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 | 2.4B | 3.8B | 4.2B | 4.5B | 5.0B | 4.3B | 4.3B | 4.0B | 2.7B |
| Revenue Growth % | -35.3% | -9.9% | -7.6% | -8.5% | 14.5% | 1.2% | 7.7% | 47.5% | -- |
| Total Revenue | 2.4B | 3.8B | 4.2B | 4.5B | 5.0B | 4.3B | 4.3B | 4.0B | 2.7B |
| Cost Of Revenue | 1.2B | 1.6B | 1.6B | 1.6B | 1.5B | 1.5B | 1.7B | 1.6B | 1.5B |
| Gross Profit | 1.2B | 2.2B | 2.6B | 2.9B | 3.4B | 2.9B | 2.6B | 2.4B | 1.2B |
| Gross Margin % | 50.2% | 57.8% | 62.7% | 64.6% | 69.3% | 66.0% | 60.9% | 60.2% | 43.0% |
| Total Operating Cost | 2.7B | 3.7B | 4.0B | 4.3B | 4.4B | 3.9B | 4.0B | 3.7B | 2.5B |
| Selling Expenses | 704.0M | 1.3B | 1.8B | 2.0B | 2.3B | 2.0B | 1.9B | 1.7B | 652.0M |
| Admin Expenses | 267.0M | 240.0M | 230.0M | 245.0M | 232.0M | 173.0M | 181.0M | 164.0M | 161.0M |
| Rd Expenses | 441.0M | 374.0M | 352.0M | 344.0M | 200.0M | 128.0M | 126.0M | 98.1M | 81.7M |
| Finance Expenses | 13.3M | 5.0M | -10.3M | -32.7M | -33.1M | 39.6M | 38.2M | 33.0M | 83.2M |
| Operating Income | -234.0M | 159.0M | 232.0M | 358.0M | 637.0M | 492.0M | 328.0M | 323.0M | 189.0M |
| Operating Margin % | -9.6% | 4.2% | 5.5% | 7.9% | 12.8% | 11.3% | 7.6% | 8.1% | 7.0% |
| Non Operating Income | 1.6M | 4.0M | 2.0M | 4.9M | 1.9M | 6.7M | 6.6M | 6.6M | 13.0M |
| Non Operating Expenses | 4.2M | 10.7M | 10.5M | 13.4M | 9.4M | 3.7M | 2.9M | 5.1M | 2.9M |
| Investment Income | 3.5M | 442,400 | -320,700 | 1.1M | 4.0M | -- | 106,800 | 309,200 | 5.5M |
| Fair Value Change Income | 6.0M | 2.3M | -686,900 | 2.9M | -- | -- | -- | -- | -- |
| Asset Disposal Income | 924,100 | -383,500 | 1.0M | 41,000 | 10,400 | -- | 1,600 | 40,100 | -359,400 |
| Asset Impairment Loss | 41.5M | 101.0M | 62.4M | 52.0M | 41.0M | 21.7M | 21.9M | 21.6M | -26.2M |
| Other Income | 29.1M | 33.5M | 44.4M | 81.2M | 44.7M | 51.5M | 19.3M | 16.1M | 12.3M |
| Income Before Tax | -237.0M | 152.0M | 223.0M | 350.0M | 629.0M | 495.0M | 332.0M | 325.0M | 199.0M |
| Income Tax | 37.8M | 31.1M | 35.8M | 10.6M | 85.5M | 51.5M | 44.0M | 56.0M | 38.2M |
| Net Income | -275.0M | 121.0M | 187.0M | 339.0M | 544.0M | 444.0M | 288.0M | 269.0M | 161.0M |
| Net Margin % | -11.2% | 3.2% | 4.5% | 7.5% | 11.0% | 10.2% | 6.7% | 6.8% | 6.0% |
| Net Income Attributable | -262.0M | 124.0M | 185.0M | 335.0M | 545.0M | 442.0M | 285.0M | 268.0M | 162.0M |
| Minority Interest | -12.4M | -2.5M | 2.7M | 3.7M | -1.6M | 1.5M | 2.3M | 949,800 | -686,900 |
| Eps Basic | -0.59 | 0.28 | 0.41 | 0.74 | 1.21 | 1.23 | 0.79 | -- | -- |
