Metasurface Technologies (8637) H2 2025 earnings summary

Executive summary

• FY2025 revenue rose 26.3% YoY to SGD47,598k; profit for the year increased to SGD10,103k from SGD3,193k, supported by semiconductor demand and a one-time associate remeasurement gain.

• Unfulfilled purchase orders reached S$21.8m at year-end, versus S$19.5m a year earlier; plans include expanding production capacity and broadening sector and customer exposure.

Financial highlights

• Revenue SGD47,598k vs SGD37,722k; cost of sales SGD29,906k vs SGD24,856k; gross profit SGD17,692k vs SGD12,866k.

• Operating profit SGD13,695k vs SGD6,379k; profit before tax SGD11,580k vs SGD4,704k; net profit SGD10,103k vs SGD3,193k.

• Other income fell to SGD1,427k from SGD2,741k, while net other gains were SGD5,246k vs SGD1,092k, including a SGD6,397k associate remeasurement gain.

• Operating cash flow was SGD10,858k vs SGD6,360k; year-end cash and bank balances were SGD22,263k vs SGD17,974k.

Outlook and guidance

• Precision engineering demand outlook is positive, with technology innovation and adoption of advanced manufacturing, automation and digital technologies supporting demand for high-precision components.

• Capacity and workforce are being strengthened for expected demand; strategic priorities include deeper client collaboration and expansion in data storage, oil and gas, and module assembly.

• Backlog of unfulfilled purchase orders was S$21.8m at 31 Dec 2025, compared with S$19.5m at 31 Dec 2024.