Lion Asiapac (BAZ) H2 2025 earnings summary

Executive summary

• FY2025 net loss after tax was S$0.843m, versus S$1.452m profit in FY2024; continuing operations lost S$1.573m, partly offset by S$0.730m from discontinued operations.

• Completed the Compact Energy disposal on 2 September 2025, exiting the lime business and planning to focus on roofing solutions and new opportunities with recurring revenue potential.

• Liquidity remained healthy at 30 June 2025, with S$53.0m working capital and S$60.0m net assets.

Financial highlights

• Continuing-operations revenue fell 33% YoY to S$17.267m, mainly due to lower trading sales; gross margin rose to 17.9% from 11.6%.

• Continuing-operations loss after tax was S$1.573m, versus S$0.494m profit; total loss after tax was S$0.843m, versus S$1.452m profit.

• Discontinued operations generated S$13.407m revenue and S$0.730m profit after tax, compared with S$15.476m and S$0.958m in FY2024.

• Total assets were S$72.4m, liabilities S$12.4m and net assets S$60.0m at 30 June 2025; YoY decreases were S$2.3m, S$1.8m and S$0.4m, respectively.

Outlook and guidance

• Adopting a cautious, deliberate approach to expansion amid global economic uncertainty and heightened geopolitical tensions; future investments will be assessed against strategy and risk appetite.

• Priorities include growing the roofing solutions business and exploring opportunities that can deliver recurring revenue and profits.

• No FY2025 dividend recommended; conserving cash supports ongoing operations and future growth after the planned capital-reduction distribution.