Link: https://links.sgx.com/1.0.0/corporate-announcements/HYZ9D1GNBSBIGE3K/7bdc8760cd4d8d451d6a08394fc9f242fb4caae843d9f8fede0af0f8a0c1c2d7

Summary:

• Revenue: Fell 9.0% to S$32.67m versus 1H2024, driven by softer performance across key attractions.

• China attractions: Sales about 13% lower year-on-year as visitors grew more cautious on discretionary leisure spending.

• Singapore Flyer: Registered a single-digit revenue decline; still drew visitors during holiday periods.

• Net profit: Came in at S$5.35m, down from S$10.49m, impacted by weaker revenues and an adverse exchange loss.

• FX impact: Recorded S$1.24m exchange loss in 1H2025 versus a S$0.38m gain in 1H2024, weighing on bottom line.

• Profit before tax: S$9.05m compared with S$14.81m a year ago, reflecting softer topline and FX headwinds.

• Earnings per share: 0.63 Singapore cents, down from 1.23 cents, aligning with lower net profit.

• Cash position: Net cash S$166.78m (19.5 cents per share), providing balance sheet strength and optionality.

• Operating results: Flagship venues (Shanghai Ocean Aquarium, Singapore Flyer) continued to attract visitors, particularly during holidays, but overall spend per visitor appears pressured.

• Strategy/initiatives: Ongoing investments in people, technology, and exhibit quality; new Singapore Flyer partnership with South Korean brand WIGGLE WIGGLE to refresh offerings.

• Macro context (China): GDP up 5.3% YoY in 1H2025; tourism supported by strong domestic travel and more visa-free access, but consumer caution persists.

• Macro context (Singapore): GDP up 4.2% YoY; 8.33m visitors in 1H2025 (89.4% of 2019), with authorities focused on quality tourism amid geopolitical and macro headwinds.