Metasurface Technologies (8637) H1 2025 earnings summary

Executive summary

• H1 2025 revenue rose 33.2% YoY to SGD 24.766m; profit for the period increased to SGD 3.132m from SGD 2.097m.

• Higher semiconductor demand lifted precision machining and welding sales; unfulfilled purchase orders were SGD 17.8m at 30 June 2025, versus SGD 17.2m a year earlier.

Financial highlights

• Revenue was SGD 24.766m versus SGD 18.598m; cost of sales rose to SGD 14.355m from SGD 11.203m, while gross profit increased to SGD 10.411m from SGD 7.395m.

• Operating profit was SGD 5.527m versus SGD 3.488m; profit before tax was SGD 3.953m versus SGD 2.754m; net profit was SGD 3.132m versus SGD 2.097m.

• Other income fell to SGD 0.766m from SGD 1.435m after a lease and service agreement expired; net other losses were SGD 0.548m versus gains of SGD 0.375m.

• Net cash from operating activities was SGD 5.099m versus SGD 6.455m; cash and cash equivalents ended the period at SGD 18.959m, up from SGD 17.974m at 31 December 2024.

Outlook and guidance

• Priorities include expanding in data storage, oil and gas, and aerospace; deepening customer collaboration; and developing opportunities in module assembly and related services.

• Plans include strengthening production capabilities and quality control, developing new clients, and evaluating strategies to optimize capital and resources; no numerical outlook was stated.

• The SGD 17.8m backlog at 30 June 2025 reflected steady demand and a healthy pipeline of ongoing projects.