VGP

Cảng Rau Quả ·HNX ·2026Q1

▼ Slightly negative

Capital efficiency remains weak ROE 1.20%, +0.51pp YoY

Price

26,500

Latest close

03 Jun 2026

P/E 12.02x

P/B 0.87x

EPS 2,204

BVPS 30,303

ROE 7.1%

ROA 0.3%

Profit Margin 0.1%

Asset Turnover 2.11x

Equity Mult. 24.03x

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

What Is Changing

On a TTM 2026Q1 basis, VGP is maintaining revenue, but margins are compressing slightly — the growth momentum has held across consecutive periods. What remains unclear is whether this is a short-term fluctuation or costs are starting to outpace revenue.

	                            
	                                TTM REVENUE
	                            
	                                    VND 12,254bn
	                                
+3.0%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 17bn
	                                
+2.0%YoY

Metric	2025	2024	2023	2022	2021
Revenue	11,875.4	10,581.1	12,504.2	12,925.6	10,319.5
Growth	+12%	-15%	-3%	+25%	—
Net Income	17.2	17.0	17.2	20.6	17.0
Net Margin	0.15%	0.16%	0.14%	0.16%	0.16%

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	3,378.2	3,184.0	3,118.5	2,573.5	2,999.3	3,880.0	2,284.1	2,733.8	1,682.3	3,880.4	2,838.1	2,777.8
Growth	+6%	+2%	+21%	-14%	-23%	+70%	-16%	+63%	-57%	+37%	+2%	—
Net Income	0.4	9.1	0.4	7.3	0.4	9.1	0.4	7.0	0.4	11.6	0.4	7.3
Net Margin	0.01%	0.29%	0.01%	0.29%	0.01%	0.23%	0.02%	0.26%	0.02%	0.30%	0.02%	0.26%

Drivers of VGP's profit

TTM

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

Financial income ↑ 49.7bn

Administrative expenses ↓ 0.4bn

Finance costs ↑ 37.3bn

Gross profit ↓ 8.1bn

Other profit ↓ 3.2bn

Selling expenses ↑ 1.0bn

TTM

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

Financial income ↑ 36.3bn

Administrative expenses ↓ 0.2bn

Other profit ↑ 0.0bn

Finance costs ↑ 29.9bn

Gross profit ↓ 5.8bn

Selling expenses ↑ 0.8bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 7.4% = 0.1% × 2.33 × 22.22

2026Q1 7.1% = 0.1% × 2.11 × 24.03

ROE is broadly flat at 7.1% — the components are offsetting one another.

Net margin: 0.1% -0.0pp Asset turnover: 2.11x -0.22x Leverage: 24.03x +1.82x

Is the profit sustainable?

Margins narrowed but earnings quality remains clean — pressure is mainly operational.

very positive positive stable watch under pressure

What is driving the margin?

Net margin stands at 0.14%, 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 0.14% −0.0pp

Gross Margin 0.23% −0.1pp

SG&A / Revenue 0.08% +0.0pp

TTM YoY · 2025Q1 -> 2026Q1

Is capital being used efficiently?

Evaluate capital, asset, and working-capital efficiency.

Is capital being deployed efficiently?

ROIC edged up to 1.20%, rising 0.5pp. That translates to 1.20 in after-tax operating profit for every 100 units of operating capital. The main driver is capital turnover rose 2.88x — the business is generating more revenue per unit of capital, with NOPAT margin steady; while invested capital contracted by 627bn.

Capital turnover improved — a positive signal on asset efficiency, but with ROIC still low, NOPAT margin also needs to lift in coming periods to produce meaningful returns.

Watchpoints

ROIC remains low

ROIC is currently 1.20% — below the typical cost-of-capital threshold; worth tracking whether upcoming periods can rise above this level.

CAPITAL EFFICIENCY TREND

ROIC 1.20% +0.5pp

NOPAT Margin 0.14% +0.0pp

Capital Turnover 8.73x +2.88x

Average Invested Capital 1,402.9bn −627.5bn

Balance Sheet

Leverage is very high, with clear pressure on the capital structure — liabilities at 21.68x equity, net debt at 0.99x equity.

