THB

Bia Hà Nội - Thanh Hóa ·HNX ·2026Q1

▼ Under pressure

Self-funded cash generation remains weak CFO/NPAT −22 bn, −37 bn YoY

Price

9,200

Latest close

29 May 2026

P/E 39.66x

P/B 0.74x

EPS 232

BVPS 12,369

ROE 3.2%

ROA 1.7%

Profit Margin 0.3%

Asset Turnover 6.52x

Equity Mult. 1.93x

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

What Is Changing

On a TTM 2026Q1 basis, THB posted slightly higher revenue but margins narrowed — the two forces offset each other, leaving the overall picture largely unchanged — earnings have been recovering gradually over multiple periods. More notably, profit relies heavily on non-core sources while operating cash flow is negative — these two factors together suggest earnings quality needs cautious evaluation.

	                            
	                                TTM REVENUE
	                            
	                                    VND 1,770bn
	                                
+6.1%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 5bn
	                                
+0.3%YoY

	                            
	                                Non-core income / PBT
	                            
	                                    1228.6%

Metric	2025	2024	2023	2022	2021
Revenue	1,677.6	1,624.6	1,503.8	1,610.4	1,298.4
Growth	+3%	+8%	-7%	+24%	—
Net Income	4.3	3.8	5.1	10.0	5.6
Net Margin	0.25%	0.23%	0.34%	0.62%	0.43%

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	412.9	443.5	462.6	450.7	320.8	452.8	454.1	440.1	277.5	470.1	427.8	409.9
Growth	-7%	-4%	+3%	+41%	-29%	-0%	+3%	+59%	-41%	+10%	+4%	—
Net Income	-6.7	1.3	7.4	2.6	-7.0	2.5	5.3	3.8	-7.6	1.8	5.2	1.2
Net Margin	-1.63%	0.30%	1.59%	0.58%	-2.19%	0.54%	1.16%	0.87%	-2.76%	0.39%	1.22%	0.30%

Drivers of THB's profit

TTM

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

Other profit ↑ 8.9bn

Gross profit ↑ 6.9bn

Administrative expenses ↓ 2.4bn

Tax ↓ 0.4bn

Selling expenses ↑ 17.4bn

Financial income ↓ 1.1bn

TTM

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

Gross profit ↑ 5.0bn

Other profit ↑ 2.4bn

Selling expenses ↑ 6.8bn

Financial income ↓ 0.1bn

Administrative expenses ↑ 0.1bn

Tax ↑ 0.1bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 3.2% = 0.3% × 6.61 × 1.79

2026Q1 3.2% = 0.3% × 6.52 × 1.93

ROE is broadly flat at 3.2% — the components are offsetting one another.

Net margin: 0.3% -0.0pp Asset turnover: 6.52x -0.09x Leverage: 1.93x +0.14x

Is the profit sustainable?

Margins are under pressure while earnings still rely significantly on non-core sources.

very positive positive stable watch under pressure

What is driving the margin?

Net margin stands at 0.26%, broadly flat versus the same period. Supportive factors and pressure points are offsetting one another.

Margin is nearly flat but the underlying components are moving — this is a transitional phase, more time is needed to see the real trend.

Profitability trend

Net Margin 0.26% −0.0pp

Gross Margin 7.09% −0.0pp

SG&A / Revenue 11.20% +0.2pp

Non-core / Revenue 4.46% +0.2pp

TTM YoY · 2025Q1 -> 2026Q1

Watchpoints

Other income is supporting margin

Margin support from other income remains high (1245.0% of PBT) — sustainability should be monitored.

Is capital being used efficiently?

Capital efficiency should be read in industry context — ROIC may fluctuate with business specifics.

Is capital being deployed efficiently?

Track how much operating profit the business generates on invested capital.

Industry characteristics make ROIC cyclical — this is a reference signal and should be read with the business context.

CAPITAL EFFICIENCY TREND

ROIC — —

NOPAT Margin -2.92% −0.4pp

Capital Turnover — —

Average Invested Capital — —

Balance Sheet

ROIC above should be read with industry context — the balance sheet below adds perspective. Balance sheet is exceptionally sound — liabilities at 1.01x equity, with a net cash position equivalent to 0.17x equity.

Inventory ended the period at 61.5bn, roughly 20.6% of total assets.

Over the last 12 months, working capital absorbed 11.9bn of cash, mainly because of higher receivables. Part of that drag was offset by lower inventories and higher payables.

