Penguin International (BTM) investor relations material

Executive summary

• H1 2026 revenue rose 12.6% YoY to S$137.4m and net profit rose 30.1% to S$9.1m, led by more than doubled vessel chartering revenue.

• Higher chartering contribution and healthy demand across core markets partly offset lower shipbuilding revenue from project timing and fewer stock vessel sales.

Financial highlights

• Gross profit increased 19.0% to S$47.2m; profit before tax rose 38.0% to S$13.8m.

• Basic and diluted EPS were both 4.14 cents, versus 3.19 cents in H1 2025.

• Other income fell 80.1% to S$1.1m, as the prior-year period included proceeds from sales of two crewboats and a launch boat.

• Administrative expenses included S$2.6m of Penguin Share Plan expense; a S$1.2m expected credit loss provision arose from vessel chartering activities.

Outlook and guidance

• Demand remains healthy across offshore oil and gas/maritime security, government, offshore wind and tourism markets.

• Over the next 12 months, plans include further fleet expansion, phased Batam shipyard development, and investment in capability, productivity and automation.

• Demand for modern crewboats and security vessels is expected to remain firm; offshore wind activity shows signs of recovery, while ferry demand benefits from fleet renewal and tourism.