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 | FY 2020Dec 31, 2020 | FY 2019Dec 31, 2019 | FY 2018Dec 31, 2018 | FY 2017Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 678.0M | 939.0M | 1.1B | 1.3B | 1.2B | 1.1B | 1.0B | 904.0M | 680.0M |
| Revenue Growth % | -27.8% | -14.1% | -14.6% | 7.5% | 9.4% | 4.0% | 15.8% | 32.9% | -- |
| Total Revenue | 678.0M | 939.0M | 1.1B | 1.3B | 1.2B | 1.1B | 1.0B | 904.0M | 680.0M |
| Cost Of Revenue | 578.0M | 755.0M | 866.0M | 1.0B | 941.0M | 864.0M | 816.0M | 706.0M | 517.0M |
| Gross Profit | 100.0M | 184.0M | 227.0M | 258.0M | 250.0M | 225.0M | 231.0M | 198.0M | 163.0M |
| Gross Margin % | 14.7% | 19.6% | 20.8% | 20.2% | 21.0% | 20.7% | 22.1% | 21.9% | 24.0% |
| Total Operating Cost | 721.0M | 907.0M | 1.0B | 1.2B | 1.1B | 994.0M | 966.0M | 828.0M | 619.0M |
| Selling Expenses | 60.1M | 75.9M | 83.4M | 74.8M | 60.9M | 49.4M | 54.7M | 51.5M | 48.5M |
| Admin Expenses | 61.4M | 72.7M | 76.4M | 73.6M | 79.7M | 63.2M | 66.8M | 57.8M | 49.2M |
| Rd Expenses | 3.8M | 3.8M | 3.2M | 2.8M | -- | -- | -- | -- | -- |
| Finance Expenses | -1.7M | -1.6M | -3.3M | -5.5M | 551,400 | -1.9M | 1.6M | 2.6M | -2.0M |
| Operating Income | -39.2M | 39.6M | 66.6M | 115.0M | 110.0M | 104.0M | 92.7M | 95.8M | 63.4M |
| Operating Margin % | -5.8% | 4.2% | 6.1% | 9.0% | 9.2% | 9.6% | 8.9% | 10.6% | 9.3% |
| Non Operating Income | 5,900 | 619,300 | 39,600 | 1.1M | 4.9M | 696,700 | 259,500 | 61,600 | 2.1M |
| Non Operating Expenses | 921,700 | 716,300 | 920,900 | 2.2M | 5.3M | 6.1M | 447,200 | 3.2M | 724,700 |
| Investment Income | -214,900 | -1.2M | -1.4M | 638,900 | -- | 1.5M | 1.7M | 977,600 | 2.1M |
| Fair Value Change Income | -- | -- | -- | -- | -- | -- | 306,200 | -- | -- |
| Asset Disposal Income | 49,200 | 438,900 | 95,500 | 202,500 | 1,400 | 42,100 | 119,200 | 1.4M | 466,500 |
| Asset Impairment Loss | 4.5M | 8.1M | 3.1M | 1.2M | 1.1M | 405,100 | 1.7M | 6.7M | 2.9M |
| Other Income | 4.2M | 7.9M | 8.7M | 9.9M | 6.9M | 7.1M | 9.6M | 16.9M | 260,600 |
| Income Before Tax | -40.1M | 39.5M | 65.7M | 114.0M | 110.0M | 98.6M | 92.6M | 92.7M | 64.8M |
| Income Tax | -6.4M | 11.0M | 18.5M | 31.1M | 29.4M | 26.0M | 25.4M | 25.8M | 17.9M |
| Net Income | -33.7M | 28.5M | 47.2M | 82.7M | 80.2M | 72.6M | 67.1M | 66.9M | 46.8M |
| Net Margin % | -5.0% | 3.0% | 4.3% | 6.5% | 6.7% | 6.7% | 6.4% | 7.4% | 6.9% |
| Net Income Attributable | -33.6M | 27.6M | 47.2M | 82.7M | 80.2M | 72.6M | 67.1M | 66.9M | 46.8M |
| Minority Interest | -44,800 | 903,200 | -25,300 | -2,600 | -65,900 | -- | -- | -- | -- |
| Eps Basic | -0.08 | 0.07 | 0.12 | 0.22 | 0.27 | 0.24 | 0.26 | -- | -- |
