Harbour Equine Holdings Income Statement

Financials in millions HKD. Fiscal year is January - December.

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	21.71	68.58	69.06	76.27	73.37
Revenue Growth (YoY)	-68.35%	-0.69%	-9.46%	3.96%	63.09%
Cost of Revenue	24.6	69.31	72.36	62.89	58.57
Gross Profit	-2.89	-0.72	-3.3	13.38	14.79
Selling, General & Admin	7.58	15.95	24.81	34.62	30.38
Operating Expenses	12.45	16.25	24.56	34	31.9
Operating Income	-15.34	-16.98	-27.86	-20.62	-17.11
Interest Expense	-1.87	-3.54	-5.01	-2.64	-0.67
Interest & Investment Income	0	0.01	0.15	0.55	0.16
Currency Exchange Gain (Loss)	0.93	-2.48	-0.39	1.44	1.29
Other Non Operating Income (Expenses)	2.03	-8.52	-2.68	0.02	0.11
EBT Excluding Unusual Items	-14.25	-31.52	-35.78	-21.25	-16.21
Impairment of Goodwill	-6.68	-	-	-	-12.1
Gain (Loss) on Sale of Investments	-	0.12	0.05	-0.06	0.05
Gain (Loss) on Sale of Assets	15.66	-3.18	-0.68	1.07	-
Asset Writedown	-0.73	-3.5	-10.68	-4.38	1.03
Other Unusual Items	-	0.02	0.07	0.48	-
Pretax Income	-6.01	-37.46	-46.57	-22.9	-27.24
Income Tax Expense	-0.85	-0.45	0.26	-	-
Earnings From Continuing Operations	-5.16	-37.01	-46.83	-22.9	-27.24
Earnings From Discontinued Operations	1.81	-	-	-	-
Net Income	-3.35	-37.01	-46.83	-22.9	-27.24
Net Income to Common	-3.35	-37.01	-46.83	-22.9	-27.24
Shares Outstanding (Basic)	429	409	409	409	367
Shares Outstanding (Diluted)	429	409	409	409	367
Shares Change (YoY)	4.76%	-	-	11.54%	46.23%
EPS (Basic)	-0.01	-0.09	-0.11	-0.06	-0.07
EPS (Diluted)	-0.01	-0.09	-0.11	-0.06	-0.07
Free Cash Flow	-	-1.3	6.44	-45.12	-26.65
Free Cash Flow Per Share	-	-0.00	0.02	-0.11	-0.07
Gross Margin	-13.32%	-1.06%	-4.78%	17.54%	20.16%
Operating Margin	-70.67%	-24.76%	-40.34%	-27.04%	-23.32%
Profit Margin	-15.42%	-53.97%	-67.80%	-30.03%	-37.13%
Free Cash Flow Margin	-	-1.90%	9.32%	-59.16%	-36.32%
EBITDA	-14.81	-16.45	-26.68	-18.87	-15.16
EBITDA Margin	-68.23%	-23.98%	-38.63%	-24.73%	-20.66%
D&A For EBITDA	0.53	0.53	1.18	1.76	1.95
EBIT	-15.34	-16.98	-27.86	-20.62	-17.11
EBIT Margin	-70.67%	-24.76%	-40.34%	-27.04%	-23.32%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.