Revenue DeclineA near-41% revenue drop reflects weakened core demand or project throughput and reduces scale benefits. Sustained revenue contraction undermines fixed-cost coverage, limits reinvestment in assets and development, and heightens reliance on successful project delivery to restore growth.
Negative Profitability And MarginsDeeply negative gross, EBIT and net margins indicate structural cost or pricing issues across operations and projects. Persistently negative margins erode equity, reduce internal funding for growth, and signal the business must improve operating efficiency or secure higher-margin contracts to achieve sustainable profits.
High Leverage And Weak Balance SheetVery high leverage and a severely negative ROE constrain financial flexibility, increase refinancing risk, and limit capacity to fund new projects. A weak equity base elevates vulnerability to cash-flow shocks and can force dilutive capital raises or asset sales to stabilize the balance sheet.