Over the last 12 months, working capital released 1,798.6bn of cash, mainly thanks to lower inventories and higher payables. Pressure from higher receivables only partly offset that benefit.

Working Capital Drivers

Receivables increased → lower CFO: −948.7bn

Inventories decreased → higher CFO: +5.4bn

Payables increased → higher CFO: +2,741.8bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 2.0 days versus the same period last year. The main moves came from DIO fell 0.0 days, DSO rose 15.9 days, and DPO rose 18.0 days.

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

Watchpoints

Receivables collection is slowing

DSO increased by +15.9 days, pointing to slower receivables turnover.

Working Capital Efficiency

Receivables 159.6 days +15.9 days

Inventory 0.1 days −0.0 days

Payables 91.8 days +18.0 days

Cash Conversion Cycle 67.9 days −2.0 days

Is financial risk significant?

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

Leverage & Liquidity

Leverage warrants monitoring, with net debt / equity at 0.99x and interest coverage only at 0.05x.

At present, short-term debt accounts for 100.0% of total debt, cash equals 2.3% of debt, and total debt stands at 252.4bn.

Watchpoints

Interest coverage is thin

Interest coverage is 0.05x, leaving limited room to absorb financing costs.

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 0.99x −7.84x

Interest Coverage 0.05x +0.00x

Cash / Debt 2.3% +2.1pp

Short-term Debt / Total Debt 100.0% 0.0pp

CFO / NI 105.99x +139.16x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 598.8bn in 2025, against investing cash flow of 3.3bn.

Post-investment cash flow was positive +602.1bn. Financing cash flow was negative +666.2bn.

CFO / net income was 105.99x.

After spending +0.1bn on fixed-asset investment, the business generated trailing free cash flow of +1,828.2bn.

Cash Conversion

CFO TTM 1,828.3bn +2,389.2bn

Cash Capex 0.1bn −0.0bn

FCF TTM +1,828.2bn +2,389.2bn

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 capital efficiency remains weak remaining the main constraint, with ROIC at 1.2%. The main offsetting support comes from earnings conversion is confirmed, with CFO/NI at 105.99x.

Improvement: earnings conversion looks more confirmed, with CFO / net income at 105.99x.

Key risk: Capital efficiency remains weak.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	11,875.4	10,581.1	12,504.2	12,925.6	10,319.5
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	11,875.4	10,581.1	12,504.2	12,925.6	10,319.5
Cost of Goods Sold	11,841.2	10,542.8	12,481.1	12,876.1	0.0
Gross Profit	34.1	38.3	23.1	49.6	57.6
Financial Income	370.9	369.5	584.3	339.0	269.0
Financial Expenses	374.5	380.6	576.0	352.5	-292.6
Interest Expense	158.8	188.5	264.2	169.3	-149.1
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	-0.0
Selling Expenses	3.9	4.1	4.6	2.3	-1.7
General and Administrative Expenses	5.4	5.5	5.4	6.5	-10.1
Operating Profit	21.2	17.5	21.4	27.3	22.3
Other Income	0.5	3.8	0.3	0.3	0.0
Other Expenses	0.0	0.1	0.1	1.8	0.0
Other Profit	0.5	3.7	0.2	-1.4	-1.1
Profit Before Tax	21.7	21.3	21.6	25.9	21.3
Current Income Tax Expense	4.4	4.3	4.4	5.3	-4.3
Deferred Income Tax Expense	—	0.0	0.0	0.0	0.0
Net Income	17.2	17.0	17.2	20.6	17.0
Non-controlling Interest	—	0.0	0.0	0.0	-0.0
Profit Attributable to Parent	17.2	17.0	17.2	20.6	17.0
Earnings per Share	2,179.00	2,166.00	2,200.00	2,630.00	2,167.00
Diluted EPS	2,179.00	1,083.00	220.00	2,630.00	2,065.21

