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 | 1.9B | 1.8B | 1.5B | 1.2B | 986.0M |
| Revenue Growth % | 7.1% | 15.4% | 22.7% | 25.4% | -- |
| Total Revenue | 1.9B | 1.8B | 1.5B | 1.2B | 986.0M |
| Cost Of Revenue | 1.7B | 1.6B | 1.3B | 1.1B | 902.0M |
| Gross Profit | 167.0M | 194.0M | 170.0M | 119.0M | 84.0M |
| Gross Margin % | 8.9% | 11.1% | 11.2% | 9.6% | 8.5% |
| Total Operating Cost | 2.3B | 2.1B | 1.8B | 1.9B | 1.5B |
| Selling Expenses | 6.9M | 7.3M | 8.8M | 24.6M | 13.8M |
| Admin Expenses | 293.0M | 247.0M | 236.0M | 214.0M | 209.0M |
| Rd Expenses | 16.3M | 20.8M | 15.7M | 15.3M | 8.9M |
| Finance Expenses | 78.0M | 167.0M | 193.0M | 244.0M | 124.0M |
| Operating Income | -467.0M | -303.0M | -297.0M | -771.0M | -536.0M |
| Operating Margin % | -24.9% | -17.3% | -19.6% | -62.4% | -54.4% |
| Non Operating Income | 2.0M | 24.3M | 20.1M | 10.4M | 1.5M |
| Non Operating Expenses | 2.7M | 11.5M | 4.6M | 17.1M | 7.4M |
| Investment Income | -2.6M | 200,500 | -958,700 | -76.7M | -1.7M |
| Asset Disposal Income | 637,100 | -2.3M | 553,400 | 318,500 | 1.8M |
| Asset Impairment Loss | 226.0M | 31.7M | 6.5M | 300.0M | 252.0M |
| Other Income | 10.4M | 10.5M | 9.5M | 6.0M | 16.2M |
| Income Before Tax | -467.0M | -290.0M | -281.0M | -777.0M | -541.0M |
| Income Tax | 51.0M | -27.4M | -18.7M | 25.8M | 14.2M |
| Net Income | -518.0M | -263.0M | -263.0M | -803.0M | -556.0M |
| Net Margin % | -27.6% | -15.0% | -17.3% | -65.0% | -56.4% |
| Net Income Attributable | -518.0M | -262.0M | -262.0M | -802.0M | -555.0M |
| Minority Interest | -368,900 | -1.0M | -1.0M | -1.1M | -981,300 |
| Eps Basic | -0.51 | -0.30 | -0.39 | -1.19 | -0.83 |
| Eps Diluted | -0.51 | -0.30 | -0.39 | -1.19 | -0.83 |
| 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 | 1.4B | 113.0M | 719.0M | 75.8M | 138.0M |
| Trading Financial Assets | -- | -- | -- | -- | -- |
| Accounts Receivable | 576.0M | 484.0M | 419.0M | 242.0M | 259.0M |
| Notes Receivable | 36.3M | 37.1M | 23.9M | 29.3M | 10.1M |
| Notes And Accounts Receivable | 612.0M | 521.0M | 443.0M | 272.0M | 270.0M |
| Prepayments | 31.8M | 30.3M | 24.6M | 17.2M | 30.3M |
| Inventory | 637.0M | 532.0M | 472.0M | 373.0M | 287.0M |
| Total Current Assets | 2.7B | 1.3B | 1.7B | 770.0M | 813.0M |
| Long Term Equity Investment | 33.5M | 36.2M | 36.9M | 37.9M | 115.0M |
| Fixed Assets | 934.0M | 873.0M | 855.0M | 785.0M | 785.0M |
| Fixed Assets Total | 934.0M | 873.0M | 855.0M | 785.0M | 785.0M |
| Construction In Progress | 94.3M | 106.0M | 53.9M | 125.0M | 109.0M |
| Construction In Progress Total | 94.3M | 106.0M | 53.9M | 125.0M | 109.0M |
