.5	1,102.0
2. Provision for decline in value of inventories	-0.6	-0.6	-0.0	-0.0	-0.0	-0.0	0.0	0.0	0.0	0.0	-3.7	-3.7
V. Other short-term assets	48.6	51.0	21.2	16.3	18.5	14.6	20.4	20.3	27.3	17.7	13.3	13.2
1. Short-term prepayments	44.7	47.2	20.4	15.0	14.4	12.5	15.3	18.1	17.1	16.9	12.5	12.4
2. Value added tax to be reclaimed	0.4	0.4	0.4	1.0	3.7	1.8	3.2	0.4	9.7	0.4	0.4	0.4
3. Taxes and other receivables from state authorities	3.5	3.4	0.4	0.4	0.4	0.4	1.9	1.9	0.4	0.4	0.4	0.4
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)	1,882.7	1,905.0	1,893.0	1,939.8	1,933.4	1,942.0	1,942.4	1,918.5	1,925.4	1,952.5	1,959.1	1,985.8
I. Long-term receivables	8.3	8.3	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Long-term trade receivables	8.3	8.3	—	—	—	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	1,208.7	1,237.1	1,229.4	1,227.6	1,244.5	1,265.5	1,284.5	1,281.3	1,298.3	1,328.5	1,339.9	1,375.1
1. Tangible fixed assets	1,208.7	1,237.1	1,229.4	1,227.6	1,237.4	1,258.4	1,277.4	1,274.2	1,291.2	1,321.4	1,332.8	1,367.9
- Cost	3,306.3	—	—	—	—	3,186.3	3,177.7	3,137.9	3,121.2	3,116.1	3,091.7	3,090.4
- Accumulated depreciation	-2,097.5	—	—	—	—	-1,927.9	-1,900.3	-1,863.8	-1,830.0	-1,794.6	-1,759.0	-1,722.4
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	—	—	—	—	7.1	7.1	7.1	7.1	7.1	7.1	7.1	7.2
- Cost	9.9	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-9.9	—	—	—	—	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	45.9	40.6	28.9	14.0	9.5	11.1	15.2	47.5	47.5	47.4	53.1	44.8
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	45.9	40.6	28.9	14.0	9.5	11.1	15.2	47.5	47.5	47.4	53.1	44.8
V. Long-term financial investments	518.1	513.8	512.2	557.7	538.8	520.0	510.9	457.9	450.7	442.3	434.7	430.2
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	408.1	403.7	402.1	397.7	378.8	360.0	350.9	347.9	340.7	337.7	330.1	335.5
3. Investments in other entities	101.4	101.4	101.4	101.4	101.4	101.4	101.4	101.4	101.4	96.0	96.0	96.0
4. Provision for diminution in value of long-term investments	-1.3	-1.3	-1.3	-1.3	-1.3	-1.3	-1.3	-1.3	-1.3	-1.3	-1.3	-1.3
5. Held to maturity investments	10.0	10.0	10.0	60.0	60.0	60.0	60.0	10.0	10.0	10.0	10.0	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	101.7	105.4	122.6	140.5	140.6	145.4	131.8	131.7	128.8	134.3	131.4	135.7
1. Long-term prepayments	101.2	104.8	122.0	139.8	139.9	144.6	131.0	130.8	127.9	133.2	130.4	134.6
2. Deferred income tax assets	0.5	0.6	0.6	0.7	0.7	0.8	0.9	0.9	1.0	1.0	1.1	1.1
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	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	6,390.9	7,047.7	6,920.3	6,692.4	6,025.2	6,414.9	5,597.8	5,596.4	5,188.9	5,453.7	5,177.0	4,965.7
A. LIABILITIES (300=210+330)	2,161.3	2,815.9	2,891.3	2,921.0	2,360.7	2,748.5	2,148.0	2,318.4	1,964.4	2,338.2	2,031.8	1,968.7
I. Short -term liabilities	2,161.3	2,815.9	2,891.3	2,921.0	2,360.7	2,748.5	2,148.0	2,318.4	1,964.4	2,338.2	2,031.8	1,968.7
1. Short-term trade accounts payable	155.4	276.2	195.4	200.4	265.7	313.9	333.4	202.5	207.4	313.3	193.7	149.2