Working Capital Drivers

Receivables increased → lower CFO: −38.8bn

Inventories decreased → higher CFO: +5.6bn

Payables increased → higher CFO: +21.3bn

Working Capital Efficiency

The inventory build-up noted above is reflected in a longer cash cycle. Cash conversion cycle lengthened by 3.3 days versus the same period last year. The main moves came from DIO fell 0.6 days, DSO rose 3.7 days, and DPO fell 0.2 days.

Working capital cycle lengthened mainly due to slower receivables collection — receivables quality needs monitoring.

Watchpoints

Cash conversion cycle is lengthening

CCC is up by +3.3 days, indicating weaker working-capital turnover versus the prior year.

Receivables collection is slowing

DSO increased by +3.7 days, pointing to slower receivables turnover.

Working Capital Efficiency

Receivables 14.4 days +3.7 days

Inventory 12.4 days −0.6 days

Payables 8.3 days −0.2 days

Cash Conversion Cycle 18.5 days +3.3 days

Is financial risk significant?

Leverage is safe but FCF is negative at 22.4bn due to capex of 8.4bn — an investment choice, not an urgent risk.

Leverage & Liquidity

Track net leverage, interest coverage, and the liquidity buffer on the balance sheet.

Debt maturity and the cash buffer remain the two key areas to monitor.

Some leverage signals are missing, so the current read should be treated as contextual.

Leverage and liquidity trend

Net Debt / Equity -0.17x +0.08x

Interest Coverage — —

Cash / Debt — —

Short-term Debt / Total Debt — —

CFO / NI -3.05x −6.93x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

Operating cash flow reached -47.9bn in 2025, against investing cash flow of 32.3bn.

Post-investment cash flow was negative +15.6bn. Financing cash flow was positive +2.1bn.

CFO / net income was -3.05x.

After spending +8.4bn on fixed-asset investment, the business generated trailing free cash flow of −22.4bn.

Cash Conversion

CFO TTM 14.0bn −31.6bn

Cash Capex 8.4bn +5.0bn

FCF TTM −22.4bn −36.7bn

Investment Takeaway

The business is under real pressure, but the current picture has not turned broadly adverse. A notable area has clearly weakened, making the near-term outlook hard to call bright; even so, other parts of the business are still holding up, with self-funded cash generation remains weak remaining the main constraint. The next watchpoint is the earnings mix, when non-core contribution is 16.4%. The main offsetting support comes from balance-sheet flexibility, with net cash/equity at about -0.17x.

Improvement: the balance sheet remains flexible, with a net cash position equivalent to 0.17x of equity.

Watchpoint: the earnings mix still needs monitoring, with net financial result still accounting for 16.4% of PBT and CFO / net income currently at -3.05x.

Key risk: self-funded cash generation remains weak, with trailing-12M FCF still at 22.4bn.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	1,719.5	1,655.1	1,531.9	1,629.6	1,308.7
Revenue Deductions	41.9	30.5	28.1	19.2	0.0
Net Revenue	1,677.6	1,624.6	1,503.8	1,610.4	1,298.4
Cost of Goods Sold	1,557.1	1,506.8	1,388.8	1,453.6	0.0
Gross Profit	120.5	117.8	115.0	156.8	171.0
Financial Income	1.2	1.9	2.5	2.2	1.8
Financial Expenses	0.1	0.0	0.0	0.0	-0.0
Interest Expense	0.1	0.0	0.0	0.0	-0.0
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	0.0
Selling Expenses	149.1	135.5	132.5	152.9	-119.4
General and Administrative Expenses	42.2	43.1	36.8	54.7	-42.6
Operating Profit	-69.7	-58.9	-51.9	-48.7	10.8
Other Income	79.0	69.6	60.1	65.7	0.0
Other Expenses	3.1	4.8	1.7	3.3	0.0
Other Profit	75.8	64.8	58.4	62.4	-2.5
Profit Before Tax	6.1	5.9	6.4	13.8	8.3
Current Income Tax Expense	1.8	2.0	2.2	3.5	-2.7
Deferred Income Tax Expense	0.1	0.1	-0.8	0.3	0.0
Net Income	4.3	3.8	5.1	10.0	5.6
Non-controlling Interest	—	0.0	0.0	0.0	0.0
Profit Attributable to Parent	4.3	3.8	5.1	10.0	5.6
Earnings per Share	235.00	226.00	256.00	762.00	490.61
Diluted EPS	235.00	226.00	256.00	762.00	490.61