| Intangible Assets | 113.0M | 112.0M | 136.0M | 153.0M | 192.0M |
| Long Term Deferred Expenses | 45.8M | 36.4M | 40.2M | 35.6M | 35.3M |
| Total Non Current Assets | 1.9B | 2.1B | 2.1B | 2.0B | 2.4B |
| Total Assets | 4.6B | 3.4B | 3.8B | 2.8B | 3.2B |
| Short Term Borrowings | 510.0M | 1.4B | 1.4B | 1.2B | 1.2B |
| Accounts Payable | 332.0M | 259.0M | 227.0M | 224.0M | 197.0M |
| Advance Receipts | 721,000 | 4.1M | 2.9M | -- | -- |
| Contract Liabilities | 10.0M | 8.5M | 1.5M | 2.1M | 8.2M |
| Total Current Liabilities | 1.1B | 2.1B | 2.4B | 2.9B | 2.3B |
| Long Term Borrowings | 24.5M | 10.9M | 40.8M | 66.9M | 350.0M |
| Total Non Current Liabilities | 190.0M | 1.2B | 1.0B | 347.0M | 550.0M |
| Total Liabilities | 1.3B | 3.3B | 3.4B | 3.2B | 2.8B |
| Paid In Capital | 1.4B | 873.0M | 873.0M | 672.0M | 672.0M |
| Capital Reserve | 6.1B | 2.9B | 2.9B | 2.0B | 2.0B |
| Surplus Reserve | 47.0M | 47.0M | 47.0M | 47.0M | 47.0M |
| Retained Earnings | -4.1B | -3.6B | -3.3B | -3.0B | -2.2B |
| Minority Equity | 4.6M | -11.6M | -10.5M | -9.8M | -8.7M |
| Equity Attributable | 3.3B | 101.0M | 428.0M | -389.0M | 429.0M |
| Total Equity | 3.3B | 89.0M | 417.0M | -399.0M | 420.0M |
| 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 | 2.1B | 1.9B | 1.6B | 1.5B | 999.0M |
| Tax Refunds Received | 53.5M | 47.0M | 46.5M | 47.0M | 46.6M |
| Total Operating Cash Inflow | 2.1B | 2.0B | 1.6B | 1.5B | 1.1B |
| Cash Paid For Goods | 1.2B | 1.2B | 952.0M | 840.0M | 690.0M |
| Cash Paid To Employees | 700.0M | 659.0M | 561.0M | 476.0M | 275.0M |
| Taxes Paid | 198.0M | 196.0M | 267.0M | 188.0M | 175.0M |
| Total Operating Cash Outflow | 2.2B | 2.1B | 1.9B | 1.6B | 1.3B |
| Operating Cash Flow | -86.5M | -97.0M | -246.0M | -56.5M | -180.0M |
| Total Investing Cash Inflow | 31.2M | 7.4M | 25.2M | 215.0M | 75.3M |
| Total Investing Cash Outflow | 125.0M | 178.0M | 161.0M | 350.0M | 180.0M |
| Investing Cash Flow | -93.8M | -170.0M | -136.0M | -134.0M | -104.0M |
| Cash From Borrowings | 2.1B | 2.6B | 3.5B | 842.0M | 2.8B |
| Dividends And Interest Paid | 10.3M | 118.0M | 182.0M | 156.0M | 182.0M |
| Debt Repayments | 1.8B | 2.7B | 3.2B | 571.0M | 2.2B |
| Total Financing Cash Inflow | 4.4B | 2.8B | 4.5B | 907.0M | 2.8B |
| Total Financing Cash Outflow | 2.9B | 2.9B | 3.7B | 753.0M | 2.5B |
| Financing Cash Flow | 1.5B | -57.1M | 870.0M | 154.0M | 286.0M |
| Net Change In Cash | 1.2B | -368.0M | 436.0M | -67.1M | -3.9M |
| Ending Cash Balance | 1.4B | 110.0M | 478.0M | 42.0M | 109.0M |
| Capex | 125.0M | 176.0M | 161.0M | 146.0M | 124.0M |