Improving Profit MarginsThe company restored positive and healthier margins in 2025 (net ~6.6%, EBITDA ~6.3%, gross ~34%), reflecting better pricing, cost control and product mix. Stronger margins enhance earnings resilience versus sales weakness and sustain internal funding for operations and investment.
Deleveraging And Stronger Balance SheetLeverage falling to ~0.62x after earlier elevated levels reduces interest burden and default risk, increasing financial flexibility. Lower leverage supports consistent capex, R&D and the ability to absorb cyclical shocks over the medium term, improving strategic optionality.
Positive And Improving Cash GenerationReturn to positive operating and free cash flow with FCF covering a large share of net income strengthens internal funding for growth and deleveraging. Sustained cash generation underpins capital allocation and reduces dependence on external financing if the trend continues.