Link: https://links.sgx.com/1.0.0/corporate-announcements/R95Z2BMZXE5HIWYM/974ce2e3c31b8c1c77ad65affcfaa8fa9d680a7095b4b2257f0dd87e0c049e73

Summary:

• Eneco Energy, through its RichLand Logistics arm, delivered a turnaround in FY2025—reporting S$47.5 million revenue (up 55%) and profit before tax of S$0.7 million despite higher operating costs.

• The company secured five new logistics contracts worth S$4 million per annum, including a contract for a 100% Green Distribution Model with five electric trucks deployed, as well as exclusive rights for an innovative engineering solution for oil and gas transportation.

• Cash and cash equivalents rose to S$9.5 million, maintaining a robust liquidity buffer for working capital and investment; the balance sheet remained strong with no bank borrowings and increased equity from warrant exercise.

• RichLand Logistics delivered steady business volumes, supported by e-commerce growth and stable customer base, while effecting operational efficiency and disciplined spending.

• The Group conducted major board and management refresh in early 2025, welcoming new directors and a new chairman.

• For 2026, the group plans to focus on technology-driven logistics, sustainability, and segment growth through selective acquisitions, contract execution, and continued operational optimisation.