Link: https://links.sgx.com/1.0.0/corporate-announcements/52QBP2XF23O4MHCV/174916b2a58340f15b14cc6df498972d3299479a090a175f0ed3b50bd8cd3020

Summary:

• Revenue for 3QFY2025 was S$31.7 million, down 9% year-on-year, and 9MFY2025 revenue was S$84.4 million, a 13% decrease, mainly due to lower shipyard and third-party rechartering income.

• Gross profit remained steady at S$14.0 million for 3QFY2025 with an improved gross profit margin of 44%; 9MFY2025 gross profit reached S$35.6 million with a margin of 42%.

• Ship Chartering segment generated S$22.2 million in 3QFY2025, aided by improved charter rates and the first contribution from the new CSOV vessel and newly purchased CTVs.

• Vessel utilisation rebounded to 71% in 3QFY2025, showing recovery in chartering activity despite softer market conditions.

• Shipyard operations saw revenue of S$9.5 million in 3QFY2025; average ship repair utilisation rose to 88%. Shipbuilding revenue declined due to fewer new projects.

• The new (fourth) dry dock is now operational, expanding shipyard capacity and expected to boost performance in FY2026.

• Marco Polo Marine is strategically positioned for growth within the oil & gas and especially the renewable energy sectors, leveraging increasing demand for specialised vessels—especially in offshore wind markets.

• The offshore wind sector remains robust with global expansion; the Group’s CSOV and CTVs are key to serving this segment.

• Outlook remains positive, with the new vessels expected to drive growth in the second half of FY2025 and beyond, and continued optimism about opportunities in offshore wind and sustainable marine logistics.