Mah Sing Group Berhad (KLSE:MAHSING)

Mah Sing Group Berhad Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	2,596	2,520	2,603	2,317	1,754	1,531
Revenue Growth (YoY)	6.08%	-3.19%	12.34%	32.11%	14.58%	-14.47%
Cost of Revenue	1,903	1,892	2,008	1,804	1,297	1,146
Gross Profit	692.89	628.51	595.66	512.89	457.15	384.34
Selling, General & Admin	298.1	271.04	246.98	237.22	220.19	222.24
Other Operating Expenses	-35.96	-34.15	-30.53	-44.79	-24.44	-22.61
Operating Expenses	262.14	236.89	216.46	192.43	195.75	199.64
Operating Income	430.75	391.62	379.2	320.46	261.41	184.7
Interest Expense	-68.8	-63.54	-58.87	-57	-44.74	-37.85
Interest & Investment Income	11.02	10.74	7.83	2.47	3.48	8.47
Earnings From Equity Investments	0.06	0	-	-	-	-
Other Non Operating Income (Expenses)	-1.75	-1.75	-0.78	-1.8	-0.9	1.23
EBT Excluding Unusual Items	371.29	337.07	327.39	264.12	219.24	156.55
Asset Writedown	-	-	-	-	-	-9.68
Pretax Income	371.29	337.07	327.39	264.12	219.24	146.86
Income Tax Expense	102.1	97.97	105.21	77.33	46.98	49.32
Earnings From Continuing Operations	269.19	239.1	222.18	186.8	172.26	97.55
Minority Interest in Earnings	-10.43	1.65	-6.89	-6.75	-11.41	-3.21
Net Income	258.76	240.75	215.29	180.05	160.86	94.34
Preferred Dividends & Other Adjustments	-	-	-	22.36	54.2	73.18
Net Income to Common	258.76	240.75	215.29	157.69	106.66	21.16
Net Income Growth	5.60%	11.83%	19.57%	11.93%	70.51%	-52.91%
Shares Outstanding (Basic)	2,560	2,523	2,428	2,428	2,428	2,428
Shares Outstanding (Diluted)	2,560	2,523	2,428	2,428	2,438	2,428
Shares Change (YoY)	2.85%	3.91%	-	-0.43%	0.43%	0.01%
EPS (Basic)	0.10	0.10	0.09	0.06	0.04	0.01
EPS (Diluted)	0.10	0.10	0.09	0.06	0.04	0.01
EPS Growth	2.68%	7.58%	36.53%	48.64%	402.35%	-80.63%
Free Cash Flow	590.71	501.85	1,037	639.38	18.6	250.4
Free Cash Flow Per Share	0.23	0.20	0.43	0.26	0.01	0.10
Dividend Per Share	0.045	0.045	0.040	0.030	0.026	0.017
Dividend Growth	12.50%	12.50%	33.33%	13.21%	59.64%	-50.45%
Gross Margin	26.69%	24.94%	22.88%	22.13%	26.06%	25.11%
Operating Margin	16.59%	15.54%	14.57%	13.83%	14.90%	12.07%
Profit Margin	9.97%	9.55%	8.27%	6.80%	6.08%	1.38%
Free Cash Flow Margin	22.75%	19.91%	39.83%	27.59%	1.06%	16.36%
EBITDA	482.59	434.47	413.98	353.51	291.68	211.4
EBITDA Margin	18.59%	17.24%	15.90%	15.26%	16.63%	13.81%
D&A For EBITDA	51.84	42.85	34.78	33.05	30.27	26.7
EBIT	430.75	391.62	379.2	320.46	261.41	184.7
EBIT Margin	16.59%	15.54%	14.57%	13.83%	14.90%	12.07%
Effective Tax Rate	27.50%	29.07%	32.14%	29.28%	21.43%	33.58%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.