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	5,608.6	4,756.8	6,385.5	6,635.0	4,368.6
I. Cash and cash equivalents	42.7	106.8	17.7	25.4	5.1
1. Cash	29.0	97.8	12.4	7.3	0.0
2. Cash equivalents	13.7	9.0	5.3	18.1	0.0
II. Short-term financial investments	11.1	13.7	28.7	0.0	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	11.1	13.7	28.7	0.0	0.0
III. Short-term receivables	5,417.5	4,629.9	6,336.6	6,604.4	4,347.1
1. Short-term trade accounts receivable	5,075.3	4,282.9	5,878.9	6,272.1	0.0
2. Short-term prepayments to suppliers	0.6	0.6	0.6	0.7	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	384.3	389.0	499.8	374.2	0.0
7. Provision for short-term doubtful debts (*)	-42.6	-42.6	-42.6	-42.6	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	137.0	0.0	0.0	0.0	0.0
1. Inventories	137.0	0.0	0.0	0.0	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	0.3	6.4	2.4	5.3	0.6
1. Short-term prepayments	—	3.8	2.1	4.9	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	0.3	2.6	0.3	0.3	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)	29.1	30.5	32.1	33.6	31.5
I. Long-term receivables	—	0.0	0.0	0.0	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	0.0	0.0	0.0	0.0
6. Other long-term receivables	—	0.0	0.0	0.0	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	7.3	9.0	10.7	12.6	10.5
1. Tangible fixed assets	7.3	9.0	10.7	12.6	10.5
- Cost	46.9	46.9	46.9	46.9	0.0
- Accumulated depreciation	-39.6	-37.9	-36.2	-34.3	0.0
2. Financial leased fixed assets	—	0.0	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0	0.0
3. Intangible fixed assets	—	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
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	21.7	21.6	21.5	21.0	21.0
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	21.7	21.6	21.5	21.0	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	0.1	0.0	0.0	0.0	0.0
1. Long-term prepayments	0.1	0.0	0.0	0.0	0.0
2. Deferred income tax assets	—	0.0	0.0	0.0	0.0
3. Long-term equipment, supplies, spare parts	—	0.0	0.0	0.0	0.0
4. Other long-term assets	—	0.0	0.0	0.0	0.0
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)	5,637.7	4,787.3	6,417.6	6,668.6	4,400.0
A. LIABILITIES (300=210+330)	5,389.2	4,552.7	6,195.2	6,458.0	4,204.5
I. Short -term liabilities	5,389.2	4,552.7	6,195.2	6,458.0	4,203.4
1. Short-term trade accounts payable	2,999.2	2,525.5	4,241.2	4,085.5	2,070.9
2. Short-term advances from customers	—	0.0	0.0	0.0	0.0
3. Taxes and other payables to state authorities	2.7	2.5	9.1	3.8	0.0
4. Payable to employees	0.5	0.6	0.6	0.6	0.0
5. Short-term acrrued expenses	11.5	8.1	3.6	25.9	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	1,434.9	412.5	605.4	463.3	0.0
10. Short-term borrowings and financial leases	940.2	1,603.3	1,335.0	1,878.0	1,790.0
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	0.1	0.2	0.4	0.9	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	1.1
1. Long-term trade payables	—	0.0	0.0	0.0	1.1
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	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)	248.5	234.6	222.4	210.6	195.5
I. Owner's equity	248.5	234.6	213.4	210.6	0.0
1. Owner's capital	82.1	82.1	82.1	82.1	195.5
- Common stock with voting right	82,146,920,000.00	82,146,920,000.00	82,146,920,000.00	82,146,920,000.00	82,146,920,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	32.4	32.4	32.4	32.4	32.4
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	-8,157,331,384.00	-8,157,331,384.00	-8,157,331,384.00	-8,157,331,384.00	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	36.9	36.9	36.9	36.9	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	96.2	82.3	70.1	58.3	43.2
- Accumulated retained earning at the end of the previous period	79.0	65.4	52.8	37.7	26.3
- Undistributed earnings in this period	17.2	17.0	17.2	20.6	17.0
12. Reserves for investment in construction	9.0	9.0	0.0	9.0	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	9.0	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	9.0	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)	5,637.7	4,787.3	6,417.6	6,668.6	4,400.0

