Negative ProfitabilityPersistently negative EBIT and net margins signal structural operating inefficiencies or pricing pressure. Over the medium term this erodes retained earnings, limits reinvestment capacity and undermines the ability to generate sustainable shareholder returns without meaningful operational improvement or cost restructuring.
Collapsed Free Cash FlowA ~71% fall in free cash flow growth materially weakens the company's internal funding ability. Reduced cash conversion constrains capex, debt servicing and dividend capacity, increasing reliance on external financing and raising refinancing and liquidity risk over the next several months absent a cash-flow recovery.
High Leverage RemainsDespite slight improvement, elevated leverage leaves the company exposed to interest-rate rises and demand volatility. High debt levels restrict strategic flexibility, increase default risk under earnings pressure, and make financing more costly, which can hamper long-term investment and growth plans.