Sanergy Group (2459) H2 2025 earnings summary

Executive summary

• Achieved a turnaround from a gross loss of US$17.3M in 2024 to a gross profit of US$4.5M in 2025, driven by cost control, production optimization, and strategic sales focus.

• Revenue declined to US$51.9M (down from US$57.0M), mainly due to lower average selling prices and reduced sales volume.

• Net loss attributable to owners narrowed to US$25.5M from US$41.0M, with adjusted net loss at US$21.0M (excluding non-cash FX losses).

• No dividend declared for 2025 to preserve liquidity amid market uncertainties.

Financial highlights

• Revenue: US$51.9M (down 8.9% year-over-year).

• Gross profit: US$4.5M (vs. gross loss of US$17.3M in 2024); gross margin improved to 8.8% from -30.3%.

• Adjusted EBITDA: -US$13.0M (improved from -US$35.9M).

• Loss per share: US$(1.8) cents (restated 2024: US$(3.5) cents).

• Administrative expenses reduced by 10.8% to US$13.2M.

Outlook and guidance

• Expects subdued steel sector demand, geopolitical tensions, and trade uncertainties to persist in 2026.

• Strategic focus on selective commercial growth, operational discipline, and financial sustainability.

• Well-positioned to benefit from long-term EAF steelmaking trends and decarbonization.