| Eps Diluted | -0.59 | 0.28 | 0.41 | 0.74 | 1.21 | 1.23 | 0.79 | -- | -- |
| 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 | 1.0B | 1.3B | 1.5B | 1.7B | 2.4B | 2.5B | 395.0M | 302.0M | 792.0M |
| Trading Financial Assets | 398.0M | 160.0M | -- | -- | -- | -- | -- | -- | -- |
| Accounts Receivable | 487.0M | 612.0M | 894.0M | 1.2B | 817.0M | 565.0M | 717.0M | 645.0M | 327.0M |
| Notes Receivable | 49.4M | 104.0M | 102.0M | 55.9M | 49.5M | 49.8M | 98.0M | 131.0M | 46.3M |
| Notes And Accounts Receivable | 536.0M | 716.0M | 996.0M | 1.3B | 866.0M | 614.0M | 815.0M | 776.0M | 373.0M |
| Prepayments | 39.1M | 52.7M | 73.0M | 59.7M | 29.7M | 14.7M | 15.2M | 19.7M | 15.3M |
| Inventory | 465.0M | 757.0M | 728.0M | 738.0M | 632.0M | 627.0M | 557.0M | 700.0M | 498.0M |
| Total Current Assets | 2.6B | 3.2B | 3.4B | 3.9B | 4.1B | 3.9B | 1.9B | 1.9B | 2.0B |
| Fixed Assets | -- | 1.4B | 1.5B | 1.2B | 1.2B | 1.2B | 1.2B | 1.2B | 1.1B |
| Fixed Assets Total | 1.3B | 1.4B | 1.5B | 1.2B | 1.2B | 1.2B | 1.2B | 1.2B | 1.1B |
| Construction In Progress | -- | 540.0M | 471.0M | 458.0M | 74.9M | 108.0M | 83.4M | 112.0M | 170.0M |
| Construction In Progress Total | 689.0M | 540.0M | 471.0M | 458.0M | 74.9M | 108.0M | 83.4M | 112.0M | 170.0M |
| Intangible Assets | 164.0M | 175.0M | 174.0M | 175.0M | 181.0M | 134.0M | 136.0M | 147.0M | 148.0M |
| Long Term Deferred Expenses | 4.3M | 8.2M | 10.1M | 822,400 | 1.7M | 4.3M | 4.5M | 6.4M | 6.3M |
| Total Non Current Assets | 2.6B | 2.6B | 2.5B | 2.1B | 1.7B | 1.6B | 1.6B | 1.6B | 1.5B |
| Total Assets | 5.2B | 5.7B | 5.9B | 6.0B | 5.7B | 5.5B | 3.5B | 3.4B | 3.5B |
| Short Term Borrowings | 55.2M | 113.0M | 352.0M | 228.0M | 9.0M | 160.0M | 437.0M | 300.0M | 536.0M |
| Accounts Payable | 474.0M | 431.0M | 506.0M | 497.0M | 512.0M | 524.0M | 591.0M | 764.0M | 842.0M |
| Advance Receipts | -- | -- | -- | -- | -- | 772,200 | 41.5M | 54.4M | 55.0M |
| Contract Liabilities | 21.8M | 44.5M | 29.7M | 57.1M | 29.7M | 62.8M | -- | -- | -- |
| Total Current Liabilities | 1.7B | 1.5B | 2.1B | 1.9B | 1.7B | 1.8B | 2.2B | 2.4B | 2.6B |
| Long Term Borrowings | 77.5M | 517.0M | 54.6M | -- | -- | -- | -- | -- | 110.0M |
| Total Non Current Liabilities | 212.0M | 648.0M | 177.0M | 112.0M | 117.0M | 91.9M | 141.0M | 160.0M | 238.0M |
| Total Liabilities | 1.9B | 2.2B | 2.3B | 2.0B | 1.8B | 1.9B | 2.3B | 2.6B | 2.8B |
| Paid In Capital | 450.0M | 450.0M | 450.0M | 450.0M | 450.0M | 450.0M | 360.0M | 142.0M | 142.0M |
| Capital Reserve | 2.6B | 2.6B | 2.6B | 2.7B | 2.6B | 2.6B | 718.0M | 853.0M | 991.0M |
