Rising Debt LevelsAlthough leverage is currently moderate, the trend of rising debt can erode flexibility if continued. Over months this could increase interest expense, limit ability to fund capex from internal sources, and reduce resilience to a downturn in industrial or FMCG demand.
Negative Free Cash Flow GrowthPersistent negative FCF growth driven by high capital expenditures strains liquidity and raises funding needs. Over a multi-month horizon this can force external borrowing, constrain dividends or tooling investments, and increase vulnerability to higher working-capital or raw-material cost cycles.
Declining Net Income Despite Sales GrowthRevenue gains paired with falling net income suggest margin pressure from costs or one-off items. If structural (input costs, pricing pressure) this can persist, limiting return on equity and reducing cash available for reinvestment or debt reduction over the medium term.