Acesian Partners swings from S$0.5m profit to S$2.6m FY2025 loss as revenue drops 21% and margins compress in weak ducting project market
Summary:
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FY2025 revenue fell 20.8% to S$6.20 million as a key greenfield project’s ductwork was sourced offshore, limiting domestic orders and leaving production capacity under‑utilised.
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Gross profit slumped 57.8% to S$1.39 million on lower volumes and price‑driven margin compression, while higher staff costs and FX losses pushed the Group to a S$2.59 million pre‑tax loss versus a S$0.52 million profit in FY2024.
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Net loss attributable to shareholders came in at S$2.56 million (‑0.54 cent per share), compared with a S$0.51 million profit (+0.11 cent) a year earlier; no dividend was declared as the Company remains in an accumulated‑losses position.
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Cash and cash equivalents declined to S$16.36 million from S$18.39 million on S$0.97 million of capex for machinery, vehicles and new right‑of‑use assets and S$0.64 million increase in lease liabilities, though the Group remains debt‑light with only S$2.08 million of lease liabilities.
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Management flags intense competition and limited regional greenfield projects but notes 2H FY2025 revenue was 44% higher year on year and expects momentum in its duct business to continue, while it actively pursues new orders amid a volatile macro backdrop.