| Surplus Reserve | 199.0M | 193.0M | 162.0M | 137.0M | 98.0M | 47.0M | 24.3M | 75.9M | 75.9M |
| Retained Earnings | 121.0M | 390.0M | 385.0M | 721.0M | 731.0M | 439.0M | 19.4M | -235.0M | -503.0M |
| Minority Equity | -5.0M | 7.3M | 9.8M | 8.1M | 3.4M | 5.0M | 3.5M | 7.2M | 6.3M |
| Equity Attributable | 3.3B | 3.6B | 3.6B | 4.0B | 3.9B | 3.6B | 1.1B | 836.0M | 706.0M |
| Total Equity | 3.3B | 3.6B | 3.6B | 4.0B | 3.9B | 3.6B | 1.1B | 843.0M | 712.0M |
| 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 | 2.8B | 4.3B | 4.7B | 4.5B | 5.1B | 4.9B | 4.3B | 3.8B | 2.6B |
| Tax Refunds Received | 34.9M | 25.8M | 34.9M | 25.5M | 4.6M | 15.6M | 6.2M | 5.4M | 2.9M |
| Total Operating Cash Inflow | 3.1B | 4.4B | 4.9B | 4.6B | 5.2B | 5.0B | 4.4B | 4.1B | 2.7B |
| Cash Paid For Goods | 786.0M | 1.2B | 1.4B | 1.6B | 1.4B | 1.5B | 1.3B | 1.7B | 1.4B |
| Cash Paid To Employees | 430.0M | 456.0M | 448.0M | 434.0M | 318.0M | 267.0M | 270.0M | 261.0M | 229.0M |
| Taxes Paid | 223.0M | 393.0M | 393.0M | 512.0M | 517.0M | 418.0M | 454.0M | 397.0M | 224.0M |
| Total Operating Cash Outflow | 2.7B | 3.9B | 4.1B | 4.7B | 4.7B | 4.3B | 4.1B | 3.9B | 2.5B |
| Operating Cash Flow | 340.0M | 438.0M | 785.0M | -121.0M | 515.0M | 698.0M | 325.0M | 193.0M | 215.0M |
| Total Investing Cash Inflow | 634.0M | 849,000 | 10.9M | 101.0M | 386.0M | -- | 139,700 | 309.0M | 1.4B |
| Total Investing Cash Outflow | 1.1B | 547.0M | 513.0M | 658.0M | 587.0M | 191.0M | 180.0M | 333.0M | 912.0M |
| Investing Cash Flow | -470.0M | -546.0M | -502.0M | -557.0M | -201.0M | -191.0M | -180.0M | -24.5M | 472.0M |
| Cash From Borrowings | 123.0M | 649.0M | 387.0M | 228.0M | 9.0M | 161.0M | 446.0M | 339.0M | 1.2B |
| Dividends And Interest Paid | 23.2M | 111.0M | 505.0M | 308.0M | 205.0M | 22.2M | 25.8M | 31.1M | 392.0M |
| Debt Repayments | 203.0M | 510.0M | 248.0M | 9.0M | 160.0M | 437.0M | 420.0M | 636.0M | 2.2B |
| Total Financing Cash Inflow | 123.0M | 649.0M | 387.0M | 228.0M | 9.0M | 2.2B | 530.0M | 438.0M | 2.5B |
| Total Financing Cash Outflow | 235.0M | 677.0M | 819.0M | 330.0M | 417.0M | 559.0M | 538.0M | 859.0M | 3.0B |
| Financing Cash Flow | -112.0M | -28.5M | -432.0M | -102.0M | -408.0M | 1.6B | -7.7M | -421.0M | -502.0M |
| Net Change In Cash | -241.0M | -136.0M | -145.0M | -773.0M | -94.8M | 2.1B | 138.0M | -252.0M | 185.0M |
| Ending Cash Balance | 997.0M | 1.2B | 1.4B | 1.5B | 2.3B | 2.4B | 245.0M | 107.0M | 359.0M |
| Capex | 135.0M | 359.0M | 497.0M | 548.0M | 200.0M | 127.0M | 148.0M | 174.0M | 105.0M |