Negative Equity / LeverageNegative equity indicates liabilities exceed assets, creating structural solvency risk. This condition constrains access to debt and equity financing, raises refinancing and covenant pressures, and limits capital investment flexibility over the medium term.
Zero Operating And Free Cash FlowReported zero operating and free cash flow signals the company is not generating internal cash to fund operations or capex. Persistent lack of cash generation forces reliance on external financing, weakens liquidity buffers, and undermines ability to sustain investments.
Underlying Margin WeaknessNegative EBIT/EBITDA margins show core operations are loss-making and unable to cover operating costs. The reported net margin benefit from a one-off item masks structural unprofitability; absent sustainable margin recovery, earnings remain fragile and business economics are impaired.