2. Short-term advances from customers	388.1	923.3	255.7	487.6	100.9	669.0	146.7	791.1	122.4	10.5	212.1	58.0
3. Taxes and other payables to state authorities	90.7	222.1	187.5	133.3	46.7	71.9	89.6	59.4	21.9	60.0	83.9	26.0
4. Payable to employees	105.9	55.0	92.3	88.6	74.8	54.7	98.0	89.8	77.8	60.9	78.5	85.0
5. Short-term acrrued expenses	145.6	139.7	134.5	146.8	114.1	121.2	94.6	138.4	80.6	147.4	116.2	91.3
6. Short-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Other short-term payables	19.7	30.2	36.3	30.6	25.8	29.1	33.3	31.5	25.4	23.9	28.2	42.4
10. Short-term borrowings and financial leases	1,251.7	1,164.9	1,984.0	1,827.2	1,726.7	1,481.8	1,294.9	947.5	1,410.2	1,702.7	1,299.2	1,496.3
11. Provision for short-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	4.2	4.6	5.7	6.4	6.1	6.9	57.5	58.3	18.7	19.5	19.9	20.4
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Other long-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	—	—	—	—	—	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)	4,229.7	4,231.8	4,029.0	3,771.4	3,664.5	3,666.4	3,449.8	3,277.9	3,224.5	3,115.5	3,145.2	2,997.0
I. Owner's equity	4,229.7	4,231.8	4,029.0	3,771.4	3,664.5	3,666.4	3,449.8	3,277.9	3,224.5	3,115.5	3,145.2	2,997.0
1. Owner's capital	1,710.4	1,710.4	1,710.4	1,425.3	1,425.3	1,425.3	1,425.3	1,295.8	1,295.8	1,295.8	1,295.8	1,295.8
- Common stock with voting right	1,710,382,200,000.00	1,710,382,200,000.00	1,710,382,200,000.00	1,425,322,840,000.00	1,425,322,840,000.00	1,425,322,840,000.00	1,425,322,840,000.00	1,295,753,340,000.00	1,295,753,340,000.00	1,295,753,340,000.00	1,295,753,340,000.00	1,295,753,340,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Treasury shares	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
6. Assets revaluation differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	1,217.6	1,217.6	1,217.6	1,217.6	1,217.6	1,217.6	1,217.6	1,217.6	1,174.3	1,174.3	1,174.3	1,174.3
9. Fund to support corporate restructuring	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	1,301.6	1,303.8	1,101.0	1,128.4	1,021.6	1,023.4	806.9	764.6	754.5	645.5	675.2	527.0
- Accumulated retained earning at the end of the previous period	1,047.2	310.9	310.9	596.0	809.6	287.8	287.8	417.3	645.5	280.4	280.4	280.4
- Undistributed earnings in this period	254.4	992.9	790.0	532.4	211.9	735.7	519.1	347.2	109.0	365.1	394.8	246.6
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)	6,390.9	7,047.7	6,920.3	6,692.4	6,025.2	6,414.9	5,597.8	5,596.4	5,188.9	5,453.7	5,177.0	4,965.7

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	302.8	247.3	313.7	381.6	253.6	264.3	209.0	284.6	130.5	194.6	177.5	151.7
Depreciation of Fixed Assets and Investment Property	36.9	36.5	35.1	40.1	37.7	37.4	35.3	36.0	40.5	38.6	40.7	37.5
Provision (Increase)/Reversal	—	-1.7	—	2.8	—	0.0	1.7	-1.7	0.0	-10.8	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	—	0.1	—	-0.1	—	0.0	-0.1	0.1	0.0	0.6	-0.4	0.8
Gain/Loss from Investment Activities	-56.3	-157.1	62.6	-97.6	-19.6	-12.0	28.2	-42.8	-3.0	-63.7	16.8	-31.2
