Powermatic Data Systems (BCY) H1 2025 earnings summary

Executive summary

• 1HFY2025 revenue fell 58% YoY to S$7.488m and net profit fell 85% to S$1.059m, reflecting weaker wireless connectivity orders and lower gross margin.

• Cash and bank balances remained substantial at S$56.392m; working capital was S$53.93m at 30 September 2024.

Financial highlights

• Revenue was S$7.488m, down 58% YoY; gross profit was S$3.648m, down 61%, and gross margin was 48.7% versus 52.8%.

• Profit before tax declined 82% to S$1.493m; net profit was S$1.059m versus S$7.132m, down 85% YoY.

• Other gains were S$592k versus S$865k; other losses were S$708k versus S$9k, primarily reflecting a S$0.7m FX loss as USD weakened against SGD.

• Basic and diluted EPS were both 3.03 Singapore cents, down from 20.40 cents.

• Net cash from operating activities was S$0.8m; period-end cash and bank balances were S$56.392m versus S$58.950m at 31 March 2024.

Outlook and guidance

• Wi-Fi 7-compatible offerings are available; customer orders remained constrained by Wi-Fi 6 inventory levels and time needed to transition to Wi-Fi 7.

• Redeveloped property sales opened on 25 October 2024; bookings to date represented ~23% of the development, with three real estate firms engaged to market it.

• New opportunities are being pursued in robotics, warehousing and healthcare, alongside traditional customer industries.