BH Global (BQN) H2 2024 earnings summary

Executive summary

• FY2024 revenue rose 2% to S$60,385k, while net profit attributable to shareholders fell to S$2,686k from S$3,456k, mainly on higher operating expenses.

• Strategy remained focused on operational efficiency, digitalisation, maritime electrification and sustainable growth; FY2025 plans include monitoring market dynamics and adapting business priorities.

Financial highlights

• Gross profit increased to S$24,548k from S$24,402k; other operating income rose S$0.4m, mainly on higher foreign-exchange gains.

• Selling and distribution expenses increased 12% to S$14,546k, including higher R&D costs (+S$640k) and advertising and promotion (+S$312k); administrative expenses were broadly unchanged.

• Profit from operations was S$1,937k vs S$2,885k; profit before tax was S$2,517k vs S$3,615k, and total profit was S$2,059k vs S$2,668k.

• Net cash from operating activities was S$761k vs S$5,336k; net cash used in investing activities was S$1,666k, and cash and cash equivalents ended at S$5,301k.

Outlook and guidance

• FY2025 priorities include sustainable long-term growth, operational excellence, innovation and continued assessment of growth opportunities amid regulatory, technology and customer-demand changes.

• Sea Forrest’s potential spin-off listing remains conditional on due diligence, regulatory approvals, confidential filing review and market conditions; completion is not assured.