ISOTeam (5WF) H1 2026 earnings summary

Executive summary

• 1HFY2026 revenue fell 18.9% year-over-year to S$53.1m, while profit attributable to equity holders rose 70.0% to S$3.3m.

• Savings from converting a headquarters floor into foreign-worker accommodation helped keep gross profit stable and lift gross margin to 18.6%.

Financial highlights

• Revenue was S$53.1m versus S$65.4m a year earlier; the segment table reports a rounded total of S$53.0m.

• Gross profit was S$9.9m, essentially unchanged year-over-year; gross margin improved to 18.6% from 15.1%.

• Profit attributable to equity holders rose 70.0% to S$3.3m; profit after tax rose 41.2% to S$3.3m.

• EBITDA increased 5.7% to S$5.6m; other expenses fell 96.6% to S$0.1m.

• Basic EPS increased to 0.48 cents from 0.28 cents; net asset value per share was 7.27 cents at 31 December 2025.

Outlook and guidance

• Revenue recognition is expected to pick up in 2HFY2026 as ongoing projects reach scheduled completion.

• Order book stood at S$176.2m as of 11 February 2026, supporting revenue visibility through 2029.

• Outlook remains cautiously optimistic, with steady Singapore construction demand expected in 2026, supported by major public-sector projects.

• Tender activity rose across public and private sectors from 2H2025, with momentum expected to continue in 2026.