MST Golf 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	298.28	327.78	325.43	300.88	206.52
Revenue Growth (YoY)	-9.00%	0.72%	8.16%	45.69%	21.37%
Cost of Revenue	181.29	193.82	182.5	171.68	123.79
Gross Profit	116.99	133.96	142.93	129.2	82.73
Selling, General & Admin	124.79	121.61	113.38	89.12	58.39
Other Operating Expenses	-4.7	-1.9	-2.09	-2.62	-1.81
Operating Expenses	120.09	119.72	111.29	86.5	56.57
Operating Income	-3.1	14.23	31.64	42.69	26.16
Interest Expense	-6.07	-7.44	-6.29	-4.17	-2.82
Interest & Investment Income	0.57	1.1	0.93	0.01	0.16
Currency Exchange Gain (Loss)	-	0.39	0.52	0.31	-
EBT Excluding Unusual Items	-8.6	8.27	26.79	38.84	23.5
Gain (Loss) on Sale of Investments	-	1.15	0.31	-	-
Gain (Loss) on Sale of Assets	-	0.01	0.02	0	0.07
Asset Writedown	-	-	-	-	-0.42
Other Unusual Items	-	-	0.14	-	2.95
Pretax Income	-8.6	9.44	27.26	38.84	26.26
Income Tax Expense	1.85	4.62	9.89	9.73	6.17
Earnings From Continuing Operations	-10.45	4.82	17.37	29.12	20.09
Minority Interest in Earnings	0.92	1.11	0.26	-2.46	-2.08
Net Income	-9.52	5.92	17.63	26.65	18.01
Net Income to Common	-9.52	5.92	17.63	26.65	18.01
Net Income Growth	-	-66.40%	-33.85%	47.96%	39.88%
Shares Outstanding (Basic)	821	821	733	128	821
Shares Outstanding (Diluted)	821	821	733	128	821
Shares Change (YoY)	-	11.96%	471.14%	-84.36%	-
EPS (Basic)	-0.01	0.01	0.02	0.21	0.02
EPS (Diluted)	-0.01	0.01	0.02	0.21	0.02
EPS Growth	-	-70.06%	-88.42%	846.08%	39.88%
Free Cash Flow	46.61	4.29	-25.93	-14.91	2.37
Free Cash Flow Per Share	0.06	0.01	-0.04	-0.12	0.00
Dividend Per Share	-	0.003	0.010	-	0.021
Dividend Growth	-	-75.00%	-	-	-
Gross Margin	39.22%	40.87%	43.92%	42.94%	40.06%
Operating Margin	-1.04%	4.34%	9.72%	14.19%	12.67%
Profit Margin	-3.19%	1.81%	5.42%	8.86%	8.72%
Free Cash Flow Margin	15.63%	1.31%	-7.97%	-4.96%	1.15%
EBITDA	8.67	25.52	39.78	48.63	29.75
EBITDA Margin	2.91%	7.79%	12.22%	16.16%	14.41%
D&A For EBITDA	11.77	11.29	8.15	5.94	3.59
EBIT	-3.1	14.23	31.64	42.69	26.16
EBIT Margin	-1.04%	4.34%	9.72%	14.19%	12.67%
Effective Tax Rate	-	48.98%	36.27%	25.04%	23.49%
Advertising Expenses	-	-	-	-	5.68

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