Oceanus Group (579) H2 2025 earnings summary

Executive summary

• FY2025 was a restructuring year, with non-core activities exited or scaled back to focus on Trade & Distribution, Logistics (4PL) and ODIN.

• Reported net loss was SGD 8.4m; management attributed it to legacy clean-up, FX losses, higher financing costs and the absence of prior-year one-off gains.

• Adjusted for identified non-recurring items and the removal of one-off gains and ceased non-core segments, a normalised net profit of ~SGD 0.8m was reported.

Financial highlights

• FY2025 revenue was SGD 279.5m versus SGD 289.5m in FY2024; the financial review cited a 3% decline, mainly from lower commodity volumes and strategic exits.

• Gross profit was SGD 18.3m, down 5% YoY; reported net loss was SGD 8.4m versus net profit of SGD 0.09m in FY2024.

• Continuing operations recorded a loss of SGD 10.0m; discontinued operations contributed profit of SGD 1.6m, leaving total net loss of SGD 8.391m.

• Net cash used in operating activities was SGD 18.095m versus SGD 9.686m generated in FY2024, with inventory changes absorbing SGD 21.051m.

• Total assets were SGD 180.5m, total equity SGD 50.6m and cash and bank balances SGD 8.1m at year-end.

Outlook and guidance

• FY2026 priorities are cost discipline, tighter working capital management and operational efficiency, with growth built on Trade & Distribution, Logistics (4PL) and ODIN.

• Trade & Distribution plans include growing cross-border e-commerce, online and hotel/restaurant channels, proprietary brands and North American operations.

• ODIN development priorities include blockchain-based trade verification and tokenisation, AI-driven analytics and risk management, and streamlined payments and financing.

• Remaining investment properties held for sale are expected to be disposed of during FY2026, subject to completion of rectification works.

• Management expects continued macroeconomic uncertainty and supply-chain headwinds, while stating core operations remain intact and profitable.