Kingboard Laminates (1888) H1 2025 earnings summary

Executive summary

• Revenue rose 11% year-over-year to HK$9,588.0 million, driven by strong demand in electronics and AI sectors, with high-end product sales and capacity utilization improving.

• Net profit attributable to owners increased 28% year-over-year to HK$933.3 million; EBITDA up 8% to HK$1,699.4 million.

• Interim dividend declared at HK15.0 cents per share, up 25% from prior year.

• Vertically integrated supply chain and product mix optimization contributed to improved profitability.

Financial highlights

• Profit before tax increased 22% year-over-year to HK$1,171.3 million.

• Basic earnings per share rose 28% to HK29.9 cents.

• Net asset value per share at HK$4.79, down 2% from year-end 2024.

• Net gearing ratio increased to 20% from 17% a year ago.

• EBITDA grew 8% year-over-year to HK$1,699.4 million.

Outlook and guidance

• Anticipates continued robust demand from electronics, AI, cloud data centers, robotics, and high-speed network sectors.

• Plans to expand high-end product lines and increase laminates capacity in Thailand and China to meet global demand.

• Specialty fibreglass yarn, electronic-grade fibreglass fabric, and copper foil projects to come online in 2025–2026, supporting further growth.