Volatile Net Debt/Cash ManagementIntermittent swings in net debt suggest cash management is not yet steady, which can constrain long‑term strategic flexibility. Persistent volatility raises refinancing and liquidity risks, potentially limiting investment in sales, technology, or margin improvement initiatives.
Operating Expense PressureRoom to improve EBIT margins signals that operating cost structure or SG&A scale‑up has not fully optimized. Over the medium term, inability to tighten operating expenses could compress profitability if revenue growth slows or competitive pricing pressure intensifies.
Variable Investing & Financing ActivityIrregular investing and financing flows point to episodic capital projects or debt adjustments. This variability can make free cash flow less predictable, complicate long‑range planning, and increase reliance on external financing during strategic moves.