Nanofilm Technologies (MZH) Q3 2025 earnings summary

Executive summary

• 3Q2025 revenue reached S$72m, up 20% year-over-year, with 9M2025 revenue at S$179m, a 26% increase year-over-year, reflecting a robust and diversified business model.

• Growth was led by Advanced Materials - Consumer and Industrial segments, and Industrial Equipment, while NFBU contracted due to lower volumes.

• The business remains profitable and continues to diversify its portfolio and production footprint.

• Strategic expansion in Vietnam, India, and Europe supports future growth and operational efficiency.

Financial highlights

• 3Q2025 revenue: S$72m (+20% YoY); 9M2025 revenue: S$179m (+26% YoY).

• Advanced Materials Business Unit revenue grew 27% YoY to S$63m in 3Q2025.

• 9M2025 gross profit margin was 36%, slightly down from 37% in 9M2024; EBITDA margin improved to 24% from 23%.

• Group remained profitable in both 3Q2025 and 9M2025.

Outlook and guidance

• Advanced Materials - Consumer expects continued ramp-up and increased penetration in watch housing and geographical diversification.

• Advanced Materials - Industrial maintains a healthy order book in Southeast Asia and sustained demand in China.

• Equipment business anticipates ongoing growth with deliveries in Asia and Europe and steady after-sales revenue.

• NFBU is preparing for the next growth phase, with steady programme deliveries and new product introductions.

• Sydrogen continues to strengthen its position in the Chinese fuel cell market and expand in Europe.