Fu Yu Corporation (F13) H2 2025 earnings summary

Executive summary

• FY2025 manufacturing revenue rose 6.8% YoY to S$122.7m, but reported revenue fell 35.9% to S$122.7m after supply-chain services ended in Q4 FY2024; net loss widened to S$8.1m.

• Excluding one-off costs and FX loss, continuing-operations net profit was S$2.3m versus a S$0.7m loss in FY2024; total adjusted net profit was S$1.8m.

Financial highlights

• Gross profit increased 4.8% to S$17.8m; manufacturing gross margin improved to 14.5% from 13.5%.

• Continuing-operations loss before tax was S$6.7m versus FY2024 profit before tax of S$0.2m; net loss from continuing operations was S$7.6m.

• Continuing-operations EBITDA was S$1.3m versus S$8.8m; basic EPS was a loss of 1.07 cents versus 0.59 cents.

• One-off expenses included S$2.8m professional fees, S$3.1m Zhuhai closure costs and S$1.5m doubtful-debt provision; net FX loss was S$2.5m.

Outlook and guidance

• One-off costs are expected to decline significantly from FY2026; China footprint consolidation is expected to support a more sustainable cost structure from FY2026.

• FY2026 priorities include process optimisation, lower material waste and yield loss, cost reduction, customer-base expansion, and stronger medical and biomedical business development.

• Management aims to reduce energy intensity and GHG emissions intensity by 5% in FY2026, maintain or reduce water use at FY2025 levels, and maintain FY2025 average training hours per employee.