Link: https://links.sgx.com/1.0.0/corporate-announcements/XO104O469PQH3OL3/f4fc611a4afe2e424710f620cf0f7cbcfb17e742645b781f7c51c2078c34bee7

Summary:

• Revenue: Fell 13.9% year-on-year to S$165.1 million (FY2024: S$191.8 million), mainly due to lower contributions from the concert/event and cinema segments.

• Gross Profit: S$17.1 million (down from S$50.4 million); gross margin dropped to 10.4% (from 26.3%).

• Net Loss: S$122.4 million (FY2025), a sharp increase from the S$1.9 million loss in FY2024.

  • Loss from continuing operations: S$99.7 million

  • Loss from discontinued operations: S$5.6 million

  • Loss to equity holders: S$99.7 million (continued), S$5.1 million (discontinued)

• EBITDA: S$14.6 million (down from S$41.1 million), impacted by impairments, legal and closure costs related to cinema business.

• Cinema segment: Full impairment recognized for 2 Singapore cinema closures; ongoing legal issues.

• Content Business: Regional sales remained strong, with segment EBITDA of S$24.7 million.

• Outlook & Strategy: Management is focusing on creditor negotiations, revitalizing core business, growth in new content ventures, and divestment of non-core units. Emphasis remains on strengthening the business after post-pandemic setbacks and cinema industry challenges.

The Group continues to operate in Singapore, Malaysia, Hong Kong, Taiwan, China, and the USA, with plans to strengthen balance sheets and core business segments through disciplined focus and divestments.