Revenue AccelerationA 15.5% top-line re-acceleration in 2025 indicates recovering demand and sales momentum. Durable revenue growth gives management runway to rebuild scale, absorb fixed costs and invest in efficiency initiatives; sustaining this trend is key to restoring margins over several quarters.
Equity Provides Capital BufferA sizeable equity base (~320m) offers a structural cushion against losses and higher leverage. This reduces near-term insolvency risk, supports working-capital needs, and gives time to implement operational fixes or refinance debt without immediate equity dilution, preserving optionality over months.
Core Cash Generation (operating Cash Flow)Positive operating cash flow across recent years, including ~69m in 2025, shows the core business can convert sales to cash. That recurring cash generation supports day-to-day operations, funds near-term capex or working-capital needs, and is a durable foundation for recovery if margins and investment are managed.