| Eps Diluted | -0.08 | 0.07 | 0.12 | 0.22 | 0.27 | 0.24 | 0.26 | -- | -- |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 | FY 2020Dec 31, 2020 | FY 2019Dec 31, 2019 | FY 2018Dec 31, 2018 | FY 2017Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash And Equivalents | 106.0M | 261.0M | 198.0M | 327.0M | 147.0M | 247.0M | 56.2M | 50.0M | 29.9M |
| Trading Financial Assets | -- | -- | -- | 10.0M | -- | -- | 223.0M | -- | -- |
| Accounts Receivable | 690.0M | 738.0M | 740.0M | 747.0M | 546.0M | 505.0M | 504.0M | 356.0M | 300.0M |
| Notes Receivable | -- | -- | -- | -- | -- | 30.2M | 28.3M | 23.7M | 26.5M |
| Notes And Accounts Receivable | 690.0M | 738.0M | 740.0M | 747.0M | 546.0M | 535.0M | 533.0M | 379.0M | 327.0M |
| Prepayments | 65.6M | 69.9M | 82.9M | 110.0M | 70.0M | 22.1M | 60.5M | 71.0M | 16.5M |
| Inventory | 173.0M | 202.0M | 197.0M | 205.0M | 179.0M | 140.0M | 106.0M | 91.7M | 20.7M |
| Total Current Assets | 1.1B | 1.3B | 1.3B | 1.4B | 970.0M | 967.0M | 985.0M | 660.0M | 423.0M |
| Fixed Assets | 113.0M | 117.0M | 113.0M | 73.5M | 77.4M | 80.1M | 91.1M | 89.8M | -- |
| Fixed Assets Total | 113.0M | 117.0M | 113.0M | 73.5M | 77.4M | 80.1M | 91.1M | 89.8M | 108.0M |
| Construction In Progress | 39.5M | -- | -- | -- | -- | -- | -- | -- | -- |
| Construction In Progress Total | 39.5M | -- | -- | -- | -- | -- | -- | -- | -- |
| Intangible Assets | 7.0M | 7.5M | 7.9M | 1.8M | 942,100 | 1.1M | 1.7M | 1.5M | 1.9M |
| Long Term Deferred Expenses | 18.7M | 21.9M | 17.8M | 13.8M | 12.4M | 5.7M | 6.1M | 6.4M | 1.8M |
| Total Non Current Assets | 304.0M | 203.0M | 207.0M | 148.0M | 151.0M | 133.0M | 145.0M | 129.0M | 143.0M |
| Total Assets | 1.4B | 1.5B | 1.5B | 1.6B | 1.1B | 1.1B | 1.1B | 789.0M | 566.0M |
| Short Term Borrowings | 57.1M | 46.3M | 53.9M | 51.3M | 97.6M | 91.4M | 73.9M | 98.1M | 10.0M |
| Accounts Payable | 157.0M | 154.0M | 168.0M | 180.0M | 128.0M | 128.0M | 125.0M | 73.9M | 63.2M |
| Advance Receipts | -- | -- | -- | -- | -- | -- | 4.2M | 5.3M | 8.5M |
| Contract Liabilities | 487,700 | 1.6M | 1.1M | 2.0M | 9.1M | 4.9M | -- | -- | -- |
| Total Current Liabilities | 367.0M | 319.0M | 286.0M | 362.0M | 302.0M | 370.0M | 330.0M | 400.0M | 159.0M |
| Long Term Borrowings | 1.9M | -- | 2.2M | 10.8M | 12.0M | 7.3M | 10.5M | 13.7M | -- |
| Total Non Current Liabilities | 2.0M | 737,900 | 6.8M | 18.9M | 23.2M | 12.1M | 10.5M | 13.7M | -- |
| Total Liabilities | 369.0M | 319.0M | 292.0M | 380.0M | 325.0M | 382.0M | 341.0M | 414.0M | 159.0M |
| Paid In Capital | 398.0M | 398.0M | 398.0M | 398.0M | 299.0M | 299.0M | 299.0M | 212.0M | 138.0M |
| Capital Reserve | 597.0M | 597.0M | 597.0M | 597.0M | 336.0M | 336.0M | 416.0M | 83.6M | 50.2M |
