Sustained Net LossesThree consecutive years of material net losses signal structural earnings weakness that undermines long-term profitability. Persistent losses erode investor confidence, limit retained earnings for reinvestment, and raise the risk of further balance-sheet impairment absent sustained recovery.
Recent Revenue WeaknessA declining top line reduces operating leverage and stresses margins already thin at the operating level. Continued revenue softness can compress cash conversion over time, constrain project pipelines and make it harder to restore profitability without structural demand or margin improvement.
Equity Erosion And Very Negative ROESharp equity erosion and deeply negative ROE reflect capital base deterioration, reducing financial buffers. This weakens borrowing capacity, increases dilution risk if capital is needed, and limits ability to pursue larger projects or withstand prolonged market downturns.