Oceanus Group (579) H1 2025 earnings summary

Executive summary

• H1 2025 revenue fell 6% YoY to SGD119.6m, while net profit turned positive at SGD321k from a SGD1.2m loss in H1 2024.

• EBITDA increased 20% to SGD4.7m; gains on asset disposals contributed to higher other operating income.

• Priorities are cost efficiency, sustainable profitability and working-capital improvement, alongside expansion of food security and digital trade capabilities.

Financial highlights

• Revenue was SGD119.6m, down 6% YoY; gross profit declined 19% to SGD7.6m.

• EBITDA rose 20% to SGD4.7m; depreciation fell 47% to SGD0.9m, while finance costs decreased 3% to SGD3.0m.

• PBT was SGD759k versus a SGD867k loss; net income was SGD321k versus a SGD1.171m loss.

• Other operating income increased 72% to SGD5.5m, mainly from asset disposal gains; other operating expenses eased 2% to SGD8.5m.

• Basic and diluted EPS were SGD0.001 cents per share, versus a SGD0.005-cent loss per share in H1 2024.

Outlook and guidance

• Focus is shifting after six years of rapid sales growth toward cost efficiencies, sustainable profitability and improving the working-capital cycle across segments.

• Plans include expanding product offerings and presence across the supply chain, while divesting non-core businesses.

• Priorities include expanding into North America and LATEM markets, with opportunities in wheat, rice, corn and sugar, and growing ODIN’s trade-financing platform.

• Continued investment in ODIN, AI, data analytics and payment innovation is intended to improve cross-border payments, warehousing, trade finance and shipment tracking.