Link: https://links.sgx.com/1.0.0/corporate-announcements/VH291PCXFHACTGUJ/a23e4b8bb27e3739b7f088836b00843de643717f6d1e2b748396caf0b372f2c9

Summary:

• Revenue: Group revenue rose 3.6% year-on-year to S$17.311m in 1H FY2025 (Q2 up 15.2% to S$9.210m), driven largely by the Philippines and Europe within back-end equipment solutions and technologies.

• Gross profit: Gross profit more than doubled to S$4.567m in 1H (Q2: S$2.613m), reflecting lower cost of sales (down 15.4% YoY) and improved mix and operating efficiency.

• Operating results: From continuing operations, profit before tax reached S$0.912m in 1H (vs loss of S$3.344m a year ago); Q2 delivered S$0.798m PBT (vs loss of S$1.662m), aided by reduced administrative and finance costs.

• Net profit/loss: Net profit from continuing operations was S$0.712m in 1H (vs loss of S$3.427m); Q2 net profit S$0.674m. Total comprehensive loss remained due to currency translation losses.

• Earnings per share: Basic/diluted EPS from continuing operations improved to 0.11 cents in 1H (from a loss of 0.65 cents); Q2 EPS 0.10 cents.

• Expenses: Administrative expenses decreased 17.2% YoY to S$4.188m in 1H; finance costs net improved to S$0.021m income in 1H (vs S$0.282m net cost), reflecting deleveraging and lower lease/interest burden.

• Cash flow: Operating cash inflow of S$2.296m in 1H; investing cash outflow of S$0.082m; financing cash outflow of S$7.994m due to borrowings repayment and lease payments; cash and equivalents ended at S$16.423m (down from S$23.045m at start of period).

• Balance sheet: Total assets S$41.875m; equity S$31.950m; net assets value per share 4.88 cents (31 Dec 2024: 5.15 cents), with the decline primarily from foreign currency translation losses.

• Borrowings: Current loans and borrowings reduced sharply to S$0.780m at 30 Jun 2025 (from S$8.594m), after fully repaying a secured bank loan by March 2025; effective rates on remaining short-term bank borrowings were 7.25%.

• Segment: The group now reports only the Back-end Equipment Solutions & Technologies segment following the 2024 liquidation and deconsolidation of the Distribution & Services arm; 1H EBITDA improved to S$3.755m.

• Geography: 1H revenue was led by the Philippines (S$12.658m), Europe ex-UK (S$2.318m), and the UK (S$0.831m); China and Singapore declined year-on-year.

• Equity movements: Accumulated losses narrowed to S$83.967m from S$84.666m; foreign currency translation reserve moved to a S$2.828m deficit from S$0.372m.

• Dividend: No dividend is indicated for the period.

• Events after period: On 4–5 Aug 2025, Advanced Systems Automation Limited filed and then withdrew an interim injunction tied to ASTI’s potential winding-up action; a case management conference on the related application is set for 28 Aug 2025.