Item	2025	2024	2023	2022	2021
Profit Before Tax	21.7	21.3	21.6	25.9	21.3
Depreciation of Fixed Assets and Investment Property	1.6	1.7	1.9	1.8	1.9
Provision (Increase)/Reversal	—	0.0	0.0	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	-0.1	1.9	0.0	0.0	0.0
Gain/Loss from Investment Activities	-0.9	-1.0	-0.3	-3.5	0.0
Interest Expense	158.8	188.5	264.2	-169.3	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	181.2	212.4	287.4	-145.2	168.7
Increase/(Decrease) in Receivables	-787.7	1,706.8	267.7	-2,257.2	0.0
Increase/(Decrease) in Inventory	-137.0	0.0	0.0	-0.0	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	1,498.5	-1,919.2	303.9	2,490.3	0.0
Increase/(Decrease) in Prepaid Expenses	3.7	-1.7	2.9	-4.6	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-155.3	-184.1	-286.5	-157.7	0.0
Corporate Income Tax Paid	-4.4	-4.4	-5.2	-2.3	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-0.2	-0.2	-0.5	-1.0	0.0
Net Cash Flow from Operating Activities	598.8	-190.5	569.7	-77.6	-473.5
Payments for Fixed Assets and Other Long-term Assets	-0.1	-0.1	-0.5	-3.9	0.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	-21.6	-40.2	-28.7	-15.7	-513.6
Receipts from Loan Repayments and Sale of Debt Instruments	24.2	55.3	0.0	31.3	528.9
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	0.9	1.0	0.3	3.5	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	3.3	15.9	-28.9	15.2	17.3
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	2,715.3	4,005.9	3,534.6	3,430.4	3,301.2
Repayment of Borrowings	-3,378.4	-3,737.6	-4,077.6	-3,342.3	-2,864.6
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-3.1	-4.7	-5.5	-5.5	0.0
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	-666.2	263.6	-548.5	82.6	436.6
Net Cash Flow During the Period	-64.1	89.1	-7.7	20.2	-13.8
Cash and Cash Equivalents at Beginning of Period	106.8	17.7	25.4	5.1	24.8
FX Difference from Revaluation	—	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	42.7	106.8	17.7	25.4	5.1

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	3,378.2	3,184.0	3,118.5	2,573.5	2,999.3	3,880.0	2,284.1	2,733.8	1,682.3	3,880.4	2,838.1	2,777.8
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	3,378.2	3,184.0	3,118.5	2,573.5	2,999.3	3,880.0	2,284.1	2,733.8	1,682.3	3,880.4	2,838.1	2,777.8
Cost of Goods Sold	3,369.0	3,177.0	3,109.0	2,570.9	2,984.3	3,873.4	2,272.3	2,730.8	1,666.1	3,876.7	2,830.5	2,771.9
Gross Profit	9.2	7.0	9.5	2.6	15.0	6.7	11.8	3.0	16.2	3.8	7.7	5.9
Financial Income	96.1	124.7	61.4	119.2	59.8	109.8	71.6	110.6	77.5	163.1	109.6	209.2
Financial Expenses	102.7	116.4	68.8	110.7	72.8	102.4	80.6	105.6	91.3	148.9	114.4	203.8
Interest Expense	54.8	29.6	23.0	45.6	48.5	49.0	46.9	41.6	50.4	54.1	64.1	81.1
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	1.2	2.1	0.6	0.8	0.4	0.9	1.2	1.2	1.0	1.4	1.0	1.1
General and Administrative Expenses	1.0	1.7	1.1	1.4	1.1	1.8	1.3	1.4	1.0	2.0	1.4	1.1
Operating Profit	0.4	11.5	0.4	8.8	0.4	11.4	0.3	5.4	0.4	14.6	0.5	9.0
Other Income	0.1	0.1	0.1	0.3	0.1	0.1	0.2	3.5	0.1	0.1	0.1	0.1
Other Expenses	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.0	0.0	0.0	0.0
Other Profit	0.1	0.0	0.1	0.3	0.1	0.1	0.2	3.4	0.1	0.0	0.1	0.1
Profit Before Tax	0.5	11.5	0.5	9.2	0.5	11.5	0.5	8.8	0.4	14.6	0.5	9.1
Current Income Tax Expense	0.1	2.4	0.1	1.8	0.1	2.4	0.1	1.8	0.1	3.0	0.1	1.8
Deferred Income Tax Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	0.4	9.1	0.4	7.3	0.4	9.1	0.4	7.0	0.4	11.6	0.4	7.3
Non-controlling Interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	0.4	9.1	0.4	7.3	0.4	9.1	0.4	7.0	0.4	11.6	0.4	7.3
Earnings per Share	50.00	1,167.00	49.00	938.00	49.00	1,160.00	52.00	900.00	45.00	1,485.00	56.00	934.00
Diluted EPS	50.00	1,167.00	49.00	938.00	49.00	2,185.00	52.00	900.00	45.00	1,485.00	56.00	934.00

