Income Statement
Balance Sheet
Cash Flow
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | 342.0M | 368.0M | 444.0M | 370.0M | 558.0M |
| Revenue Growth % | -7.1% | -17.1% | 20.0% | -33.7% | -- |
| Total Revenue | 342.0M | 368.0M | 444.0M | 370.0M | 558.0M |
| Cost Of Revenue | 240.0M | 206.0M | 198.0M | 107.0M | 128.0M |
| Gross Profit | 102.0M | 162.0M | 246.0M | 263.0M | 430.0M |
| Gross Margin % | 29.8% | 44.0% | 55.4% | 71.1% | 77.1% |
| Total Operating Cost | 456.0M | 410.0M | 436.0M | 407.0M | 408.0M |
| Selling Expenses | 25.0M | 20.6M | 20.4M | 19.9M | 26.9M |
| Admin Expenses | 55.2M | 60.2M | 60.6M | 63.4M | 75.6M |
| Finance Expenses | 86.4M | 83.1M | 92.6M | 65.6M | 80.0M |
| Operating Income | -230.0M | -164.0M | -246.0M | -451.0M | 132.0M |
| Operating Margin % | -67.3% | -44.6% | -55.4% | -121.9% | 23.7% |
| Non Operating Income | 2.9M | 23.0M | 2.1M | 1.6M | 22.0M |
| Non Operating Expenses | 502,100 | 266,000 | 5.2M | 9.0M | 19.4M |
| Investment Income | -17.9M | -12.8M | 2.7M | -16.3M | 10.9M |
| Fair Value Change Income | -99.1M | -109.0M | -258.0M | -412.0M | -30.0M |
| Asset Disposal Income | 43,500 | -- | -- | -7,100 | 110,200 |
| Asset Impairment Loss | 24.8M | 10.6M | 29.7M | 75.5M | -- |
| Other Income | 564,000 | 308,500 | 707,000 | 14.1M | 356,700 |
| Income Before Tax | -228.0M | -141.0M | -249.0M | -459.0M | 134.0M |
| Income Tax | -12.1M | -7.5M | -24.9M | -76.6M | 51.6M |
| Net Income | -216.0M | -134.0M | -224.0M | -382.0M | 82.8M |
| Net Margin % | -63.2% | -36.4% | -50.5% | -103.2% | 14.8% |
| Net Income Attributable | -218.0M | -129.0M | -227.0M | -384.0M | 64.3M |
| Minority Interest | 2.2M | -4.4M | 3.2M | 1.8M | 18.5M |
| Eps Basic | -0.29 | -0.16 | -0.31 | -0.51 | 0.09 |
| Eps Diluted | -0.29 | -0.16 | -0.31 | -0.51 | 0.09 |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|---|
| Cash And Equivalents | 58.1M | 79.0M | 120.0M | 53.2M | 119.0M |
| Trading Financial Assets | -- | -- | -- | -- | -- |
| Accounts Receivable | 16.6M | 18.5M | 28.3M | 14.7M | 8.6M |
| Notes And Accounts Receivable | 16.6M | 18.5M | 28.3M | 14.7M | 8.6M |
| Prepayments | 1.4M | 1.1M | 1.3M | 656,300 | 1.5M |
| Inventory | -- | -- | 5.6M | 5.7M | 5.7M |
| Total Current Assets | 105.0M | 140.0M | 182.0M | 87.8M | 174.0M |
| Long Term Equity Investment | 570.0M | 603.0M | 621.0M | 898.0M | 990.0M |
| Fixed Assets | 43.2M | 44.5M | 47.8M | 43.7M | 54.2M |
| Fixed Assets Total | 43.2M | 44.5M | 47.8M | 43.7M | 54.3M |
| Construction In Progress | -- | -- | -- | -- | -- |
| Construction In Progress Total | -- | -- | -- | -- | -- |
