Chasen Holdings (5NV) H1 2025 earnings summary

Executive summary

• 1HFY2025 continuing revenue rose 24% to S$54.017m; continuing PBT was S$26.815m versus a S$0.425m loss, with after-tax profit of S$26.592m.

• Results included a S$37.162m CZ Group disposal gain, partly offset by S$10.495m goodwill impairment.

• Excluding the disposal gain, impairment and discontinued operations, continuing PBT was S$0.1m versus a S$0.4m loss YoY.

Financial highlights

• Continuing revenue rose 24% YoY to S$54.017m; gross profit increased 36% to S$11.376m.

• Total profit after tax was S$26.736m versus S$0.816m; continuing operations contributed S$26.592m and discontinued operations S$0.144m.

• Other operating income was S$37.909m, mainly from the CZ Group disposal gain; S$11.498m in other operating expenses included goodwill impairment and higher doubtful-debt allowance.

Outlook and guidance

• Specialist Relocation growth is supported by a multi-million-dollar contract to relocate a lithium-ion EV battery manufacturing facility in Kansas.

• Technical & Engineering performance is expected to improve after divestment of the PRC components and parts manufacturing unit, despite intensifying competition.

• Third Party Logistics may face lower customer demand amid supply-chain challenges; management plans to remain agile and pursue opportunities amid uncertainty.