ASBISc Enterprises (ASB) Q4 2025 earnings summary

Executive summary

• Achieved record revenues and profitability in Q4 and FY 2025, with Q4 revenue up 35% year-over-year and FY revenue up 28%, driven by robust demand for Apple products, data center components, and AI-related projects.

• Net profit after tax for Q4 2025 reached $29.2m, up 19% year-over-year; FY 2025 NPAT exceeded $60m, up 11%.

• Expanded operations geographically, including new distribution centers and market entries in Africa, the Middle East, and the USA.

• Premium and luxury retail business unit grew, with new Apple and Bang & Olufsen flagship stores and global expansion to 58 stores.

• Kazakhstan and Ukraine delivered strong sales growth despite challenging environments, with Kazakhstan up 27% and Ukraine up 32.3% year-over-year in Q4.

Financial highlights

• Q4 2025 revenue: $1,247.8m (up 35% YoY); FY 2025 revenue: $3,863.0m (up 28% YoY); Q4 net profit: $29.2m; FY net profit: $60.2m.

• Gross profit margin in Q4 2025 was 7.88% (down from 8.02% YoY); FY 2025 gross margin was 7.22%.

• Cash and cash equivalents at year-end rose to $257.6m, up 66% year-over-year.

• Net cash from operating activities in 12M 2025: $154.8m (up from $26.7m YoY).

• EBITDA for Q4 2025: $50.7m (up from $37.7m YoY); for 12M 2025: $120.8m (up from $102.9m YoY).

Outlook and guidance

• Management expects continued double-digit growth in Apple sales and data center/AI infrastructure for 2026, targeting $2.2 billion in Apple sales.

• Plans to expand further in Africa, CIS, Western and Southern Europe, and the USA.

• Focus on developing the Breezy trade-in business, expanding premium retail, and optimizing SG&A costs.

• No fixed guidance for 2026 due to market volatility; forecasts will be provided when conditions stabilize.