Improving Cash GenerationStronger operating cash flow and a positive free cash flow trend improve liquidity and funding flexibility over the medium term. This boosts capacity to fund capex, service debt, and invest in product lines without relying excessively on external financing, supporting durability across cycles.
Diversified Business MixA multi-segment portfolio spanning metals, construction materials, advanced materials, and recycling reduces single-market dependence. Structural diversification smooths revenue cyclicality, leverages cross-segment customer relationships, and provides multiple cash engines across industrial and infrastructure demand cycles.
Moderate LeverageA roughly 0.9 debt-to-equity ratio and a ~28.5% equity ratio imply moderate leverage that balances growth financing with financial stability. This level of gearing provides headroom to fund strategic investments while keeping refinancing and interest burdens manageable over the medium term.