COSCO SHIPPING International (Singapore) (F83) H1 2026 earnings summary

Executive summary

• H1 2026 revenue rose 6% YoY to S$96.791m; profit attributable to equity holders increased 188% to S$7.565m.

• Profit before tax climbed 90% to S$11.377m, while gross profit rose 3% to S$23.773m.

Financial highlights

• Cost of sales increased 8% to S$73.018m, in line with higher activity in warehousing, automotive services, ship repair and marine engineering.

• Other income rose 99% to S$2.790m, including S$0.982m interest income; finance costs fell 62% to S$1.8m.

• Share of associate profits increased 31% to S$2.755m, with higher contributions from PT. Ocean Global Shipping Logistics and SINOVNL Company Limited.

• Net profit was S$8.279m, up 149%; basic and diluted EPS were both S$0.17 versus S$0.12.

Segment performance

• Logistics revenue rose 6% to S$85.172m, about 88% of total revenue, mainly on higher warehousing and automotive services; segment PBT was S$12.3m, up 60%.

• Ship repair and marine engineering revenue rose 14% to S$10.351m on higher ship repair and fabrication works; PBT was S$1.0m, down 45.4%.

• Property management revenue was S$1.268m and PBT was S$0.7m; shipping and others recorded a S$2.7m loss, reduced 34.5%.

• Indonesia associates recorded steady revenue and profit growth; the Vietnam associate reported steady depot business growth.