Interest Expense	18.3	19.7	23.2	19.7	17.6	12.1	13.4	10.5	13.0	16.3	17.4	24.6
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	301.7	147.6	432.0	346.4	289.4	302.0	287.3	286.7	181.0	175.6	252.0	183.4
Increase/(Decrease) in Receivables	-125.6	306.4	-261.6	180.0	-269.5	213.5	-88.0	140.2	198.9	-127.7	104.7	-9.4
Increase/(Decrease) in Inventory	341.1	-114.3	-158.3	-145.6	-18.3	117.5	-153.2	331.3	-142.2	-169.2	112.5	130.7
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-604.5	756.5	-281.5	386.9	-612.5	466.9	-559.0	774.0	-100.6	-16.3	132.5	-358.6
Increase/(Decrease) in Prepaid Expenses	6.1	-9.6	14.2	-2.4	2.8	-10.8	4.5	-78.8	78.3	-84.1	79.1	-74.7
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-18.3	-17.0	-24.8	-18.6	-18.8	-13.1	-8.2	-14.6	-11.5	-19.9	-13.9	-26.0
Corporate Income Tax Paid	-184.4	-13.5	-3.5	-1.9	-47.7	-80.6	-2.8	23.5	-74.9	-32.7	-3.6	-32.7
Other Operating Receipts	5.8	—	—	—	—	4.2	13.2	-16.7	16.7	-11.9	11.9	0.0
Other Operating Payments	-1.9	-55.5	53.6	-67.7	-3.9	-7.2	2.2	1.6	-17.9	8.9	-9.9	-0.9
Net Cash Flow from Operating Activities	-280.1	982.0	-211.4	672.2	-673.5	992.5	-503.9	1,447.2	127.8	-277.1	665.3	-188.3
Payments for Fixed Assets and Other Long-term Assets	-17.4	-79.1	-47.2	-50.5	-29.4	-34.5	-10.7	-18.2	-12.8	-32.7	8.3	-38.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.2	0.8	0.2	9.1	0.9	0.7	0.0	0.2	0.0	0.2	-0.2	0.2
Loans and Purchases of Debt Instruments	-80.4	-1,150.0	-307.0	-1,559.0	-26.0	-2,008.9	-385.8	-1,094.6	-105.4	-100.0	-760.0	-550.0
Receipts from Loan Repayments and Sale of Debt Instruments	430.4	1,150.0	387.0	1,026.0	342.0	1,172.3	530.4	250.0	50.0	100.0	380.0	252.9
Investments in Other Entities	—	—	—	—	—	-5.4	5.4	-5.4	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	17.5	144.9	-72.4	76.9	—	2.6	-32.0	36.5	0.0	42.6	-5.9	19.6
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	350.3	66.6	-39.3	-497.5	287.5	-873.2	107.3	-831.4	-68.1	10.1	-377.8	-315.3
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	722.6	1,169.5	1,353.9	1,425.3	1,063.5	1,215.9	834.9	735.1	881.5	1,054.2	827.4	889.4
Repayment of Borrowings	-635.8	-1,988.6	-1,197.2	-1,324.8	-818.5	-1,029.1	-487.5	-1,197.9	-1,174.0	-653.4	-1,024.7	-853.8
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	-256.6	0.0	0.0	-142.5	-213.8	0.0	0.0	-129.6	0.0	-194.4	0.0	-64.8
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	-169.8	-819.1	156.8	-42.0	31.1	186.9	347.4	-592.3	-292.5	206.4	-197.3	-29.2
Net Cash Flow During the Period	-99.6	229.5	-93.9	132.8	-354.8	306.2	-49.2	23.4	-232.8	-60.6	90.3	-532.8
Cash and Cash Equivalents at Beginning of Period	446.3	216.9	310.9	178.0	532.9	485.3	485.3	485.3	485.3	167.9	167.9	167.9
FX Difference from Revaluation	—	-0.1	—	0.1	—	0.0	0.0	-0.0	0.0	-0.0	-0.0	0.0
Cash and Cash Equivalents at End of Period	346.8	446.3	216.9	310.9	178.0	532.9	226.7	275.9	252.5	485.3	546.0	455.8

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NTP

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