Grand Banks Yachts (G50) Q1 2025 TU earnings summary

Executive summary

• 1Q FY2025 revenue rose 29.1% YoY to S$40.043m; profit after tax increased 95.0% to S$5.439m.

• Seven new boat orders and two trade-in orders were recorded; net order book was S$116.0m at 30 September 2024.

Financial highlights

• Revenue was S$40.043m, up 29.1% YoY; gross profit was S$13.062m, up 29.2%.

• Profit before tax rose 63.0% YoY to S$7.670m; profit after tax rose 95.0% to S$5.439m.

• Total operating expenses were S$5.136m, down 1.3% YoY.

Outlook and guidance

• Strong order book expected to cushion near-term macroeconomic headwinds; sales pipeline to be maintained alongside new boat models and innovations.

• New single-storey Pasir Gudang facility expected to be completed by December 2024, expanding usable floor space by over 25%.

• Expanded capacity is expected to shorten delivery times and support construction of larger yachts.