Declining Revenue TrendA persistent revenue decline reduces operating leverage and makes fixed-cost absorption harder, pressuring margins and returns. Without clear and durable revenue stabilization or growth, investments in marketing, logistics, and platform development may fail to generate acceptable payback.
Ongoing UnprofitabilitySustained negative EBIT and net losses erode equity and limit internally funded growth. Continued unprofitability increases dependence on external capital, constrains strategic flexibility, and raises execution risk for initiatives intended to reverse the loss trend.
Elevated Leverage And Weakening Equity RatioMaterial leverage and a declining equity ratio heighten financial risk, increasing interest burden and reducing shock absorbers in downturns. Even with some net debt improvement, higher liabilities limit capacity to invest, pursue M&A, or absorb slower revenue recovery without raising new capital.