Material Deleveraging In 2025Deleveraging from extreme stress to debt-to-equity ~0.9 materially reduces near-term refinancing pressure and strengthens liquidity headroom. That shift provides management flexibility to prioritize core projects, lower interest costs and rebuild equity, improving resilience over the medium term.
Positive Operating And Free Cash Flow (2023–2025)Consistent positive operating and free cash flow across 2023–2025, including FCF ~351.6M in 2025, shows the group can generate internal funding despite earnings swings. Durable cash generation supports debt reduction, working capital and project funding without constant external financing, improving stability.
Positive Net Income Reported In 2025Reported positive net income in 2025 (≈7% net margin) marks a turnaround from multi-year losses and can help restore retained earnings and capital buffers. Although partly driven by non-operating items, positive bottom-line creates a base for sustainable recovery if operating margins improve and are maintained.