Sharp Revenue DeclineA near 29% revenue drop reflects material weakening in sales or project deliveries. Sustained top-line contraction reduces economies of scale, limits reinvestment into new projects, weakens negotiating leverage with contractors and buyers, and can impair recovery prospects over several quarters.
Negative Operating ProfitabilityNet, EBIT and EBITDA margins turning negative indicate core operational or pricing issues rather than temporary timing. Persistent negative margins erode equity, limit retained earnings for project funding, and suggest structural cost or portfolio mix problems that will pressure profitability until addressed.
Negative Operating & Free Cash FlowOngoing negative operating and free cash flows show the business is not generating sufficient internal cash to fund working capital or development. Over months this forces reliance on external financing, raises refinancing and liquidity risks, and constrains the firm's ability to bid for or execute new projects.