| Surplus Reserve | 41.4M | 41.4M | 36.0M | 32.0M | 23.4M | 13.9M | 7.8M | 22.1M | 15.9M |
| Retained Earnings | 43.9M | 129.0M | 131.0M | 148.0M | 145.0M | 74.4M | 67.7M | 57.7M | 204.0M |
| Minority Equity | 1.7M | 3.2M | 2.1M | 831,500 | -65,900 | -- | -- | -- | -- |
| Equity Attributable | 1.1B | 1.2B | 1.2B | 1.2B | 796.0M | 717.0M | 789.0M | 375.0M | 408.0M |
| Total Equity | 1.1B | 1.2B | 1.2B | 1.2B | 796.0M | 717.0M | 789.0M | 375.0M | 408.0M |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 | FY 2020Dec 31, 2020 | FY 2019Dec 31, 2019 | FY 2018Dec 31, 2018 | FY 2017Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash From Sales | 776.0M | 1.1B | 1.2B | 1.3B | 1.3B | 1.1B | 1.0B | 986.0M | 784.0M |
| Tax Refunds Received | -- | -- | -- | 1.2M | -- | -- | -- | -- | -- |
| Total Operating Cash Inflow | 788.0M | 1.1B | 1.3B | 1.3B | 1.3B | 1.1B | 1.0B | 1.1B | 788.0M |
| Cash Paid For Goods | 627.0M | 767.0M | 1.0B | 1.1B | 1.1B | 907.0M | 881.0M | 904.0M | 637.0M |
| Cash Paid To Employees | 89.9M | 108.0M | 114.0M | 105.0M | 88.7M | 72.2M | 78.1M | 69.9M | 59.7M |
| Taxes Paid | 17.0M | 37.1M | 55.7M | 63.6M | 66.2M | 56.8M | 72.4M | 79.8M | 41.0M |
| Total Operating Cash Outflow | 771.0M | 958.0M | 1.3B | 1.3B | 1.3B | 1.1B | 1.1B | 1.2B | 764.0M |
| Operating Cash Flow | 17.7M | 133.0M | 11.3M | -30.4M | 7.0M | 74.2M | -37.9M | -76.7M | 24.6M |
| Total Investing Cash Inflow | 160.0M | 2.9M | 16.3M | 40.0M | 4.7M | 987.0M | 1.5B | 1.3B | 568.0M |
| Total Investing Cash Outflow | 301.0M | 31.8M | 68.0M | 65.9M | 22.1M | 846.0M | 1.7B | 1.3B | 571.0M |
| Investing Cash Flow | -141.0M | -28.9M | -51.6M | -25.9M | -17.4M | 141.0M | -178.0M | -51.8M | -3.1M |
| Cash From Borrowings | 127.0M | 530.0M | 715.0M | 310.0M | 429.0M | 255.0M | 332.0M | 305.0M | 115.0M |
| Dividends And Interest Paid | 52.9M | 26.9M | 65.3M | 74.5M | 79.7M | 46.2M | 41.1M | 13.7M | 1.1M |
| Debt Repayments | 115.0M | 546.0M | 722.0M | 362.0M | 427.0M | 223.0M | 360.0M | 200.0M | 125.0M |
| Total Financing Cash Inflow | 136.0M | 530.0M | 717.0M | 691.0M | 429.0M | 263.0M | 641.0M | 436.0M | 117.0M |
| Total Financing Cash Outflow | 170.0M | 576.0M | 796.0M | 465.0M | 519.0M | 282.0M | 420.0M | 299.0M | 139.0M |
| Financing Cash Flow | -34.5M | -45.5M | -78.9M | 226.0M | -89.6M | -19.2M | 222.0M | 137.0M | -22.1M |
| Net Change In Cash | -159.0M | 58.6M | -120.0M | 171.0M | -102.0M | 194.0M | 5.8M | 8.7M | -456,600 |
| Ending Cash Balance | 86.4M | 245.0M | 187.0M | 306.0M | 136.0M | 238.0M | 44.4M | 38.6M | 29.9M |
| Capex | 14.2M | 31.8M | 68.0M | 25.9M | 22.1M | 8.1M | 27.8M | 16.4M | 33.6M |