AP Oil International (5AU) H1 2025 earnings summary

Executive summary

• H1 2025 revenue fell 1% YoY to S$27.222m; profit after tax declined 2% to S$818k, while operating cash flow remained broadly stable at S$1.884m.

• Total comprehensive income turned to a S$1.576m loss, mainly reflecting S$2.206m of currency translation losses as the US dollar weakened against the Singapore dollar.

Financial highlights

• Gross profit decreased 6% to S$4.574m from S$4.849m; profit before tax was S$948k versus S$977k, and profit after tax was S$818k versus S$832k.

• Other gains rose to S$471k from S$223k, including S$252k in foreign exchange gains and S$44k received under the 2019 agreement; interest income fell to S$349k from S$418k.

• Net cash from operating activities was S$1.884m, versus S$1.807m; cash and cash equivalents reached S$26.743m at 30 June 2025, up from S$26.205m at year-end 2024.

Outlook and guidance

• Near-to-medium-term outlook is cautiously optimistic; strategies will be adjusted to volatile conditions, with readiness to pursue opportunities arising from current challenges.

• No interim dividend was recommended pending full-year results.