Grand Banks Yachts (G50) H2 2026 earnings summary

Executive summary

• FY2026 revenue reached a record S$173.2 million, up 6.7% YoY; net profit after tax fell 26.5% to S$13.4 million amid higher investment-related costs.

• A final dividend of 1.0 Singapore cent per ordinary share was proposed, keeping the FY2026 total dividend at 1.5 cents, unchanged YoY.

Financial highlights

• FY2026 revenue rose 6.7% to S$173.2 million; H2 revenue increased 7.1% to S$101.8 million.

• FY2026 gross profit was S$48.1 million, down 0.8%; gross margin declined to 27.8% from 29.9%.

• FY2026 operating expenses rose 24.1% to S$29.7 million; PBT fell 29.4% to S$18.0 million and net profit after tax fell 26.5% to S$13.4 million.

• EBITDA declined 14.5% to S$27.2 million; EPS fell 26.7% to 7.18 Singapore cents.

Outlook and guidance

• Q1 FY2027 sales enquiries and new order activity were strong, with 6 contracts signed and several more under negotiation.

• Capital expenditure is expected to moderate from FY2027 as the major investment cycle is largely complete.

• Focus areas include growing the order book, improving operational efficiency, strengthening sales and marketing processes, and expanding in Europe.

• The expanded asset base is positioned to generate recurring service, storage, berthing and brokerage revenue alongside boat building.