Revenue DeclineA ~23% year‑on‑year revenue decline signals weakening top-line trends that can persistently pressure scale economics. Lower revenue reduces coverage for fixed costs and capex, making it harder to sustain returns and finance new projects without external funding.
Volatile Free Cash FlowMaterial FCF volatility and intermittent negative cash flows indicate uneven conversion of earnings into spendable cash. For a capital‑intensive renewables operator, this can constrain capex, increase reliance on external financing, and raise funding cost over time.
Declining Return On EquityA falling ROE suggests the company is generating lower returns from shareholder capital, which may reflect weaker asset utilization, higher depreciation or margin pressure. Sustained ROE decline can limit shareholder value creation and signal need for strategy or efficiency fixes.