Rising Debt LevelsAn increasing absolute debt load raises interest and refinancing risk over the medium term. If growth or cash generation softens, higher leverage could constrain spending on distribution and premiumization and reduce financial flexibility, amplifying vulnerability to cyclical downturns.
High Depreciation & AmortizationLarge depreciation/amortisation implies capital intensity and heavy past or ongoing capex. Non-cash charges are reducing reported earnings and signal continued maintenance or growth capex needs, which can pressure free cash flow sustainability if investment cycles persist.
EPS ContractionMaterial negative EPS growth despite revenue gains suggests margin, interest, depreciation, or one-off pressures that reduce shareholder earnings. If persistent, this undermines return on equity and limits ability to reward shareholders or self-fund expansions over the coming quarters.