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	234.1	221.5	248.1	239.0	238.6
I. Cash and cash equivalents	31.0	44.5	60.3	44.3	106.4
1. Cash	19.0	39.5	30.3	29.3	0.0
2. Cash equivalents	12.0	5.0	30.0	15.0	0.0
II. Short-term financial investments	6.1	38.1	9.3	15.0	0.0
1. Available for sale securities	—	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	0.0	0.0	0.0	0.0
3. Held to maturity investments	6.1	38.1	9.3	15.0	0.0
III. Short-term receivables	135.6	72.5	118.8	125.0	84.4
1. Short-term trade accounts receivable	119.0	56.6	99.1	90.4	0.0
2. Short-term prepayments to suppliers	5.5	4.5	4.2	19.7	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	14.3	14.6	18.7	18.1	0.0
7. Provision for short-term doubtful debts (*)	-3.2	-3.2	-3.2	-3.2	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	61.5	65.7	59.7	54.7	44.4
1. Inventories	61.5	65.7	59.7	54.7	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	—	0.7	0.0	0.1	0.0
1. Short-term prepayments	—	0.0	0.0	0.1	0.0
2. Value added tax to be reclaimed	—	0.0	0.0	0.0	0.0
3. Taxes and other receivables from state authorities	—	0.7	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)	64.1	58.5	69.6	74.4	69.4
I. Long-term receivables	0.0	0.0	0.0	0.0	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	0.0	0.0	0.0	0.0
6. Other long-term receivables	0.0	0.0	0.0	0.0	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	41.2	46.4	53.2	56.0	47.1
1. Tangible fixed assets	36.8	41.8	49.5	52.3	43.3
- Cost	560.8	582.5	580.3	571.8	0.0
- Accumulated depreciation	-524.0	-540.7	-530.8	-519.5	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	4.4	4.6	3.8	3.8	3.8
- Cost	8.3	8.3	7.3	7.5	0.0
- Accumulated depreciation	-3.9	-3.7	-3.6	-3.7	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	2.9	1.3	0.5	0.5	1.1
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	2.9	1.3	0.5	0.5	0.0
V. Long-term financial investments	—	0.0	0.0	0.0	0.0
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	—	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	0.0	0.0	0.0
6. Other long-term investments	—	0.0	0.0	0.0	0.0
VI. Other long-term assets	20.1	10.8	15.9	17.8	0.0
1. Long-term prepayments	19.4	10.1	15.0	17.8	0.0
2. Deferred income tax assets	0.6	0.7	0.8	0.0	0.0
3. Long-term equipment, supplies, spare parts	—	0.0	0.0	0.0	0.0
4. Other long-term assets	—	0.0	0.0	0.0	21.2
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)	298.2	280.0	317.7	313.4	308.0
A. LIABILITIES (300=210+330)	150.2	132.4	168.8	159.7	158.7
I. Short -term liabilities	136.3	122.6	157.3	147.0	146.2
1. Short-term trade accounts payable	7.2	6.6	38.2	39.6	47.5
2. Short-term advances from customers	32.4	31.9	16.4	3.1	1.2
3. Taxes and other payables to state authorities	22.0	16.0	28.2	28.3	0.0
4. Payable to employees	12.9	11.8	13.6	17.2	0.0
5. Short-term acrrued expenses	0.1	0.2	0.1	0.2	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	55.4	53.3	56.8	55.2	0.0
10. Short-term borrowings and financial leases	5.0	0.0	0.0	0.0	0.0
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	1.3	2.8	4.1	3.4	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	13.9	9.9	11.6	12.7	12.5
1. Long-term trade payables	0.3	0.3	0.3	0.3	0.3
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	13.5	9.6	11.3	12.3	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	—	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)	148.0	147.6	148.8	153.8	149.4
I. Owner's equity	147.6	147.2	148.4	153.4	0.0
1. Owner's capital	114.2	114.2	114.2	114.2	149.0
- Common stock with voting right	114,245,700,000.00	114,245,700,000.00	114,245,700,000.00	114,245,700,000.00	114,245,700,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	4.1	4.1	4.1	4.1	4.1
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	19.4	19.4	19.4	19.4	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	9.9	9.4	10.7	15.6	11.2
- Accumulated retained earning at the end of the previous period	5.6	5.6	5.6	5.6	5.7
- Undistributed earnings in this period	4.3	3.8	5.1	10.0	5.6
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	0.4	0.4	0.4	0.4	0.4
1. Subsidized not-for-profit funds	0.4	0.4	0.4	0.4	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)	298.2	280.0	317.7	313.4	308.0

