Hong Leong Asia (H22) H2 2025 earnings summary

Executive summary

• FY2025 revenue rose 22.0% to S$5.182B; net profit after tax increased 40.0% to S$213.323M and PATMI rose 28.5% to S$112.824M, led by Yuchai.

• Powertrain Solutions drove growth, while Building Materials delivered modest revenue growth and higher profit after tax.

Financial highlights

• 2H 2025 revenue was S$2.522B, up 26.2% YoY; net profit was S$92.1M, up 54.0%.

• FY2025 EPS rose 28.5% to 15.08 cents, versus 11.74 cents in FY2024.

• Operating cash flow was S$594.2M versus S$289.6M in FY2024; free cash flow was S$450.5M versus S$171.0M.

Outlook and guidance

• Barring unforeseen circumstances, businesses are expected to deliver satisfactory results in 2026; Yuchai expects growth from data-centre engines and truck and bus exports.

• BMU Singapore expects steady precast and ready-mixed concrete growth as it executes its order book; Malaysia demand is expected to benefit from infrastructure development and the Johor-Singapore Special Economic Zone.

• Vision 2030 prioritizes market leadership, sustainability, responsibility, innovation and talent, supported by advanced manufacturing, resilient portfolios and partnerships.

• ESG ambitions include cutting CO2 emission intensity 60% from the 2016 baseline and using at least 3M tonnes of waste or alternative materials annually.