Chasen Holdings (5NV) H2 2025 earnings summary

Executive summary

• FY2025 continuing-operations revenue rose 22% YoY to S$116.3m; gross profit increased 66% to S$21.2m.

• Net profit after tax was S$33.2m, reversing a S$6.6m prior-year loss, primarily due to the S$45.1m gain on disposal of discontinued operations.

Financial highlights

• FY2025 revenue was S$116.3m versus S$95.7m; 2H revenue was S$56.6m versus S$45.7m, up 24% YoY.

• FY2025 gross profit was S$21.2m versus S$12.8m; 2H gross profit was S$10.4m versus S$5.3m, up 95% YoY.

• Continuing-operations PBT before one-off adjustments was S$0.8m for FY2025 and S$0.1m for 2H, versus losses in the prior periods.

• After one-off adjustments, continuing operations recorded losses of S$12.7m for FY2025 and S$0.7m for 2H FY2025.

Outlook and guidance

• Cautiously optimistic outlook; Specialist Relocation positioned to benefit from semiconductor demand, including data centres and AI-related advances.

• Technical & Engineering expects alignment with global solar and renewable energy markets and Singapore Green Plan 2030.

• Third-Party Logistics is taking a cautious approach to new projects and emphasizing cost containment amid economic slowdown and project delays.