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)	6,255.3	5,466.0	5,116.6	4,979.9	5,316.0	4,756.8	4,346.0	4,301.9	4,847.8	6,385.9	5,468.0	5,825.1
I. Cash and cash equivalents	5.7	42.7	30.2	80.9	3.2	106.8	4.0	3.0	4.4	17.7	14.4	8.6
1. Cash	1.9	29.0	22.0	63.6	0.3	97.8	1.2	0.6	1.2	12.4	0.2	0.4
2. Cash equivalents	3.8	13.7	8.2	17.3	2.9	9.0	2.8	2.4	3.2	5.3	14.2	8.2
II. Short-term financial investments	11.1	11.1	10.5	10.5	13.7	13.7	9.0	17.6	28.7	28.7	8.6	0.0
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	11.1	11.1	10.5	10.5	13.7	13.7	9.0	17.6	28.7	28.7	8.6	0.0
III. Short-term receivables	6,238.2	5,411.8	5,022.1	4,886.5	5,291.8	4,629.9	4,316.2	4,280.2	4,812.4	6,336.6	5,441.6	5,812.5
1. Short-term trade accounts receivable	5,814.2	5,075.3	4,809.8	4,731.9	4,903.7	4,282.9	4,073.8	4,109.3	4,464.1	5,878.9	4,937.9	5,396.0
2. Short-term prepayments to suppliers	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.7	0.6
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	466.0	378.5	254.3	196.7	430.1	389.0	284.3	213.0	390.4	499.8	545.7	458.6
7. Provision for short-term doubtful debts (*)	-42.6	-42.6	-42.6	-42.6	-42.6	-42.6	-42.6	-42.6	-42.6	-42.6	-42.6	-42.6
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	0.0	0.0	53.5	0.0	5.4	0.0	16.3	0.0	0.0	0.0	0.0	0.0
1. Inventories	0.0	0.0	53.5	0.0	5.4	0.0	16.3	0.0	0.0	0.0	0.0	0.0
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	0.3	0.4	0.3	2.1	1.9	6.4	0.5	1.2	2.2	2.9	3.4	4.0
1. Short-term prepayments	—	0.1	0.0	1.7	1.6	6.1	0.2	0.9	1.9	2.6	3.1	3.6
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	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3
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)	28.6	29.0	29.4	29.8	30.1	30.5	30.9	31.3	31.2	31.6	32.1	32.6
I. Long-term receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Long-term trade receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	6.9	7.3	7.7	8.1	8.5	9.0	9.4	9.8	10.2	10.7	11.1	11.6
1. Tangible fixed assets	6.9	7.3	7.7	8.1	8.5	9.0	9.4	9.8	10.2	10.7	11.1	11.6
- Cost	46.9	—	—	—	—	46.9	46.9	46.9	46.9	46.9	46.9	46.9
- Accumulated depreciation	-40.0	—	—	—	—	-37.9	-37.5	-37.1	-36.6	-36.2	-35.8	-35.3
2. Financial leased fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	—	—	—	—	—	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
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	21.7	21.7	21.6	21.6	21.6	21.6	21.5	21.5	21.0	21.0	21.0	21.0
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	21.7	21.7	21.6	21.6	21.6	21.6	21.5	21.5	21.0	21.0	21.0	21.0
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	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 prepayments	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Deferred income tax assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term equipment, supplies, spare parts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other long-term assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Goodwill	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	6,283.9	5,495.0	5,146.0	5,009.7	5,346.2	4,787.3	4,376.9	4,333.3	4,879.0	6,417.6	5,500.0	5,857.7
