HG Metal Manufacturing (BTG) H2 2025 / Transition period earnings summary

Executive summary

• Steel solutions business spans trading, fabrication, reinforcement systems and rental services, supported by over 50 years of regional experience.

• FP2025 covered the nine months ended 30 Sep 2025; the financial year-end changed to 30 Sep, so comparisons with FY2024 cover different periods.

• Sales volume rose 29% versus the same nine-month period in the prior financial year, while reported FP2025 revenue was S$130,273k and net profit was S$7,337k.

Financial highlights

• FP2025 revenue S$130,273k, reported change (17%) vs FY2024 S$157,867k; periods differ, as FP2025 covers nine months and FY2024 a full year.

• Gross profit S$19,208k, reported change (13%) vs S$22,072k; gross margin 14.7% vs 14.0%.

• Net profit S$7,337k vs S$8,841k; net margin 5.6% in both periods. The presentation marks the change as not meaningful.

• Diluted EPS S$0.0267 vs S$0.0361, with change marked not meaningful; NAV per share S$0.56 vs S$0.53.

Outlook and guidance

• Focus areas include cost controls, inventory and warehouse optimisation, ERP upgrades, deeper customer relationships and expansion of value-added services.

• Capacity expansion options include leasing facilities, acquiring land in Singapore and other markets, and pursuing strategic M&A.

• Strategic responses include agile procurement, just-in-time purchasing, long-term contracts, process efficiency and prioritising infrastructure and public-sector projects.