Koda (BJZ) H2 2025 earnings summary

Executive summary

• FY2025 returned to profitability, with revenue of US$52.7m and net profit attributable to owners of US$547k, versus a US$4.5m loss in FY2024.

• Higher export sales, production utilisation, cost controls and improved operating cash flows supported the turnaround amid weak consumer sentiment and market uncertainty.

Financial highlights

• Revenue rose 15.6% to US$52.730m; gross profit increased 29.2% to US$16.570m.

• Profit before tax was US$898k versus a FY2024 loss of US$4.166m; net profit was US$576k versus a US$4.596m loss.

• Net profit attributable to owners was US$547k versus a US$4.522m loss; EPS was US$0.66 cents versus a loss of US$5.44 cents.

• Operating cash flow was US$981k versus cash used of US$797k; cash and cash equivalents ended at US$10.178m, down US$1.0m YoY.

• Selling and distribution costs and administrative expenses fell to US$6.885m and US$8.697m, respectively; finance costs rose to US$623k on higher bank-loan interest.

Outlook and guidance

• Growth strategy will proceed at a less aggressive, more progressive pace, with continued focus on customer affordability, product range and process efficiencies.

• US tariffs have raised consumer prices and outsourcing costs; potential additional furniture tariffs could further pressure retail traffic, demand recovery and retailer costs.

• China retail demand remains weak amid the deepening property downturn; the effect of stimulus on consumer sentiment and demand remains uncertain.