Profitability WeaknessSustained negative net profit, EBIT and EBITDA margins indicate core operations are loss-making, eroding retained earnings and limiting reinvestment. Without structural operational improvement, this will increase reliance on reserves or financing and strain viability over coming months.
Declining RevenueA steep revenue decline reduces scale and operating leverage in a development business that depends on project throughput. Continued top-line contraction diminishes cash inflows, pressures margins and makes it harder to cover fixed costs, hurting liquidity over a 2-6 month horizon.
Asset And Equity ErosionFalling shareholders' equity and total assets point to asset write-downs or disposals and weaker collateral. This structural deterioration impairs borrowing capacity, increases funding costs and constrains project finance and growth, raising medium-term execution risk.