Improved Operating Cash FlowOperating cash flow turned strongly positive in 2025 (~158m), indicating better cash collection or working-capital management. That improvement strengthens near-term liquidity, supports interest and operating needs, and provides a more stable base for deleveraging or reinvestment over coming quarters.
Large Asset Base Provides FlexibilityThe company retains a still-large asset base that can serve as collateral or be monetized if required. For a diversified real-estate business, scale of assets supports financing options, restructuring flexibility and potential redevelopment, offering downside protection across cycles.
Proven Ability To Be Profitable In CyclesHistorical profits in 2020–2021 and a return to positive earnings in 2023 show the business can generate earnings under favorable conditions. This indicates operational levers and revenue mix that can restore profitability when market or execution conditions improve, supporting medium-term recovery potential.