ASL Marine Holdings (A04) H1 2026 earnings summary

Executive summary

• 1H FY2026 net profit of $17.1m exceeded FY2025 full-year net profit of $14.7m, versus $2.1m in 1H FY2025.

• Higher gross profit and contributions from Ship Repairs and Ship Chartering, alongside sharply lower finance costs, supported results.

• An interim dividend of 0.13 Singapore cents per share was declared.

Financial highlights

• Revenue rose 5.5% YoY to $181.6m; gross profit increased 24.4% to $35.1m and gross margin rose to 19.3% from 16.4%.

• Net profit was $17.1m versus $2.1m; reported profit before tax was $19.6m, up 268.5% YoY.

• Adjusted EBITDA rose 12.2% to $44.3m; basic and diluted EPS was 1.66 cents versus 0.15 cents.

• Operating cash flow was $31.7m; investing cash inflow was $18.4m versus $6.1m.

• Cash and cash equivalents were $48.0m at 31 Dec 2025, versus $22.8m at 30 Jun 2025; total assets were $475.4m and net assets $132.4m.

Outlook and guidance

• Shipbuilding order book was ~$49m and long-term shipchartering contract order book ~$107m at 31 Dec 2025.

• Priorities include selective, shorter-cycle shipbuilding orders, expanding shiprepair capacity and customer reach, and improving charter fleet utilization and cost discipline.

• A third Singapore floating dock is planned at an estimated $25–30m, to increase capacity by 50% and support higher-margin tanker repairs.

• Fleet optimization, including selective disposals and renewal, aims to align capacity with customer needs and regulation; environmental sustainability is a growth area.