Nordic Group (MR7) H1 2026 earnings summary

Executive summary

• 1H2026 revenue increased 3% YoY to S$87.237M; operating profit rose 12% to S$13.087M and net profit grew 21% to S$10.008M.

• Order book reached a record S$254.3M at 30 June 2026, supporting revenue visibility alongside contract wins and an expanding Thailand operation.

Financial highlights

• Revenue was S$87.237M versus S$84.837M in 1H2025; gross profit increased 7% to S$20.584M.

• Gross margin rose to 23.6% from 22.6%; operating profit increased to S$13.087M from S$11.657M and operating margin improved 1.3 ppts to 15.0%.

• Net profit was S$10.008M versus S$8.276M; net margin rose to 11.5% from 9.8%, while basic and diluted EPS increased 19% to 2.5 cents.

• Net operating cash flow was S$11.386M; cash and cash equivalents were S$46.538M at period-end, versus S$41.806M at 31 December 2025.

Outlook and guidance

• Order book was S$254.3M: Project Services S$111.3M and Maintenance Services S$143.0M; S$71.5M of new contracts comprised S$58.6M project and S$12.8M maintenance wins.

• YTD contract wins totalled S$126M, comprising S$108.7M in engineering solutions and S$17.3M in engineering services; book-to-bill was 1.46x using extrapolated FY2026 revenue.

• Order fulfilment is expected mainly over 36 months; timing and scope remain subject to customer rescheduling, variation or cancellation.

• Positive long-term prospects were cited across marine, petrochemical and infrastructure, semiconductor, and defence markets; cost and risk management and M&A exploration remain priorities.