New Toyo International Holdings (N08) H2 2025 earnings summary

Executive summary

• FY2025 revenue was S$310.8m versus S$317.5m in FY2024; constant-currency revenue would have risen 1.0%. Profit attributable to owners fell to S$4.2m from S$9.3m.

• Resilient demand in Indonesia and the Middle East partly offset weaker orders, lower selling prices and sourcing realignments; cost discipline and operating cash generation supported liquidity.

Financial highlights

• Gross profit was S$31.9m versus S$34.0m; gross margin was 10.3% versus 10.7%. Operating profit was S$8.8m versus S$14.9m.

• FY2025 EBITDA was S$23.1m versus S$27.6m; EBIT S$8.5m versus S$14.4m; PBT S$7.6m versus S$13.8m; net profit S$5.1m versus S$11.1m.

• Profit attributable to owners was S$4.2m versus S$9.3m; basic and diluted EPS were 0.95 cents versus 2.13 cents.

• Administrative expenses rose to S$20.1m from S$18.4m, including a one-off S$1.0m donation; other operating expenses increased to S$3.4m, including higher FX losses and depreciation.

Outlook and guidance

• The operating environment is expected to remain competitive, with geopolitical uncertainty continuing to pressure trade flows, logistics costs and supply-chain stability; no numerical earnings guidance was stated.

• Sustainable packaging demand, regional sourcing diversification and emerging-market consumption are viewed as long-term industry supports; priorities include efficiency, cost discipline and market presence.

• Proposed FY2025 final dividend is 0.4 Singapore cents/share, subject to approval; with the 0.5-cent interim dividend, the proposed full-year payout is 0.9 cents/share.