Item	2025	2024	2023	2022	2021
Profit Before Tax	6.1	5.9	6.4	13.8	8.3
Depreciation of Fixed Assets and Investment Property	8.3	10.0	11.3	15.0	20.3
Provision (Increase)/Reversal	—	0.0	0.0	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	—	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-4.5	-1.9	-2.5	-4.6	0.0
Interest Expense	0.1	0.0	0.0	0.0	0.0
Gain/Loss on Disposal of Fixed Assets	—	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	0.0	0.0	0.0	0.0
Other Adjustments	—	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	10.0	14.1	15.2	24.2	25.6
Increase/(Decrease) in Receivables	-62.8	45.7	6.4	-40.6	0.0
Increase/(Decrease) in Inventory	4.2	-6.0	-5.1	-10.2	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	15.1	-34.3	7.2	2.1	0.0
Increase/(Decrease) in Prepaid Expenses	-9.4	5.0	2.8	3.1	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-0.1	-0.0	0.0	-0.0	0.0
Corporate Income Tax Paid	-2.5	-2.9	-0.9	-3.7	0.0
Other Operating Receipts	0.3	0.4	0.3	0.0	0.0
Other Operating Payments	-2.7	-2.8	-2.7	-1.6	0.0
Net Cash Flow from Operating Activities	-47.9	19.2	23.3	-26.8	33.7
Payments for Fixed Assets and Other Long-term Assets	-4.6	-4.1	-8.4	-23.6	-1.9
Proceeds from Disposal of Fixed Assets and Long-term Assets	3.3	0.0	0.0	2.4	1.2
Loans and Purchases of Debt Instruments	-10.2	-87.4	-39.6	-26.6	-3.4
Receipts from Loan Repayments and Sale of Debt Instruments	42.2	58.7	45.2	15.0	3.4
Investments in Other Entities	—	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	1.6	1.8	2.2	2.2	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	32.3	-31.0	-0.5	-30.7	1.3
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	22.6	10.0	20.0	20.0	7.0
Repayment of Borrowings	-17.6	-10.0	-20.0	-20.0	-7.0
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-2.9	-3.9	-6.9	-4.6	-3.4
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	2.1	-3.9	-6.9	-4.6	-3.4
Net Cash Flow During the Period	-13.5	-15.7	15.9	-62.0	-2.5
Cash and Cash Equivalents at Beginning of Period	44.5	60.3	44.3	106.4	74.8
FX Difference from Revaluation	—	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	31.0	44.5	60.3	44.3	106.4

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	421.2	456.6	476.1	460.1	325.5	464.9	462.7	446.9	280.5	477.3	438.2	416.9
Revenue Deductions	8.3	13.2	13.4	9.4	4.7	12.1	8.6	6.8	3.0	7.3	10.5	7.0
Net Revenue	412.9	443.5	462.6	450.7	320.8	452.8	454.1	440.1	277.5	470.1	427.8	409.9
Cost of Goods Sold	392.5	407.4	425.2	419.2	305.4	423.2	416.3	404.3	262.9	435.7	392.1	373.0
Gross Profit	20.5	36.1	37.5	31.5	15.4	29.6	37.9	35.8	14.6	34.4	35.6	36.9
Financial Income	0.2	0.2	0.4	0.3	0.3	0.8	0.7	0.3	0.1	1.8	0.0	0.3
Financial Expenses	0.0	0.1	—	0.1	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Expense	0.0	0.1	—	0.1	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	36.3	41.7	39.3	38.6	29.5	32.8	37.8	38.5	25.9	41.6	35.4	38.6
General and Administrative Expenses	9.1	9.2	12.1	11.8	9.0	12.2	13.1	10.4	7.8	9.8	10.3	11.6
Operating Profit	-24.7	-14.7	-13.6	-18.7	-22.7	-14.6	-12.4	-12.8	-19.0	-15.2	-10.1	-13.0
Other Income	18.4	16.6	24.5	21.8	16.0	20.1	20.0	17.8	11.6	20.1	16.2	15.2
Other Expenses	0.3	0.2	2.5	0.3	0.3	1.9	1.4	1.2	0.3	2.9	0.3	0.5
Other Profit	18.2	16.4	22.0	21.6	15.8	18.2	18.7	16.6	11.4	17.2	15.9	14.8
Profit Before Tax	-6.6	1.7	8.4	2.8	-6.9	3.6	6.3	3.9	-7.6	2.1	5.9	1.8
Current Income Tax Expense	0.1	0.3	1.0	0.2	0.1	1.1	0.8	0.2	0.0	1.1	0.6	0.0
Deferred Income Tax Expense	0.0	0.0	0.0	0.0	0.0	0.1	0.2	-0.2	0.0	-0.8	0.0	0.5
Net Income	-6.7	1.3	7.4	2.6	-7.0	2.5	5.3	3.8	-7.6	1.8	5.2	1.2
Non-controlling Interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	-6.7	1.3	7.4	2.6	-7.0	2.5	5.3	3.8	-7.6	1.8	5.2	1.2
Earnings per Share	-589.00	115.00	561.00	145.00	-614.00	215.00	390.00	336.00	-669.00	162.00	458.00	106.94
Diluted EPS	-589.00	115.00	561.00	145.00	-614.00	226.00	390.00	336.00	-669.00	162.00	458.00	106.94

