ISDN Holdings (I07) H1 2026 earnings summary

Executive summary

• H1 2026 revenue reached a record S$253.6m, up 19.1% YoY; profit attributable to shareholders rose 707.2% to S$10.4m from S$1.3m.

• Industrial Automation growth more than offset lower Renewable Energy revenue as two Indonesian hydropower projects neared completion.

• Strong automation demand and progress toward commissioning Lau Biang 2 and 3 underpin the growth outlook.

Financial highlights

• Revenue rose 19.1% YoY to S$253.6m; gross profit increased 24.9% to S$63.1m, with gross margin up 1.2 percentage points to 24.9%.

• Profit before tax increased to S$20.3m from S$7.5m; profit after tax was S$14.0m versus S$3.8m, up 262.8%.

• Basic and diluted EPS rose to 2.29 Singapore cents from 0.29 cents.

• Other operating expenses fell S$6.5m, mainly on lower net FX losses and inventory obsolescence provisions; distribution and administrative expenses rose with staff costs and business growth.

• Operating cash flow was S$1.0m versus S$7.2m, reflecting working-capital movements, service concession receivables, interest and tax payments.

Outlook and guidance

• Industrial Automation order book more than doubled YoY, with demand and intake broadening across segments and regions.

• Lau Biang 2 and 3 were targeted to commence operations in 2026; together, they are expected to add over S$6.0m in recurring annual net cash income, taking the total to S$14.0m.

• Two additional hydropower plants are expected to raise installed capacity 81.3% to 44.6 MW; the renewable portfolio is positioned as a recurring-income source.

• Continued Asian industrialisation, manufacturing upgrades and automation adoption are expected to support growth.