FY 2025 vs FY 2024 Profit before tax of S$4.3 million was recorded in FY 2025 as compared to profit before tax of S$8.7 million in FY 2024. Similarly, EBITDA was S$6.8 million in FY 2025 as compared to $11.8 million in FY 2024. With lower income tax expense of S$0.4 million, net profit after tax for FY 2025 was S$3.9 million vis-à-vis S$7.9 million in FY 2024. The decrease in profitability was due to the same reasons as above. After adjusting for the impact of the fire incident, FY 2025 net profit after tax would have increased by S$1.0 million or 31.1% year-on-year. (h) Total comprehensive income These translation gains or losses arise from translation of foreign currency denominated assets and liabilities of subsidiaries and associated companies. Translation gains of S$1.2 million and S$0.2 million in H2 2025 and FY 2025 respectively were largely due to the appreciation of Malaysian Ringgit and Thai Baht against Singapore Dollar. H2 2025 vs H1 2025 H2 2025 vs H2 2024 Translation losses of S$1.0 million were recorded in H1 2025. As a result, comprehensive income for H2 2025 of S$3.4 million was S$2.7 million higher than H1 2025 (S$0.7 million). On the other hand, translation gains of S$1.7 million were recorded in H2 2024. Therefore, comprehensive income for H2 2025 was S$4.2 million or 55.2% lower than H2 2024 (S$7.7 million). FY 2025 vs FY 2024 Year-on-year, translation gains in FY 2025 (S$0.2 million) were S$1.3 million or 87.6% lower than FY 2024 (S$1.5 million). Comprehensive income for FY 2025 was at S$4.1 million, S$5.3 million or 56.5% lower as compared to FY 2024. FINANCIAL POSITION REVIEW Financial Position Highlights As at Variance 31 December 2025 vs 31 December 2024 Fav/(Unfav) 31 December 2025 31 December 2024 Cash (S$’mil) 14.0 16.0 (2.0) Borrowings (S$’mil) 34.7 25.2 (9.5) Current ratio (times) 1.6 1.8 (0.20) Gearing ratio (times) 0.57 0.43 (0.14) Net gearing ratio (times) 0.34 0.16 (0.18) Net assets per share attributable to equity holders of the Company (cents) 46.00 43.92 2.08 Inventory turnover (days) 147 147 – Trade receivables turnover (days) 69 66 (3) Trade payable turnover (days) 26 27 (1) MEGACHEM LIMITED ANNUAL REPORT 2025 38 OPERATING AND FINANCIAL REVIEW
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