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)	215.0	234.0	249.8	260.0	206.5	218.5	241.4	243.6	174.4	248.1	252.2	236.2
I. Cash and cash equivalents	29.2	31.0	39.6	41.8	41.3	44.5	25.7	40.6	37.7	60.3	47.4	37.2
1. Cash	29.2	19.0	22.6	31.8	41.3	39.5	25.7	30.6	27.7	30.3	37.4	37.2
2. Cash equivalents	—	12.0	17.0	10.0	—	5.0	0.0	10.0	10.0	30.0	10.0	0.0
II. Short-term financial investments	8.1	6.1	16.2	23.2	23.1	38.1	77.1	49.0	8.2	9.3	48.4	48.4
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	8.1	6.1	16.2	23.2	23.1	38.1	77.1	49.0	8.2	9.3	48.4	48.4
III. Short-term receivables	124.7	135.4	154.1	144.1	82.7	69.5	88.3	94.4	76.7	118.8	108.7	88.2
1. Short-term trade accounts receivable	90.0	119.0	110.7	101.3	49.4	56.6	51.0	60.2	48.0	99.1	78.0	57.1
2. Short-term prepayments to suppliers	3.3	5.4	3.8	5.5	6.3	1.5	5.3	4.7	7.6	4.2	6.4	10.7
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	34.6	14.3	42.8	40.6	30.2	14.6	35.3	32.7	24.3	18.7	27.4	23.6
7. Provision for short-term doubtful debts (*)	-3.2	-3.2	-3.2	-3.2	-3.2	-3.2	-3.2	-3.2	-3.2	-3.2	-3.2	-3.2
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	52.9	61.5	39.9	50.8	58.6	65.7	50.3	58.9	51.8	59.7	47.7	62.4
1. Inventories	52.9	61.5	39.9	50.8	58.6	65.7	50.3	58.9	51.8	59.7	47.7	62.4
2. Provision for decline in value of inventories	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
V. Other short-term assets	0.1	0.0	0.0	0.0	0.9	0.7	0.0	0.8	0.1	0.0	0.0	0.0
1. Short-term prepayments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Value added tax to be reclaimed	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Taxes and other receivables from state authorities	0.1	0.0	0.0	0.0	0.9	0.7	0.0	0.8	0.1	0.0	0.0	0.0
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)	64.9	63.4	60.2	59.9	56.6	58.5	58.7	62.7	67.0	69.5	70.1	74.1
I. Long-term receivables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Long-term trade receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	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	40.7	40.5	41.8	43.8	45.4	46.4	48.0	50.1	51.5	53.2	50.4	52.3
1. Tangible fixed assets	36.4	36.1	37.4	39.4	40.8	41.8	44.1	46.1	47.8	49.4	46.6	48.6
- Cost	562.7	—	—	—	—	582.5	582.5	582.2	581.3	580.3	574.8	574.1
- Accumulated depreciation	-526.3	—	—	—	—	-540.7	-538.4	-536.1	-533.5	-530.9	-528.2	-525.5
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	4.3	4.4	4.4	4.5	4.5	4.6	3.9	3.9	3.8	3.8	3.8	3.8
- Cost	8.3	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-4.0	—	—	—	—	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	5.2	2.9	0.8	0.7	0.5	1.3	0.3	0.3	0.5	0.5	3.7	3.7
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	5.2	2.9	0.8	0.7	0.5	1.3	0.3	0.3	0.5	0.5	3.7	3.7
V. Long-term financial investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	—	—	—	—	—	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	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	19.0	20.1	17.6	15.4	10.8	10.8	10.4	12.3	14.9	15.9	16.0	18.0
1. Long-term prepayments	18.4	19.4	16.9	14.7	10.1	10.1	9.6	11.3	14.1	15.0	16.0	18.0
2. Deferred income tax assets	0.6	0.6	0.7	0.7	0.7	0.7	0.8	1.0	0.8	0.8	0.0	0.0
