Frencken Group (E28) Q3 2025 TU earnings summary

Executive summary

• 3Q25 revenue rose 6.5% YoY to S$211.5m and PATMI increased 7.5% to S$9.9m; 9M25 revenue and PATMI grew 12.5% and 9.1%, respectively.

• FY2025 revenue is expected to grow over FY2024, although 2H25 revenue is anticipated to be marginally lower than 1H25.

Financial highlights

• 3Q25 gross profit margin was 14.8%, up 0.8 ppt YoY; 9M25 margin was 14.3%, down 0.2 ppt YoY.

• 9M25 revenue reached S$642.8m, up 12.5% YoY; PATMI increased 9.1% to S$29.8m.

Outlook and guidance

• 2H25 revenue is expected to be marginally lower than 1H25; FY2025 revenue is still expected to grow over FY2024, based on current indicators and barring unforeseen circumstances.

• 2H25 versus 1H25: semiconductor marginally lower, medical higher, analytical life sciences stable, industrial automation higher and automotive lower.

• FY2025 versus FY2024: semiconductor, medical, analytical life sciences and industrial automation higher; automotive stable.

• Longer-term priorities include growing semiconductor wallet share in Asia, developing local-for-local medical and life sciences business, advancing aerospace opportunities and expanding IMS advanced plastics solutions.