Mah Sing Group Berhad Income Statement

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

Millions MYR. 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	2,517	2,520	2,603	2,317	1,754
Revenue Growth (YoY)	-0.15%	-3.19%	12.34%	32.11%	14.58%
Cost of Revenue	1,809	1,892	2,008	1,804	1,297
Gross Profit	707.19	628.51	595.66	512.89	457.15
Selling, General & Admin	314.21	271.04	246.98	237.22	220.19
Other Operating Expenses	-48.42	-34.15	-30.53	-44.79	-24.44
Operating Expenses	265.8	236.89	216.46	192.43	195.75
Operating Income	441.39	391.62	379.2	320.46	261.41
Interest Expense	-70.36	-63.54	-58.87	-57	-44.74
Interest & Investment Income	11.84	10.74	7.83	2.47	3.48
Earnings From Equity Investments	0.07	0	-	-	-
Other Non Operating Income (Expenses)	-	-1.75	-0.78	-1.8	-0.9
EBT Excluding Unusual Items	382.94	337.07	327.39	264.12	219.24
Pretax Income	382.94	337.07	327.39	264.12	219.24
Income Tax Expense	105.28	97.97	105.21	77.33	46.98
Earnings From Continuing Operations	277.66	239.1	222.18	186.8	172.26
Minority Interest in Earnings	-17.58	1.65	-6.89	-6.75	-11.41
Net Income	260.08	240.75	215.29	180.05	160.86
Preferred Dividends & Other Adjustments	-	-	-	22.36	54.2
Net Income to Common	260.08	240.75	215.29	157.69	106.66
Net Income Growth	8.03%	11.83%	19.57%	11.93%	70.51%
Shares Outstanding (Basic)	2,560	2,523	2,428	2,428	2,428
Shares Outstanding (Diluted)	2,560	2,523	2,428	2,428	2,438
Shares Change (YoY)	1.49%	3.91%	-	-0.43%	0.43%
EPS (Basic)	0.10	0.10	0.09	0.06	0.04
EPS (Diluted)	0.10	0.10	0.09	0.06	0.04
EPS Growth	6.49%	7.58%	36.53%	48.64%	402.35%
Free Cash Flow	332.93	501.85	1,037	639.38	18.6
Free Cash Flow Per Share	0.13	0.20	0.43	0.26	0.01
Dividend Per Share	0.050	0.045	0.040	0.030	0.026
Dividend Growth	11.11%	12.50%	33.33%	13.21%	59.64%
Gross Margin	28.10%	24.94%	22.88%	22.13%	26.06%
Operating Margin	17.54%	15.54%	14.57%	13.83%	14.90%
Profit Margin	10.33%	9.55%	8.27%	6.80%	6.08%
Free Cash Flow Margin	13.23%	19.91%	39.83%	27.59%	1.06%
EBITDA	502.45	434.47	413.98	353.51	291.68
EBITDA Margin	19.97%	17.24%	15.90%	15.26%	16.63%
D&A For EBITDA	61.06	42.85	34.78	33.05	30.27
EBIT	441.39	391.62	379.2	320.46	261.41
EBIT Margin	17.54%	15.54%	14.57%	13.83%	14.90%
Effective Tax Rate	27.49%	29.07%	32.14%	29.28%	21.43%

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