| Intangible Assets | 1.7M | 1.6M | 634,700 | 1.2M | 1.3M |
| Long Term Deferred Expenses | 97.5M | 110.0M | 129.0M | 1.4M | 1.6M |
| Total Non Current Assets | 4.4B | 4.7B | 5.0B | 4.8B | 5.4B |
| Total Assets | 4.5B | 4.8B | 5.2B | 4.8B | 5.6B |
| Short Term Borrowings | -- | -- | -- | 9.9M | -- |
| Accounts Payable | 47.5M | 46.2M | 65.0M | 60.2M | 46.4M |
| Advance Receipts | 26.0M | 30.2M | 33.9M | 32.6M | 39.1M |
| Contract Liabilities | 3.3M | 2.9M | 4.2M | 1.7M | 13.2M |
| Total Current Liabilities | 634.0M | 663.0M | 775.0M | 750.0M | 878.0M |
| Long Term Borrowings | 270.0M | 337.0M | 345.0M | 424.0M | 498.0M |
| Total Non Current Liabilities | 1.3B | 1.4B | 1.4B | 908.0M | 1.1B |
| Total Liabilities | 1.9B | 2.1B | 2.2B | 1.7B | 2.0B |
| Paid In Capital | 750.0M | 750.0M | 750.0M | 750.0M | 750.0M |
| Capital Reserve | 536.0M | 537.0M | 550.0M | 511.0M | 512.0M |
| Surplus Reserve | 130.0M | 130.0M | 130.0M | 130.0M | 130.0M |
| Retained Earnings | 539.0M | 757.0M | 880.0M | 1.1B | 1.5B |
| Minority Equity | 481.0M | 483.0M | 489.0M | 495.0M | 502.0M |
| Equity Attributable | 2.1B | 2.3B | 2.5B | 2.7B | 3.2B |
| Total Equity | 2.6B | 2.8B | 3.0B | 3.2B | 3.7B |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|---|
| Cash From Sales | 356.0M | 421.0M | 494.0M | 378.0M | 627.0M |
| Tax Refunds Received | -- | 295,300 | -- | 638,400 | -- |
| Total Operating Cash Inflow | 478.0M | 497.0M | 595.0M | 399.0M | 643.0M |
| Cash Paid For Goods | 45.0M | 83.3M | 83.6M | 33.5M | 29.4M |
| Cash Paid To Employees | 74.0M | 54.3M | 53.1M | 47.5M | 56.0M |
| Taxes Paid | 47.8M | 40.7M | 133.0M | 125.0M | 211.0M |
| Total Operating Cash Outflow | 313.0M | 304.0M | 453.0M | 240.0M | 428.0M |
| Operating Cash Flow | 165.0M | 193.0M | 142.0M | 159.0M | 214.0M |
| Total Investing Cash Inflow | 1.3M | 1.0M | 103.0M | 15.4M | 146,400 |
| Total Investing Cash Outflow | 6.7M | 53.3M | 2.7M | 2.4M | 3.9M |
| Investing Cash Flow | -5.4M | -52.3M | 100.0M | 13.0M | -3.8M |
| Cash From Borrowings | 60.0M | 104.0M | -- | 9.9M | 380.0M |
| Dividends And Interest Paid | 59.5M | 48.1M | 31.8M | 46.3M | 65.3M |
| Debt Repayments | 99.5M | 156.0M | 76.6M | 315.0M | 490.0M |
| Total Financing Cash Inflow | 60.0M | 124.0M | 762,000 | 180.0M | 577.0M |
| Total Financing Cash Outflow | 226.0M | 286.0M | 224.0M | 419.0M | 920.0M |
| Financing Cash Flow | -166.0M | -162.0M | -224.0M | -238.0M | -343.0M |
| Net Change In Cash | -6.7M | -20.5M | 18.3M | -65.5M | -133.0M |
| Ending Cash Balance | 50.0M | 56.6M | 77.1M | 28.7M | 94.3M |
| Capex | 4.7M | 13.4M | 1.7M | 1.4M | 3.9M |