Declining Operating Cash FlowWeakened operating and free cash flow constrain the company’s ability to self-fund working capital and capex, increasing reliance on internal liquidity or external financing. Over months this can limit growth initiatives and increase sensitivity to unexpected procurement or seasonality shocks.
Commodity And Procurement ExposureThe business depends on volatile seafood prices and steady supplier procurement. Structural exposure to input-price swings and upstream supply disruptions can compress margins and require active procurement and hedging management to preserve long-term profitability.
Slight Equity-ratio DeteriorationA declining equity ratio, even from a strong base, hints at rising liabilities or slower asset growth. If the trend continues it could erode financial cushions and limit flexibility to absorb shocks, particularly given the simultaneous decline in cash generation.