Gallant Venture (5IG) investor relations material

Executive summary

• H1 2026 revenue rose 17.9% YoY to S$118.5m, but results swung to a S$26.4m net loss as gross profit fell and other income turned to expense.

• Higher industrial park leasing, utilities demand, tourism activity and the coconut-products business supported revenue growth; higher energy costs and adverse FX weighed on earnings.

Financial highlights

• Revenue was S$118.5m vs S$100.5m; cost of sales increased to S$84.2m from S$59.2m and gross profit declined to S$34.2m from S$41.3m.

• Other expenses were S$7.5m vs S$38.5m of other income, mainly reflecting a S$9.0m FX loss vs a S$34.2m FX gain; finance costs fell to S$17.5m from S$21.3m.

• Net loss attributable to owners was S$24.7m vs net income of S$20.4m; basic and diluted loss per share were both 0.451 cents vs earnings per share of 0.373 and 0.356 cents.

• Operating cash inflow was S$55.7m vs S$73.5m; investing outflow was S$310.0m vs S$11.7m, while financing inflow was S$306.0m vs S$2.7m.

Outlook and guidance

• Industrial parks revenue is expected to build on completed and leased factory units; near-term focus is occupancy, yields and use of existing facilities, with limited new factory development expected.

• Tourist arrivals rose 10.4% YoY in H1; tourism offerings and new attractions aim to help exceed one million arrivals by year-end.

• New power plants are intended to support growth, strengthen energy security and reduce natural-gas reliance over time; the project is described as transformational.