3. Long-term equipment, supplies, spare parts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other long-term assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Goodwill	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	279.9	297.4	310.0	319.9	263.1	277.0	300.1	306.3	241.4	317.6	322.3	310.3
A. LIABILITIES (300=210+330)	138.6	149.4	160.4	177.7	122.6	129.5	151.0	162.3	100.2	168.8	175.3	168.6
I. Short -term liabilities	124.7	135.5	148.9	166.8	112.7	119.6	141.1	150.5	88.7	152.6	162.0	154.8
1. Short-term trade accounts payable	36.7	13.6	38.4	49.9	37.2	11.5	33.8	52.5	34.2	45.8	53.4	40.2
2. Short-term advances from customers	2.8	32.4	2.8	2.9	2.7	31.9	1.4	2.4	1.4	16.4	1.7	2.6
3. Dividends and profits payable	0.6	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	13.1	22.1	30.5	40.2	10.8	16.0	40.4	38.4	14.5	28.2	44.1	43.9
4. Payable to employees	4.0	12.9	11.4	8.9	3.2	11.8	10.4	7.5	2.6	13.6	11.7	6.9
5. Short-term acrrued expenses	—	0.1	—	—	—	0.0	0.0	0.0	0.0	0.1	0.0	0.0
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	66.2	48.1	62.4	61.2	49.4	45.6	50.6	44.8	32.2	44.5	45.8	55.0
10. Short-term borrowings and financial leases	—	5.0	—	—	6.6	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	1.3	1.3	3.5	3.8	2.8	2.8	4.5	4.8	3.8	4.1	5.3	6.1
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	13.9	13.8	11.6	10.9	9.9	9.9	9.9	11.9	11.6	16.3	13.3	13.8
1. Long-term trade payables	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3
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	13.6	13.5	11.2	10.6	9.6	9.6	9.6	11.6	11.3	16.0	13.0	12.9
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	0.5
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)	141.3	148.0	149.6	142.2	140.6	147.6	149.1	144.0	141.2	148.8	146.9	141.7
I. Owner's equity	141.3	147.7	149.2	141.8	140.2	147.2	148.7	143.6	140.8	148.4	146.5	141.3
1. Owner's capital	114.2	114.2	114.2	114.2	114.2	114.2	114.2	114.2	114.2	114.2	114.2	114.2
- Common stock with voting right	114,245,700,000.00	114,245,700,000.00	114,245,700,000.00	114,245,700,000.00	114,245,700,000.00	114,245,700,000.00	114,245,700,000.00	114,245,700,000.00	114,245,700,000.00	114,245,700,000.00	114,245,700,000.00	114,245,700,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	4.1	4.1	4.1	4.1	4.1	4.1	4.1	4.1	4.1	4.1	4.1	4.1
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	0.4	—	—	—	—	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	19.4	19.4	19.4	19.4	19.4	19.4	19.4	19.4	19.4	19.4	19.4	19.4
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	3.2	9.9	11.4	4.1	2.4	9.4	11.0	5.8	3.0	10.6	8.8	3.5
- Accumulated retained earning at the end of the previous period	9.9	5.6	8.5	8.5	9.4	5.6	9.6	9.6	10.7	5.6	5.6	5.6
- Undistributed earnings in this period	-6.7	4.3	3.0	-4.4	-7.0	3.8	1.4	-3.8	-7.6	5.0	3.2	-2.1
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	—	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4
1. Subsidized not-for-profit funds	—	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4
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)	279.9	297.4	310.0	319.9	263.1	277.0	300.1	306.3	241.4	317.6	322.3	310.3

