Proven Profitability In Steadier YearsHistorical profitability across 2020–2024 shows the core business can generate positive margins under steadier conditions. This indicates the business model and project economics can work when execution and demand normalize, supporting a potential durable recovery if operational issues are addressed.
Ability To Generate Free Cash FlowA strong free cash flow rebound in 2024 demonstrates the company can convert earnings into cash when operations stabilize. That capability is a durable strength: it improves funding flexibility, supports working capital needs and reduces reliance on external financing during sustained improvement.
Sizable Asset BaseA sizable asset base, even with negative equity, provides tangible recovery options: collateral for lenders, sale or revaluation opportunities, and room for restructuring. This structural buffer can improve creditor negotiation positions and extend runway during a multi-month turnaround.