Financial Performance - Total revenue for the year ended December 31, 2023, was SGD 60,481,361, representing an increase of 4.3% from SGD 57,035,967 in 2022[3] - Gross profit for the same period was SGD 19,167,568, up from SGD 18,160,543, indicating a gross margin improvement[3] - Net profit for the year was SGD 3,442,844, a decrease of 24.6% compared to SGD 4,565,566 in 2022[3] - Basic and diluted earnings per share decreased to SGD 0.27 from SGD 0.36, reflecting a decline of 25%[3] - The group's pre-tax profit decreased to SGD 4,490,819 in 2023 from SGD 5,552,681 in 2022, a decline of approximately 19.14%[19] - The company's profit attributable to owners for the year 2023 was SGD 3,426,958, a decrease of 24.6% from SGD 4,539,208 in 2022[37] - Net profit decreased from approximately SGD 4.6 million in 2022 to SGD 3.4 million in 2023, with the net profit margin dropping from about 8.1% to 5.7%[73] Revenue Breakdown - Revenue from truck transportation services decreased to SGD 19,981,341 in 2023 from SGD 20,299,616 in 2022, a decline of approximately 1.57%[19] - Revenue from freight forwarding services decreased to SGD 26,621,653 in 2023 from SGD 28,281,681 in 2022, a decline of approximately 5.86%[19] - Revenue from value-added transportation services increased significantly to SGD 13,878,367 in 2023 from SGD 8,454,670 in 2022, an increase of approximately 64.8%[19] - Total revenue from external customers for the fiscal year 2023 was SGD 60,481,361, compared to SGD 57,035,967 in 2022, representing an increase of approximately 4.29%[19] Assets and Liabilities - Total assets as of December 31, 2023, were SGD 41,762,277, slightly down from SGD 42,045,336 in 2022[4] - Non-current assets increased to SGD 29,701,400 from SGD 22,936,024, showing a growth of 29.5%[4] - Current liabilities decreased to SGD 12,139,647 from SGD 11,689,331, indicating a reduction of 3.8%[5] - Net assets increased to SGD 49,594,099 from SGD 46,151,255, reflecting a growth of 5.3%[5] - Trade payables decreased from SGD 2,424,032 in 2022 to SGD 1,316,140 in 2023, reflecting a significant reduction in liabilities[16] Expenses - Administrative expenses rose to SGD 15,051,605 from SGD 13,234,466, marking an increase of 13.7%[3] - Financing costs rose significantly to SGD 753,241 in 2023 from SGD 170,045 in 2022, an increase of approximately 342.4%[28] - The gross profit margin for the years ended December 31, 2022, and 2023 was approximately 31.9% and 31.7%, respectively, with a decline in the gross profit margin for truck transportation services from 31.5% to 29.3% due to intensified competition[64][66] Cash Flow and Capital Expenditures - As of December 31, 2023, the company had cash and bank balances of approximately SGD 22.8 million, up from SGD 10.3 million in 2022[77] - The company made capital expenditures of SGD 17,234,493 in 2023, compared to SGD 11,273,477 in 2022, marking a significant increase of 53%[39] - The group's capital commitments for the acquisition of properties, plants, and equipment amounted to approximately SGD 17.1 million as of December 31, 2023, significantly up from SGD 0.8 million in 2022[89] Strategic Initiatives - The company anticipates continued growth in its operations and is focusing on strategic acquisitions to enhance market presence[45] - The company is focused on expanding its logistics business and enhancing value-added transportation services to create a favorable environment for future growth[56] - The company is exploring potential mergers and acquisitions to strengthen market position[106] - The company plans to increase transparency in logistics operations and improve funding methods to support expansion plans and strengthen market position[55] Governance and Compliance - The audit committee, composed of three independent non-executive directors, reviewed the audited financial statements for the year ended December 31, 2023, with no objections raised[102] - The company has adopted the corporate governance code and confirmed compliance with all relevant provisions up to December 31, 2023[98] - The group has no significant contingent liabilities as of December 31, 2023, consistent with the previous year[90] Employee and Operational Metrics - As of December 31, 2023, the company had a total employee cost of approximately SGD 12.3 million, an increase from SGD 11.7 million in 2022, with a total of 223 employees compared to 190 in the previous year[86] - The company operates a fleet of 53 prime movers, 465 trailers, and 19 flatbed trucks, along with two front-end loaders and three excavators, supporting its logistics operations[53]
LEGION CONSO(02129) - 2023 - 年度业绩