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	-6.6	1.8	8.4	2.8	-6.9	3.6	6.3	3.7	-7.6	2.1	5.9	1.8
Depreciation of Fixed Assets and Investment Property	2.3	2.0	2.0	2.1	2.2	2.4	2.4	2.6	2.7	2.7	2.6	2.7
Provision (Increase)/Reversal	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-0.2	-3.3	-0.7	-0.3	-0.3	-0.8	-0.7	-0.3	-0.1	-1.8	-0.0	-0.3
Interest Expense	0.0	0.1	0.0	0.1	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	-4.4	0.6	9.7	4.7	-5.0	5.2	7.9	6.0	-5.1	2.9	8.5	4.2
Increase/(Decrease) in Receivables	10.7	7.5	0.8	-57.7	-13.3	17.9	10.6	-18.5	41.8	-5.0	-25.2	46.5
Increase/(Decrease) in Inventory	8.5	-21.6	11.0	7.7	7.1	-15.4	8.6	-7.1	7.9	-12.0	14.7	-3.6
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-6.3	-1.4	-28.7	57.8	-12.6	-19.8	-14.9	61.6	-67.1	-10.8	18.9	15.6
Increase/(Decrease) in Prepaid Expenses	1.0	-2.5	-2.2	-4.6	-0.0	-0.4	1.7	2.8	0.9	1.0	2.0	-2.8
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-0.0	-0.1	0.0	-0.1	—	-0.0	0.0	0.0	0.0	0.0	0.0	0.0
Corporate Income Tax Paid	-0.3	-1.0	-0.4	-0.1	-1.1	-0.8	-0.4	-0.3	-1.4	-0.3	-0.5	0.0
Other Operating Receipts	—	—	—	—	—	0.4	-0.2	0.4	0.0	0.3	0.0	0.0
Other Operating Payments	-0.0	-2.2	-0.3	-0.3	-0.0	-2.5	0.1	-0.5	-0.3	-1.5	-0.9	-0.3
Net Cash Flow from Operating Activities	9.1	-20.7	-10.1	7.7	-24.9	-15.4	13.4	44.5	-23.3	-25.4	17.6	59.6
Payments for Fixed Assets and Other Long-term Assets	-4.2	-3.4	-0.1	-0.7	-0.4	-1.8	-0.3	-0.9	-1.1	-2.2	-0.7	-2.4
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	3.0	0.3	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	-7.0	-0.1	-5.0	-5.1	—	-10.0	-28.4	-48.7	-0.3	-4.7	0.0	-34.6
Receipts from Loan Repayments and Sale of Debt Instruments	5.0	10.2	12.0	5.0	15.0	49.0	0.3	7.8	1.5	43.8	0.0	0.0
Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	0.3	0.3	0.6	0.2	0.4	-1.5	2.6	0.2	0.6	-3.9	5.4	0.6
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	-5.9	10.0	7.9	-0.6	15.0	35.7	-25.9	-41.6	0.7	32.9	4.7	-36.5
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	3.8	13.0	0.0	3.0	6.6	10.0	0.0	0.0	0.0	20.0	0.0	0.0
Repayment of Borrowings	-8.8	-8.0	0.0	-9.6	—	-10.0	0.0	0.0	0.0	-20.0	0.0	0.0
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	—	-2.9	—	—	—	-1.5	-2.5	0.0	0.0	5.4	-12.1	-0.1
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	-5.0	-4.6	—	—	6.6	-1.5	-2.5	0.0	0.0	5.4	-12.1	-0.1
Net Cash Flow During the Period	-1.8	-8.6	-2.2	0.5	-3.2	18.8	-14.9	2.9	-22.6	12.8	10.2	23.0
Cash and Cash Equivalents at Beginning of Period	31.0	39.6	41.8	41.3	44.5	60.3	60.3	60.3	60.3	44.3	44.3	44.3
FX Difference from Revaluation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	29.2	31.0	39.6	41.8	41.3	44.5	25.7	40.6	37.7	60.3	47.4	37.2

Explore Other Stocks In The Same Sector

SAB, BHN, SBB, SMB, HLB, WSB, BSQ, BSL, BSH, SB1, HHB, HAT, BSP, HAD, BHH, BSD, BHK, BHP, HBH, BBM, SBL, BTB, BQB

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

THB

What Is Changing

Drivers of THB'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