Negative Free Cash Flow GrowthPersistently negative free cash flow curtails the company's ability to reinvest in turbines, pay down debt, or return capital. Over months this forces reliance on external financing, increasing cost of capital and execution risk for maintenance and growth projects in a capital-intensive generation business.
Weak Cash ConversionEarnings that do not convert into operating cash reduce financial resilience: suppliers, lenders and counterparties may demand stricter terms. For a utility, poor cash conversion undermines sustainable operations and increases risk of delayed maintenance or curtailed capital deployment over the medium term.
Declining ProfitabilityFalling EBIT and net margins indicate structural pressure—higher operating costs, lower tariff realization, or inefficiencies. Reduced profitability limits free cash flow recovery potential and constrains funding for expansion or resilience against wind availability variability over the next several quarters.