Link: https://links.sgx.com/1.0.0/corporate-announcements/5DHBMWH2CBWK4UK6/0998ada8857ff1460a1c76a24e8738a7eeeaef6e70884adcb9052a76b58bbb3e

Summary:

• Revenue: S$1,104.7 million, slightly down by 0.3% from FY2024.

• Profit:

  • Profit before finance costs and share of associates surged 23.9% to S$68.0 million.

  • Net profit attributable to shareholders at S$24.3 million, reversing from a S$58.7 million loss last year.

  • Earnings per share rose to 4.90 cents from a loss of 12.14 cents.

• Dividends:

  • Full-year dividend raised by 50% to 3.0 cents per share, reflecting a payout ratio of 61.2%.

• Financial Position:

  • Net assets increased to S$430.9 million.

  • Gearing ratio improved to 63.3% (from 71.8%).

• Business Highlights:

  • Battery: Primary battery sales grew 8.6%, led by 15.8% increase in Americas; gross margin up to 25.0%.

  • Audio: KEF sales rose 7.0% with strong 12.3% growth in the Americas. Celestion posted 7.2% growth, driven by 21% surge in guitar speaker sales. Gross margin improved to 45.0%.

• Strategic Initiatives:

  • Expanded Southeast Asia production to avoid China-US tariffs; only ~14% of sales involve direct China-US trade.

  • Issued US$11 million perpetual bonds and secured S$70 million sustainability-linked loan.

  • Continued pivot to higher-margin branded products.

• Sustainability Progress:

  • Achieved Zero Waste to Landfill validation at four sites (2 Platinum in Malaysia, 2 Gold in China & Vietnam).

  • Targeting net-zero Scopes 1 & 2 carbon emissions by 2050.

• Outlook:

  • Positive on demand in IoT batteries, premium audio and automotive (KEF-Lotus partnership).

  • Confident in sustaining growth despite global uncertainties through brand-led innovation and diversified manufacturing.