CSC Holdings (C06) H1 2025 earnings summary

Executive summary

• 1HFY25 revenue rose 5.5% YoY to $154.5m; gross profit reached $17.6m and profit for the period was $2.5m, reversing a $3.7m loss. EBITDA improved to $17.5m.

• Results benefited from higher Singapore construction activity, equipment trading sales, tighter project cost control and a $2.2m foreign-exchange gain.

Financial highlights

• Revenue $154.5m, up 5.5% YoY; gross profit $17.6m, up 35.5%, with gross margin at 11.4% versus 8.9%.

• Operating profit $5.7m versus a $1.0m operating loss; profit before tax $2.5m versus a $4.0m loss; net profit $2.5m versus a $3.7m loss.

• Adjusted for no stated adjustments, EBITDA was $17.5m versus $10.5m YoY; EPS was 0.06 cents versus a loss of 0.08 cents.

• Operating cash flow was $5.3m, down 20.7% YoY; cash and cash equivalents were $10.9m at 30 September 2024 versus $14.0m a year earlier.

Outlook and guidance

• Construction demand expected to benefit from sustained Singapore infrastructure and housing investment, private-sector momentum, Changi Airport Terminal 5 and integrated-resort expansion projects.

• Semiconductor and pharmaceutical manufacturing investment in Singapore expected to support industrial infrastructure demand; active tendering, disciplined cost control and resource optimisation remain priorities.

• Order book was $310m at 31 October 2024 versus $250m at 30 April 2024, with most projects scheduled for delivery in the next 12 months.