Sharp Gross Margin CompressionA near halving of gross margin reflects rising production or input costs and squeezes operating leverage. If persistent, margin deterioration undermines sustainable profitability, limits reinvestment, and raises sensitivity to price volatility across business cycles.
Cash-flow Data Gaps And Weaker FCF TrendsMissing 2024 cash flow data and a declining FCF trend reduce visibility into liquidity generation and capital return capacity. This raises durable concerns about funding for capex, dividends, and JV investments, increasing reliance on balance sheet flexibility or external financing.
Operational Volatility And Asset DeclinesPrior negative EBIT and shrinking total assets point to operational inconsistency or asset impairment risk. Such volatility can impede steady cash generation, complicate planning, and indicate exposure to one-off charges or weaker asset performance over the medium term.