Haw Par (H02) H1 2025 earnings summary

Executive summary

• Revenue rose 7.0% year-over-year to S$126.3m for the half year ended 30 June 2025, driven by resilient demand for healthcare products.

• Gross margin improved to 56.5% from 54.6% due to favorable product mix shifts.

• Other income increased 20.3% to S$116.8m, mainly from higher dividends on strategic and long-term investments.

• Net profit grew 18.2% year-over-year to S$144.1m, with basic and diluted EPS at 65.1 cents, up from 55.1 cents.

Financial highlights

• Operating profit before tax increased 17.7% to S$152.0m compared to the same period last year.

• General and administrative expenses rose 49.2% to S$9.3m, mainly due to net foreign currency losses.

• Finance expenses fell 24.8% to S$0.8m due to lower borrowing rates.

• Investments in debt securities declined 62.0% to S$54.5m as maturing tranches were shifted to bank deposits.

• Net asset value per share was S$18.44 as of 30 June 2025, down from S$18.74 at year-end 2024.

Outlook and guidance

• Weaker consumer spending is expected to impact operating businesses due to global economic slowdown and trade policy uncertainties.