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NSL (N02) investor relations material

NSL H1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2025 earnings summary18 Aug, 2025

Executive summary

  • Group turnover rose 56% year-over-year to S$465.9 million for the 18-month period ended 30 June 2025, driven by strong Precast division performance.

  • Adjusted profit before tax increased to S$51.1 million from S$20.1 million, mainly due to higher Precast division contributions.

  • Net profit attributable to equity holders was S$37.2 million, reversing a loss of S$18.7 million in the prior period.

  • Significant non-cash impairment losses of S$8.0 million on goodwill were recognized for the PBU division in Finland.

  • Gain on divestment of Tropical Resorts Limited and Donvale Limited contributed positively.

Financial highlights

  • Revenue for the 6-month period ended 30 June 2025 was S$163.1 million, up 33% year-over-year.

  • Gross profit margin improved to 22% for the 18-month period, up from 18% previously.

  • Basic and diluted EPS for the 18-month period was 9.96 cents, compared to a loss of 5.01 cents previously.

  • Net asset value per share increased to S$0.79 from S$0.73.

  • Operating cash flow for the 18-month period was S$67.0 million, up from S$38.3 million.

Outlook and guidance

  • Precast business expected to remain satisfactory, supported by order books in Singapore, Malaysia, and Dubai.

  • U.S. tariffs anticipated to have no material impact due to lack of exposure.

  • PBU business in Finland continues to face challenging housing market conditions.

  • Environmental Services division focusing on ramping up capacity utilization.

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Frequently asked questions

NSL Ltd is a diversified industrial company engaged in manufacturing and engineering solutions. Its business segments include the production of precast and prefabricated concrete products, environmental services such as waste management and treatment, and the manufacture of specialty chemicals. The company serves a variety of industries, including construction, infrastructure, and environmental management. The company is headquartered in Singapore, and its shares are listed on the SGX.

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