Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was SGD 37,722,000, a decrease of 2.7% from SGD 38,769,000 in the previous year[4] - Gross profit for the same period was SGD 12,866,000, down 10.8% from SGD 14,415,000 year-on-year[4] - Operating profit increased to SGD 6,379,000, representing a growth of 26.2% compared to SGD 5,054,000 in the prior year[4] - The net profit attributable to the owners of the company was SGD 3,193,000, a decrease of 30.7% from SGD 4,607,000 in the previous year[5] - Basic earnings per share from continuing operations rose to SGD 2.34, up from SGD 2.00, reflecting a 17% increase[5] - The company reported a total comprehensive income of SGD 3,083,000 for the year, down from SGD 4,598,000 in the previous year[5] - The company reported a net profit of 3,193 thousand SGD for the year, compared to a profit of 4,607 thousand SGD in 2023, reflecting a decline of 30.7%[8] - Basic earnings per share for 2024 was SGD 0.0234, compared to SGD 0.0374 in 2023, reflecting a decrease of 37.5%[29] - The group recorded a profit of approximately S$3.2 million and S$4.4 million for the years ending December 31, 2024, and 2023, respectively[51] - Adjusted profit (non-IFRS measure) for the year ending December 31, 2024, was approximately S$5.8 million, with an adjusted profit margin of 15.4%, compared to S$7.1 million and 18.2% for the year ending December 31, 2023[52] Revenue Breakdown - Precision machining services generated revenue of 17,077 thousand SGD, up 9.9% from 15,545 thousand SGD in the previous year[17] - Precision welding services saw a decline in revenue to 20,645 thousand SGD, down 11.1% from 23,224 thousand SGD in 2023[17] - Revenue from the semiconductor sector was 33,659 thousand SGD, slightly down from 34,077 thousand SGD in 2023[20] - The aerospace sector revenue increased significantly to 3,025 thousand SGD from 1,646 thousand SGD in the previous year, marking an increase of 83.7%[20] - Revenue from Singapore decreased to SGD 11,278,000 in 2024 from SGD 14,807,000 in 2023, representing a decline of 24.0%[22] - Revenue from Malaysia increased to SGD 17,037,000 in 2024, up 6.0% from SGD 16,072,000 in 2023[22] Assets and Liabilities - Total assets as of December 31, 2024, were SGD 76,500,000, a slight decrease from SGD 69,860,000 in the previous year[6] - Current assets increased to SGD 33,030,000, up from SGD 25,515,000, indicating a significant improvement in liquidity[6] - The net current assets improved to SGD 21,374,000, compared to SGD 9,900,000 in the previous year, showing a strong financial position[7] - Non-current liabilities decreased to SGD 25,432,000 from SGD 27,248,000, indicating a reduction in long-term financial obligations[7] - The company’s total equity as of December 31, 2024, was 26,997 thousand SGD, a decrease from 39,412 thousand SGD in 2023[8] - The total borrowings amounted to approximately S$2.5 million as of December 31, 2024, with an interest rate ranging from 3.44% to 7%[55] - The debt-to-equity ratio was 6.4% as of December 31, 2024, down from 15.7% as of December 31, 2023[56] Cash Flow and Investments - The net cash generated from operating activities for 2024 was 6,360 thousand SGD, a decrease of 39.8% compared to 10,486 thousand SGD in 2023[9] - Cash and cash equivalents increased by 8,866 thousand SGD, reaching a total of 17,974 thousand SGD at year-end, compared to 9,225 thousand SGD at the beginning of the year[9] - Capital expenditures for the year ending December 31, 2024, totaled approximately S$3.2 million, compared to S$1.6 million for the year ending December 31, 2023[57] - The company raised approximately S$65.34 million through the issuance of 27,000,000 shares at HK$2.42 each on July 2, 2024[61] - The remaining net proceeds from the share issuance are expected to be used for operational expansion, quality control enhancement, and marketing efforts, with a total of S$1.878 million allocated for these purposes[62] Operational Highlights - The company plans to expand its capacity and strengthen its workforce to meet anticipated market demand growth, particularly in the aerospace sector[44] - The company aims to diversify its customer base and explore new business opportunities in data storage, oil, and gas industries[44] - The group has an accumulated unfulfilled purchase order of approximately 19.5 million SGD as of December 31, 2024, down from 24.9 million SGD as of December 31, 2023[41] - The group reported related party transactions for the year ended December 31, 2024, including purchases of goods and services from Metasurface & Co amounting to SGD 179,000, up from SGD 91,000 in 2023[77] Employee and Governance - As of December 31, 2024, the group employed 179 staff, an increase from 141 staff in the previous year, with employee costs amounting to approximately SGD 9.6 million compared to SGD 8.8 million in the prior year[68] - The group emphasizes continuous employee development as a key success factor, providing regular training to enhance workforce knowledge[69] - The company has established an audit committee consisting of three independent non-executive directors to review accounting principles, internal controls, and financial reporting matters[91] - The company has complied with all relevant laws and regulations that significantly impact its business, including health and safety, workplace conditions, employment, and environmental regulations[88] - The company has adopted the corporate governance code principles and has maintained compliance with applicable principles and code provisions since its listing date[89]
元续科技(08637) - 2024 - 年度业绩