A. LIABILITIES (300=210+330)	6,035.0	5,246.4	4,903.4	4,767.5	5,111.2	4,552.6	4,151.2	4,103.5	4,653.8	6,192.7	5,281.3	5,639.4
I. Short -term liabilities	6,035.0	5,246.4	4,903.4	4,767.5	5,111.2	4,552.6	4,151.2	4,103.5	4,653.8	6,192.7	5,281.3	5,639.4
1. Short-term trade accounts payable	3,647.5	2,999.2	3,514.9	2,979.5	2,500.4	2,525.4	1,791.7	2,010.7	2,296.2	4,241.2	3,522.2	3,189.6
2. Short-term advances from customers	0.0	—	0.0	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Dividends and profits payable	2.4	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	—	2.7	5.1	2.7	2.4	2.6	4.6	1.4	2.4	6.5	7.3	5.2
4. Payable to employees	—	0.5	—	—	—	0.6	0.2	0.0	0.2	0.6	0.0	0.0
5. Short-term acrrued expenses	16.9	5.8	7.2	4.2	7.7	8.1	8.8	18.1	30.4	3.6	11.1	23.7
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	2,115.6	1,434.9	744.3	456.0	522.1	412.5	299.9	268.9	794.5	605.4	270.6	220.5
10. Short-term borrowings and financial leases	252.4	803.2	631.8	1,324.9	2,078.4	1,603.3	2,046.0	1,804.0	1,529.8	1,335.0	1,469.6	2,199.6
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	0.1	0.1	0.1	0.2	0.1	0.2	0.2	0.3	0.4	0.4	0.4	0.7
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)	248.9	248.5	242.5	242.1	235.0	234.8	225.7	229.7	225.2	224.9	218.7	218.3
I. Owner's equity	248.9	248.5	242.5	242.1	235.0	234.8	225.7	229.7	225.2	224.9	218.7	218.3
1. Owner's capital	82.1	82.1	82.1	82.1	82.1	82.1	82.1	82.1	82.1	82.1	82.1	82.1
- Common stock with voting right	82,146,920,000.00	82,146,920,000.00	82,146,920,000.00	82,146,920,000.00	82,146,920,000.00	82,146,920,000.00	82,146,920,000.00	82,146,920,000.00	82,146,920,000.00	82,146,920,000.00	82,146,920,000.00	82,146,920,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	32.4	32.4	32.4	32.4	32.4	32.4	32.4	32.4	32.4	32.4	32.4	32.4
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	-8,157,331,384.00	-8,157,331,384.00	-8,157,331,384.00	-8,157,331,384.00	-8,157,331,384.00	-8,157,331,384.00	-8,157,331,384.00	-8,157,331,384.00	-8,157,331,384.00	-8,157,331,384.00	-8,157,331,384.00	-8,157,331,384.00
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	36.9	36.9	36.9	36.9	36.9	36.9	36.9	36.9	36.9	36.9	36.9	36.9
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	9.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	96.6	96.2	90.2	89.9	82.7	82.5	73.4	77.5	72.9	72.6	66.4	66.0
- Accumulated retained earning at the end of the previous period	96.2	79.0	82.1	82.1	82.3	65.4	65.4	70.1	72.6	52.8	58.3	58.3
- Undistributed earnings in this period	0.4	17.2	8.1	7.7	0.4	17.1	8.0	7.4	0.4	19.7	8.1	7.7
12. Reserves for investment in construction	—	9.0	9.0	9.0	9.0	9.0	9.0	9.0	9.0	9.0	9.0	9.0
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)	6,283.9	5,495.0	5,146.0	5,009.7	5,346.2	4,787.3	4,376.9	4,333.3	4,879.0	6,417.6	5,500.0	5,857.7

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	0.5	11.5	0.5	9.2	0.5	11.5	0.5	9.1	0.4	11.5	0.5	9.1
Depreciation of Fixed Assets and Investment Property	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.5	0.5
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	-0.4	-3.8	2.5	2.9	-1.6	1.9	-0.2	6.6	0.0	2.9	-2.9	2.9
Gain/Loss from Investment Activities	-0.1	-0.3	-0.1	-0.4	-0.1	-0.2	-0.1	-0.5	-0.2	-0.1	-0.1	-0.1
Interest Expense	54.8	34.9	29.7	94.1	—	49.0	46.9	42.1	50.4	54.1	64.1	81.1
Gain/Loss on Disposal of Fixed Assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Adjustments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	55.1	42.7	33.0	106.3	-0.8	62.5	47.5	57.7	51.0	68.9	62.1	93.6
Increase/(Decrease) in Receivables	-820.6	-392.4	-141.0	405.3	-659.6	-315.6	-41.6	531.3	1,524.2	-895.0	370.9	244.7
Increase/(Decrease) in Inventory	137.0	-83.6	-53.5	5.4	-5.4	16.3	-16.3	0.0	0.0	0.0	0.0	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	1,331.0	173.3	831.6	406.0	87.6	843.6	-178.2	-822.9	-1,757.6	1,052.7	387.8	-264.7
Increase/(Decrease) in Prepaid Expenses	0.1	-0.1	1.7	-0.1	2.2	-5.9	0.6	0.6	0.6	1.0	0.5	0.6
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-49.4	-30.6	-29.3	-95.1	-0.3	-49.7	-56.8	-53.9	-23.6	-61.6	-76.7	-86.7
Corporate Income Tax Paid	-2.4	-1.9	-0.1	0.0	-2.3	-1.3	0.0	-0.1	-3.0	-1.9	-0.1	0.0
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-0.0	-0.0	-0.1	-0.1	-0.0	-0.0	-0.2	-0.1	0.0	-0.0	-0.3	-0.2
Net Cash Flow from Operating Activities	650.8	-292.5	642.4	827.6	-578.7	550.0	-244.9	-287.3	-208.3	164.0	744.2	-12.8
Payments for Fixed Assets and Other Long-term Assets	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.1	0.0	-0.5	0.0	0.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	—	-11.1	0.0	-10.5	—	0.0	25.6	-9.0	-8.6	-20.2	-8.6	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	10.5	0.0	13.7	—	-4.7	-17.1	20.2	8.6	0.0	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	0.1	0.3	0.1	0.4	0.1	0.2	0.1	0.5	0.2	0.1	0.1	0.1
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	0.1	-0.3	0.1	3.5	0.0	-4.5	8.6	11.6	0.2	-20.6	-8.5	0.1
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	252.4	594.4	524.9	130.7	1,465.3	613.1	1,266.4	779.6	1,346.8	594.0	741.0	728.6
Repayment of Borrowings	-940.2	-286.0	-1,218.0	-884.2	-990.2	-1,055.8	-1,024.4	-505.4	-1,152.0	-728.6	-1,471.0	-712.4
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	—	-3.1	—	—	—	0.0	-4.7	0.0	0.0	-5.5	0.0	0.0
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	-687.8	305.3	-693.1	-753.5	475.1	-442.7	237.3	274.2	194.8	-140.1	-730.0	16.2
Net Cash Flow During the Period	-37.0	12.4	-50.6	77.7	-103.6	102.8	1.0	-1.5	-13.3	3.3	5.8	3.5
Cash and Cash Equivalents at Beginning of Period	42.7	30.2	80.9	3.2	106.8	17.7	17.7	17.7	17.7	25.4	25.4	25.4
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	5.7	42.7	30.2	80.9	3.2	106.8	4.0	3.0	4.4	17.7	14.4	8.6

Explore Other Stocks In The Same Sector

CLX, TH1, VHF, PIT, TGG, ASA

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

VGP

What Is Changing

Drivers of VGP'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